In the past 24 hours, the crypto market made a recovery by adding $19 billion to its value right after our latest crypto news about the Bitcoin price surging up to $4,300.
After dipping below the $3,000 region, bitcoin went on in an unexpected rally while it managed to raise more than 15 percent in a 24 hour period. This new position for Bitcoin allowed the entire crypto market to recover. Also, almost all of the major cryptocurrencies including Stellar, Cardano, TRON and Monero, manifested gains from 15-25 percent.
For example, the price of TRX increased by 3 percent going up to $0.016 which is actually the biggest gain out of all other cryptocurrencies. The increase in price could be triggered by the integration of TRON by BitTorrent. The BitTorrent network serves more than 100 million users and TRON immediately got the access to an already active global user base.
The founder on TRON, Justin Sun said:
“BitTorrent joins a growing list of online companies whose products and services accept TRX as payment. With BitTorrent’s over 100 million users, the move helps increase the use of TRX in online marketplaces while giving consumers more options to unlock value from BitTorrent’s premium products.”
TRX demonstrated already a large short-term price movement because it is simply in a better position than it was. Also, the strong movement of Bitcoin managed to let the number one cryptocurrency to establish a $3,000 price region.
If the volume and momentum of Bitcoin can be sustained in the short-term, the entire crypto market is expected to go through a positive movement until the month ends.
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“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
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