Bitcoin and Ether have reached their highest levels in more than two months after a major ethereum upgrade, defying uncertainty over cryptocurrency rules in the US infrastructure plan.
Bitcoin gained as much as 3.1 per cent to $45,328 on Sunday, its highest level since May 18. Ether increased as much as 3.5 per cent to $3,191, gaining for a fifth day amid the ethereum network’s London upgrade, which reduces the pace of growth in the coins.
“A mood of optimism appears to have returned to cryptocurrency markets,” said Paolo Ardoino, chief technology officer at Bitfinex, on Friday.
“Bitcoin is leading the charge while [Ether] continues to make gains” after its network upgrade. Still, he said, “the turbulence that we have seen in crypto markets over recent weeks is unlikely to subside”.
Cryptocurrencies are showing signs of life again after pulling back significantly from record highs in recent months, a setback blamed on concerns about China’s crackdown and questions fuelled by Elon Musk on Bitcoin’s energy usage.
However, Bitcoin is approaching its 50-day moving average, a mark it has not touched since May 26. And Ether has topped $3,000 again, after its first run above that level lasted for only a couple of weeks.
One factor still creating uncertainty: the US infrastructure bill making its way through Congress, which has duelling amendments that address reporting requirements for cryptocurrency transactions and tax collection.
The bipartisan group that drew up the legislation was counting on the extra tax revenue generated to help pay for some of the bill’s costs.
Still, that is not stopping momentum in cryptocurrencies, the market value of which has rallied back to about $1.88 trillion from a mid-June low of about $1.2tn, according to CoinGecko.com.
Other tokens such as Binance Coin, Cardano, XRP and Dogecoin have also rallied in the past week.
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- Spaces for historical and cultural exploration
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- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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APPLE IPAD MINI (A17 PRO)
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
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Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
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AUSTRALIA SQUAD
Tim Paine (captain), Sean Abbott, Pat Cummins, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Moises Henriques, Marnus Labuschagne, Nathan Lyon, Michael Neser, James Pattinson, Will Pucovski, Steve Smith, Mitchell Starc, Mitchell Swepson, Matthew Wade, David Warner
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Company%20profile
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More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
The specs
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
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Reputation
Taylor Swift
(Big Machine Records)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
BACK%20TO%20ALEXANDRIA
Global state-owned investor ranking by size
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1. |
United States |
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2. |
China |
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3. |
UAE |
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4. |
Japan |
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5 |
Norway |
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6. |
Canada |
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7. |
Singapore |
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8. |
Australia |
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9. |
Saudi Arabia |
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South Korea |
'The Lost Daughter'
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Starring: Olivia Colman, Jessie Buckley, Dakota Johnson
Rating: 4/5
The specs
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Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
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Wonka
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
