Bitcoin, Ethereum Primed to Rebound Despite Losses

Key Takeaways Bitcoin has endured an 18% correction over the past two weeks and now sits on top of stable support. Ethereum whales are slowly reentering the network as a number of new buy signals pop up in the market. Despite the significant losses incurred recently, it seems that both cryptocurrencies are poised to rebound. Share this article Sidelined investors appear to be taking advantage of a recent downswing to reenter the crypto market. The sudden spike in buying pressure could help Bitcoin and Ethereum prices recover. Bitcoin Holds Above…

New Zealand retirement fund reportedly allocates 5% to Bitcoin

KiwiSaver Growth Strategy, a $350 million retirement plan operated by New Zealand Wealth Funds Management, has reportedly allocated 5% of its assets to Bitcoin (BTC), underscoring the steady stream of institutional investors entering the digital asset space. Bitcoin’s striking similarities to gold were cited as one of the biggest reasons for entering the trade, according to James Grigor, the chief investment officer at New Zealand Funds Management. “If you are happy to invest in gold, you can’t really discount bitcoin,” he told Stuff, a New Zealand news agency, adding that…

Microsoft’s ION Identity Layer for Bitcoin Is Now Live

Key Takeaways Microsoft has announced the launch of ION, its decentralized identity protocol for managing web account access. As of today, the project is open source and ready for general use. ION is one of many blockchain efforts from Microsoft. Share this article Microsoft announced today that its ION layer for Bitcoin is complete, as reported in a blog post from the company. What Is ION? Microsoft’s ION Network is a Decentralized Identity (DID) network built on top of the Bitcoin blockchain as a second-layer protocol. Rather than handling payments,…

3 reasons why StormX (STMX) price has rallied 2,800% in 2021

Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services. Several cryptocurrency companies like BlockFi and Coinbase have revealed future plans to offer cryptocurrency-backed debit and credit cards that offer cashback rewards in Bitcoin and StormX (STMX) has joined the crowd. StormX (STMX) is a gamified marketplace that allows users to earn STMX as well as other cryptocurrencies for shopping at one of its online network partner stores or by completing micro-tasks through its app. STMX/USDT…

Could LEGO be hopping on the NFT train?

The LEGO Group, a toy manufacturer best known for its popular interlocking plastic bricks, hinted it may be getting into the latest craze in the crypto space. On Wednesday, the official LEGO Twitter account posted (and then quickly deleted) a message referencing non-fungible tokens, or NFTs, along with a short video clip. The tweet, which read “zeros and ones but still a brick” along with the NFT hashtag could imply that the famous toy manufacturer is considering entering the crypto space once again. The 14-second video, though not directly connected…

Crypto.com launches CRO token mainnet

Cryptocurrency exchange Crypto.com has launched a fully decentralized open-source public blockchain, the Crypto.org Chain. In an announcement today, the crypto exchange said it had launched its Crypto.org public blockchain after more than two years of research and development, two testnets, and a mainnet dry run with 275 million transactions reportedly processed within a month. The blockchain’s native token will be the Crypto.org Coin (CRO). Last month, Crypto.org burned more than 70 billion CRO — roughly $10 billion at the time — in advance of the mainnet launch. The new chain…

BTC investors shouldn’t transact until tax code changed

Cathie Wood, the founder and CEO of Ark Invest, is cautioning investors not to sell or transact their Bitcoin (BTC) until the United States Internal Revenue Agency, or IRS, introduces more sensible tax policies on digital assets. In a webcast hosted by Cboe, Wood said transacting with BTC could lead to massive tax liabilities. “The IRS has something to say about this, so if you have huge gains in your Bitcoin, I don’t think I would bear much in the way of transactions until we get maybe some changes on…

Is Tesla Preparing to Accept Tokens Other Than Bitcoin?

Key Takeaways Tesla has reworded its Bitcoin payments policy, and some have interpreted this to mean it is considering other cryptocurrencies. An recent exchange between MEGA’s Kit Dotcom and Tesla’s Elon Musk discussed the merits of Bitcoin Cash. Tesla has made no definitive statement on the matter, meaning it is unlikely that it will accept altcoins any time soon. Share this article Rumors are circulating that Tesla is considering accepting cryptocurrencies other than Bitcoin, due to statements by CEO Elon Musk and changes to wording on the firm’s website. Tesla…

What the FUD? Fear drives Bitcoin price down, not Friday’s $6.1B expiry

Earlier this week, Cointelegraph reported the importance of the upcoming $6.1 billion Bitcoin (BTC) options expiry on March 26. The article made clear that bulls were in control if one excluded the put (sell) options below $47,000, which is likely the case as BTC currently hovers above $50,000. As the expiry date draws closer, it’s less likely that traders will be willing to pay for the right to sell BTC at $47,000. The same could be said for the ultra-bullish call (buy) options at $60,000 and above. Therefore, the $6.1…

New York Times raises $500,000 for charity in NFT column sale

“It’s worth a try,” wrote New York Times columnist Kevin Roose of his attempt to auction one of his articles as a non-fungible token (NFT). Just a day later, however, it appears to be worth much more than that. After publishing a step-by-step NFT explainer titled “Buy This Column on the Blockchain!” on Wednesday, Roose has successfully auctioned today what he calls a “digital original” of his article as an NFT on the Foundation platform, raising over $550,000 for charity.  The last half-hour of the auction was a particularly exciting one, with…