Bitcoin News 24h Market Movement October 19, 2021

The U.S. Treasury Department released a sanctions review and recommended that the government evolve its infrastructure and policies related to digital assets.

In an October 18 report, the Treasury Department said the increased use of digital assets is hindering the implementation of sanctions while offsetting funding from legitimate humanitarian organizations. The Treasury Department recommends that the government adopt a structured policy framework and, where possible, work with allies and partners to ensure that sanctions are understood, enforceable and adaptable. “The Treasury Department should modernize every aspect of“ having the right expertise, the right technology, and the right people ”to address the challenges of digital assets.

Following the announcement of a physically-backed Bitcoin ETF, Grayscale, a leading digital currency asset manager, announced the OTC trading of three altcoin trusts: Zcash, Stellar Lumen and Horizen

The trusts have started trading on the OTC market OTCQX under the tickers ZCSH, GXLM and HZEN. Funded by Grayscale, these funds are designed to bring investors closer to the price movements of the underlying assets. The main benefit for retail investors is that they can gain exposure to the market without having to buy, store and hold the underlying assets. Craig Salm, Head of Legal at Grayscale, stated that the trust is part of the company’s goal of moving its products from private placement to mass market. Currently, traders can leverage the OTC marketplace to gain access to digital assets beyond their ability to leverage their positions. You can now trade with Horiz, Stellar and Zcash trusts.

PARSIQ, a blockchain-based data monitoring system, is currently a technology partner of Amazon Web Services under Amazon Corporation (APN).

With this global partnership, all partners can develop groundbreaking applications on AWS and make them available through their own marketplace. In addition, the APN team will provide all partners with marketing, technical, consulting and advertising expertise. Therefore, joining APN as a technology partner for PARSIQ is a significant step on the way to widespread acceptance of blockchain tools. Through this partnership, PARSIQ will be able to host dedicated nodes on Amazon Web Services and use them to improve the visibility of its products within the APN ecosystem.

Leading crypto exchange Binance has announced the completion of its 17th quarterly token burn

The company burned over 1.3 million BNB tokens totaling approximately $ 639 million. This is Binance’s largest quarterly burn to date in terms of dollars. Burning is the process of reducing the amount of a token in circulation. Binance is well on its way to destroying 50% of all BNB tokens every quarter. The number of tokens destroyed per quarter is calculated based on the trading volume on Binance’s crypto exchange. Binance burned $ 393 million at BNB in ​​the second quarter and $ 595 million in the first quarter of 2021. BNB price rose a meager 1.2% after the incineration was announced, before a quick cut made even such a modest increase.

Mike Novogratz, CEO of Galaxy Digital, has pointed out that the price of Ripple’s native token (XRP) has tripled since the US Securities and Exchange Commission sued the company.

Although XRP initially fell more than 60% following a series of suspension announcements from exchanges following the SEC lawsuit, it managed to recover quickly when Ripple accepted the fight. The XRP community has not been left out, it recently won a small win with the judge allowing members to file legal pleadings as Amici Curiae (friend of the court). However, you cannot directly participate in court proceedings as a third party defendant. Although XRP has recovered from its initial decline and moved higher, XRP is still down more than 67% from its all-time high of January 7th.

Tesla and SpaceX boss Elon Musk has shown once again that he can still pump meme money with his tweets.

This morning Musk posted a tweet in which he “drew” an animal with a soaring missile that the community thinks is a Shiba Inu dog and could be related to Dogecoin or “boys” are destroying its SHIB. In the comment threads, several members of the crypto community posted SHIB charts, suggesting the crypto meme was up nearly 15% on this tweet from Musk. In addition, data provider Santiment’s analytics team spread the word about a recent surge in the number of SHIB transactions and $ 100,000 worth of SHIB transactions. Company experts have stated that when these large transfers are made in batches, the price of the coin usually goes up.

The NFT Rarible Token Marketplace has introduced a new functionality that promises users the ability to generate non-fungible tokens for free – while improving environmental sustainability on the platform.

Rather than the traditional method of storing data on the blockchain immediately after it is embossed, Rarible announced on Monday that as part of its new program, NFTs will be “embossed not at the time of creation, but at the time of creation, but at the time Buy creation. It is the buyer who pays the gas fee when purchasing this item. ”In this case, the data is stored on a decentralized peer-to-peer storage system called IPFS. The growing influx of people into the NFT space, which has been plagued to a large extent by consistently high gas fees in the Ethereum network, is increasing their barriers to entry and diverting many investors to alternative blockchains such as Solana. Because of this, the Rarible implementation is being welcomed by the community as a positive initiative, although its potential impact on the broader market is still unknown.

Listed blockchain and cryptocurrency investment firm Tokens.com has a breakthrough agreement to acquire a 50% stake in real estate firm Metaverse Group valued at over $ 0.6M public private investors looking for better access to NFT tokens and finance DeFi on a decentralized basis. The Metaverse Group operates a service similar to that of a traditional real estate company in that, in addition to marketing and advertising services, it also deals with the acquisition, development and management of real estate. However, the team differs greatly with the introduction of blockchain technology, games, and NFT, as well as myriad other technologies, including the metaverse. The Metaverse Corporation owns a collection of lands and properties that are valued in some of the world’s most popular Metaverse games such as Decentraland, The Sandbox, and Somnium Space.

The first US-based exchange-traded Bitcoin futures fund (ETF Bitcoin Futures) – ProShares Bitcoin Strategy – will launch on October 19 with the transaction code BITO. traded on the New York Stock Exchange (NYSE)

Michael Sapir (CEO of ProShares) said the launch is an important milestone for a crypto ETF in the US after years of efforts to list a fund on an exchange. This first product only tracks Bitcoin futures instead of tracking Bitcoin price directly. Gary Gensler said he believes futures-based products can offer greater investor protection because of the laws by which they operate. The news comes shortly after the US Securities and Exchange Commission (SEC) accepted a registration request for a ProShares Bitcoin ETF on October 15, Nasdaq.

A Mexican company uses blockchain technology to improve the reliability of COVID-19 diagnostic tests by using cryptography and the blockchain’s real-time testing capabilities to prevent counterfeiting and fraud

Medical services company MDS has launched a home rapid test and PCR sampling app specifically designed for responding to COVID-19. The results are sent back within 24 hours and certified with blockchain technology to ensure test acceptance and authenticity of the results in real time. MDS generates a unique hash associated with the results of each test and generates a QR code associated with a digital certificate with the personal data of the person performing the test, the doctor responsible for the test. This is just one of the many use cases of blockchain technology that outperforms the currency the North American country has previously successfully applied, such as implementing blockchain to digitize public administration records and integrating blockchain.

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