The Daily: Speculators and Investors Hodl, Venezuelans Send Crypto With SMS
A study has detected stability in the amounts of bitcoin held for both speculation and investment during the last several months through August. Also in The Daily, Opera launches its much-vaunted desktop browser with built-in crypto wallet, a new service offers Venezuelans SMS-controlled platform for cryptocurrency remittances, and website-building platform Wix integrates coin payments for merchants.
Also read: Rethinking Bitcoin’s Market Cap, ICOs Printing Money
Study Finds Investors, Speculators Hodled This Summer
The amount of bitcoin core intended for both speculation and investment have remained relatively stable during the summer months in comparison to the previous period since December, when a large number of speculators entered the crypto market, while many long-term investors sold approximately $30 billion of the cryptocurrency. According to the latest update of a study conducted by the analytics firm Chainalysis, between May and August around 23% of the available BTC (4.8 million) was held for speculation, and 30% (6.4 million) was held for investment purposes.
According to the authors, the findings indicate that the space has become less sensitive to hype, meaning that nowadays crypto prices are not influenced so much by news, positive or negative. They believe the market has recalibrated following the entry of many new participants since 2017. As such, a major price move can be expected only in the event of a significant change, such as the introduction of restrictive regulations or important technological improvements. The researchers also point out that the continued presence of both long-term investors and new speculators signifies the expansion of the user base in terms of more people acquiring cryptocurrency, but growth will also depend on the next step towards wider adoption.
Opera Launches Desktop Browser With Wallet
Opera, which is trying to attract more crypto enthusiasts, is releasing a desktop edition of its browser that comes with a built-in cryptocurrency wallet, as promised this past August. At this stage, the application has been offered for beta testing only. A select group of testers with early access can pair their desktop wallets with those in the Opera mobile browser for Android, while regular users will be able to take advantage of the functionality after the official release of the software.
The new version called Opera Labs allows users to control their cryptocurrency funds and browse decentralized apps based on the Ethereum network. A representative of the company, quoted by Hard Fork, confirmed interest in expanding the features to include support for other blockchains as well. The integration with the mobile app means that signing ETH transactions will require a confirmation with a fingerprint scan using a smartphone. The developers claim that the associated private keys are stored on the phone’s hardware and will not be transmitted.
Crypto Remittances via SMS Offered to Venezuelans
Cross-border transactions and payments have been hit hard in economically troubled Venezuela whose citizens have experienced the negative effects of hyperinflation, international sanctions and government instituted reforms. A new service has been launched to offer Venezuelans fast and easy remittance in cryptocurrency.
Dash Text, an offline wallet operated with short text messages sent via the GSM network, has been launched in the South American country where many people have mobile devices but less than half of the population uses smartphones, while electricity and internet outages are a common occurrence. A beta version of Dash Text, an SMS service introduced by a Venezuelan company, is now available to subscribers of one of the country’s three major telecoms, Movistar. Using simple text commands, users will be able to set up a wallet, receive and send dash.
It’s been estimated that every year Venezuelans residing abroad send at least $1 billion in remittances to their families back home. However, new tightened rules governing remittance have seriously complicated the process. Dash, a cryptocurrency with features offering fast transfers and improved privacy, has enjoyed growing popularity in Venezuela. Another option for locals to transact in dash comes with the KRIP phones designed with a built-in dash wallet and functions enabling the purchase and spending of the altcoin.
Website Builder Wix Adds Support for Crypto Payments
Wix.com, a platform that allows users to create websites without the need to become or employ programmers, has recently integrated a service that will make it possible for online merchants to accept crypto payments. The new billing method has been introduced thanks to a partnership with the Cyprus-based company Decentralized Vision, which raised $117 million through a private sale earlier this year to fund the development of its Pumapay project. The payments will be processed using its native PMA tokens. Wix claims to have more than 110 million users of its point-and-click system for building internet pages.
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Images courtesy of Shutterstock, Chainalysis.
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