Daily Crypto NewsEDITION #86, 25 November 2020

Missing Hype

Hey #Moni Maker 👌

Today, Turkmenistan celebrates Harvest Day. And the crypto enthusiasts are not lagging behind - we also had a fruitful year (especially the second half, + we've got another five weeks to go). In general, we are looking forward to 2021 - it's exciting to see what it will bring us! In the meantime, let's check out our digest.

Let’s go!

Bitcoin confidently overcame $19K, but there is still no hype around BTC. The chart shows mentions of Bitcoin in the media and the price of bitcoin.

References are now at a very low level when the price has almost reached ATH. Reddit users believe that we are now at the levels of 2016 (green numbers on the chart), and the real hype is still ahead.

However, regarding hype, Google Trends, for example, shows its low level while some experts believe otherwise.

So what?

We have already written about it, let's repeat. Little human nature is impressionable: on the one hand, people can quickly become impressed, but on the other hand, you should always increase the dose of hopium.

BTC should be 25-30 or even 40K to make at least 90% of the noise, which it did in 2017.

But does honeybadger really care?...

The question is rhetorical.

Another major investment company with $73 billion in assets is joining the crypto market - Pendal Group, with a $2.9 billion capitalization. The company plans to start trading bitcoin futures on the Chicago Mercantile Exchange (CME).

Pendal Group strategist Vimal Gore explained this decision by the fact that cryptocurrencies have become the mainstream. All major hedge funds have joined.

"All the big hitters in the hedge fund world are coming out to endorse bitcoin", said Vimal Gore.

Apparently, the company decided to follow Tudor Investment founder Paul Tudor Jones and billionaire Stanley Drakenmiller.

Once again, we will remind you about Grayscale, which holds 500 bitcoins.

So what?

Hmm, it's a good omen: If companies invest in BTC (or other crypto), then inflation will not spill over, as it happens during the crises.

In recent days, users deposited more than 524,288 ETH (~$320 million) to the address of the depository contract, required to launch the zero phase of Ethereum 2.0 update.

Vitalik Buterin's optimism proved to be justified. He had previously stated that innovations could kick in sooner than many would expect.

Let us remind that Ethereum 2.0 should solve one of the main ETH network problems - scalability. Currently, the Ethereum blockchain is capable of performing up to 15 transactions per second. After the upgrade, blockchain will increase its throughput to 1000 transactions per second.

In addition, ETH 2.0 plans to move to the Proof-of-Stake algorithm, which does not require computing power to confirm blocks. Instead of miners, transactions will be verified by validators (users who hold 32 ETH or more).

ETH capitalization has exceeded $70 billion, and the rate reached $620 for the first time since June 2018!

ETH 2.0 will be launched on December 1. And here you can read the communication of Vitalik with the people.

So what?

We wonder if ETH 2.0 will give a new breath to DeFi?

When we start falling (off the hype), put your oxygen mask on first and then tend to the children :D

The head of PayPal, Dan Shulman, is very optimistic about Bitcoin's prospects and believes that it has a great future as a means of payment. Dan also said in an interview with CNBC that the company would allow using Bitcoin and other cryptocurrencies as a means of payment for any transactions of all PayPal merchants from the beginning of next year.

PayPal wants to not just simplify the purchase, sale, and storage of crypto. Early next year, they will allow crypto to be a source of funding for any transaction with 28 million of our merchants. Using crypto as a potential payment instrument for daily purchases will increase its functionality and stabilize it.

Just yesterday, we were wondering where PayPal would get so many bitcoins for users.

So what?

Comrade, PayPal will buy up all the bitcoins and arrange crypto socialism! Well, which, like the previous ones, will work exclusively for money...

The capitalization of Tesla grew by about 650% YTD and overtook the half a trillion dollar mark, and Elon Musk bypassed the founder of Microsoft, Bill Gates, to become the second-richest man in the world. During this year, his fortune has grown by $100 billion!

So what?

Well, the richest man on the planet is Jeff *Buy it all* Bezos.

People want to buy goods on Amazon and leave this planet in a SpaceX. Ok.

And one more thing...Buy Bitcoin! 😉