Bitcoin Blockchain Tech
ByAuthor J.D. SmithPosted on
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Twitter CEO donates 1 BTC to Bitcoin core development nonprofit

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Jack Dorsey, CEO of social media powerhouse Twitter, has donated 1 Bitcoin (BTC) to Brink, a nonprofit group focused on Bitcoin’s technological framework. 

“Honored to have received a 1 BTC donation to our developer funding efforts from none other than @jack!,” Brink’s Twitter account posted on Tuesday. At the time of publication, that Bitcoin is worth $46,824.

Reporting earlier this month showed the recently established organization receiving 503(c)(3) nonprofit status from the Internal Revenue Service, giving Brink a break on federal taxation.

The entity looks to further Bitcoin by helping out its developers, as noted on Brink’s website:

“Brink exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring.”

Dorsey has expressed interest in Bitcoin before. In 2020, he referred to the asset’s white paper as poetic. In the fall of 2020, Square — another outfit Dorsey leads — also unveiled allocating $50 million to BTC. Dorsey took the 16th spot on Cointelegraph’s list of the top 100 people in the crypto industry this year.

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Bitcoin Blockchain
ByAuthor J.D. SmithPosted on
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Bitcoin whale from 2010 moves 100 BTC for first time in 11 years

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A veteran miner has cracked open their 2010 stash of Bitcoin, with crypto analysts spotting 100 BTC being transferred from two wallets that had laid dormant for more than a decade.

Prior to today’s transaction, the addresses had not seen any activity since receiving a 50 BTC Coinbase reward each nearly 11 years ago, except for two incoming transactions worth just 0.00000547 BTC each that were sent to the wallets in the last six months.

The Feb. 25 transaction combined the two mining address outputs, indicating both addresses belong to the same owner. The two blocks were mined only a couple of hours apart on Jun. 10, 2010.

Bitcoin is currently trading for $49,800, giving the coins a combined value of nearly $5 million. With BTC trading for $0.08 when the coins were mined, the whale’s holdings have increased in value by 622,500 times.

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ByAuthor J.D. SmithPosted on
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Cross-chain bridges and DeFi integration are pushing these 3 altcoins higher

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The cryptocurrency market is showing signs of progress following a multiday sell-off that saw the total market capitalization drop by more than $400 billion as Bitcoin’s (BTC) price briefly fell below $46,000. 

While the majority of altcoins have entered a consolidation phase that includes a retest of underlying support levels, several projects have started to regain lost ground after new developments reignited investors’ optimism.

ADA/USDT

Cardano’s ADA started the year with a bullish spark that saw its price increase 624% from $0.165 on Jan. 2 to a high of $1.20 on Feb. 20. This week’s sharp correction pulled the price to a swing low at $0.80, but it is clear that traders bought the dip.

ADA/USDT 4-hour chart. Source: TradingView

Since hitting a swing low at $0.80, ADA’s price rallied 30% to $1.05 following the news that community members at Venus Protocol…
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Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

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Decentralized finance and the numerous platforms offering investment services have been the talk of the cryptocurrency sector for several months, and this has resulted in investors capturing spectacular gains for some of the top DeFi tokens like Uniswap’s UNI and AAVE. 

The fast-moving prices and 1,000% annual percentage yield on staked tokens elicited cheers from investors when the market was going up, but the recent selling pressure seen as Bitcoin’s (BTC) price dropped below $45,000 shows that the highest fliers are often the quickest to fall as traders rush to exit their positions and lock in their gains.

Daily cryptocurrency market performance. Source: Coin360

On Feb. 22, Bitcoin’s price entered a sharp corrective phase that saw the top digital asset pull back by more than 20% from its all-time high of $58,274. As this occurred, the majority of altcoins also saw double-digit corrections, and DeFi tokens…

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As Visa and Mastercard raise fees, merchants may look to crypto

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Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe fees. With two major card providers aiming to elevate rates, could crypto become an alternative? 

“Visa Inc. and Mastercard Inc. are planning to raise swipe fees for some types of credit-card purchases in April,” the Wall Street Journal reported on Wednesday, adding:

“Though invisible to consumers, they [interchange fees] are glaring to merchants, which often end up paying fees of about 2% of their customers’ credit-card purchases. The fees are set by the card networks, such as Visa and Mastercard. Merchants pay them to the banks that issue the cards.”

As credit card fees rise, other options will become more attractive to merchants. That includes crypto. Digital assets also incur transaction fees, but some may be cheaper alternatives than the current credit card scene, especially if card fees continue rising.

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Golem (GLM) price rallies 230% to hit a 3-year high after protocol upgrade

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Over the past few weeks, the price of Golem’s GLM network token saw a strong rally that pushed the token to a three-year high at $0.65. 

The altcoin also underwent a strong pump on Feb. 19, but most of the gains evaporated as Bitcoin (BTC) corrected below $45,000 during the past three days. Nevertheless, GLM still holds a 230% gain in February alone.

Golem is an Ethereum-based decentralized application that enables users to rent out computing power resources. Since November 2020, the project has been migrating from GNT to GLM tokens after deploying a new ERC-20 contract. Although most exchanges supported the move, it is still possible to find GNT activity and listings.

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CME Bitcoin futures numbers saw a 57% uptick in January

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Bitcoin’s price rose significantly in January. The Chicago Mercantile Exchange, or CME, also hit record Bitcoin (BTC) futures trading numbers in the same month. 

“In January, BTC average daily volume (ADV) reached a monthly record of 17,549 contracts (87.7K equivalent bitcoin),” a CME representative told Cointelegraph. Each CME Bitcoin futures contract is worth the value of 5 BTC paid out in dollars.

“In December 2020, BTC average daily volume (ADV) reached 11,179 contracts (55.9K equivalent bitcoin),” the representative added. “This represents a 57% increase.”

In January, Bitcoin rose from $30,000 up to almost $42,000, according to TradingView data. The month before, the asset had broken its longstanding record high of approximately $20,000, surging up to nearly $30,000 by the end of 2020.

“We are continuing to see robust interest in our Bitcoin futures contracts, with a record 528 accounts added in January, helping drive BTC average…

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