• About Us
  • Contact Us
  • Home
  • Write for us
Today Headline
No Result
View All Result
  • breaking news today
    • Politics news
    • Sports
    • Science News
  • Entertainment News
  • Technology News
    • Automotive
  • Health News
    • Lifestyle
    • Insurance
  • Finance News
    • Money
  • Enterprise
  • Contact Us
  • breaking news today
    • Politics news
    • Sports
    • Science News
  • Entertainment News
  • Technology News
    • Automotive
  • Health News
    • Lifestyle
    • Insurance
  • Finance News
    • Money
  • Enterprise
  • Contact Us
No Result
View All Result
TodayHeadline
No Result
View All Result

Cryptocurrency trading surged amid Tesla bitcoin buy

March 6, 2021
in Technology News
0
Cryptocurrency trading surged amid Tesla bitcoin buy


Cryptocurrency trading surged to record levels in February as the price of bitcoin swung wildly following Tesla’s $1.5 billion investment, new data show.

Crypto trading volumes soared 17 percent to more than $2.7 trillion last month as the electric-car maker and other major companies started to embrace digital currency, according to a Friday report from industry data provider CryptoCompare.

The jump came as the price of bitcoin — the world’s biggest and oldest cryptocurrency — hit a record high above $58,000 on Feb. 21 thanks in part to bullish comments from billionaire Tesla CEO Elon Musk.

But crypto trading was heaviest two days later on Feb. 23, when bitcoin went through a “sharp correction” and plunged to around $43,000 after Musk tweeted that the price looked “high,” according to CryptoCompare.

Nearly $160 billion in cryptocurrency changed hands that day, marking a new all-time record for trading volume, the firm’s report says.

Elon Musk
Elon Musk
Bloomberg via Getty Images

The data points to both the growing popularity of cryptocurrency and the big price swings that could hamper its widespread use as an investment asset or payment method.

The trading spike coincided with signs that cryptocurrency was nevertheless gaining traction among big corporations and institutional investors. Mastercard and BNY Mellon announced last month that they would support crypto payments and investments, and CME Group launched futures trading for Ether, the second-largest cryptocurrency by market value.

The bulk of the elevated trading flowed through the biggest crypto exchanges, which saw their volumes surge 35 percent to $2.4 trillion, according to CryptoCompare.

Smaller exchanges, on the other hand, saw their volume shrink by 36 percent to $381 billion, the firm’s data show.

Bitcoin
The price of bitcoin — the world’s biggest and oldest cryptocurrency — hit a record high above $58,000 on Feb. 21 thanks in part to bullish comments from billionaire Tesla CEO Elon Musk.
Getty Images

Tags: BitcoinbuyCryptocurrencysurgedTeslaTrading
Previous Post

Tipping etiquette isn’t what it used to be during COVID-19

Next Post

Illegal explorers let off with a warning after getting stuck in drains

Related Posts

OneButtonPIN increases security for blind and low-vision tech users
Technology News

OneButtonPIN increases security for blind and low-vision tech users

A person using the OneButonPIN...

Read more
Improving data security for a hybrid society: Insights from new study
Technology News

Improving data security for a hybrid society: Insights from new study

Researchers at the Tokyo University...

Read more
A continuum robot inspired by elephant trunks
Technology News

A continuum robot inspired by elephant trunks

Bio-inspired continuum robot constructed by...

Read more
A versatile robo-dog that runs through a sandy beach at 3 meters per second
Technology News

A versatile robo-dog that runs through a sandy beach at 3 meters per second

Adaptability of the proposed controller...

Read more
Harvesting big energy from small movement
Technology News

Harvesting big energy from small movement

Scanning electron microscope image of...

Read more
Load More
Next Post

Illegal explorers let off with a warning after getting stuck in drains

  • Trending
  • Comments
  • Latest

Company accused of massive Medicare fraud

Priscilla Presley on ‘a dark painstaking journey’ after daughter Lisa Marie’s death

Jürgen Klopp reflects on “little step” in the right direction as Liverpool earn draw vs Chelsea

Brock Lesnar just took out Bobby Lashley! 🤯 #WWE #WWERAW #RAWXXX #Shorts

Low-cost housing: how can you escape the rent rat race? | Saving money

OneButtonPIN increases security for blind and low-vision tech users

OneButtonPIN increases security for blind and low-vision tech users

Life after leprosy, a long neglected disease

Life after leprosy, a long neglected disease

The Masked Singer UK 2023 LATEST — Rumours over Pigeon's identity swirl as fans say Jacket Potato is ANOTHER UK comedian

The Masked Singer UK 2023 LATEST — Rumours over Pigeon’s identity swirl as fans say Jacket Potato is ANOTHER UK comedian

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Low-cost housing: how can you escape the rent rat race? | Saving money

OneButtonPIN increases security for blind and low-vision tech users

OneButtonPIN increases security for blind and low-vision tech users

Life after leprosy, a long neglected disease

Life after leprosy, a long neglected disease

Low-cost housing: how can you escape the rent rat race? | Saving money

OneButtonPIN increases security for blind and low-vision tech users

OneButtonPIN increases security for blind and low-vision tech users

Life after leprosy, a long neglected disease

Life after leprosy, a long neglected disease

  • Real Estate
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Go to mobile version