Plus   Neg

Cryptocurrency Daily Roundup - Feb.20


Here is a summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.

Bitcoin rises 10% in a week; Nearing $4,000 level

Bitcoin looks set to touch the key $4,000 resistance level as the leading cryptocurrency by market capitalization continued the rally for the third consecutive day this week. Building upon the positive start in the new week, Bitcoin rose to $3,950 on Wednesday, its highest after reaching the recent peak of $4060 on January 8. The weekly chart confirms a bullish reversal. In the last seven days, Bitcoin moved upward by more than 10 percent, or $364.

Indonesian Regulator Issues New Rules For Cryptocurrency Trading

The country's Ministry of Trade, through the Commodity Futures Trading Regulatory Agency or CoFTRA, known as Bappebti, issued four rules related to the implementation of trading crypto assets. As per the new rules, cryptocurrency futures exchanges must be registered in the country and approved before operating. Also, crypto assets are recognized as commodities that can be traded on the country's futures exchange.

You can now buy Domino's Pizza Using Bitcoin

Customers can now buy their favorite pizza from any of the multi-billion-dollar stores via the Lightning Network (LN) at a 5 percent discount paying $ 0.01 as an instant payment network fees. Transaction settles in less than 30 seconds, and Domino's Pizza promises to deliver the food packet to the customer within 30 minutes of placing the order online anywhere in the US.

Coinbase Acquires Blockchain Intelligence Company

US cryptocurrrency exchange Coinbase acquired the blockchain intelligence start-up company Neutrino. Coinbase said, "By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples' accounts, investigate ransomware attacks, and identify bad actors". "It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations," said Varun Srinivasan, Engineering Director at Coinbase.

Elon Musk says Bitcoin Brilliant, better than Paper Money

Elon Musk, the founder and CEO of Tesla and SpaceX, commented that Bitcoin's structure is quite brilliant. During an interview on advisory services firm ARK Invest's podcast, Musk also said paper money is going away, and crypto is a far better way to transfer value than pieces of paper. Last year, Musk had tweeted that he literally owns zero cryptocurrency apart from the 0.25 BTC a friend had given to him many years ago.

Current Prices

As of this writing, Bitcoin is gaining 0.09 percent or $3.52 at $3915 on Coinbase. Ethereum is losing 0.46 percent or $0.68 to trade at $144.90.

For comments and feedback contact: editorial@rttnews.com

Follow RTT