Business

11.4 M Bitcoin Held As Long Term Investment

[ad_1] According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians.Breakdown of Bitcoin supply. Source: Chainalysis.Digital goldThe company concluded that the breakdown of Bitcoin’s supply makes it similar to gold, supporting the asset’s status as digital gold. They clarify, however, that it is the 3.5 million BTC that is actively traded which supports the price:“But this digital gold is
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Ethereum DeFi Is “Going Parabolic” But ETH Isn’t Following: Investors Guess Why

[ad_1] For months now, decentralized finance has been deemed one of Ethereum’s “killer use cases.” The concept of migrating financial services onto a relatively decentralized platform has been deemed a genius idea by many investors. Over the past few weeks, this has culminated in rapid growth in DeFi protocols. According to DeFiPulse, there is now in excess of $1.3 billion of value locked in Ethereum DeFi applications. Yet ETH has
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Ernst & Young Launches Application to Help US Crypto Investors With Tax Filings

[ad_1] Ernst & Young (EY) has introduced a new application that helps U.S. cryptocurrency traders calculate and file their taxes with ease. The EY Cryptoprep app, a Software as a Service (SaaS) web-based crypto tax engine, helps users calculate crypto-related gains and losses that have to be reported on Form 8949, a form used to report sales and exchanges of capital assets. According to a June 18 statement from EY,
BLOCKCHAIN

Blockchain Tech May Soon Fuel Medical Tourism in South Korea

[ad_1] In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set.According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the country in terms of population. The group’s main goal is to strengthen the medical tourism sector.The consortium includes Pusan
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Analyst: Bitcoin Could Continue Flatlining as it Gears Up for Explosive Volatility

[ad_1] Bitcoin’s unrelenting trading range has offered investors few insights into its near-term trend This range has persisted since the start of May, and isn’t showing no signs of letting up anytime soon Overnight sellers did attempt to shatter the lower boundary of this trading range, although this was quickly reversed by ardent buyers who have since pushed it back to $9,400 It now appears that this consolidation trend could
Business

UNICEF Cryptocurrency Fund Makes Its Largest-Ever Investment

[ad_1] Today eight technology companies from seven different emergent economies will receive an investment of Ethereum cryptocurrency from the UNICEF Cryptocurrency Fund.UNICEF’s crypto-enabled investment vehicle has given these companies 125 ETH, worth approximately $28,600, to use in scaling or prototyping their respective technologies over the next six months. Companies receiving this investment have already received as much as $100,000 in fiat currency from UNICEF’s Innovation Fund.One such company, Afinidata, offers
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Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time Held

[ad_1] Market data from Glassnode shows that bitcoin holders have increased their positions by 233,000 BTC since January 1, 2020. However, when it comes to holders making money at the current price, bitcoin cash and bitcoinsv have performed better and the concentration of large holders is larger too. As far as “holders’ composition by time held” statistics bitcoin cash outshines BTC by 27% for the last twelve months. Just a
Business

As Crisis Mode Fades, Regulators Look Kindly on Crypto, June 12-19

[ad_1] Editor’s note:The week has been remarkably active for policy, possibly as a result of economies showing signs of heading slowly back to normal. While crisis remains, it seems like everyone has gotten numb to crisis mode.Recent news has been quite kind to crypto all over the world. We may in fact be seeing a trend that many predicted back in March when COVID-19 lockdowns first took hold. Beyond the
BLOCKCHAIN

Robinhood Vows to Improve Platform Following Customer Tragedy

[ad_1] Alexander Kearns, a 20-year-old customer of stock and cryptocurrency trading platform, Robinhood, committed suicide on June 12. This tragedy reportedly occurred after an erroneous negative balance of more than $730,000 appeared in Kearns’ account. This error has prompted the platform to take measures in order to improve the platform’s offering.According to the official announcement, Robinhood is considering additional criteria and education for customers seeking level 3 options authorization. They
Business

Another Bitcoin Scam Hits Canada

[ad_1] An alleged Bitcoin (BTC) scam is now reportedly targeting residents of Winnipeg, Canada. A local grocery store owner warned that many of his customers were victims of the scammers.According to Global News, Husni Zeid placed a large sign on the Bitcoin machine he has in his store, asking people to exercise caution with regard to phone scams that ask for fake Bitcoin investments.Zeid told the local media outlets:"A lot