A weighty Bitcoin (BTC) transaction was conducted on April 10, which has caught the attention of digital asset whale watchers and the entire crypto asset community at large. A BTC address recently moved around 146,500 BTC (worth approx. $1.1 bln at the time of transaction) in a single transaction.
The spread of COVID-19 around the globe, as well as its influence over all industries including cryptocurrency, has caused its major players to join forces and combat the disease under the #CryptoAgainstCOVID hashtag.
Recently, with increasing interest in whether Bitcoin will become a safe digital asset such as gold, it has been evaluated that it is not yet a safe asset. Looking at where the price of BTC is standing right now (BTC/USD $8775, -0.74%), a beginner in this nascent industry finds it hard that the token has ever traded above the $20,000.
Today, the world’s leading cryptocurrency, Bitcoin, has entered the oversold region. In the last 24 hours, the digital asset in question – Bitcoin - has managed to plunge more than 5%, reaching a low of round $8,500 price level. Also, the money flow index (MFI) was 19.2 and the relative strength index (RSI) was 27.7, as of 00:00 UTC on Feb 27th.
Blockchain technology is a solution to create unique digital assets (UDAs). To understand the opportunities of blockchain it is important to consider the uniqueness of digital products. But let's start with a common example.
What is a token? A token is a blockchain-based digital asset that can be exchanged between two parties without the need for an intermediary. A token (coin) can be seen as a set of digital information that is able to give a right of ownership to a subject on the same set of information that is recorded on a blockchain and that can be transferred via a protocol.
After hearing that China is trying to develop its own state-backed cryptocurrency, Japan has joined arms with other countries to come up with their own government-owned digital asset so it can dominate China’s digital yuan and all other state-owned tokens that will be launched afterwards.
The last month has been written in the history books as a trading session that has offered some amazing returns in the blockchain and digital asset market. Following the protracted bearish trading period, the world’s top cryptocurrency managed to hit and exceed the $9.5k price level, a thing it last did in May and June of 2019 when it traded above $13k.
As the blockchain and cryptocurrency industry keeps on becoming more competitive day in day out, players in the industry tend to come up with more friendly and cheap programs so they can maintain and attract other customers to consume their digital products.