Top Cryptocurrency News on October 21: Electric car manufacturer holds $218 million worth of Bitcoin,… – Moneycontrol

Top Cryptocurrency News on October 21: Electric car manufacturer holds $218 million worth of Bitcoin,… – Moneycontrol

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October 25, 2022 by Coinvasity
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Last Updated : October 21, 2022 / 08:04 AM IST
Top Cryptocurrency News on October 21: Electric car manufacturer holds $218 million worth of Bitcoin, Binance delegates 13M tokens to Uniswap DAO and more
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and Tether to help jump-start the day

Market Buzz
Major cryptos flat even as new report shows crypto adoption higher than last year

The price of Bitcoin (BTC) stuttered around the $19,100 mark on Thursday as most investors remained reluctant to take big trades in the market. Ether too traded flat and hovered around the 1290 mark, even as a Chainalysis report found that despite a significant slowdown since the start of the bear market this year, cryptocurrency usage is still higher than it was in 2021. The prolonged downturn in cryptocurrency prices is probably caused by worries about the United States Federal Reserve’s failure to contain inflation. Patrick Harker, president of the Philadelphia Federal Reserve, said on October 20 that increased interest rates had not been successful in reducing inflation and that “we are going to be hiking rates for a while.”

Big Story
Binance becomes the second largest vote holder in Uniswap DAO
The largest cryptocurrency trading exchange by volume, Binance, has become the second-largest voting member of the decentralized exchange Uniswap DAO after it delegated 13 million tokens from its own book. According to the on-chain list of delegates, Binance is second only to venture capital company Andreessen Horowitz, or a16z, with 5.9% of the voting power. Approximately 1.3% of the total supply of UNI is represented by the tokens that Binance has delegated. Continue reading.

Crypto Buzz
Tether To Be Made Available in Over 24,000 ATMs Across Brazil Starting November 3
Tether, a stablecoin provider, revealed on Thursday that beginning on November 3, more than 24,000 ATMs around Brazil would begin accepting USDT tokens through the Brazilian crypto services company SmartPay. According to a poll by the Instituto Locomotiva done in January 2021, there are still 34 million people in Brazil who do not have a bank account or do not use one often. Adding USDT to Smartpay’s products, according to Tether, will provide millions of people access to the ecosystem of digital currencies and the impending financial revolution. Details here.

Crypto Big Bull
Elon Musk’s Tesla holds $218M in Bitcoin

Electric car maker Tesla disclosed documents before its third-quarter investor relations call, showing that its Bitcoin holdings have not changed since the second quarter of 2022. Tesla says it still has $218 million in Bitcoin in its report that was made public on Wednesday. Tesla reported in July that it has sold $75% of its holdings in Bitcoin, which were worth $936 million at the time. Following the sale, Tesla revealed that as of the end of June, it still had $222 million in “digital assets” on its financial sheet. Read more.

Crypto Poll
Over 77% of El Salvadorians do not want their government to buy more Bitcoin
According to a poll, almost 77.1% of El Salvadorans oppose their government’s continued use of public funds to buy Bitcoin. A study conducted by José Simeón Caas Central American University in El Salvador also states that since the country recognized Bitcoin as a legal tender last year, barely 24.45% of the citizens have used the world’s largest digital currency by market capitalization, as a form of payment. More here
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