1. Market Wrap: Bitcoin Continues Choppy in High $40Ks Amid Market Indecision
Bitcoin bulls struggle to pare the weekend’s losses despite a strong start on Monday.
Bitcoin (BTC) trading around $47,700 as of 21:00 UTC (4 p.m. ET) slipping 1.83% over the previous 24 hours.
Bitcoin’s 24-hour range: $50,213 to $47,118.
Following a correction over the weekend, bitcoin struggles to regain upward momentum as market indecision lingers.
2. More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows
Institutions are buying more bitcoin per month than what’s being mined, and there just isn’t enough for everyone.
Four million. That’s roughly how much bitcoin is circulating freely right now, blockchain data show. The number has been getting a little smaller with each passing month over the last year.
It’s the assessment of Glassnode, an analysis firm that tracks blockchain data. The pattern suggests that the ever-decreasing supply of bitcoin available to buy and sell might lead to a price surge as more institutional investors embrace the largest cryptocurrency as an investment.
Bitcoin’s “liquid supply change” — the amount by which the number of coins in circulation has changed over the prior 30 days — has been negative for most of the past year, according to Glassnode:
That’s a longer period in negative than seen historically, potentially providing more support to bitcoin’s price strength in the long term despite short-term corrections like last week’s 21% retreat.
3. Dogecoin Bounds Onto 1,800 ATMs in the US
CoinFlip told CoinDesk DOGE has become a symbol of the small retail investor.
Fans of the popular canine-themed cryptocurrency dogecoin (DOGE, -3.6%) can now make purchases at 1,800 ATM locations in the U.S.
According to a Tuesday tweet by ATM provider CoinFlip, DOGE can now be purchased with cash across its network, as the company makes the most of DOGE’s surging popularity.
DOGE was launched in 2013 and quickly grew in popularity thanks to its cute Shiba Inu logo and meme-loving community.
4. PayPal to Buy Crypto Custody Firm Curv
One source tells CoinDesk that Curv could be sold for as much as $500 million.
PayPal is said to be in the process of buying Curv, a technology firm that powers the secure storage of cryptocurrency, according to three sources familiar with the situation.
Israeli news outlet Calcalist reported Tuesday that Curv was being sold for between $200 million and $300 million, without naming the buyer.
“PayPal is buying Curv for $500 million,” a source from within the digital asset custody space told on Monday. “From where I’m hearing it, I’m pretty sure it’s true.”
Several people in the cryptocurrency space have said PayPal, which made an entrance there last year, turned its attention to Curv after talks to buy crypto custody and trading firm BitGo fell through last year. PayPal offered $750 million in cash for BitGo, two sources familiar with the deal told us.
PayPal did not return requests for comment by press time. Curv declined to comment.
5. TaxBit Raises $100M in Bid to Take Crypto Taxation Software Global
The Utah-based startup roared out of stealth mode with backing from Paradigm and Tiger Global.
Cryptocurrency tax automation firm TaxBit raised $100 million in a Series A funding round led by crypto investment fund Paradigm and Tiger Global.
The three-year old startup, which builds tax assistance tools for U.S. crypto exchanges and customers, told us it will more than double its 40-odd headcount as it prepares to add even government clients to the list.
TaxBit’s software powers behind-the-scenes number crunching for exchanges in order to give crypto traders a handle on their tax burdens. Going into the 2021 tax season, TaxBit founder Austin Woodward told CoinDesk his firm has already generated over 1 million reports for exchanges like Gemini.
Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.
ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.
Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.
In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.
ZBG Official English (Telegram): https://t.me/ZBG_Exchange
ZBG Official Chinese(Telegram): https://t.me/ZBG_ChineseOfficial
ZBG Official Bangladesh (Telegram): https://t.me/zbgbangladesh
Twitter：https://twitter.com/ZBG_Exchange
ZBG, World’s top 10 crypto currency exchange.
Link to future value!
ZBG Team
March 3, 2021
