LATEST CRYPTO NEWS
NEWS AND UPDATES
The latest news and updates on Crypto from around the web.
- NFTs could mark a resurgence in art galleries
- SEC registrants seek DeFi and physically-backed Bitcoin ETF approval
- HSBC CEO backs CBDCs against crypto and stablecoins
- 10% of early-stage startups working on blockchain: GSER 2021
- Bitcoin miner Genesis Digital Assets raises $431M
- Bitcoin bounces again after briefly losing $40K support — Watch these BTC price levels
- Nifty News: Snoop's $17M NFT collection, movie sold as NFT, QAnon espouser sells tweets
- Commodity strategist predicts Bitcoin ETF could get the nod in US next month
- Evergrande crisis: Buy the dip or bail? Pundits weigh in
- Bitcoin mining estimated to represent 0.9% of global carbon emissions in 2030
- ‘Extreme fear’ as Bitcoin falls below $40K ... and then bounces
- Key Bitcoin options 'fear' indicator reflects traders' regulatory concerns
- CFTC commissioner: agency doesn’t have enforcement resources without Congress
- Pundits say crashing floor prices and sell volume signal that ‘the NFT market has died’
- Sommelier partners with Mysten Labs to launch Cosmos smart contracts
PayPal has recently set a record daily volume of more than $300 million in crypto resources as clients were so disposed towards exchanging digital currencies. Previously, the one-day record in the volume was recorded on January 11 at $239.52 million, and this was the day when Bitcoin lost around $10 in its cost.
The itBit Trading Volumes Cross $50 Million
The recent data by itBit reveals that investors are looking towards buying the Bitcoin when it reaches the bottom. These volumes can compel the competitors to offer similar services. itBit, the currency exchange that provides liquidity to Paypal, has been trading above $50 million in volume as per the statistics.
Also, in April, Deutsche Bank predicted to its clients that Crypto volume of Payments Giant might even reach $20 billion by the end of this year. This is also a PayPal-controlled platform that has been newly introduced for crypto exchange.
More About Payments Giant
Payments Giant is a crypto exchange platform that lets you trade for as low as $1. It has over 3.5 million users, and is expected to reach its peak in crypto volumes.
It, however, charges a minute fee for every exchange you do. Also, it does not allow you to transfer your currency to other platforms. Yet, its owners claim to introduce this feature in some time soon.
Apple recently listed a job posting for a “Business Development Manager — Alternative Payments.” The job listing was posted on May 26, 2021, as spotted by CoinDesk.
The job description required a candidate to “Lead the partnership program with key players in the Alternative Payments ecosystem, covering the complete process of partner identification, business case development and socialization, partnership negotiation, contract signing and execution, go to market launch and continued partnership value growth.”
The description did not point out any specific products or deals that Apple would be indulging in, but it did highlight some alternative payment methods that Apple is interested in. More than five years of experience required in Digital wallets, BNPL (Buy Now Pay Later), fast payments, and cryptocurrency do show what Apple is looking forward to.
However, this job posting does not mean that Apple is about to launch its own cryptocurrency anytime soon, like Facebook Diem. Although Apple’s CEO Tim Cook publicly discussed the vision of a world with no physical cash and digital payments only, he shunned down the idea of private groups launching their own currencies.
In 2019, an Apple Pay Executive stated that Apple sees a ‘long-term potential’ in cryptocurrency. Still, it isn’t currently focused on that. Nevertheless, Apple taking an interest in crypto is evident with the new job posting, and it would back up the entire crypto concept.
Although not for the launch of its own currency, the new position in Apple might lead to new features that allow crypto as a payment method on the App Store or a Digital Wallet app that would allow iPhone users to save their digital currencies. It might also launch Apps that will enable users to buy or sell cryptocurrencies. Whatever it may be, Apple is clearly marking its way into the crypto market.
After a ban call by a Dutch official, Bitcoin has dropped down its value by 6.10%.
BTC is trading at $35,050, which is $2,200 down from its previous value.
After knocking out Bitcoin through a crypto ban, Holland is also urging other states to do the same. A Dutch official recently urged the Netherlands to ban Bitcoin by publishing an essay titled “The Netherlands must ban Bitcoin.”
The Dutch Bureau for Economic Affairs and Climate Policy Director Peter Hasekamp also stroke an attack on Bitcoin. He said that Bitcoin holds “no intrinsic value and is only valuable because others may accept it.” He stated that Fiat currency is more valuable than digital currency. The latter has no means of payment, store of value, or unit of account.
On the contrary, El-Salvador lately accepted Bitcoin as a legal currency, shooting its price by $7000. However, Holland has undoubtedly won the second round of the Bitcoin battle.
Bitcoin has been going down the trend line the entire month, with no significant upscale in its price. Even with El-Salvador supporting it, its value could not cross the set mark.
On the 10th of June, the prices rose to $35,780; however, it has been falling since then. As long as its value remains below the trend mark, it is in danger of returning past week’s gains.
Indeed, this isn’t the first time an official has asked for a Bitcoin ban, and it would happen again too. What matters is how the market reacts when the U.S gets up in a couple of hours.
If Bitcoin manages to clear the trend line resistance above, it will again be crossing $40,000 soon.
WHAT IS CRYPTOCURRENCY?
Cryptocurrencies are digital currencies that are not operated by government systems. Unlike physical currencies, cryptocurrencies are operated by a decentralized computer system. Hence, they are safe to buy and use.
The first cryptocurrency, i.e., Bitcoin, was established in 2009. It is the most valued cryptocurrency type with a worth of over US $33000. There are, however, more than 5000 types of cryptocurrencies in the market. If you’re planning to invest in cryptocurrencies, you need to remain informed about every type completely. Keep yourself updated with all the crypto news with a click below on our website.
BUY AND SALE Crypto
WHY CHOOSE CRYPTO?
If you’re still unsure whether crypto’s worth investing in, have a look at some of its benefits that would make you wonder why you’re still out of it.
As soon as you buy a cryptocurrency, you can instantly trade it off with almost no barriers around the globe.
You can automate your cryptocurrency purchase by setting up a schedule, regardless of how drastically its prices change.
SAFE AND SECURE
Cryptocurrency is encrypted with a blockchain system. Only you have the private key to your wallet; thus, it’s the safest currency that you can ever own.
Cryptocurrencies have only increased in value since 2009. Now, for e.g. Bitcoins’ value is over US$39000. However, cryptocurrencies are highly volatile, and one needs to pay attention and invest with caution.
COVERED BY SECURITY
Crypto transactions are stored on a public ledger. Thus, they are always secured, and nobody can reverse or forge the transactions.
Cryptocurrencies are based on a decentralized computer system. Therefore, they are not run by any government or other organizations that could play with the prices. Also, the economic situations of any country cannot affect their value.
Some Interesting Facts!
Did you know that the world still doesn’t know the real mastermind behind cryptocurrency? Satoshi Nakamoto is just a pseudonym for the creators of the first cryptocurrency, i.e. Bitcoin. Well, now cryptocurrency has over: