Dear PointPay Family,
This week has been full of interesting news and events in the cryptosphere. We have collected the best and most unusual news in our Top 5, so you can keep up to date with the most important events!
Bitcoin ATMs Arrive in Costco Stores Across the US
Bitcoin adoption is taking a major step forward as Costco installs Bitcoin ATMs in all of its US locations. With over 600 stores nationwide, this move significantly expands access to cryptocurrency, making it easier for customers to buy and sell BTC. The expansion follows a pro-crypto stance from the US administration, allowing ATM operators to scale their services. As Bitcoin ATMs become more widespread, they could drive greater mainstream adoption of digital assets.
Crypto Market Shaken as $2 Billion Liquidated
The crypto market saw a sharp downturn, with over $2.27 billion in liquidations after a wave of sell-offs triggered by new US tariffs. Ethereum plunged over 20% to $2,300—its worst intraday drop since 2021—while Bitcoin fell nearly 7%. Long positions accounted for 83% of liquidations, reflecting overconfidence in a sustained rally. With the total crypto market cap shrinking by $500 billion, fear has gripped investors, pushing the market into uncertainty.
Stablecoin Transactions Surpass Visa and Mastercard Volumes
Stablecoins have outpaced traditional payment giants, with transaction volumes exceeding those of Visa and Mastercard combined. According to research, stablecoin transfers reached $27.5 trillion over the past year, marking a 7.5% increase. The rise in adoption is driven not only by retail users but also by financial institutions integrating stablecoins into their payment systems. This shift highlights the growing role of digital assets in the global financial ecosystem.
Bitcoin Hashrate Hits Record High of 833 EH/s
Bitcoin’s network security is stronger than ever, with its hashrate reaching an all-time high of 833 exahashes per second. This marks a 9% increase in just days, despite slowing demand for mining equipment ahead of the 2024 halving. Institutional investment has fueled this growth, ensuring a resilient network. However, miners face profitability challenges as transaction fees remain near historic lows.
Ethereum Validators Back Gas Limit Increase
Ethereum validators have signaled support for raising the network’s gas limit, which determines the maximum computational power available per block. Over 52% of validators have approved the change, surpassing the 50% threshold needed for scaling without a hard fork. The gas limit has remained at 30 million since 2021, and this adjustment could enhance Ethereum’s efficiency while maintaining network stability.
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