Crypto News Recap: Bitcoin Back at $13K As PayPal Embraces Cryptocurrencies

Published October 26th, 2020 - 06:30 GMT
Crypto News Recap: Bitcoin Back at $13K As PayPal Embraces Cryptocurrencies
According to analysts, this upward move was driven by the great adoption news from PayPal. (Rami Khouri\Albawaba)
Highlights
Here are the market highlights for the week.

October has been an interesting month for the crypto world as the flagship coin, Bitcoin, leapfrogged 13.86% over the last 7 days. The digital gold is trading at $13,021.42

According to analysts, this upward move was driven by the great adoption news from PayPal. 

Source: coinmarketcap.com

Crypto Market Cap: 
The whole crypto market sentiment re-enters the positive zone following the main coin. 

Source: coinmarketcap.com

Without any further delay, let’s take a look at the major highlights of last week in the amazing world of crypto.

Bitcoin Price Skyrocket as PayPal Adds Cryptocurrencies

Paypal, the American online payments system, announced the support of cryptocurrencies on its famous platform. 

According to the official announcement, US-based PayPal users can now sell, buy and hold cryptocurrencies directly from their PayPal account. Dan Schulman, president and CEO, commented: "The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly”. 

For now, this service will initially feature Bitcoin, Ethereum, BitcoinCash, and Litecoin directly within the PayPal digital wallet. 


 Total Bitcoin HODLers. Source: Twitter

Some sources claimed that the digital payment giant is even considering the issuance of its own cryptocurrency. With this move, PayPal might triple its user base as Willy Woo noted on Twitter: 

The European Central Bank is Eyeing Digital Euro
The European Central Bank, the main central bank of the Eurozone which employs the euro, intents to issue a “Digital Euro”.


In the announcement, Christine Lagarde, President of the ECB, emphasized that the new digital currency will not replace cash, but will complement it: “The euro belongs to Europeans and we are its guardian. We should be prepared to issue a digital euro, should the need arise.”

Meanwhile, The ECB and the other European national central banks are exploring the pros and cons of using a digital form of money stating that it might be very helpful in ‘cushioning the impact of extreme events – such as natural disasters or pandemics’.

The plans for the new coin is set to be ready for use towards the middle of 2021.

Japanese Footballer Keisuke Honda to Roll out His Own Crypto Token
Keisuke Honda, the well-known professional footballer, decided to launch his own cryptocurrency. 

The new currency named KSK Honda Coin is the fruit of a partnership with Rally Network, a cryptocurrency creator service for influencers, content creators, and streamers is now priced at $8.350.

WordPress Introduce New Plugin That Lets Publishers Timestamp Content on Ethereum Blockchain
WordPress, Dutch startup WordProof announced they will allow publishers to timestamp content on the Ethereum blockchain. 

According to the announcement, this new plugin will enable trust, protect content and prepare for next-generation SEO. 
 

Events to Keep An Eye On:

(Sep 28, 2020 - Dec 09, 2020) 

Future Blockchain Summit 2020 (Oct 27, 2020 - Oct 28, 2020) Dubai, United Arab Emirates


© 2000 - 2020 Al Bawaba (www.albawaba.com)

You may also like