Web3 Diaries-BTC Enters ‘Bull Market’: Analysts
Analysts are beginning to turn positive in their view on Bitcoin (BTC) future price prospect.
Bitcoin briefly surged above $28,000 during Thursday U.S. morning hours, then dropped to as low as $27,300 as traders took the opportunity to sell the rally.
The largest cryptocurrency by market capitalization was changing hands at $27,500 recently, flat over the past 24 hours, but still outperforming the wider crypto market.
John Glover, chief investment officer of Ledn, in an email response to CoinDesk said, “In the near term, I expect the market to sell into this rally”. He added that the absence of new capital flowing into digital assets, could result in such rally staying short-lived.
Burnt Announces Mainnet Launch With USDC Native Currency Support
Burnt, a layer-2 scaling solution backed by Animoca and Multicoin, has announced the public launch of its testnet for XION, the first layer-1 blockchain built for consumer adoption.
According to a message from the team: “The Company also announces a prior strategic investment from Circle Ventures, the venture capital arm of Circle, a global financial technology firm and issuer of USDC.
XION will be the first blockchain to use USDC, a fully-reserved digital dollar, as its primary transactional currency. All products built on XION will display prices in USDC, eliminating one of the key technical barriers. In addition to this, all transactions on XION are gasless.”
Swan Unveils ‘Collaborative Custody’ Service
Bitcoin financial services firm Swan is introducing a “collaborative custody” service using Blockstream’s hardware wallet Jade.
The Swan and Blockstream tie-up will enable users to retain ultimate control of their bitcoin (BTC) while knowing that it is stored in a secure way offline, the two firms announced Thursday.
Collaborative custody, in this instance, refers to a multi-signature wallet scheme combined with third-party assistance for things like backup and transfer, thereby enhancing the user experience of bitcoin storage, the firms said.
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