A cryptocurrency is, most simply, a digital asset. It is called a currency because it was created to work as a medium of exchange in the same way that we use fiat currencies now.
Ether and bitcoin rallied on Tuesday to record highs off the back of a weaker dollar, taproot upgrade and positive investor sentiment.
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Traders have flocked to the new currency and it has seen a 910 per cent increase in price since April 16 to April 20.
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
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The country will be the first to recognise the crypto-currency as legal tender from September 7.
Through crypto ETFs, investors can speculate on the future cost of cryptocurrencies without having to actually hold it themselves.
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A strong rebound off the 20-day EMA will suggest that sentiment remains positive and traders are buying on dips. The bulls will have to push the price above $55.09 to signal the resumption of the uptrend. The next target objective on the upside is $63.08.
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In the last 24 hours, Bitcoin peaked at a new record high price of $68,568.85 according to Coinbase.
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Additionally, 4JNET has its smart contract audited by a world-leading blockchain network security firm. CertiK is known for working with big platforms. Their portfolio includes providing audit services for Binance, Huobi, and OKEx, in addition to blockchain ecosystems like Ethereum, Terra, and Neo.
Transactions are internet-based and are recorded in a blockchain. The blockchain shows the transaction history for each unit and is used to prove ownership. The digital assets are best visualized as virtual tokens. These tokens mean something to the internal system and can be programmed to record financial transactions and other valuable information.
Crypto Mode is an independent news source founded in April 2018. We strive to bring you the latest Crypto news. Our goal is to produce interesting and valuable content to our readers and educate you about cryptocurrency.