Saturday, October 23, 2021

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Bitcoin’s (BTC) institutional adoption reveals no indicators of slowing down. This week Latin America’s largest e-commerce firm, Mercado Libre, disclosed that it had bought $7.8 million price of Bitcoin as a part of its treasury technique. 

Mercado Libre was not solely on this resolution, as Metromile Inc., a Nasdaq-listed digital insurer additionally mentioned it plans to purchase $10 million price of Bitcoin within the second quarter of this yr. Moreover, Metromile will quickly begin accepting premiums and paying out insurance coverage claims in Bitcoin.

Crypto market knowledge each day view. Supply: Coin360

Knowledge from Glassnode means that traders who purchased Bitcoin in late 2020 are HODLing their positions. This reveals that traders haven’t hurried to guide earnings on their positions after the sharp rally and that they aren’t dumping their positions on each minor correction.

As Bitcoin makes an attempt to stage a robust comeback, a number of altcoins proceed to rally. Let’s deal with three such tokens which were short-term outperformers.