Surging prices, anticipation, and steady coin interest round out today’s headlines.
Bitcoin On-Chain Data Suggests Influx Of New Users, Back To $58k?
Willy Woo, an on-chain analyst, on Mar 2 shared a screengrab showing a sharp rise in the number of new users using Bitcoin.
According to data, the number of “new entities,” most of whom are retailers, has been rising ever since the Bitcoin price plunged to around $43.5k mid-last week.
Often, judging from previous cycles, a spike in retailers’ entry precedes a market rally. In this case, Willy woo expects the Bitcoin price to follow suit, jumping from spot rates to a new level towards February 2021 highs of around $58k.
Notably, sparking the BTC/USD price climb to spot levels was the accumulation of BTC by MicroStrategy, who issued convertible notes, raising $1.05 billion for direct investment into Bitcoin. At the same time, Square Inc.—the parent company of Cash App, bought $177 million of BTC, adding to their prior $50 million purchase.
Amazon’s Managed Blockchain Service Now Supports Ethereum
Two years after Amazon Web Services (AWS) hinted at Ethereum integration, the company–through a blog post, has now confirmed that its “managed blockchain” service would support the deployment and management of Ethereum full nodes operating from Amazon’s infrastructure.
Presently, there are over 8,300 Ethereum full nodes, according to Etherscan.
However, the number could rise because of AWS’s new tooling support and confidence that Ethereum could play a future role as a dApp hosting platform.
Bitwise’s decentralized finance (DeFi) index fund attracts $32.5 million in two weeks
DeFi tokens are on a tear, posting over 5X returns in the last year of trading.
Following Bitwise’s DeFi index’s launch, the fund has received $32.5 million from over 250 investors just two weeks after launching, records from the United States Securities and Exchange Commission (SEC) reveal.
According to analysts, institutional-grade investors’ ferocious appetite is enough to propel the fund as the fastest-growing private placement ever.
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