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Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth.
Bitcoin (BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours.
BTC slightly above its 10-hour moving average but below the 50-hour on the hourly chart, a sideways signal for market technicians.
Friday is shaping up to be a better day in terms of volume at over $1 billion total for the eight major exchanges tracked by the CoinDesk 20 as of press time. Thursday’s figure was $965 million. However, weekends almost always have lower volume, such as last weekend’s $578 million daily average, according to CoinDesk 20 data.
The derivatives market is also a factor, according to Bonnefous. “There is a big concentration around the $16,000 strike for the BTC options expiry on 25th December, which acts as a polarizing target short term,” he said. The $16,000 strike is the third-most popular strike point in the bitcoin options market, based on data from aggregator Skew.
Ethereum active addresses uptrend in 2020
“The amount of gas fees spent on ETH deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, from around 26% in late October 2017, according to Glassnode data,” Vinokourov noted. “There is plenty of liquidity in the market. As such, DeFi tokens look particularly attractive even with the recent downside.”
MicroStrategy (MSTR), a leading business intelligence firm, announced Friday that it has raised $650 million worth of convertible bonds to finance more Bitcoin (BTC) purchases, underscoring CEO Michael Saylor’s conviction in the flagship digital asset.
T>he company confirmed Friday that it had sold $650 million worth of convertible senior notes at a rate of 0.750% due in 2025. The interest rate is payable semi-annually on June 15 and December 15 beginning in 2021.
According to the press release:
“MicroStrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending identification of working capital needs and other general corporate purposes.”
The raise was finalized mere days after the company first announced plans to leverage bond proceeds to acquire more Bitcoin. As Cointelegraph previously reported, MicroStrategy was initially targeting a raise of $400 million. At $650 million, the firm can purchase over 36,300 BTC at current prices.
A retro, Tamagotchi-inspired game that came to life at the end of DeFi Summer is launching in full on Jan. 4.
Initially funded by an ecosystem grant from decentralized finance (DeFi) protocol Aave, Aavegotchi aims to “make DeFi fun.”
In November, Aave officially announced its investment in Pixelcraft Studios, the Singapore-based company building Aavegotchi. And now the non-fungible token (NFT) game is hosting a series of raffles to reward early adopters ahead of its mainnet launch next month.
In short, each Aavegotchi is a playable avatar that represents DeFi collateral that is earning yield on Aave. That said, you can also battle the spooky little critters, level them up and equip them with wearables that change traits. As for the ghost theme, that’s because “aave” means ghost in Finnish.
The team behind Aavegotchi is building the game with Aave’s DeFi platform at its heart but it’s also incorporating the latest Chainlink oracles to create a fully on-chain experience – especially with provably random distributions.
A new paper imagines that if Bitcoin’s invention had preceded Twitter’s birth, the social network could have been decentralized and sidestepped many problems.
Exactly a year ago, Jack Dorsey, Twitter’s founder and CEO, announced the launch of Blue Sky, a nonprofit social network protocol that is supposed to decentralize Twitter. The mandate is simple: Dorsey asked a team of five to “either find an existing decentralized standard they can help move forward, or failing that, create one from scratch.”
Twitter's been mum on Blue Sky
Other than Dorsey recounting Blue Sky’s mission during the Oslo Freedom Forum, no one is talking. Blue Sky’s Twitter handle was last updated in April 2020 and its last tweet was in March when it reported that the team is “hoping to put together a decentralization ecosystem review and may reach out to people and projects in the space. Recommendations are welcome!”
A decentralized form of Twitter can’t happen soon enough. The social media platform of choice for President Trump, in July Twitter was the victim of a notorious hack wherein the accounts of notable billionaires and politicians such as Elon Musk, Bill Gates and Joe Biden were commandeered. Ironically, the scammers used the accounts to solicit Bitcoin. The scandal caused the Internet to question Twitter’s “God-Mode”security as well as Bitcoin’s legitimacy.