Tag: Support

BCH Price Jumps to One-Year High Fueled by Spiking Social Interest, EDX Markets Support

The Bitcoin Cash network was forked from the original Bitcoin blockchain in July 2017 and aimed to serve as a payment network. Despite early optimism, the blockchain’s traffic is dwarfed by Bitcoin’s transaction numbers. Some $92 million in BCH has been transferred in the last 24 hours, compared to $11 billion in BTC, blockchain data by BitInfoCharts show. BCH is still 95% down from its $4,355 all-time high price reached in December 2017, according to CoinMarketCap. Source

Coinbase Credit lends Hut 8 $50M to support Bitcoin treasury

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The Canadian Bitcoin (BTC) mining company, Hut 8 Mining, has secured a credit facility from a subsidiary of the United States-based cryptocurrency exchange, Coinbase. Hut 8 officially announced on June 26 that it entered into a $50 million credit agreement with Coinbase Credit as lender. The credit facility involved Hut 8’s subsidiary, Hut 8 Holdings, as the borrower. According to the announcement, the loan proceeds will be used for general corporate purposes. The credit facility provides a $15 million term loan that is expected to be funded at or subsequently…

Old-School Bitcoin Hard Fork Altcoin Pumps by 82% This Week Amid Support From New Wall Street-Backed Exchange

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An old-school Bitcoin (BTC) hard fork altcoin is making headlines this week after a listing on a brand new crypto exchange sent the asset’s price soaring. Bitcoin Cash (BCH), which was spun off from Bitcoin in 2017, is up 41% in the past 24 hours and more than 62% in the past week. The 20th-ranked crypto asset by market cap is trading at $195.51 at time of writing. BCH was one of four crypto assets to receive support from the newly launched digital asset marketplace EDX Markets. The new exchange…

Bitcoin price data suggests bulls will succeed in holding $30K as support this time

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Bitcoin (BTC) has been trading above $31,000 after its 24.3% rally between June 15 and June 23, which caught many off guard. For bears, that meant facing $165 million in short futures contract liquidations, but the unexpected rally also brought some degree of discomfort for investors using Bitcoin derivatives. Inflation remains the biggest question mark for traditional markets, a point highlighted by the recent 50-basis-point interest rate increase by the Bank of England, followed by similar moves in Norway and Switzerland, leading to the highest cost of capital in over…

Zora Launches Layer 2 Blockchain to Support Creator Communities

The Zora Network is secured by Ethereum and built on Optimism’s tech stack. According to a press release, the new network will make minting on its platform “faster, cheaper and more enjoyable” with a focus on gas efficiency and scalability. According to documents online, minting an NFT through the network “costs less than 50 cents.” Source

Wallet providers introduce BRC-20 token support despite market drawdown

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On June 21, self-custody wallet provider BitKeep announced support for BRC-20 tokens issued on the Bitcoin network. With the feature, users can view, rank and transfer BRC-20 tokens and nonfungible tokens (NFTs). Developers also stated BRC-20 in-wallet swaps are coming “in [the] future.”  Last month, cryptocurrency exchange OKX also announced support for BRC-20 assets via the OKX Wallet app. Many centralized and decentralized exchanges have also rolled out BRC-20 support.  Although bullish on its outlook, Trust Wallet currently does not support BRC-20 tokens. They also cannot currently be stored on…

Crypto payment solution Ramp expands on-ramp service, adds support for 40 fiat currencies

Ramp, a financial technology company specializing in crypto infrastructure, has announced a significant expansion of its platform’s compatibility, adding 40 new fiat currencies.  According to a June 21 announcement, the expansion is set to allow users to more easily transact with various digital and traditional currencies across borders while benefiting from favorable conversion rates. With its latest expansion, Ramp hopes to empower individuals across 150 countries to convert between cryptocurrencies and 43 fiat currencies. Expanded currency support includes a mix of developed and emerging markets, including the Bermudian dollar, Costa…

Lack of bipartisan support on crypto regulation could make US ‘less attractive’ to firms: Moody’s

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The investors’ service of credit ratings agency Moody’s has reported that without support from United States lawmakers on both sides of the political aisle for legislation focused on digital assets, investors and companies could turn to other crypto-friendly jurisdictions. In a June 20 report, Moody’s pointed to key differences in the way Democrats and Republicans have handled crypto-focused legislation in the U.S., specifically competing language in a bill on stablecoins and a bill aimed at providing a comprehensive framework for digital assets. Many of the issues between lawmakers concern whether…

Binance announces support for USDC deposit and withdrawal via Arbitrum

Binance crypto exchange has announced support for direct deposit and withdrawal of the USDC stablecoin via the Arbitrum network. Arbitrum USDC deposits and withdrawals  Following the integration of USD Coin (USDC) on the Arbitrum One network, on June 16, Binance, the world’s largest bitcoin (BTC) trading venue, has added support for direct USDC deposits and withdrawals via the Arbitrum network. However, it is important to note that Binance users can only initiate withdrawals for USD Coin (USDC) on the Arbitrum One network once there are sufficient deposits. Binance will not…