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It’s been a complicated week for bitcoin‘s adoption story. In particular, Michael Saylor and Elon Musk gave more momentum to the idea that bitcoin can be used in commerce: Musk signaled potential for Tesla’s return to accepting bitcoin payments, and Saylor called the Bitcoin network a rail system for the global dollar.  The best bellwether for bitcoin’s use in commerce is the Lightning Network. Briefly, Lightning is a commerce-friendly service that sits on top of Bitcoin. It allows… Source link

China’s largest bitcoin producing provinces have intensified a crackdown on cryptocurrency mining in the latest sign of how global authorities are toughening their stance on the rapidly growing digital asset markets. The country’s bitcoin mining operations, the power-hungry process of computational puzzle-solving that creates new units of the virtual currency, have been in retreat since May when the government confirmed a ban on cryptocurrency transactions and warned of… Source link

Ether (ETH) price outperformed Bitcoin (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%. Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes some critical factors, including the fast advance of smart-contract network… Source link

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Reuters Ex-Tesla president sold stock worth $274 million since June 10 -SEC filing Long-time Tesla Inc executive and president Jerome Guillen, who left the company earlier in June, has sold an estimated $274 million worth of shares after exercising stock options since June 10, according to a filing with the Securities and Exchange Commission (SEC). The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he… Source link

Ethereum Ethereum slid by 5.85% on Friday. Reversing a 0.21% gain from Thursday, Ethereum ended the day at $2,234.47. A mixed start to the day saw Ethereum rise to an early morning intraday high $2,377.80 before hitting reverse. Falling short of the first major resistance level at $2,453, Ethereum slid to a late afternoon intraday low $2,125.12. Ethereum fell through the first major support level at $2,300 and the second major support level at $2,227. Steering clear of sub-$2,100 support levels,… Source link

At block number 10,499,401, which is expected to be mined next Thursday, the Ethereum test network Ropsten will undergo a backward-incompatible upgrade dubbed “London.”  This is the first of three test network releases for London in the lead-up to a main network activation tentatively scheduled by Ethereum developers for mid-July. Included in London are five code changes, also called “Ethereum Improvement Proposals” (EIPs). In a blog post released Friday, Ethereum Foundation’s Tim… Source link

Bitcoin declined about 5% over the past 24-hours as the price broke below $36,000 support. The world’s largest cryptocurrency by market capitalization is still up about 23% year-to-date, although some traders are concerned about the looming ‘death cross,’ which could indicate a shift from a bullish to bearish price trend. The death-cross is defined by a cross of the 50-day moving average below the 200-day moving average, which could occur over the weekend. Still, some analysts remain… Source link

Bitcon and ethereum prices were down 4% on Friday. Photo: Yuriko Nakao/Getty Images The cryptocurrency market saw a minor sell-off on Friday morning, with bitcoin (BTC-USD) and ethereum (ETH-USD), the world’s first and second largest coins, down around 4%. Bitcoin, which is currently trading at $37,866 (£27,259), reached a level of $41,330 on 15 June, a key $41,250 resistance area, however, it has been ever decreasing since. This week it has been knocked by an announcement from the US… Source link

Bitcon and ethereum prices were down 4% on Friday. Photo: Yuriko Nakao/Getty Images The cryptocurrency market saw a minor sell-off on Friday morning, with bitcoin (BTC-USD) and ethereum (ETH-USD), the world’s first and second largest coins, down around 4%. Bitcoin, which is currently trading at $37,866 (£27,259), reached a level of $41,330 on 15 June, a key $41,250 resistance area, however, it has been ever decreasing since. This week it has been knocked by an announcement from the US… Source link