Day: July 14, 2020

Data now shows that the aggregate market valuation for all the ERC20 tokens in existence has surpassed the market capitalization of Ethereum’s native coins. According to data, the net worth of the ERC20 token ecosystem is roughly $2.5 billion larger than the $26.7 billion Ethereum valuation. The cryptocurrency community has been discussing the aggregate market valuation for all the ERC20 tokens ever created versus the Ethereum market capitalization. For instance, the Defiant News contributor, Camila Russo, tweeted about how ERC20 tokens recorded on Etherscan surpassed the net worth of all…

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A panel of experts is predicting the price of bitcoin will rise to $10,337 by September before adding a further $2,611 to end the year at $12,948. The findings are drawn from a Finder Cryptocurrency Predictions Report for July 2020 and the latest figure is roughly $2,500 less than the price predicted in the April report. In the report, 28 panellists drawn from academia, crypto research firms, and hedge funds are also asked to give their sentiments about bitcoin. Some 50% of those surveyed believe now is the best time…

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The U.S. Department of Defense and the U.S. Army have requested information on web-based cryptocurrency tracking tools. The tools must enable U.S. government agencies worldwide to conduct in-depth investigations into the source of crypto transactions and provide multi-currency analysis from bitcoin to other top cryptocurrencies. US Government Wants to Track Crypto Transactions The U.S. Department of Defense and the U.S. Army have posted a request for information (RFI) entitled “cryptocurrency investigative web-based application.” The request was published on the U.S. government’s website on July 10. “All information submitted in response…

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Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters undermined the rights and protections of American taxpayers. The advocacy group stressed that specifically IRS Letter 6173, essentially violated tenets within the Taxpayer Bill of Rights. The U.S. government has been cracking down on digital currency operations and users for a few years now.…

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Peer-to-peer (P2P) crypto exchange Paxful reported Tuesday that its bitcoin trading volumes climbed 35% to $1.1 billion during the first six months of 2020 compared to $817 million a year ago. More than $182 million worth of bitcoin (BTC), on average, was traded on the platform every month between January and June this year, it said. Nigeria, U.S.,Ghana, India, and Kenya led the growth, with emerging markets rising fastest. To date, Paxful has accumulated 4.5 million users and reached a total $4.6 billion trading volume for BTC since it started…

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Iran has reportedly issued permits for 14 bitcoin mining farms and will cut up to 47% off of the electricity tariff in order to support authorized cryptocurrency mining centers. Crypto miners will soon have to register with the government. Iran Licenses More Crypto Mining Farms The Islamic Republic of Iran has reportedly issued permits for 14 cryptocurrency mining farms, each with a capacity of 300 megawatts, Tehran-headquartered Mehr news agency reported Sunday. Cryptocurrency mining has been an authorized activity in Iran since July last year and the country’s Ministry of…

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The giant fund manager Fidelity International holds roughly 10.6% stake in the bitcoin mining company Hut 8. For six years now, Fidelity, the firm that currently manages $300 billion on behalf of its customers, has been mining the cryptocurrency bitcoin. In May 2017, news.Bitcoin.com reported on Fidelity integrating with Coinbase, mining bitcoin, and even accepting the digital asset at the firm’s cafeteria at its headquarters. Fidelity has been mining bitcoin since 2014, and over the years the firm has increased its stake in this growing industry. On June 10, a…

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