The surge came on the heels of positive comments from Elon Musk as well as on news of potential use by Amazon, Twitter. Cryptocurrencies popped to the top of recent ranges as short-sellers bailed out in the wake of a strong week and traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment. Bitcoin rose Monday as far as 12.5 percent to hit $39,850 – its highest since mid-June – during the Asia session, while ether hit a… Source link

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Twitter CEO Jack Dorsey says that bitcoin will be a big part of the company’s future. “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet,” he said. Bitcoin Set to Be a Big Part of Twitter Twitter announced its quarterly earnings Thursday that beat analysts’ forecasts. During the… Source link

In T-minus 10 days, the Ethereum blockchain will undergo its 11th backward-incompatible upgrade, also called a “hard fork.” This hard fork, dubbed “London,” contains five Ethereum Improvement Proposals (EIPs), each featuring code changes aimed at optimizing and improving the world’s second-largest cryptocurrency by market capitalization.  Of these five EIPs, EIP 1559 has been the most controversial among Ethereum stakeholders due to its radical redesign of the network’s fee… Source link

What happened: The largest Ethereum-based (CRYPTO: ETH) decentralized cryptocurrency exchange has delisted several tokens ahead of anticipated regulatory scrutiny. Uniswap has removed Tether Gold and tokenized stocks from crypto derivatives platforms like Synthetix. The move by Booklyn-based Uniswap Labs is in response to US laws preventing the company from selling certain investments. Why it’s important: The delistings come after an international crackdown on Binance, the world’s largest… Source link

Blockchain analytics firm Santiment says Litecoin (LTC) is experiencing a strong wave of accumulation from whales, or wallets with at least 1,000 to 100,000 LTC. In a new report, Santiment says that Litecoin whales have increased their holdings by roughly 270,000 LTC, or about $30,000,000 since the beginning of July.   The crypto insights firm also observes that the activity on the Litecoin network is surging despite the grinding bearish price action. “Despite a -13.8% drop in… Source link

The Microsoft 365 Defender Threat Intelligence Team on Thursday published a detailed look at the LemonDuck and LemonCat malware used to mine the Monero cryptocurrency, among other things, after gaining access to vulnerable devices. Microsoft said devices in “the United States, Russia, China, Germany, the United Kingdom, India, Korea, Canada, France, and Vietnam” are most frequently affected by LemonDuck. The malware exploits vulnerabilities in both Windows and Linux, too, which helps it cast… Source link

What happened: Following four days of upward momentum traders are now looking to see how the price of Bitcoin (CRYPTO: BTC) will react as it nears a test of the 50-day exponential moving average. The price of the cryptocurrency dropped below the key average in May of this year and the level (currently $35,115) has now become resistance. Previous attempts to reclaim the 50-day EMA as support have failed since the price of BTC plunged from an all-time high of almost $65,000 in mid-April. Why… Source link

Top crypto analyst Nicholas Merten is mapping out bullish scenarios for UNI, the native cryptocurrency of the decentralized exchange Uniswap.   In a new video, Merten tells his 463,000 YouTube subscribers that UNI/Bitcoin is currently bouncing from a key support level. “Uniswap has been generally holding, albeit for a few exceptions where the wicks break a bit lower. Every time we get towards this range [0.0005 Bitcoin (BTC) or $16], buyers come in. Price doesn’t live below… Source link

I’ve never quite understood why cryptocurrencies are worth anything. Of course, the untraceable payments are worth a lot to ransomware hackers, cyber criminals and money launderers. But dollars, euros and yen are backed by nations’ respective treasuries. If someone invents a crypto currency, any value is based solely on convincing others it has value. But is it a usable means of exchange? International banking officials say cryptocurrencies such as Bitcoin are speculative assets, not… Source link