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Bitcoin consolidates gains: what could spark a new rally.
Bitcoin is showing positive signs above support at $61,200 against the U.S. dollar.
The bitcoin price remained strong above the $60,000 zone and traded in positive territory. After there was a slight decline, a high near $62,885 was formed. The price fell below the $62,000 and $61,200 levels. However, the price remained supported near the $59,200 level and the 100-hour simple moving average.
This coin is used as a currency to support small businesses.
GSX is actively used in South Africa as a currency in markets to support small businesses
The gold-backed currency is the first asset in a new genre of decentralized assets called growth coins. A growth coin combines most of the best elements of a stable coin, an investment coin, and a traditional cryptocurrency into one secured currency.
GSX is a trust backed by land rights and gold. There will be a steady increase in the amount of mineral-rich land and gold backing GSX. Of the mines and refineries supporting GSX, 50% of the metals mined, after expenses and expansion will be added to the GSX assets, so the value of the assets continues to grow steadily. Currently, the minimum asset value for the first year is $7 billion.
GSX is also a major asset in Knox World Wire, the newest, fastest, and most efficient international system.
The platform has no scalability issues. This is due to database-level segmentation, which ensures that there are enough resources to complete each transaction. Data partitioning allows any trader to execute huge amounts of transactions without fear of running out of space to process.
Moreover, the platform boasts a fast block completion rate of 2 seconds per transaction.
GSX gold backed currency
Ripple CEO comments on prospects for XRP ETF in the US.
Ripple CEO Brad Garlinghouse thinks the SEC is deliberately picking winners and losers.
Ripple CEO Brad Garlinghouse lamented the SEC’s picking winners and losers when asked by Fox Business’ Charles Gasparino about the prospects for launching an XRP exchange-traded fund in the United States.
Consequently, according to the Ripple boss, prioritizing Bitcoin is not in line with SEC Chairman Gary Gensler’s climate agenda. He previously mentioned that XRP is 100,000 times more efficient than the largest cryptocurrency, estimating that just one switch to bitcoin consumes 75 gallons of gasoline.
France includes cryptocurrencies in government bonds.
The Central Bank of France is currently working on a pilot, in which government bonds will include crypto-asset transactions in the debt market.
The digital asset pilot was commissioned back in March by the central bank to test the feasibility of CBDC in the growing popularity of publicly available digital assets. The pilot program used a digital asset issued by the Central Bank of France. A group of companies involved in the pilot project traded government bonds as securities and settled them with cryptocurrencies.
Binance destroys $639 million worth of BNB.
Binance burned a record $639 million worth of BNB, leading to no significant price increase
Leading cryptocurrency exchange Binance announced the completion of its 17th quarterly burnout. The company destroyed more than 1.3 million BNB tokens for a total value of about $639 million. This is Binance’s largest quarterly spend in dollar terms to date.
New York joins crackdown on cryptocurrencies, apparently targeting Nexo and Celsius.
On October 18, the New York Attorney General Letitia James announced cease and desist letters to two cryptocurrency lending firms.
The attorney general’s office redacted the names of the vetted firms. However, the cease and desist document retained the name “Nexo Letter,” while the request for information was labeled “Celsius Letter” when originally published.
African nation Ghana prepares to use its CBDC E-Cedi autonomously.
The West African nation of Ghana is doing its best to continue using the central bank’s e-Cedi digital currency.
According to recent developments, Ghana’s central bank aims to use e-Cedi for offline transactions.
This means that digital currency can facilitate transactions even without the need for electricity and connectivity. Kwame Oppong, who heads financial technology and innovation at Ghana’s financial regulator, said this on Monday, Oct. 18, speaking at the Ghana Economic Forum.
Crypto-friendly remote hiring company Deel is valued at $5.5 billion after Series D.
San Francisco-based remote hiring company Deel is now valued at $5.5 billion.
Coatue, which has invested in technology companies including DoorDash, Instacart, and Spotify, led the round. Altimeter Capital, Andreessen Horowitz, YC Continuity Fund, Spark Capital, Greenbay Ventures, and Neo also participated in the deal.