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The crypto markets are cheering PayPal’s decision to allow its customers to use cryptocurrencies to shop from its vast merchant network. PayPal also revealed that U.S. account holders will be able to buy, sell, and hold cryptocurrencies in the PayPal app.
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The Central Bank of the Bahamas has officially launched a national digital currency.
Minted by the country’s monetary authority, the launch of the Caribean island nation’s new central bank digital currency (CBDC) was announced via Twitter on Tuesday.
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USDC, The US dollar-pegged stablecoin run by crypto exchange Coinbase and payments platform Circle, today announced Solana as its fourth “official” blockchain, after Ethereum, Algorand and Stellar.
Upon the announcement, the market cap of USDC jumped up by $53 million to $2.
Key Takeaways
Cardano remains dormant as its price action is capped by the 200 and 50-twelve-hour moving averages.
On-chain metrics shows that breaking above resistance is would not be easy.
A significant amount of Bitcoin’s (BTC) total supply has not moved for 10+ years, according to data from cryptocurrency analytics data provider Glassnode.
During this decade-long interim, 1.8 million bitcoin (of the current 18.5 million supply) have been locked in dormant Bitcoin addresses.
Decentralized finance has quickly risen to prominence, largely driven by the fact that there is over $11 billion of total value locked in the sector.
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What feels better than watching Bitcoin (BTC) skyrocket on bullish mass-adoption news? For hodlers, there aren’t too many events in life more satisfying than a trip to the moon — and now the rest of the world seems to be catching on.
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Massive spikes in stablecoin and decentralized finance (DeFi) transactions have seen Ethereum (ETH) overtake Bitcoin (BTC) in total value transaction volume.
The Ethereum network has also suffered multiple network congestions owing to this uptick.
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In brief
ConsenSys announced a comprehensive partnership with Protocol Labs.
The partnership is meant to integrate Protocol Labs’ Filecoin with every aspect of Ethereum.
Filecoin, a decentralized storage network, launched on October 15.
In brief
US President Donald Trump has stated that he’s “not a fan” of Bitcoin.
The Trump administration has not pursued regulation of cryptocurrencies, although agencies are dealing with crypto’s impact.
Continued inflation and economic struggles could push people towards Bitcoin.