CoinMarketCap Daily Newsletter: PayPal to Expand Crypto Service 🌍

Fri. Feb 12, 2021

“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” 😬

– George Soros

Market Activity

Total Market Cap $1.46T (+1.39%)
24 Hour Volume $208.59B (+1.22%)
Notable Movers The Graph (GRT) (+64.49%)
Bitcoin Dominance 61% (-0.69%)
Bitcoin Price $48,035.30 (+3.52%)
Notable Movers Dogecoin (DOGE) (-7.33%)
The Block says Jack Dorsey and Jay-Z are teaming up to fund Bitcoin developers with a new 500 BTC endowment. U.Today says BTC is now worth more than JPMorgan Chase, Bank of America and Wells Fargo combined. Cointelegraph adds that Bitcoin’s market cap briefly topped $900 million. CryptoSlate says Tesla made more money owning BTC in one day than it did selling cars in three months.

Your Friday News 📰

Learn all about crypto at Alexandria, your new online crypto source!

PayPal Crypto Service Coming to UK! 🇬🇧

After exceeding expectations with its launch in the U.S., PayPal has revealed it’s bringing its crypto service to the United Kingdom. It makes sense — an estimated 1.9 million Britons own digital assets, and the country is one of PayPal’s biggest markets. However, the tech giant says it’s unlikely to follow Tesla in buying BTC as a reserve asset. Read more here.

Dogecoin Founder Speaks Out 🐶

Billy Markus — the software engineer who founded DOGE — has been speaking out on Reddit. He revealed that he sold all his crypto in 2015, meaning that he’s missed out on a windfall following Dogecoin’s surge. Markus also pushed back against attempts to take DOGE to $1, saying: “That is not something I can comprehend, let alone answer.” Find out why.

India Crypto Ban Back on Cards… 🇮🇳

Bloomberg is reporting that a complete crypto ban is coming in India. Transacting on foreign exchanges will also end up being prohibited. It’s believed that those who currently own digital assets will be given up to six months to liquidate their investments. New restrictions would serve as a hammer blow to India’s burgeoning crypto sector. Here’s the latest.

…But Canada Approves an ETF 🇨🇦

It’s not all doom and gloom on the regulation front. Canada has given the green light to North America’s first Bitcoin exchange-traded fund. It comes as firms in the U.S. struggle to gain approval from the Securities and Exchange Commission. The launch of the Purpose Bitcoin ETF has been heralded as “great news for investors.” Read more here.

Poll of the Day 📣

There’s *a lot* of disagreement over whether Tesla will fire the starting gun on loads of companies buying Bitcoin as a reserve asset. So our question is this…

On a scale of 1-5 (5 being definitely,) do you think that more major companies will end up buying BTC?

Alexandria’s Best Bits 📖

Looking for some in-depth insights into market movements? Here’s what CoinMarketCap Alexandria can offer…

 

Tesla, Dogecoin and institutional interest! This week, IntoTheBlock takes a dive into the rather wacky goings-on with Tesla, Dogecoin, Elon Musk…and Bitcoin?

Spotlight on NFTs! As HashMasks become the most-traded non-fungible tokens on OpenSea in a single week, Flipside Crypto takes a dive into the world of NFTs.

Blockchain Term of the Day: Derivatives Market 💰

Following on from the launch of Ether futures on Sunday, let’s refresh ourselves on what derivatives are…

 

Derivatives are financial instruments with a value that is derived from an underlying asset such as a cryptocurrency, fiat currency, or commodity. Traders in derivatives can bet on the future price of the underlying asset, either as a means of speculation or as a way of hedging risk.

Thanks for reading! Have an epic weekend! 👋