The Fintech Flash ⚡️ Episode 10

in Threespeak3 years ago

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Hello Hive Fam!

I'm back with another Fintech Flash, where I go over the biggest news happening in Fintech and blockchain over the last week. My apologies for posting this one so late! With so much going on the last few days - it just occurred to me that i hadn't shared the latest one here on Hive yet!

Here's what was covered in Episode 10!


Bitcoin's price booms to $13.5k, which is the highest level we’ve seen since June 2019. Bitcoin's price has thus more than tripled since that fateful day in the middle of March, when it momentarily crashed to just below $4,000 amid the market uncertainty caused by the coronavirus pandemic.

Ethereum is set to become the first blockchain to settle 1 trillion dollars in a single year. The third-quarter DeFi boom has resulted in the Ethereum network processing more than twice the daily transaction volume of Bitcoin. If the current trend continues, Ethereum could become the first public blockchain to settle $1 trillion in transfers over a calendar year.

Chinese billionaire and Alibaba Founder Jack Ma stated that digital currencies could play a role in a new global financial system. As one would expect, the crypto community was quick to speculate if Ma was referring to decentralized cryptocurrencies like Bitcoin, or centralized digital currencies like the Chinese digital Yuan.

JPMorgan tells investors that Bitcoin is the next big thing. In a recent note to investors, they stated that the potential long-term upside for Bitcoin is considerable as millennials become a more important component of investors’ universe over time. The bank also stated that cryptocurrencies derive value not only because they serve as stores of wealth but also due to their utility as means of payment.

Protests in Nigeria show crypto adoption is accelerating. Nigerian millennials in the past few weeks have taken to the streets in unprecedented numbers, protesting against the abuse by law enforcement officers. Within days the coalition’s bank accounts were frozen and the coalition asked donors to divert their funds to bitcoin wallets. Nigeria’s predominantly young population, its status as a regional tech hub, and an inflationary local currency, have been driving crypto adoption and innovation in Africa’s most populated country.

Exchange rate figures show that at this week’s highs, Bitcoin was worth more in seven currencies than ever before. These countries are Brazil, Turkey, Argentina, Sudan, Angola, Venezuela, and Zambia. Soon to join that list are Russia and Colombia. The extent of Bitcoin’s growth has led to announcements that it has left behind its correlation to traditional macro assets.


Hope you enjoyed it and i'll be back next week for another Fintech ⚡️Flash!

XO, Lea

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