The city of Dubai seems to have launched its own cryptocurrency, called the DubaiCoin (DBIX). It is based on a public blockchain, meaning people will be able to generate their own DBIX by mining them. The price of the coin rose by over 1000% over the past 24 hours, according to Crypto.com. It was trading at around $1.13 at around 4 pm IST on May 27, up from an original price of $0.17
Cryptocurrencies have gathered the attention of many owing to the huge volatility this novel asset category saw only last week. Now, there are as many as 7000 digital currencies and some seem to have sprung up because of the last crisis, the massive sell-off these currencies are continuing to witness.
• FUD• FOMO• HODL• BUIDL• SAFU• ROI• ATH• ATL• DYOR• DD• AML• KYC
XRP, the seventh most valuable crypto asset by market value, is currently enjoying high pressure amid recent pullbacks seen in the price of the flagship crypto asset. At the time of writing, XRP was trading at $0.95929 up 38.22% for the day. It was the biggest one-day percentage gain since about 9 weeks ago.
The Central Bank of Nigeria (CBN) said there was no time the bank banned the activities of Cryptocurrencies in the country.
The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state. One scheme operates under the name “Binance Assets.” The regulator has found that all three platforms are fraudulent.
After years of skepticism, bitcoin is finally gaining mainstream credibility. Tesla (TSLA) said last month it will soon accept bitcoin as payment for its vehicles, and disclosed it had purchased $1.5 billion in the cryptocurrency as part of its cash holdings. Meanwhile, Uber (UBER) and Mastercard (MA) also said they plan to start accepting bitcoin. BNY Mellon and BlackRock are looking into bitcoin. And Jay Z and Twitter CEO Jack Dorsey announced they establishing a bitcoin development fund.
The world’s flagship crypto, Bitcoin, is presently on a strong bullish run in regards to breaching another all-time high of $58,400 before pulling back around $ 57,800 as weekly gains of just 20%.
It’s no longer news that the world’s most valuable crypto in recent days has been enjoying a record-buying spree among institutional investors, leading it to break above $1 trillion once again.
You want to open a crypto exchange account. After some googles, you notice that Binance is pretty good (In fact, Binance is the biggest crypto exchange in the world by trading volume), and wonder if you should just buy-and-hold bitcoin.