Bitcoin News and Finance: What You Need to Know

The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence. Ethereum 2.0 Contract Nears $30 Billion In the early days, the Ethereum ( ETH ) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm that keeps Ethereum chugging along. On November 6, 2020, Bitcoin.com News reported on the co-creator of Ethereum, Vitalik Buterin, adding $1.4 million worth of ether into the Phase 0 smart contract. Since then, the ETH 2.0 contract has swelled significantly. In July 2021, Bitcoin.com News reported on the Ethereum 2.0 contract exceeding six million ether. At the time on July 2, the six million ether was worth $12

It’s a big day for El Salvador this Tuesday, as the country’s new legal tender law will be enforced. A great number of bitcoin supporters have plans to purchase $30 worth of bitcoin to show support for the upcoming implementation of the bitcoin tender law. The $30 increment was conceived because Salvadoran president Nayib Bukele has promised $30 worth of free bitcoin to every Salvadoran citizen with a government wallet. In Less Than 24 Hours, El Salvador Is Officially Adopting Bitcoin as Legal Tender On Wednesday, September 7, 2021, El Salvador’s bitcoin tender law will come into play. The monetary shift has the whole world focused on the small Latin American country, because people are very curious as to what will happen after bitcoin becomes legal tender. On June 25, Bitcoin.com News reported on the Salvadoran president Nayib Bukele telling citizens that anyone with a government-backed digital currency wallet will receive $30 worth of free bitcoin. Bukele said at the time: It w

One of the Big Three credit rating agencies, Moody’s Corporation, often referred to as Moody’s, has listed an employment opportunity for a “crypto-asset analyst.” Moreover, Moody’s job listing shows the company is very interested in the “wide-reaching impact of decentralized finance(defi).” Moody’s Is Hiring a Crypto Analyst, Candidate Needs to Grasp Defi Moody’s is hiring a crypto-asset analyst according to a recent job listing posted to linkedin.com’s employment listings . According to the job description, the newly hired crypto analyst will join the company’s “Blockchain C4E team” and leverage the research and development the team has put together. “You will be part of a team of individuals responsible for supporting successful project deliveries for our C4E,” the Moody’s job listing notes. “The role also includes advocating for operational and process changes to move towards a more data-driven organizational paradigm.” The analyst can work remotely if they qualify but Moody’s w

Bitcoin surpassed the $52K handle on Monday morning, as crypto-asset markets have been moving northbound and gathering more fiat value. The overall crypto economy is around $2.45 trillion and it has gained 3.5% during the last 24 hours. Meanwhile, bitcoin charts show a pending golden crossover which to many means the overall market outlook looks bullish. Bitcoin Hits Resistance Above the $52K Handle Digital asset markets are in the green today and many crypto assets have seen single to double-digit gains during the last 24 hours. At the time of writing, the entire crypto-economy of 10,000+ cryptos in existence is around $2.45 trillion on Monday. Bitcoin ( BTC ) has gained more than 3.5% today and 6.3% during the last seven days. On Monday morning (EST), BTC surpassed the $52K zone reaching $52,230 per unit. Many assume BTC ’s next few months will be bullish and a pending golden cross chart signal indicates this may be the case. Bitcoin ( BTC ) tapped a high of $52,230 on Monday,

PRESS RELEASE. Leading Crypto service comparison site – Cryptowisser deep dives into the environmental future of cryptocurrency . Despite major scrutiny from traditional media and press, cryptocurrency possibly remains more environmentally friendly than traditional banks, just no one is reporting it. Crypto community anticipates a green future. With the crypto world under constant scrutiny from a variety of sources, the last thing they need are accusations for ruining the earth. While mining bitcoin is very energy intensive, the crypto community are constantly working to improve their carbon footprint. As far as environmental revelations are concerned, the future seems to lie in the use of Proof of Stakes systems Vs Proof of Work. Although several coins have already migrated over from Proof of Work systems, many still exist. The Cryptowisser report details how Proof of Work systems and specifically their security measures require an astronomical amount of energy. The principles

A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered. Cryptocurrencies Show the Way In remarks published by Joy Online, Obele insists that cryptocurrencies have already shown how a single currency must function. The economist explained: Crypto has been able to build a level of singular markets when it comes to digital currency use and trade across borders, and this is a significant philosophy which the [African Continental Free Trade Area] originates. One of the significant issues that the AFCTA presents is an important opportunity for a singular currency in the African Market. We all know because of the different development stages of financial markets in respective member states. Obele, however, concedes that the adoption of a single digital currency

Sunacrip, the Venezuelan cryptocurrency watchdog, and the Intelligence Police (CICPC) issued a warning for the general population about cryptocurrency scams. The institutions gave a series of recommendations to avoid being scammed by cryptocurrency Ponzi schemes involving the national cryptocurrency, petro (PTR), advising users to always keep their accounts’ passwords secure. This is the government’s answer to a series of crypto scams that have been happening in the country in the last few days. Venezuelan Regulator and Intelligence Police Warn Users The cryptocurrency watchdog, Sunacrip, and the Venezuelan intelligence police have issued a warning on social media about general cyber security, advising users to take a series of basic steps to avoid being victims of crypto-related scams. The information was shared using the Instagram account of the information related crime division of the Intelligence police, where the institution stated: We inform the community to avoid being vi

A meetup in a vehicle warehouse in Houston served as an encounter point for oil producers and bitcoin miners to talk about possible on-site crypto mining opportunities last week. More than 200 investors attended the meeting to talk about an alliance, that would allow oil producers to make more efficient management of their resources and miners could take advantage of direct sources of energy that would be wasted otherwise. Oil Producers and Miners Meet to Talk Bitcoin Mining Several oil producers and bitcoin miners met last week in Texas to talk about the possibilities of on-site mining that Texas energy producers could bring for them. The meetup, that happened in a vehicle warehouse in Houston, served as a point of encounter to examine these possibilities. Oil wells that are not so big to build pipelines into their operations usually burn the natural gas pockets encountered on site. However, bitcoin ( BTC ) mining can provide a better solution. This natural gas can be used to powe

Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.” Cryptocurrencies Poised to Thrive, Bull Market Revived Commodity strategist Mike McGlone discussed his price predictions for bitcoin and ethereum in the September edition of Bloomberg Crypto Outlook, published Friday. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start,” he began, adding: We see ethereum on course toward $5,000 and $100,000 for bitcoin. Portfolios of some combination of gold and bonds appear increasingly naked without some bitcoin and ethereum joining the mix. The analyst explained that “diminishing supply” is boosting the price of ETH amid “increasing demand and adoption,” emphasizing that ethereum is the primary denominator for non-fungible

Cryptocurrency exchange Binance has announced that it will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the country’s regulators. The announcement followed a notice issued by the Monetary Authority of Singapore (MAS) stating that Binance “may be in breach of the Payment Services Act.” Binance Complying With Singapore’s Regulations Crypto exchange Binance announced Sunday changes to its services in Singapore. The company wrote that “to remain compliant with local regulators,” it will cease offering “SGD trading pairs” and “SGD payment options” on Friday, Sept. 10. Binance will also remove its app from Singapore iOS and Google Play stores. SGD trading pairs will also be removed from Binance P2P Friday. The exchange further advised users to complete all related P2P trades and remove all related advertisements by Sept. 9 “to avoid potential trading disputes.” Moreover, Binance clarified that it is not operating any official Telegram or

The price of bitcoin has risen above the $51K zone on Sunday and traders and speculators are curious as to where the price is headed next. Historically, in September, bitcoin prices don’t fare so well and usually get better in October. For this reason, skeptics are not sure if bitcoin’s price will continue to be bullish during the ninth month of the year. So far, however, the end of the first week of September 2021 has been much better in terms of gains. Historical Bitcoin Prices in September Are Often Low and Lackluster, 2021 Has Been Different Bitcoin is doing well on Sunday, up 5.4% during the last seven days and 26.3% during the last month. So far it has jumped above the $51K region on Sunday evening (EST), hitting a high of $51,863 per unit . The first week of September is almost over, and so far, BTC is looking real good price-wise but traditionally, the leading crypto asset doesn’t do so well this month. In 2013, BTC was in the red that September after reaching a $240 all

At the time of writing, the total value locked (TVL) in decentralized finance (defi) is around $176 billion across various blockchains like Ethereum, Binance, Terra, Polygon, Solana, and Avalanche. While Ethereum commands $130 billion of the aggregate total locked, a myriad of other defi-fueled blockchains continue to see TVLs steadily rise. Total Value Locked Across All Defi Compatible Blockchains The total value locked (TVL) in defi today has risen to $176.9 billion with a change of 1.07% during the last 24 hours, according to defillama.com statistics. The TVL has been steadily nearing the $200 billion zone and today Uniswap commands 3% dominance among the variety of defi applications. The defi application Aave commands $16.04 billion and Curve captures $13.92 billion today as most of the TVL is locked into application bolstered by the Ethereum chain. Total value locked on all chains, according to defillama.com statistics on Sunday. A number of other chains, however, have bee

During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie Infinity, Art Blocks, Bored Ape Yacht Club (BAYC), and Meebits have been seeing massive volumes. However, a number of new NFT collections are making headway in sales and the Ethereum-based roleplaying game called “Loot (for Adventurers)” now commands the top spot. Loot, MAYC, Inertial Moment NFTs are seemingly becoming a mainstay in the world of cryptocurrencies and blockchains. Non-fungible token concepts have invaded the art scene, music, gaming industry, and many more sectors. For instance, Michael Winkelmann, known professionally as Beeple, sold his “Everydays: the First 5000 Days” NFT for over $69 million making it the fourth-most expensive artwork by a living artist. Since then it’s been all about NFT collections stemming from projects like Cryptopunks , Meebits, Weird Whales , BAYC, Mutant Ape Yacht Club (MAYC), Art Blocks, Axie Infinity , and more. Loot (for Adventurers) is the top-selli

Russian communications watchdog, Roskomnadzor, has restricted another six VPN providers. The agency says the platforms have facilitated access to information that is banned in the Russian Federation. Roskomnadzor is also whitelisting certain VPN services that operate in accordance with the law and are used by Russian companies. Roskomnadzor Bans More VPN Platforms in Russia Russia’s Federal Service for Supervision of Communications, Information Technology, and Mass Media, Roskomnadzor, has restricted access to another batch of VPN service providers. In accordance with a government decree issued in February 2020, “a decision was made to block 6 more VPN services that violate Russian law,” the watchdog explained in a notice published Friday. The affected platforms are Hola! VPN, Express VPN, Keepsolid VPN Unlimited, Nord VPN, Speedify VPN, and IPvanish VPN. The regulator insisted their services allow users to maintain “access to prohibited information and resources,” creating condi

While bitcoin prices have risen in value during the last two weeks, bitcoin dominance levels have slipped to lows not seen since the June 6 low of 41%, and the dip to 39.97% on May 16, 2021. Depending on the crypto market price aggregator leveraged, bitcoin’s dominance has been between 39.99% to 41.52%. Meanwhile, as bitcoin’s dominance has dropped significantly, crypto-asset markets like ethereum, cardano, binance coin, and tether have seen market dominance, in terms of overall valuation, steadily increase among the 10,000+ coins in existence today. As Bitcoin Slides to the 40% Range, Ethereum Climbs to 20% of the Crypto Economy It is well known that between the first time bitcoin ( BTC ) prices were calculated by market capitalization, and all the way up until February 2017, BTC had more than an 80% market dominance among all the other coins, for a majority of the time. There was an instance in 2014, where BTC dropped to 77.9% in December and again in March 2016 to 76.42%. Afte

Unknown scammers have organized a fake bitcoin giveaway through a Russian government website they hacked. The news of the attack comes after a recent report revealed that damages from crypto-related fraud in Russia have reached $30 million in value in the first half of this year. Regional Government Website in Russia Hacked by Scammers The main website of the local administration in the Russian city of Ryazan, around 200 km southeast of Moscow, has been targeted by hackers twice in a single day, Rzn.info reported quoted by the crypto news outlet Forklog. The unidentified attackers published an ad offering cryptocurrency to those who download a special application. The scammers initially promised to send 0.025 ВТС to every visitor who installed the app. They later changed the offer to a prize of $1,000 in bitcoin for each of five randomly chosen participants in what was advertised as the “Ryazani online lottery.” Both ads have already disappeared from the mayoral site but the local

Beleaguered crypto exchange, Binance, has released a statement in which it denies accusations that provides financial advice or renders any intermediary services. In a statement released on Twitter less than 24 hours after the Financial Sector Conduct Authority (FSCA)’s warning, the crypto exchange also denies having any ties or links to the organization “Binance Group.” Binance Not Associated With Binance Group Instead, Binance suggests in its September 3 Twitter thread that the FSCA might have erred when it issued the warning. The thread explained: Binance Group’ is not a Binance.com entity, please be mindful of scammers pretending to be associated with Binance.com. As reported by Bitcoin.com News, the FSCA did ask South Africans to be “cautious and vigilant when dealing with Binance Group” because the crypto platform is not authorized per South African laws. The FSCA also alleges that Binance — which it says is situated in Seychelles — maintains a Telegram chat group that “

On September 3, the decentralized exchange (dex) aggregation platform 1inch announced the project has partnered with the animated series “Take My Muffin.” The multimedia animated series aims to be co-created by the crypto community and created by a professional animation studio. 1inch Network Sponsors ‘Take My Muffin’ Animated NFT Series A new animated non-fungible token (NFT) series called “ Take My Muffin “ has announced a general partnership with the dex aggregator 1inch. Anton Bukov, the 1inch Network co-founder, says that the two teams are pleased to collaborate and stressed: “a partnership of this kind comes as no surprise.” The firm behind the 1inch Network will be sponsoring the NFT animated series. “’Take My Muffin’ was financed by the crypto-community from the very beginning, it’s actually the very first crypto-funded animated series, while the 1inch Network is one of the most promising and successful projects in the crypto space,” Bukov said in a statement. An explan