Monthly Archives: February 2021

Bitcoin’s Musk effect: Research shows how Elon moves cryptocurrency prices

If researchers are correct, cryptocurrency holders should hope that Elon Musk doesn’t get bored of Bitcoin anytime soon. 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 […]

More info

China’s blockchain service network announces Cosmos integration

Cosmos becomes the first public blockchain to be added to the China-only version of the Blockchain-based Service Network. 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 […]

More info

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

The 2021 crypto bull market has notched another record, continuing a streak of unprecedented performance. 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 […]

More info

South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time

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 […]

More info

Finance giant SBI expands cryptocurrency lending service to XRP

After launching its crypto lending service in late 2020, SBI has now added support for XRP. Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade. According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days. “VC Trade Lending is a service that allows customers to rent out their crypto assets to the company and receive […]

More info

‘Ur welcome’ — DOGE soars after Elon Musk returns to Twitter… to shill Dogecoin

A sudden reappearance by the Tesla and SpaceX CEO has only one focus: a meme-based altcoin now masquerading as the Lion King. Meme-based cryptocurrency Dogecoin (DOGE) gained 25% in minutes on Feb. 4 after a fresh endorsement from the world’s richest man.  DOGE/USD 1-minute candle chart (Bittrex). Source: TradingView DOGE in new “Elon pump” Data from Cointelegraph Markets and TradingView showed DOGE/USD rebound past $0.05 per token on Thursday, edging towards new all-time highs. Musk, who is known for name dropping Dogecoin and Bitcoin on Twitter but […]

More info

Sweet Launches Broad-Scale NFT Solution in Partnership With Bitcoin.com

PRESS RELEASE. February 4, 2021 – New York, New York – Sweet, in partnership with Bitcoin.com, has announced the launch of a highly-scalable Non-Fungible Token (NFT) platform for the broad distribution of digital collectibles and digital merchandise. Leveraging Simple Ledger Protocol (SLP) and the Bitcoin Cash network (BCH), blockchain digital collectibles provide consumer and entertainment brands with a previously-unseen opportunity to drive new revenue, create one-of-a-kind consumer experiences, and increase consumer engagement to unprecedented levels. Flexible Distribution With Sweet’s solution, brands have the flexibility to bring digital […]

More info

Ethereum posts new highs as DeFi gas fees go through the roof

With Ethereum’s fees rocketing to new highs amid Ether’s rally into new price highs, the fees associated with using some complex DeFi protocols has increased above $1,000. Ethereum’s gas fees are again spiking to record highs, rendering many decentralized finance protocols unusable for casual investors. After increasing roughly 20% in the last 24 hours, average Ethereum transaction fees are now sitting at a record $17.67. With many DeFi projects requiring the execution of complex smart contracts, there are reports fees associated with using protocols requiring complicated transactions […]

More info

SBF says he’s amassed a $10 billion fortune in just three years in crypto

FTX exchange CEO Sam Bankman-Fried is worth an estimated $10 billion according to a New York Magazineinterview. Alameda Research and FTX exchange founder Sam Bankman-Fried has amassed a fortune, mostly via crypto assets over the past few years according to New York Magazine. SBF, as he is known in crypto circles, spoke to the publication about his journey into the crypto industry since 2018. During the interview he estimated his own net worth at $10 billion, mostly in illiquid assets. The former Wall Street quant trader got […]

More info

Report: Bitcoin Overtakes Gold in the U.S. as the 4th Most Popular Investment Vehicle

Research by Bitflyer released today indicates the growing popularity of the cryptocurrency as an American household investment option. But not in Japan. Stocks Remain the #1 Investment Vehicle Bitflyer, a Japanese crypto exchange, released a research paper that dives into cryptocurrency sentiment and investment trends in the U.S. and compares them to the Japanese market. The most glaring difference between American and Japanese as far cryptocurrency acceptance is indicated through a simple question presented to survey participants: While 76% of Americans view cryptocurrencies positively, 78% of Japanese […]

More info
1 2 3 4 5