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Last Updated : October 25, 2022 / 09:10 AM IST
Cryptocurrency roundup for October 25: Twitter developing a crypto wallet, Fidelity Investment says Bitcoin is an insurance agent against financial crisis, and more
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Market Buzz
What Twitter Says
Popular tech blogger Jane Manchun Wong claims that social media behemoth Twitter is developing a “wallet prototype” that would enable cryptocurrency deposits and withdrawals. In September last year, Twitter made it possible for users to tip content producers using Bitcoin. Mid-February saw the introduction of cryptocurrency tipping for Twitter users using Ethereum. The social networking site earlier this year also let users to display their non-fungible tokens (NFTs) in their profile photographs. Twitter might become a fully-fledged Web3 platform if bitcoin wallets are indeed added as predicted. More here. Read full here
Big Story
Fidelity Digital Assets: Bitcoin insurance against financial crisis
According to Fidelity Investments, in the near future, Bitcoin may stand in striking contrast to the path that the rest of the world and fiat currencies may take, notably the one of boosting supply, creating the additional currency, and expanding central bank balance sheets. The asset management company, in a report titled “The Rising Dollar and Bitcoin,” uses the United Kingdom as an example and claims that the central bank there is tightening in an effort to combat decades-high inflation while also dealing with market stress that calls for more liquidity in order to reduce financial volatility and prevent it from spreading. Read details here
Invest
Fidelity Investments strengthens its position in the crypto industry with new hires
Asset management company Fidelity is stepping up its recruiting strategy with the addition of 100 new employees to its digital assets section in what appears to be an effort to increase its presence in the cryptocurrency business. By the end of the first quarter of 2023, the new hirings will have brought the total number of employees at Fidelity Digital Assets to roughly 500. Take a look
Crypto Apps
Trading App Robinhood Adds Aave and Tezos Cryptocurrencies
Two cryptocurrencies – Tezos and Aave, have been introduced to the trading platform Robinhood, enabling users to purchase and trade the tokens on its platform. Robinhood tweeted the announcement on Monday, along with a link to a web page displaying the newly listed cryptos on Robinhood. Aave is a decentralized lending protocol, while Tezos is a proof-of-stake blockchain network. Market capitalizations for each of their native tokens exceed $1 billion. Read more here
Crypto Market Today
Crypto market flat on Monday
The cryptocurrency market traded flat on Wednesday, as the top digital currencies like Bitcoin and ether traded completely flat. Bitcoin’s market capitalization was down 0.8% and was trading around $19,300 levels. The second-largest cryptocurrency Ether (ETH) however, was up about one odd percent around $1,345 levels.
Market Minutes | All you need to know ahead of the opening bell
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Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
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