[BeyondCC Daily Update] - 30 April 2020
The seven-day moving average of the number of addresses holding 10,000 bitcoins or more rose to 111 on Wednesday, the highest level since Aug. 2, 2019, according to blockchain intelligence firm Glassnode. That number has risen by more than 11% since early March.The ‘Great Lockdown’ Is Boosting Demand for Bitcoin Custody Solutions
For example, over the past two months the Austin, Texas-based bitcoin startup Unchained Capital, with over $50 million in assets under management and $150 million worth of bitcoin transactions processed, garnered several dozen new institutional clients, representing hundreds of individuals. Will Cole, Unchained’s chief product officer, said the custody product Vault saw 340% growth in Q1 2020 as compared to the previous quarter.Market Wrap: There’s a Bright Side to Bitcoin’s Drop on Worsening Unemployment
At press time, the world’s largest cryptocurrency was up just 1% over 24 hours at $8,864, with 10-day and 50-day technical indicator moving averages converging, thus signaling sideways sentiment. After bitcoin prices jumped to their highest levels in nearly two months, up as much as $9,478 on Coinbase in early trading Thursday, dismal unemployment numbers cut the gains down to size.