Crypto Newsletter

Uniswap DeFi Token UNI Rises 9%

The price of UNI, the native governance token of decentralized exchange Uniswap, has increased by 9% over the past 24 hours to reach $20.6, data from crypto metrics platform CoinGecko shows.

Philippine Stock Exchange Eyes Cryptocurrency Trading — Says 'It's an Asset Class That We Cannot Ignore Anymore'

The national stock exchange of the Philippines, the PSE, says cryptocurrency is “an asset class that we cannot ignore anymore.” The stock exchange further says cryptocurrency trading “should be done at the PSE,” given its infrastructure and investor protection safeguards.

This analyst believes Ethereum is ready to move in this ‘big’ way

The two largest cryptocurrencies by market cap, Bitcoin and Ethereum have dominated the crypto market for a long time. While the former is perceived as the guardian of wealth, the latter is considered a utility behemoth. At press time, both BTC and ETH witnessed a decent surge in prices after a period of consolidation. While the former was trading at the $33.7k mark, the latter rose above the $2100 price level.

Are cryptocurrency ransom payments tax deductible?

Any ransom payments made in cryptocurrency are taxed as property rather than currency, so be aware of the U.S. tax implications.

Bitcoin Miner Greenidge Generation Plans to Develop South Carolina Mining Facility

On Friday, the bitcoin mining operation Greenidge Generation Holdings announced the company is expanding to South Carolina in order to develop the firm’s next bitcoin mining facility. Greenidge details that the carbon-neutral Spartanburg facility will be ready in 2021 or early 2022.

Influencers and celebrities support crypto scams, and traders are mad

Some celebrities like Kim Kardashian speak well about crypto and how vital their trade is. But billionaires like Elon Musk speculate on tokens and make their value skyrocket. But not everything is perfect because just as there are promoters of crypto business, there are also scammers.

Gerard, the nickname of a crypto critic, thinks that people have suffered from the Bitcoin crypto scams for a long time, like Xlcoins scams in 2011 or the most recent theft with the Faze token. This latest scam caused many people to participate in a fraudulent contest where the jackpot would be $10,000.

Crypto community had enough of the ‘Elon Musk effect’ phenomenon

Elon Musk, Tesla CEO and SpaceX founder, marked a milestone in this new year. The magnate was a key player in increasing Bitcoin, Dogecoin, and other cryptocurrencies. However, that power has disappeared, and the “Elon Musk effect” is left in the past.

Bitcoin market: The good, bad, and ugly

Historically, the second quarter of every year has been quite robust for Bitcoin. The market’s largest crypto has recorded positive returns 6 out of 8 times, reflecting negative returns only once before 2021. In fact, Q2 of 2019 and 2017 saw impressive returns of 157.54% and 125.32%, respectively. Breaking the positive returns streak, however, the bygone quarter’s ROI stands at precisely -40.37%.

Wealthy and Highly Educated Investors Are Buying Two Altcoins Over Bitcoin, According to Bank for International Settlements

The Bank for International Settlements (BIS) says rich and educated investors prefer buying two large-cap altcoins over Bitcoin (BTC).

In a new report, the global financial entity owned by central banks looks at investor activity in the crypto space, broken down by education and income level.

DeFi’s Reliance On The USD Is Proving To Be Extremely Dangerous For The Multibillion-Dollar Market

Replacing banks and brokerages to be the middleman for buyers and sellers is one of the values that Decentralized finance (DeFi) Brings to the modern digital market. Almost every definition of DeFi noted the fact that financial services are made available without any centralized entity in charge.