Market Analysis
The week began with a strong jump upwards but then deflated in the following days. The majority of the openings this week were red signs with slight rises, with bitcoin supporting levels at around 10700 dollars, it gained 4% from last Fridays levels. Ethereum also performing better last week increasing 5.5%.
Mainstream adoption
Around $6.7 billion in BTC is currently held by public companies, including US software giant MicroStrategy. Included in this number are some of the companies that hold bitcoin on behalf of their investors, such as B. Gray Scale Investment Asset Managers. Bitcoin Treasury provides a list of public companies that hold BTC, the list reveals a total of 13 companies own 2.85% of the total bitcoin supply.
An increasing number of mainstream listed companies and financial institutions are realizing that digital assets is a financial tool that creates an opportunity for wider group of investors to participate in the global monetary and open financal ecosystem.
Hype cycle
The next version of Bitcoin Core will support Tor Network’s latest V3 addresses—that will fully become the new standard next year. In July, Bitcoin developers announced that the network’s V2 addresses that have been in use over a decade already and will be “retired” on October 15, 2021. They will be substituted with the new V3 addresses that have been in development since 2015.
New features like V3 address and Gossip shows the vitality and adaptableness of bitcoin system, which will provide a new level of user convenience and scalability in the future.