Day: October 21, 2020

Price analysis 10/21: BTC, ETH, XRP, BCH, BNB, LINK, DOT, LTC, ADA, BSV

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Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments. The crypto markets are cheering PayPal’s decision to allow its customers to use cryptocurrencies to shop from its vast merchant network. PayPal also revealed that U.S. account holders will be able to buy, sell, and hold cryptocurrencies in the PayPal app.  The company plans to extend this service to a few other countries in the first half of 2021. PayPal’s decision has significantly increased the reach of cryptocurrencies. Now many of the…

$10 Billion in BTC Reserves: Companies With Bitcoin Treasuries Command Close to 4% of the Supply

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The web portal bitcointreasuries.org now shows close to two dozen firms with a large number of bitcoin reserves. Currently, the aggregate total bitcoin held in reserves by the 23 companies listed is roughly 785,999 BTC worth well over $10 billion dollars. This past August the billion-dollar firm Microstrategy announced it purchased 21,454 BTC for around $250 million. Then the Nasdaq listed company bought another 16,796 BTC and Microstrategy raised its reserve status to 38,250 bitcoins. Following Microstrategy’s lead during the first week of October, the firm Square Inc. revealed it…

10% of Bitcoin’s supply has been untouched for over 10 years: Report

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A significant amount of Bitcoin’s (BTC) total supply has not moved for more than 10 years, according to data from cryptocurrency analytics data provider Glassnode. During this decade-long interim, 1.8 million Bitcoin (of the current 18.5 million supply) has been locked in dormant Bitcoin addresses. Its cumulative value amounts to more than $23 billion at the time of publication, according to data from Coin360. BTC dormant over 10 years. Source: Glassnode A large portion of these coins may belong to Bitcoin’s mysterious creator, Satoshi Nakamoto — who disappeared from the community in…

Villanova University to Send Private Ethereum Blockchain Into Space to Test Inter-Satellite Communication

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Villanova University’s College of Engineering is sending a private Ethereum blockchain into space to test whether distributed ledger technology (DLT) can help satellites exchange data.  Working in collaboration with the non-profit Teachers in Space, Villanova’s engineering school secured a flight for its blockchain on a Firefly Aerospace rocket slated for launch on Nov. 20 from the Vandenberg Air Force Base in California. The rocket will carry a “Serenity” satellite that will include Villanova’s private blockchain mounted on a Raspberry Pi, a credit card-sized single board computer.   Hasshi Sudler, an adjunct…

Baby Steps or Handcuffs? Crypto Pros Assess PayPal’s Bitcoin Play

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Call it Crypto Lite – for now. Fintech giant PayPal confirmed its long-awaited move into digital assets Wednesday, offering its 346 million users the chance to buy, hold and sell bitcoin, bitcoin cash, ether and litecoin, with the blessing of New York state regulators.  While the cryptosphere acknowledges the bullishness of a firm the size of PayPal making a move into the space, there was also concern that the new service does not allow bitcoin or other cryptocurrencies to be withdrawn or deposited. Once you buy the coins, they stay…

Bitcoin now more popular than sex

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What feels better than watching Bitcoin (BTC) skyrocket on bullish mass-adoption news? For hodlers, there aren’t too many events in life more satisfying than a trip to the moon — and now the rest of the world seems to be catching on. Bitcoin, it seems, is outstripping sex — at least when it comes to Reddit users — which may come as little surprise to those of us who spend time on the “front page of the internet.” Source: Reddit. Reddit enjoys a massive audience of 440 million users and…

Bitcoin on-chain transfer volume exceeds 4M as price rises to 14-month high

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As Bitcoin’s price broke through resistance at $12,000, its on-chain transfer volume exceeded 4 million and set a 14-month record high. Source: Glassnode. Unlike exchange volume, on-chain metrics cannot be easily faked or manipulated. To put this in perspective, the total current supply of Bitcoin (BTC) is 18.5 million. This means that in 24 hours, users transacted 22% of Bitcoin’s total current supply. Source: Glassnode. If we examine the 30-day average for this metric, we discover that Sept. 30 marked a three-year high, and the overall trend appears even more prominent. Source:…

Crypto Options Exchange Deribit to Require ID Verification for All Users by Year End: Report

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Following a similar move by one of its rivals, popular cryptocurrency options exchange Deribit will require all of its users to be ID verified before the end of the year, according to a report by The Block.  The largest crypto options exchange by trading volume will ask its users to submit a government issued photo ID, such as a passport or driving license, as well as a proof of residence, under its revamped know-your-customer (KYC) program.  Source

Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K

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Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing $400 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions. BTC has gained…

What You Need to Know About Jae Kwon’s Cosmos (ATOM) Blockchain

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The blockchain network Cosmos is unlike any other that has been created so far, being the first to introduce byzantine-fault tolerant (BFT) algorithms in the blockchain sector and offering scalable solutions across many digital decentralized protocols. What is Cosmos? With its unique approach to the market, Cosmos is simply put an ecosystem of blockchain networks, and is even dubbed the “Internet of Blockchains” by developers. It is not just one simple blockchain, but rather it is comprised of many independent parallel chains. Through Cosmos, different blockchains can communicate with each…