Top 5 Crypto News: 02/06

At the time of press, Bitcoin got within a couple thousand of reaching its all-time high price and is now trading at $39,228. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading at $1,683.

Let’s find out some exciting crypto news for today.

Elrond | ChainGuardians Partnership To Explore Gamified NFT DeFi Opportunities

Elrond collaborated with ChainGuardians, an NFT-based meta-gaming platform. According to the tweet, ChainGuardians allows NFTs from other games to be used on its platform and, vice versa, allows its NFTs to be used on other platforms. Additionally, they will work together to explore innovations in the area of smart accounts, smart contracts, and ESDT and NFT tokens.

VIDT Released Its Roadmap With Plans To Expand New Innovative Dimensions

VIDT Datalink released its roadmap for the year 2021 and announced their most important plans for this year. As per the official blog, the team is working on projects such as the digital land registry with the Afghan government. Furthermore, VIDT collaborated with Amsterdam Vintage Watches to record authenticity of a 1956 Rolex Milgauss on the blockchain. In addition, the team is also involved in other innovative projects as well.

Velox Teamed up With Avalanche To Elevate Decentralized Trading

Velox partnered with Avalanche to launch its algorithmic trading system for decentralized exchanges. As per the tweet, this collaboration helps users to focus on stress-free algorithmic trading. Interestingly, users can allow Velox to trade on their behalf and its service fees are only charged when a transaction successfully completes.

Protego Trust Bank N.A. Receives Conditional Approval From OCC To Custody Digital Assets

Protego Trust Bank has announced it has received conditional approval from the Office of the Comptroller of the Currency. According to a press release, clients of Protego will now be able to lend, hold, trade, and issue digital assets. Protego will provide great benefits to institutions that want to save their assets in a federally regulated bank. Additionally, it will also connect existing financial services and market structure technology platforms globally into the digital future.

Ethereum Price Surged Over 20% in Last Seven Days and Its Network Fees Record All-Time High

At the time of writing, Ethereum was trading close to $1,680, which is around a 21% price surge in the last 7 days. Before that, it surged from $1,285 to a high of $1,749.88 in the month of February. According to the technical analysis, bulls are in control, and if it sustains the support of $1,675, then the next target on the upside is $2,000. However, this positive view will invalidate if Ether breaks below the 20-day EMA ($1,410), and this may lead to a deeper correction towards the $1,100 range.

Furthermore, as Ethereum enters into a new all-time high territory, its network fees also soar. Additionally, the gas fees on the Ether network was so high this week that some exchanges were forced to pause ETH withdrawals. According to YCharts, the average ETH fee was $25.93. Despite this, asset management giants such as Grayscale are buying every dip in Ethereum price for its Ether Trust.


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