Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 522: #Stocks discussed: (NasdaqGS: $PYPL) (NasdaqGS: $EBON) (TSXV: $BITF.V)

Thursday, February 04, 2021

#CryptoCorner #Podcast 522: #Stocks discussed: (NasdaqGS: $PYPL) (NasdaqGS: $EBON) (TSXV: $BITF.V)

#CryptoCorner #Podcast 522: #Stocks discussed: (NasdaqGS: $PYPL) (NasdaqGS: $EBON) (TSXV: $BITF.V)

Ether Hits Another New ATH, PayPal Plans Increase in #Crypto Support Following Positive Response, Ebang Completes Chip Design for LTC and DOGE Mining, and Bitfarms Releases Corporate Update

Point Roberts, WA, Delta BC February 4, 2021 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/020421-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/02041PYPL-EBON-BITF.asp

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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGS:EBON) (TSXV:BITF)

While Bitcoin (BTC) is clocking in at just about the same trading price as yesterday’s Crypto Corner – about $36,500 –Ether (ETH) has registered yet another new all-time high, according to data from CoinMarketCap. Ether peaked at $1,689 in the past 24 hours, though it has since cooled to a trading price of about $1,570 at press time.

Cointelegraph reports that PayPal (NasdaqGS:PYPL) plans to increase its support for cryptocurrencies, following a positive response from its limited buy/sell/hold crypto trading launch. The company’s CEO, Dan Schulman said:

“We … saw an exceptional response from our crypto launch “...The volume of crypto traded on our platform greatly exceeded our expectations.”

Indeed, according to the article, PayPal saw crypto trading volume reach “record highs, peaking at $242 million in transactions on Jan. 11,” after launching the service in November 2020 with a $20,000 per week trading limit in place. Schulman is quoted further:

“We are significantly investing in our new crypto, blockchain, and digital currencies unit.”

Ebang International Holdings Inc. (NasdaqGS:EBON) has completed the designing of a chip for simultaneous Litecoin (LTC) and Dogecoin (DOGE) mining as an addition to its current portfolio of cryptocurrency mining chip designs. Ebang’s Chairman and CEO, Dong Hu, explained:

“The completion of the designing is a credit to our increased investment in R&D in recent years. We have made tremendous efforts to build up our R&D team and accelerate product iteration and innovation. In the future, we will focus on developing more mainstream cryptocurrency mining machines, and we are considering designing more mining chips compatible with multiple cryptocurrencies. We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain.”

Bitfarms Ltd. (TSXV:BITF) has released a corporate update, indicating that it is on schedule to install 3,000 additional miners at the end of February, and that it is assessing options for an expansion and activation of a sixth data centre in Quebec, Canada. The company also revealed that it is actively seeking an additional stock exchange listing in the U.S. Bitfarms CEO Emiliano Grodzki said:

"Higher Bitcoin prices along with a strong management team has allowed Bitfarms to achieve progress which only a few months ago would have only been a dream. We are pleased with our progress and are excited about what is possible in 2021 and beyond. We have built a strong platform that distinguishes Bitfarms amongst its peers. The outlook for further Bitcoin price appreciation is positive and Bitfarms is well positioned to take full advantage."

Sam Mowers, Investorideas

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