Day: February 4, 2021

Research shows how Elon moves cryptocurrency prices

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The effect of celebrity tweets on the cryptocurrency market has become a topic of study for researchers after a week in which Elon Musk triggered sizable price surges for both Bitcoin (BTC) and Dogecoin (DOGE). Blockchain Research Lab published a paper on Jan. 3 titled, How Elon Musk’s Twitter activity moves cryptocurrency markets. The paper looks at six occasions when Elon Musk tweeted about cryptocurrency and attempts to measure the resultant impact on the trading volume and spot price of the coins in question. “We investigate the impact of Elon…

AppLovin to Buy Adjust in Deal Worth $1 Billion

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The AppLovin press release insists that “Adjust will retain its unique brand and culture and continue to operate as a distinct company”.  California-based tech platform AppLovin is set to acquire Adjust in a deal estimated at $1 billion. AppLovin’s platform helps app developers to market their apps on the global market. It has over 420 daily users on more than 1.5 billion devices per month. Adjust is a Berlin-based startup that was founded in 2012. It provides tools that help developers measure the performance of apps and prevent fraud. The…

What Is Uniswap? A Complete Beginner’s Guide

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Uniswap is a leading decentralized crypto exchange that runs on the Ethereum blockchain. The vast majority of crypto trading takes place on centralized exchanges such as Coinbase and Binance. These platforms are governed by a single authority (the company that operates the exchange), require users to place funds under their control and use a traditional order book system to facilitate trading.  Order book-based trading is where buy and sell orders are presented in a list along with the total amount placed in each order. The amount of open buy and…

China’s blockchain service network announces Cosmos integration

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Tweeting on Monday, the Blockchain-based Service Network — China’s blockchain infrastructure project — announced that it had adapted Cosmos (ATOM) to its Chinese network. The Chinese BSN, unlike the international version, only supports permissioned enterprise blockchains. Thus, the Cosmos integrated to the Chinese-only BSN is an Open Permissioned Blockchain, or OPB, version called Wenchang Chain. The hybrid was developed by Chinese blockchain startup Bianjie which is also the company behind the development of IrisNet. Back in September 2020, IrisNet was among a raft of public networks added to the BSN…

Uphold to Roll Out Crypto Debit Card in Europe by April 2021

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The new crypto card by Uphold will also include some of its supported assets like the US equities, carbon credits, and precious metals. Cloud-based digital money platform Uphold is planning to launch a multi-asset crypto card in Europe with the acquisition of card issuer Optimus Cards UK Limited. The digital money platform will begin to roll-out the crypto-enabled debit cards starting from April 2021. Acquisition of Optimus Cards UK Uphold revealed the acquisition of Optimus Cards and plans to launch its crypto cards in an announcement published on the 2nd of February. JP…

Total crypto market cap hits new all-time high of $1.13 trillion

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The combined value of all cryptocurrencies broke a new record of close to $1.139 trillion at 8:50 a.m. UTC on Feb. 4 . While long-term analysts often eye Bitcoin’s solo chances of eating into gold’s total market cap, the combined value of all cryptos together is currently more competitive with the total market cap of silver, at just under $1.5 trillion. Having broken the $1 trillion milestone early in Jan. 2021, today’s crypto market is seeing greater distribution of growth between the top two assets in the game: Bitcoin (BTC) and…

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South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time – Taxes Bitcoin News

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According to a report, the South African Revenue Service (SARS) has sent out audit requests to taxpayers asking them to disclose their cryptocurrency trades and purchases. Taxpayers that fail to correctly disclose their income from bitcoin or other cryptocurrencies may be “liable to a fine or imprisonment for up to two years.” SARS Tracking Non-Compliant Taxpayers In the report, which is based on statements made by Tax Consulting South Africa, cryptocurrency traders are now required to state the purpose for purchasing the digital assets. In addition, crypto traders must submit…

S&P 500 Ends in Green for Third Day in Row, GOOGL Tops 7% Gains on Wednesday

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As the Reddit-fueled frenzy slows down, investor confidence in the broader market seems to be restored again thanks to the tech giants like Amazon and Alphabet whose earnings report suggests phenomenal growth during Q4 2020. The US stock market remained upbeat on Wednesday, February 3, as the S&P 500 ended in green for the third day in a row. This broad equity benchmark closed 0.1% higher at 3,830.17 levels. Investors have been keenly watching the corporate earnings report of big tech giants this week. Google’s parent company Alphabet Inc (NASDAQ:…

Ethereum Price Hits ATH Close to $1700 Fueled by Institutional Investor Stack Up

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Although the price of Ethereum is slightly down from its all-time high at the time of writing, it is a long way up from its lowest price point of $0.4209 attained back in October 2015. Ethereum (ETH), the second-largest cryptocurrency by market capitalization has soared to a new all-time high (ATH) of $1,689.19 according to CoinMarketCap. The impressive feat has pumped the market capitalization of Ethereum to $191,305,111,850.59, an 8.19% increase over the past 24 hours. Ethereum’s new gains have sparked a lot of commentary in the crypto space with…