Bitcoin keeps oscillating strongly between $ 11,000 and $13K plus, yet analysts believe it is primed for passing the $ 14K level. Coinbase and Ripple support financing of NEAR a company which is a developing a direct alternative to the Ethereum and Tron platforms. The Near Protocol would be faster and much easier to implement for new developers.
Cryptocurrencies & Markets
In the past two days, Bitcoin’s price has gained around $1,000 and surpassed $13,150 on major crypto exchanges. There is a consistent inflow of institutional capital, and the hash rate of the Bitcoin blockchain network has reached its fastest rate of growth in history. An increase in the hash rate equates to growth in the amount of computing power securing the network, which increases confidence from the mining ecosystem. Miners have already enough capital to finance their operations throughout the next 12 months. They will not sell Bitcoin soon, waiting for the block reward to halve next year. With lots of demand hitting little supply, the price will go higher.
The government of Zimbabwe banned the use of the U.S. dollar. Bitcoin trading is booming as a circumvention of government bans. Some citizens used cryptocurrencies to offer services based on blockchain technologies to bypass government restrictions. Zimbabwe is one of the most important BTC markets in the southern part of the African continent.
NEAR is new public blockchain to build decentralized applications in competition with leaders like Ethereum, EOS, and Tron. It is specially conceived to be easy to use for new developers and it has been developed by programming veterans from Google, Facebook, and other hi-tech giants. It has just raised over $12 million in a funding round led by Metastable Capital, a crypto hedge fund. Several other backers have participated in the project, including Coinbase Ventures, Ripple’s Xpring and Pantera. The company’s mission is to increase transaction throughput and remove any theoretical limit. The new funds will help recruit more developers and accelerate the development of the platform.
Exchanges, Trading & Payment Platforms
Coinbase is the biggest cryptocurrency exchange in the United States. It is looking to launch its captive insurance company in partnership with insurance brokerage firm Aon. It would finance its retained losses in a formal structure under the guidance of a state insurance department. That would allow the company to keep the money they would spend on the insurance premium.