Crypto Daily News from ZBG Exchange

1. Market Wrap: Bitcoin Hits $40K Again While Ether Volume Is Erupting This Year

After closing out last week at over $40,000 on Sunday, bitcoin hit that price again Thursday while traders are pushing ether volumes to new liquidity levels.

Bitcoin (BTC) trading around $39,318 as of 21:00 UTC (4 p.m. ET). Gaining 8.5% over the previous 24 hours.

Bitcoin’s 24-hour range: $36,125-$40,066

BTC above the 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians.

2. Some Asian Traders Are Using Polkadot to Predict Bitcoin’s Future

As prices for bitcoin and other cryptocurrencies continue to surge this year, many traders are looking for any indicator for when — or if — the bull market will come to an end. Some are convinced they have the answer: They are examining polkadot (DOT), the native token of the Polkadot blockchain, as a potential canary in the coal mine for cryptocurrency.

As of press time, polkadot’s price was at $12.49, up 12.40% in the past 24 hours, according to Messari. It reached its all-time high of $13.22 during early trading hours in the U.S., just six days after bitcoin’s price reached a new all-time high.

3. Bitcoin Miners Aren’t Responsible for Recent Price Dips, Data Shows

“Miners are selling” is a popular trope used to explain bitcoin’s occasional downward price action. But on-chain data doesn’t support this narrative, according to analysts and mining pools themselves.

After bitcoin’s correction earlier this week to the tune of nearly 30%, miners were a popular scapegoat. But miners have been extremely consistent in their selling habits for months, according to network data collected by Glassnode and analyzed by CoinDesk.

For the past six months, weekly bitcoin (BTC, +5.78%) flows from mining wallets to exchanges have been steady despite the cryptocurrency’s more than 330% gains over the same period. The only anomalous activity seen among mining wallets happened well before bitcoin’s correction.

Since July 2020, miners have sent an average of 2,100 coins per week to exchanges, per CoinDesk Research. Miners are currently on track to finish another extremely average week with only 1,200 coins transferred so far from their wallets for cryptocurrency exchanges.

4. FinCEN Extends Comment Period for Controversial Crypto Wallet Rule

The Financial Crimes Enforcement Network (FinCEN) said Thursday it would reopen its proposed rulemaking period for an additional 15 days for its reporting requirements, and another 45 days for a requirement on recordkeeping and counterparty reporting requirements.

First submitted Dec. 18, the proposals would require exchanges to store name and address information for customers transferring over $3,000 in crypto per day to private crypto wallets, and file currency transaction reports (CTRs) for customers transacting in over $10,000 per day.

Critics of the rule said it would be technically impossible for some projects to comply because smart contracts and author-decentralized tools do not have name or address information to provide.

5. Coinbase Wants to List Your Crypto Asset

In a move that could rapidly broaden the number of cryptocurrencies listed, Coinbase announced Thursday a new issuance portal called Asset Hub.

“Today, Coinbase supports trading for over 40 crypto assets on our exchange and Coinbase Custody supports over 90 crypto assets,” the firm’s chief product officer, Surojit Chatterjee, wrote in a blog post. “Our directive is to list every compliant asset possible. Streamlining the listing process is step one.”

Any asset issuer can apply, Coinbase said. Applicants then go through the process and either get approved or denied.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

ZBG Official English (Telegram): https://t.me/ZBG_Exchange

ZBG Official Chinese(Telegram): https://t.me/ZBG_ChineseOfficial

ZBG Official Bangladesh (Telegram): https://t.me/zbgbangladesh

Twitter:https://twitter.com/ZBG_Exchange

ZBG, World’s top 10 crypto currency exchange.

Link to future value!

ZBG Team

January 15, 2021

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Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens

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ZBG

ZBG

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens

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