Bitcoin market analysts are guessing on what sparked the cryptocurrency's price surge on Monday, with some predicting that a short squeeze of extremely leveraged traders may have contributed to price pressure.
After Bitcoin (BTC) price surged above $40,000 for the first time in over six weeks on July 26, bull market optimism returned to the cryptocurrency industry.
Today's surge to $40,581 was a continuation of the July 25 breakout, which saw BTC price soar to $48,110 on Binance after a short squeeze liquidated roughly $500 million in shorts in just two minutes. This year, the number of crypto ATMs deployed worldwide surged by more than 70% to 24,030.
According to Coin ATM Radar statistics, the increase compares to a nearly 120 percent increase for the entire year of 2020. With five months left in the year, the 10,037 machines installed in 2021 have already surpassed the 7,620 introduced in 2020.
Today's Polkadot price is $13.79 USD, with a trading volume of $1,323,801,650 USD in the last 24 hours. In the last 24 hours, Polkadot has lost 6.41 percent of its value. Polkadot is an open-source sharding multichain protocol that allows any data or asset type, not just tokens, to be transferred across chains, making a wide range of blockchains compatible.
Binance, a cryptocurrency exchange, is considering an initial public offering (IPO) in the United States. While speaking at the "Redefine Tomorrow" event organized by SCB 10X, Siam Commercial Bank's venture arm, Binance CEO Changpeng Zhao (CZ) reportedly hinted to the prospect of a future IPO. He did say, though, that the IPO strategy was "not 100% fixed yet."
Elon Musk's message to Dogecoin owners hoping to make a lot of money may be found here.
Elon Musk, the CEO of SpaceX and Tesla, has once again sent out a letter to Dogecoin supporters, declaring that the canine-faced meme currency "is money" in an attempt to promote his favourite cryptocurrency.
Amazon has publicly refuted a claim in a British tabloid that the e-commerce behemoth planned to accept bitcoin payments by the end of the year.
Shopify President Harley Finkelstein said on Monday that merchants on the platform can now sell non-fungible tokens (NFT) to customers directly.
Finkelstein emphasized in his tweets announcing the move that before Shopify's move, merchants would have to sell NFTs through a third-party marketplace, forcing them to give up control of the sale and the client connection.
Top 5 Cryptocurrency prices
Binance Coin: $307.86
The price of cryptocurrency fluctuates a lot and is extremely volatile. Even the most well-known crypto tokens, such as Bitcoin, Ether, Dogecoin, Litecoin, and Ripple, have seen significant price fluctuations.