Hey, did you hear about what Binance is doing? They’re allowing institutional investors to keep their collateral off the exchange. This is a big step in addressing security concerns for centralized exchanges and could bring more institutional investors into the crypto space.
Also, the mining difficulty for Bitcoin hit a new all-time high even though the price of Bitcoin is rallying. This shows that there’s still a lot of interest in mining the cryptocurrency.
Oh and another thing, crypto market just reclaimed 1 trillion dollars! The market has been on a steady upward trend with both Bitcoin and Ethereum seeing big gains. It’s looking like the bull market is back…maybe…
Let’s take a look at all of this in today’s Coin Logic Daily News Flash!
Binance’s Move to Allow Institutional Investors to Keep Collateral Off the Exchange
According to a report from Bloomberg, Binance, one of the world’s largest cryptocurrency exchanges, will soon allow institutional investors to keep their collateral off the exchange. This move is a significant step towards addressing concerns about the security of funds held on centralized exchanges.
This move could also encourage more institutional investors to enter the crypto space as it addresses one of the major concerns for them, the security of their funds. It also follows the move of Chicago Mercantile Exchange (CME) to allow its clients to hold bitcoin in their own wallets, rather than with the exchange. This shift towards decentralized storage of assets is a positive development for the industry and could help to increase trust in the crypto space.
Bitcoin Mining Difficulty Hits New Peak Despite BTC’s New Era Shine
Despite the recent rally in the price of bitcoin, the mining difficulty of the cryptocurrency has hit a new all-time high. This is a clear indication that the interest in bitcoin mining remains strong and that the network is continuing to grow. The current mining difficulty is a measure of how difficult it is to find a new block on the bitcoin network.
The higher the difficulty, the more powerful the mining equipment required to solve the complex mathematical problems necessary to validate transactions on the network. The increase in mining difficulty is also a sign of the health of the network as it indicates that more miners are joining the network, leading to more competition for solving blocks and hence adding more security to the network.
Crypto Market Reclaims 1 Trillion Dollars
The crypto market has been on a steady upward trend with both Bitcoin and Ethereum seeing big gains. This has led to the crypto market reclaiming the 1 trillion dollar mark which was last seen in January 2018. This rally is being attributed to the increasing institutional interest in the crypto space and the growing mainstream acceptance of cryptocurrencies as a viable investment option.
The recent developments in the crypto space like Central Banks exploring the possibility of issuing their own digital currencies and PayPal announcing that it will allow its customers to buy, hold and sell cryptocurrencies have also contributed to the market’s rally.
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