Bitcoin mining company follows Tesla by setting up shop in Austin
Blockcap cited electric car manufacturer Tesla setting up one of its “Gigafactories” in Austin in announcing the move. Tesla CEO and billionaire Elon Musk recently purchased a home in the Texas state capital for more than $3 million on Lake Austin west of the downtown area, while the firm is breaking ground on the Gigafactory on the east side closer to the Austin-Bergstrom International Airport with Bitcoin. XRP seeing a monster rally, Ethereum could go to $10K in 2021.
Binance Coin (BNB) market cap passes Santander and UBS
To date, Binance Coin has rallied 900%, which makes the token’s $64 billion market cap larger than Santander, the Bank of Montreal and UBS. 2021 has been an impressive year for Binance Coin (BNB), which so far has rallied by more than 900%. One of the primary drivers of BNB’s growth was continued congestion on the Ethereum network.
XRP seeing a monster rally when Ripple is worth just $3B on the secondary market
Ripple is reportedly trading at a $2 to $3 billion valuation but its XRP holdings are worth around $70 billion. The equity of Ripple, the company that builds the infrastructure around XRP — the digital asset used by networks like RippleNet to process cross-border payments — is reportedly trading at $2 to $3 billion in the secondary market.
Ethereum could go to $10K in 2021 and outperform Bitcoin, says veteran trader
According to professional trader Scott Melker, Ethereum’s “tremendous upside potential” could overshadow Bitcoin this year. Ethereum is likely to outperform Bitcoin, at least in the short term, said veteran trader Scott Melker.
Melker sees this period of Bitcoin’s price consolidation as particularly bullish for the second largest cryptocurrency, that recently reached new all time highs.
NFTs, DeFi and Web 3.0 are intertwined
Explosive growth in asset tokenization and NFTs is fueling Web 3.0 growth, and testing DeFi resolve. Asset classes resulting from DeFi protocols and NFTs avail themselves of the advantages of fractional ownership of the assets, blurring the lines between asset classes and using constructs like digital wallets as a receptacle for them. This is all supported by underlying layers of Web 3.0 that provide security.