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Top 5 Crypto News of the Week!

Photo of: Joseph Stone
by Joseph Stone

PayPal will accept Bitcoin and other cryptocurrencies

We start with one of the biggest news of the year regarding Bitcoin and cryptocurrencies. The online payment giant PayPal has just announced that it will allow its customers to buy, sell and keep Bitcoin (BTC) but also other crypto-actives. Initially, it is the holders of American accounts who will be able to benefit from this new service, but PayPal will then extend its offer to other countries from the first half of 2021. The giant’s customers will therefore be able to use their cryptocurrencies to make purchases at 26 million merchants. It should be noted that Paypal has 346 million active accounts, as many people who will be one click away from Bitcoin. Good news for adoption.

The price of Bitcoin reaches its highest level since the beginning of the year

The previous news certainly had a lot to do with it. Bitcoin reached $13,200 on Wednesday, October 21, its highest price since the beginning of the year 2020. Note that the action of PayPal has also been boosted by this news that benefits both entities. In addition, the Glassnode blockchain data analyzer showed that Wednesday’s increase in the price of Bitcoin was accompanied by a record number of Bitcoin addresses containing more than 0.01 BTC. There are currently more than 3 million of them. All that remains now is to wait for PayPal customers to arrive and the next Bull Run around $20,000.

The first phase of Ethereum 2.0 could be launched before the end of 2020

Ethereum 2.0 seems that it’s finally moving. At least that’s what Ben Edgington, one of the developers of ETH 2.0 and ConsenSys announced. But he is still in the dark. “Basically, as I understand it, we’re ready to launch: deposition contract in the next few days and Beacon Chain 6 to 8 weeks later,” he said. This means that phase 0 of Ethereum’s new version, the Beacon Chain, could arrive in December. But according to a former Ethereum developer close to the file, it could even happen as early as November. For his part, Ethereum co-founder Vitalik Buterin wasn’t more precise, as he simply stated that phase 0 was “very close to its release”. The best thing to do is to wait…

Is Canada planning a digital currency?

Many countries are exploring the possibility of launching their own central bank digital currency. This is the case of China, which is actively working on it, or Japan and the euro zone. It seems that Canada and its central bank are also looking closely at the issue. Indeed, this week, the institution published an unequivocal job offer, it is looking for an “Economist, digital currency and financial technologies” to work on the “potential development of a CBDC”. The candidate will have to be knowledgeable in Bitcoin, Ethereum and other cryptocurrencies, the opposite would have been surprising.