Bitcoin Price Drops $1,000 as Stocks Plummet — Bulls Quickly Buy the Dip

Today as the closing bell rang at Wall Street, Bitcoin (BTC) price corrected sharply, pulling back below $6,000 less than 24-hours after hitting a 7-day high at $6,900. The $1,000 drop from $6,670 to $5,670 is sure to have shocked investors as it is slightly below analyst’s price correction estimates but at the time of writing it appears that traders are buying into the dip. Crypto market daily performance. Source: Coin360 The price has bounced at $5,700 and currently bulls are pushing it back above $6,200. After this week’s stellar…

P2P VPN Provider to Offer Their Services to Journalists for Free

U.S-based Peer-to-Peer VPN Provider Orchid will start offering a private network for free to journalists across the globe, according to an announcement made on March 20. According to Orchid, journalists who have press credentials and proof of status, regardless of their geographical location, can send an email to the company so they can access the network.  VPN free as a measure against press censorship Speaking with Cointelegraph, Dr. Steven Waterhouse, CEO and co-founder of Orchid Labs, made some comments regarding the motivations that led the VPN provider to offer such…

Following Bittrex Listing, UPT Token Pumps on Thin Volume

Bittrex Global has listed two stablecoins and a utility token issued by ‘The Universal Protocol Alliance’ (UPA) after joining the UPA. The new listings comprise stablecoins Universal Dollar (UPUSD) and Universal Euro (UPEUR), in addition to the Universal Protocol Token (UPT). UPT rallies on Bittrex listing The announcement appears to have comprised a boon for UPT — with the token gaining nearly 170% in 24 hours. Despite the strong price performance, the move was driven by less than $3,000 in volume, with trades taking place on a single exchange. UPT…

US Government Extends Daily Trillion Dollar Repo, Again Dwarfing Crypto Market Cap

The U.S. government has extended its daily trillion-dollar repo mission until the end of March, making the entire crypto market cap seem even smaller by comparison. “The Federal Reserve Bank of New York announced it will further extend its daily repurchase agreement operations (also known as ‘repo’) to $1 trillion for the rest of March,” CNBC said in a March 20 news update. “Repos are when banks submit high-quality collateral, such as Treasurys, in exchange for reserves from the Fed,” the news outlet explained. “Banks then use the money to…

Folding@Home Surpasses 400,000 Users Amid Crypto Contribution

In a recent Reddit ask-me-anything (AMA) Gregory Bowman, Folding@Home’s (F@H) director, revealed that the project currently has 400,000 computers actively contributing to research. “We had about 30K users before the pandemic started,” he stated, adding: “In the past two weeks, 400K volunteers have joined Folding@home.” The number of F@H donors has increased 1200% in four weeks Folding@Home is a platform that diverts donations of spare computational power toward medical and scientific research. On Feb. 27, F@H announced an initiative to harness a global computer network to contribute work towards pharmaceutical…

World Federation of Exchanges Says Crypto Terminology Needs Clarity

Responding to crypto-related regulatory framework from the European Union, the World Federation of Exchanges, or WFE, called for clarity between digital asset and crypto asset classifications. “We believe there could be value in adopting a single EU classification which covers both: digital-assets and also crypto assets, as a subcategory,” the WFE wrote in response to questions posed in a March 20 report. A new industry charts murky waters Blockchain and crypto have only been around for just over a decade, so terminology and regulation surrounding the space is still developing.…

Steem Community Resists Takeover, Hard Fork Launches Hive Network

The Steem (STEEM) blockchain community continues to oppose Steemit in the wake of the recent “takeover” orchestrated by Justin Sun, the startup’s new owner. On March 18, “a large group of Steem community members” announced its intention to hard fork the Steem blockchain and create a new platform called Hive. The network split that was scheduled for Friday, March 20, successfully took place at around 10.30AM CET, and the market already seems to be reacting to the news, as the price of STEEM token decreased by over 20% to around…

Less Than 1% of Australians Used Crypto to Pay for Services in 2019

While some Australian authorities recognize cryptocurrencies as a form of investment, digital assets like Bitcoin (BTC) are apparently not very popular as means of payment in the country. Australia’s central bank, the Reserve Bank of Australia (RBA), says that less than 1% of Australians used cryptocurrencies like Bitcoin to make a consumer payment in 2019. Australian consumers increasingly prefer to use electronic payment methods The data is based on RBA’s own study, conducted in October and November 2019. Released on March 19, the RBA’s latest report is the fifth comprehensive…

IRS Delays Tax Day to July 15, Still Monitors Crypto

Like other financial markets, crypto investors have seen wild swings and devaluations in recent weeks as Coronavirus, also known as COVID-19, issues have hit many people all over the world. With safety concerns paramount, it can be easy to forget for a time about more pedestrian issues like taxes. But taxes won’t go away entirely. The United States Internal Revenue Service’s main tax filing deadline remains as April 15, but there is a 90-day reprieve on payments to the IRS until July 15, according to IRS Notice 2020-17. Does this…

Hive Hard Fork is Successful, STEEM Crashes Back to Earth

Following weeks of conflict between the Steem (STEEM) community and Justin Sun, the community-led Hive hard fork was successful. On March 20, Hive hard forked the Steem network, airdropping HIVE tokens to STEEM holders 1:1, excluding the founder’s reward.  The founder’s reward comprises 20% of the total STEEM supply. The tokens were acquired by Tron’s founder, Justin Sun, when he purchased Steemit Inc — the largest front-end interface for the decentralized blogging platform — on Feb. 14. A quick search through Twitter shows that many content creators are already posting…