#CryptoCorner #Podcast 522: #Stocks discussed: (NasdaqGS: $PYPL) (NasdaqGS: $EBON) (TSXV: $BITF.V)
#CryptoCorner #Podcast 522: #Stocks discussed:
(NasdaqGS: $PYPL) (NasdaqGS: $EBON) (TSXV: $BITF.V)
Ether Hits Another New ATH, PayPal Plans
Increase in #Crypto Support Following Positive Response, Ebang Completes Chip
Design for LTC and DOGE Mining, and Bitfarms Releases Corporate Update
Point Roberts, WA, Delta BC February 4, 2021 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGS:EBON) (TSXV:BITF)
While Bitcoin (BTC) is clocking in at just about the same
trading price as yesterday’s Crypto
Corner – about $36,500 –Ether (ETH) has registered yet another new all-time
high, according to data from CoinMarketCap.
Ether peaked at $1,689 in the past 24 hours, though it has since cooled to a
trading price of about $1,570 at press time.
Cointelegraph reports that PayPal (NasdaqGS:PYPL) plans to increase its support
for cryptocurrencies, following a positive response from its limited
buy/sell/hold crypto trading launch. The company’s CEO, Dan Schulman said:
“We … saw an exceptional response from our crypto
launch “...The volume of crypto traded on our platform greatly exceeded our
expectations.”
Indeed, according
to the article, PayPal saw crypto trading volume reach “record highs, peaking
at $242 million in transactions on Jan. 11,” after launching the service in
November 2020 with a $20,000 per week trading limit in place. Schulman is
quoted further:
“We are significantly investing in our new crypto,
blockchain, and digital currencies unit.”
Ebang International
Holdings Inc. (NasdaqGS:EBON) has completed the designing of a chip for
simultaneous Litecoin (LTC) and Dogecoin (DOGE) mining as an addition to its current
portfolio of cryptocurrency mining chip designs. Ebang’s Chairman and CEO, Dong
Hu, explained:
“The completion of the designing is a credit to our
increased investment in R&D in recent years. We have made tremendous
efforts to build up our R&D team and accelerate product iteration and
innovation. In the future, we will focus on developing more mainstream
cryptocurrency mining machines, and we are considering designing more mining
chips compatible with multiple cryptocurrencies. We believe it will help
increase our revenue from the cryptocurrency mining business and optimize our
product offering structure along the blockchain industry value chain.”
Bitfarms Ltd. (TSXV:BITF) has released a corporate update, indicating that
it is on schedule to install 3,000 additional miners at the end of February,
and that it is assessing options for an expansion and activation of a sixth
data centre in Quebec, Canada. The company also revealed that it is actively
seeking an additional stock exchange listing in the U.S. Bitfarms CEO Emiliano
Grodzki said:
"Higher Bitcoin prices along with a strong
management team has allowed Bitfarms to achieve progress which only a few
months ago would have only been a dream. We are pleased with our progress and
are excited about what is possible in 2021 and beyond. We have built a strong
platform that distinguishes Bitfarms amongst its peers. The outlook for further
Bitcoin price appreciation is positive and Bitfarms is well positioned to take
full advantage."
Sam Mowers, Investorideas
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