Cryptocurrency
Electroneum, a Cryptocurrency, to launch electricity Top-Ups in Nigeria
Electroneum will be launching an in-app electricity top-up feature across four African countries to support digital payment projects for electricity
Electroneum, the British based blockchain, will be launching an in-app electricity top-up feature across four African countries to support digital payment projects for electricity in Nigeria, Senegal, Mali, and The Gambia.
What this means for Nigerians: The electricity payment platform will allow Electroneum app users to recharge their electricity meters directly from the app installed on their mobile phone by paying in Electroneum tokens.
What is Electroneum; Electroneum is a blockchain-based payment system created specifically for use on mobile hardware, like smartphones. It is believed by many to be the first Anti-Money-Laundering (AML) compliant and ‘you are your customer’ cryptocurrency. Electroneum’s crypto is mined from your smartphone with ease.
How can I buy Electroneum? This cryptocurrency can be bought from several cryptocurrency exchanges like Liquid, and Huobi. Each cryptocurrency exchange offers diverse ways of paying for Electroneum so be sure to check what payment options are offered to you.
(READ MORE: Bitcoin halving: Here is what experts think comes next)
However, while Electroneum has been expanding around the globe with its different payment projects, some of its users do not find these exciting, partly due to the depreciating returns on the cryptocurrency in recent months.
According to data obtained from Coinmarketcap, Electroneum ranks 64th as the most valuable cryptocurrency in the world, with a market capitalization of about $95 million dollars, trading up by 5%, with price at $0.0093 at the time this report was drafted.
READ ALSO: Did Satoshi Nakamoto cause the panic sell-off in Bitcoin market
Their collaboration with non-governmental organizations in these countries is a potential way of boosting the wider use of cryptocurrencies. Electroneum told Cointelegraph in a note that:
“By working with NGOs (Non-Governmental Organizations) on the ground in developing nations, we are achieving true adoption of a cryptocurrency. We are enabling people and allowing them to join the global digital economy for the very first time.”
The report also added the fact it would help minimize trade barriers and help freelancers earn a living.
“More importantly, we want to ensure that the vast number of highly skilled unbanked people of the world have an opportunity to join the global freelance revolution.”
Cryptocurrency
BTC whale moves 19,630 BTC valued at $185,000,000
BTC whales have shown historically that they often determine BTC trend.
BTC whales have been moving large stacks of BTCs lately, triggered by the recent bullish momentum in the BTC market.
According to data obtained from BTCBlockbot, a crypto analytic tracker, someone moved 19,630 BTC block 638,319 estimated to be roughly worth about $185 million dollars, less than 12 hours ago.
Whale alert! 🐋 Someone moved 19,630 BTC ($184M) in block 638,319 https://t.co/lfZolRzLCR
— Bitcoin Block Bot (@BtcBlockBot) July 8, 2020
In addition, BTCBlockbot suspected that the BTC whale probably came from Coinbase moving about 19,630 BTC ($185M) in block 638,316.
Whale alert! 🐋 Someone (possibly https://t.co/jIWhXDP3O5) moved 19,630 BTC ($185M) in block 638,316 https://t.co/Rk7ySfMt8L
— Bitcoin Block Bot (@BtcBlockBot) July 8, 2020
Global investors and traders are now rushing into the BTC market as cheap money abounds, and inflation is on a record high. While it is difficult to predict market movements, BTC whales have shown historically that they often determine BTC trend.
READ ALSO: Over 900,000 active Bitcoin wallets push transactions to 3-year high
Quick fact: At the BTC market, investors or traders who own large amounts of bitcoins are typically called Bitcoin whales. This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.
As BTC whales accumulate BTCs, bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in. Meaning that over time, it’s possible that as BTC approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.
Explore economic research data from Nairametrics on Nairalytics
“The price of BTC is now more than 20x higher than it was when we first saw this many whales, implying that more wealth is being held by whales,” Glassnode noted.
“However, the average balance held by each large holder has decreased during this period, such that whales actually hold less bitcoins now than in 2016, and less wealth (in USD terms) than in 2017,” it added.
Cryptocurrency
There are now 13,173 BTC millionaires around the world
As the transaction number in BTC market records high, the number of dollars invested increases
As of now, there are 13,173 BTC millionaires, or addresses containing greater than $1 million value of Bitcoin.
Recall that the wealth of many BTC investors have grown exponentially at the BTC market, as holders of more than 1000 BTCs or more referred to as whales have been increasing at a steady pace after BTC recent halving,
In addition, as transaction numbers in BTCs market keep hitting record highs, the number of dollars that buyers invested in $BTC just made a new all-time high. This suggests that something big is about to happen in the flagship cryptocurrency market.
The momentum in BTCs market has been gaining a steady pace since a report released by America’s most valuable bank, JP Morgan Chase, showed Bitcoin as a store of value asset.
READ MORE: There Are Now 1800 BTC Whales
“Though the [bitcoin] bubble collapsed as dramatically as it inflated, BTC has rarely traded below the cost of production, including the very disorderly conditions that prevailed in March,” said JPMorgan experts in a report led by the head of U.S. interest rate derivatives strategy, Joshua Younger and cross-asset research analyst, Nikolaos Panigirtzoglou.
Meanwhile, the flagship currency had remained above the $9,000 support level in several weeks, data from Coinmarketcap shows that BTC has a market capitalization of about $173.2 billion dollar with a daily trading volume standing at $18.78 billion.
Explore economic research data from Nairametrics on Nairalytics
Quick fact; BTC is a completely decentralized digital crypto-asset, unlike fiat currencies that you can hold in your physically there is no central authority or centralized payment system controlling BTC. Bitcoin operates in a peer-to-peer network that allows any individual in the world to send and receive Bitcoin without any middleman (like a bank, central bank or payment processor).
Cryptocurrency
Dogecoin gains 50% in less than 24 hours, highest single-day gain since 2017
The fast-growing altcoin has a block period of 1 minute, and the total supply is unlimited.
The world of cryptocurrency got another shocker as a fast-growing altcoin gained 50% some hours ago, the highest single-day percentage gain since 2017. This was captured by a leading crypto researcher, Ryan Watkins.
Dogecoin going vertical.
Up 50%+ in last 24 hours. Highest single day percent gain since 2017.https://t.co/RHtsjjI7X7
— Ryan Watkins (@RyanWatkins_) July 8, 2020
Data from Coinmarketcap shows that the cryptocurrency is the 27th most valuable crypto asset, with a market capitalization of $528.3 million.
Dogecoin is presently trading at $0.004217 up 51.93% at the time this report was drafted.
Quick fact: Dogecoin is a type of digital coin that is decentralized, and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It’s usually referred to as “the internet currency.”
READ MORE: Best time to make money trading BTCs
It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.
“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of cryptocurrency research firm, Delphi Digital.
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Global search interest on “How to buy a dogecoin” has also skyrocketed from a score of 25 to 100, the highest possible search popularity score, over the past few days, according to 12-month Google Trends data analyzed by CoinDesk.
Some of the videos on TikTok, a newly popular social media platform, garnered more than 100,000 “likes,” while all videos with the “dogecoin” hashtag amassed several million.
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