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The newly launched Purpose Bitcoin ETF surpassed even the most bullish expectations but how does it differ from Grayscale’s GBTC Trust? Since 2017, investors have been anxiously awaiting a Bitcoin ETF approval as the existence of such a fund was an important symbol of mass adoption and acceptance from the realm of traditional finance.  On Feb. 18, the Toronto Stock Exchange hosted the official launch of the Purpose Bitcoin ETF and the fund quickly absorbed more than $333 million in market capitalization in just two days. Now that the long-awaited Bitcoin ETF is here, investors are curious about how it will compete with Grayscale Investments GBTC fund. On Feb. 17, Ark Investment Management founder and CEO Cathie Wood said the likelihood that U.S. regulators will approve a Bitcoin exchange-traded fund has gone up. Although exchange-traded funds (ETF) and exchange-traded notes (ETN) sound quite similar, there are fundamental differences in trading, risks, and taxation. What is an

Bitcoin’s correction is accelerating, but a bounce off the 50-day moving average could give altcoins reason to rebound off lower support levels then move higher. Bitcoin ( BTC ) price has been correcting in the past few days and traders are curious to know whether this is a minor pullback or the start of a deeper decline. The problem is that no one has a crystal ball and analysts can only point  to critical support levels that may hold based on historical data and evidence.  However, in a bear phase, the price tends to slip below key support levels as traders panic and sell out of fear, similar to how the price exceeds the upside targets during a bull run as traders buy due to FOMO. March has historically been a weak month for Bitcoin, which suggests seasonal traders may prefer to wait and watch rather than jump to buy on dips. This lack of demand may be one of the reasons for the Grayscale Bitcoin Trust premium dipping into the negative over the past week. Crypto market data d

Crypto continues to enter mainstream usage. Google Finance users can now get a quick rundown of the top cryptocurrency prices with just one click. Google Finance has added crypto prices to the finance.google.com domain. The section, titled “Crypto,” now appears in the “Compare Markets” category alongside conventional stock and currency markets. The section provides key pricing information for various cryptocurrencies, including Bitcoin ( BTC ), Ether ( ETH ), Litecoin ( LTC ) and Bitcoin Cash ( BCH ). Google Finance users can now track the performance of various cryptocurrencies in just one click. Google's parent, Alphabet, also owns video platform YouTube — which has consistently irked crypto users by banning educational and news content, often seemingly at random. Cointelegraph and CoinDesk, the two largest publications in the crypto news space, have both been subject to suspensions that have subsequently been overturned after the video streaming platform confirmed they wer

The NFT craze has reached the NBA, with digital collectibles grossing $230 million in sales, according to Dapper Labs. Dapper Labs, the creator of the CryptoKitties game , is helping the National Basketball Association, or NBA, become a magnet for digital collectibles.  NBA Top Shot, a marketplace for non-fungible tokens, or NFTs, has generated over $230 million in sales, according to Dapper Labs. NBA Top Shot is built on Dapper’s Flow blockchain , allowing users to purchase “packs” that feature in-game moments. With packs almost always sold out, a secondary marketplace is the only way for users to access specific moments. Recently, a LeBron James highlight sold for $200,000. A Zion Williamson spotlight sold for around the same amount. NFTs, which exist entirely on the blockchain, are revolutionizing the traditional model of trading cards. In the case of NFTs, the value of a particular moment is governed by the same laws of supply and demand, though ownership is entirely digital

Small businesses can now accept cryptocurrency payments using OLB’s point-of-sale technology. OLB Group (OLB), a New York-based e-commerce merchant service provider, is making it easier for businesses to accept cryptocurrency payments . OLB’s more than 8,500 merchants are now able to accept Bitcoin ( BTC ), Ethereum ( ETH ), USDC and DAI at the point-of-sale through the company’s OmniSoft business management platform. Customers wishing to pay with cryptocurrency in-store or through their mobile phones can simply elect to do so with their cryptocurrency wallets. All payments are processed through SecurePay, a payment gateway that authenticates the transaction, converts the cryptocurrency to U.S. dollars and approves the final sale. The decision to integrate cryptocurrency payments was partly driven by the growth of contactless and online orders during the Covid-19 pandemic. With the OmniSoft platform already providing merchants with several options to facilitate payments, cryptocurr

Though the Tether settlement may help bring in more transparency, experts believe that state-centric bans may not be the way out. A long-standing legal drama finally found resolution on Feb. 23, with the New York Attorney General’s office announcing that it had come to a settlement with cryptocurrency exchange Bitfinex after a 22-month inquiry into whether the company had been trying to cover up its losses — touted to be worth $850 million — by misrepresenting the degree to which its Tether ( USDT ) reserves were backed by fiat collateral. According to the terms of the announced settlement, which now marks an end to the inquiry that was initiated by the NYAG back in Q1 2019, Bitfinex and Tether will pay the government body a fixed sum of $18.5 million but will not be required to admit to any wrongdoing. That being said, the settlement clearly states that henceforth, Bitfinex and Tether can no longer service customers in the state of New York. Furthermore, over the course of the ne

Did you know that Dogecoin used to sponsor a NASCAR driver? Learn some unbelievable stories behind Elon Musk's "favorite" cryptocurrency. Dogecoin ( DOGE ) might look like a fun meme coin, particularly as its price has absolutely skyrocketed in 2021. But behind the innocent Shiba Inu dog cartoon are some horrific stories. Those buying the cryptocurrency due to shilling and jokes from Tesla and SpaceX CEO Elon Musk, most likely have no idea of DOGE's early days. DOGE/USD 1-day candle chart (HitBTC). Source: Tradingview The early days Introduced by software engineers Billy Markus and Jackson Palmer in December 2013, Dogecoin's protocol followed Luckycoin and Litecoin ( LTC ) proof-of-work algorithm using Scrypt technology. It all started back on Christmas day, 2013, when Dogewallet announced that its webpage had been compromised , causing users to send funds to the hacker's address. The $12,000 worth of users' coins lost was fully reimbursed by Dog

Bitcoin is retesting a key support level at $44K-$45K for the third time in the past week. The price of Bitcoin ( BTC ) has dropped to the key $44,000-$45,000 support level on Feb. 28 for the third time in the past week. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview The BTC/USD pair briefly dipped below $44,000 on Bitstamp before paring some of the losses, bouncing back above $45,000 at the time of writing.  'Full rest' for SOPR, funding rates Some analysts have pointed out an uptick in miners' selling as the reason behind the latest drop in price.  It's a whale war, and you know who got the real power. US Institutional Investors - Coinbase Outflow = STRONG BUY - Coinbase Premium = BUY BTC Whales - BTC Reserve = BUY - Stablecoin Inflow TXs = BUY Miners - Miner Outflows = SELL - Miner to Exchange Flows = SELL pic.twitter.com/fhVBp8qocm — Ki Young Ju 주기영 (@ki_young_ju) February 28, 2021 Fortunately, the third retest of this key suppo

The cryptocurrency trading market is in its early stages, with regulations playing a key role in market fragmentation. Coinbase’s IPO announcement has been hailed as “a milestone for the crypto industry” by Fortune Magazine. Similar to the Netscape IPO announcement that signaled the legitimacy of the internet, Coinbase’s impending public offering signals to the public at large that cryptocurrency trading is legitimate, legal and secure in the eyes of the Securities and Exchange Commission. And now, investors have an opportunity to own stock on the largest crypto trading platform in the United States. As a result, many see an investment in Coinbase as an investment in the future of crypto trading. It is the highest volume U.S. crypto exchange, with three times the volume of its next closest U.S. competitor. The largest of anything in the U.S. must be the world leader. Except, it’s not. And conventional wisdom and current market realities are very far apart. In order to understand

One of DeFi's strangest experiments continues to push the envelope in both governance and architecture. Shortly after culling its community of inactive members, one of decentralized finance’s (DeFi) strangest experiments is launching a new stablecoin lending product. On Wednesday Inverse Finance revealed the Anchor Protocol, a money market built around DOLA, a protocol-native synthetic stablecoin. Based on “a modified fork of Compound,” in a blog post Inverse Finance founder Nour Haridy compares Anchor to Synthetix, which issues credit in the form of synthetic assets back by overleveraged collateral, and Compound, which issues credit in the form of crypto asset loans also backed by overleveraged collateral. Ultimately, Haridy sees these models as providing the same utility . “Lending and synthetic protocols both offer the same service: credit. Anchor brings the gap between them by combining them into a unified borrowing protocol.” Anchor aims to accomplish this with a uniqu

Strong fundamentals and new partnerships back the strong rallies in Morpheus Network, Bridge Mutual and Reef Finance. As new institutional and retail investors enter the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin ( BTC ) and Ether ( ETH ) attract the lion's share of investor's attention as they are the well-known 'secure' blockchain projects.  Once these new investors get a taste of the mainstay cryptocurrencies and how to navigate the volatile markets, their attention soon turns to smaller cap coins as they search for the up-and-coming projects that could be the next big thing. Currently, CoinMarketCap shows that there are 8,475 tokens and more are added daily. This makes it difficult to keep up with the latest developments and find solid projects with real-world potential. With that in mind, here are some interesting projects that have been gaining strength over the past few weeks.  MRPH/USDT Morpheus Network (MRPH) is a bloc

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Increasing stock market volatility drags Bitcoin and altcoin prices lower Bitcoin has had an exceptionally trying week, and it doesnt bode well for March a month thats traditionally bearish for the worlds biggest cryptocurrency. After hitting record highs of $58,300 last Sunday, Bitcoin suffered a dramatic reversal of fortunes crashing to $46,000 on Tuesday. Elon Musk might not have helped matters in the run-up to the correction, he had tweeted that BTC and ETH seemed high. Analysts and investors alike breathed a sigh of relief on Wednesday when Bitcoin managed to retake $50,000 with some proclaiming that the asset had undergone a healthy correction. But this narrative proved shaky when BTC pl