Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $24,429 | Bitcoin price made another attempt at breaking recent highs overnight, briefly breaking $25,000 once again before falling to the mid $24,000s. | Top-20 altcoins are mostly down over the last 24 hours, as Ether falls 2%, BNB drops 1% and Polygon is the biggest loser with a 5% fall. | Top Stories for February 21, 2022 🔥 | | Stablecoin issuer Paxos is in discussions with the US Securities and Exchange Commission (SEC) after receiving a Wells notice about the Binance USD stablecoin. | Paxos says it disagrees with the SEC's categorization of BUSD as a security and may defend its position in litigation if necessary. On the other hand, the company has decided to end its relationship with Binance, citing a shift in its strategic priorities. | Paxos will continue to support BUSD through February 2024. | | Polygon Labs, the company behind the Ethereum scaling platform, has cut around 100 jobs or 20% of its workforce. The company cited the consolidation of multiple business units as the reason for the cuts, which affect employees in the US, Canada and India. | The job cuts come at a time when the crypto industry is still recovering from the impact of the FTX implosion and subsequent downturn. Polygon co-founder Sandeep Nailwal said the company's treasury remains healthy, with a balance of more than $250 million. | | Analytics platform CryptoQuant has warned that despite some positive on-chain metrics, Bitcoin still lacks the on-chain volume and active address increases that characterize bull markets. | CryptoQuant expressed its concern that 2023 had not seen a similar trend of increasing active addresses, which are key to gauging market demand, compared to when the market bounced back from the 2018 bear market and the March 2020 COVID-19 cross-market crash. | Other analytics firms have also concluded that on-chain volume remains low, with both long-term and short-term Bitcoin holders reluctant to spend, despite a return to $25,000. | | Milk Road covers Hong Kong letting retail investors back in the game, hackers phishing people going to a major crypto conference, crypto funds sold more crypto than they bought this week and a blockbuster NFT trade. |
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