Investing.com – Prices of the major cryptocurrencies were mostly higher on Tuesday in Asia, with Bitcoin still above the key $9,000 level as analysts hailed Facebook’s move into the cryptocurrency arena.
rose 2.1% to $9,267.4 by 11:30 PM ET (03:30 GMT). gained 0.7% to $270.23. jumped 4.3% to 0.44642, but underperformed, slipping 1.5% to $133.058.
Facebook (NASDAQ:) is reportedly launching a new digital asset to be used as a peer-to-peer payment within messenger apps, with some analysts saying the news could be a significant boost for virtual coins.
“Facebook’s efforts in the space has the potential to be one of, if not the most significant external catalysts for Bitcoin and crypto adoption in the technology’s history,” said Spencer Bogart, general partner at Blockchain Capital, in a CNBC report.
Other analysts said the move by the social media giant could motivate other big financial firms to get out of “wait and see” mode.
According to CNBC, the company is also planning the launch of physical, ATM-like machines where users could purchase the currency and that company employees would be able to collect salary in the form of new currency.
In other news, Binance, the world’s biggest crypto trading platform, pre-announced an upcoming $81 million Bitcoin transaction via Twitter on Monday, saying there’s “no need to FUD,” referring to unwarranted fear, uncertainty and doubt.
The company will soon offer a Bitcoin-pegged coin too, according to a company spokesperson.
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.
View original post