At the beginning of the week, Bitcoin was trying to overcome the $11,100 resistance level.
And there were also hopes that volatility would increase towards the end of the week - this Friday, the expiration date of 86.8 thousand bitcoin options expired. But, even on Monday, towards the end of the day, bitcoin continued to decline to the level of $10,500. Local stops were broken on cryptocurrency exchanges, as a result of which trading volumes increased markedly.
Users of the European division of the Japanese cryptocurrency exchange bitFlyer now have the opportunity to buy cryptocurrency on the platform for euros from wallets of the PayPal electronic payment system.
Both parties have already signed documents, thanks to which new functionality will appear on the trading platform.
US banks have been allowed to hold reserves backing stablecoins.
This information was indicated in an explanatory letter from the Office of the US Comptroller of the Currency. However, the document clarifies that at the moment the rule will apply only to stablecoins backed by another currency in a ratio of 1:1, which means that tokens dependent on currency baskets, for example Saga or some versions of Libra, are excluded. Tether is an exact example of a US dollar—linked stablecoin that uses reserves stored in New York.
The first regulated cryptocurrency exchange has started operating in Canada.
Crypto exchange Wealthsimple Crypto, which is supported by the Winklevoss brothers, has gained the status of Canada's first regulated crypto exchange. On September 22, 2020, this platform launched trading for all residents of the country. Now its users can trade BTC and ETH through the Wealthsimple Crypto mobile app. Wealthsimple Crypto will not store crypto assets on their wallets. This service is provided by Gemini Custody, the custody service of the Winklevoss brothers.
Tyler Winklevoss, co-founder of Gemini crypto exchange, against all odds, continues to point to bitcoin as the best asset.
One of his last statements on Twitter was as follows:
"Bitcoin is not only equal to gold, it is even better than it. Over the past decade, the cryptocurrency has grown significantly in value, showing the best performance."
This cryptocurrency is often compared to gold, and gold has been known to be the most reliable form of capital storage for thousands of years. Tyler Winklevoss is sure that due to the limited issue, the BTC shortage will increase on the market. And this, in turn, will lead to a long-term increase in the price of the asset.
Venezuela legalized mining - from now on, miners must obtain a license to work in the region and join the "national pool", which will be regulated by the National Committee of Digital Assets (SUNACRIP).
It will also offer various benefits, including tax incentives to attract miners. Otherwise, violators will be subject to penalties.
The American cryptocurrency exchange Gemini, led by the well-known Winklevoss brothers, entered the UK market on Thursday, September 24, 2020.
For residents of Britain, it is now possible to transfer British pounds to the stock exchange using bank cards to buy cryptocurrencies. Gemini also supports Faster Payments Service, Clearing House Automated Payment System and SWIFT payment systems. Many are interested in the question of whether Gemini plans to add support for PayPal, but representatives of the exchange are still at a loss to answer this question.
Roskomnadzor has been included in the register of banned Binance crypto exchange.
What was happening was explained by the fact that the website of the trading platform is subject to blocking due to the dissemination of information about the possibility of acquiring bitcoin.
Pax Dollar (USDP) represents an innovative stable cryptocurrency closely tied to the value of the US dollar. Developed by Paxos, this token ensures secure financial transactions in the world of cryptocurrencies, preserving asset value without the noticeable price fluctuations inherent in many other digital currencies.
Cryptocurrency volatility refers to the degree of price variability in digital assets such as Bitcoin, Ethereum, and other altcoins on financial markets. This concept reflects price fluctuations over a specific period of time and is measured in percentages.
Mining is the intricate process of extracting digital currency executed by active participants within the cryptocurrency network, utilizing specialized equipment. Essentially, it mirrors traditional mining in a virtual realm where individuals, referred to as miners or validators, actively involve themselves in the validation and organization of financial transactions into blocks.