Markets

President Vladimir Putin of Russia has signed a new law that will prohibit the use of cryptocurrency as a payment means in the country by 2021. Meanwhile, the Russian government recently deployed blockchain technology for its constitutional amendment.Crypto as Payment to Become Illegal in 2021According to a report by local news outlet RIA on Friday (July 31, 2020), the bill signed by President Putin will prevent citizens from using crypto to pay for goods and services in Russia. The bill...

In recent years, many of you who are interested in crypto, probably have noticed the continuous growth of the number of new exchange products that help earn from lending and margin trade.In case, there are unknown terms, a short note:Margin trading is trade with the help of borrowed funds. Turning to the details,  when a trader takes out a loan on collateral and sell borrowed funds. After that, if the rate of sold coins is dropped, a trader buys borrowed funds with a lower rate and pay back...

Bitcoin has been experiencing some extremely bullish patterns as of late. The currency has managed to spike by roughly $2,000 in just a matter of weeks, jumping from the low $9,000 range beyond $11,100 at the time of writing.The Bitcoin Price Surge Could Easily ContinueThe currency recently rose by more than 12 percent in a single 24-hour period, marking the highest it’s been in more than six months. This represents a nice change for the world’s number one cryptocurrency by market cap, which...

It looks like Bakkt is experiencing a sudden surge in business.Bakkt Is Pulling a Few Unexpected PunchesRecently, it was reported that the institutional crypto trading platform owned and governed by the Intercontinental Exchange (ICO) was doing rather poorly as of late, having traded zero bitcoin options since mid-June. Now, more than 30 days later, that still hasn’t changed.However, the platform has witnessed a surge in bitcoin futures trading. Just last Monday alone, Coin Market Cap...

Following a year-long partnership with Ripple, MoneyGram International Inc (NASDAQ: MGI) in its Q2 2020 report revealed that it got $15.1 million from the blockchain news.In its Q2 2020 performance report released on July 30th, MoneyGram International Inc (NASDAQ: MGI) has revealed that it received $15.1 million from Ripple, the blockchain firm that widely uses the XRP coin in its solution. As an existing partner of the crypto-centric firm, the $15.1 million sum was categorized as “market...

BitcoinBitcoin saw a massive 17.7% price surge over the past week. During the past fortnight, Bitcoin managed to break above a symmetrical triangle pattern as it started to push higher to reach $9,815 by the start of this week.Bitcoin then went on to explode above $10,000 as it reached as high as $11,400 on some exchanges. The coin has struggled to break this resistance over the past 4-days and must overcome it for the bullish run to continue.Looking ahead, if the bulls can break resistance...

Pfizer (PFE) stock price was rising in the pre-market but is down now as the market opened.One of the world’s largest pharmaceutical companies Pfizer Inc (NYSE: PFE) anticipates PFE stock to gain value, as it prepares to supply Japan with 120 million doses of its BNT162 MRNA based vaccine. Pfizer Inc partnered with BioNTech company to develop the vaccine which has shown signs of treating coronavirus patients successfully.PFE stock was trading around $38.80, up 0.15% in the pre-market. Having...

It’s a period of good news for Ethereum around its anniversary. Even its futures market is experiencing an unprecedented boost in July.The Ethereum token, Ether (ETH), is trading above $340 on Coinbase as the platform continues to gain attention as the most prominent smart contract blockchain. Ethereum is celebrating its fifth anniversary this July and this has coincided with a period in which the price of the token rose by 50% within a month.The digital currency traded at $225.5 at the...

TikTok has decided to support the next generation of content creators on its platform with a $2 billion TikTok Fund.Chinese video-sharing and social networking platform TikTok has announced the launch of its Creator Fund that is meant to motivate its content creators. According to a blog posted on its official website, the company said that it expects this Fund to grow to over $1 billion in the U.S. in the next 3 years, and more than double that globally.This is an ambitious plan that is seen...

The latest data suggests that Bitcoin’s recent bullish stint has excited large scale investors. Whales have been accumulating copious amounts of BTC in anticipation of a larger rally. Also, there’s an almost 38 percent increment in Bitcoin addresses holding more than $1 million worth of BTC.Bitcoin Hodler Net Position Change Remains PositiveData from on-chain analysis and crypto market insights provider, Glassnode suggests that Bitcoin’s recent rally hasn’t induced much of a selling reaction...