In continuum with what we were experiencing in October, the
month of November gave us more reason to keep riding the bitcoin wave as it hurdles
the $19,000 mark hitting close to ATHs. The global macro environment was
something that also could’ve been a major tailwind as we saw the US presidential
race wrap up with a presumably crypto friendly Biden cabinet, but this is
something to keep an eye out for. Because eventually the more and more we see
government becoming more knowledgeable about crypto, the more and more they
will have their hands on it. This is counter indicative to what crypto is all
about. But all in all, November was a great month for both Bitcoin and
Ethereum. Who still says they can’t co-exist? And as we close off the 4th
quarter of 2020, let’s hope that we continue to see bitcoin stay in the
positive considering that the last two 4th quarters of 2018 and 2019
were all in the red.
Here are the top headlines of the month of November
Ethereum 2.0 will be launched as scheduled on December 1
The Ethereum 2.0 deposit contract has hit a target number of
524,288 of ETH, which was reverberated throughout CT, staked to successfully
transition the smart contract protocol from a Proof of Work protocol to a Proof
of Stake protocol. The waiting of the arrival of Ethereum 2.0 has been in
conversation throughout the industry for the past few years with the need for
an upgrade accentuates by the rapid rise of DeFi activity on the smart contract
protocol. With a definite launch date of Dec. 1 now slated to come on the
horizon, ethereans are also expecting a big bump in price.
https://www.panewslab.com/zh/articledetails/1606184907783427.html
The Star is back and OK...
Star Xu, the founder of OKEx, responded to the recent
turmoil by stating an acquired company part of an M&A deal a few years ago
was involved in a complicated judicial case which required his recent
cooperation. According to Star and OKEx, this situation was the reason for the
arrest and confiscation of the private keys. But regardless of what happened, OKEx
users should be relieved that the withdrawal function has been reinstated
albeit with a slight exodus of crypto being taken off the exchange.
https://www.panewslab.com/zh/articledetails/1605832918172904.html
Bitcoin hitting over $19,000
At the end of the day, what matters in this market always
falls on the shoulders of big daddy bitcoin. After a tumultuous drop in March
due to the global pandemic and stock market rout, bitcoin has managed in
roaring back to levels not seen since late 2017 spiking up jubilation of the
next bull run. Since that crash back in March which saw price levels drop close
to $3,000, bitcoin is now trading near $17,000 inching closer and closer to all
time highs of near $20,000. It’s easy to lose hope in this nascent industry but
this year had provide a plethora of reasons to make the case for “why bitcoin”.
With prices jolting back up again, it will become a lot easier to have these
discussions around the Thanksgiving dinner table.
https://www.coindesk.com/bitcoin-breaks-19k
We’re forking again
After two years, BCH once again staged a hard fork war. It's just that this
time the fork is due to the conflicts within the community triggered by the IFP
(Infrastructure Financing Program). With the fork coming again, a new round of
"BCH" naming rights has begun again. Although in the previous battle
for computing power, the true successor of BCH fell into the hands of Bitcoin
ABC, from the current point of view, BCHN, which has the advantage of public
opinion and approval rate, has a relatively high probability of obtaining
naming rights. Indeed, every time BCH encounters a crisis, BCH chooses to use a
fork to solve the problem, but is this method really long-lasting? Take the
second hard fork upgrade as an example. If BCHN wins this victory, although
certain contradictions have been resolved in a short period of time, it still
cannot really solve the problem of the shortage of funds for the development
team. Can it be guaranteed that there will be no future forks in the future?
https://www.panewslab.com/zh/articledetails/1605668953697649.html
Unicorns in crypto?
Chainalysis confirmed exclusively to Forbes it expects to
raise $100 million venture capital at a $1 billion valuation as soon as next
week. Led by Tiger Global alum Lee Fixel’s newly founded venture capital firm,
Addition, the Series C round is expected to be joined by previous investors
Accel, Benchmark, and Ribbit. This would make Chainalysis the first crypto
company to have a unicorn valuation. A
unicorn is a term in business world to indicate a privately held startup
company valued at over $1 billion.
Grayscale scaling up its bitcoin assets
Grayscale this month bought another 15,114 Bitcoin ($241
million), bringing the total number of Bitcoin the company owns to 506,000, or
$8.1 billion. The company now manages a total of $10 billion worth of
cryptocurrency. Grayscale Bitcoin Trust (GBTC), which was created in 2013, is
the company’s biggest trust. The total value of assets managed by Grayscale
Bitcoin Trust (GBTC) now exceeds $8.2 billion. GBTC holds 481,711 Bitcoin,
which corresponds to 62% of the 814,359 Bitcoins in the ownership of
publicly-traded companies.
https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever
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