Weekly News Overview: Cryptocurrency

CoinMarketCap Acquisition Announced By Binance

Binance the world’s largest digital asset exchange platform had officially announced the acquisition to cointelegraph on the 2nd of April, 2020. This acquisition comes amid the tough times of coronavirus and the rough times that the exchanges are facing. CZ the CEO of Binance said to CoinTelegraph that both CMC and Binance are similar, in that they provide access to crypto.

Central Bank Digital Currency Development Gains Notoriety

With the ongoing coronavirus pandemic putting the world under lockdown, digital currency development is accelerating says Deutsche Bank strategist. Laboure’s (Deutsche Bank’s strategist) claim that there is a risk of spreading of the virus via cash transactions in a tweet from the 3rd of April, 2020.

Digital currencies that are developed by the central bank are now being seen as an essential in fighting the Coronavirus pandemic.

Bitcoin Becomes Go To For Charities In The Current Pandemic

The world is fighting an ongoing battle against the Coronavirus, that has now infected over 1.4 million people around the world and put us all under lockdown. It is becoming increasingly important to find a vaccine for the virus as a number of people around the world need continuous medical attention.

Brokerage Firm Launches Cryptocurrency Trading Platform

A Dutch retail brokerage firm BUX launched a zero commission (for the first 5,000 users) crypto trading platform- BUX crypto to solely respond to the growing demand for crypto trading.

In an announcement posted, yesterday- the 8th of April, 2020 , the company stated that they are available in 25 European nations and is planning on offering that would bring in new traders.

Crypto Volumes Surge During COVID Lockdown

The whole world has some has come to an economic standstill with COVID 19 preventive measures rolling out. While traditional economy seems to be taking a hit, cryptocurrency is seeing a surge, platforms like Wyre and MoonPay have seen the numbers climb.

In an email to CoinTelegraph the Driector of Wyre said that they’ve seen a huge spike in retail volume over the previous few weeks, he also added that there was, initially, a spike in the sell- side of the market but later started maxing out of capacity on the buy side.