At the time of press, Bitcoin is trading close to $56,101 while Ethereum is trading close to $1,993.
Meanwhile, Bitcoin’s market cap surpassed $1 trillion for the first time, which amounted to over 900% growth in less than one year. In March 2020, Bitcoin crashed below $4,000 due to the coronavirus pandemic threat, and its market cap was hovering below $100 billion. However, Grayscale’s aggressive accumulation as well as MicroStrategy’s and Tesla’s investment in Bitcoin helped fuel its price to a new all-time high territory.
Let’s find out some interesting crypto news for today.
Animoca Brands partnered with Polygon (previously Matic Network) to bridge the REVV Token to the Polygon chain. Moreover, Animoca Brands leads the realm of digital gaming and artificial intelligence space. REVV is the ERC-20 utility token created by Animoca Brands for branded motorsports blockchain games. Animoca will deploy the REVV-based blockchain product, F1 Delta Time, on Polygon. Additionally, this deployment will help players to do fast transactions efficiently with lower transaction fees. The team also has plans to launch a bridge for REVV NFTs between Polygon and Ethereum which results in Polygon Network-minted NFTS that can be sold on Ethereum.
Harmony partnered with Reef Finance for DeFi expansion and mass adoption. As per the tweet, Reef users can now access DeFi applications on the Harmony ecosystem through its platform directly. Additionally, users can also utilize Reef’s smart liquidity aggregator and AI-powered yield engine suggestions in the Harmony DeFi ecosystem. Collaboratively, the team will also expand the adoption of decentralized finance and make it available for non-crypto natives.
Danal Fintech integrated Chainlink to support Bitcoin retail payments for merchants. Moreover, Danal Fintech is one of the largest payment gateways in South Korea with over 60,000 merchants. Besides this, Danal initiated a blockchain-based virtual asset payment service named Paycoin. In order to convert Bitcoin to PCI (Paycoin’s digital currency), the Paycoin Wallet will use Chainlink oracles’ transparent and real-time market prices. Additionally, the team also has plans to include other crypto assets, such as Ethereum (ETH), ICON (ICX), and more. Furthermore, additional crypto investment products will also launch in the near future which use Chainlink Price Feeds to provide a valuation to these investment products.
Aave partnered with Hex Trust to entice institutional interest in DeFi. Moreover, Hex Trust is a bond that joins the traditional financial world to the digital assets ecosystem. This collaboration helps Hex Trust to integrate Aave, stkAAVE, and aTokens into Hex Safe, which is an institutional-grade custody platform. Additionally, Hex Trust provides the facility to hold the tokens in its highly secure platform. Furthermore, Aave Protocol integrating into Hex Trust facilitates institutional clients the ability to lend and borrow a variety of digital assets directly from Hex Safe.
In the last bit of crypto news for February 19, the coin of the day is Binance Coin (BNB), which exploded over 60% in the past 24 hours. At the time of publicaion, BNB was trading close to $294.59. Before that, it surged from $48.55 to a high of $317.61 since the start of this month. Moreover, recent developments and the launch of new projects on Binance Smart Chain fueled its market cap to a new all-time high of over $47 billion. In addition, this price surge boosted BNB Coin to flip Tether’s market cap and hit a historical milestone to become the third-largest cryptocurrency by market capitalization after Bitcoin and Ethereum.
As per technicals, if BNB stays above $300, then its next target is $345. However, RSI is at 94, which is an overbought zone, and if BNB is unable to sustain current support, then it can further drop to $260 and $206 levels.
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