Category: Cryptocurrency News

Data from on-chain crypto information aggregator Glassnode indicates the number of Bitcoin held on centralized exchanges has fallen by roughly 20% in 12 months. The data suggests investors are accumulating BTC and withdrawing them from exchanges into cold storage, creating a supply crunch. #Bitcoin Balance on Exchanges taking another dive pic.twitter.com/F20tohfXsu — William Clemente III (@WClementeIII) March 7, 2021 On March 6, Glassnode also shared data revealing that coins purchased during 2021 were not moved at a loss during the Read more …

 PayPal adding more cryptos, Wall Street embracing Bitcoin and China Stops Mining? These stories and more, this week in crypto. PayPal CEO Dan Schulman said in an interview the company’s crypto forays will expand beyond its “buy, sell, hold” offerings for bitcoin, their mission to advance the utility of digital currencies. PayPal’s crypto unit is currently experimenting with smart contracts, testing Ethereum and other blockchains. The fintech company is also said to be in the process of buying the crypto Read more …

Ultimate Fighting Championship, the world’s leading mixed martial arts, or MMA, organization, has announced an exclusive partnership with Stake.com — a leading crypto-powered online casinos and sportsbook. The partnership announced on March 7, will see Stake become UFC’s “First Official Betting Partner” in Asia and Latin America. However, the deal will exclude UFC’s key market in Brazil. The two firms began working together on March 3  — with Stake’s customers receiving access to unique digital content surrounding the promotional “fight week” Read more …

Ethereum started a strong increase above the $1,650 and $1,700 resistance levels against the US Dollar. ETH price is likely to continue higher towards $1,800 in the near term. Ethereum started a fresh increase above the $1,650 and $1,700 resistance levels. The price is now trading well above $1,700 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair Read more …

Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides. Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels. The price is now trading well above $50,000 and the 100 hourly simple moving average. There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct a few Read more …

Ever since Tesla announced the company held $1.5 billion in bitcoin on its balance sheet during the first week of February, the company’s stocks have dropped over 30%. One analyst says that Tesla’s shareholders would be “very supportive” if the company announced it would sell the bitcoin. Additionally, the shares of Microstrategy’s firm have also dropped considerably during the last 30 days, after multiple bitcoin treasury purchase announcements. Critics Say Tesla Should Sell Bitcoin After Tesla announced to the world Read more …

The native token of leading decentralized exchange Uniswap has surged by nearly 50% this week, ranking UNI as the eighth-largest crypto asset with a $17.7 billion market cap as speculation builds for the exchange’s coming V3 overhaul. Messari currently ranks UNI as the -second-largest Ethereum-based asset by market cap behind Tether, beating out the Chainlink by nearly 50% of its capitalization. UNI broke into the top 10 on March 5, becoming the first native token of a DeFi DApp to Read more …

A non-fungible token, or NFT, depicting an incinerated painting created by renowned British street artist, Banksy, has sold for nearly $400,000. On March 8, the token was sold on NFT marketplace OpenSea for 228.69 Ether — worth roughly $382,000 at the time of writing. The sale followed three days of bidding, with approximately 70 bidders pushing the price up from a starting price of 0.00001 ETH. The NFT of the Banksy piece is now worth 6 figures. Less than four Read more …

The chairman of investment firm Sanders Morris Harris, George Ball, says cryptocurrencies are an effective hedge against currency debasement. In addition, he says that cryptocurrencies are attractive as a small part of portfolios. George Ball Advocates for Crypto as Hedge Against Currency Debasement George Ball talked about bitcoin and other cryptocurrencies in an interview with Yahoo Finance last week. He described two main reasons why cryptocurrencies are now ideal targets for investment by wealthy individuals and institutional investors. Ball is Read more …

After only three days accepting Dogecoin (DOGE) as a form of payment, Dallas Mavericks owner Mark Cuban is predicting the price of the token will eventually hit $1.  In a Saturday tweet, Cuban said customers had used more than 20,000 Dogecoin — roughly $1,018 at the time of publication — in transactions for the Dallas Mavericks, claiming the franchise was now “the largest Dogecoin merchant in the world.” The billionaire predicted that if basketball fans were to purchase 6,556,000,000 DOGE worth Read more …

In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy rich. Saving 0.01 Bitcoin (BTC) might cost only $5,000 today but according to the current global wealth distribution and the digital asset’s limited supply, 0.01 BTC just might be enough to make one a millionaire in the future. According to Credit Suisse’s “Global Wealth Report 2020”, there are 51.9 million individuals with a net worth surpassing $1 million. The index Read more …

On Sunday, March 7, 2021, the price per bitcoin jumped over the $50k handle once again, as the digital asset’s overall market capitalization is around $925 billion. One thing is for certain, there will never be more than 21 million bitcoin and today there’s roughly 18,647,525 bitcoin in circulation. Interestingly, anyone who owns 21 bitcoin or one-millionth of the entire supply is currently a millionaire today. The ’21 Million Bitcoin Club’ Back in 2017, finance publications reported on a number Read more …