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The city of Shenzhen is planning yet another $3 million digital currency test

The city of Shenzhen is planning yet another $3 million digital currency test

The Chinese city of Shenzhen is seeking to boost awareness and use of digital currency by giving 20 million yuan (over $3 million) away to its citizens.

The post The city of Shenzhen is planning yet another $3 million digital currency test appeared first on The Block.

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Increased Mainstream Adoption of Bitcoin Cuts Diversification Benefit, JPMorgan Says

Bitcoin’s correlation with traditional markets could “erode” its “diversification value over time.”

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BitMEX’s bitcoin balance has dropped more than 60% since March 2020

Crypto derivatives exchange BitMEX, once the dominant player in the futures market, has lost its number one position in recent months.

The post BitMEX’s bitcoin balance has dropped more than 60% since March 2020 appeared first on The Block.

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Bitcoin Worries ‘Fading’ as Crypto Goes Mainstream, S&P Says

S&P sees “a lot of similarities” between bitcoin and gold, and says concerns about theft of cryptocurrency have diminished with greater mainstream acceptance.

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Bitcoin Slumps to $31K on Sell-Off in US and Europe

Uncertainty is leading many to take short-term profit, according to the “Coinbase Premium” indicator.

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Blockchain Bites: Crypto in the Red, BlackRock Green Lights Bitcoin Futures

The world’s largest asset manager will allow two of its funds to get into bitcoin futures, as Guggenheim speculates a market pullback in the near term.

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Why Everyone From Square to Facebook Is Now Hosting the Bitcoin White Paper

The uploads come in response to legal threats by Craig Wright.

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How Cultural Differences Drive User Adoption in DeFi

Despite being virtually identical products at launch, SushiSwap and Uniswap have taken divergent paths as they respond to users, says Multicoin’s principal.

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Bitcoin News Roundup for Jan. 21, 2021

With bitcoin dropping as traders turn bearish, CoinDesk’s Market’s Daily is back with the latest news roundup.

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Chinese City Plans Third Digital Yuan Pilot, Giving Away $3M-Worth in Prize Draw

Being held as a public pilot of the central bank digital currency, lottery entrants can apply to win 200 digital yuan each.

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