Last week, investments in the cryptocurrency market reached a record $ 1.31 billion, according to CoinShares data. Although 97% of cryptocurrency market entries are in Bitcoin, Ethereum recorded $ 34 million investment last week, according to the data. The average Bitcoin transaction volume is $ 12.3 billion this year, and this value was $ 2.2 billion in 2020.
Miner Position Index at Record Level
According to CryptoQuant data, there were record-breaking exits in miner positions. Exits may not specifically indicate that miners are selling BTC. However, it shows that mined cryptocurrencies have moved to places where they would likely be part of a trade.
Galaxy Digital Builds Ethereum Fund
Galaxy Digital, an investment company with crypto assets of $ 815 million under its management, announced that it will establish an Ethereum fund that accepts a minimum investment of $ 25,000. Referring to the ETH-based DeFi platform, the company stated that Ethereum is a very good opportunity to invest.
New Statement by Ripple
Ripple CEO Garlinghouse published a new post and discussed the overall situation of the company. The article explained the positive effects following the SEC case, the new customers they gained. He emphasized that they have an incredible, durable team and strong projects for 2021 and beyond.
Giant Company's Demand For Grayscale Bitcoin Fund Increases
Chicago-based $ 1.4 billion corporate investment manager Rothschild Investment owns 30,454 shares of the Grayscale Bitcoin Trust fund worth $ 975,000. Rothschild first bought the shares of Grayscale in 2017, but soon moved out of the position. It started buying again in 2019. Rothschild has increased its stake in the Grayscale Bitcoin Trust fund by over 24% since October 2020.
DeFi Sector Increases Market Value
The total value locked in DeFi protocols is increasing day by day. Data from CoinGecko show that DeFi market value has reached $ 45 billion. While the amount locked on the DeFi platform was $ 15.6 billion at the beginning of 2021, it didn't take even a month to reach its current value of $ 25 billion. The intense interest shown paves the way for Ethereum's new peaks.
Philippines Publishes Guidelines on Cryptocurrencies
The Central Bank of the Philippines Bangko Sentral ng Pilipinas (BSP) has issued new guidelines to prevent money laundering. Under the directive, an authorization certificate and license are required for cryptocurrency exchanges to operate in the country. In addition, the central bank has the authority to determine the situation in suspicious activity or large amounts of transactions.
Stablecoins on Exchanges Are at a Record Level
According to CryptoQuant data, the amount of stablecoins in cryptocurrency exchanges has reached a record level. This rise in the amount of stablecoins that came with January shows stablecoins ready for trading on cryptocurrency exchanges.
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