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HedgeTrade Weekly Insights
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HedgeTrade Weekly Insights
📣 Top News📊 Market Recap📈Charts👥Voices Hey Traders, Here is a quick snapshot of the latest news and developments! If you haven't checked out the app, sign up today, you'll be amazed! | | - HedgeTrade announced an exciting partnership with Bluzelle, a decentralized data network providing safe and censorship-resistance data services. The partnership will enable blockchain-interoperable trading tools and features to be built for HedgeTrade's growing user base. Read the press releases here or here.
| | - Bitcoin had a nice rally over the weekend, hitting the $10k mark several times as the Dow and NASDAQ closed out dismally last week. The rally followed continued altcoin surges and news of US regulators allowing banks to custody crypto assets. Read more.
- US Congress is putting together a new ~$2 trillion stimulus package to partially extend soon-to-expire unemployment benefits and provide stimulus checks to lower-income Americans. (Directly after the first stimulus checks were sent out, Robinhood exchange saw a surge in retail investors.) Read more.
- The Monetary Authority of Singapore wants regulatory oversight to include crypto market activity beyond its borders. A new proposal extending its 2019 Payment Services Act will expand to monitoring the overseas activity of Singapore-based crypto companies and individuals. Read more.
- The Winklevoss brothers and their crypto exchange, Gemini, are teaming up with Unstoppable Domains to provide custody services for .crypto web domains. Read more or learn about Unstoppable Domains.
- Crypto Mom and SEC Commissioner Hester Peirce voiced her support of the crypto industry at a Singapore Blockchain Week event by blasting the SEC's decision to shut down Telegram. This will lead, in her opinion, to a mass exodus of innovators from the US to other more supportive regions. Read more.
| | Last week's biggest gainers from the top 35 coins: Cardano (ADA) 9.39% Ethereum (ETH) 9.09% HedgeTrade (HEDG) 6.33% Ampleforth (AMPL) 5.09% Maker (MKR) 5.24% XRP 4.69% | | DeFi continues its rampage of crypto markets. yEarn's YFI governance token soared from $30 to $4000, driving $300 million to the platform, while the DeFi project Orion Protocol raised $3.45 million in a dynamic coin offering (DCO). The dollar value locked up in DeFi shot up to over $4 billion, after crossing the $2 billion thresholds just a few weeks ago. Read more. | | Top Quotes & Tweets "The two largest cryptocurrencies, Bitcoin and Ethereum, are on pace to settle a combined $1.3 trillion in transactions in 2020. For perspective, PayPal did $712 billion in payments volume in 2019." - TheGivingBlock "With the appearance of senior developers and mostly open tools, blockchain gaming is unlocking previously unimaginable value for creators and gamers alike. For the first time, a truly open entertainment economy can be built." - Artem Kabanov, CoinTelegraph "ADA is one of those coins I can't imagine not holding right now." - Benjamin Cowen, IntoTheCryptoVerse | | Have a profitable week! -The HedgeTrade Team | | | |
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