🗞 Daily Crypto News & Video, December, 26th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

Merry Christmas to you all! No time for a Daily Video. See you next Monday !

🗞 Bitcoin Hits $25K for First Time Ever

The price of bitcoin (BTC) topped $25,000 for the first time ever, a mere week after breaking $24,000 for the first time.

The price of the leading cryptocurrency continued its recent torrid run, setting a new all-time high of $25,005.53 before falling back to $24,971.23, up 6.28% on the day. Year-to-date BTC is up more than 240%.

Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).

🗞 Major DeFi Exchange Gifts Users Millions in Free Crypto on Christmas Day

1Inch gave early adopters free crypto on Xmas day.

It gave away 1Inch, its new governance token.

One lucky trader received $27 million—though the tokens have since fallen in value.

Spend the entire year giving and you might get a lil’ something in return on Christmas Day.

That hope rang true for early adopters of decentralized exchange aggregator 1inch, whom 1inch this Christmas gifted tens of millions in free cryptocurrency. One lucky trader got $27 million in their stocking.

The top claimer received 9.7 million tokens, worth $27 million at the peak value of the token. This is because they were a power user on 1inch; the exchange rewarded them proportionately. The price of 1inch increased to highs of $2.6 shortly after its launch (before crashing 33% in the past 24 hours to $1.73).

The token is similar to others minted by decentralized finance protocols: a so-called “governance token,” just like Uniswap’s $UNI, Compound’s $COMP or Aave’s $LEND, which HODLers can use to vote on proposals to tweak the network.

🗞 The Ethereum 2.0 factor: Changing the way DeFi projects operate

The end of 2020 has been huge for the crypto community. Not only was there a spectacular price surge across digital assets, possibly signaling the beginning of another bull market, but there was also the launch of Ethereum 2.0 beacon chain, which has been in development for some time.

The long-awaited update to the Ethereum blockchain transforms the network from a proof-of-work to a proof-of-stake consensus model and is intended to improve speed, security, lower transaction fees and fix the scalability issues that have been holding Ethereum back throughout 2020.

“Most people misunderstand Eth2 and what it means for the industry as a whole, especially DeFi. While other chains are competing to solve some scaling issues on Ethereum, I think the network effects are quite profound and Ethereum is leaps and bounds above the others. If anything, the onset of 2.0 gives people confidence in Ethereum's staying power.”

Booming DeFi

The launch of Ethereum 2.0 caused significant price volatility. The price peaked at around $670 right after the launch on December 1, only to suffer a slight correction over the following days, in tune with the rest of the altcoins. But the hype was most felt in DeFi, as ETH 2.0 was a crucial element driving the growth of total value locked in the projects and, according to Octavius, this trend is likely to continue: “The effects are likely going to accelerate participation in DeFi markets as the DeFi builders will be able to improve their products by an order of magnitude.”

“It may become important when rival blockchains really start activating. With Polkadot and NEAR becoming more active, good news regarding Ethereum 2.0 may help keep projects anchored to the Ethereum ecosystem.”

🗞 Bitstamp to Halt XRP Trading, Deposits in US Due to SEC Lawsuit

Cryptocurrency exchange Bitstamp said it’s halting XRP trading and deposits for all U.S. customers on Jan. 8, 2021, because of the U.S. Securities and Exchange Commission’s recent filing, alleging XRP is a security.

U.S. customers will be able to withdraw their XRP even after trading is halted, Bitstamp said.

Other countries are not affected, Bitstamp said.

Bitstamp is the first major cryptocurrency exchange to take action on XRP (-14.58%) in response to the SEC's lawsuit against Ripple Labs.

🗞 Daily Crypto Calendar, December, 26th💰

LGCY Network (LGCY)

Lock LGCY or USDL and receive USDL at up to 48% APY. Lockup starts on Dec 23. Registration ends on Dec 30.

GreenPower (GRN)

"GRN Swap Period started: September 26th | GRN Swap Period ends: December 26th."

BitTorrent (BTT)

"DLive Protocol is coming out next week!"

Newscrypto Coin (NWC)

Wallet will allow users to store, send and receive NWC tokens. Monitor your portfolio on the go! Staking option will be added in the future.

Linear (LINA)

"New listing @LinearFinance"

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