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Cryptocurrency

Big Eastern European Bank begins Crypto trading

Belarusbank, the largest bank in Belarus, has opened crypto services to its clients in the country.

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Big Eastern European Bank begins Crypto trading

An East European bank Belarusbank, the largest bank in Belarus, has opened crypto services to its clients in the country, offering consumers, options in purchasing and selling cryptos.

In a report credited to PrimePress, such services were made availably by a partnership with Whitebird in offering its bank customers in the Eastern European country and Russia the option to buy and Sell Cryptos, and hope to add such services to more countries to this list as well as expand the list of offered digital assets.

READ: Kuda Bank: Changing the face of banking for the millennial

  • Belarusbank began offering crypto services on Friday, allowing its clients, buy and sell cryptos via using Visa cards. Furthermore, it has plans to add a total of four fiats for crypto purchases: US dollar, Belarusian ruble, Russian ruble, and euro.
  • Belarusbank is a state-owned bank with a 99.95 percent government share in it. The bank was reorganized in 1995 by merging with Sberbank of Belarus.

READ: U.S top regulator speaks on Cryptos and future of banking to U.S Congress

What you should know: Recall Nairametrics a few weeks ago, revealed how well-known U.S proprietary trading firms and venture capital companies are now in the buzz of buying cryptos amid the bullish trend playing out at the world’s fast-changing financial market.

Data retrieved from Messari researcher, Mason Nystrom, showed a top U.S proprietary trading firm, Jump Trading – with expertise in algorithmic and high-frequency trades and 700 employees globally, accumulating six DeFi cryptos quietly.

READ: Ripple emerges as fourth biggest fintech company globally, worth $10 billion

What this means: The many global economic challenges prevailing around the globe which include the exponential rise of COVID-19, inflation, and the alarming plunge in value for most fiat currencies have made paper money an unreliable store of value

Thus, pushing these elite firms to store their value in a deflationary currency like crypto, which can help them to hedge against inflation and further used to preserve wealth.

READ: KuCoin recovers 84% of Cryptos stolen by hackers

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Cardano running on hot steam, bounces above $1 mark

Cardano at the time of writing this report was trading at $1.047324, up 20.35% on the day.

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Cardano, the sixth most valuable crypto is enjoying impressive gains amid record-buying pressure from crypto investors.

At the time of writing this report, Cardano was trading at $1.047324, up 20.35% on the day. It was the digital currency’s biggest one-day percentage gain since February 20, 2021.

Such appreciation sighted in the fast-rising crypto asset, pushed Cardano’s market value to $32.38 billion, or 2.10% of the total cryptocurrency market value. At its highest, Cardano’s market cap was pegged at $35 million.

READ: Cardano flying on a record high amid top American singer’s buy

Cardano had traded in a range of $0.899630 to $1.047324 for the day.

Over the past seven days, Cardano has seen a rise in value, as it gained 21.56%. The volume of Cardano traded for the day at the time of writing, was $10.583078 billion or 4.48% of the total volume of all cryptocurrencies.

It has traded in a range of $0.8115 to $1.1971 in the past 7 days.

Highly revered crypto analyst/trader, Michaël van de Poppe also recommended the fast-rising crypto asset.

READ: Bitcoin more valuable than any global bank

In a video (titled “Cardano Breaks $1 But $10 Is Possible In This Bull Cycle! Here’s Why!”) released recently the crypto pundit told his followers on Youtube channel that:

“Cardano going towards $10 is not that weird to calculate from here, especially given the fact, and I’ve been saying this in the past week multiple times, especially given the fact that Cardano and mostly all the Bitcoin pairs are just barely waking up. So there’s still much more to gain for the Bitcoin pairs.”

  • Cardano (ADA) lately has been tipped to outperform, on the bias that it is headed towards its smart contract launch last month, leading to a significant amount of applications built on Cardano in 2021.
  • This means that more developers will see it as an attractive medium for building their desired apps.

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Billionaire Watch

Elon Musk’s SpaceX is exploring the merits of buying Bitcoin

SpaceX, a company founded by Elon Musk is exploring the merits of buying Bitcoin, according to MicroStrategy CEO, Michael Saylor.

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Elon Musk needs $20 billion wealth gain to clinch world's richest man title

MicroStrategy CEO, Michael Saylor, has revealed that SpaceX, a company founded by Elon Musk, is exploring the merits of buying Bitcoin.

Saylor revealed that top representatives from SpaceX were among 7,000 companies represented at MicroStrategy’s recent Bitcoin seminar, which the leading business intelligence company organized to aid companies interested in buying Bitcoin as a treasury asset.

READ: Bitcoin bounces back after losing $13,000 in a space of 2 days

“We had people from SpaceX there. We had people [from] some of Elon Musk’s companies. We had people from Marathon there.

“The ones you would expect were there, but of course, there’s an avalanche of private companies, and there were a decent number of public companies and treasurers and CFOs that were lurking.

“Some don’t want to have their names mentioned, as you can imagine, because it’s a sensitive topic,” Saylor said.

READ: Panic in crypto market as over $140 billion got wiped off

However, a significant number of traditional finance experts are not buying into the flagship crypto bullish run, as they see little value in the digital currency on the account that they believe Bitcoin, and other leading cryptos are just part of a larger speculative bubble.

Recent reports suggest SpaceX raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

  • Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.
  • A November 15, 2016 filing with the Federal Communications Commission revealed that the tech billionaire owned 54% of SpaceX.

READ: Tesla loses $200 billion in market value following Bitcoin investment

Micheal Saylor has always been a strong fan of the world’s most popular crypto asset and he thus shares the bias that companies can use Bitcoin to hedge against future fiat inflation and allow them to plug into a revolutionary and superior monetary network.

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