First Mover: Resistance Is Futile as Bitcoin Breaches $15K, Crypto Gets Greedy
Source: Google Trends
Web search data suggests popular interest in bitcoin remains at normal levels, despite a sharp price rally to near $16,000. Google’s data suggests that retail investors are showing calm over bitcoin’s recent rally and the market is far from being in a state of bull frenzy.
What's Hot Ethereum founder Vitalik Buterin sends $1.4M of ether in preparation for second-biggest blockchain network’s “2.0” upgrade to staking system (CoinDesk) Jack Dorsey’s Cash App generated an eye watering $1.63 billion in bitcoin revenue during Q3 of 2020 (CoinDesk) Buggy code in this Compound Finance fork just froze $1M in Ethereum tokens (CoinDesk) Fidelity launches engineering hiring initiative to build out crypto trade and custody services (The Block) Bitcoin “accumulation addresses” rise to record high of more than 519K (CoinDesk) South Korean crypto firms must disclose users’ identities under planned law change (CoinDesk) Lightning Network operators are bracing for the curious new users that usually come with a bull run (CoinDesk) Bitcoin is the new Amazon (CoinDesk Opinion) Swiss fintech firm Taurus wins Sygnum Bank as client of digital-asset custody services (CoinDesk) Ethereum transaction fees ebb as DeFi fever subsides (CoinDesk Research): Ethereum fees. Source: Coin Metrics, CoinDesk Research Analogs The latest on the economy and traditional finance U.S. October employment report expected to show gain in nonfarm payrolls of 530K, slowing from September’s 661K (CNBC) Australian regulator reduces the assets banks must hold in a central-bank committed facility by $25B, acknowledging that institutions are increasingly buying government bonds considered low-risk to meet the threshold (Reuters) U.S. jobless claims remain elevated, at higher-than-expected 751K for most recent week (St. Louis Fed) Federal Reserve holds rates close to zero, maintains asset purchases, argues for more fiscal support, pledges more monetary support if needed (CoinDesk) Tweet of the Day Sign up to receive First Mover in your inbox, every weekday.