Crypto Corner Episode 477: Galaxy Digital (TSX: GLXY.TO) Reports Q3 Financials, and PayPal (NasdaqGS: $PYPL) Crypto Services Push itBit Daily Volume to $25 Million
Point Roberts, WA and Delta, BC – November 16, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
Listen to today’s Crypto Corner Podcast: Crypto Corner Episode 477: Galaxy Digital (TSX: GLXY.TO) Reports Q3 Financials, and PayPal (NasdaqGS: $PYPL) Crypto Services Push itBit Daily Volume to $25 Million
SHARE PODCAST:
Get the Crypto corner on Spotify Stocks discussed: (OTC:BCHG) (TSX:GLXY) (NasdaqGS:PYPL)
After sinking below $16,000 for much of the past weekend, Bitcoin ( BTC ) recovered late on Sunday and is currently trading for about $16,470, according to data from CoinMarketCap .Shortly after reclaiming a trading price above $16K, Mike McGlone, Senior Commodity Strategist, Bloomberg Intelligence, made the case, in a tweet , for further growth if Bitcoin reaches $20K again:
“$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap — The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021.Mainstream adoption is rising..”
The Bitcoin Cash ( BCH ) network has split into two different blockchains – Bitcoin Cash Node (BCHN) and Bitcoin ABC (BCHA) – according to a report from Cointelegraph .The report indicates that the former is the favoured blockchain, as “miners have mined roughly 27 blocks for BCHN and none for Bitcoin ABC.” Furthermore, Grayscale Bitcoin Cash Trust ( OTC:BCHG ), since the announcement of the hard fork, has seen a drop of $1.6 million in the value of assets under management from Nov 9 to Nov 13.
Galaxy Digital Holdings Ltd.( TSX:GLXY ) has reported its third quarter 2020 financial results.Highlights include Galaxy Digital Trading (GDT) achieving “the best quarter in its history,” boasting trading volume of around $1.4 billion, in part attributed to the growth of its crypto derivatives business.
Michael Novogratz, Founder and CEO of Galaxy Digital, said:
“Galaxy Digital made progress across our business lines in the third quarter, including record volumes in our Trading business.
We’ve taken several key steps forward in the second half of 2020, including making critical senior hires, expanding our capital base, and completing strategic actions to position Galaxy Digital for the clear, incoming wave of institutional adoption ahead of digital assets and blockchain solutions by investors, corporates and governments.”
In under a month of offering crypto services, PayPal ( NasdaqGS:PYPL ) has reached trading volumes of $25 million, or 85 percent of industry giant Binance.US, according to a report from Crypto Briefing .Specifically, this is the daily volume on the itBit exchange from Paxos, with whom PayPal partnered for the former’s Crypto Brokerage.This is, however, still a far cry from industry leaders Kraken and Coinbase Pro, which post daily trading volume “greater than $500 million,” according to the report.
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood, Acorn, Stash and others.
About Investorideas.com – News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content.Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more.Investor Idea’s original branded content includes the following podcasts and columns: Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change , Exploring Mining the AI Eye .
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
https://www.investorideas.com/Audio/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles.
Original content created by investorideas is protected by copyright laws other than syndication rights.Our site does not make recommendations for purchases or sale of stocks, services or products.
Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities.All investing involves risk and possible losses.This site is currently compensated for news publication and distribution, social media and marketing, content creation and more.Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers.Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country.Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android
Contact Investorideas.com.
