In the middle of the week, when we just started preparing our digest, the topic of Ethereum was at the top of our news feed. Ethereum 2.0 will go live, as developers attracted the required 524,288 ETH and it is supposed to be the main news. But Bitcoin once again made everyone talk about its price, which crashed down to 17K.
Read about this and other news in our summary of the main and current affairs in the cryptocurrency market this week:
- Just a few days ago Bitcoin was close to crossing the 20K price line. Its market cap hit a new record of $352 billion, which is more than American’s banking giant JPMorgan. With that, the number of wallets that hold more than 1 BTC (wholecoiners) now account for 95% of the cryptocurrency’s entire capitalization. Of course, mainstream media like The Wall Street Journal started making articles about Bitcoin on their site’s home page. And right around all this hype, Bitcoin fell below 17K in price. By the end of this week, Bitcoin’s price was $16,970.
- Ethereum 2.0 attracted 524,288 ETH before the deadline of 1st December. The crypto community came to the aid of the Ethereum 2.0 network, Celsius’s founder Alex Mashinsky said that they invested 25,000 Ether to help launch Ethereum 2.0. Against the background of news about Ethereum 2.0, Ether’s price has surged above $600, but as with Bitcoin, it came crashing down by the end of the week up to $507.
- Monero’s privacy is under attack?! The crypto analytics firm CipherTrace announced on Friday that they have technology capable of tracing transactions for privacy coin Monero (XMR), and have even filed the patents. Who knows if this technology will work properly, but Monero’s price fell 3.6% to $113 by the end of the week.
- Looks like Facebook decided to revive their project Libra. According to the official announcement, after more than a year of scrutiny from global financial regulators, Libra will be launched in January 2021 as a USD stablecoin. Libra still needs to receive approval from the Swiss Financial Market Supervisory Authority, or FINMA, to operate as a payments service but, as rumored, they will add more fiat currencies to the basket of assets that back Libra’s value.
- If you are a chess fan, this news is definitely for you. This week, Vitalik Buterin, the co-founder of Ethereum network, had a chess battle with Canadian master Alexandra Botez, which was live-streamed on Twitch. Despite Vitalik being a genius of blockchain, he lost this game.
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