Weekend Summary Cryptocurrency Market Stats And News
Don’t be sad. It is we who are to blame these days. Or rather, after the price drop in the cryptocurrency market, many of the media literally took vacations.
Anyway, and after a thorough study, we have compiled some statistics and news that were reported that week is ending.
Maduro Is Finally Opening The Game
The Central Bank of Venezuela is exploring whether to hold Bitcoin and Ethereum in its international reserves.
The cryptocurrencies would be used to circumvent international sanctions and pay state-run oil company debts, the report revealed and as wrote cryptoslate.
The interesting thing is that the country has seen its foreign-currency reserves drop to a 30 year low and are estimated to be at around $ 7.9 billion and as reported Bloomberg.
The truth is that these inflation problems make the adoption of cryptocurrencies faster.
Ethereum Has More Development Activity Than EOS
Through a recent Santiment study, we have found that total development activity built on Ethereum’s platform had nearly 4.5 times (+342%) the amount of development work done on EOS’s platform over the past 12 months.
Together with that, we can highlight the great recovery of investments in the project.
Bitcoin In The Top 30 Largest World Currencies
The graphic reveals the M2 market supply of the largest currencies. This includes saving deposits, mutual funds as well as checking deposits and cash in circulation.
The largest currency by M2 is, reportedly, the Chinese yuan with $28,011 billion, followed by the USD with 14,521 billion. Bitcoin has managed to get its name among the top 30 and is currently the 29th largest currency in the world.
Number Of Days Bitcoin Has Fallen More Than 10%
Messari has wrote that while Bitcoin is down well into double digits, similar losses occurred throughout its history.
70 different times bitcoin has fallen more than 10% representing 2.4% of total days over the last eight years (since August 1, 2011).
BNB Token Showed A Six-Month Low
On the other hand, @btcxlab wrote that native native Binance exchange token over the past six months has shown even more impressive growth than Bitcoin itself.
Thanks to Binance efforts to promote its internal token, BNB led the liquidity growth chart for the year, demonstrating an increase in capitalization of 380%, says the report.
But in general it informs that in the last months the volume of negotiations of the token has lowered considerably.
Binance Will Launch Staking Platform
Binance will launch our official Staking Platform as a value-added service to Binance users.
With staking on Binance, users can receive staking rewards all while just being a regular Binance user as related in binance.com/en/staking.
Bitcoin Future Contracts And Stats
The latest study says that 90% of people who invest in Bitcoin are men. The testosterone then continues to gain power.
With that adds that Bitcoin futures liquidations over the last six months, that says and according to skew_markets, the last Tuesday it was the most active day of the year with $600mln liquidated — overtaking the short squeeze from the 2nd of April.
For another way, Just days after the significant drop in the Bitcoin hash rate, several monitoring sources confirm that the hash rate shows signs of recovery.
Data from monitoring source ‘Blockchain’ estimate that on 26 Sept hash rate reached a new all-time high of 108 quintillion hashes/sec according to cryptopurview.
What is still making us laugh is the low volume of negotiation that is being done by the Bakkt.
We can remember that the Bitcoin futures contract volume on the Bakkt platform remains unimpressive. In the first week total of ~627 BTC volume of Bakkt Bitcoin futures contracts were processed on the platform.
Surprisingly, the Bakkt platform managed only 2 BTC volume of Bitcoin daily futures contract trading in Week 1, wrote cryptopurview.
Other News That was history
The development of decentralized e-commerce every day is gaining more adoption. And we say decentralized by accepting cryptocurrencies as a means of payment.
This is the case of Mercado Libre, which in the coming months will begin to accept cryptocurrency in its e-commerce platforms.
This progress, as reported is given thanks to the Atlanta-based blockchain payment provider Bitpay.
At the same time, major Russian Chemical Producer is planning to use Credits Blockchain for Supply Chain Management as wrote coingape.
And then Ripple made its first move towards building decentralized finance (DeFi) products based on XRP as reported coindesk, Ukraine’s Ministry of Digital Transformation plans to legalize Bitcoin and other cryptocurrencies to bring them out of their current legal grey area as said beincrypto.
With that, we like to end this story telling that POA Network and Kauri announced a partnership to increase access to information in the Ethereum ecosystem. Stock prices shot this week from one day to another.
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