The announcement last week by Ripple of a “major expansion of its presence across Brazil” should be viewed not just as a press release by a company but a broader sign of institutional digital asset adoption in one of the world’s fastest-growing financial markets. And that adoption will only accelerate if Trump ally and crypto friend Flávio Bolsonaro is elected president this Fall. According to Ripple’s announcement, Ripple will seek a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil (BCB). That accords to Brazil’s new virtual asset regulatory framework and also reflects the “compliance-first vibe” that has been Ripple’s hallmark over the company’s decade-plus history. With…
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Weekly Bitcoin Review
Issues with El Salvador’s Chivo wallet and Bitcoin dominance diminishing
Bitcoin dominance waning The price of Bitcoin has seen a solid recovery over the last week. It currently sits around $51,200. Yet other assets have once again outperformed Bitcoin this week. Cardano (ADA) is up 23% this week, Polygon (MATIC) is up 25% in the week, and Polkadot (DOT) price is up over 30%. In contrast, Bitcoin price is up 9% this week, which is still nothing to scoff at. This does show that coins on smaller networks are beginning to gain more traction, lowering the dominance Bitcoin has shown over the cryptocurrency market for its entire run. However, this is not due to a lack of people buying or…
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Our Weekly Bitcoin Review
Odell Beckham Jr’s crypto football salary, the Texas coin-mining boom, and a Bitcoin City in El Salvador
In the cryptocurrency space, no player or asset controls the market as a whole more than Bitcoin (BTC). With this new weekly feature, Modern Consensus will give the latest updates and big news stories from the previous week. The price of Bitcoin currently sits around $56,000, while it was at a high of $64,000 earlier in the week, a significant price drop. Sports Odell Beckham Jr., a wide receiver for the Los Angeles Rams and an extremely popular football player, is now accepting his entire NFL salary in Bitcoin. With a $4.25 million salary, this equates to a little more than 75 BTC a year. He announced this big change…
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Must-reads for August 31, 2018 (Labor Day Weekend): Ethereum futures, missing petros, useless bitcoins, Walmart robots, and more
Here are the crypto stories you should be watching today
Cboe, the exchange group behind the first market for bitcoin futures, is telling market makers that ether futures will soon be live (Business Insider) A source has told Business Insider that the CBOE, which launched the first U.S. regulated futures on bitcoin, is looking to launch an ether-based futures contract as soon as December. As of last week, the total open interest in the CBOE’s bitcoin contract equaled only 4,069 BTC, or a little more than $28 million. Special Report: In Venezuela, new cryptocurrency is nowhere to be found (Reuters) The Venezuelan government’s much-hyped oil-backed cryptocurrency known as the petro is tough to find. It’s not in exchanges and…
