Square’s Cash App has reported that the platform saw a 200% increase in Bitcoin revenue. This comes despite Square suffering a $45 million impairment from its Bitcoin investment. Yearly revenue reports saw Cash App’s revenue go from $875 million to $2.72 billion. While bitcoin gross profit went from $17 million to $55 million in the […]
Bitcoin continues to beat expectations this year. Despite most investors speculating the bull market was already over, the digital asset has posted another rally that shows that the market might in fact still be in a bull cycle. The last two weekends have seen bitcoin prices adding at least $4,000 in the span of three days. Breaking what has been a slow and brutal downtrend cycle in the market for the last month. Now, on-chain expert Willy Woo was on the podcast What Bitcoin Did to talk about the price of bitcoin and give his predictions regarding the price. Woo, for one, does not believe....
Business Insider reports that wealthy Wells Fargo clients can now get Bitcoin & crypto exposure through the bank.High-net-worth Wells Fargo clients can now get Bitcoin & crypto exposure, a company spokesperson informed Business Insider, making Wells Fargo the latest in a long line of traditionally conservative financial institutions to venture into Bitcoin.In May, it was reported that the investment-research division of Wells Fargo Wealth and Investment Management was going to implement an actively managed Bitcoin and crypto strategy to its qualified investors. The firm’s wealth....
South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges....
Bitcoin’s hashrate recovery, steady peer-to-peer markets and the steady volume exhibited by Asia-based exchanges suggest that China’s attempt to ban BTC was ineffective. Bitcoin (BTC) might have suffered its largest coordinated attack over the last couple of months, but in this instance, the investor community did not capitulate. China outright banning mining in most regions after giving BTC miners a two-week notice and this caused the single largest mining difficulty adjustment after the network hash rate dropped 50%.The market sentiment surrounding Bitcoin was already damaged after Elon....
A new proposal of a digital transformation law, written by a group of lawmakers in Spain would introduce the possibility of paying mortgages with cryptocurrency. The law draft also gives different incentives for companies and organizations using and developing solutions using these technologies, including tax cuts. Banks are also included in the regulation, and the draft includes the use of smart contracts for managing some processes in these organizations. Spain Would Include Crypto in Its Mortgage System A new draft of a digital transformation law, presented by a group of lawmakers from....
Pleb.Hodl, Bull Bitcoin’s new head of marketing, discussed his rabbit hold journey and the importance of welcoming precoiners.Watch This Episode On YouTubeListen To This Episode:BitcoinTVAppleSpotifyGoogleLibsynOvercastIn this episode of Bitcoin Magazine’s "Meet The Taco Plebs," I sat down with Bull Bitcoin’s newest head of marketing, Pleb.Hodl (@btcplebeian on Twitter) to discuss his unique Bitcoin rabbit hole story, his new position at Bull Bitcoin, the effect Bitcoin has on one’s mindset and much more. Pleb.Hodl went into detail about his experience being “fiat pilled” coming out of....
LibertyX currently services 20,000 retail stores in the U.S. with 9,500 crypto ATMs. Enterprise technology provider NCR Corporation has announced an agreement to buy LibertyX, the company that launched one of the first retail Bitcoin ATMs.In a Monday announcement, NCR said it expected to purchase LibertyX later this year depending on regulatory licensing consents and approvals. The firm said it planned to offer LibertyX’s capabilities as part of its solutions for banks, retailers and restaurants, implying NCR clients could see crypto withdrawals, purchasing, and payment features after the....
After arousing confusion with incomplete communication and forced liquidations on lending contracts, Hodl Hodl explains what happened.On August 1st, peer-to-peer bitcoin trading and lending platform Hodl Hodl tweeted that the company was upgrading its security measures and contacting users individually through email. A few hours later, the firm shared it was force-liquidating some contracts in its lending platform, without further explanations. But today, Hodl Hodl released a PGP signed statement explaining the events and apologizing for the lack of proper communication.“[We] have started....
Bitcoin price action might not reflect it, but the leading cryptocurrency by market cap could be massively undervalued, according to a variety of fundamental metrics that focus on coin issuance. These tools are widely known, but when combined paint a clear picture that backs up any chance that the top coin by market cap is actually undervalued at $40,000 per BTC. Speculative Boom And Bust Cycles And The Impact On Perception Of Value Any asset – be it stock, currency, commodity, or otherwise – goes through boom and bust cycles; bull and bear markets. These cycles are more rapid and take....
Bank Of America has said that it sees how El Salvador’s adoption of Bitcoin could help the Island country. President Bukele Agrees With Bank Of America President Nayib Bukele of El Salvador, a Central American country, tweeted yesterday screenshots of a Bank of America economic outlook report (BofA). Along with explaining why the bank is […]
What will ease the burden of DeFi users and remove some of the barriers to entry for newer market participants? This project sees the future of DeFi as multichain co-existence. As decentralized exchanges now represent a significant amount of crypto trading volume, it is vivid that these platforms will play a big role in the smart economy of the future.Automated market makers, in particular, changed the game by eliminating the need for order books entirely and replacing them with liquidity pools. This model was a win-win for both traders executing swaps and liquidity providers incentivized....
Bitcoin price has hit a few barriers but many altcoins appear positioned for continuation. Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67. However, lower levels could again attract buying as seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a new all-time high at 9.23 million Bitcoin on Aug. 1. The previous all-time high for this group of investors was recorded on April 5, just over a week before....
A rapid rise in popularity has driven up the average price of CryptoPunks NFT by 53 percent in within one week. Its price surged from $87,000 (34 ETH) on July 24 to a huge $135,000 (52 ETH) yesterday. Scammers became hungry as a result of the fervent enthusiasm in the NFT space. An NFT videogame […]
This third edition of Cycling On-Chain takes a closer look at bitcoin’s ongoing supply squeeze and recent short squeeze.Cycling On-Chain #3: LemonadeDilution-proof, August 1, 2021Cycling On-Chain is a monthly column that uses on-chain and price-related data to better understand recent market movements and estimate where we are in bitcoin’s larger market cycle. After providing a broader look back and forward in the first edition, and discussing how Bitcoin has entered the geopolitical stage in the second edition, we’ll now take a look at the current, ongoing supply squeeze that recently led....
According to a chief market strategist, Ethereum could form a possible w-bottom, an indicator that usually suggests a bull market. Strategist: Ethereum Might Form A “Higher High” In a call with MarketWatch, Matt Maley has said that ETH could be moving in a bullish direction if certain conditions are met. Maley is a chief market strategist at Tabak and Co., and during the call with MarketWatch, the strategist has talked about Bitcoin and Ethereum. According to Maley, the 200 Daily Moving Average (DMA) is an important level, breaking above which would be bullish for the crypto.....
The NFT market has made a comeback and broken its weekly trading volume record. The new all-time-high is around $208 million. NFT Weekly Trading Volume Reaches New ATH Over the last week, the NFT market has climbed to new heights as markets register record breaking transfers. The weekend especially saw big movements of these digital […]
Fun and excitement have been let loose for players to experience amazing new games at Bitcoin.com’s very own crypto gaming portal! An enthralling range of games are on offer at Bitcoin.com Games – the crypto casino that players have come to love to play their favorite games on in recent years. Ever since its inception back in 2016, the casino portal has quickly become a favorite amongst crypto enthusiasts owing to the wide variety of games, a robust platform, and the trustworthiness of the Bitcoin.com brand. With undeniably exciting games from highly sought-after gaming....
"The offers and sales that the SEC challenges did not occur in this country and are not subject to the law that the SEC has invoked in this case," said the legal team. The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission, or SEC, now involves major crypto exchange Binance after a recent filing on behalf of Ripple CEO Brad Garlinghouse.According to court documents filed in the Southern District of New York on Monday, Garlinghouse’s legal team has requested documents “relevant to the case and unobtainable through other means” from Binance Holdings Limited, the....
Voyager acquired Coinify, but their focus on stablecoins might leave their customers behind while Bitcoin walks toward full monetization.New York-based bitcoin and cryptocurrency trading platform Voyager announced today the acquisition of Coinify, a cryptocurrency payment platform with customers in over 150 countries, for $85 million. But their focus on stablecoins instead of Bitcoin might be a hurdle long term.Coinify allows merchants to accept bitcoin and cryptocurrencies in their businesses while receiving payouts in fiat currencies. The payments platform supports more than 20 national....
U.S. financial services firm NCR Corporation has announced an agreement to acquire LibertyX, a Bitcoin ATM operator launched in 2014.Public U.S. financial services firm NCR Corporation has announced an agreement to acquire LibertyX, a Bitcoin ATM operator launched in 2014.Revealed via a press release Monday, the company said the acquisition will “accelerate” its ability to provide Bitcoin and cryptocurrency buy and sell services to its market. NCR already has nearly 1 million ATMs around the globe.Chief Technology Officer at NCR im Vanderham commented, “Due to growing consumer demand,....
An arrest warrant for Riccardo Spagni was issued on July 20, 2021 at the request of the South African government. He was apprehended the same day in the United States. Riccardo Spagni, the former maintainer of the Monero cryptocurrency, was arrested last month in Nashville, Tennessee on fraud charges tied to alleged offenses in South Africa between 2009 and 2011. Spagni was on board a private jet scheduled to fly to Los Cabos, Mexico when he was apprehended in Nashville during a scheduled refueling stop, according to court documents. His journey originally began just outside of New York....
There are various things occurring that many may consider bearish; it appears that bitcoin just doesn’t care.Last Week In Bitcoin is a series discussing the events of the previous week that occurred in the Bitcoin industry, covering all the important news and analysis.Summary Of The WeekWe’re back in the 40s, baby! Bitcoin spent most of the week hovering around $40,000, spurred by bullish news and unphased by the U.S. Senate’s planned attack on Bitcoin through their new infrastructure bill. There’s a lot to unpack from the week and we have a handy new timeline to show how different bits of....
It has been an exciting year for FUN Token. In January, the unassuming ERC-20 token was given a new lease of life by a Bitcoin casino with over 46 million users. Subsequently, FUN Token made a brief but significant foray into the Top 100, rallying over 700% in three months. Since then, FUN has gone […]
Press Release: Velas is proud to announce the launch of a $5 million funding program to support the growth of the Velas ecosystem and expand our reach in the new Web 3.0 epoch 3rd August, 2021, Zug, Switzerland – Today Velas are announcing the launch of a major funding program for projects to build upon […]
Calls for a doubled-up Bitcoin price rise as the cryptocurrency paints ten green candles in a row. While Bitcoin's (BTC) price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Aug. 2, some analysts anticipate that it can rise by another 100%.Nunya Bizniz, an independent market analyst, posted the bullish setup on Sunday, noting that each of the cryptocurrency's previous 10-day bull runs has ended up doubling its prices at a later stage. Therefore, if the history repeats or....
Bitcoin has continued to show tremendous gains lately in the market. The weekend saw the price of the digital asset shooting up above $42,000 for the first time in over a month, seeing continuous green daily closes for nine days straight for the first time in ten years. Following this has been a number of speculations on why this is happening. And more importantly, how this trend is most likely to end. The indicators continue to point towards bullish but with the price fluctuations that bitcoin is notorious for, there is no telling how exactly the current uptrend will end. Related Reading....
Jack Dorsey’s company Square has announced that it plans to acquire Australian technology company Afterpay. This was revealed in a press release that went out on August 1st. The press release showed that both companies had entered into what is known as a Scheme Implementation Deed. Square plans to acquire all of the issued shares […]
A new chapter for regular retail traders has come, bringing with it the ability to maneuver the financial markets in the same way as accredited investors. The past decade has seen explosive growth in venture capital investment with records showing a whopping $118 billion worth of investment in contracting venture capital firms targeting early-stage companies […]
Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners and small power plants have been fueled by this goal. Sichuan, Yangtze River Hydropower Plants Feel the Aftermath of the Recent Crackdowns on Energy Production and Consumption in China During the last few months,....
BofA sees four upsides to Bitcoin adoption in El Salvador, including remittances, financial digitalization, and foreign investments.Nayib Bukele, President of the Central American country El Salvador, tweeted yesterday screenshots of an economic viewpoint report by the Bank of America (BofA). Along with detailing why the bank is constructive on the outlook for El Salvador’s economy, the report also outlined the opportunities Bitcoin adoption as legal tender might bring for the country.BofA said it recognizes how cross-border remittance inflows, which account for a substantial 24% of El....
"As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager's digital asset ecosystem," said Voyager co-founder and CEO Stephen Ehrlich. Crypto-asset trading firm Voyager Digital has arranged to purchase payments company Coinify in a deal worth $85 million in cash and stock.In a Monday announcement, Voyager said it would issue 5.1 million shares of its stock — worth roughly $70 million at the time of publication — as well as provide $15 million in cash to Coinify investors. The company said it would retain $5.5....
Bitcoin price rejection at $42,000 means BTC is now trying to find new high lows, but at what price levels? Bitcoin (BTC) has seen an impressive rally of 44% with ten green days in a row. This rally and the substantial number of green days resulted in a sentiment shift. Practically two weeks ago, the market was comparable to a funeral, with many expecting more downside to $20,000. However, the sentiment completely shifted after the breakout above $31,000. The current sentiment is the expectation of Bitcoin to rally to $100,000 or higher in the second part of this year, while on-chain....
Institutional investors are diversifying into altcoins amid the latest market downturn. Multi-asset investment products registered another sharp rise in weekly inflows. Institutional outflows from cryptocurrency funds intensified last week, a sign that fund managers were still taking profits on their Bitcoin (BTC) holdings following a historic run-up through April. Digital asset investment products saw cumulative outflows totaling $19.5 million for the week ended Friday, marking the fourth consecutive weekly drawdown, according to CoinShares data. The bulk of the outflows were concentrated....
A U.S. congressman has introduced the Digital Asset Market Structure and Investor Protection Act. The legislation would “provide the Securities and Exchange Commission (SEC) with authority over digital asset securities and the Commodity Futures Trading Commission (CFTC) with authority over digital assets.” Digital Asset Market Structure and Investor Protection Act U.S. Representative Don Beyer introduced the Digital Asset Market Structure and Investor Protection Act last week. The legislation would incorporate digital assets into existing financial regulatory structures,....
The amount of Bitcoin held on addresses storing between 100 and 10,000 BTC has hit 9.23 million Bitcoin for the first time ever. Amid a renewed bullish trend on the cryptocurrency markets over the past few weeks, more users have moved into trading Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization.Data from blockchain analytics platform Glassnode shows that Bitcoin has seen a notable surge in terms of active addresses in the past week of July, with active BTC entities rising 30% from 250,000 to 325,000 active users.According to Glassnode’s seven-day exponential....
Casa is launching a product allowing users to purchase Bitcoin via automatic bank payments that are then sent straight to a user’s multisig wallet.Bitcoin security services startup Casa is launching a product allowing users to dollar-cost average (DCA) into Bitcoin, purchasing BTC via bank payments that are then sent straight to a user’s multisig wallet.DCA bitcoin buying solutions are growing popular on many exchanges, presenting investors with the option to make small recurring purchases to smooth exposure to price volatility and promote long-term investing habits. Casa’s CEO Nick Neuman....
The company’s bid to become the largest Bitcoin miner in the United States could be achieved by 2022. Marathon Digital has announced the purchase of additional Bitcoin mining hardware from Bitmain.According to a release issued on Monday, the United States-based Bitcoin (BTC) mining giant has completed a purchase deal for 30,000 Antminer S19j Pro at a reported cost of $120.7 million.The news marks a continued increase of Marathon’s Bitcoin mining inventory, with Bitmain expected to complete the delivery of the new rigs by June 2022.With the 30,000 rigs in tow, Marathon’s total Bitcoin miner....
Matrixport, the digital currency financial services company co-founded by the former Bitmain CEO Jihan Wu, has revealed the company has raised $100 million in a Series C financing round. The funding has propelled Matrixport’s valuation to unicorn status as the firm now has a valuation of over $1 billion. Matrixport Now Valued at $1 Billion, Company Raises $100 Million in Series C On Sunday, the company Matrixport, a financial services firm that specializes in cryptocurrency solutions, management, and custodial services, revealed the company has raised $100 million from a slew of....
A cooling-off period is welcomed by traders who were already in moderate shock at the veracity of last week's ten-green-daily-candle surge. Bitcoin (BTC) dipped below $39,000 on Aug. 2 in what traders had long predicted would be a necessary reaction to recent gains.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin needs to hold mid-$30,000 zoneData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $38,915 on Bitstamp Monday.After a successful weekend turned less optimistic, the start of the new week saw mixed activity as Bitcoin bulls....
NFTs are getting enterprises excited about the future of finance, but regulations are still needed to reach mainstream adoption. Nonfungible tokens, or NFTs, are known by the mainstream as digital assets that represent real-world objects such as art, music and fashion, among others. Yet, while most of the world may be enamored by the high selling prices of NFTs launched by celebrities, athletes and other famous individuals, nonfungible tokens are starting to pique the interest of corporations for business use cases.Enterprises embracing NFTs was a point discussed during the Enterprise....
Marathon Digital Holdings, Inc. announced today it will purchase 30,000 additional bitcoin miners for $120.7 million.One of the largest bitcoin mining companies in North America, Marathon Digital Holdings, Inc., announced today it will purchase 30,000 additional Antminer S19J Pros for $120.7 million. The new machines are expected to ship between January and June of next year, per a press release from Marathon. If deployed today, those ASICs would produce about 13.3 EH/s and represent about 12% of the network’s hash rate (as of August 1 the Bitcoin network represents 109 EH/s).The new....
Whilst blockchain space is imminently approaching a full switch to Ethereum 2.0, institutions and individuals continue to take on ETH2 staking. Those who are foreign to the industry may think that POS has not attracted as much attention as it deserves, but in reality, Ethereum staking is on track to become a $40bn medium, changing […]
Ether risks bearish exposure as ETH’s price rises against falling volumes, but three crucial on-chain indicators suggest a dissenting scenario. Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term....
The creation of the blockchain for Bitcoin became the first digital money to solve the double-spending issue without using a trusted authority or central server. Because the internet and blockchain are evolving at such a rapid speed, the e-Commerce and blockchain businesses demand effective marketing and advertising solutions. It can be challenging to find a […]
A new forecast for the global blockchain identity management market expects growth at a compound annual growth rate of almost 71% during 2021-25. A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%.The report grounds its predictions on a study broken down into segments: by sector – e.g., government, healthcare, banking, financial services and insurance (BFSI) – geography, and applications. It was published by the Lyon-headquartered market....
Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Mastercard Wants a Role in All 3 Crypto Areas Payments giant Mastercard provided an update of its cryptocurrency plans during the company’s earnings call Thursday. CEO Michael Miebach explained that his company wants a role in three crypto areas. In addition to....
Payments giant Square has revealed its customers bought $2.72 billion worth of bitcoin in the second quarter of 2021.In a new shareholder letter published Sunday, payments giant Square revealed customers bought $2.72 billion worth of bitcoin in Q2 of this year. Square's total Q2 net revenue was $4.68 billion, up 143% year over year, for a gross profit of $1.14 billion, up 91% since 2020. “As we have offered individuals the ability to instantly send bitcoin free, unlock unique Boosts, direct deposit their paychecks, and more, customers have continued to find increased utility on the....
Saudi’s biggest oil exporter denied claims of involvement in Bitcoin mining activities but continues to bet on blockchain-focused businesses. The Saudi Arabian Oil Company (Saudi Aramco) stirred interest among crypto enthusiasts last year after investing $5 million in blockchain-based oil trading company Vakt. While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin (BTC) mining activities. However, Saudi Arabia’s state oil company released an official statement to dismiss the ongoing rumors around mining Bitcoin. It....
The influencer marketer says prospective buyers can get 10% off the listing price of his house listing if the payment is made in Dogecoin. Crypto as a payment option for real estate continues to gain traction as the adoption of digital currencies for commercial transactions continues to take shape.Scott Paul, founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale, with Dogecoin (DOGE) as an acceptable payment method, according to a report by Fox 13 on Sunday.While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the....