Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!
🗞 Market Wrap: Bitcoin Briefly Above $56K, Ether Follows BTC’s Rally
Bitcoin broke briefly above a key resistance level at $56,000 on Friday, while ether’s slowly catching up to bitcoin’s gains.
- Bitcoin (BTC) trading around $55,512.76 as of 22:00 UTC (5 p.m. ET). Gaining 6.60% over the previous 24 hours.
- Bitcoin’s 24-hour range: $50,821.47-$56,283.55 (CoinDesk 20)
- BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
In the derivatives market, bitcoin’s price could be tested at around $56,000, according to Andrew Tu, an executive at quantitative trading firm Efficient Frontier.
However, while many bought into bitcoin’s “digital gold” narrative at the beginning of the coronavirus pandemic, physical gold has lost value year to date while bitcoin has skyrocketed.
Ether near $2K, DeFi drives Binance’s BNB
With ether’s new all-time high could be seen as a result of bitcoin’s surge, factors such as institutional interest and rapid growth of decentralized finance (DeFi) have also been moving its price higher.
But much of the chatter in the altcoin market is centered on BNB, the native token to Binance, the No. 1 cryptocurrency exchange by spot trading volume. BNB saw a seven-fold return on a year-to-day basis and its market capitalization has passed that of the stablecoin tether (USDT) to take third place behind bitcoin and ether.
🗞 Ethereum Core Developers Eye Mid-April for ‘Berlin’ Hard Fork
Ethereum developers have scheduled the Berlin hard fork for April 14 at block height 12,244,000, according to the Ethereum All Core Developers meeting Friday.
The hardfork includes various optimizations for contracts including gas efficiencies, updates to how code is read by the Ethereum Virtual Machine (EVM) and other changes to protect against denial-of-service (DDOS) attacks.
The Berlin hard fork was originally scheduled for June or July 2020, but was pushed back mainly due to centralization concerns around the Geth client on which most Ethereum nodes run. Moreover, developers working on the current base layer blockchain, often called Eth 1.x, have expressed strain from maintaining the client.
The Berlin hard fork has been preceded by multiple testnets. The update, which includes at least five Ethereum Improvement Proposals (EIP), will be shipped on four test networks before deployment as well.
🗞 Elon Musk, Bitcoin Advocates Have 'Laser Eyes' on Twitter. Here's Why
Tesla CEO Elon Musk, who oversaw the company's decision to buy $1.5 billion worth of Bitcoin earlier this year, has joined a curious trend, adopting a Twitter profile photo of an anime woman with glowing red eyes and Bitcoin in the background.
US Senator Cynthia Lummis (R-Wy.), a Bitcoin holder who sits on the Senate Banking Committee, has them too—red laser eyes atop her actual photo.
They join a who's who of Bitcoin advocates that includes CoinShares' executive Meltem Demirors and MicroStrategy's CEO Michael Saylor, all with glowing, demonic-looking eyes.
What's going on here?
"It's meant to convey activation and growing power levels," Neeraj Agrawal, head of communications for cryptocurrency think tank Coin Center, told Decrypt. "Think about when a character's eyes glow in a movie."
According to the website Know Your Meme, the TV trope of characters with glowing eyes was first widely used in meme form after the video game Mass Effect 2 was released in 2010; enemies' eyes in the game glow yellow when they're controlled by another entity. People took to photoshop, added the caption "assuming direct control," and a meme was born.
🗞 BNB Gains 45% in 24 Hours as PancakeSwap ‘Flippens’ Uniswap Volume
s and make other information available to the SEC,”* the post said.
The native token of one of the world’s largest cryptocurrency exchanges is astral planing above new heights.
Binance Coin (BNB) is having its time in the sun, up 50% and trading at around $271, thanks to increased interest in decentralized exchanges and a relatively new decentralized finance (DeFi) project known as PancakeSwap.
The DeFi project has flipped its doppelganger Uniswap, as Binance’s CEO Changpeng Zhao noted on Twitter a short time ago.
Full video about this news here: https://www.coindesk.com/binance-bnb-45-pancakeswap?jwsource=cl
🗞 Daily Crypto Calendar, February, 20th💰
- General Event (CRYPTO), Veros (VRS)
Join us from February 20 to 21 at the Synopsis2021 Summit, where VEROS FP CEO will be speaking and acting as a presenter!
- Efforce (WOZX)
"... Here is the link to our first community gathering... help us improve for the next one on February 20th!"
- Venus (XVS)
"Venus Improvement Proposal 9 (VIP-9) will deployed this week and will enable @Cardano $ADA to be added as an asset to #Venus where..."
- Vexanium (VEX)
IDK, an Indonesian Rupiah Backed Stable Coin will be available limitedly in the Vexanium Network.
- PhoenixDAO (PHNX)
PhoenixDAO and CryptoDaily sign a media partnership, to support the continued marketing campaign of PhoenixDAO.
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