Bitcoin sustained its upward trend from last week and rose around 5 percent to near $7,800 Monday morning.
The Bitcoin dominance rate hit 46 percent on CoinMarketCap for the first time since December, suggesting that the demand for the top cryptocurrency is rising.
Market sentiment improved on hopes of institutional money flowing into crypto assets and a possible regulatory approval for a Bitcoin ETF as soon as August.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Bitcoin Price Hits Two-month High Despite Sunday Sell-off
Bitcoin is recovering from a sudden decline in price triggered by a sell-off at the weekend. Monday’s momentum is showing signs of inching towards its next target of $8,000. After a 20 percent rally seen in the last seven days, the most popular cryptocurrency clocked a two-month high of $7,820 Monday. Read more…
India Top Court Final Hearing On Banks’ Crypto Ban Set For September 11
The Supreme Court of India has set September 11 as the final hearing date on a set of writ petitions challenging the central bank’s ban on the country’s commercial banks from providing services to investors in digital currencies. The apex court resumed hearing on petition by the Internet and Mobile Association of India (IAMAI) Friday. Read more…
Spanish Bank BBVA Signs Blockchain-based Corporate Loan With ACS
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Spanish bank Banco Bilbao Vizcaya Argentaria SA or BBVA, signed a new corporate loan using blockchain technology with Spanish civil engineering company ACS Group after the success of its first pilots of a loan and a corporate credit facility in late April. BBVA signed a 100-million-euro or $117 million, long-term bilateral corporate loan with ACS to be used for general financial needs. Read more…
Hashflare Shuts Down Bitcoin Mining Service Citing Weak Profit
Hashflare, a cloud cryptocurrency mining platform, abruptly shut down bitcoin mining service and canceled all active bitcoin contracts, citing weak profit amid difficult cryptocurrency market. In a Facebook post, the company noted that BTC mining continues being unprofitable and it started disabling SHA hardware on July 18. On July 20, the company stopped the mining service of active SHA-256 contracts. Read more…
India Telecom Regulator Asks Operators To Use Blockchain To Check Pesky Calls
The Telecom Regulatory Authority of India (TRAI) issued a directive to telecom operators to use blockchain technology to curb pesky telemarketing calls and SMSs, which are made despite the “Do Not Disturb” choice of customers. The use of blockchain technology will ensure that telemarketing calls and messages are sent out only by authorized entities and are directed at those who have subscribed to them. Read more…
As of 10.14 am ET on Monday, Bitcoin was up 3.37 percent at $7,709.10, while Ethereum was lower by 0.88 percent at $461.53 on Coinbase.
Read mpore at: RTT News