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U.S. City Installs Crypto ATM at Airport After Accepting Cryptocurrency for Payments
The U.S. city of Williston in North Dakota is installing a crypto ATM at its international airport. “This marks the first government-hosted cryptocurrency kiosk,” the city said. Williston also accepts cryptocurrencies for payments of utility bills.
On Wednesday, the city further announced a partnership with crypto ATM operator Coin Cloud to install a crypto ATM at its Williston Basin International Airport (XWA).
Acala Wins First Parachain Auction Slot on Polkadot
Riding on the strength of over 81,000 community members, Acala Network, an Ethereum-compatible smart contract platform optimized for Decentralized Finance (DeFi), won the first parachain auction on the Polkadot network. The historic milestone comes after investors committed more than 32 million DOT tokens worth more than $1.28 billion.
The DOT was donated as a loan to the Acala Network and is a bill to be repaid by the platform with extra incentives in the form of the protocol’s native token, ACA.
Argentina Enacts New Tax Policy for Crypto Transactions
The Argentinian government has had a change of mind to make the country a tax haven for digital currencies. All individual transactions involving the nascent asset class will now be subject to taxation. The new policy was reportedly formulated to redefine the leverage given to third-party payment service providers operating in the country. As per the reports, individual crypto transactions, as well as debit and credits made through a bank account, will now be subjected to a 0.6% effective immediately.
Ethereum’s co-founder, Joe Lubin, speaks on recent dips in Bitcoin and Ethereum
Bitcoin and Ethereum have been having a rough week. The primary cryptocurrency recently dipped to $59K before finding its footing at $60K. On the other hand, Ethereum is currently trading at a monthly low of $4300.
Ethereum’s co-founder; Joe Lubin, spoke about this development in an interview with Bloomberg stating that volatility in Q4 was higher; hence the dips across the market.
Bitcoin MVRV Shows Top Isn’t In Yet, BTC Still Has Room To Grow
As pointed out by a CryptoQuant post, on-chain data suggests MVRV ratio values are still low right now; implying that the coin hasn’t yet made the top. The Market Value to Realized Value (or MVRV in short) ratio is a Bitcoin indicator defined as the market cap divided by the realized cap.
MVRV Ratio = Market Cap ÷ Realized Cap
The metric’s value tells us whether BTC’s current price is fair or not. If the ratio gets too high, that may be the coin overvalue right now. This may imply there is selling pressure at this point.
Shiba Inu: The Crypto That Outnumbers Bitcoin Trade in India