2 March

“Investment bank Goldman Sachs has relaunched its cryptocurrency trading desk after a three-year hiatus and plans to once again support bitcoin futures trading. The source said the service would resume in mid-March.

The desk is part of a broader push into digital assets that may see Goldman attempt to stage a bitcoin exchange-traded fund, Reuters said.

The bank had originally planned to launch a crypto desk in 2017 but shelved those plans in 2018 due to regulatory concerns.”

See Also: Fidelity’s Head of Global Macro Says Bitcoin May Have Place in Some Portfolios

“Bitcoin could become the currency of choice for international trade, thanks to its decentralized design, lack of foreign exchange exposure, fast (and potentially cheaper) money movements, secure payment channels, and traceability.”

“Google Finance, a data site maintained by the tech giant, now has a dedicated “crypto” field. And it has prominent placement, too. Right at the top of the page, where users can “compare markets,” crypto is listed among the five default markets, which also includes U.S., Europe, Asia and “Currencies.”

The tool provides real-time and historical data for bitcoin, ether, litecoin and bitcoin cash.”

Japanese e-commerce giant Rakuten is now allowing users to spend bitcoin and other cryptocurrencies at merchants throughout Japan. Rakuten’s ecommerce service has over 95 million registered users.

Rakuten’s cryptocurrency wallet can now exchange bitcoin, ether and bitcoin cash for the firm’s e-money, Rakuten Cash, to charge its Pay app and Point credit card.”

See Also: OLB Group enables crypto payments for thousands of US merchants

“Cuban, who recently said he bought some Bitcoin through Coinbase years ago and simply didn’t talk about it publicly, has now made clear he sees more exciting potential in Ethereum than Bitcoin. The billionaire “Shark Tank” shark and owner of the Dallas Mavericks says Ethereum smart contracts will spell big trouble for big SaaS (software as a service) companies. Cuban applies the disruption prediction to healthcare as well.

There’d be no Enrons. You wouldn’t have the level of fraud that you have now.

Now all of a sudden you go to the hospital and you know you’re going to be judged fairly, as opposed to the insurance company looking at that drug that you need and saying No.”

See Also: Mark Cuban Says Dallas Mavericks Are ‘Talking About’ Blockchain for NBA Ticketing

“The stock market slumped during the past week due to the rising Treasury yield curve. As the bond market rallied, risk-on assets, such as stocks, saw a pullback. Global risk markets started the week strongly as bond yields eased.

Following last week’s bloodbath, easing in bond yields is big relief.

Although Bitcoin is considered a safe-haven asset and a store of value, it often moves in tandem with the risk-on market. This trend occurs because the market capitalization of Bitcoin is still hovering at around $1 trillion.

Whale clusters from Whalemap also show that $46,000 and $56,000 are the key support and resistance levels in the short term.”

See Also: Institutions and miners accumulating through Bitcoin chop; whales uncertain

The round was joined by a host of cryptocurrency projects that are considering adding zkSync, including Coinbase, Aave, Curve Finance, CoinGecko and Balancer. Gluchowski said numerous cryptocurrency wallets are in various stages of integrating zkSync, including Argent. Crypto exchange partners are likely to integrate the tech directly as well.

[zkSync] relies on pure cryptography rather than game-theoretic mechanisms, and is thus the only scaling approach with no upper bound on the value it can securely handle in L2.”

Tesla’s purchase underpins something even more dramatic than mainstreaming bitcoin as a legitimate cash-replacement for the world’s largest corporate, financial, and government institutions. These sudden influxes in demand, including a handful of recent bond-issuance-fueled purchases by MicroStrategy, are having an extreme impact on the bitcoin price. I believe we’ll see the price of bitcoin above $1 million sooner than most people can fathom.

Let’s say that out of the $100 trillion worth of wealth in each of the following vehicles: real estate, public securities (stocks and bonds), and monetary instruments (government debt, bank deposits, money market funds), bitcoin manages to eke out a meagerly $1 trillion in new demand. Using a 25x multiplier given our estimations from MicroStrategy and Tesla, this would equate to a $25 trillion increase in market value, or $1.3 million per bitcoin.

Bitcoin’s price ascent will surprise most people who haven’t fully grasped the supply inelasticity of bitcoin. No increase in price can lead to a supply response, because bitcoin’s supply is pre-programmed and universally agreed upon. Governments, banks, and companies can issue as many crypto-competitors as they desire, but the bitcoin land grab is gaining the characteristics of the demand for prime real estate in the world’s most beautiful buildings and scenic coastlines, for the rarest art and jewels, and for precious metal itself. It’s demanded as an inflation hedge in Latin America, a path to economic empowerment in Africa, and as a peaceful protest of QE-infinity in the West.

People often think they’re too late to buy bitcoin because it’s already at a price of $50,000. They just haven’t run the latest numbers.

“Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients. The interest payments were comprised of 450 Bitcoin (BTC), 5,000 Ether (ETH) and $6 million in stablecoins.

Clients of BlockFi are able to earn interest on Bitcoin, Ether and stablecoins by depositing their cryptocurrencies into an interest-bearing account. The company has grown in popularity as more users look to earn passive income on their digital assets.”

“The Gateway testnet – the next home for decentralized finance (DeFi) money market Compound – is now live. The Substrate-based blockchain is fully embracing interoperability.

Leshner said Gateway will be able to port assets from one blockchain to another using Gateway specific bridges called “starports.” An Ethereum starport is now active on testnet. He expects the testnet to run for two months before fully launching.”

TA: BTC Longterm Support

“Named “Mary,” the hard fork will allow users to create new tokens that run on Cardano natively. Enabling new tokens is a step on the path to full smart-contract functionality.”