Four bar associations across the United States have now issued opinions stating they are not opposed to cryptocurrency or digital currency as a form of payment for an advance or services rendered. The District of Columbia Bar Association (DCB) became the most recent, releasing an ethics opinion which states that lawyers in the nation’s capital could accept cryptocurrency as a form of payment as long as the fee is reasonable and objectively fair to clients. According to the DCB, any Read more …
Bitcoin is consolidating above the $9,100 level against the US Dollar. BTC could start a strong increase towards $9,500 as long as it is above the 100 hourly SMA. Bitcoin is currently trading in a contracting range below the $9,300 resistance. The price is holding the $9,000 support and trading above the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $9,160 on the hourly chart of the BTC/USD pair (data feed from Kraken). Read more …
Singapore-based blockchain firm Pundi X has integrated PayPal support for its point-of-sale device ‘Xpos.’ PayPal is the first mobile payment gateway to be integrated onto Xpos, and users from more than 30 countries can now accept funds via the payments processor. The integration will take place over two stages, with U.S-based merchants who use Xpos able to apply for PayPay-based keyed transactions from July 1. A PayPal app is expected to be integrated onto all Xpos devices within two weeks Read more …
A new metric from German site The Blockchain Center suggests that the long awaited ‘flippening’ — where Ethereum overtakes Bitcoin — is more than halfway complete. The newly created ‘Flippening Index’ currently stands at 53.3%. Backtested, it shows this is the first time the index has topped 50% in 18 months — the highest point since March 2019 when it was around 56.2%. Of course, this latest version of ‘the flippening’ has completely altered the traditional definition. It originally referred Read more …
Bitcoin has been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end. While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening. Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal Bitcoin Has “Weakening” Bullish Momentum: Analyst According to Brave New Coin analyst Josh Olszewicz, the Ichimoku Cloud indicator shows that Bitcoin has “weakening bullish Read more …
The Australian Securities Exchange (ASX) has further delayed its switch to blockchain after public lobbying from key stakeholders. According to a June 30 update from the ASX, the exchange has officially delayed the rollout of Distributed Ledger infrastructure to replace its current system for processing equity transactions. ASX will now release the project — the replacement for the Clearing House Electronic Subregister System (CHESS) — in April 2022, a one-year push from its most recent timetable. The exchange cited a Read more …
It’s no secret that the crypto industry is rife with scams, hacks, and other nefarious activities, with the decentralized and private nature of many digital assets being conducive to these types of undertakings. The latest group to fall victim to one of these scams is a school within the University of California system, who paid an online gang $1.14 million to gain access to files that were encrypted due to malware that spread throughout their computer system. UC San Francisco Read more …
Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 issued about 5.8 million “units” at a price of $1.45 each. Each unit is comprised of one common share. From this, investors have the option to buy another share for $1.80 between now and December 2021. The Alberta-based miner said Read more …
Peer-to-peer Bitcoin (BTC) trading has seen rapid growth in recent months, with the African continent now the second-strongest region in the world for P2P volume behind the U.S. Africa was the sole region to produce an increase in seven-day P2P trade this past week — with sub-saharan African trade posting its seventh all-time high for weekly trade in nine weeks. Since early January, the sub-saharan African has overtaken the Asia-Pacific, Eastern European, and Latin American regions to emerge as the Read more …
Earlier today Cointelegraph reported that “Bitcoin (BTC) price recorded its strongest second quarter performance in history” despite a startling crash to $3,750 on March 13. Data from Skew also shows that Bitcoin currently has a quarter-to-date return of 42.39% and the digital asset remains the top-performer for 2020 with a 27.31% return. Macro assets year-to-date returns %. Source: Skew Data from on-chain analytics provider glassnode also showed that since the Black Thursday crash, the total number of Bitcoin whales rose Read more …
It’s been an incredibly strong year for altcoins thus far. Versus Bitcoin, many have outperformed. As reported by Bitcoinist previously, the small-cap, medium-cap, and large-cap altcoin indexes from crypto exchange FTX have outperformed Bitcoin since the start of 2020. Bitcoin vs. low-cap, mid-cap, and large-cap altcoins chart shared by cryptocurrency trader Ceteris Paribus (@Ceterispar1bus on Twitter). Yet a prominent analyst expects this trend to reverse in 2021. He went as far as to say that Bitcoin dominance — the percentage Read more …
Bitcoin’s ongoing bout of sideways trading has offered little insight into its mid-term outlook. New data now shows that Bitcoin’s price action throughout 2020 has been driven by a significantly limited number of market participants, which may explain why the crypto has been ranging between $9,000 and $10,000 for over six weeks. According to one analytics firm, only 27% of BTC’s circulating supply has moved in 2020. This means that the remaining 73% has remained dormant, with active traders utilizing Read more …