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Crypto weekly wrap-up: What’s new in the world of bitcoin?

3 Mins read

For people who want to invest in bitcoins, it is essential to stay aware of everything that happens in the world of bitcoin. If you can’t keep yourself updated with daily Bitcoin news, we have a solution for you. To invest in bitcoins, you can join crypto engine today 

Now and then, we arrive with a list of news that has impacted the bitcoin market. Going through this article will help you get every bit of information about bitcoin, and you will be able to make wise decisions. 

You can try out this platform if you want to get short snippets of everything around bitcoin and the crypto world.

Taproot update

The biggest news in the bitcoin world in the last week was the bitcoin upgrade named the Taproot. The upgrade happened last week. The upgrade was quite successful as perusers. It was also activated after 90% consensus among the crypto community. As per the update, the taproot fork introduced the Meklelized Abstract Syntax Tree (MAST) concept. As per the protocol, the new update will help improve the privacy protocol of the bitcoin network. In addition, it will also assist in improving the efficiency and effectiveness of smart contracts. 

Rejection in bitcoin ETF proposal

In other news, the SEC rejected the Bitcoin ETF proposal. VanEck gave the proposal. It was rejected as the fund could not meet the burden under the exchange act and the commission rule. In addition, it could not prove that the proposal was per all requirements. Any of these proposals have to conform with the rules of national security exchange. The main aim is to prevent fraudulent activities and practices from protecting investors’ and public interests.

Bitcoin is close to a higher level.

The market put aside all this sad news about bitcoin. They kept all this news in the rearview mirror. The crypto community was happy that bitcoin attained a high. Just a few weeks ago, bitcoin was traded at $60,000. There is a possibility that we will see another reset very soon.

ETH is eyeing bounce back

In the coming week, ETH can slip below the $4000 point. It is the second-largest crypto as per the market cap. It has consistently managed the buying pressure in the last week. 

Since October last year, ETH has found itself in an increasing channel, and it has also taken support from the trendline. It has given a signal that bulls were in a fight to keep the levels. But, ETH value has gone below, and it can also go below $4000 before moving to a $5000 mark.

Launch of crypto payment card

In another exciting news about crypto, Mastercard has announced that there will be a launch of a crypto-linked payment card. The launch will be for the entire Asia-Pacific region. For this fantastic launch, Mastercard is partnering with Amber group and CoinJar. All these companies offer crypto exchange and purchase in the domestic market. After the launch, consumers and businesses in the region can apply the crypto-linked Mastercard, Debit card, and prepaid cards. This way, they will be able to convert the cryptocurrency into fiat currency. Then, it can be spent anywhere where the Mastercard can be used. Additional information is available on the Mastercard website, and you can get more details from there. 

Use of bitcoin technology by Doctors without borders

In another happy news about bitcoin, blockchain technology is being used by Doctors without borders. The company Transcripts announced its partnership with Doctors without borders. As per the partnership, blockchain technology can easily store almost 76000 records on the blockchain.

It will help in recording the immunization record of the Covid-19 vaccine. The best part about using blockchain technology is that it can be easily accessible to patients. 

It is for the very first time that the company has moved towards the medical sector. The invention will also increase the utility of the technology, and people will have more faith in bitcoin technology. Storage of information and medical records on blockchain technology and reaching patients can save many lives.

We hope all these updates about bitcoin will help you in making a wise decision about bitcoin investment. 

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