🔴Altcoins Crushing All-Time-Highs | This Week in Crypto – Feb 8, 2021

A special thanks to eToro
for sponsoring this video. Connect with other traders
and copy their moves, check the link in the description
for more information. Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in crypto. Ethereum reached a new
all-time high this week, trading at over $1700. The jump occurred moments
after it was announced that Ethereum-based futures contracts
are set to be introduced next week on the Chicago Mercantile Exchange
(CME).  Dogecoin experienced
a 50 percent surge after Elon Musk, the South African entrepreneur
behind both SpaceX and Tesla, wrote on Twitter that Doge
was “the people’s crypto” and later added,
“No highs, no lows, only Doge.” Dogecoin had already experienced
a mega high last week following heavy interest
from Reddit users.  India—a country known for its up-and-down relationship
with cryptocurrency— has drafted a new bill that if passed, could see the country issuing
a centralized form of digital currency through the Reserve Bank of India.

The bill also calls for a major ban
on privacy-related coins.  Ukraine has announced plans to build
several cryptocurrency mining centers next to its many nuclear facilities. These power plants have produced
excessive amounts of energy over the years, and government regulators believe crypto mining will provide a solid way
of utilizing this excess power and creating additional
sales markets. Nigeria’s Central Bank
has issued a request for all financial institutions
within the nation to shut down any accounts
that delve in or trade cryptocurrencies. The bank has explained
that such activity is illegal without proper regulation in place and that all establishments
that fail to comply will be hit with severe legal action. Jack Dorsey— the bearded bitcoin lover
who runs payment firm Square and social media platform Twitter— uploaded a photo of himself
running a bitcoin node on his personal computer, suggesting that he is now
taking on a new role as a validator of crypto transactions.  Financial payments giant Visa has formed partnerships
with as many 35 monetary institutions over the past several months. The credit card company says it’s looking to help banks
and many other financial firms roll out crypto-buying services
for their customers through a new digital asset
software program which will be available in late 2021.

Crypto investment platform
Yearn.finance became the victim of a cyberattack that saw an unknown actor
wander off with nearly $3 million from one of the company’s
shared digital pools. The attack occurred through Aave, the open-source DeFi protocol, through which the hacker
was able to swiftly drain the pool before Yearn could take
necessary action. That’s what’s happened
this week in crypto. See you next week. If you've enjoyed this video,
leave us a thumbs up and make sure to subscribe
and click the notification bell so you don't miss a review,
news update or the clearest information about Bitcoin
and cryptocurrencies anywhere..

You May Also Like