Day: December 23, 2021

Bitcoin price flatlines as XRP hits $1 with ‘massive’ altcoin move set for 2022

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Bitcoin (BTC) stuck rigidly to its tight range on Dec. 23 as price action continued to contradict strong buying activity. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hodlers busy accumulating Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to hold $49,000 after hitting ten-day highs. The pair remained stuck in a trading zone only around $4,000 wide, a key factor fuelling bets that a “short squeeze” would hit over the holiday period. Against declining volatility, data reinforced conviction among investors, with the supply being bought up at roughly three…

Retailers to drive crypto payments adoption: Survey

Crypto payments might be the innovation companies are looking for. A recent survey by payment network Mercuryo revealed that 57% of respondents believe accepting cryptocurrency payments would give companies a competitive edge. Among the other standout statistics, more than a third of businesses reported that customers had asked to pay in Bitcoin (BTC), Ether (ETH) or another digital currency. Hot on the heels of news that Dogecoin (DOGE) will trial for Tesla merchandise payments and WhatsApp began testing payments with Meta’s Novi wallet, the Mercuryo report highlights that retail payment…

BNB Burns Will Now Better Reflect DeFi Activity on Binance Smart Chain

Burning BNB, which involves sending tokens to an inaccessible wallet, effectively removes them from circulation forever. It was initially introduced as a mechanism to accrue value and grow Binance. But as the broader crypto market grew and Binance Smart Chain was launched, BNB found uses beyond simply being an exchange token. It is the third-largest coin by market value, according to CoinMarketCap data, behind only bitcoin and ether. It was trading at about $530 in European hours on Thursday morning. Source

Cryptocurrency Funds Look Back on a Phenomenal Year

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While the launch of the ProShares Bitcoin ETF galvanized the cryptocurrency market as the first U.S. bitcoin ETF (albeit a futures-based one), even before its launch, cryptocurrency funds as a whole notched some notable milestones globally over the past year. According to Bloomberg Intelligence data, the number of crypto-tracking investment vehicles worldwide doubled to 80 from just 35 at the end of 2020 and assets soared to US$63 billion, compared to just US$24 billion at the start of this year. Considering that ETFs in the U.S. alone are now valued…

Paraguay moves a step closer to regulating digital currency

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On Dec. 17, 2021, the Senate of Paraguay approved a cryptocurrency bill introduced in July. The provisions, which define several key terms including virtual assets and call for licenses to mine cryptocurrencies, will now be sent to the Deputy Chamber for further deliberation. Senator Fernando Silva Facetti, the bill’s sponsor, revealed that it’s passed in the Paraguayan Senate after a contentious debate. According to the senator, the law also aims to foster the growth of crypto mining activities by using the surplus electricity generated in the country. (1/3) Today, after an…

Dubai to Create Crypto Zone, Binance Joins Effort – Bitcoin News

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The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World Trade Centre to Host and Regulate Crypto Space Authorities in the United Arab Emirates plan to establish a special zone at the Dubai World Trade Centre (DWTC) from which businesses dealing with digital assets will be able to offer their products and services. The government of Dubai announced that…

Crypto exchanges to toss up a Hail Mary at Super Bowl 2022

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Crypto exchange platforms Crypto.com and FTX will run advertising commercials during Super Bowl LVI on Feb. 13. Both exchanges have been working tirelessly to establish their brands and penetrate the United States market.  Super Bowl advertisements are known to be very costly, with rates going above $5 million for just 30 seconds. Some sponsors are even willing to pay up to a record high of $6.5 million for the same air time. Recently, Crypto.com also announced a partnership with Angel City Football Club, a soccer team that’s expected to play…

Crypto exchanges aim for home run at Super Bowl 2022

Crypto exchange platforms Crypto.com and FTX will run advertising commercials at the Super Bowl LVI 2022 on Feb. 13. Both exchanges have been working tirelessly to establish their brands and penetrate the United States market.  Super Bowl advertisements are known to be very costly, with rates going above $5 million for just 30 seconds. Some sponsors are even willing to pay up to a record high of $6.5 million for the same air time. Recently, Crypto.com also announced a partnership with Angel City Football Club, a soccer team that’s expected…

Top 5 bullish Bitcoin stories of 2021

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In terms of price action, cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are ending 2021 with a whimper, confounding expectations for an end-of-year blow-off top scenario. A six-figure Bitcoin by December became a consensus trade among many analysts, investors and market observers who were expecting the flagship cryptocurrency to replicate its previous four-year cycle.  Although Bitcoin is still a long way off from that coveted milestone, exponential markets require a longer-term view. When we zoom out, we see that Bitcoin continues to print higher highs and higher lows on the…