DUBAI: Bitcoin, the world’s largest cryptocurrency, is back trading above $50,000 after days of decline. It’s up 5.19 percent at $50,074.87 as of 04:18 p.m. Riyadh time.
Ether was up 6.33 percent, trading at $3.774.23.
Other crypto news:
The US affiliate of Binance is eyeing an initial public offering within three years, CoinDesk has reported, citing its CEO Changpeng Zhao.
Zhao was quoted saying Binance.US “is just going to do what Coinbase did,” referring to the company’s earlier move to go public.
It comes as the exchange platform struggles through several country investigations against it.
In the non-fungible token (NFT) scene, a new text-based fantasy game is gaining traction.
According to a CoinDesk report, “Loot: (for Adventurers)” has already attracted $46 million in sales and a total market cap of $180 million – in just five days.
Some, including the founder himself, are worried about the sky-high prices of NFTs in the project, describing it as a sign of market unsustainability.
A new survey in Russia found that three out of four investors would rather buy cryptocurrency than gold or fiat.
The Association of Forex Dealers poll saw only a little over 14 percent of the respondents said they would put money into fiat, Bitcoin.com has reported.
The study also showed that even among those who have never traded digital assets, most were already thinking of investing in crypto.
In Iran, the ministry of industries, mining, and trade has denied claims that illegal crypto mining was causing electricity shortages in the country.
“Figures announced by Tavanir seem to be highly exaggerated. The consumption of illegal miners is considerably lower than the 2,000 megawatts estimated by the utility,” the ministry’s Director of Investment Planning Alizera Hadi, was quoted as saying.
American online marketplace Shop.com has announced accepting crypto as payment, Bitcoin.com has reported.
Its COO Steve Ashley said: “Today I’m announcing that Shop.com is going to be offering bitcoin, ethereum, and several other cryptocurrencies through Bitpay,” during the Marter America Worldwide Shop.com 2021 International Convention on Wednesday.