Global cryptocurrency market cap hits $1 trillion, Chaos on Capitol Hill Pushes Bitcoin Even Further

Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.

Weekly Market Summary

According to CoinGecko’s data, the global market cap for all cryptocurrencies is at $1.02 trillion at the time of writing. Bitcoin remains a market leader with the $676 billion market cap, second place is occupied by Ethereum with the $136 billion market cap. Tether, XRP, and Litecoin follow. 

The last time the total market capitalization came close to $1 trillion was in January 2018 when it reached nearly $800 billion. This is the first time it has surpassed the $1 trillion mark.

It was an odd day for Bitcoin to break new records. Georgia turned blue on Wednesday, giving Democrats control of the Senate majority and giving President-elect Biden a chance to let his new policies off the leash.

Hours later, as the Senate was about to confirm the election results in Washington, DC, an angry mob rushed in to disrupt the process.

While both events were happening, Bitcoin’s momentum picked up quickly. As news broke of the Capitol building being stormed around 7 pm GMT on Wednesday, Bitcoin’s price jumped from $34,493 to $36,095 within an hour and kept climbing. 

Ethereum’s price had a similar sharp uptick during that critical hour lifting the whole market to the $1 trillion mark for the first time in its history. Coincidence? Not exactly. What happens in US politics has a profound effect on cryptocurrency prices. 

Quick weekly news:

• Ethereum Enters Top 100 of World’s Largest Assets: Read more here.

• First Mover: Bitcoin Hits Record as ‘Blue Wave’ and ‘Kimchi Premium’ Look Bullish: Read more here.

• Blockchain.com follows other exchanges in delisting XRP: Read more here.

• Italian Banking Association launches experimental digital euro project: Read more here.

Other notable events include:

– A ban on crypto derivatives trading went into effect today in the UK 

– In Brazil, the battle for control of the growing cryptocurrency retail sector began.

State action

A ban on crypto derivatives trading went into effect today in the UK. When introducing the legislation in October, the nation’s financial regulator, the Financial Conduct Authority (FCA), said these products were ill-suited for retail consumers due to their outsized risks. Industry voices think the measure is overwrought and favors institutional investors.

Brazil’s market

The battle to control Brazil’s growing crypto retail sector is heated with Argentina’s Ripio acquiring BitcoinTrade, the second-biggest crypto exchange in South America’s largest economy. Last month, Mexico City-based crypto exchange Bitso raised $62 million in a funding round.

Here are the hottest exchange listings of the last week: 

New Listing on Binance:

– Celo (CELO/BTC CELO/USDT) +100% after listing🚀

New Pairs on Binance:

– OG/USDT ASR/BTC ATM/USDT ASR/USDT OG/BTC ATM/BTC

New Listing on Huobi:

– Matic Network (MATIC/BTC MATIC/ETH MATIC/USDT)

New Listing on FTX:
– Reserve Rights (RSR/USD RSR-PERP)

New Pairs on FTX:

– NFC-SB-2021 AFCWIN-SB-2021/USD NFCWIN-SB-2021/USD

– XMR-PERP

– CEL/USD

– FTT-PERP

– GBTC-0326 BITW-0326 ETHE/USD BITW/USD ETHE-0326 GBTC/USD

– HOLY-PERP SECO-PERP SECO/USD HOLY/USD

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in the app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance or your exchange of choice.

 

TRON is a blockchain-based operating system that can be used to create decentralized applications and share media content. The TRX token itself is used to gain access to certain functions of the operating software. The main purpose of the token is therefore to be used on the TRON network.

All data on the blockchain is free and not controlled by a central authority. Content creators can receive digital assets, in this case a TRX token or other TRX backed tokens, as a reward for their content.

TRX can not be mined, instead, you can get tokens by “betting” your existing tokens to validate other transactions. By assisting in the verification of transactions, validators receive a fee for the creation of tokens or for transactions.

😋Recent announcements:

TRON price prediction 2021 and beyond: when will TRX hit $1?

The Advantages and Disadvantages of Tron Coin

🔥DYOR:
– Website

– Twitter

 

We have prepared for you the top-performing coins of Jan 7. 

Nano has managed to become the best performing asset from TOP-100, gaining 154.50% within the last 24 hours.

Celo Gold was the worst-performing asset from TOP-100, losing 6.41% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter. 

 

Top cryptomeme of the week

Sometimes it’s not easy😅🤷‍♂️

 

We hope you found this digest useful and informative. If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!