🗞 Daily Crypto News & Video, January, 2nd💰

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

🗞 Bitcoin Ablaze, Shoots Past $32K for First Time, Hours After Tearing Through $30K

The price of bitcoin (BTC) surged past $32,000 for the first time ever Saturday morning, hours after slicing through $30,000 like a light saber through tissue, a blistering start to the year following a record-setting 2020.

Once the price of the leading cryptocurrency crossed the $30,000.00 mark for the first time, something it had struggled to do for the last couple of days, it exploded upwards like a ball released under water, hitting a new all-time high of $32,965.95, before falling back to $32,511.29, up 11.81% in the last 24 hours.

The performance comes after a year in which the cryptocurrency rose more than 300% in 2020, with an almost 50% gain just in December, sort of like a boulder gaining speed downhill, only in the opposite direction.

For those who prefer dollar figures to percentages: On Nov. 30, bitcoin breeched a nearly three-year-old high of $19,793. By the close of Dec. 31, the cryptocurrency had risen about $10,000. For the visually inclined, see the chart below.

Propelling the record-setting run is a growing narrative that bitcoin represents a form of "digital gold," along with a flood of institutional investors (probably not Buffett) into the cryptocurrency: Among them: Anthony Scaramucci’s Skybridge Capital ($182 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).

🗞 DeFi Quietly Breaks Record as Investors Lock Up $15 Billion

Bitcoin’s price continues to surge—but the DeFi market is also healthy.

Today, the amount of cash locked into the industry broke $15 billion.

The DeFi industry’s growth has slowed since it exploded in the summer.

Bitcoin’s price is on an unstoppable race to keep breaking new records—but it isn’t the only crypto project doing well. Today, the total value locked in the decentralized finance (DeFi) industry hit $15 billion, according to DeFi Pulse stats.

DeFi—which exploded last year—refers to non-custodial financial products (mostly built on Ethereum) that want to revamp services like lending and borrowing. The total value locked in means how much money is staked in their smart contracts.

This time last year, the amount of money locked in to the DeFi industry stood at $689 million. That’s an increase of 2,077%. At one point, a billion dollars a week was being added to the total value locked into the industry last year.

🗞 NFT Art Sales Reached All-Time High of $8.2M in December

The total trading volume of non-fungible token (NFT) artwork hit an all-time high of $8.2 million in December 2020, according to cryptocurrency art analytics platform CryptoArt.io.

With the lights turned off in museums and galleries due to the coronavirus pandemic, sales of physical art plunged in 2020, but sales of NFT-based art have taken off, reaching an all-time high in December, according to CryptoArt.io data.

Token-based art sales hit $8.2 million in December compared to $2.6 million in November 2020.

Richard Chen, the creator of CryptoArt.io, told CoinDesk, "Crypto natives are starting to understand the value NFTs bring to verifying authenticity of the original artwork. Furthermore, big-name digital artists like Beeple are discovering what NFTs are and how they open up a new business model for artists other than commissions."

🗞 What's in Store for Ethereum in 2021?

The second-largest crypto network by market capitalization, Ethereum (ETH), had an eventful 2020 as many other players in the Cryptoverse. But what awaits the network in 2021? The picture looks green price-wise and busy when it comes to new developments, according to industry insiders talking to Cryptonews.com.

ETH went up more than 400% last year, surpassing the USD 700 level for the first time since 2018. Not only was it a beneficial year price-wise, but the network also saw several testnets – some of which were more successful than others - on its road to the much-promised Ethereum 2.0 (ETH 2.0), culminating in the launch of the deposit contract, followed by the first phase of ETH 2.0, Phase 0, in December.

“ETH 2.0 will continue to advance its roadmap, with the introduction of shard chains, and eventually lead up to getting rid of [the proof-of-work consensus algorithm] altogether, and merging the Ethereum 1 chain with Ethereum 2.0,” said Monica Singer, the South African Lead for major Ethereum and blockchain company Consensys. This, she argued, will result in increased throughput and flexibility, as well as new network economics through staking, further leading to higher adoption.

🗞 Daily Crypto Calendar, January, 2nd💰

Time New Bank (TNB)

TNB Bi-weekly Report(From Decmber 19th to January 1st).

Basis Cash (BAC)

"Trading pair: BAC/USDT - Trading time: 17:00 on Jan 2 (UTC+8)"

Quantum Resistant Ledger (QRL)

"Last Month at QRL — December 2020"

DexTools (DEXT)

"... 2nd of January 23:59 UTC, the snapshot will be taken for the next DEXTShare."

SAND (SAND)

"The Sandbox Live Streams Saturday, January 2 - 18:00 - 19:00 GMT"

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