Bankless ROLLUP: 4th Week of December
Dec 25, 2020
Dive into the latest buzz in the crypto world, featuring Bitcoin's impressive price surge and dominance, buoyed by institutional interest from MicroStrategy. Ethereum's DeFi growth also takes center stage, showcasing exciting developments. Listen in on Ripple's ongoing legal battles with the SEC, raising ethical questions, as well as security concerns following mishaps within the crypto community. The discussions span innovations in decentralized finance, the cultural fusion of digital art, and the evolving landscape shaped by financial stimuli.
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Bitcoin Dominance
- Bitcoin dominance is approaching 70%, meaning its value represents 70% of the total crypto market cap.
- This raises questions about whether 2021 will be Bitcoin-dominated or if a reversal will occur.
MicroStrategy's Bitcoin Purchase
- MicroStrategy successfully purchased $650 million worth of Bitcoin following a bond offering.
- The purchase, spread over time, didn't significantly impact Bitcoin's price, demonstrating its liquidity.
Tokenized Bitcoin on Ethereum
- DeFi Pulse's "Bitcoin at Work" chart reveals $3.3 billion worth of Bitcoin (142,000 BTC) tokenized on Ethereum.
- WBTC, a custodial solution, dominates with 80% of the tokenized Bitcoin market.