Capitalization of the crypto market exceeded $3 trillion for the first time
Over 24 hours, the market valuation of digital assets increased by 4%. This happened after bitcoin overnight rose in price by $3.5 thousand, and Ethereum renewed its historical high above $4.78 thousand.
On the morning of November 8, the cryptocurrency market capitalization exceeded the $3 trillion mark for the first time, according to CoinGecko. The market valuation of the digital assets market increased by 4% during the day. This came after bitcoin rose by $3,500 overnight and its capitalization exceeded $1.2 trillion.
Over the past 24 hours, the value of the first cryptocurrency increased by 6.7%. As of 10:30 Moscow time, the asset is trading at $66,100. The asset is approaching the record of $67,000 set on October 20. Bitcoin has 1.5% of growth remaining before it can update its peak.
Coinbase began testing a zero-commission subscription service for customers
As part of the new service, the crypto-exchange will provide priority technical support, as well as compensate for the loss of assets up to $1 million if they are stolen
First public cryptocurrency exchange Coinbase has begun testing the Coinbase One subscription, which will allow customers to trade digital assets with zero fees, as well as prioritize technical support, reports The Block. According to the publication, a small group of Coinbase users have already gained access to the new feature as part of testing.
The subscription will also protect assets up to $1 million from theft. The cryptocurrency exchange is ready to compensate funds in case the account is hacked. The cost of the subscription, as well as the exact launch date of the new service is still unknown.
El Salvador to build 20 schools on profits from bitcoin investments
At the moment the country’s authorities own 1,120 BTC, which are estimated at $70.5 million at the current rate on November 3
The government of El Salvador will build 20 schools using the profit, which was brought to the country’s government by investments in bitcoin. This was reported on Twitter by the press office of Salvadoran President Nayib Buquele. At the moment, the government of El Salvador owns 1,120 BTC ($70.5 million at the current exchange rate on November 3).
In October, Buquele announced the construction of a new veterinary clinic in the capital of El Salvador with the profits from investments in the first cryptocurrency. The president said that $4 million would be allocated for the project. At that time Buquelet explained that the surplus of $4 million in the Bitcoin Trust was formed due to the rise in bitcoin prices. The balance also holds U.S. dollars, which are used to secure investments in the cryptocurrency. Thus, the fund can make a profit without selling bitcoins.