Tag: Bitcoin

Bitcoin Futures Open Interest Hits $19 Billion, Harsh Intraday Swings, Analyst Says ‘Fresh Rally’ Expected
Crypto News

Bitcoin Futures Open Interest Hits $19 Billion, Harsh Intraday Swings, Analyst Says ‘Fresh Rally’ Expected

The start of the week saw digital currency markets drop significantly in value, as billions of dollars were shaved off the entire crypto economy’s capitalization. A weekly report from Luno and Arcane Research shows February 23 captured the third-largest bitcoin daily trade volume in crypto history, as spot market volume saw $18 billion change hands. Moreover, crypto derivatives are surging as bitcoin futures open interest commandeered $19.1 billion on Tuesday.Volatile Bitcoin Price Fluctuations Sees Intraday Swings Close to 20% for Two Days In a RowAfter bitcoin (BTC) touched an all-time price high on Sunday, hitting $58,354 per unit, bitcoin’s value slipped below the $50k handle touching bottom at $44,846 per coin. The loss between these two price ranges saw over 23% shaved off BT...
Moneygram Halts Using Ripple Due to SEC Lawsuit Over XRP Cryptocurrency
Crypto News

Moneygram Halts Using Ripple Due to SEC Lawsuit Over XRP Cryptocurrency

Moneygram has announced that it has suspended using Ripple’s platform due to the lawsuit against Ripple Labs and its executives by the U.S. Securities and Exchange Commission (SEC). Last year, the company earned $50.2 million from Ripple for using the platform.Moneygram Stops Using Ripple’s PlatformMoneygram International announced Monday that it has suspended trading on Ripple’s platform. The announcement came as part of the company’s earnings report for the fourth quarter and full year 2020. For the year 2020, Moneygram recorded total revenue of $1,217 million; its money transfer revenue was $1,105 million.As part of its first quarter 2021 outlook detailed in the report, Moneygram wrote that it “is not planning for any benefit from Ripple market development fees in the first qu...
Mexican Companies Are Willing to Join the Bitcoin Bandwagon in the Wake of Tesla’s Investment, Says Expert
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Mexican Companies Are Willing to Join the Bitcoin Bandwagon in the Wake of Tesla’s Investment, Says Expert

Bitcoin-buying frenzy among major companies could hit Mexican firms soon, as interest keeps increasing across the country. An expert is expecting that local businesses will follow the same path as mainstream U.S.-based companies such as Tesla.Current Bitcoin Performance Could Make Companies Rethink Their Business ModelsDuring an interview with El Economista, Mauricio Hurtado, managing partner of Price Waterhouse Cooper Mexico, says Mexican companies’ current appetite to acquire cryptos like bitcoin (BTC) is seeing bullish steam.Despite the uncertainties that cryptos have, current crypto market performances create enough confidence to rethink the current business model, said the expert. Hurtado added on the matter:This occurs because there is a significant number of players who ...
Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High
Crypto News

Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High

The price of bitcoin touched an all-time high surpassing the $50k handle on February 16, 2021. Cryptocurrency advocates celebrated the milestone as bitcoin has spiked more than 200% during the last 90 days and 400% against the U.S. dollar for the entire year.Bitcoin (BTC) has crossed the psychological $50,000 zone after fighting the region for more than 24 hours. The leading cryptocurrency, in terms of market capitalization, has gained more than 154% since the all-time high in December 2017. At around 7:37 a.m. (EST) bitcoin (BTC) hit $50,603 per unit on Tuesday.Bitcoin (BTC) touched an all-time high at $50,603 per unit on Tuesday, February 16, 2021.While BTC captures the $50k mark, the crypto asset’s dominance index is only 61% today. This is due to ethereum (ETH)...
US Government Won’t Allow Corporates to Keep Replacing Dollars With Bitcoin, Warns Investment Advisor
Crypto News

US Government Won’t Allow Corporates to Keep Replacing Dollars With Bitcoin, Warns Investment Advisor

Dan Nathan, the founder of Risk Reversal Advisors, says that the U.S. government will not keep allowing corporations like Elon Musk’s Tesla to replace dollars with bitcoin. They won’t “let the dollar fall away from being the reserve currency for the world,” which could happen if corporations keep replacing dollars in their balance sheets with bitcoin.US Government Will Not Let Bitcoin Replace Dollars, Says Risk Reversal Advisors’ ChiefDan Nathan offered his view on the future of bitcoin in an interview with CNBC last week. His comments followed the news of Elon Musk’s Tesla investing $1.5 billion in bitcoin and planning to allow the cryptocurrency as a form of payment for its products in the near future.Nathan is the principal of Risk Reversal Advisors, which offers consulting s...
Twitter Stock Jumps 20% Following Reports the Company Is Weighing the Possibility of Adding BTC
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Twitter Stock Jumps 20% Following Reports the Company Is Weighing the Possibility of Adding BTC

Buoyed by reports that Twitter has been studying the possibility of adding bitcoin to its balance sheet, the company’s stock surged to a new 52-week high of $73.18 on Feb. 12. Before the surge, the stock had been trading at just under $60 on Feb. 9. At the time of writing, Twitter’s market capitalization stood at $57.20 billion.Telsa’s BTC Move an InspirationReports of Twitter’s possible bitcoin acquisition follow Tesla’s announcement that it had acquired BTC worth $1.5 billion. Tesla’s acquisition is fueling speculation that more large corporations may follow the electric carmaker in adding BTC to their reserves. Already, Mastercard has announced it will be supporting cryptocurrencies in its payments network.Also, as the Twitter stock responded positively to comments by one comp...
Anonymous DeFi Project Core Announces New Token Project
Crypto News

Anonymous DeFi Project Core Announces New Token Project

Core, an anonymous and hyped DeFi project, has announced Delta, a new product and token. Core says this will “close the gap” between options trading and spot markets by “using a combination of liquidity standards to deploy an on-chain options layer with scalability in mind.”Anonymous Developers Behind Delta Project Will Work Towards Promoting Healthier MarketCore was initially launched in September 2020 after successfully raising $60 million in locked liquidity. It’s currently preparing to launch a new product and Delta token, Coredex, which will bring a variety of new derivatives and liquidity to the DeFi crypto market.The DeFi market is becoming a popular marketplace among anonymous developers. Earlier this week, a group known as Anon Powered announced the launch of its DeFi pl...
2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K
Crypto News

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin (BTC) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase sinc...
Bitcoin Marketplace Keepchange Suffers Data Breach
Crypto News

Bitcoin Marketplace Keepchange Suffers Data Breach

A bitcoin company is the latest victim of a data breach incident, where hackers managed to access customers’ full names and email addresses. Moreover, attackers sent withdrawal requests from the company customers’ accounts to addresses belonging to the hackers.Marketplace Warns Users of Phishing AttacksAccording to the announcement, Keepchange clarified that attackers stole part of their customers’ data, including trade counts, total traded amount, and passwords in the hashed form.Although the company stated it’s “very unlikely” the hackers can retrieve the password from the hashed form, they recommend users change passwords.However, the bitcoin (BTC) company clarified one of their control subsystems thwarted the hacker’s attempts to withdraw money from the user’s accounts affe...
Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal
Crypto News

Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal

India’s Finance Minister Nirmala Sitharaman has answered some questions regarding cryptocurrency in Rajya Sabha, the upper house of India’s parliament. The questions include measures the government plans to impose on the crypto industry.Finance Minister Nirmala Sitharaman Answers Crypto Questions in ParliamentThe Indian finance minister answered four questions Tuesday in Rajya Sabha regarding the “trading in cryptocurrency,” including measures outlined in the crypto bill.Minister Sushil Kumar Modi asked the minister of finance whether “a ban was imposed on bitcoin trading in 2018,” which was later lifted by the supreme court, whether other cryptocurrencies are still banned, and whether “despite the ban, illegal trading of cryptocurrency is still being done on a large scale.”To ...