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Bank of America: 90% of respondents plan to buy cryptocurrencies in the next 6 months

Despite bearish market sentiment, most cryptocurrency holders plan to buy “some amount of crypto” before the end of the year.

A new Bank of America survey shows that interest in cryptocurrencies remains high among Americans, with more than 90% of respondents saying they plan to buy cryptocurrencies within the next six months.

According to Jason Kupferberg, an analyst at Bank of America, the survey was conducted on June 1, after the collapse of Terra Luna. The sample size was 1,000 US adults.

In an interview with CNBC’s ‘TechCheck’, Kupferberg added that the percentage of respondents looking to buy cryptocurrencies was similar to the number they said they bought during the first six months of 2022.

Bitcoin adoption and payments

Regarding the use of Bitcoin and other cryptocurrencies, the bank says that adoption is not very pronounced.

However, with more movement towards payments tied to cryptocurrencies such as Coinbase’s Visa card, connecting with merchants and users is much simpler and more useful to bring new impetus to the industry.

Bank of America also says that the cryptocurrency market is unlikely to see a major shift in the global adoption of many cryptocurrencies and cryptocurrency exchanges. Comparing it to the dot-com era, Kupferberg says it is very likely that some of the projects will die out, before those that survive have wider adoption.

Stock and BTC price correlation

The BofA analyst also noted that Bitcoin remains highly correlated with equities, especially high-growth tech stocks. This lock trade has the price of BTC falling along with market downturns, trending towards a bear market as major stocks sell off.

On Monday, the price of Bitcoin dropped nearly 18%, with negative headlines about the Celsius Network compounding the downward pressure. The BTC/USD pair dropped to a 24-hour low of $22,725.

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Caribbean Islands, Dubai, Mumbai: Bitcoin Cash Adoption Continues to Grow Worldwide

Bitcoin Cash supporters have been known to spread adoption over the years and 2022 is no different. This year, the peer-to-peer cryptocurrency bitcoin cash has seen significant adoption in the Caribbean islands, along with places like Dubai and Mumbai.

Bitcoin Cash Advocates Continue to Promote Peer-to-Peer Cryptocurrency Adoption

According to the map.bitcoin.com website, there are thousands of merchants around the world that accept bitcoin cash (BCH) for goods and services. Additionally, if one visits the r/btc Reddit forum, one will notice a plethora of posts highlighting adoption in places like Dubai, Mumbai, St. Kitts and Nevis, and St. Marten.

Bitcoin.com News previously reported on St. Maarten, Rolando Brison, revealing that he requested that his entire salary be converted into bitcoin cash. Map.bitcoin.com indicates that there are more than 160 merchants that accept BCH in the region.

Bitcoin Cash is now accepted by the Caribeeats platform (caribeeats.com) and BCH can be used to deliver food and groceries to more than 15 different countries. Caribeeats serves regions such as Barbados, Dominica, Grenada, USA, Jamaica, Montserrat, St. Saint Kitts, St. Lucia and much more.

Starting today, https://t.co/jo5L9YGhz9 accepts #BitcoinCash! Try it today in #Antigua #BVI #Barbados #Bahamas #Caribbean #Grenada #GUYANA #London #Trinidad #USA https://t.co/K8GOsZM66j pic.twitter.com/SQxZRcVPAp

— Roger Ver (@rogerkver) May 28, 2022

Numerous Reddit and map.bitcoin.com posts reveal that BCH is beginning to make a presence in Dubai at establishments such as Masala Mantra, Tandoori Junction, Great Wok, Bermuda Diving Center, X Factor Restaurant, Franck Muller Middle East and India, Perfetto Pizzeria and Business Town.

Similarly, BCH adoption is also taking place in India’s de facto financial hub, Mumbai. In mid-April, Hosanna House Montessori School, an all-boys school located in Mumbai, announced that it had become the first Montessori school in India to accept BCH.

On June 2, the Nahar Medical Center revealed that it has become the first medical center in India to accept bitcoin cash. In Mumbai, BCH is also accepted at Jayant, Paramount Sports n Nutrition, Vig Refreshments, Super Waves, Copa, and Haute Dog Pet Salon & Boutique Store.

Bitcoin Cash has been gaining significant adoption in the twin-island Caribbean nation of St. Kitts and Nevis, as the region has a total of 159 merchants accepting BCH, according to map.bitcoin.com. Last month, Club Dubai in St. Kitts revealed that it accepts bitcoin cash (BCH) payments, and Kentucky Fried Chicken (KFC) in St. Kitts adopted BCH.

Bitcoin cash is also accepted at Burger King St. Kitts and the Panda supermarket on the island accept BCH. in St. Kitts, the crypto is also accepted at Sun Island Clothes, Karma Asian Cuisine, Econo Retail Shop, and Oracle Martial Arts Academy.

Merchants that accept bitcoin cash are prominent in several other regions of the world, including Anguilla, Antigua, Japan, Venezuela, Slovenia, Australia, Philippines, Vietnam, Ghana, Zimbabwe, Argentina, and more. Additionally, a good portion of businesses that accept BCH for payments accept the digital currency directly, rather than using a third party or payment processor.

Businesses that accept cryptocurrencies can be found at map.bitcoin.com, but BCH users can also take advantage of the Green Pages and Acceptbitcoin.cash websites to view physical and online merchants that accept peer-to-peer cryptocurrency assets.

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Top Coins To Buy As We Enter The Second Half Of 2022

2022 seems to have passed very quickly for most cryptocurrency investors. The market did not perform as expected, but we did not see any big drops. As we enter the second half of the year, there are some opportunities to make some serious money. This is why:

Most of the coins haven't really made it to the top and are still heavily discounted.



The second half of the year could bring a change in fortunes as more investors enter the market.



The general outlook for many coins remains good, even with the drop during the first half of 2022.

So, we decided to create a list of two coins that we think could explode in the latter half of 2022. Here they are:

Polygon (MATIC)

In early 2022, a coin destined for great things was the Polygon (MATIC). Analysts around the world felt that the altcoin would challenge big projects like Ethereum and Solana. This was after MATIC delivered incredible profits to investors a year earlier.

But fast-forward six months to 2022, MATIC has shrunk dramatically. At the moment, it is very difficult to see how the altcoin will live up to the high expectations set earlier in the year. But we think that Polygon and its fundamentals will be good enough to attract more buyers. As such, MATIC can offer growth of up to 4x the current price.

cosmos (atom)

One thing we love about Cosmos (ATOM) is his incredible resilience. Yes, the coin has suffered losses this year. But compared to the rest of the market, it actually managed to avoid big sales.

We also believe that the coin is significantly undervalued, especially when you look at its roadmap and vision for the future. For this reason, ATOM is highly recommended for the rest of the year.

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Crypto Exchange Coinbase Reveals New DApp Wallet and Browser for Ethereum (ETH) Network

US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem.

The cryptocurrency exchange says it is launching a new DApp wallet and browser that will allow users to purchase digital collectibles, trade crypto assets on decentralized exchanges, and participate in decentralized finance (DeFi).

The new Ethereum-based wallet and DApp browser will be directly accessed from the Coinbase app and will initially be available to a limited number of US users. The DApp wallet and browser will also initially be available on the Android mobile operating system.

“We will launch the ability for a small set of Coinbase app users to access Ethereum-based DApps directly from the Coinbase app. This includes buying NFTs [non-fungible tokens] on marketplaces like Coinbase NFT and OpenSea, trading on decentralized exchanges like Uniswap and Sushiswap, and borrowing, lending or trading on DeFi platforms like Compound and Curve.”

According to Coinbase, interest in DApps and the third generation of the internet, or Web 3.0, skyrocketed with the total value locked in Ethereum-based DeFi protocols exceeding $110 billion, while token sales did not. Fungibles (NFTs) topped the US$30 billion. in the last 12 months.

One of the features of the new Coinbase DApps is an improved recovery process in case of loss of access to a device.

“With today’s release, users can explore DApps without having to manage a recovery phrase.

This innovative DApp wallet experience is powered by Multi-Party Computation (MPC) technology that allows you to have a dedicated on-chain wallet that Coinbase helps keep secure. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase.

Ultimately, this means that if you lose access to your device, your DApp wallet key will still be safe and Coinbase can help you with recovery through our live support.”

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Cryptocurrency fanatic Elon Musk bought Twitter

Elon Musk, the South African billionaire and businessman known for Tesla and SpaceX, bought Twitter from Jack Dorsey. The irony of the situation is that one of the biggest cryptocurrency fans is selling one of the world’s largest social media platforms to one of the biggest cryptocurrency fans.

Elon Musk is the new owner of Twitter

Elon Musk swore that his ownership of Twitter will bring a new level of freedom of expression that many users have not experienced or witnessed lately. Twitter, under Dorsey’s ownership, had a bad habit of isolating conservatives and suspending or outright banning anyone with Republican or right-wing leanings (like My Pillow’s Mike Lindell).

In his testimony before Congress in 2018, after the US Senate decided to crack down on social media platforms in the wake of the Cambridge Analytica-Facebook scandal, Dorsey claimed that these conservative departures were not happening for nothing. his hand, but by Twitter. algorithms”.

He said this was something the company needed to “work on”, although considering that President Donald Trump, one of the best-known conservatives, was permanently banned from the platform a few years later in 2021, it can be assumed that neither Dorsey nor any of his colleagues did anything to prevent this behavior from continuing. Congress is also to blame for not treading a little harder.

Musk is a huge fan of cryptocurrencies, for a long time he has spoken highly of Dogecoin and bitcoin. At the time of this writing, various pieces of Tesla-based products can be purchased with Dogecoin, a popular meme currency, and there was even a brief period in early 2021 where bitcoin could be used to purchase Tesla vehicles. , although this movement was later. . canceled because Musk was concerned about the environmental implications of the BTC mining process.

What does this mean for BTC?

Of course, the big question now that Musk owns Twitter is whether the move will give Bitcoin and its digital counterparts a stronger online presence. To be fair, Dorsey, who has long been a bitcoin supporter and was one of the first major institutional investors in BTC through his company Square, has long been pushing the BTC agenda and seeking to establish bitcoin as a leading digital currency. . At the time of writing, the many content creators on Twitter can even get tips and earn rewards in BTC.

But Musk, while also a supporter of cryptocurrencies, seems to love digital currencies in a different way than Dorsey, as he has long promoted separate currencies and his approach to BTC has been more cautious. For example, in ending his acceptance of the coin for Tesla purchases, Musk said he will reconsider if miners are willing to be more transparent about their energy sources.