Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!
🗞 Bullish Coinbase Premium Returns as Bitcoin Reaches $51,400
Bitcoin set a new all-time high this morning after breaking the $50,000 barrier on Tuesday night, data from markets tool CoinGecko shows.
The asset saw a record price of $51,421 after a sudden surge from the $49,000 price level last night. It had earlier set a high price in the $50,450 region on Tuesday—a move that quickly retraced within minutes at the time.
But one key indicator is back on the right side for Bitcoin bulls, according to Cryptoquant CEO Ki Young Ju. Yesterday he noted that there was a negative premium on Coinbase, meaning prices were lower there than in the rest of the market. He argued that this would need to change for the cryptocurrency to rise further.
Today, Ju pointed out that the premium has returned, showing a strong desire for Bitcoin by Coinbase's institutional traders. "$BTC Coinbase Premium looks good after breaking 50k. We can go higher now," he tweeted.
🗞 China-US Conflict Gives Opening for Crypto, Suggests Vitalik Buterin
- Vitalik Buterin was questioned about how people overestimate or underestimate China.
- He responded that the US impulse to go after Chinese tech companies leaves it vulnerable to other actors.
- This conflict could provide an opportunity for cryptocurrency to flourish, he suggested.
The United States is in the middle of a new cold war with China. Only, the pitched battles between the preeminent superpower and the emerging one are taking place over the circuitry of computer chips and the terms of service of mobile phone apps.
So, who will win, Chinese tech companies or the US? Actually, maybe cryptocurrency, suggested Ethereum creator Vitalik Buterin in a recorded conversation with Morgan Beller, a general partner at venture capital firm NFX.
“It’s definitely true that a lot of the conflict, even if it’s a negative-sum for humanity overall, is good for crypto,” said the Ethereum founder after referencing America’s aggressiveness toward Chinese tech companies.
🗞 Survey finds 5% of corporate CFOs plan to buy Bitcoin in 2021
A small scale study of financial executives has found that 5% of companies intend to invest in Bitcoin (BTC) as a corporate asset this year, with a further 11% stating they could do so by 2024.
The survey conducted by Gartner comes on the back of news that Tesla invested 8%, or $1.5 billion of its cash reserve, into Bitcoin. MicroStrategy Inc. who has also invested large sums into the token announced a $600 million convertible bond offering Tuesday with the intent of using the proceeds to acquire additional Bitcoins.
The 77 respondents, including 50 CFOs among other executives, showed highly differing views based on the industry the company works in. The technology sector showed the most attraction towards Bitcoin with 50% of respondents from this industry anticipating holding the cryptocurrency in the future, with no difference based on the organization’s size.
Although the majority of those surveyed (84%) stated their main concerns about investing revolves around the financial risk that comes from Bitcoin’s high volatility, it also appears many are adopting a wait and see approach a the landscape develops.
“It’s important to remember this is a nascent phenomenon in the long timeline of corporate assets. Finance leaders who are tasked with ensuring financial stability are not prone to making speculative leaps into unknown territory.”
Other concerns expressed included board risk aversion (39%), slow adoption as an accepted form of payment or exchange (38%), lack of understanding (30%), cyber risks (25%), and complex accounting treatment (18%).
🗞 Coinbase Opens Waitlist for Ethereum 2.0 Staking
Coinbase’s waitlist for Ethereum 2.0 staking is live.
Per a blog post shared with CoinDesk, Coinbase customers can now sign up to stake their ETH into the Beacon Chain smart contract, the coordinator and bridge between the old Ethereum and Ethereum 2.0, the network’s momentous migration to a proof-of-stake network.
This upgrade will do away with proof-of-work mining in favor of staking. Typically, you need 32 ETH to run a validator node for Ethereum’s new blockchain, but Coinbase will allow their users to stake any amount of ETH in their account.
Coinbase’s waitlist for Ethereum 2.0 staking is live.
Per a blog post shared with CoinDesk, Coinbase customers can now sign up to stake their ETH (+0.75%) into the Beacon Chain smart contract, the coordinator and bridge between the old Ethereum and Ethereum 2.0, the network’s momentous migration to a proof-of-stake network.
This upgrade will do away with proof-of-work mining in favor of staking. Typically, you need 32 ETH to run a validator node for Ethereum’s new blockchain, but Coinbase will allow their users to stake any amount of ETH in their account.
🗞 Daily Crypto Calendar, February, 17th💰
- Dogecoin (DOGE)
"Our Telegram AMA with Max Keller (Dogecoin Core Developer) will take place on February 17th (4 p.m. UTC). The prize pool is 4000 $DOGE."
- Wabi (WABI)
Wabi founders answering your questions and sharing news, announcements in Wabi Telegram group.
- Mainframe (MFT)
"Head over to hifi.finance to sign up for notifications about the launch of the Hifi Lending Protocol."
- Props Token (PROPS)
"We are looking forward to another great event on Feb 17th!!"
- Blox (CDT)
Blox is holding a 90 min AMA at 17 February at 12:00 PM UTC.
- 🗞 Daily Crypto News & Video, February, 16th💰
- 🗞 Daily Crypto News & Video, February, 15th💰
- 🗞 Daily Crypto News & Video, February, 14th💰
- 🗞 Daily Crypto News & Video, February, 13th💰
- 🗞 Daily Crypto News & Video, February, 12th💰
- 🗞 Daily Crypto News & Video, February, 11th💰
- 🗞 Daily Crypto News & Video, February, 10th💰
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