This week, all news is related to the skyrocket of cryptocurrencies. Bitcoin hit $12.9K, Ether rose to $416. As for other digital assets, Dai’s and USDC’s supply grew 600% and 200% respectively. What caused such a huge breakthrough in the cryptocurrency market?! PayPal, one of the payment giants, announced plans to support Bitcoin and other cryptocurrencies and proved that crypto is ready for everyone. As for our Lumi team, we are deeply working on integrating DeFi into our wallet. Sounds interesting, right?!
Read about this and other news in our summary of the main and current affairs in the cryptocurrency market this week:
- I guess there is no person in this world who doesn’t know about Bitcoin’s skyrocket this week. By the end of this week, its price reached $12.9K. No one doubts crypto is ready for everyone and is wondering just how far it will go. Of course, rolling off the high demand for Bitcoin, its average transaction value increased 500%, which is more than $150,000. While some actively operated with Bitcoin, others kept it untouched still. According to cryptocurrency analytics data provider Glassnode, 10% of Bitcoin’s (around 1.8 million Bitcoin) supply has been untouched for over 10 years.
- Everyone who follows crypto news knows the real reason for Bitcoin skyrocket. Paypal, one of the leading payment systems, announced its entry into the cryptocurrency market on Wednesday. Its customers will be able to use cryptocurrencies to shop starting from early 2021. Initially, it will support Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
- Against the news about Bitcoin, it may seem that Ethereum hasn’t got a chance to show something interesting this week, but it is a big mistake to think so. The Ether price skyrocketed this week as well. By the end of the week, its market price had risen to $416, and as crypto market data aggregator Messar stated, Ethereum is set to become the first blockchain to settle $1 trillion in one year, and its network processing is more than twice the daily transaction volume of Bitcoin. Moreover, one of the Ethereum 2.0 developers said Ethereum’s protocol’s deposit contract will be released in a matter of days. So I guess soon our Newsline will be full of Ethereum news.
- As for Lumi Wallet news, our CEO Diana Furman said that Lumi’s users should expect DeFi to be integrated into Lumi Wallet very soon. So if you want to take part in choosing a DeFi project to be integrated into Lumi, you are welcome to share your view in our t.me chat. As usual, a little statistic from our team:.due to extremely high interest in crypto assets, we’ve decided to share the data of the most popular cryptocurrencies in our wallet. The results were predictable: Bitcoin, Ether, and Bitcoin Cash are the top 3 most popular cryptocurrencies in Lumi. According to our monthly report, the number of transactions increased by 679%, most of our wallet users are from the USA (80%), Canada (5%), and Australia (3%). Our support team received more than 2000 emails.
- Other cryptocurrencies have shown extremely high growth, Dai’s supply grew by more than 600% and USDC expanded 200%. Since starting July with a market cap of nearly $130 million, Dai’s supply has expanded to more than $940 million today. USDC’s market cap tripled from $928 million on July 1 to $2.79 billion today.
All information stated above is provided only for general information purposes. We do not promote any cryptocurrency, do not recommend or advise anything. All decisions about investments should be made by yourself. Our team works to satisfy our clients’ needs.
Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Reddit, and LinkedIn. Let’s learn the cryptocurrency market together step by step!