The overall cryptocurrency market is up 8% as of writing this story with Bitcoin (BTC) shooting 12% taking its overall market dominance above 45%. The Bitcoin price has shot up post-Elon Musk stating that Tesla will once again accept Bitcoin (BTC) payments once 50% of BTC mining turns on renewables.
Bitcoin’s price surged over 10% on Sunday evening stateside after Tesla CEO Elon Musk said the electric vehicle maker could accept bitcoin transactions again in the future. At the time of writing, bitcoin is trading at $39,340, 12% up in the last 24 hours. Since the start of the year, the leading cryptocurrency has surged more than 30%, though its current price is way off the all-time high of $64,829.14 hit in April.
Indian Government Reportedly Considers Regulating Crypto as an Asset Class
The Indian government has yet to introduce a cryptocurrency bill. An existing bill seeks to ban cryptocurrencies. However, there have been reports of the government re-evaluating the recommendations within the bill.
After finally climbing past the $28 mark, Polkadot price failed to continue its bullish rally and the price has dropped to just below $20.While the price at press time holds just below $20, the bearish pressure is very strong and the price may fall further in the immediate future if the selling continues.
Two of the hottest trends that drifted over the past couple of years include institutional investment moving to include bitcoin in their balance sheets and environmental, social, and governance factors becoming a bone of contention. Thanks to Elon Musk’s recent tweets, the question of if the two factors are mutually exclusive started gaining traction.
Decentralized finance came to life with the inception of Ethereum in 2013. However, it truly hit the ground running in 2016–2017 with the backing of Ethereum developers and some entrepreneurs and experts in the financial investment sphere. To get our facts right and clear all misconceptions, DeFi encapsulates a variety of financial applications in cryptocurrency or blockchain that are geared toward removing intermediaries between parties in financial transactions.
Bitcoin traders are sitting on their hands after spotting a death cross on the daily chart but could this be a buy signal for contrarian investors? Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion.
The Bitcoin Mining Council has gone live, launching its own website detailing its members and the mission statement of the organization. The council originated as a closed organization, but they are now allowing any miner to join. While Michael Saylor gets a founding member status, the site states Elon Musk has “no role” in the council.
Binance has announced that it will soon be launching “a non-custodial, on-chain platform to facilitate the full lifecycle of NFTs for creators, brands and their fans.” The new platform is called “Featured by Binance.”
According to the CEO of Featured by Binance, at launch, the platform will focus on helping Binance’s brand partners “launch NFT assets with strong unique narratives, a marketplace to trade those assets, and creator tools to mint, sell and showcase their NFT creations.”