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Google will help digital asset platform Bakkt introduce cryptocurrencies to millions of consumers

cryptocurrencies to millions of consumers
Digital asset platform Bakkt announced a partnership with Google “to bring digital assets to millions of consumers”. With this partnership, Bakkt says consumers will benefit from “extended reach and access” to cryptocurrencies.

Google collaborates with Bakkt to expand consumer access to cryptocurrencies

Intercontinental Exchange’s digital asset platform Bakkt said on Friday that it has partnered with Google “to bring digital assets to millions of consumers.” When forming a partnership with Google, Bakkt said:

Consumers will benefit from greater reach and access to digital assets.

Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt allows institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies.

Bakkt explained that “users will be able to add their Bakkt Visa virtual debit card to Google Pay to buy everyday products and services online, in stores or anywhere Google Pay is accepted.” Cryptocurrencies, such as bitcoin, will be converted into fiat currency for these payments to take place, the company said.

Several other cryptocurrency platforms have added Google Pay, including Bitpay and Coinbase, the Nasdaq-listed cryptocurrency exchange. The former added Google Pay for US cardholders to spend on encryption in August, while the latter allowed Coinbase card users to pay for Apple Pay and Google Pay in June.

Bakkt and Google Cloud

Additionally, Bakkt said that he has chosen Google Cloud as his preferred cloud provider. The company will market its Google Cloud-based solutions to major retailers and merchants across the United States. Bakkt also plans to leverage Google Cloud tools to create new analytics along with artificial intelligence (AI), machine learning (ML) and analytics capabilities. Platform. .

Bakkt CEO Gavin Michael said: “This partnership demonstrates Bakkt’s strong position in the digital asset market to enable consumers to enjoy their digital assets in real-time, securely and reliably.

Kirsten Kliphouse, president of Google Cloud North America, said:

We are proud to help Bakkt accelerate and develop the availability of its innovative solutions powered by our technologies.
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Ethereum: 7,000% increase until 2022 if history repeats itself

Bitcoin’s jump to $55.3K filled the market with euphoria, partially eclipsing Ethereum’s 5% gains in two days. As the main altcoin moved more slowly to the north, the expectation of a slow and steady rally grew in the market.

Ethereum, at the time of printing, was trading at $3,540, with daily gains of 1.23% versus gains of 5.73% for BTC. However, there were signs that history was repeating itself. So it seemed likely that ETH’s price would skyrocket on the charts.
Ethereum Fractal May Raise Prices

Fractals are useful indicators to identify turning points in the market. They are often used to identify the direction the price will move. Interestingly, Ethereum saw a fractal indicator in 2017 that included four technical patterns that increased the price of ETH by 7,000%.

The pseudonym analyst Jaydee_757 first saw the Etherum fractal and pointed out that the same set of bullish indicators flashed again in 2021.

In 2017, a bullish auction price structure pushed ETH’s monthly RSI into an extreme overbought zone above 94. This triggered a short-term sideways consolidation, lowered the RSI reading and, in turn, a correction in the Stochastic RSI.

However, in late 2017, the Stochastic RSI passed and became bullish with its blue line crossing the saffron line. This crossing between the %K and %D lines further reinforced the bullish search, giving way to 5x gains.

By January 2018, the value of altcoin had risen another 500%, closing above $1,200. It coincided with the RSI, forming a double top.

In particular, Ethereum seemed to reflect the same fractal movements as 2017 when it entered the fourth quarter of 2021. A strange similarity can be seen in the 2017 and 2021 RSI structures, as they both experienced a double top and are oversold in the market. . monthly chart.

After the bullish hammer blow, the price of ETH increased 70 times in just six months. In the longer term, the alt rose 3,400% to hit $4,300, 16 months after painting a bullish RSI crossover.
This is what the metrics tell us

Ethereum’s NVT index reached its highest value since February 2020 on October 4th. These high NVT values ​​indicate that the network value exceeded the value transferred to the network.

While this often involves a price bubble, in the case of ETH it can represent legitimate stages of growth.

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Kraken donates $ 150,000 in Bitcoin to the Black Bitcoin Billionaire Group

The bitcoin exchange gave the group a concession earlier this summer, totaling 4.5 BTC at the time.

Kraken announced a $ 150,000 Bitcoin Black Bitcoin Billionaire pool focused on diversity.

The dealership was ordered earlier this summer for a total value of 4.5 BTC.

Black Bitcoin Billionaire will invest funds in capacity building projects and services in the black tech community.

Bitcoin Exchange Kraken has announced a $ 150,000 donation to Black Bitcoin Billionaire, an organization focused on promoting inclusion and diversity in the Bitcoin space. The grant was ordered earlier this summer, according to Bitcoin magazine, for a total value of 4.5 BTC.

“Our main goal is to educate and support the Black Bitcoin community,” Lamar Wilson, co-founder of Black Bitcoin Billionaire, said in the announcement. “By working with companies like Kraken, we will be able to invest in technology that turns ideas into tangible products or services. We couldn’t be more excited. “

The group will use the funds received at its discretion, Kraken said, to fund projects by Bitcoin entrepreneurs from minority communities. The donation will support Wilson and Isaiah Jackson, also a co-founder of Black Bitcoin Billionaire, to launch a series of three Tech Demo Days, a competition to provide financing to black tech companies.

“In 2020, about 13% of black families in the United States did not have a bank account. This is a huge loophole in our legacy financial system, for which there is no public alternative of last resort, “Kraken CEO Jesse Powell said, according to the announcement.

“Not having a bank is expensive and disproportionately affects our poor and minority communities. Bitcoin offers relief to the 1.7 billion unbanked adults around the world – a new financial system created by the people, for the people. The only obstacle now is education, ”Powell added.

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U.S. Bank Launches Crypto Custody Services Amid Strong Demand From Institutional Clients

The US bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years,” the bank said.

US Bank Now Live Custody Encryption Services

The US bank announced Tuesday that its cryptocurrency escrow services are now live and available to its Global Fund Services clients.

U.S. Bancorp, with nearly 70,000 employees and $ 559 billion in assets as of June 30, is the U.S. holding company. Bank, the fifth largest bank in the country. The Minneapolis-based company serves millions of customers locally, nationally and globally. As of June 30, the US bank Wealth Management and Investment Services had more than $ 8.6 trillion in assets under custody and management and $ 282 billion in assets under global management.

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The services are aimed at privately funded institutional investment managers in the United States or the Cayman Islands who want an escrow solution for bitcoin, with additional support for future currencies.

“NYDIG, a leading Bitcoin financial services and technology company, is the first crypto sub-custodian announced on the bank’s provider network,” he adds. The New York Digital Investment Group (NYDIG) is the bitcoin investment arm of Stone Ridge Asset Management.

Gunjan Kedia, Vice President of Investment Services and Wealth Management, U.S. Bank said:

Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years. Our institutional custodian and our fund clients have improved their cryptocurrency offering plans and, in response, we have made it a priority to accelerate our ability to offer escrow services.

The US bank first established its blockchain and cryptocurrency practice in 2015, when the price of bitcoin was below 200. The price of BTC currently hovers around $ 50,000.

The bank announced the launch of three cryptocurrency offerings in April to meet “growing customer needs.” The first was the guard duty, which is now active. The second was an investment in Securrency, a developer of institutional-level financial and regulatory technology based on blockchain. The third was that the US bank had been selected to manage NYDIG’s bitcoin ETF this year, pending regulatory approvals.

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El Salvador begins mining Bitcoin using geothermal energy from volcanoes

El Salvador started mining Bitcoin (BTC) using geothermal energy extracted from volcanoes.

Salvadoran President Nayib Bukele, who led the country’s movement to adopt the BTC as legal tender, unveiled a teaser video to his 2.9 million followers showing clips from the new mining facility.

Bukele also shared a screenshot of a portfolio the country uses to collect the BTC generated by its mining operations. At the time of Bukele’s post, 0.00599179 BTC, valued at $286, had been extracted with energy from volcanoes.

“We are still testing and installing, but this is officially the volcano’s first Bitcoin mining operation.”

Bukele said in June that he asked El Salvador’s geothermal energy company LaGeoSV to create a Bitcoin mining facility using “very cheap, 100% clean, 100% renewable, zero energy. Emissions” from the country’s volcanoes.

The Central American nation, known as the “Land of Volcanoes”, became the first country in the world to adopt Bitcoin as its legal currency, despite protests and polls showing that a large part of the population does not disagree. .

About 25% of El Salvador’s current energy comes from geothermal energy, according to a report by Unidad De Transacciones, manager of the country’s electricity market.

Bitcoin changed hands at $48,061 at the time of writing, a 14% increase from the $41,002 seven-day low, according to CoinGecko.