CryptoWatch rounds up the second week of January with some good news for the cryptocurrency industry, and the top story is that Bitcoin sees a massive surge this week, and it is at its highest value of the month. Alongside this is Twitter's secret quest about developing its digital coins to soon be available to the public, and Binance expanding its employment opportunities for all.
(Photo : Tech Times)
For a long time, the cryptocurrency industry has been struggling, but there seems to be a ray of hope this early 2023, with better days ahead for investors.
Bitcoin Surges Amidst FTX's Recovery
The world's top cryptocurrency saw a massive surge in the past week and rallied to an all-time high this month with a valuation of around $21,000 (via CoinMarketCap). As seen on the graph, it rose from last week's $17,000 valuation for as much as $4,000 this week, and even until the start of January's third week, the coin is steady at a safe spot.
One of the main reasons for this rise is FTX's recovery of $55 billion in assets which it once lost amidst its bankruptcy concerns, with the company already celebrating this as a win.
FTX being one of the most famous trading firms in the world, many traded Bitcoin here, and those assets were once lost, also one of the reasons for the top coin's decline.
Twitter's new Secret Coins
There is a new digital currency under Twitter, and its assets are still a secret for now.
However, this is under an initiative that is already known by the public, under the project called "Coins," and it is Twitter's take on monetization on the platform. According to Elon Musk, this would allow users to give money to platform producers, content creators, and people, which they could also buy as digital assets.
According to Jane Manchun Wong, web purchases of Twitter Coins would be done through the platform known as Stripe.
All unused Coins will be kept on one's balance, available for users to give to other creators they wish to help and support via the digital currency.
Binance Employment
Binance CEO Changpeng Zhao wants more workers in the company, and it will be expanding its workforce by 15 to 30 percent this 2023.
This is because Binance became a "well-organized" company, and one of the top cryptocurrency platforms in the world, hence looking into a larger organization.
Additionally, the company is doing this amidst the industry's decline, especially with other companies looking at layoffs and a massive unemployment rate to save money and keep their organizations afloat.
"We will continue to build, and hopefully, we will ramp up again before the next bull market," says Zhao during the Crypto Finance Conference (CFC) in St. Moritz, Switzerland last week.
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