‘Risky’ Tokenized Real Estate Platform Hits New Heights After Paypal Ban

U.S. tokenized real estate platform RealT hit record highs in sales and new users after it turned to crypto-only transactions, following a ban by payments platform Paypal in April. The Ethereum-based startup tokenizes and sells U.S. property, allowing users around the world to share in property ownership for as little as $50. According to RealT’s twitter account, 62% of purchases on their platform were made via Paypal prior to the ban. Over the course of a year, there had been more than $800,000 Paypal transactions, with only four disputes raised…

Beware Bears: Bitcoin Above $9,500 Could Trigger A Massive Rally

Bitcoin is trading in a positive zone above $9,150 and $9,200 against the US Dollar. BTC could start a strong rally if there is a clear break above $9,400 and $9,500. Bitcoin is slowly rising towards the key $9,400 and $9,500 resistance levels. There are high chances of a strong surge if the bears fail to defend $9,500. There is a major bullish trend line forming with support near $9,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct a few points, but…

A Single Chinese Region Accounts for One-Third of Global BTC Hash Rate

The Cambridge University’s Centre for Alternative Finance (CCAF) has launched a Bitcoin Mining Map that provides the average monthly hash rate produced by each country across the globe. The map is informed by the data of mining pools ViaBTC, Poolin, and BTC.com. Cambridge claims the platform is the first to publicly offer a geographic breakdown of Bitcoin (BTC) hash power distribution. China represents 65% of hash power Unsurprisingly, the map shows the vast majority of hash power is located within China — with 65.08% of the global total. That’s almost nine…

Here’s How Big BTC Whales Are Preparing For Bitcoin’s Halving

The transparency of blockchain technology can be used to determine investors’ sentiment towards a given asset. By evaluating what large Bitcoin holders are doing, for instance, it is possible to estimate future price slumps or bullish impulses. Under this premise, Santiment, a behavior analytics platform, maintains that large BTC whales are preparing to push prices further up before dumping their holdings on unaware crypto enthusiasts. Big Players Prepare for the Halving Medium size holders with 1 to 10 BTC have been accumulating heavily over the past few months despite the…

There’s a Perfect Storm Brewing For Bitcoin on a Weekly Time Frame

Bitcoin has been on a remarkable rally over the past few weeks. The asset has mounted past resistance level after resistance level, recently crossing $9,000. Market cynics have said that BTC’s recent inability to surmount the key $9,500 resistance is indicative of a top. Though analysts are starting to agree that there’s a growing converge of positive signs for Bitcoin. The strong recovery in the price of BTC since March’s $3,700 lows has allowed it to print a number of bullish signs. One top trader identified some of these signs on…

Guide Highlights Patchwork of Crypto Tax Laws in Latin America

Research from Latin American crypto exchange Buda has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in the region. Buda has provided a series of tax guidelines outlining measures crypto traders should take into consideration when looking to comply with the authorities in Chile, Colombia, Peru, and Argentina. In various countries in the region, there are different interpretations and concepts regarding what type of good or asset is considered to be a cryptocurrency. Crypto legal definitions in Latin America Chile, for example, considers any crypto…

Bitcoin Price Knocks Out Key Resistance Level as Bulls Target $9,500

After spending the last few days battling to hold prices above the $9,000 resistance, Bitcoin (BTC) price made a strong move by surging to $9,395. The 3.65% move took place on a high volume surge but the price quickly pulled back to $9,126 before recovering to 9,370 at the time of writing.  With just 4 days and 16 hours left before the Bitcoin halving, investors will be closely watching to see if the top ranked crypto-asset on CoinMarketCap can push above the $9,500 resistance to reach $10,000.  Crypto market daily…

Bitcoin Is a Digital Asset Says Intermediate People’s Court in China

The Shanghai No. 1 Intermediate People’s Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news.  The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means should be returned or compensated at a discount, says the local news.   All started with a robbery According to the report, an international married couple in Shanghai, Pete and Xiaoli Wang, were robbed at their apartment by four people…

New Bill Would Presume Digital Assets Not to Be Securities in California

Per new updates to a bill to amend California’s securities law introduced in the state’s legislative body on May 5, the largest economy in the United States and the world’s tech hub may be providing new clarity to crypto owners. Formalizing the Howey Test for crypto? Updates to the definition of what constitutes a security include: “Investment contract, except any digital asset that meets one of the following criteria is presumptively not an investment contract.” The criteria named are more or less a line-reading of the Howey Test — the…

Most of Cash App’s $528M Revenue in Q1 Came From Bitcoin

On May 6, Square released its filings for the first quarter of 2020. The filings publicized revenue for Square’s Cash App, a majority of which came from Bitcoin. The numbers for Q1 and Bitcoin’s role $306 million of Cash App’s $528 million revenue for the first quarter of the year came from Bitcoin.  Despite those numbers, Bitcoin composed a small fraction of Cash App’s profit, only $7 million of $183 million total profit. The company explained why it separated Bitcoin revenue as being more of a core mission: “We deduct…