Author: admin-crypto

Crypto Ransom Payments Hit $81.6M in Five Months of 2021, Almost As the 2019 Total By Jastra Kranjec Over the last few years, ransomware attacks have taken hundreds of millions of dollars worth of cryptocurrencies to victims worldwide. In 2020 only, as the record year for crypto ransomware attacks, the total value of loss hit more than $400 million, showing a massive 337% increase in a year. However, as the fastest-growing type of cybercrime, crypto ransomware attacks continued causing new losses this year. According to data presented by Block Arabia, victims transferred $81.6 million worth of cryptocurrencies to cybercriminals in five months…

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Bitcoin Price Pump Movement Grows Ahead of El Salvador’s Adoption By London Times (Bloomberg) – A growing movement on social media is calling for people to buy small amounts of Bitcoin in support of El Salvador’s plan to make the token legal tender. Users on platforms including Twitter and Reddit are discussing plans to buy $30 worth of Bitcoin en masse on Sept. 7 to mark El Salvador’s Bitcoin law coming into effect. The potential coordinated price pump echoes previous online campaigns targeting meme stocks like GameStop Corp. El Salvador has begun installing Bitcoin ATMs to allow citizens to convert…

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Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of Least Resistance By Kevin Helms 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…

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One Word From Elon Musk Sees Price of Dogecoin Increase By Alex Turner-Cohen Elon Musk hasn’t earned the name “crypto king” and “dogefather” for no reason. His decision to type a single word into social media earlier this week has seen a flurry of activity in the cryptocurrency realm. The billionaire entrepreneur replied to a tweet on Monday about an update to the dogecoin network and it sent prices surging. Mr Musk wrote a single word: “Important.” But it soon acquired more likes than the original tweet and saw a temporary rise in the cryptocurrency. According to the tweet that…

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Experts Predict Cryptocurrency Will Dominate Financial Industry by 2029 By Evin Priest Cryptocurrency experts believe it will surpass traditional finance in Australia as early as 2029 after a new report revealed the country had accumulated $7bn worth of digital coins. Comparison site Finder has released its annual Cryptocurrency Report with some significant revelations, including that 31 per cent of Gen Z Australians (born after 1997) own some form of crypto. Cryptocurrencies are virtual or digital forms of money that take on the form of tokens or “coins” using cryptography, making it difficult to be counterfeited. Australians have amassed $7bn worth of cryptocurrency,…

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By Caitlin McCabe After a brief hibernation this summer, cryptocurrencies are surging again. And this time, traders are abuzz about Cardano’s ada token. But what is it and how did it become the third-largest cryptocurrency? Here is what you need to know: What is Cardano? Cardano is a decentralized blockchain platform launched in 2017 and spearheaded by Ethereum co-founder Charles Hoskinson. Its self-described mission is to become a more environmentally sustainable and scalable blockchain network, in part by relying less on energy-consuming cryptocurrency miners. What is ada? Ada is a digital token, or cryptocurrency. It runs on the Cardano blockchain. It…

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Bitcoin and Ethereum Holders Rush To Book Profits Before Catastrophic Price Crash By Ekta Mourya $1.68 million worth of Bitcoin flows into exchanges, the most significant inflow since June 2019. Analysts admit to taking profits in Bitcoin and Ethereum on crypto Twitter; traders have a cautious outlook on the assets. Bitcoin experiences pullback ahead of $1.8 billion BTC options expiry. Overall exchange activity of Bitcoin and Ethereum surges, analysts expect higher volatility in the two assets over the weekend. Traders ramp up profit-taking in Bitcoin and Ethereum, ahead of $1.8 billion BTC options expiry Analysts have noted massive volatility in Bitcoin and Ethereum prices…

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Visa’s Secret Crypto Strategy: Fun By Robert Hackett and Declan Harty Who says business has to be boring? “The competitive advantage crypto has that most people haven’t understood yet is that we just have more fun,” says Cuy Sheffield, Visa’s head of crypto. The payments giant is practicing what it preaches: It revealed on Monday that it followed the Internet’s “cool kids” and purchased a non-fungible token, or NFT, of a CryptoPunk, one of 10,000 iconic computer-generated characters, for $150,000. Visa says it bought a “punk”—specifically, No. 7610, a lady sporting a mohawk and green eye makeup—because of the project’s…

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MicroStrategy Now Holds $2.9 Billion in Bitcoin After Buying an Additional 3,907 Coins in the 3rd Quarter By Emily Graffeo MicroStrategy bought an additional 3,907 bitcoins for roughly $177 million between July 1 and August 23. The purchase brings the company’s total holdings to 108,992 coins that were acquired at $2.918 billion. Shares of MicroStrategy fell 2.8% after the opening bell. MicroStrategy said on Tuesday that it purchased approximately 3,907 bitcoins for roughly $177.0 million between July 1 and August 23. Each bitcoin was purchased at an average price of $45,294, roughly 7% lower than current levels, but higher than…

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Citi Will Reportedly Start Trading Bitcoin Futures, Following Goldman Sachs’s Lead As Client Demand for Crypto Spikes By Ethan Wu Citigroup is actively recruiting traders to begin working with bitcoin futures, according to a new CoinDesk report. The report, citing two sources including one within the bank, says that Citi is angling to trade bitcoin futures contracts on the Chicago Mercantile Exchange and is awaiting regulatory approval. In May, Goldman Sachs began offering certain clients access to a bitcoin via a derivative called non-deliverable forwards. Citigroup is actively recruiting traders to begin working with bitcoin futures, according to a new CoinDesk report. The report, citing…

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