WEEKLY CRYPTOCURRENCY NEWS

As the Demand for Ethereum Grows, so does the Gas Fee

Ethereum price reached its highest level since May 2018. In line with the increasing demand and volume, gas prices also increased. While the increase in prices was welcomed, the increase in gas prices reduced the positive atmosphere. Gas fees have climbed to a three-month high, according to Bitinfocharts.com.


Goldman Sachs Evaluates Bitcoin and Gold Relationship

Banking giant Goldman Sachs stated that Bitcoin in its current form does not pose a serious threat to the gold market. Bitcoin, which went up to $ 23,700 on December 17 and broke the all-time price record, increased its market value to $ 427 billion.

$ 1 Million Bitcoin Gift from Famous Rapper
American rapper Megan Thee Stallion has joined forces with Square's mobile payment service Cash App to send $ 1 million worth of Bitcoin to his followers. In a follow-up Tweet, the hip-hop star said that Bitcoin is trending to rise over time, urging people to "trade cryptocurrencies".

Grayscale Adds 2.5 Billion Dollars to the Money Managed in 3 Days

Grayscale announced that it has $ 15.5 billion under its management with Bitcoin, Ethereum and many other cryptocurrencies. Just 3 days ago, this amount was $ 13.1 billion. The increase in the value of cryptocurrencies also caused an increase in Grayscale assets.

Twitter CEO's Bitcoin Investment Doubled

Twitter CEO Jack Dorsey has doubled his profits with his Bitcoin investment with his other company, Square. Square announced in October 2020 that the company's 1% reserve was allocated to Bitcoin, purchasing BTC worth $ 50 million. He bought 4,709 BTC at 10,600 dollars.

Transfer Fees Increased by 3X in 1 Week in Bitcoin

The average transfer fee last week was around $ 2.7, according to BitInfoCharts data. As of yesterday, according to current data, the average Bitcoin transfer fee has increased to $ 8.15 levels. Bitcoin transactions increased with the movement in the bitcoin price. For this reason, the increase in the number of transfers has increased the difficulty in mining approvals. For this reason, mining fees have also increased.

Elon Musk Makes New Statements For Bitcoin


Elon Musk posted on Dogecoin (DOGE) on December 20, and the DOGE price rose more than 20% after that. Musk then shared a few tweets about Bitcoin and compared it to fiat currency.


Thousands of Ledger User Information Hacked

A hacked database of more than one million Ledger customer e-mails has been made available on the hacker site Raidforums. Data was stolen during the hacking of the hardware wallet manufacturer's e-commerce database in June 2020. No financial information, recovery phrases or private keys were exposed in the attack.

US Treasury Department To Recruit Experts To Fight Crypto Crimes

The United States Department of Treasury is seeking expert advice on cryptocurrencies to tackle the legal challenges associated with the crypto industry. KYC will be made mandatory for personal wallets and blockchain nodes, especially in terms of legal procedures.

American Express Invests in Institutional Crypto Trading Platform FalconX

Traditional asset managers, who see cryptocurrencies as a protection against inflation, seem to have increased interest in cryptocurrencies with the latest macro-economic policies. American Express announced their support for FalconX, especially as it provides one-stop research and pricing and brings simplicity to the increasingly complex digital asset space through a platform.

JP Morgan Reveals Grayscale's Significance on Bitcoin

According to the JP Morgan review, he explained that the success of Grayscale, and in particular its Bitcoin-based product, is one of the important steps to prevent Bitcoin from correcting. Continuing his statements, Grayscale also stated that customers are allocating sufficient funds to Bitcoin Trust to keep the market price at the current level.

JP Morgan Predicts Bitcoin To Rise To $ 650K

JPMorgan, one of the largest investment banks in the world, thinks that Bitcoin (BTC) could eventually reach $ 650,000 if market capitalization turns into gold. Alternative "currencies" such as JPMorgan, Gold and Bitcoin were relatively main beneficiaries of the pandemic, increasing their assets (for investment purposes) by 27% and 227% respectively.

How Much Flare Will Be Sent To Ripple (XRP) Investors Has Been Determined

It is stated that as a result of the FLR airdrop event to be held by the Flare Network, more than 45 billion Spark tokens (FLR) will be distributed in total. For now, it is predicted that approximately 1,0073 FLR tokens will be distributed to 1 XRP. Even more than 45 billion tokens make up 45% of FLR's total supply.

MicroStrategy Announces Over $ 1 Billion Total Bitcoin Purchases

MicroStrategy, the largest publicly traded independent business intelligence company, announced that its Bitcoin purchases in 2020 were worth $ 1.1 billion. The company bought 29,646 bitcoins for $ 650 million on December 21. Thus, the company that made the fourth of Bitcoin investments said, "We believe that Bitcoin is a reliable store of value and that we have reinvested in Bitcoin is an indication of this."

U.S. Congress Accepts $ 900 Billion COVID-19 Incentive Deal

The United States (USA) Congress has agreed to conclude a COVID-19 incentive deal worth $ 900 Billion. According to a report released by CNBC, the new stimulus package was accepted by Congress on Sunday, according to Senate Majority leader Mitch McConnell and Minority Leader Chuck Schumer.

U.S. Securities and Exchange Commission (SEC) Prepares to Sue Ripple

SEC, which was preparing to sue Ripple company for the XRPs they launched in 2012, accused the company of "selling unregistered securities". Company executives argued in their testimony that this was an attack on the entire cryptocurrency world and that the SEC's intervention was inappropriate.

Government Support to Use of Cryptocurrencies in Venezuela

Venezuela, the country that uses Bitcoin the most in Latin America, announced that it started BTC mining by establishing a production facility in addition to making payments with cryptocurrency in many places. Petro, Venezuela's own digital currency, is still not available globally due to US sanctions, but can be used as a form of payment in many shopping channels in the country. State leaders maintained their confidence and encouragement in the use of digital currency, stating that this will play a major role in the development of the country.


$ 1.3 Billion Lawsuit Against Ripple

Ripple was asked for $ 1.3 billion in a lawsuit filed for violating federal securities laws, following accusations by the SEC that Ripple was unlicensed fundraising "through a digital asset called" XRP ". Looking at the claim, it is seen that Ripple was bribed by Ripple to list XRP on the exchanges and many other legal violations.

Bitcoin Supply Could Be Less than 21 Million

Bitcoin has a limited supply of 21 million in total. The current circulating supply is about 18 million. Cryptocurrency analytics company Glassnode showed in the statistics it shared that two million Bitcoins could be lost. According to the research, 98% of two million Bitcoins, corresponding to 9.5% of the total supply, were mined more than 7 years ago and 94% more than 10 years ago. The fact that bitcoins are forgotten or lost in certain places for not being traded can reduce the supply of 21 million Bitcoin, making it more difficult to obtain.

Blame MoneyGram on Ripple

MoneyGram, the world's second largest money transfer provider, received $ 52 million from Ripple this year to provide Ripple's own liquidity support. In the complaint, the SEC seems to have mentioned MoneyGram when it claimed that "participation in ODL was" subsidized by Ripple. "MoneyGram was not identified as the name in the SEC complaint, but stated that Ripple paid the anonymous money changer $ 52 million by September 2020. .

Bitcoin Supply Crisis Begins

In a table showing the Bitcoin supply published by Glassnode CTO, the most striking was the sharp decline in the number of Bitcoins that have existed for about 1 year. CTO and others see this as a sign that Bitcoin is in the midst of a supply and liquidity crisis, which makes long-term high pricing predictable in conjunction with Bitcoin demand.

TESLA is More Volatile than Bitcoin

Tesla, America's most valuable automaker, is more volatile than Bitcoin. It was determined that TSLA, one of the best performing shares of the year, was "less volatile" than Bitcoin. While TSLA has become the favorite of Wall Street, it did not go unnoticed that Bitcoin yielded 200% in the same period and 400% return since its lowest level in the year.

Establishes Bitcoin Fund on SkyBridge


Ripple was asked for $ 1.3 billion in a lawsuit filed for violating federal securities laws, following accusations by the SEC that Ripple was unlicensed fundraising "through a digital asset called" XRP ". Looking at the claim, it is seen that Ripple was bribed by Ripple to list XRP on the stock market, and many other legal violations.

Bitcoin and Ethereum are Safe

In the lawsuit filed by the SEC, it was stated that XRP was a security, and Ripple was selling securities without permission. Bitcoin is the leading cryptocurrency and ETH, the second largest cryptocurrency by total market cap, has previously resolved securities ambiguity. The two cryptocurrencies have been clearly stated by the SEC that they are not securities. XRP, on the other hand, had not previously issued a statement that it was not a security.

Ripple CEO's Spouse Also Sold Millions of XRP

Since 2015, the SEC has found that Ripple's CEO, as well as his wife, have sold large amounts of XRP. It is stated that the CEO and his wife earned more than $ 450 million in XRP sales. In addition to these accusations, the SEC emphasized that Ripple's senior executives are selling XRP at special prices to anyone who wants to buy without any restrictions.

XRP Also Unlisted By Bitwise

Two cryptocurrency exchanges operating in the US and Hong Kong-based OSL removed XRP from the list without waiting for the outcome of the lawsuit. In the statements made, the uncertainty of the XRP situation was emphasized. After the lawsuit decision, those who did not list Ripple in Bitwise joined the caravan and stated that in the event of a possible security decision in the case against XRP, the overall earning rate of the fund could drop sharply.

Risk Of XRP Announced As A Security Is Rising

The SEC stated that XRP has recently been used only for sales and has not been used in real terms. This is seen as a reason that increases the risk of XRP being declared securities. SEC had previously stopped Telegram's sale of GRAM tokens and declared GRAM as a security with the same allegations. SEC's decisions and statements point to a similar end for XRP.

SEC Talks About Ripple's Unlisted With Coinbase

The SEC met with Coinbase, one of America's largest cryptocurrency exchanges, after its trial with Ripple. Emphasizing that Ripple should be taken off the list, the SEC wants Coinbase to end transactions related to XRP, as well as exchanges that have already taken Ripple off the air.

Stablecoin Report from the USA

US financial regulators published a report to prevent money laundering. In the report, the Treasury Department and other institutions stated that they should be used in a way that "effectively manages risk and maintains the stability of the US 'local and international financial and monetary systems." Stablecoins are said to be securities, derivatives or commodities depending on the specific characteristics of a particular asset, according to the statements in the report.

Record Buying Bitcoin in 24 Hours from GrayScale

GrayScale, one of the largest investment funds in the world, received more than 12 thousand Bitcoin in 24 hours on December 22. The company, which has been on the agenda frequently with its record digital money funds, has exceeded $ 13.5 billion in BTC investment products. The shortage of supply and cold wallets created were welcomed very positively in terms of Bitcoin prices.

Bank of Japan Is Launching Its Own Digital Currency

According to information from the Japan Times, the Bank of Japan is preparing to launch its own digital currency by 2023. The fact that most of the payments in the country are already made digitally causes the digital currencies to be supported by the Central Banks. In such a period when Japan's institutional investors flock to Bitcoin, Central Banks' initiation of digital money preparations is seen as a very appropriate step.

PayPal Talks With Paxos, New Cryptocurrency Custody Company

With PayPal's announcement in October that it would initiate crypto payments, it was rumored that the payment giant would buy BitGo, a cryptocurrency custodian. But now the deal turned out to be a failure. PayPal then started negotiating with Paxos, and if an agreement is reached, users will be able to easily purchase Bitcoin and other cryptocurrencies through the Paxos-powered PayPal digital wallet.

Bitcoin Demand Trends Are Increasing

Bitcoin has had a strong rise in the past days, which has made it to reach $ 24,000. In their comments, analysts underline the strong demand as well as limited supply behind this strong rise. "The perfect demand storm is on the ground of a famine unlike what we've seen," said Cole Garner, a BTC analyst, in his comments.

Wall Street Veteran Establishes $ 25 Million Bitcoin Fund

In recent developments, we have often witnessed Wall Street investing in Bitcoin due to the need for inflation protection and the stagnation in other asset types. Recently, a Wall Street veteran and a former White House employee set up a BTC fund with his own investment of $ 25 million, again showing that the demand for the crypto asset is growing.

Ripple Partner Does Not Expect Lawsuit Results To Be Heavy

Financial services giant SBI Group, the top Ripple partner in Japan, shared its views on the Ripple situation, stating that even the worst case scenario will not affect Ripple as badly as thought. Following the statements, he emphasized that 90% of Ripple's customers are located outside the USA.

Statement From MoneyGram

In statements made by Ripple partners SBI Holdings and MoneyGram about the XRP case, it was noted that SBI Holdings supported Ripple, while MoneyGram denied the accusations. In a statement regarding the SEC case, MoneyGram gave the message that we never needed such financing, claiming that it did not directly use the ODL platform owned by Ripple. His self-laundering defense rather than supporting his partner Ripple did not go unnoticed.

Bitwise Sold XRP to Buy Bitcoin and Ethereum

Bitwise announced that they sold all XRPs within the crypto fund and bought them instead of Bitcoin, Ethereum and other cryptocurrencies with a small amount. Bitwise processes more than $ 20 million daily in volume and has a market value of $ 650 million. Before the sale of XRP assets on December 22, XRP accounted for 3.8% of the fund.

Crypto Wallet Proposal from US Treasury Agency FinCEN

The US treasury agency FinCEN has announced a draft law on cryptocurrency payments to prevent people from misusing digital currencies. The digital wallets in FinCEN's new proposals, on the other hand, have the content to report the assets in all kinds of cryptocurrency wallets and keep their records. The goal is to eliminate crimes made on cryptocurrencies.

WEEKLY CRYPTOCURRENCY ANALYSIS

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.