Litecoin followed a favorable trend on the previous day’s Litecoin price analysis chart. However, this bullish movement was halted by solid selling pressure when the daily price analysis chart set in, causing the prices to drop sharply to the lowest level on the daily price analysis chart at $186. The bulls seemed to be on the drawing board strategizing a possible attack that would alter the current negative trend. The bulls congregated in large numbers and amassed enough power to establish solid support that reversed the bearish trend, causing the LTC/USD to surge.
Bitcoin is akin to barter trade and is unfit for use as a currency, the head of the Mexican central bank has said, noting that cryptocurrencies lack the values that all currencies must possess and are more similar to precious metals than they are to currencies. Several countries have taken a positive approach towards crypto recently.
One of the largest NFT trading marketplaces OpenSea recently admitted insider trading by its executives. The OpenSea executives were using proprietary information to benefit from the NFT sales.
This week, ABEY has announced that it has been adding an average of 20,000 active ABEY 2.0 addresses each week since the beginning of August 2021, making it one of the fastest-growing blockchains in the world and finishing an exceptional week that included the ABEY token being listed on Liquid Global, a premier international cryptocurrency exchange.
The City of Miami, Florida, has voted to accept millions of dollars generated by MiamiCoin (MIA), its very own digital asset.
Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies. “I hate how central banks are destroying our money and economy … cryptos are another new and innovative way to counter this that should be encouraged,” he said.
Andreessen Horowitz (a16z), one of the most influential venture capital firms is reportedly in advance talked with an Indian crypto exchange Coinswitch Kuber to close a $100-$200 million funding round. According to the sources, if the estimated funding goals are reached, the Indian crypto exchange could see a four-fold increase in its valuation from the last funding round in April reaching $2 billion.
Cryptocurrency is here to stay! While big players have set a competitive margin in Australia, the emerging players are out to shrink the gap. As per the report, Australians have accrued a total of $7 billion worth of crypto.
Crypto mining hardware manufacturer and computing solutions provider Canaan recently released its unaudited financial results for the second quarter ended 30 June 2021. The company’s net revenues reached $167.5 million in the latest quarter, the highest in the company’s operating history. Canaan reported a massive turnaround in terms of net income. The crypto mining sector faced a backlash from regulators across the world recently, especially in China.
The Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of the prospective digital lira.