Top stories of the week: Binance to launch an exchange in the UK, the Central Bank of France tested CBDC, and Bitstamp added SHIB to the listing (06.12-10.12.2021)

Fri 10 Dec 2021 ▪ 20h21 ▪ 5 min read — by Mary Anderson

-Binance to launch a UK arm
-Huobi Global exits Chinese market
-Unknown whale buys 100B SHIB coins
-The Central Banks of France and Switzerland run CBDC tests
-Bitstamp exchange addsSHIB to the listing

Read top stories of the previous week to catch up on the news.

Binance to launch a UK arm

Binance, the world’s largest cryptocurrency exchange by trading volume, is now working to restore its business and reputation in the UK. To do this, Binance has hired a couple of hundred employees to solve legal and regulatory issues. Changpeng Zhao said that, in the coming months, the exchange intends to get registered to operate in the UK. 

The UK will support 65 cryptocurrencies denominated in euros and pounds sterling. The deposit and withdrawal of funds will be carried out through the UK’s fast payment services and the Unified Payment Zone.

Huobi Global exits Chinese market

Cryptocurrency exchange Huobi Global announced that by the end of this year, Chinese customers will be denied access to transactions. The company decided to leave China before Beijing once again tightened regulation of the cryptocurrency industry. 

Huobi has stopped registering new users in mainland China and announced that it would delete existing accounts by 31st December.

Unknown whale buys 100B SHIB Coins

It is known that Shiba Inu whales actively use periods of falling prices or micro consolidation to increase their stakes. This week, millions of dollars have been poured into SHIB.

A mystery whale added 99 billion SHIB worth $3,8 million (~£2,9 million) to his portfolio. In addition to the fact that the wallet of this whale is one of the largest holders of Shiba Inu, it also contains BNB, totalling about $500,000 (~£377,000). 

The Central Banks of France and Switzerland run CBDC tests

Project Jura participants tested direct transfers from CBDC to euro and Swiss franc on a single DLT platform. The experiment was conducted using transactions with real value, under current regulatory requirements.

The participants of the experiment concluded that the European financial system needs improved universal payment and settlement mechanisms.

Bitstamp exchange added SHIB to the listing

The large cryptocurrency exchange Bitstamp has expanded the list of available digital assets. Now the platform’s clients can trade SHIB. The exchange took this step due to the growing popularity of Shiba Inu. 

In addition to Shiba Inu, cryptocurrencies such as Perpetual Protocol (PERP), dYdX (DYDX) and Gala (GALA) have been added to Bitstamp. 

Ether and BTC update

BTC started the week with $49,000 and reached $57,076 by the end of the week – read the latest review here

ETH started the week at $4,258 and reached $4,622 by the end of the week – read the latest review here

TOP 4 altcoins of the week

Polygon (MATIC) is trading at $2.1, and its capitalisation is $14.8 billion. During the week, this altcoin rose by 2%.

Terra Luna continues to outperform the rest of the top 10 participants, increasing by 39.4% over seven days. At the time of publication, LUNA is trading at $69.81.

At the beginning of the week, Tezos (XTZ) soared by 40%. At the time of writing, the XTZ rate was about $4.75.

The gainer of the week is IoTeX (IOTX). The asset is still in a profitable zone, offering its holders a 10% yield.

TOP 4 altcoin losers of the week

Polkadot (DOT) becomes the loser of the week with a loss of 25% – $28.25.

BitTorrent (BTT) is in the red zone this week, with a loss of over 12%. 

A loss of 13% is demonstrated by Kadena (KDA).

Immutable X (IMX) becomes a loser with an almost 5% loss. 

What to read on the weekend?

Learn about Smart Contracts.

Read the weekly altcoin digest. 

Find out what Edward Snowden thinks about NFTs.

Read the opinion of the head of ARK Invest Cathie Wood about the future growth of Bitcoin to $500,000.

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Mary Anderson

I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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