The more exposed you are to the frequent changes in the crypto industry, the better are the results of your investments. Here, we are providing you with the most important news of 30/11/2021 related to crypto. Take a look:


Bitcoin transferred an average of $95K for every $1 fee

Bitcoin transferred an average of $95K for every $1 fee

Shaping the crypto industry with its unmatched potential of transforming the payment system, Bitcoin Network is now settling more transactions for lower fees from users. In recent research made by the on-chain analyst, Dylan LeClair it was found that the value settlement capacity of the BTC network has seen a steady improvement. The enhanced efficiency was clearly visible a week before when an average value of $95,142 was settled by the Bitcoin chain for every $1 fee fetched from the users.

According to the report, the on-chain value processing capacity of Bitcoin has been on a constant surge since May 2021. This can be attributed to the fact that this period witnessed a heavy flow of money across the network because of the bullish trend. Dylan observed the change by studying the data reports of Glassnode, a popular analytics providing platform. The end results are derived by dividing the average transaction volume by the fee charged by the blockchain ecosystem. The final settlement costs were 0.00105% of the total $451.3 billion worth of value transferred across the network.

Bitcoin ranks 7th in terms of daily transaction fees stated in a data report by fee tracking portal CryptoFees. The weekly average of BTC is nearly $678,000, a figure that puts it way behind other blockchain networks like Ethereum, BSC, SushiSwap, etc. Presently, Ethereum is processing $53 million in daily fee charges which are 98.7% higher than what Bitcoin is doing. The average transaction volume of ETH when divided by the fees is $139 in value for every dollar charged as fees.

Another analysis by Bitinforcharts revealed that the mean transaction fee on the BTC channel is nearly $2.13 currently which is quite less in comparison to the value of $42.58 on Ethereum. This year has witnessed a whopping 50% fall in Bitcoin transaction fees. The difference between Ethereum and Bitcoin increased dramatically by the later part of July. The constantly changing dynamics of the crypto domain makes it a ‘worth taking risk for investors looking for quick earnings.




BIS Innovation Hub and Fed comes together for digital assets analysis

BIS Innovation Hub and Fed comes together for digital assets analysis

Hailing as the top-tier financial regulatory institution, the Federal Reserve Bank of New York (FRBNY) has joined hands with the Bank for International Settlements Innovation Hub. The partnership will offer necessary support to the newly-launched ‘New York Innovation Center’ helmed by the Federal Reserve Bank of New York. With this project, FRBNY is looking forward to exploring new-age technology, tools, and resources for developing the global financial ecosystem.

The news about the partnership was made official by the Federal Reserve chief, Jerome Powell during an interaction at the opening ceremony of the NY Innovation Center. The chairperson stated that the deal with BIS Innovation Hub will play a significant role in supporting the research and analysis programs related to virtual currencies. The teams will put in their joint efforts on the CBDC project and enhancement of cross-border payment settlement channels.

The New York Innovation Center will be managed under the leadership of Per von Zelowitz, the ex-PwC director of banking transformation. Choosing BIS Innovation Hub as a partner is likely to be a well-planned decision of the FBRNY team. BIS Innovation Hubs has always worked as a catalyst for projects focused on the integration of CBDCs with payment systems used by countries and banks worldwide. The network finds its presence in Hong Kong, Singapore, Toronto, London, Stockholm, etc. According to a BIS January survey, 86% of top-tier central banks have been working on CBDC projects.

The Federal Reserve chief conveyed that the use of modern technology, machine learning, AIs, and big data is changing the financial space dramatically. He even cited that some people are seeing this technological advancement as a catalyst for a digital revolution. Powell is awaiting a hearing from the Senate Banking Committee regarding his nomination for the second term as the Fed chief. The spearhead, in September, revealed that the authorities are striving to launch a CBDC soon and have no plans to impose a complete ban on crypto use.




Galaxy Digital raises $500 million for business expansion in convertible debt

Galaxy Digital raises $500 million for business expansion in convertible debt

Founded by billionaire investor Michael Novogratz as a crypto-financial service provider, Galaxy Digital has announced raising $500 million in the debt market space. The firm has decided to issue $500 million in exchangeable senior notes to reap in the benefits of the growing popularity around the virtual currency industry. With the collected funds, Galaxy Digital aims to expand its operational capacities and diversify its core initiatives.

As per the latest information, the funds released by the Galaxy Digital team will come packed with a seamless option of conversion into the company’s equity wealth. They will bear an interest rate of 3% p.a. with a fixed maturity in 2026. The cryptocurrency brokerage firm will utilize the newly-formed capital in expanding its coverage across the industry. This will include interventions into Non-fungible Tokens or NFTs. The firm has decided to invest $62 million of its total capital into 22 high-potential NFT-based projects.

For the unversed, CEO Mike Novogratz has always been an ardent supporter of cryptocurrencies and virtual tokens. He has encouraged investors to create nearly 1% to 5% of their investment portfolio with crypto. Recently in October, Galaxy Digital crossed $3 billion figure in assets under management class and became one of the biggest crypto investment firms in the world. The last quarter fetched a sum of $517.1 million from trading, investment, crypto mining, asset management, and other activities for the firm. The firm is registered in the Cayman Islands while its stock is listed on the Toronto Stock Exchange. The company is looking forward to listing its shares in the U.S in 2022 and is awaiting a positive nod from the SEC

Related Blogs

Join 30000+ Certified Professionals & Get Ahead In Your Career!

Invest In Your Learning Today!

Subscribe to Our Newsletter

Subscribe to Our Newsletter

To receive Offers & Newsletters

    Invest in your Learning! Check Certifications Tailored just for you

    50,000+ Professionals certified so far by Blockchain Council



    expires in


    Enroll today in any of the popular certifications curated as per the Industry trends.