Crypto
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Solana price set new all-time high above $80 at the weekend
Solana recently made it into the top 10 cryptocurrencies by market cap, while Solana ecosystem projects Audius and Arweave have also been rallying Last week saw many cryptocurrencies make gains, with Bitcoin almost reaching $50,000 and Ether testing the resistance around $3,300. Neither of them, however, came close to regaining their all-time highs from last quarter. Both were outperformed though by Solana (SOL), which has pushed its way into the top 10 cryptocurrencies with a market cap of over $21 billion. After surpassing its May all-time high of $61.44 last Monday, SOL went on to rise by another 35% to set a new all-time high of $83.23 on Saturday. Solana’s innovative Proof of History consensus mechanism means dramatically increased scalability, and with an average transaction cost of ...
Ethereum price analysis: ETH looks to top the $3,400 level again
The cryptocurrency market resumed its rally in the past few days, and more gains could be recorded in the coming hours The cryptocurrency market continued its rally over the weekend, with Bitcoin breaking past the $50,000 mark for the first time since May. Several altcoins also recorded huge wins over the weekend as the slow recovery continues. Ether has maintained its position above the $3,200 level over the past 24 hours. It is currently up by roughly 2% in the last few hours. Ether failed to break the major support level at $3,290 yesterday, leading it to fall to a low of $3,128.82. However, Ether has since bounced back from the slight drop and is now trading above the $3,300 level. The second-largest cryptocurrency could be looking to record further gains over the next few hours. The c...
PayPal introduces its cryptocurrency services to UK traders
PayPal has started the international expansion for its cryptocurrency services in a bid to make it easier for people to access a wide range of cryptos Leading payment giant PayPal has announced that it has started providing cryptocurrency trading services to its customers in the United Kingdom. The company made this known earlier today, adding that UK customers can now buy, sell and hold Bitcoin and a few other cryptocurrencies. PayPal began offering cryptocurrency services to its users last year, making it possible for users to buy, sell and hold a few cryptocurrencies. However, the service was restricted to only PayPal customers in the United States. This is the first time PayPal is expanding its cryptocurrency services to its customers outside the US. The California-based company has mo...
Xiaomi India needs regulatory clarity to embrace crypto, says exec
Xiaomi India, the subcontinent’s branch of the major mobile phone manufacturer, is interested in the cryptocurrency industry but needs regulatory clarity from the government. The firm’s managing director, Manu Jain, said in an interview with The Economic Times, “We will want to wait for all the regulatory things. Of course, crypto is an area, which is extremely interesting, and is the biggest buzzword and is doing exceptionally well. But, we would want to understand more on the regulation side.” Jain’s latest remarks come after the company’s financial service business returned to growth in 2021, seeing a 35% year-on-year surge in the first quarter due to expanding into more financial products. The company has been actively diversifying its products into a full spectrum lend...
Cardano price eyes $3, but ADA chart fractal hints at a potential 40% correction
Cardano blockchain’s native asset, ADA, reached a new record high on Monday as investors pinned hopes on an upcoming smart contracts feature that expects to boost the cryptocurrency’s adoption. The ADA/USD exchange rate topped out at $2.899 around 9:00 am UTC, raising anticipations that it would easily close above $3 in the coming sessions. Many analysts, including pseudonymous chartist PostyXBT, noted that the Cardano token had entered a “price discovery mode.” Meanwhile, David Gokhshtein hinted that ADA/USD might continue its bull run until Sep. 12, the day Cardano is going to integrate a smart contracts feature to its blockchain via the “Alonzo” upgrade. $ADA is just a monster right now. I’m trying to figure out it’s price before 9/12/2021. — David Gokhshtein (@davidgokhshtein) Aug...
Iran to lift Bitcoin mining ban in September
Iran will once again allow Bitcoin and crypto miners to operate in the country from the last week of September. According to a report by Iran’s Financial Tribune, Tavanir, the country’s power generation organization, made the decision known earlier in August. As previously reported by Cointelegraph, Iran’s government banned Bitcoin (BTC) and crypto mining operations back in May. At the time, the decision was reportedly made to prevent miners from overburdening the grid during the hot summer months. Indeed, Bitcoin miners have been blamed for incessant blackouts and power shortages in Iran. Such has been the extent of the problem that Iran reportedly paused electricity exports to neighboring Afghanistan. In April, Chinese investors restarted the country’s largest Bitcoin mining center ...
Chinese province to cut off Bitcoin miners from hydropower stations
Regulators from Yingjiang County in Yunnan, China have issued strict warnings to hydroelectric plants against supplying power to enterprises involved in Bitcoin (BTC) mining. A recent report claimed that the Office of the People’s Government of Yingjiang County issued notice to hydropower plants to strengthen oversight on Bitcoin mining operations. According to the announcement, the power plants have been given until Tuesday, Aug. 24, to delist mining companies from their grid’s “illegal” supply. After the given deadline, the county reportedly plans to “forcibly dismantle” the power supply to Bitcoin mining establishments within its jurisdiction. Additionally, the notice requires hydropower stations to report to China’s National Development and Reform Commission (NDRC) after decommis...
Bitcoin Surges Above $50,000 for First Time Since May
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Derivatives data shows pro traders turning bullish on EOS price
EOS rallied in May after Block.one, a blockchain software firm, announced a $10 billion funding round to build an EOS-based crypto exchange platform called Bullish. The EOSIO development company revealed that it had raised capital from Peter Thiel and Mike Novogratz, as well as hedge fund managers Alan Howard and Louis Bacon. In light of the ‘bullish’ news, the recent $6 local top stands 60% below the $15 high reached on May 12, and this leaves investors with little reason to celebrate. At the moment, retail traders are not comfortable using leverage for bullish positions and professional traders have been neutral-to-optimistic since mid-July. EOS price in USD at Kraken. Source: TradingView Analysts also pointed to a May 2 report commissioned by Block.one that suggested an incr...
Publicly-backed XREX raises $17M to solve dollar liquidity issues through blockchain
Blockchain fintech company XREX has concluded a $17 million pre-A investment round led by a consortium of global investors, underscoring heightened institutional demand for crypto-focused startups. The consortium was driven by CDIB Capital Group, a publicly traded company in Taiwan, and includes investors from major banks and venture capital firms in North America, Europe and Asia. Several other publicly listed companies also participated in the investment round, including SBI Investment, which is a subsidiary of SBI Holdings, ThreeD Capital, E.Sun Venture Capital and Systex Corporation. Black Marble, New Economy Ventures, Metaplanet Holdings, Seraph Group and the Taiwan government’s National Development Fund also participated in the round. XREX said the funds will be used to expand ...
Bitcoin price tags $50K for first time since May
The Bitcoin (BTC) price was back on the offensive late Sunday, touching $50,000 for the first time since May and signaling that the bull market was fast approaching its second leg. The BTC price peaked at $50,270.00 on Bitstamp, having gained 3% on the day, according to Cointelegraph Markets Pro. The largest cryptocurrency has a total market capitalization of $943 billion. The Bitcoin price briefly wicks above $50,000 on Bitstamp : Cointelegraph Markets Pro On-chain metrics recently suggested that a supply squeeze may be imminent, with long-term holders and institutions bolstering their BTC holdings while prices remained at a discount. A series of higher lows and a positive daily close signal have carried momentum for BTC since trading in the low $30,000 range. Meanwhile, the Bi...
Congress has put forward 18 bills on digital assets in 2021 so far
The United States Congress appears to be pushing for greater regulatory clarity regarding crypto assets, having proposed18 bills concerning blockchain and cryptocurrency during 2021 so far. According to analysis published by former Federal Deposit Insurance Corporation regulator, Jason Brett, on August 22, the current 117th Congress has broken from its predecessor in focusing on regulating decentralized assets rather than private stablecoins such as Facebook’s Diem project — formerly called Libra. In July, Congress put forward the Digital Asset Market Structure and Investor Protection Actin a bid to create distinct statutory definitions for digital assets and digital asset securities respectively. Although the bill is yet to pass through Congress, the legislation would mandate digital asse...
