Monday, January 11, 2021

Jan 4 - 11 Good Crypto Weekly Market Summary

Quick weekly news:

  • Bitcoin Mining Difficulty Hits Record High Amid Miner Revenue Surge: Read more here.
  • Bitcoin’s Market Value Now Exceeds That of Facebook: Read more here.
  • Ethereum layer-two network to offer batched Tether payments: Read more here.

Other notable events include:

- The number of addresses holding over 1,000 bitcoin stands at a record high of 2,334

- Cryptocurrency exchange Bakkt is in advanced talks to go public

Rich list grows

The number of addresses holding over 1,000 bitcoin stands at a record high of 2,334, indicating that large bitcoin holders have been accumulating bitcoin during the market run-up. This comes after a brief depression in the total number of bitcoin “whales” in December. “The dip and renewed increase at the end of December shows relatively little interest in profit-taking on the part of these large holders, even though almost all holdings are currently in profit.

Going public

Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange, is in advanced talks to go public via a merger with a special purpose acquisition company (SPAC), Bloomberg reported, citing people with knowledge of the matter. The deal, if it’s concluded, would value the combined company at more than $2 billion, the report said. A deal could be announced as soon as next week.

Also, be sure to check out top altcoin gainers and losers of the week:

https://preview.redd.it/atyb0ws5hqa61.jpg?width=1200&format=pjpg&auto=webp&s=2d85158282251d11d57d408d26d0cfb063ef5ed7


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