Glassnode

Glassnode: the number of addresses with balances above 100 BTC reaches a six-month high

The last time the number of wallets with over 100 BTC almost reached its current level was June 8 - then there were 16,158.

The company's analysts note that on October 19, the number of bitcoin addresses with a non-zero balance increased to 31,913,344. About 5,000 of them were registered in the day before the data was published.

Glassnode said last week that growth in the number of addresses owned by large bitcoin holders containing 1,000 BTC or more slowed in September. In addition, in early September, the company's analysts noted that the number of wallets storing at least 1 BTC continues to increase and has reached a new record.

According to The Block, in addition to the growth in the number of wallets, the number of transactions and the volume of commissions on the Bitcoin blockchain also increased significantly in the third quarter of this year. Over the past quarter, transactions worth $ 225 billion were made on the Bitcoin network. That is, on average, users performed transactions worth $ 2.4 billion per day.

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PayPal Adds Cryptocurrency Support For US Users

US citizens will be able to conduct cryptocurrency transactions via PayPal in the next few weeks, and the company's Venmo mobile payment service will add this capability in the first half of 2021. On this news, bitcoin rushed up and is preparing to overcome $ 12,500, updating the maximum since last summer.

In addition, from the beginning of next year, it is planned to open these functions to other countries, so that all PayPal customers can use cryptoassets to buy goods in 26 million stores around the world. When making cryptocurrency payments through PayPal, they will be converted to fiat currency (for example, the US dollar). This means that for sellers, everything will remain the same - they will receive payment for goods in ordinary money.

PayPal has been licensed by the New York State Department of Financial Services (NYDFS) to provide payment services using cryptocurrencies. This license is issued to companies that do business with licensed firms, which is why PayPal has partnered with Paxos Trust Company.

PayPal CEO Dan Schulman hopes that with the addition of cryptocurrency support, PayPal will help the industry grow on a large scale. In addition, this step will prepare the system to work with new digital currencies, which in the near future may be issued by corporations and central banks of different countries.

“We work with central banks, so we are considering interaction with all forms of digital currencies. PayPal will contribute to the development of the cryptocurrency industry, ”said Daniel Schulman.

Last year, PayPal CFO John Rainey said the company is taking a cautious stance towards cryptocurrencies due to their high volatility and a "dim" future. However, with central bank analysts actively exploring the possibilities of launching their own digital currency, PayPal management has changed its mind to follow the current trends.

A year ago, PayPal refused to participate in the Libra project. Shulman explained that it is better for the payment system to focus on its own development. If Libra's prospects become more specific, PayPal will again be able to become a participant in the project, since it is supportive of the blockchain.

Deribit exchange users must be verified by the end of the year

Today Deribit has two levels of identification. Level 0 customers are required to provide only basic information: name, email, date of birth and address. At this level, it is allowed to withdraw up to 1 BTC and 50 ETH. The first level provides for unlimited withdrawal of funds - for this you need to provide a passport and a document confirming the address of residence. In accordance with the improved KYC procedure, such requirements will soon apply to all users of the exchange.

Jensen added that Deribit is taking the necessary precautions. The exchange regularly performs checks on IP addresses, and has blocked the accounts of US citizens for several years. Some users have already received notifications from Deribit that access to the platform is closed, as they are US residents. Jensen explained that these users may indeed be citizens of this country, however, in most cases, clients simply switch to a US IP, so they may receive such a notification.