Gate.io Weekly Newsletter: Gate.io launches Global Recruitment Program, Iran to Build National Cryptocurrency, Walmart Secretly Testing Bitcoin ATMs

2021-10-22 11:36

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The cryptocurrency market has seen a bullish week, greatly stimulated by the approval of the BTC futures ETF in the US listing. Bitcoin prices have reached over $66,000, setting a new all-time high. At the same time, the market's greed index also reached a climax this week.

Cryptocurrency Market

The crypto coin market has seen a bullish week, greatly stimulated by the approval of the BTC futures ETF in the US listing. Bitcoin prices have reached over $66,000, setting a new all-time high. At the same time, the market's greed index also reached a climax this week.

From the 17th to the 20th, the Bitcoin price made 4 consecutive positive moves on a daily level and has seen a steady increase in price rather than a spike. There was no significant change in the level of bitcoin spot price volatility and the price indicates a positive outlook.

On the technical aspect, the BTC is moving close to the 20-day Bollinger upper-band and the price is showing steady volatility. Two key indicators in the MACD indicator are pulling in distance but not forming a dead cross, which indicates that there are no obvious selling points in the market.

For now, the bitcoin spot price remains in a stable upward channel. However, similar to last week, the cryptocurrency market continues to be dominated by a few mainstream coins, with other smaller coins not gaining enough traction for a clear bull run.

Interestingly, tokens of CeFi Exchanges swept away the gloom of the previous weeks and came out with an above-average uptrend.

Crypto News

AMC to Accept DOGE Q1 2022

AMC CEO Adam Aron announced on CNBC that the multinational move theatre chain will begin accepting dogecoin payments as soon as Q1 2022.

Aron reiterated that AMC will enable support for bitcoin, Ethereum, and Litecoin by the end of Q4 2021.

AP to launch Official Chainlink node to help with dApps Innovation

The Associated Press, one of the largest news organizations, is launching an official Chainlink node to bring high-quality economic data, sports outcomes, and business financials onto blockchains to support dApps innovation.

Polkadot unveils $770M development fund ahead of parachain auctions

Polkadot founder Gavin Wood tweeted on Sunday that Polkadot’s treasury has allocated more than 18.9 million DOT tokens (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance.

Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized to anything that the Polkadot Governance is committed to building, improving, and educating the Polkadot’s ecosystem.

News in the Financial Market

SEC Approved VanEck bitcoin ETF

The Bitcoin Futures ETF launched by management company VanEck has been approved by the SEC, which has given the company permission to launch the fund after Oct. 23, with trading set to begin as soon as possible as soon as next week. The ETF is the second Bitcoin Futures ETF approved for listing by the SEC, following the bitcoin ETF launched by ProShares.

Tech billionaire Peter Thiel says he missed out in bitcoin

At an evening event in Miami, Thiel reportedly joked that "you're supposed to just buy bitcoin" just hours after bitcoin hit a new record price, before adding "I feel like I've been underinvested in it."

He went on to say that his only hesitation when it comes to investing in bitcoin was that he thought "the secret was already known by everybody."

Walmart Secretly Begun Spreading bitcoin ATMs

The retail giant is offering bitcoin through 200 of its Coinstar kiosks in a tie-up with crypto ATM firm Coinme.

A source with knowledge of the pilot said the Litecoin debacle had put Walmart off from issuing a press release, as reported by Coindesk.

Global Headlines

Iran Preps Pilot for Sovereign Digital Currency

The Central Bank of Iran is preparing to start the pilot phase of its digital currency project, with the Governor of CBI Ali Salehabadi reported saying that the Iranian cryptocurrency will be circulated by the CBI, rather than a decentralized cryptocurrency ecosystem that can be used for small cashless transactions. The project will commence as soon as an approval, from the Monetary and Credit Commission, has been given.

Salvadorans are Converting More Dollars to bitcoin

Salvadoran President Nayib Bukele shared the development on Twitter, based on data obtained from Chivo, El Salvador's internal wallet service. President Bukele stated, "People are putting in far more dollars [to buy BTC] than they are taking from Chivo ATMs."

He also urged the media to visit the ATMs and independently confirm the above information.

Brazilians Are Buying Millions Worth of Cryptocurrencies Every Month

The Central Bank of Brazil released a report that shows Brazilians have purchased more than $4 billion in cryptocurrency imports since the start of the year.

Bruno Serra, the director of monetary policy of the Central Bank of Brazil, stated that cryptocurrency investments of Brazilians abroad could potentially triple the amount invested in American shares. However, Brazil is incapable of producing cryptocurrencies currently. In this sense, Serra stressed:

Serra added, “It’s a one-way flow. Due to the cost of energy, Brazil is only an importer of cryptocurrencies.”

Gate.io Weekly Blogs:

Futures-Backed Bitcoin ETF - A Big Driver of BTC Hitting $60,000

Updates On Upcoming Polkadot Slot Auction | Key Information Not To Be Missed

Introduction to MFI and Its Practical Use in Quantitative Trading

Author: Byron.B & Charles. F (Gate.io Researchers)
* The article only represents the researcher’s views and does not constitute any investment advice.
* Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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