Bitcoin Transaction Volumes on Dark Web Dropped in Q1 2020

The Dark Web is one of the most significant reasons why Bitcoin is where it is today. That secluded area of the Internet is notorious for promoting illicit activity, and at a point, Bitcoin was its primary medium of exchange.

However, Bitcoin–related activity on the Dark Web has notoriously dropped over the past year. A new report is punctuating that, showing a significant drop in the volume of Bitcoin transactions recorded on the Dark Web.

Values Surged, but Volumes Dipped

The report in question is coming from Crystal Blockchain Analytics, a blockchain data and intelligence platform. Published on Tuesday, it confirmed that the total dollar value of Bitcoins transferred on the Dark Web surged by 65 in Q1 2020.

Crystal Blockchain Analytics also confirmed that the total value of Bitcoin transacted had grown by 340 percent in three years. The firm attributed this staggering growth to the improved adoption of Read more

Bitcoin Price Prediction: BTC/USD Holds Above its Key Support, Consolidating Around $9,634

Bitcoin (BTC) Price Prediction – May 18

BTC is currently consolidating and seems to be preparing for the next move either above $10,000 or towards $9,500.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $11,000, $11,200, $11,400

Support Levels: $8,200, $8,000, $7,800

BTCUSD – Daily Chart

Looking at the daily chart, BTC/USD is trading at $9,634 following a minor correction from the intraday high at $9,966. The technical indicator RSI (14) clearly shows that the bulls are in control and could continue to pull the price upwards. But the same bulls are also facing their ultimate test to break the key $10,000 resistance zone. Meanwhile, if this resistance is conquered, more buyers may likely join the market in order to capitalize on a possible breakout towards the high of $10,500.

However, the Bitcoin price was rejected at the important level above $9,966; much like it was at $10,000. … Read more

Crypto.com Starts Shipping Out Visa Cards to 31 European Countries

On Friday, Crypto.com stated that it had started shipping its crypto-to fiat card, dubbed the MCO Visa across the European Union’s various countries. A total of 31 countries within Europe, including the 27 member states of the EU. According to the blog post, these countries will now have access to a card that allows its users to pay in crypto. The company, based in Hong Kong, had received initial approval for the program by the relevant European markets back in October of last year.

Expanding Into European Soil

In opposition stands one of the largest crypto exchanges in the world: Coinbase. The company’s own card had been made available to 29 nations across Europe, as per the statement of its FAQs.

Previously, MCO Visa cards were only available within Asia and the US. On another note, however, Crypto.com made it clear on Thursday that its US cardholders will … Read more

Crypto Exchanges See Withdrawal of $220M BTC after Halving

Ever since Bitcoin halved its mining rewards on May 11, the number of BTC withdrawn from crypto exchanges has increased. Data from Glassnode suggests that that people have withdrawn Bitcoin worth $220 million from various exchanges since the halving.

Thousands of BTC withdrawn

According to the Bitcoin Exchange Net-Flow statistics from Glassnode, users have withdrawn around 24,000 BTC from their crypto exchange account since the halving in May. Data from Bituniverse is also suggesting a similar outflow of coins from trading platforms. However, it indicates that this activity is taking place only in certain exchanges.

The price of Bitcoin has gone slightly higher since the halving. The overall hashrate has lost a little hashpower. However, there has been no drastic drop in the overall hashrate, as predicted by some skeptics. On May 12, the total market of Tether (USDT) ballooned higher than that of Ripple’s XRP. At the time, the … Read more

Iron Mining Group Looking at Blockchain Technology for Future Supply Chain Use

BHP Group, a globally prominent mining company, will be utilizing blockchain technology in the near future, according to a report from Reuters.

This Tuesday, the company sold iron ore to China Baoshan Iron & Steel Co Ltd, the report notes. Now, it plans to utilize blockchain to streamline any future transfers like that.

The amount of ore sold was close to $14.1 million in worth, it will take multiple trips to ship over. This is where the blockchain’s intersection with supply chain use cases can help.

Blockchain technology is ideal for companies looking to ship tons of product, such as BHP Group. After all, the technology’s decentralization and autonomy make it so products can be tracked easier, and incentivize supply chain workers along the way.

Say that the Iron is stopping at a city in between the two destinations. The supply chain worker can simply scan the items in, … Read more