An Evergrande slump
Another week, another ‘flash crash’. Cryptocurrencies seem to have followed in the footsteps of stocks with the fall in prices. Could the drop be a spillover from the Evergrande saga? Sure feels like it. Bitcoin and ethereum fell to as low as about US$40k and US$2.7k respectively. Regardless of the movement, hodlers hardly felt the pinch as both has bounced back more than 10% and are trading above US$44.5k and US$3.1k at time of writing. Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. It is now available to customers in the U.K. They are able to buy, hold, and sell some major cryptos. Welcome mainstream adoption. El Salvador has recently bought the dip, adding another 150btc to its hoard after falling below US$45k. The country now holds 700 bitcoin. Is this the beginning for bitcoin to be an international reserve currency? We sure hope so.
Institutional interest in digital assets continues to grow rapidly. This shows that cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) are here to stay. Traditional financial institutions are seeing the urgent need to support digital assets. This has led to giants like Mastercard and Visa to offer encrypted credit and debit cards and partnering with crypto organizations for better security. Getting rebates and rewards in cryptocurrencies with traditional credit cards! Moving on to sustainable energy, bitcoin mining will only contribute to 0.9% of global carbon emissions even if the price were to hit US$10 trillion by 2030. Many miners have relocated to countries that offer more environmentally friendly power sources, such as Iran or the United States. Bitcoin going green for the mother nature.
Natalie Brunell, “Once you see the world through the lens of bitcoin, you can’t unsee it.” Invest wisely, avoid leverage and stay safe.
Paypal Completes Rollout of Crypto Offering in UK
Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. Paypal Crypto is now available to customers in the U.K. allowing them to buy, hold, and sell four kinds of cryptocurrencies.
Payments giant Paypal Inc. announced Friday that it has completed the rollout of its crypto offering in the U.K. The rollout began in late August when the company announced the launch of its crypto service in the U.K.
El Salvador buys 150 bitcoins on dips
Central American country, El Salvador, bought 150 additional bitcoin (BTC) on Monday after the world’s oldest cryptocurrency slumped by nearly US$4k to break below the US$45k level amid sell-off in the global equity markets.
Shares in Asia and Europe fell, while the US equity futures traded in the red on China Evergrande Group’s debt woes.
Adapt or Die: Payments giants partner with crypto firms to ensure security
Institutional interest in digital assets continues to grow rapidly, demonstrating that cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) are here to stay. At the same time, traditional financial institutions are starting to understand the urgent need to properly support digital assets. For example, although payment giants such as Mastercard and Visa currently offer encrypted credit and debit cards, these companies are also partnering with crypto organizations to enable better security and confidence for consumers making transactions. transactions with digital currencies.
Bitcoin mining will contribute just 0.9% to total global emissions by 2030, even in the most bullish price scenario: NYDIG
Bitcoin mining will only contribute to 0.9% of global carbon emissions even if the coin's price were to hit a mind-boggling $10 trillion by 2030, according to a report by crypto technology company New York Digital Investment Group (NYDIG) earlier this week.
Bitcoin's emissions are mostly driven by the carbon intensity of the energy sources and consumption of the miners that scour the network. Bitcoin creation depends upon a "proof of work" system, where miners compete to assemble transactions on the blockchain and this requires vast amounts of power, much of it currently derived from fossil fuels.
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