Bitcoin (BTC), the largest cryptocurrency by market capitalization, has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky. In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already happening right now. Mashinsky said that the flippening has already happened on Celsius. “We manage about $17 billion in deposits, or in customer coins, and the number one coin held in dollar terms is Ethereum,” he said. Mashinsky also predicted that Ether will have completely …
PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price. In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal. PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in circulation. Citing itBit data, Pantera claims: “When PayPal went live, volume started exploding. The increase in itBit volume …
Bitcoin (BTC) has the potential to become a new asset class in the next ten years, CEO of major crypto derivatives platform BitMEX claimed on the podcast Unchained Dec. 16. Arthur Hayes, CEO and co-founder of BitMEX, the largest crypto exchange by reported daily trade volumes, spoke with host Laura Shin and a group of other industry leaders at CME's Global Financial Leadership Conference last month. When asked if cryptocurrency represents a new asset class, Hayes expressed skepticism, saying crypto “is sort of a blend” but that it is “still extremely small”: “Could it become a bona fidе asset class …
American cinema giant AMC Theatres is finally adopting cryptocurrencies like Bitcoin (BTC) for online payments following months of teasing the new payment option. AMC CEO Adam Aron announced Thursday that the company now proudly accepts four major cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) for online payments. The new payment method already accounts for 14% of AMC’s total online transactions, Aron said, adding that cryptocurrencies join traditional payment options like Apple Pay, Google Pay and PayPal, the CEO wrote. Dogecoin (DOGE), a popular meme cryptocurrency that skyrocketed 9,000% over the past year, will be the next …
A 48% Bitcoin (BTC) price surge since the start of the year has pushed BTC's market cap past that of payment processing giant Visa once again. With the BTC price currently at $24,365, its market cap of $470.16 billion is now marginally above that of Visa with a market cap of $469.87 billion, according to CoinMarketCap. This is the third time that BTC has "flippened" the market cap of Visa, according to Companies Market Cap. The first time came in late December 2020 when BTC also happened to hit $25,000 for the first time. This was achieved during a price …