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Amazon Gains Amid Talk Of Digital Currency Foray, Cryptos Jump By Investing.com

by Miki 07/26/2021
by Miki 07/26/2021 0 comment
Amazon Gains Amid Talk Of Digital Currency Foray, Cryptos Jump
© Reuters.

By Dhirendra Tripathi

Investing.com – Amazon (NASDAQ:) stock was trading higher in Monday’s premarket amid speculation that the Cloud and retail giant is exploring venturing into digital currencies.

It emerged last week that the U.S.’s biggest e-commerce company had advertised a vacancy for a digital currency product lead. It hasn’t given any other indication of its intentions toward crypto, however.

(), the largest cryptocurrency by market cap, crossed $39,000 for the first time since June 16, and touched 39,639.9, the day’s highest so far. At 5.20 am ET, it traded at 38,282, almost 11% higher.  

The crypto is still about 40% off the April 14 high of 64,778.

Other cryptos surged too. Ethereum was up 8%, Cardano 10% and Dogecoin 14%.  

Crypto prices have been struggling since a Chinese crackdown on their trading two months ago. China dealt another major blow last month when it shut down cryptocurrency mining projects in Sichuan province. 

Sichuan was China’s second-biggest bitcoin mining province and the country accounted for more than half of global bitcoin production.

Tesla (NASDAQ:) CEO Elon Musk’s comments last week also boosted sentiment for the cryptos. He said the company could again start accepting bitcoin as payment if crypto mining becomes less reliant on fossil fuels. That appears unlikely in the near term, as mining operations have migrated to countries like Kazakhstan, which is just as heavily reliant on coal for its electricity.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

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  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

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