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Bitcoin and Ethereum witness strong gains as the overall crypto market spiked by more than $100 billion.

Meitu, a Chinese company that makes a photo editing app, bought $22.1 million worth of Ether and $17.9 million worth of bitcoin on March 5.


Bitcoin and Ethereum witnessed strong gains in the last 24 hours as the overall crypto market cap spiked by more than $100 billion within a single day. Ethereum remained the best performing digital currency among the top 10, with a substantial gain of 8% within the last 24 hours. According to the Coinmarketcap data, Bitcoin’s market cap touched $600 billion on 22 July after BTC crossed $32,000.

 

Ethereum crosses the price level of $2,000 for the first time in the last seven days. 

Ethereum crossed the price level of $2,000 for the first time in the last seven days. Currently, the world’s second-largest cryptocurrency is trading above $1,980, with a market cap of over $230 billion. ETH has a market dominance of approximately 18%, while Bitcoin’s market dominance currently stands at around 46%. Bybt.com, a leading crypto analytics platform, highlighted that the latest $100 billion crypto market recovery liquidated more than $330 million worth of short positions.

 

Elon Musk says Tesla may start accepting bitcoin again. 

Elon Musk, the CEO of Tesla, and SpaceX said today that Tesla would likely return to accepting the cryptocurrency Bitcoin as payment. The electric vehicle maker moved to ban Bitcoin due to grievances over the impact its mining process has on the environment. Many bitcoin miners have since moved to implement renewable energy sources in response. Tesla CEO had tweeted in June that he would allow bitcoin transactions again “when there’s confirmation of reasonable (~50 %) clean energy usage by miners with the positive future trend.” Musk had gotten a lot of flak from the crypto community for suspending bitcoin payments. 



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Reminder: Today, US Congressman Rep Brad Sherman who is trying to ‘Shut Down’ Crypto and gets his largest accumulative donations from big banks, is having a town hall on July 21st, 7pm. Might be a good time to call in and remind him who he’s supposed to be working for