Bitcoin Gets JP Morgan’s Endorsement
Strategists at JPM have suggested that a 1% portfolio allocation to Bitcoin can serve as a hedge against fluctuations in traditional asset classes such as stocks and bonds.
The endorsement gains its momentum from recent major investments made by prominent firms such as MicroStrategy and Tesla, in addition to BNY Mellon’s plans to hold and issue the digital asset for its clients.
Though the cryptocurrency is seeing a price correction, the market is still undoubtedly bullish for Bitcoin as institutional investors continue to load up.
The Awakening of Kraken
Kraken is seeking to raise new capital in a move that allows the company’s valuation to see a meteoric rise to $10 billion or more.
The crypto exchange is currently negotiating with top investors Fidelity and Tribe Capital and General Atlantic.
This comes less than one week after many of Kraken’s users threatened legal action over a glitch that priced Ether (ETH) at $700 which triggered bloodshed liquidations on the platform, whilst rival exchanges saw ETH above $1300.
We’re 1inch Closer to Lower Gas Fees
Previously an Ethereum-native, the DEX aggregator is now live on Binance Smart Chain (BSC) - a move that directly alleviates the ailments of high gas costs on the Ethereum network.
The team announced that it ported 10 million 1INCH tokens to BSC, which then will be used as a liquidity bridge between Ethereum and BSC.
1inch users will now get access to PancakeSwap (CAKE), BakerySwap (BAKE), Venus (XVS), BurgerSwap (BURGER), and other BSC-based DEXs and lending protocols.
