Torexo Finance

2021-05-19 20:08:12 ​​Bitcoin, ethereum plunge as sell-off smashes crypto sector
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Bitcoin and ether tumbled on Wednesday to 3-1/2 month lows, on track to post their largest one-day loss since March last year, in the wake of China's move a day ago to ban financial and payment institutions from providing cryptocurrency services.
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In late morning trading, the market cap was at $1.65 trillion, according to data tracker CoinGecko.
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Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it further down, It hit a 3-1/2-month low of $30,066.
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2021-05-18 10:56:34 ​​Ernst & Young is investing $100 million to expand blockchain product suite
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“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.
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On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.
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2021-05-17 09:58:54 ​​Our trading team last week recommendations

Ethereum prices are hitting new records.

Ethereum crossed the $4000 milestone and keeps rising, and the current price is $4200. The second-biggest cryptocurrency by market value is up over 400% since the beginning of 2021. What is the reason behind this exponential growth?

#1 Adaptation by the World’s Major Banks

First of all, the investment manager VanEck has applied for the creation of VanEck Ethereum Trust, an ETF (exchange-traded fund). This initiative can launch the first Ethereum ETF in the United States. Furthermore, The European Investment Bank (EIB) has created €100-million worth of 2 years digital bonds. The EIB now utilizes the Ethereum blockchain to issue bond tokens. A fascinating part of this news is that one of the partnering banks is Goldman Sachs. It means that banks and other institutional organizations situated in the EU can now do transactions that are working on Ethereum. This bond was also AAA-rated, the highest rate the bond can get. That is significant progress not only for Ethereum but also a massive win for the whole cryptocurrency community.

#2 Ether’s Utility

The Ethereum network supports the majority of trending cryptocurrency novelty – NFTs (non-fungible tokens). Moreover, the popularity of NFT is going to increase since now people can trade those on one of the world’s most prominent market places – eBay.

#3 Consensus Model of Ether – Proof-of-Stake

Ever since Ether started the transition from the Proof-of-Work model to the Proof-of-Stake blockchain, the price of the Ether has been surging. The popular way of earning cryptocurrency - Proof-of-Stake has been very successful in collecting more than 4 million Ethers for it, which is approximately $14 billion worth of crypto. It means now 4 million Ethers are unavailable for selling, which drove the price of Ethereum higher.

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2021-05-14 20:36:54 ​​Singapore’s biggest bank launches crypto trust solution
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DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets.
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After setting up its own crypto exchange in December 2020, the Singaporean banking giant is now expanding its crypto services via its wholly-owned trust company DBS Trustee, The Business Times reports Friday.
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The new crypto trust solution allows the company’s private banking clients to invest, custody and manage cryptocurrencies. The trust offering supports four cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, and Bitcoin Cash (BCH), which are the sole digital assets hosted on the DBS Digital Exchange.
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2021-05-13 20:21:01 ​​Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot
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The government of Bahrain, the third-richest Arab country, is working with American investment bank JPMorgan Chase on a digital currency settlement pilot.
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The Central Bank of Bahrain officially announced Tuesday that the bank is now collaborating with JPMorgan and the Arab Banking Corporation BSC, or Bank ABC, in a pilot scheme to introduce an instant cross-border payment solution based on digital currency technology.
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