Around the Blockchain with Huobi Global (2 Feb 2022)

Welcome to Around the Blockchain, Huobi Learn’s daily rundown of the crypto markets.

BUY.MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin,” said MicroStrategy CEO Michael Saylor.

BUY. BTC Whale monitor Whalemap reported that large wallets accumulated 330,000 BTC after a buying frenzy at prices between $36,000 and $38,000.

BUY. FTX has acquired Japan-licensed Quoine as part of a deal to buy Liquid Group and its subsidiaries. No financial details were discloased but FTX said it will transfer its users over to Quoine from 30 March 2022.

BUY IN. El Salvador has rejected the IMF’s demand to reject BTC as legal tender. President Nayib Bukele also relaunched the Chivo wallet, now integrated with AlphaPoint for scalability and reliability, and will deploy 1,500 Bitcoin ATMs.

Huobi Incubator, the project incubation arm of Huobi Global, has partnered with the DFINITY Foundation, a major contributor to the Internet Computer. Huobi Incubator will provide end-to-end support for Internet Computer-based Web3 dapps, DeFi, Games, NFTs, Social Media, and Metaverse projects — including seed round investment, technology guidance, marketing and community engagement.

Shares of PayPal (PYPL) fell more than 16% after the payments giant reported Q4 earnings per share that just missed analyst estimates ($1.11 instead of $1.12)  and a slowdown in revenue growth (13% vs 25% in the first quarter). Q-onQ user acquisition growth was also down (9.8 million vs 13.3 million).

Show me the money

BTC opened February (and the Chinese/Lunar New Year) with a small 1% gain that pushed prices close to $39,000. ETH made a 4% gain and the rest of the crypto market was buoyed by the move as well. Market sentiment has stabilised and analysts cautiously warn that there could be a rebound or short squeeze.

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