Day: February 18, 2021

Ethereum Sets $1,900 ATH but Bulls Target Is $3,000

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Ethereum has set a new ATH. In the last 24 hours, the second largest coin has climbed above $1,900. The digital asset is slowly inching closer to a much revered $2,000 price tag. Little stands in the way of Ethereum doubling its 2017 high. After showing strong resilience at $1,800 and setting news ATH, Ethereum now looks set for a breakout. As Ethereum (ETH) price nears $2,000, it is becoming clear that doubling the 2017 high could be easier than expected. Among the best performers in the crypto market is…

How Crypto Transforms Prediction Markets

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Prediction markets are speculative platforms where traders can place bets on the outcome of future events, such as “Will Joe Biden win the 2024 presidential election?”. If their bet was correct traders earn money but if they are wrong they lose the wagered amount. Users obviously want to make money from these markets, which include PredictIt and Iowa Electronic Market. But the reason the type of prediction market has drawn so much academic interest is that they have a solid track record of making correct predictions, sometimes even predicting the…

New Report Indicates Tesla Used Coinbase to Purchase $1.5B Bitcoin

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Coinbase is seeking to tap the entire Fortune 500 market, a move that would drive Bitcoin (BTC) market price astronomically high. The second-largest cryptocurrency exchange by trading volume around the world Coinbase is reportedly the lucky facilitator of the $1.5 billion worth of Bitcoin purchase by Tesla Inc (NASDAQ: TSLA). The report by media outlet TheBlockCrypto indicates that Tesla used Coinbase institutional investors’ custodian capabilities to purchase Bitcoins during the first week of February. Reportedly, Coinbase has emerged as the best option for institutional investors to access the crypto industry,…

‘Insane’ Bitcoin price consolidation means $48K is the new BTC support level

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Bitcoin (BTC) has seen “unreal” price consolidation since the start of February 2021 — and fundamental support is now at $48,000. According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other. $35,000 Bitcoin? So last month Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a “reset” in February. “The amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch…

Mastercard Launches Prepaid Card Linked to Bahamas Sand Dollar CBDC

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Mastercard is a leading force in today’s digital payment ecosystem as the firm helps to drive the development of CBDCs beyond the issuance of prepaid cards. American multinational financial services firm Mastercard Inc (NYSE: MA) has partnered with Island Pay to roll out prepaid cards linked to the world’s first Central Bank Digital Currency (CBDC), the Bahamas Sand Dollar. According to a press release shared by the company, the cards will afford citizens of the Caribbean nation greater flexibility in how they utilize the digital currency. The Central Bank of…

Binance Coin Explodes 45% on Heels of Bitcoin Bull Run; What’s Next

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Binance Coin (BNB/USD) emerged as the best-performing asset among the top ten cryptocurrencies this week as traders measured its potential against a flurry of adoption-friendly updates. The fifth-largest cryptocurrency, which serves as a settlement token in the Binance exchange and its other ventures, surged to a new record high of $196.96 during the early European session Thursday. That brought its net gains this week to roughly 45 percent. Meanwhile, the upside move pushed its year-to-date profits to a staggering 434 percent. Binance Coin has climbed close to 3,000 percent from…

Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments

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The Swiss canton of Zug has started accepting tax payments in cryptocurrency. In a previous announcement in 2020, the Swiss authorities said that, from February, citizens and companies based in Zug will be able to pay up to 100,000 CHF (around $111,300) of their taxes in either bitcoin or ether. No partial payments in cryptocurrency will be accepted. Zug has been dubbed “Crypto Valley” over the many industry companies drawn to the jurisdiction over its friendly blockchain and crypto regulation.  “As the home of the Crypto Valley, it is important…

BNB Price Up 36%, Hits New ATH, Ripple’s XRP Loses 6th Spot to Binance Coin

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The last time XRP dropped to that position was in June 2014, when it fell below the meme coin Dogecoin. Ripple’s XRP has dropped further down the crypto ladder as the Binance coin (BNB) has overtaken it, sending the digital coin to the 7th position on the crypto ladder. At the time of writing, BNB price is over 36% up, trading at $183.26. The coin is hitting one record level after another and its market cap has topped $28 billion. The last time XRP dropped to that position was in…