Crypto Futures Trader Makes $2.6 Million in One Day, Daily Crypto Report 18/12/2020

Price Change Today:

BTC is up 5.77% at $23,010

ETH is up 1.22% at $645

XRP is up 6% at $0.589

Top gainers in the last 24 hours:

LTC is up 17%

DOGE is up 10%

NEM is up 6%

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Top Crypto Headlines 18/12/2020

1. Bitcoin Just “Won the Game” Against Other Assets

The benchmark digital asset’s price has gone parabolic, rallying from recent lows of $17,600 to highs of $23,700. Although it faced rejection at these highs, its outlook is still incredibly bullish and it has recovered most of its overnight losses. One on-chain analyst contends that BTC has now “won the game against other asset classes” and is likely to rally higher as institutions take hold of its price action.

2. One river digital asset management wants to own $1 billion in ETH & BTC by the first half of next year

For bitcoin adoption in 2020, it has been a very successful year. Many big institutions have taken kindly to the leading coin with One River Digital Asset Management being one of the more recent companies to get involved in the industry. Spearheaded by Eric Peters, the chief executive officer, the Business expects to own around $1 billion in Ethereum and bitcoin for the first half of 2021.

3. Crypto Futures Trader Makes $2.6 Million in One Day

With Bitcoin shooting up past $23,000, it’s no surprise that some crypto traders are making a killing. The top-ranked trader on Binance’s Crypto futures platform, named BatThursdayBurn, earned just over $2.6 million in the last 24 hours. Futures are a form of financial derivatives where parties agree to sell/buy an asset at a specific price on a set date. 

4. Uniswap launches on-chain delegation tied to Twitter usernames

Defi protocol Uniswap recently announced the integration of Sybil, a new governance tool for discovering delegation. Sybil maps on-chain addresses to digital identities in order to maintain a list of delegates without the need for user signups, on-chain transactions, and manual record keeping. Sybil is solely integrated with Twitter.

5. P2P Bitcoin Marketplace Startup Paxos Raises $142 Million in Series C Led By PayPal

Paxos, a New York-regulated financial institution offering a peer-to-peer bitcoin marketplace announced in the crypto futures they have raised $142 million in a Series C funding round. The latest funding round also made Paxos one of the top-funded blockchain companies that have raised $240 million in total funding. The year could not have ended any better for Paxos who plans to utilize the funds for expansion. 

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