Big Prediction as Bitcoin Cracks $38,000
Bitcoin has hit highs of $38,592 in the past 24 hours — with Bloomberg analyst Mike McGlone predicting that the bull run will continue soon. He says there’s "ample evidence" that money is moving out of the gold market and into products tracking BTC. All of this comes as an analyst from Investing.com says BTC will hit $60,000 this year. Read more here.
PayPal’s Crypto Service Off to Strong Start
PayPal has revealed trading volumes through its new crypto service have "greatly exceeded" internal projections. In its latest financial results, the payments giant revealed people who buy digital assets log into PayPal twice as frequently as they did before. PayPal is set to "significantly invest" in a new crypto and blockchain unit in the coming months. Read more here.
Binance Coin Hits New All-Time Highs
Binance Coin has overtaken Bitcoin Cash to become the ninth biggest cryptocurrency in terms of market cap. It came as BNB hit a new all-time high at $55. The new record came as trading volumes on Binance hit record levels. All of this came as the platform launched a new beta product called Binance Pay in an attempt to help people start spending crypto. Read more.
Ethereum Transaction Fees Are Soaring
ETH transaction fees have hit a new all-time high of $23 — with miners earning $22.75 million in fees over the space of 24 hours. It’s now more expensive than ever to use this blockchain for making payments — and it’s bad news for DeFi protocols, too. Meanwhile, one exchange temporarily halted withdrawals due to the spike in gas fees.
