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CRYPTOCURRENCY

There are presently 10,016 Bitcoin ATMs worldwide

Bitcoin throughout the years has gotten tremendously well known in nations with unpredictable money related business sectors.

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There are directly 10,016 crypto ATMs in 71 nations over the world. This implies an individual would now be able to purchase or sell crypto resources in 71 nations, as per the cryptographic money ATM following site Coinatmradar.

As indicated by a report as of late delivered from Norwegian monetary administrations organization AksjeBloggen, Bitcoin throughout the years has gotten immensely well known in nations with unpredictable money related business sectors whose residents require a speedy trade of their nation’s cash for an advanced resource not attached to or directed by any legislature.

What you have to know: Nigeria has Africa’s biggest populace and economy, so having its first Bitcoin ATM might be a sign for more extensive selection over the mainland, as Bitcoin use among Nigerians is increasing consistent energy.

Nigeria’s digital economy is on the ascent. With the expanded destitution level, more people are making a passageway into the worldwide  digital economy by offering advanced types of assistance as specialists.

Nonetheless, Nigerians experience difficulty accepting installments from their unfamiliar customers, as they are not permitted to utilize even the most renowned American based Paypal, and different alternatives like Money Gram and TransferWise are costly and moderate, yet additionally have resolute check frameworks.

Bitcoin, however, offers them an adaptable, practically moment, and less expensive methods for getting cross outskirt installment, subsequent to delivering administrations to customers and organizations.

The numerous monetary issues in Nigeria, including expansion and the degrading of the naira, have made the nation’s fiat cash a helpless store of significant worth, pushing some to store their incentive in a deflationary cash like Bitcoin, which can protect its owners from abundance cash printing from focal specialists and different vulnerabilities.

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CRYPTOCURRENCY

No retreat no surrender, Ethereum explodes

Ethereum was trading at $1,532.05 on the FTX exchange with a 24 daily trading volume of $26.6 Billion.

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Ethereum has been on a record buying spree amid its most recent price correction as institutional investors buy more at its dips.

At the time of drafting this report, Ethereum was trading at $1,532.05 on the FTX exchange with a 24 daily trading volume of $26.6 Billion. Ethereum is up 11.54% for the day.

Ether is the crypto asset that powers the Ethereum network. Crypto developers build apps on the Ethereum network, as it offers a unique type of decentralized software platform, which is different from the flagship crypto, which is designed to just be a currency or store of value.

Prakash Chand, Managing Director at FD7 Ventures also revealed also believes Ethereum would do far better than Bitcoin in the coming years;

“I’ve been lucky enough to spend lots of time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano, and Polkadot will be more valuable than Bitcoin within the next few years,” he said.

That being said there has never been so much sustained activity of addresses interacting with Ethereum.

The 3-month average of aa’s has broken over its previous all-time high and it doesn’t look like it wants to go back!

In addition, Ethereum (ETH) miners seem to have an edge now over their arch-rivals, as they have surpassed Bitcoin (BTC) miners on transaction fees charged for some months now.

Crypto market data aggregator, Messari revealed key metrics showing that it is the longest period for which Ethereum’s transaction fee revenue has surpassed BTC in the crypto asset’s history.

This prevailing macro is positive for Ether miners whose turnovers have been increased by higher fees and more transactions. In fact, Ethereum’s network hash rate has been growing consistently, having reached a near two-year high.

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CRYPTOCURRENCY

Demand for Bitcoin is growing high amid tightened supply

The amount of illiquid Bitcoin supply in the network has grown more than the circulating supply since 2017.

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Crypto experts argue that such strong demand in the Bitcoin market is largely attributed to the fact institutions are coming.

The market liquidity is tightening at the flagship Crypto market, as there are less than 4 million BTCs in circulation available for upcoming investors including the likes of  Grayscale, Paypal, Microstrategy, hedge funds, and so on.

Only 21 million Bitcoins are ever going to be produced in total, and presently, there is about 18.9 million Bitcoin in circulation.

This shows a differential of about 2.1 million Bitcoin that are left to be produced, not forgetting about 4.5 million Bitcoins that have already been lost forever.

This also means that liquidity is drying up, as demand for the world’s most popular crypto hits record highs

The amount of illiquid Bitcoin supply in the network has grown more than the circulating supply since 2017.

Meanwhile, liquid supply continues to see a steep decrease.

According to Yann & Jan:

“Float in the network is drying up faster than ever.
“Currently, about 78% of issued bitcoin’s are either lost or being hodled, leaving less than 4 million bitcoins to be shared amongst future market entrants (incl. Paypal, Square, SP500 Companies, ETF’s, etc).

It’s also important to understand Institutional investors love transparency, regulation meaning the more regulated Bitcoin mechanisms such as regulating Crypto exchanges handling it, the more value major institutions will place in it, thus making Bitcoin a less volatile asset in the long term.

Glassnode also revealed that a million Bitcoins (BTC) or almost $30 billion in actual prices, disappeared from the liquid supply in 2020. This process even outperformed the inflow of new Bitcoins (BTC) into the network:

“Currently, we are at a stage in which the illiquid supply is growing more than the total circulating supply according to the report. A similar pattern presently played out again during the bullish rally of 2017.”

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CRYPTOCURRENCY

Coinbase executes over $1 billion Crypto trades for world’s biggest clients

The world’s most valuable crypto exchange revealed it has executed $1 billion-plus crypto trades for some of the biggest institutions in the world.

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In its  recently filed documents with the U.S. Securities and Exchange Commission, the world’s most valuable crypto exchange, Coinbase revealed has executed $1 billion-plus crypto trades for “some of the biggest institutions in the world.”

The leading American Crypto exchange, however, revealed its major objective remains to provide credible crypto services for both institutional and retail clients as crypto continues to expand across financial sectors, according to Coinbase SEC filing.

“Our goal is to become the primary financial account for our retail users and the one-stop-shop for institutions’ crypto-asset investing needs. To achieve these goals, we are developing and launching innovative products and services across our platform to serve each customer’s distinct needs. For example, in 2020 we launched support for post-trade credit to enable institutional customers to instantly invest in crypto assets without pre-funding their trade. For retail users, we have added support for staking, offering our users a simple way to earn rewards on their crypto asset holdings.”

Recall, the fast-rising American crypto exchange financials revealed the crypto startup grew rapidly from 2019 to 2020.

Coinbase was founded was about 9 years ago and allows its customers to buy and sell Crypto Like Bitcoin, Ethereum Polkadot. The fintech company had earlier raised over $540 million in funding as a private company.

In 2019 Coinbase’s net income was- $30.4 million against $533.7 million in revenue. Just last year the crypto juggernaut net income rose to $127.5 million against $1.28 billion in revenue.

The unicorn grew just over 139% in 2020, a massive improvement in its 2019 results.

In an IPO filing, Coinbase says “Address not applicable” in the spot companies usually list their headquarters.

In a footnote, it explains “In May 2020, we became a remote-first company. Accordingly, we do not maintain a headquarters.”

As a risk factor, it cites: “The identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins.”

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