Institutional Gold Outflows Going Into Bitcoin, Not Alts – November 30

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$18,607

Bitcoin price has recovered almost all of its value from its recent drop to end last week, gaining ground back into the high $18,000s over the weekend.

Top-20 altcoins have had a strong performance over the last 24 hours of trading, as Ethereum rises 6%, XRP remains stable, and Chainlink sees a 5% gain.

Top Stories for November 30, 2020 🔥

👉 Institutional Gold Outflows Going Into Bitcoin, Not Alts

Co-founder of Three Arrows Capital, Kyle Davies has emphasized that recent gold outflows are going into Bitcoin and not “ripples”.

“No one goes gold -> $BTC -> alts”, Davies highlighted, in response to reports of weekly institutional gold outflows being the largest ever on record.

According to a Bank of America graphic, about $5 billion worth of gold has been sold off recently, the largest amount since 2013.

👉 Major Singapore Bank Possibly Building Crypto Custody Solution

Singapore’s third-largest bank, United Overseas Bank, could be in the process of building its very own cryptocurrency custody solution.

The notion has been prompted by a recent job posting by the bank for a VP crypto position, which is seeking advice on designing a solution to manage cryptocurrency keys.

👉 Curve Finance Votes To Distribute $3M To CRV Holders

A Cureve Finance vote has decided that almost $3 million in fees generated by the platform will be distributed to CRV token holders.

Almost 50% of all eligible voters participated in the vote. The fees – worth $2,631,602 – will be distributed on a weekly basis.

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