There are lots of online exchanges where you can buy Bitcoin all over the world, and some of the most popular and trusted exchanges include –
Kraken is one of the most trusted cryptocurrency exchanges on the market, and is our preferred cryptocurrency exchange.
Kraken is a US-based cryptocurrency exchange, founded in 2011.
The exchange provides cryptocurrency to fiat trading, and provides price information to Bloomberg Terminal. As of 2020, Kraken is available to residents of 48 U.S. states and 176 countries, and lists 40 cryptocurrencies available for trade. Wikipedia
Chainlink And AP Partner Up, Link Cost Readies For A 50 Percent Advance
Chainlink has had a tough time after a crash in its price on the 19th of May and has been down since. But LINK is coming out of this mess and looking to cause an upswing.
Recently, Associated press announced they would leverage Chainlink blockchain. They will store their most critical information in Chainlink’s blockchain. Based on their most recent official statement, their developers will be tasked with creating applications to be used to access the data through a Chainlink node.
Users will be able to use the data to customize on-chain systems, games or to automate trading activities. AP said that they believe blockchain is critical in our everyday lives.
On the same note, the Billionaire Bunny Club is currently using the Variable Random Function, another one of Chainlink’s features, to airdrop random NFTs with the help of a random digit generator. Consequently, the entire process will become somewhat fraud-proof, transparent and exciting to users.
In the meantime, LINK’s price is preparing for a surge. Its price has been below 50 of Fibonacci retracement level of $33.2 for the last 5 months, but is now working to rise above this benchmark. Recently, Chainlink zoomed past the supply zone, between $27.01 and $29.80, indicating a change in the market dynamics.
Provided LINK remains well above the $29.80 mark, it will always be bullish. However, a close well above $33.2 will be a confirmation of its uptrend, which may kickstart a shift towards a 70.5 percent Fibonacci retracement at about $41.35.
Shiba Inu Registers A Fresh All-Time High, Becomes More Valuable That Richest Person In Africa
Meme coin Shiba Inu, a Dogecoin spinoff, managed a new high, $0.00003995, barely a few a day ago, after a 41 percent surge in under 2 days.
This now make the cryptocurrency the 13th most sought after token with a market capitalization of about $15.2 billion. Forbes says it is now richer than the wealthiest person in Africa, Aliko Dangote, whose net worth is around $13.6 billion.
This surge is attributed to the current bullish market trend that began nearly a fortnight ago, which buoyed the token’s value by more than 26 percent. From then on, Shiba Inu has had a week-long hold at about $0.00002796.
The token’s present standing positions it as the 3rd most valuable cryptocurrency, right after Dogecoin. But it may be a while before Shiba Inu is able to surpass Dogecoin whose market cap is at $32.6billion.
Shiba Inu has a huge circulating supply, about 395 trillion. It jumped 40 percent after Tesla’s Elon Musk posted a tweet about Shiba’s puppy, Floki.
Bitcoin Hits Highest Weekly Close, October Margins Surpass 40 Percent Mark
Cryptocurrency bitcoin hit its highest weekly close yet, at $61500, yesterday. Over the month of October, estimates show that the firm made at least 40 percent in profits after September’s 7 percent loss.
Bitcoin soared well above the $62000 threshold last Monday, well ahead of its much-awaited U.S Bitcoin futures exchange fund to be listed on the New York Stock Exchange. Market analysist believe that Bitcoin might just be the tool the cryptocurrency sector needs to onboard the next lot of investors.
Bitcoin seems to have a strong presence in the market considering that 20 other altcoins are having a difficult time gaining. Only three, Binance, meme and Shiba coins have managed about 4 percent gains. Polygon, Polkadot and Binance have managed to rally approximately 20 percent against the dollar in the past week.
There is mounting speculation relating to an impeding sell-off post BTC EFT approval, but that hasn’t done much to change BTC’s market value which currently stands at $60000. Galaxy Digital, Valkyrie, ARK Invest are just a few of the entities expected to roll out Bitcoin EFTs. Analysts say Bitcoin’s momentum will continue for the rest of October.
Polkadot recently revealed that it is working on developing itself further, this is according to its founder Gavin Wood, who also announced a $777 million fund to support the firm’s growth. This announcement came ahead of the firm planned parachain auctions via twitter.
This means that the firm may fund the development using approximately 19 million DOT, which converts to about $777 million that is currently in its cash reserves. He noted that money will be disbursed through community governance initiatives.
Wood also hinted at a number of areas that they are looking to focus on. The project will support part of the community’s goals including building, educating and improving Polkadot’s ecosystem and its various other beliefs.
Although the project said it would fund this initiative using the cash in its reserves, this is subject to council approval, which currently sits 13 members. The outcome of an upcoming vote will determine how the project will spend the resource.
This announcement came way ahead of an upcoming parachain auction, and indication that the key target here is development of the network’s Parachain ecosystem.
Cardano Plans to Launch dAppStore for Certified DeFi Applications
Cardano’s development firm, Input Output (IOHK), made an announcement regarding the forthcoming store designed for decentralized apps on its network.
The platform, dubbed Plutus dAppStore, will give developers an opportunity to upload their Cardano applications. This will, in turn, make it a lot easier for the community to know about these apps.
IOHK announced this news in a Wednesday blog post. Cardano’s head of product and smart contracts, Shruti Appiah, said the new platform will help to solve two key issues.
First is the lack of a formal discovery mechanism for dApps operating on the network. The second challenge is the lack of a centalized approach for all dApps that are present in a given ecosystem for end-users.
Once the Plutus dAppStore is launched, it will permit Cardano users to analyze the whole ecosystem of dApps operating on the protocol through one single storefront.
Cardano’s highly anticipated Alonzo hardfork, which introduced smart contract capability to the blockchain, was launched earlier this month, but not without a hitch.
According to Long Nguyen, founder of Minswap, the main issue resulted from the well known concurrency. What this means is that numerous different agents are able to connect with an identical smart contract at the exact same time.
Luckily, developers are working on projects expected to solve this challenge. Meanwhile, IOHK intends to display a preview of the platform’s (Plutus dAppStore) prototype in the upcoming Cardano Summit. This event is scheduled to take place on the 25th and 26th this month.
Important to note though is that Cardano has not given a specific date for when it plans to launch Plutus dAppStore.
As such, it’s not clear just how fully fledged DeFi applications will flock to the Plutus dAppStore platform.
Coinbase Places High Stakes on Music Events, Funds The Governors Ball and Two Impending EDC Festivals
Coinbase, the renowned cryptocurrency, is gaining a lot of traction in the music festival sponsorship space.
Just recently, the company entered into an agreement, where it pledged to sponsor three grand events taking place this fall.
The first occasion is The Governors Ball happening in New York this upcoming weekend. The other two are The Electric Daisy Carnival festivals being held in Las Vegas in October, and in Orlando in November.
Wavemaker, which is ranked the second biggest media agency network globally, brokered these deals on behalf of Coinbase.
These are the very first grand events that Coinbase has ever sponsored exclusively in the crypto industry.
In all three festivals, the crypto intends to inaugurate an on-site non-fungible token (NFT) gallery.
The galleries will be held primarily to mark the 10-year run that each of these festivals has had. As a result, the galleries will be showcasing highly collectible unique NFTs which will be a vivid representation of memorable moments from previous years.
The NFTs will be up for sale the entire weekend; for interested attendees to buy.
Furthermore, live moments from the festivals happening this year will be displayed in real-time and made accessible for fans to buy.
Coinbase was asked about its intentions in sponsoring the said festivals. In response, Maggie Jones, Wavemaker’s associate director, said that they wanted to get people thrilled about the crypto world.
In particular, they aim to persuade more people to download the Coinbase app and create accounts with the crypto.
Not many crypto firms have tapped into the potential of the music festival space. By sponsoring these events, it’s evident that Coinbase is also trying to establish its position in this niche.
High Stakes as Bitcoin Keeps a Close Eye on the September Options Expiry Worth $3B
Grand crypto options exchanges are expected to pay bitcoin options contracts worth billions of dollars on coming Friday.
According to analysts, this event is not expected to have a significant impact on bitcoin. However, it’s important to draw your attention to the fact that this cryptocurrency has come under intense pressure this week, following the macro risks and regulatory issues.
Based on data collected by Skew, the sum of options contracts that are set to expire on Friday is about 73,700, and they hold a value of $3.14 billion. Of this figure, almost 50,000 make up call options while the remaining ones are puts.
Industry pioneer Deribit is scheduled to settle over 85% of the total open interest.
LedgerPrime’s CIO, Shiliang Tang, explained what would happen if bitcoin were to break above the $50,000 mark.
In his opinion, this would necessitate traders who had sold their call options to consider hedging. Hedging is simply the practice of purchasing cryptocurrency in the futures or spot market, with the aim of minimizing losses resulting from a short call position.
If traders take this action, this will exert upward pressure on the crypto, boosting its gains. But, this is very unlikely to occur, taking into account Bitcoin’s steep 11% decline to $42,000 in recent times.
There are about 537 open put positions and 3,500 open call positions at the $50,000 hit. The most prominent for the September 24th expiry seems to be the $64,000 call option. Its open interest stands at 4,400.
Option expiries have had a very bad reputation in 2021. In particular, Bitcoin seems to always experience magnified price fluctuations in the days preceding and shortly after monthly settlements.
Coinbase has worked out a deal with the U.S. Homeland Security, granting the government ability to utilize the crypto’s services for the purpose of examining American citizens’ data.
Based on the official documents, the Immigration and Customs Enforcement (ICE) made a payment of $1.36 million for licensing costs to Coinbase Analytics software.
This is one of the most intriguing deals for Coinbase, which has a reputation of teaming up with the U.S. government in different projects.
The official documents have not revealed the specific details or nature of information that Coinbase will be analyzing or sharing with the government.
But according to the data collected by SAM.gov, there is no other vendor- other than Coinbase- that’s capable of offering the services needed by the ICE.
As mentioned earlier, this is not the first time that Coinbase is getting into bed with the U.S. government. In the past, the exchange has struck a deal with the U.S. Secret Service that saw the licensing of its Analytics tools.
This particular deal, which was estimated at $183,750, extends up to May 2024, and it gives the Secret Service free will to utilize the exchange’s forensic tools.
Coinbase has come under fire for partnering up with the U.S. government several times in the past. In spite of this, its CEO has made it clear that he does not have any remorse for the company’s actions.
Brian Armstrong, Coinbase CEO, reassured customers through a tweet saying that the firm would only send information that’s already available for viewing on the blockchain.
Following the array of negative comments that were posted in response to his tweet, Armstrong decided to delete the post.
One thing that Coinbase has clarified is the fact clientele data is dealt with separately from the analytics tool. As such, there’s no reason to be concerned.
GlobeNewswire, which is ranked one of the biggest newswire distribution networks, published a false report on Monday morning. The network revealed that Walmart planned to start accepting payments in the form of Litecoin cryptocurrency.
Following the announcement, Litecoin surged by an incredible 20%. However, its price took a nosedive after the revelation that this wasn’t the case.
Walmart put out a statement to clarify on the matter. In its report, the giant retailer said that it wasn’t aware of the press release issued by the network.
More importantly, the company does not have any relations with Litecoin, and as such, any further inquiries should be addressed to GlobeNewswire.
In its defense, GlobeNewswire noted that there had been a fake account that released the news. It also mentioned that investigations into the account were underway.
Based on data collected by CoinMarketCap, Litecoin is presently the 15th biggest cryptocurrency globally.
The platform came to fruition in 2011, under the leadership of Charlie Lee, a former employee of Google. Lee used the Bitcoin protocol to launch it, with the aim of providing much faster transactions and lower fees.
Interestingly, Litecoin’s official twitter account also issued the fake news. Later on, the company said that the individual behind this doing was just “too eager”,
Meanwhile, the cryptocurrency sector has come under harsh criticism from U.S. regulators, but this is not too surprising.
Motley Fool carried out a survey that revealed that the majority of investment scammers have used crypto as a payment method.
As we speak, 2021 is on the path to record the highest number of investment frauds that have ever taken place in a year. In the first quarter alone, there were more than 14,000 scams. This is a pretty high figure compared to the total of 26,500 scams that were reported in the whole of 2020.
Recently, Allied Payment Network introduced a wallet app designed to be used by banks and credit unions on Finastra’s FusionStore.
The new application is the resulting fruit from the collaboration between Allied and NYDIG. The gist behind this program is to provide a means through which customers and members are able to purchase, sell and hold bitcoin through a reliable and safe platform.
Allied takes the crown for being the very first bill pay provider to offer such a service, moreso, to make it available to financial institutions.
Making the announcement about the new product, Allied’s CEO, Ralph Marcuccilli, remarked that the firm’s primary objective was to work with financial institutions to create similar value-based technologies.
So how exactly will the Allied Bitcoin Wallet work? Well, the system, which is built on Finastra’s FusionFabric.cloud, will operate by merging digital payments, bitcoin transactions, and account balances into one area that’s readily accessible.
What this means is that the financial institutions won’t be forced to hold any bitcoin on its liability and asset statement. They also won’t have to carry out transactions in bitcoin to offer this service.
On their part, these banks and credit unions will benefit massively by attracting new customers. They will also be able to provide better services to their existing clientele as well as generate a new avenue for non-interest income.
Commenting on the issue, Vincent Pugliese, who is Finastra’s General Manager, said that the integration of Bitcoin into different financial systems has increased rapidly in the past decade.
As such, financial institutions should constantly look for ways that enable them to provide better services to their customers.