Bitcoin Support Will “Fundamentally Bolster” Crypto “Utility”

Bitcoin adoption metrics are reaching all-time highs, and the crypto asset’s price has been on a steady ascent higher since PayPal announced it would be supporting cryptocurrencies. But according to the company’s CEO, their support will “fundamentally bolster” the “utility” of cryptocurrencies by making them more accessible to the mainstream masses. Here’s how the payments giant’s support of crypto could boost the Bitcoin bull run and help usher in a new era of cryptocurrency adoption. PayPal To Bring “Fundamental Transformation” To Crypto Utility Policies and company ethos change from CEO…

Dow Spikes as McConnell Snubs Trump With Stimulus Deal U-Turn

The Dow Jones rallied 680 points on Wednesday. Election volatility saw huge gains for healthcare and tech stocks. Hopes of fiscal stimulus are alive again after Mitch McConnell’s constructive comments. Election volatility was back mid-week, as the presidential election swang in the direction of Joe Biden. Weak U.S. data didn’t stop the Dow Jones from rallying over 700 points as hopes of fiscal stimulus are on the rise again. Dow Jones Rises Despite Weak Data All three major U.S. stock market indices rallied on Wednesday, as the Nasdaq led the…

4 Charts Showing Why Financial Advisers Should Care About Bitcoin

The traditional 60/40 portfolio (balancing equities and fixed-income assets) hasn’t been battle-tested for these unprecedented times. Central bank balance sheets are soaring, and interest rates are at record lows. This means investors are reaching far and wide for yield – oftentimes without a reliable hedge.  Advisers should consider talking to their clients about diversification, particularly in bitcoin. The cryptocurrency offers high returns that are uncorrelated with traditional asset classes. This diversification benefit means that bitcoin could be a key hedge against downside risk.  Damanick Dantes, CMT is a macro trader…

Record $816M in Bitcoin leaves Binance — Are whales preparing for a rally?

Binance saw its biggest Bitcoin (BTC) outflow in history on Nov. 3, according to data from CryptoQuant. A total of 58,861 BTC were withdrawn on a single day, equivalent to $816 million. The significant spike in outflows could suggest two things. First, it might show that whales could be bracing for a rally in the near term. Second, an over-the-counter deal could have occurred, causing whales to move their funds. Bitcoin outflows on Binance. Source: CryptoQuant.com On-chain activity surges highlight Bitcoin whale movements In addition to the unprecedented increase in…

Terra Virtua creates NFT collectibles ecosystem for the ComiCon crowd

Digital collectibles platform Terra Virtua announced Nov. 4 that it had completed a $2.5 million private funding round, attracting support from funds such as Woodstock, NGC Ventures, and AU21 Capital. The investment raised will be used to further develop what the company describes as the first “mass-market” nonfungible token, or NFT, ecosystem. Aside from being a marketplace for provably rare digital collectibles, the platform has a strong focus on the social side of the fandom scene. As such it provides a number of customizable virtual spaces where users can show…

Ethereum fees declining as DeFi markets cool

The DeFi bubble seems to be slowing down in the last months of 202, with fees and confirmation times retreating back to less formidable levels. “ETH fees are way down suggesting the DeFi madness has abated for now,” Josh Olszewicz, also known as CarpeNoctom on Twitter, told Cointelegraph.  “DeFi cooling off, BTC HR [hash rate] way down (-16% difficult adjustment),” he also said, referring to the situation on Bitcoin’s (BTC) network. Bitcoin’s network action, however, is not related to the drop in Ethereum fees, based on Olszewicz’s opinion. “Just happens to…

Bitcoin Price Clears $14,000 As Presidential Race Conclusion Nears

Fear, uncertainty, and doubt cause volatity to spike, but that doesn’t always result in downside. Case in point, is Bitcoin spiking even higher, all while the entire world is on the edge of its seat waiting to see who wins the Presidential race. With emotions running as high as possible, the cryptocurrency cleared resistance at $14,000 with ease, and could at this point be well on its way towards retesting $20,000 or beyond. Bitcoin Takes Out $14,000 After Polls Come To A Close Yesterday was Election Day in the United…

Blockchain Bites: Ethereum 2.0’s Deposit Contract Goes Live as ETH Miner Revenues Dwindle

Predictive markets rollicked with U.S. ballot counting. Two more crypto payments cards are expected to market. Nearly $1 billion worth of BTC moved from a long-dormant wallet potentially connected with the shuttered Silk Road exchange.  Top shelf Staking beginsEthereum 2.0’s deposit contract is now live, as of 15:00 UTC. According to developer Afri Schoedon, the deposit contract (a bridge between the forthcoming proof-of-stake (PoS) blockchain and the current proof-of-work (PoW) mainchain) is the first physical implementation of Eth 2.0 for everyday users. On a practical level, Ethereum stakers can now…