Day: January 19, 2022

Google Pay Partners With Cryptocurrency Exchanges To Accept Their Digital Cards

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Another day, another massive company entering the cryptocurrency space. Google is making moves to boost up the profile of their Google Pay service, and, of course, crypto is in the mix. The company hired Arnold Goldberg, ex-Senior Vice President at PayPal, “to run its payments division.” That’s according to Bloomberg, who broke the story.  “The move is part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies, said Bill Ready, Google’s president of commerce. The business, known for the Google Pay system and…

Bitcoin Dominance Increases, ETH’s Market Share Slides, Stablecoin and Smart Contract Coins Rise – Market Updates Bitcoin News

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On Wednesday, the crypto economy of 12,620 coins across 543 exchanges is hovering just above the $2 trillion mark. Ever since the crypto economy’s market slump, bitcoin’s market dominance among all the coins in existence has slowly risen from 37% zone back over the 38% range. Meanwhile, Ethereum’s market dominance has diminished as it has slid from 18.6% to 17.7% since January 6. Bitcoin and Ethereum Dominance Shifts, Top Stablecoin and Smart Contract Tokens Command More Than 44% of the $2 Trillion Crypto Economy Bitcoin’s (BTC) market dominance has increased…

Tom Brady’s NFT platform Autograph raises $170M to scale operations

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The nonfungible token (NFT) marketplace Autograph co-founded by Super Bowl champion Tom Brady has announced it closed on a $170 million funding round. In a Wednesday announcement, Autograph said Andreessen Horowitz, or a16z, and VC firm Kleiner Perkin co-led the $170-million Series B round with contributions from crypto investor Katie Haun’s firm, Nicole Quinn of Lightspeed Venture Partners, and San Francisco-based venture firm 01A. The company said it planned to use the funds to scale its NFT technology and hinted at a series of partnerships aimed at expanding its user…

2 key Bitcoin trading indicators suggest BTC is ready for a 62% upside move

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Bitcoin (BTC) has been below $45,000 for 14 days and is currently 40% below the $69,000 all-time high. This movement holds similarities to late-September 2021, when Bitcoin price flat-lined for 11 days and was 36% below the previous $64,900 all-time high on April 14. Bitcoin price at Coinbase, USD. Source: TradingView To understand whether the current price momentum mimics late September, traders should start by analyzing the Bitcoin futures contracts premium, which is also known as “basis.” Unlike a perpetual contract, these fixed-calendar futures do not have a funding rate,…

A $4.2T Asset Manager Just Said Governments Will Buy Bitcoin

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This episode is sponsored by Nexo, Abra and FTX US. Download this episode On today’s episode, NLW looks at the latest from governments and crypto, including: India’s prime minister calling for global cooperation to “fight” crypto Pakistan’s security agency blocking crypto sites The U.K., Singapore and Spain introducing new rules around crypto advertising See also: Fidelity: ‘Countries That Secure Some Bitcoin Today Will Be Better Off Than Their Peers’ “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill…

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FDIC-Backed Banks Send Stablecoins in USDF First

NBH Bank and New York Community Bank have conducted the first USDF transaction over the Provenance Blockchain. NBH Bank minted the newly-introduced stablecoin and sent it to a customer of New York Community Bank as part of a test run. USDF is a stablecoin offered by the USDF Consortium, a group of FDIC-backed banks which announced its formation last week. “We expect our membership to increase rapidly through 2022 as member banks demonstrate that USDF is a valuable, compliant component of their digital asset strategy,” said USDF Consortium chair, Ashley…

New $75M DeFi Fund Signals Big Investment in Blockchain

Decentral Park Capital, an early-stage investment firm, now with $140 million in assets under management, has launched a brand new $75 million fund to invest in DeFi initiatives. This fund aims to deploy funds to invest in decentralized exchanges, lending protocols, derivatives, structured products, oracles, staking, and middleware infrastructure. The money pouring into decentralized finance and blockchain tools is huge, with hundreds of millions being committed by sophisticated “big money” investors. John Quinn, the firm’s founder, said that returning investors for the fund were mostly family offices, which are private…

Bitcoin Holding Support Above $40K; Faces Resistance at $43K-$45K

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Bitcoin (BTC) continues to hold support above $40,000 as momentum improves on intraday charts. The cryptocurrency is down about 4% over the past week, although multiple oversold readings suggest buyers could remain active into the Asia trading day. As of press time Wednesday, bitcoin was changing hands at $41,822. Still, upside appears to be limited toward the $43,000-$45,000 resistance zone. And $48,000 could present another hurdle for buyers given the series of lower price highs since November. The relative strength index (RSI) on the four-hour chart approached an oversold level…