Top Trending Cryptocurrency News of the Week: Ethereum’s Constantinople, Elon Musk, Square App and Nasdaq Among Major Newsmakers


Cryptocurrency news
Cryptocurrency news

Top Trending Cryptocurrency News of the Week: Ethereum’s Constantinople, Elon Musk, Square App and Nasdaq Among Major Newsmakers

Key highlights

 

  • Crypto Indices on Nasdaq goes live
  • Bitcoin contributes Big to Square’s Revenues
  • Ethereum’s Constantinople and St. Petersburg upgrades go live smoothly
  • Indian Apex Court gives government 4 weeks to bring in policy
  • Musk says Bitcoin not good for Tesla

 

 

 

Crypto Indices on Nasdaq goes live

Well after a wait of around 2 weeks since the announcement Nasdaq is gone live and is providing real-time BTC and ETH index level information on its Global Index Data Service (GIDS), which already houses more than 4,000 other indexes. BNC Liquid Index or BLX, as it is called, provides the index that takes into account the prices of Bitcoin and trading data from across leading crypto exchanges which include Bitfinex, Bitstamp, Coinbase Pro, Kraken, Gemini and itBit. The Ethereum index ELX is calculated using similar methods.

Bitcoin contributes Big to Square’s Revenues

Square, the company behind the Cash payment App, recently filed its annual earning report for 2018 and according to the said financial report, the company earned USD 464 million of the total revenues in Q4 which in percentage terms is a 64% hike over last year. While the overall growth has been slow for the company compared to street expectation, the company continued to grow its bitcoin purchases. The company realized $37 million, $43 million, and $52 million in bitcoin sales in Q1, Q2, and Q3, respectively. Square CEO Jack Dorsey has long been a public advocate of Bitcoin and has even hinted to Lightning Network transactions entering Square Cash soon.

Ethereum’s Constantinople and St. Petersburg upgrades go live smoothly

After so much of delay and struggle Ethereum fork has undergone smoothly this week. As anticipated, Ethereum’s Constantinople and St. Petersburg upgrades went live at Ethereum ETH,  block 7,280,000. While the upgrade of Constantinople will implement 4 Ethereum Improvement Proposals (EIPs), but cryptocurrency speculators are probably most interested in EIP 1234, which delays Ethereum’s “difficulty bomb” and cuts the Ethereum block reward from 3 to 2 ETH to compensate for this change. The lesser spoken St. Petersburg upgrade fixes issues that were created on Ethereum testnets such as Ropsten when Constantinople was originally deployed on them.

Indian Apex Court gives government 4 weeks to bring in policy

India, one of the biggest global markets for payments and cryptocurrencies, is currently fighting out the legal battle for to legalize in its Apex court. After a wait for a few months the, apex court of the country has given a 4-week deadline to the central government of the country to bring a cryptocurrency policy in 4 weeks. The next hearing of this case is 27th March is expected to be a date when the court might announce its judgment.

Musk says Bitcoin not good for Tesla

Tesla CEO Elon Musk who owns 0.25 Bitcoin has clarified that the US-based electric car making company will not get involved in cryptocurrency. In an ARK Invest’s podcast, Musk told Cathie Wood, “Bitcoin’s structure is brilliant but I don’t think it would be a good use of Tesla’s resources to get involved in crypto.” While Musk agreed that crypto is a far better way of money transactions than the usual paper way, “Bitcoin is very energy intensive,” he said.

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Top Trending Cryptocurrency News of the Week: Ethereum’s Constantinople, Elon Musk, Square App and Nasdaq Among Major Newsmakers
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Top Trending Cryptocurrency News of the Week: Ethereum’s Constantinople, Elon Musk, Square App and Nasdaq Among Major Newsmakers
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Key highlights Crypto Indices on Nasdaq goes live Bitcoin contributes Big to Square’s Revenues Ethereum’s Constantinople and St. Petersburg upgrades go live smoothly Indian Apex Court gives government 4 weeks to bring in policy Musk says Bitcoin not good for Tesla
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Abhinav Agarwal

A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com

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Abhinav Agarwal 91 Articles

A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com

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