China’s Blockchain Love Affair Continues With New Financial Pilot

Another Chinese province, Hainan, joins the blockchain ecosystem with the announcement of a cross-border financial services platform. News of the platform’s pilot was announced on May 8. According to the local newspaper, Hainan Daily, the central government approved the initiative, allowing banks to provide loans to companies that look to export their products abroad. The measure seeks to reduce the bureaucracy of customs procedures, in addition to reducing the number of loan applications through regular channels. The pilot program will select two banks to carry out business through the blockchain-powered…

Former Google Analytics Advocate Bashes Crypto Space

In the midst of rising prices, Adam Singer showed his disapproval of the entire crypto space, describing it as cult-like.  “Bitcoin went from a creative economic experiment to cult of over exposed, get rich quick neo goldbugs rooting for the end of the world,” Singer tweeted on May 7. Everyone is “watching the same chart 24/7 and taking online victory laps that would make Jordan Belfort blush every time their only holding has a >5% move,” Singer added, referring to  the infamous “Wolf of Wall Street” scam artist.  Bitcoin prices…

Five Things to Do Other Than Worry About Coronavirus and Bitcoin Price

Let’s face it: Whether you’re an avid crypto enthusiast or just mildly interested in this blooming industry, chances are you’ve read, seen or heard more stories about the coronavirus and the Bitcoin (BTC) halving than you’d probably like to.  In all fairness, the coronavirus led to the world has collectively agreeing to press pause in an unprecedented manner, so the fact that a global pandemic happens to be taking place around the same time as the most important event in crypto means that full-on, 24/7 media coverage is to be…

Unless Outlawed, Every Country Recognizes Crypto Payments

In an exclusive interview with Cointelegraph, Albert Isola, Gibraltar’s minister for digital and financial services, argued that every country that respects contract laws recognizes crypto payments in the absence of regulation that prohibits them. On the question of whether Gibraltar legally recognizes crypto-asset payments, Minister Isola stated: “Yes. [T]he transfer of crypto assets and crypto payments [are] already happening.” “On the question of whether they are recognized, I don’t believe there is a law on this planet, other than those that have specifically excluded it, that will not recognize the…

Google Searches for ‘Bitcoin Halving’ Skyrocket to Unprecedented Numbers

Google searches for “Bitcoin halving” have hit an all-time high, far exceeding the spike associated with the previous halving event by 350%. Searches for the Bitcoin (BTC) halving event have reached 100 on Google’s normalized scale, indicating their highest-ever value. At the time of the last halving in 2016, this value was at 28. This means that the current level of interest is nearly 360% higher than it was four years ago. Google searches for “Bitcoin halving”. Source: Google Trends. Still a bear market The previous halving, which decreased the…

Bitcoin Acceptance Skyrockets in Venezuela Amid Hyperinflation Crisis

Over 20,000 shops and enterprises in Venezuela will reportedly start accepting crypto by June 1. This news was made available as part of an effort to drive crypto adoption in the hyperinflation-stricken country.  Earlier today, Panama-based cryptocurrency merchant gateway startup, Cryptobuyer, announced a partnership with Venezuelan company, Mega Soft, which processes payments for thousands of local businesses via its platform called “Merchant Server”.  The platform will now accept Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Litecoin (LTC), Tether (USDT), and dozens of other cryptocurrencies along fiat, thereby adopting the technology on…

“I Can’t Wait to Throw Up Less Bitcoin,” Says Bitcoin Cartoon Hero

Bitcoin from the Youtube cartoon series “Bitcoin and Friends” shared his feelings on the upcoming halving and a bullish view of his own future.  After falling sick briefly after a short trip to Wuhan, the cartoon hero is “alive and kicking.”  Bitcoin is looking forward to the halving which will allow him to throw up less Bitcoin – that is how the appearance of new Bitcoin is represented in the show.  “Throwing up 12 and a half Bitcoin every 10 minutes really wears down on my throat.”  He also ironically commented on…

66% of ETH Hodlers Plan to Stake at Least Some of Their Coins

Ethereum (ETH)-focused blockchain technology firm, ConsenSys, has published a report looking at the staking and custody preferences of ETH holders. The report finds that two-thirds of Ethereum investors plan to stake their coins once the first phase of ETH 2.0’s roll-out is completed. Interestingly, ETH holders who plan to run their own validator nodes are expecting to receive lower annualized rewards than those who intend to stake through a third-party provider. Staking preferences indicate counterparty risk thresholds Of the 287 survey respondents, the largest segment stated that they plan to…

Bitcoin Went Parabolic The Last Time This Happened

The number of active Bitcoin (BTC) addresses just broke an important plateau. If history is anything to go by, this metric may indicate that we’re in for a parabolic bull run. On May 7, the number of active Bitcoin addresses exceeded 1 million for the first time since June 2019, when the price eclipsed $13,000. Prior to that, there have only ever been this many active addresses on the network during the historic bull run in late 2017. Number of Active Bitcoin Addresses. Source: Glassnode Surging interest in Bitcoin The…