After a long night of struggle, it seems like the crypto market is gaining traction. The cryptocurrency market cap increased by 23-percent from $145 Billion to $183 Billion. The rise in crypto market, initiated by Bitcoin, which experienced a price appreciation of 15.3-percent after an anonymous buyer placed an algorithmic order worth 100 million, spread across multiple exchanges Kraken, Coinbase, and Bitstamp. Bitcoin is now gaining traction, and according to many crypto experts, it can really surprise us with its huge price jumps.
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China is Leading the World in Blockchain Projects
It looks like China doesn’t want to leave any space unattended. According to veritable sources, China is leading the world in the blockchain technology. It’s working on 263 blockchain projects, which represent 25-percent of the global total. If this continues at this fast pace, the day isn’t far off when China will rule the crypto market and blockchain technology.
Crypto Exchange Coinbase Introduces Cross-Border Payments
The US-based crypto exchange Coinbase has expanded its cross-border payments. Now users can transfer digital funds to any user around the globe, using Stablecoin USDcoin or XRP, without a fee. It’s great, isn’t it? Coinbase users are now able to receive and send digital funds quickly and convert them into fiat currency with greatest accuracy.
PayPal Invests in Blockchain Startup
PayPal has officially entered Blockchain space by acquiring a stake in blockchain startup Cambridge Blockchain, which helps financial firms and institutions manage confidential data using blockchain technology. This is the first time PayPal showed an interest in a blockchain technology. The PayPal’s spokesperson said this investment will go a long way toward helping us explore potential collaborations to make the most of blockchain technology.