1. Bitcoin has continued trading higher Wednesday after breaking above the $20,000 level during early U.S. trading hours. Meanwhile, with a short supply of bitcoin and a surging demand, traders and analysts are optimistic the oldest cryptocurrency can keep its bull run going for a longer time. Bitcoin (BTC) trading around $20,808.28 as of 21:00 UTC (4 p.m. ET). Gaining 6.70% over the previous 24 hours, which trading range was between $19,293.30 and $20,890.11.
2. According to the ChainNews, and the Block report, Sovryn, a decentralized trading and lending platform, announced the official launch, allowing users to conduct bitcoin transactions, leverage transactions, and borrow bitcoin to earn interest in a permission-free and censorship-proof manner. Before the official launch, Sovryn also raised $2.1 million in funding, with investors including Greenfield One, Collider Ventures and Monday Capital.
3. On December 17, One River, a new institutional-focused investment company, planned to allocate up to $1 billion in assets to Bitcoin and Ethereum before the beginning of next year. The hedge fund had previously quietly purchased more than $600 million in crypto Currency, this process was completed in November last year. Alan Howard, the billionaire co-founder of Brevan Howard Asset Management, is one of the fund’s supporters. According to Bloomberg (Bloomberg), One River Asset Management Company is to attract institutional interest in cryptocurrencies. According to the report, Northern Trus will act as the fund manager, and Coinbase will act as its initial transaction execution and custody partner.
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