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In brief
Bitcoin has gained 275% to its price since the March crash.
Today, Bitcoin jumped by 8% following an embrace from PayPal.
All signs point to a bull run. But this isn’t 2017 all over again.
Bitcoin hodlers are having themselves a day, and they have PayPal to thank for it, it seems.
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Per guidance released Wednesday evening, the Commodity Futures Trading Commission (CFTC) is advising businesses trading in crypto derivatives to hold customer funds very carefully.
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The EOS price has broken out from a descending resistance line but failed to move upwards afterward. Nevertheless, the short-term chart shows a bullish pattern, from which a breakout is likely.
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In brief
Celsius Network, a crypto storage and finance app, has lowered the minimum loan threshold to $500.
Celsius Network offers crypto-backed loans to customers at annual interest rates starting at 1%.
Celsius Network has grown from 90,000 customers in April to more than 200,000 today.
In brief
Wirex is the first crypto-native partner for Mastercard.
The company claims it has signed up more than 10,000 customers within hours of opening its waitlist for the new crypto debit card today.
Wirex plans to begin UK distribution in November, and the US soon after.
As Bitcoin (BTC) breaks the $12,000 resistance, derivatives markets are flirting with overly excessive bullish sentiment. The futures basis and the options 25% delta skew both reached the same levels seen now on October 12 when BTC briefly tested $11,700 but failed to maintain momentum.
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PayPal (PYPL) reached $215.87 on Oct. 21, a few dollars past its previous all-time high of $212.38, set on Sept. 2, 2020, according to data from TradingView.
This price action came shortly after the payments company announced that it would soon be including crypto assets on its platform.
CasperLabs has raised $14 million in a private validator token sale, with over a dozen investors participating in a round led by Digital Strategies. The company expects to launch its public mainnet in the first quarter of 2021, followed by a public token offering which will exclude U.S. investors.
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On Wednesday, the U.S. Securities and Exchange Commission announced the end of its lawsuit against Kik Interactive.
The Canadian messenger app fell afoul of the U.S. regulator for failing to treat its sale of KIN tokens as a securities offering.
On Oct 20, the Bitcoin (BTC) price moved above the $12,050 resistance area, regaining all of the losses stemming from the early September fall.
Despite this move, it’s not yet clear whether this is a new upward move or an upwards correction.
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