🗞 Daily Crypto News, February, 12th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Market Wrap: Bitcoin Above $49K While Ether Transaction Fees Surge Again

Bitcoin set a new record above $49,000 after trading between $47,000 and $48,000 for much of Thursday. Traders and analysts told CoinDesk they remain bullish on the overall market, as institutional investors’ interest in bitcoin is growing “at a staggering pace.”

Bitcoin (BTC) trading around $47,174.04 as of 21:00 UTC (4 p.m. ET). Gaining 5.48% over the previous 24 hours.

Bitcoin’s 24-hour range: $44,057.64-$48,635.84 (CoinDesk 20)

BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

Ethereum killers are killing it, as Ethereum gas fee surges

The second-largest cryptocurrency by market capitalization, ether (ETH), was up Thursday, trading around $1,769.03 and climbing 2.75% in 24 hours as of 21:00 UTC (4:00 p.m. ET).

On the technical side, Joel Kruger, cryptocurrency strategist at exchange LMAX Digital, said the initial resistance level would be the earlier all-time high at around $1,840 on Wednesday.

“A break above [$1,840] will open the door for a test of massive resistance at $2,000, which represents a critical psychological barrier and measured move upside extension,” Kruger said. “We see the first level of support at $1,680, with a break below to take the immediate pressure off the topside and open the door for a correction back down towards the $1,500 area.”

🗞 Move Over, Miami. Andrew Yang Wants New York to Be Bitcoin ‘Hub’

Andrew Yang is running for New York City mayor.

Like several US mayors, he wants to attract Bitcoin and cryptocurrency activity to his city.

The state's BitLicense is a roadblock to accomplishing that.

Former Democratic presidential candidate Andrew Yang is the frontrunner to become New York City mayor. And after receiving some solid polling numbers yesterday, the entrepreneur is laying out more of his vision.

It involves Bitcoin.

“As mayor of NYC—the world’s financial capital—I would invest in making the city a hub for BTC and other cryptocurrencies,” he wrote today.

Reno, Nevada, mayor Hillary Schieve is also looking to bring crypto talent to her city, as well as incorporate smart contracts into municipal functions. Last month, she outed herself as a Link Marine (a supporter of blockchain oracle network Chainlink), and she told Crypto Breakdown she’d like Reno to be a “test market” for cryptocurrency.

🗞 Bitcoin Options Market Sees Low Odds of Sky-High Rally in 2021

Bitcoin’s options market is assigning a low probability of prices rising above $100,000 this year despite widespread expectations for a meteoric rally in the wake of Tesla’s recent purchase of the top cryptocurrency.

At press time, the options market is pricing 12% odds of the cryptocurrency trading in seven figures before the end of December, according to data source Skew. The probability of a break above $70,000 is around 21%.

“With the extreme volatility of the past two months, the market isn’t showing a lot of conviction on how bitcoin will trade for the rest of the year,” Sui Chung, CEO of CF Benchmarks, told CoinDesk.

Options are derivative contracts that give the purchaser the right, but not the obligation, to buy the underlying asset at a predetermined price on or before a specific date. A call option represents a right to buy, and a put option gives the right to sell.

Bitcoin is currently changing hands near $46,200, representing a 3% gain on a 24-hour basis, according to CoinDesk 20 data. The cryptocurrency is stuck in a minor descending channel on the hourly chart.

🗞 Founder of $8.4B Dogecoin sold everything in 2015 for ‘a used Honda Civic’

Dogecoin founder Billy Markus has revealed that he sold off his DOGE stash in 2015 for an amount equivalent to a used Honda Civic.

Markus made the comment in an open letter to the r/dogecoin subreddit earlier this week in which he sought to introduce himself to new members of the community and outline what he believes is the “true value” of DOGE after the Dogecoin mania that saw it gain 900% since late January.

In the post, he provided context on the history of Dogecoin, in what appears to be a love-hate relationship since the coin started as a joke back in 2013.

Markus asserted that he stood down from Dogecoin in 2015 due to online harassment from the community, and because he was uncomfortable with the direction the community was taking. During the same year, Markus said he also ran into financial concerns due to losing his job and decided to cash in his DOGE:

“I gave away and/or sold all the crypto I had back in 2015 after being laid off and scared about my dwindling savings at the time, for about enough in total to buy a used Honda Civic.”

🗞 Daily Crypto Calendar, February, 12th💰

Venus (XVS)

"#Venus and #BSC are jointly airdropping a total of $50,000 in #BNB Gas Fees!"

Wabi (WABI)

Wabi masternodes rewards distribution.

Matic Network (MATIC), Rubic (RBC)

"Rubic and @maticnetwork are holding a live stream #AMA session regarding #Layer2 solutions!"

Ocean Protocol (OCEAN)

"Tomorrow we unveil Ocean's 2021 roadmap and our plans for widespread adoption."

Flow Protocol (FLOW)

"Gate.io will be listing Flow - Dapper Labs (FLOW) trading on 12 February 2021 at 04:00 (UTC time)"

Rarible (RARI)

"Join the team this Friday at 9-11am MT for the workshop by @insider0x , AMA with our community manager..."

Props Token (PROPS)

"Adi will be hosting a community chat THIS FRIDAY at 2:30pm EST. Come here some exciting updates and ask questions."

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