Daily news update: October 20th, 2021

mining, daily, week 51, news

Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Just hours after the launch of the first-ever Bitcoin Futures ETF in the US, the cryptocurrency came less than $500 away from painting a new all-time high. While BTC failed to do so yet, the cryptocurrency market capitalization of all digital assets saw a new record of nearly $2.550 trillion.

Bitcoin (BTC) is now trading at 64,041 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 3,857 USD

PlatonCoin (PLTC) is now for 0,538 USD

Total marketcap is currently at 2.636 trillion USD

Daily news update

Bitcoin and daily close: Data from TradingView showed BTC/USD reaching $64,490 on Bitstamp overnight. While inches from matching April’s peak, the action nonetheless sealed Bitcoin’s highest-ever daily close — around $64,230. In several currencies, including the Japanese yen, Australian dollar and euro, new all-time highs were already in on Wednesday.

Bitcoin and ETF: The first-ever bitcoin futures exchange-traded fund, the ProShares Bitcoin Strategy Fund (BITO) has become the second-highest ETF ever in opening day volume. BITO, which debuted on the New York Stock Exchange Tuesday, closed the session Tuesday with 23.103 million shares traded, or about $950 million, according to data from TradingView.

Bitcoin and mining: The mining difficulty level is now at 20.08 trillion at block height 705,600, reflecting the most difficult level since a previous adjustment on May 30, the data show. The latest adjustment follows six increases after four consecutive declines since May when China intensified its clampdown on the crypto mining sector.

China and CBDC: China is reportedly pressuring McDonald’s to accept its central bank digital currency, according to a recent report by the Financial Times. The fast food giant has already started testing the digital renminbi in Shanghai. However, the Chinese government wants McDonald’s to make it possible to pay with the CBDC at all of its locations throughout the country ahead of the Winter Olympics in Beijing that will kick off in early February. Some other major U.S. companies, such as Nike and Visa, are also facing pressure, according to the report.

Russia and USD: As Russia continues pushing de-dollarization, the Ministry of Foreign Affairs (MFA Russia) is reportedly considering replacing the United States dollar with not only traditional fiat currencies but also digital currencies. Aleksandr Pankin, deputy minister of Foreign Affairs of Russia, reiterated the country’s plans to reduce the U.S. dollar share in Russia’s international reserves and its usage in settlement with foreign partners in a Tuesday interview with local news agency Interfax. The official said that MFA Russia isn’t excluding the possibility of replacing the U.S. dollar with “some digital assets” alongside other currencies

Leave a Reply

Your email address will not be published. Required fields are marked *

Are you new to the world of digital currencies?

Schedule a half-hour consultation.

Schedule a consultation