From the point of view Bitcoin may reach $ 10,000 in February to the next target of ETH is the threshold of $ 200. Here are some highlights in the crypto market.

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Bitcoin news

On Sunday, renowned analyst Filb Filb said that the current chart offers a bullish prospect for Bitcoin because of Google's very good volume indices, not to mention the moving averages of the trend. increase. He added that the monthly chart along with his proprietary indicator is showing a buy signal, which means that BTC is about to make a sharp price increase, which will pull Bitcoin for the first time to reach the threshold above $ 10,000 after much. month.

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Bitcoin price trend chart | Source: Telegram Filb Filb

Oil prices collapsed on concern that the market might spur investment in Bitcoin

The Organization of Petroleum Exporting Countries (OPEC) and Russia have agreed deployment regular meeting in March due to the collapse of oil prices. Oil prices fell more than 20% in January amid concerns about cutting demand related to the corona virus outbreak.

This supply and demand activity has pushed oil prices to a low level throughout the year. Bitcoin, however, shows stability and strength amid rising global fears.

Bitcoin started February with a 2% growth, after a sharp 26% increase in January. Fear of the disease and its impact spurred investors into Bitcoin as it was considered a talent. safe shelter products. This trend can continue, when oil prices decline without braking.

Twitter added emojis to Bitcoin, Jack Dorsey made a similar suggestion with Unicode

Twitter co-founder and CEO Jack Dorsey tweeted the newly added Bitcoin emoticon on February 2 and tagged Unicode with the suggestion to let them do the same.

Currently, whenever Twitter users write a Bitcoin or BTC hashtag, an image showing its icon appears next to it.

Bitcoin Bakkt open interest rate reached an all-time high

When Bitcoin had the best January-closing performance in the past seven years, open interest rates soared to an all-time high on the Bitcoin Bakkt futures market.

According to data from Bakkt Volume Bot, on Friday, Bakkt's settled contract saw a new record with an open interest rate of $ 11.6 million, up 114% in a week. In the context of a sustained uptrend, this increase reflects many new buyers entering the market and opening long contracts, expecting higher prices.

Companies are increasingly using Bitcoin

According to Bill Zielke of BitPay CMO, the payment processor made $ 1 billion worth of cryptocurrency transactions in 2019, with Bitcoin leading the way. Similarly, a Coinbase spokesman said Coinbase Commerce processed $ 135 million worth of cryptocurrency payments to thousands of companies in 2019, an increase of 600% over 2018.

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Ether and various stablecoins account for a small percentage of the total 4 billion USD BTC value has been sent through payment processors in 2019.

Bitcoin futures volume exceeds $ 2 trillion on Bitmex

Hayes pointed to Bitmex's trading volume figures. He said that with the turnover of Bitcoin futures (XBT) nearing $ 288,000 per day, the total volume of transactions, since launch, has exceeded $ 2 trillion.

“The XBTUSD swap may have exceeded $ 2 trillion in total trading volume since it launched in 2016.”

BitMEX is one of the first Bitcoin futures exchanges (XBT). It is also a pioneer in other derivatives areas of cryptocurrencies, perpetual contracts.

Ethereum News

Ethereum quickly regained its $ 180 range for the week and even went higher, with the aim of restoring the price of $ 200. The price of ETH has risen to $ 191, with trading volume amounting to more than $ 13 billion. in the past days.

With significant gains over the weekend and if this continues, ETH could soon reach the $ 200 threshold.

“The price has hit the weekly and monthly resistance levels. If it can surpass the $ 200 level, the ETH price will grow strongly. I will look for sell signals in the coming days. ”

IOTA news

Serge Invancheglo, who worked at IOTA and the Paracosm platform is threatening to take legal action against IOTA co-founder, David Sonstebo with allegations of embezzlement of 25,000,000 MIOTA ⁠, worth 7.7 million USD at current prices.

Serge Ivancheglo posted on Twitter, announcing the breakaway between him and David Sonstebo. The dispute appears to involve questions surrounding funding for JINN Labs, a computer hardware company founded with David Sonstebo in 2014, which is the forerunner of the IOTA project.

“I would like to inform the IOTA community that I am no longer working with David Sonstebo and are contacting lawyers to reclaim my 25 million MIOTA amount.”

Binance news

Binance announced the transaction restoration for ETHBULL / USDT, ETHBULL / BUSD, ETHBEAR / USDT and ETHBEAR / BUSD pairs at 10:00 AM (UTC) on February 3, 2020.

Ripple news

Ripple is in a bull trend

Another asset that caught the upside this weekend was Ripple's XRP. XRP price has reached the threshold of $ 0.24, although trading volume has only increased slightly to $ 1.8 billion. XRP is still trading at lower volumes than some altcoins and traders are still quite cautious about it.

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Ripple price today | Source: Coinmarketcap

Whale moving XRP

Whale Alert announced that approximately 68 million XRP ($ 17 million) were moved from unidentified wallets to Bybit. In addition, 29 million XRP (about $ 7.3 million) were withdrawn from the Bithumb whale to unidentified wallets.

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Whale moving XRP | Source: Whale Alert

News TRON

Sun has invited all members of the global cryptocurrency community to participate in the activities of the new security protocol MPC Torch. To become a contributor to the protocol, users should operate the server and register via email.

“TRON's MPC Torch project is based on zk-SNARKS with the goal of reshaping the Internet. To date, 20 people have participated in the project. “

Moreover, each participant will receive a special reward of 100 USD. At the moment, about 20 members have joined the group.

In addition, Sun also tweeted the announcement that the XRP / TRX and ETH / TRX trading pairs were operating on the Poloniex exchange.

DAI news

Nearly half of DAI's total supply, about US $ 50 million, is now in a savings account, with interest rates approaching 8% a year.

Just a few weeks after the DAI Multi-Collaterals launched, its market capitalization seems to have doubled, currently at $ 106 million.

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DAI market capitalization in February 2020 | Source: Trustnodes

The limit of $ 100 million has now been lifted because other assets can be used as collateral.

When the upgrade took place, about 50% of users turned to DAI while the rest, about $ 25 million was still Single Collaterals FALSE.

Thus, there are currently about $ 133 million tokenized, which means that an additional $ 33 million has been added recently.

MATIC News

Matic announced that staking has begun on Testnet, and has called for people to be ready for Phase 1 Counter Stake with the goal of gradually releasing the features of authentication nodes. The total reward of the staking pool will be a $ 40,000 MATIC amount.

News Deribit

The Deribit exchange reported that Bitcoin options contracts had a strong growth, at 70% of revenue for the month. In addition, options volume peaked in January 2020, with more than 180,000 contracts traded.

Other news

Cambodia announced the national cryptocurrency

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With China still leading the way, other countries are pushing for payment systems development projects around central bank digital currencies (CBDC). Cambodia recently revealed it will create its own coin.

Cambodia will issue government-backed cryptocurrencies as a blockchain-based peer-to-peer payment and transfer platform. Called the “Bakong Project”, this system is expected to launch in the next few months, as it has the support of 11 banks. Many other banks are expected to join the project in the near future.

Wiklevoss brothers get 06 patents on stablecoins

The owner of the Gemini cryptocurrency exchange, the Winklevoss brothers, has gotten a bunch of license of invention of the United States for stablecoin technology which they may issue by commercial banks.

Six patents, awarded between August 2019 and January 2020 to the intellectual property company of Tyler and Cameron Winklevoss, outline a system that allows users to exchange fiat money directly for digital currencies. their digital.

The stablecoin system needs “trusted organizations” responsible for creating, exchanging and destroying stablecoins, as well as holding 1: 1 mortgage fiat assets with the number of tokens issued.

That organization may be a Gemini exchange, but “other types of trusted entities (eg banks, trust companies, etc.) can also be used for issuing, managing, acquiring. and / or in other words stablecoin management.

The tokens of the exchange created strong price increases

Exchange tokens like Binance Coin led the entire market, seeing a spike in double-digit growth in January.

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Chart of price increases of tokens of the exchange in January 2020 | Source: cryptorank.io

BitMax Token took the lead with a + 34.8% increase in January. Binance Coin ranked second in terms of + 31.39% growth. Other tokens with a two-digit increase are Gatechain Token with + 25.73%; Kucoin Shares with + 25.32%; Huobi Token with + 24.73%; and OKB with + 21.37%.

UAE Ministry of Health launches Blockchain Platform for medical data

The UAE Ministry of Health (MoHAP), together with the Presidential Office, Dubai City Department of Health and other agencies, has launched a blockchain-based health data storage platform.

Follow notification On February 2, the platform helps improve the efficiency of MoHAP and the intelligent health services of other health agencies. It will help users streamline their search for licensed health facilities, medical and technical staff, as well as learn about drug supply chains.

According to Dr. Lubna Al Shaali, Director of Public Health Policy, the new blockchain platform will help keep data secure, decentralized and encrypted databases immutable, verifying the validity and reliability of data.

Viet Cuong

Bitcoin Magazine

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