Bitcoin crashes under $30,000

Bitcoin crush under 30000 usd

Bitcoin dropped under $30,000 for the first time since the end of January on Tuesday 22 June. The world’s leading cryptocurrency has fallen over 27% in value since last Tuesday, when it briefly went above $41,000. The price decline has accelerated in the last two days after China’s central bank urged the country’s financial institutions to cut all money flows to cryptocurrency markets, labelling crypto assets a threat to the safety of the Chinese people’s property. While Bitcoin itself is not illegal in China, mining and trading activities are, and…

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Digital Yuan can be set up on Ethereum

Digital Yuan Ethereum

Yao Qian, Director of the Science and Technology Regulatory Bureau of the China Securities Regulatory Commission, has shared his views on the future of the digital currency developed by China. One might think of Yao Qian as an SEC commissioner. Furthermore, with a friendly attitude towards cryptocurrencies, he’s been equated to ‘crypto mom’ Hester Peirce. Since the inception of the digital yuan back in 2014, Qian has been involved with the CBDC. In a recent conference, he has revealed that there will be more to the digital yuan than a…

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Vitalik burns $6.7B of Shiba to reward generous hodlers

Vitalik SHIBA INU (SHIB)

Vitalik Buterin has burned nearly half of Shiba’s supply in response to the “generosity” of the ‘dog token communities.’ Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB). In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.” “I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have…

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City in North Dakota now accepts cryptocurrency for utility payments

City of Williston

A city in North Dakota is joining the cryptocurrency adoption race in the United States by starting to accept crypto payments. Hercules Cummings, finance director for the City of Williston, announced Thursday that the city administration has partnered with crypto payment firm BitPay to start accepting cryptocurrencies like Bitcoin (BTC) as payment for utility bills. “We have partnered with BitPay, the largest virtual payment merchant whose partners include Microsoft and Facebook. We are the first municipality in the State of North Dakota, and the third in the nation, to offer…

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PayPal Is Building A Super App To Offer Customised Services

PayPal Mobile Cash

PayPal Holdings Inc. is working on building a super app, encompassing payments, finance, crypto-currencies and shopping services all in one “personalised” app. Paypal reported a net profit of $1.6 billion in the first quarter of the current calendar year, up by 28% year-on-year, it said in its financial results. “Over the coming year, we will accelerate our customers’ digital engagement through the rapid innovation of our digital wallet and merchant commerce platform,” said Dan Schulman, President and Chief Executive Officer, PayPal Holdings Inc during an earnings call. “It will be…

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Ethereum price shoots past $3,000 for the first time

Ethereum cz money

Ether, the second-biggest cryptocurrency, was worth $207-per-token just one year ago. Bitcoin and Dogecoin both hit new all-time highs in April, but May appears to be Ethereum’s month. The cryptocurrency, second biggest in the world and the most widely used, hit $3,000 for the first time on Sunday. As is customary with headline-grabbing cryptocurrencies, it’s been a meteoric rise for Ethereum over the last year. It’s price on this day one year ago? Just over $207. The cryptocurrency now has a marketcap of just under $350 billion. It’s been growing…

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MicroStrategy now pays its board of directors in bitcoin

Bitcoin payment

The Nasdaq-listed company said non-employee directors would receive all fees for their service in bitcoin instead of cash. “In approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy,” said MicroStrategy. MicroStrategy further said that it would convert directors’ fees from the U.S. dollar to bitcoin at the time of payment via a payment processor and deposit into directors’ digital…

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The number of Bitcoin ATMs in the US rose 177% over the past year

Bitcoin ATM Installations Growth

Since March 1, 2020, the number of new Bitcoin ATMs installed worldwide is nearing 10,000. According to the latest data from Coin ATM Radar, the current number of machines stands at 16,835, a strong 57.5% increase, or 9,683 new machines, as compared with 7,152 last year. Back in Nov. 2020, Cointelegraph had reported a striking year-on-year increase of 80%. As previously, the vast majority of machines continue to be located in the United States, where 81% (13,699 out of 16,835 machines globally) are installed. Within the U.S., growth has been…

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Blockchain firm aims to build crypto city in Nevada desert

Nevada Las Vegas

CEO Jeffrey Berns says the smart city could incorporate digital currency payments for goods and services as well as records on the blockchain. Blockchain incubator and investment firm Blockchains LLC is stepping up its plans to build a smart city in the Nevada desert east of Reno. In an interview with the Associated Press released Saturday, Blockchains CEO Jeffrey Berns said he had asked the state of Nevada to let him form a local government on the 67,000 acres the firm owns in Storey County. If his petition is successful,…

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Bitcoiners use mining rigs as heaters as temperatures drop

bitcoin green house

Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some novel uses, including employing the miners to warm…

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Bitcoin hits $24K

Bitcoin chart 2020

Bitcoin hits a fresh all-time high of $24,210 on Coinbase as volatility ensures the weekend bulls are not yet done. Bitcoin (BTC) set a new all-time high on Dec. 19 as markets continued to deliver surprises in weekend trading. Data from Cointelegraph Markets and Tradingview showed BTC/USD just eclipsing its record level set this week, reaching $24,210 on Coinbase before reversing. Volatility was high as the previous all-time high of $23,777 just gave way before resistance kicked in once again. According to exchange orderbook data, sellers are ready at $24,000,…

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Germany legalizes digitized securities

Germany blockchain

Europe’s largest economy is looking to pave the way for securities trading on the blockchain. The German word for securities is wertpapieren, or “papers of worth,” which may soon be as outdated as nocturnal traders saying they’re burning the midnight oil. Per a Reuters report from Wednesday, Merkel’s cabinet had passed a new law that will end the requirement to have a paper certificate for sale of a security, overtly looking to advance blockchain trading within the country. German Finance Minister Olaf Scholtz reportedly said, “The paper certificate may be…

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Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

BTC-USDT daily chart TradingView

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500. The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance. A breakthrough the pennant would also suggest that the $19,000 level could now function as solid support and if bulls are able to flip the…

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PayPal CEO: Our platform will ‘significantly bolster the utility of cryptocurrencies’

PayPal cryptocurrency wallet

PayPal’s chief executive believes cryptocurrencies are on the verge of mainstream adoption as more businesses and consumers flock to “digital payments and digital forms of currency.” In an interview with CNBC, PayPal CEO Dan Schulman said the pandemic has accelerated the shift to digital forms of payments. PayPal wants to be at the forefront of the ongoing digital transformation. Schulman said the “use of cash has declined precipitously” amid the pandemic, adding that “40 to 70% of consumers no longer want to handle cash.” PayPal is not just making it…

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New Huawei smartphone will feature a hardware wallet for digital yuan

HUAWEI Mate 40 Pro

The Mate40 series will reportedly enable dual offline transactions and allow users to control anonymity. Huawei has announced that its forthcoming Mate40 smartphone series will include an integrated hardware wallet for China’s central bank digital currency, the digital yuan. This will be the first smartphone to feature such a wallet, according to an official Huawei post on Chinese microblogging website Weibo on Oct. 30. The post also promises that users will be able to control and protect their anonymity and perform dual offline transactions. These enable mobile phone users to…

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