January 23, 2021

New record at Bakkt, Binance in Ukraine, Ethereum 2.0 and other events of the week

In the traditional Sunday digest, we recall how the outgoing week was remembered. Among the significant events: Bakkt's new achievement, Istanbul hard fork date confirmation, State Duma negative and Binance positive.

Price below $ 9000 and a new record at Bakkt

The other day, the price of bitcoin finally broke out of the shackles of a flat, generally justifying the forecast of ForkLog analyst Vladislav Vlasenko.

New record at Bakkt, Binance in Ukraine, Ethereum 2.0 and other events of the week

Four-hour chart of BTC / USD exchange Bitstamp from TradingView

Supported by rising trading volumes, the price expectedly failed support in the form of a 200-day moving average.

It is noteworthy that against the backdrop of a change in market sentiment, the number of traded monthly futures on Bakkt reached a new historic high at 1,741 (> $ 15 million).

Despite the obvious stagnation, some analysts do not lose optimism. For example, The Wolf of All Streets found a bullish pattern of an upward triangle on the hourly chart:

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Some top altcoins showed a positive trend during the week:

New record at Bakkt, Binance in Ukraine, Ethereum 2.0 and other events of the week

Data: CoinMarketCap

The undisputed leader among the top ten is Stellar, whose supply volume decreased by 55 billion.

Bitcoin is currently trading at $ 9,000. Market capitalization of $ 243 billion, BTC dominance index - 66.4%.

Ethereum again

A few days ago, developer Peter Siladiyi confirmed that Istanbul hard fork will be held approximately on December 4.

Protocol update is activated on block # 9 069000. For the successful implementation of the hard fork, a service version of the popular Geth client (v1.9.7) has already been released, in which, among other things, a fork ordering mechanism has been introduced to avoid the emergence of new chains. The memory algorithm of the Ethereum virtual machine has also been optimized, which should increase its performance.

It turned out that the hard fork was already successfully activated on October 30 in the Görli test network. Activation in the Rinkeby testnet is scheduled for November 13th.

In parallel with preparations for Istanbul, work is underway on Ethereum 2.0. According to coordinator Danny Ryan, the launch of the public test network of the second version of the broadcast can take place in two weeks.

Specifications are being finalized,necessary to run the testnet. A deposit contract is also being standardized, which will allow you to transfer funds from the first version of Ethereum to the second.

Just talk what about Tether

Tether reacted to a recent study by professors John Griffin and Amin Shams, according to which a major Bitfinex player could manipulate the price of bitcoin in 2017.

The statement that one whale could beresponsible for the rapid rally of Bitcoin in 2017, Tether was called “ridiculous”. The company also accused Griffin and Shams of not understanding the cryptocurrency market.

“This is an insult to millions of people in our community who believe in the sound principles that govern the economy of digital currencies.”, - stated in the statement.

Tether emphasized once again that she had never used USDT to manipulate the cryptocurrency market, and all tokens are fully secured and issued in accordance with market demand.

Also in the outgoing week, Tether pleasedthe bulk of the crypto community criticizing Craig Wright’s “self-proclaimed Satoshi”. The company has promised to support lead bitcoin podcast Peter McCormack in a lawsuit against Wright in the UK.

The special logic of the Russian authorities

The board of the Ministry of Internal Affairs of the Russian Federation instructed law enforcement agencies to develop a legal mechanism for the seizure of virtual assets for confiscation by December 31, 2021.

Rosfinmonitoring, the Prosecutor General’s Office, the Investigative Committee, the Ministry of Justice, the FSB, the Federal Customs Service and the Federal Security Service with the participation of the Supreme Court will take part in the preparation of the rules.

To arrest a cryptocurrency held on a stock exchangelaw enforcement officers could theoretically write an official request to the site management with a request to block the funds of a particular client. To transfer virtual assets to the state account, government agencies will need to open cryptocurrency accounts.

Despite the fact that the regulatory framework for the crypto industry in the Russian Federation is still not really created, the State Duma called the idea of ​​confiscation of cryptocurrencies a “logical step”.

Also recently, the chairman of the State Duma committee onAnatoly Aksakov expressed the opinion that the Russian authorities should block the possibility of "unfair" use of cryptocurrencies. In his opinion, digital assets are often used for money laundering, drug trafficking and other criminal acts.

In a similar tone, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, earlier stated that private money threatens financial stability.

Binance and Ukraine

The Ministry of Digital Transformation of Ukraine has signed a memorandum with the Binance exchange. It is expected that the platform will begin work in the country by the end of the year.

According to the deputy head of the Ministry of Digital Affairs, Alexander Bornyakov,Binance is going to open a legal entity in Ukraine and has already familiarized itself with the draft laws governing the crypto industry, without making any complaints. The head of the department, Mikhail Fedorov, said that the launch of Binance in Ukraine will “fill the budget” and will become a strong driver for the legalization of cryptocurrencies.

Shortly after signing the Binance Exchange Memorandumadded the ability to deposit and withdraw Ukrainian hryvnia using a bank card and Advanced Cash service. Currently, three assets can be purchased for the hryvnia on the most popular cryptocurrency exchange - Bitcoin, Ethereum and Ripple's XRP token.

New record at Bakkt, Binance in Ukraine, Ethereum 2.0 and other events of the week

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Binance also added support for fiat euro. The processing partner was Advanced Cash.

Pakistani Satoshi

Pakistani native James Bilal Khalid Kaan, calling himself the true creator of bitcoin, has published a series of videos in which he spoke about his vision of the development of the first cryptocurrency.

According to him, he created Bitcoin to rule outout of financial transactions by third parties and provide opportunities to all who were denied by the traditional system. He called for "joining him to create a free world."

"Trust me."

In another video, he described the process of introducing artificial intelligence into bitcoin.

Happy ticket

An Illinois resident won $ 500,000 in a lottery and invested half in bitcoins in May. The first cryptocurrency since then has risen in price by almost 65%.

Reddit user with the nickname joxnlol posted his photo with the confirmation of the lottery results and the signature:

"Did this. Then he invested half in BTC in May. Remind me after 8 months. ”

New record at Bakkt, Binance in Ukraine, Ethereum 2.0 and other events of the week

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He noted that after taxes, the gainamounted to approximately $ 357 thousand. His investments in the first cryptocurrency amounted to about $ 178 thousand, and his profit exceeded $ 100 thousand. An extremely successful investor also promised that he would not touch the cryptocurrency “for at least another year”.

Our YouTube

A regular guest of the Bitcoinization column, Andrei Sobol, spoke about the upcoming Istanbul hard fork on the Ethereum network

The cryptanarchist Smuggler discussed privacy issues with ForkLog:

A meeting was held in Moscow dedicated to the Tezos project: