The price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000, with the price stalling on the next movement. Despite so many expectations of the price having a short squeeze to a range of $21,600 before Bitcoin (BTC) next moves down, this wasn’t the case as the price broke below key support of $19,000. (Data from Binance) Bitcoin (BTC) Price Analysis On The Weekly Chart Weekly BTC Price Chart | Source: BTCUSDT On Tradingview.com The price of BTC has had difficulty…
Day: September 7, 2022
How high transaction fees are being tackled in the blockchain ecosystem
High transaction fees have been a long recurring issue for users on popular blockchain networks like Ethereum and Bitcoin during periods of increased demand. However, there are protocols, platforms and methods that help users to reduce costs. What are transaction fees? Transaction fees are fees that users pay to send a transaction or interact with a smart contract on a blockchain network. While gas fees can refer to transaction fees on any blockchain, the term is mainly used to describe the Ethereum network transaction fees. Transaction fees are paid in…
A year of ups and downs
Sept. 7, 2022 marks exactly one year since El Salvador became the first country in the world to adopt Bitcoin (BTC) as legal tender by enforcing the Bitcoin Law. Advocating for Bitcoin as legal tender last year, El Salvador President Nayib Bukele promised that Bitcoin adoption would benefit the 70% of the local population that had a lack of access to banking services as of 2021. The Salvadoran government also touted Bitcoin as a tool to attract foreign investment, create new jobs and cut reliance on the U.S. dollar in…
Circle CEO Allaire Supports Binance Stablecoin Decision
Jeremy Allaire, the co-founder and CEO of USD Coin (USDC) stablecoin issuer Circle, has responded to the Binance cryptocurrency exchange’s move to stop supporting USDC trading. The Circle CEO said on Tuesday that Binance’s upcoming changes could help make USDC the standard stablecoin rail between centralized exchanges (CEXs) and decentralized Exchanges (DEXs). Allaire thinks that the development is not only good for Binance but also an ultimate benefit to USDC utility and adoption. USDC has a higher market cap than BUSD and also enjoys a greater volume and usage outside of Binance’s…