Bitcoin has rallied at the end of June, rising in price from close to $30,000 on the weekend to above $35,000 on Wednesday.
Other leading cryptocurrencies have seen a similar bounce in recent days, with Ethereum (ether) and dogecoin breaking above the crucial markers of $2,000 and $0.25 respectively.
Beyond brief peaks above $40,000 and dips below $30,000, the cryptocurrency has spent the entire month trading within a $10k price range.
The relative stability has divided crypto analysts over whether the market is in a bull or bear phase, meaning July’s movements will be under close scrutiny.
Still down by around a half from its peak in mid May, bitcoin has entered a “buy phase” for only the fifth time in its history, according to one indicator. The Puell Multiple graph, which charts mining profitability, entered the green zone this week for the first time since March 2020.
You can find all the latest updates, analysis and expert price predictions right here.
Ethereum overtakes bitcoin to make crypto history
Ethereum has made crypto history by overtaking bitcoin in daily active addresses for the first time.
The number of daily active addresses reached above 649,000, while bitcoin fell to around 580,000, according to analytics firm Santiment.
It comes amid a major price rally for the world’s second most valuable cryptocurrency, which has seen it rise from below $1,800 to above $2,100 over the last week. In contrast, bitcoin continues to flounder around the $35,000 price point.
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Anthony Cuthbertson30 June 2021 18:21
Coinbase wants to be Apple of crypto by building dApp Store
Coinbase boss Brian Armstrong wants his company to “build the crypto app store” and create a platform for decentralised applications (dApps) similar to Apple’s App Store.
“Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps,” he wrote in a blog post.
“We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months. We’ll work to give our users easy access to all of the from the main Coinbase product.”
Anthony Cuthbertson30 June 2021 15:17
El Salvador installs 1,500 bitcoin ATMs
El Savador has begun installing 1,500 bitcoin ATMs in the country to provide citizens with easy access to the cryptocurrency for when it becomes legal tender.
The roll-out is being led by the firm Athena Bitcoin ahead of the world-first Bitcoin Law taking effect later this year.
Athena Bitcoin director Matias Goldenhörn told Reuters that El Salvador’s President Nayib Bukele “presented us with a tough challenge of 1,500 ATMs. We will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable.”
(PA)
Anthony Cuthbertson30 June 2021 13:35
Bitcoin billionaire leaves behind crypto fortune
A controversial bitcoin advocate has reportedly died, leaving behind a crypto fortune in excess of $2 billion.
Mircea Popescu drowned in Costa Rica, according to local media reports, at the age of just 41. As the founder of bitcoin securities exchange MPEx in 2012, he was one of bitcoin’s early adopters.
He was once described as “the father of bitcoin toxicity”, but former CoinDesk editor-in-chief Pete Rizzo described him as “one of bitcoin’s most vilified figures [but] inarguably one of its greatest philosophers.”
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Anthony Cuthbertson29 June 2021 21:14
New cryptocurrency wants to scan your eyeball
A new startup is hoping to accelerate cryptocurrency adoption by offering it to everyone on Earth – with one big catch.
Worldcoin, founded by Silicon Valley heavyweight Sam Altman, wants to scan people’s eyeballs in exchange for cryptocurrency in an effort to spread awareness of crypto and universal basic income.
“I’ve been very interested in things like universal basic income and what’s going to happen to global wealth redistribution and how we can do that better,” Altman told Bloomberg. “Is there a way we can use technology to do that at global scale?”
The company is also backed by famed early tech investor Andreessen Horowitz, as well as the venture capital arm of Coinbase. The idea is that by scanning someone’s eye they will have a unique identifier to ensure even distribution of the coin.
Anthony Cuthbertson29 June 2021 16:35
Bitcoin ‘flashing big buy signal’
Bitcoin is “flashing a big buy signal”, according to one indicator.
The Puell Multiple graph, which charts mining profitability, has entered the green zone for the first time since March 2020. At the time a flash crash had pushed the cryptocurrency’s price below $5,000 – and a subsequent rally took it to a new all-time high before the end of the year.
“Puell Multiple flashing a big buy signal for #bitcoin,” tweeted prominent crypto investor Lark Davis.
“Only the 5th time ever! Last 4 times were spot on, will this one be too?”
(Lark Davis/ Twitter)
Anthony Cuthbertson29 June 2021 08:35