“Is Amazon’s acceptance of Bitcoin the cause of its recent surge?”

What’s hot in the world of cryptocurrency?


According to a recent news article, Bitcoin has seen a surge recently in part due to rumors that Amazon will soon begin accepting it as payment. Other possible contributors to the rise of Bitcoin include renewed interest from institutional investors and a decline in cryptocurrency mining in China.


Ethereum has also experienced a surge in value recently. This is reportedly due to increased investment from institutional investors and renewed interest in decentralized finance platforms, which are built on the Ethereum network.


Stablecoin Tether has been in the news lately due to concerns over its transparency and solvency. The company behind the cryptocurrency, Tether Limited, has been accused of not being forthcoming with information about its reserves and potentially lacking the funds to fulfill all of its customers’ withdrawal requests.


Cardano has made headlines recently over the launch of its smart contract platform, which could enable a wide variety of blockchain-based applications. Supporters of the cryptocurrency argue that it is more energy-efficient than its competitors.


Earlier this month, a U.S. judge granted the Securities and Exchange Commission’s (SEC) motion to compel Ripple to produce internal memos that discussed whether offering MHS Coin was a security offering. A report from market researchers over the weekend, meanwhile, suggested that headlines about lost cryptocurrencies may be doing most of the hard work on Bitcoin’s recent price rises. Ethereum and Cardano also saw gains, and both beat Bitcoin’s 23 per cent returns over July.


Solana has climbed to a recent high, owing to growing adoption of its blockchain technology and the growing popularity of its decentralized applications.


Dogecoin, The meme-inspired cryptocurrency, has been in the news lately over plans by Coinbase to soon offer support for trading of the cryptocurrency. Fans of Dogecoin are hoping that the move by the popular trading platform will bring increased interest and adoption to the token.


Polkadot has been growing in stock as the developers have worked out ideas to connect the particular systems with each other – embedding every single player in the blockchain in a broader scenario where a public permission less provides scalability, safety, interoperability and border-lessness to everyone with the appetite and fantasy to join in.


Recent news reports suggest that Avalanche, like other cryptocurrencies on this list, has been surging lately due to growing interest from institutional investors and the larger cryptocurrency market as a whole.

[h/t James Van Straten]