Bitcoin has gained significant traction as a payment method. As its acceptance grows, many merchants and services now accept bitcoin for various purchases. Still, many newcomers to Bitcoin ask what they can actually by with the digital asset.

What Can I Buy With Bitcoin: The Spend And Replace Culture

The “spend and replace” Bitcoin culture is a practice where users spend their bitcoin on everyday transactions and then repurchase the equivalent amount with fiat currency.

This approach aims to integrate Bitcoin into daily financial activities, showcasing its utility beyond just a store of value.

By spending bitcoin and replacing it, users contribute to a more…

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The landscape of cryptocurrency ATMs has experienced a notable resurgence, with a 17.8% increase in global installations over the past year, totaling 38,279 machines. This upswing closely approaches the December 2022 peak of 39,541 ATMs. Following a downturn in 2023, where 2,861 machines were removed, the recent additions of 2,564 ATMs in 2024 mark a significant recovery, pointing to revitalized market confidence.

Major operators such as Bitcoin Depot, Coinflip, and Athena Bitcoin dominate the scene, collectively managing over 15,000 ATMs. Bitcoin remains the most frequently transacted cryptocurrency, with other digital currencies like Bitcoin Cash, Ether, and Litecoin also gaining traction. Remarkably, the United States hosts over 82% of the global total, with Canada and a rapidly expanding Australia following.

Despite a brief dip in installations from May to June, June witnessed a robust increase of 377 machines. This positive momentum underscores the growing acceptance and integration of cryptocurrency ATMs across 72 countries, reinforcing the global shift towards digital currency accessibility.

CoinATMRadar

Retail investors in the Bitcoin market are showing renewed interest as recent data reveals a significant increase in new Bitcoin addresses. According to information sourced from Glassnode, the number of new addresses on the Bitcoin network has climbed to 352,124, the highest it has been since April 2024. This uptick could indicate a growing confidence among investors, coinciding with noticeable movements in the market.

The chart, highlighted in a X by @ali_charts, visually contrasts the recent surge in new addresses against Bitcoin’s price trends. Over the past few months, while Bitcoin prices have shown volatility, the number of new addresses has been steadily increasing. This divergence is often viewed by market analysts as a potential signal of upcoming price stabilization or increase, as more participants enter the market..

Over the past four days, approximately 14,000 Bitcoins have been transferred to various cryptocurrency exchanges, accumulating a total value of about $851.20 million. This substantial movement, documented by the analytics firm CryptoQuant, highlights a dynamic shift in the storage of digital assets.

The data reflects a notable increase in Bitcoin reserves on exchanges since June 27, suggesting that traders could be preparing for potential sales or looking to hedge against price volatility. These strategies are often indicative of broader market sentiments and upcoming financial maneuvers.

Market observers are closely monitoring this trend, as the large-scale transfer of Bitcoin to exchanges could directly impact its price. A massive sell-off could depress prices, whereas holding could signal investor confidence, potentially stabilizing or boosting the market value of Bitcoin.

A recent analysis by the cryptocurrency data analytics firm IntoTheBlock has revealed that a substantial 78% of all Ethereum (ETH) is held by long-term investors. This statistic underscores a strong confidence in the long-term viability of Ethereum amidst fluctuating market conditions.

The report includes a graph showcasing the distribution of Ethereum holdings over time, divided into categories based on the duration the ETH has been held: ‘Hodlers’ (1+ year), ‘Cruisers’ (1-12 months), and ‘Traders’ (less than 1 month). The blue line on the graph, representing long-term holders, has shown a steady increase over the past six months, suggesting a significant accumulation phase.

The implications of such a high percentage of Ethereum being held by long-term investors could indicate a lower potential for selling pressure and price volatility. Experts believe this trend might contribute to a more stable market environment for Ethereum, providing a solid foundation for future growth and innovation within the ecosystem.

Coinbase Derivatives is set to introduce margined futures contracts for Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB). The company announced this on June 28 and filed with the CFTC under a self-certification model. These new products are scheduled for launch on July 15.

As the first US futures exchange to offer such contracts for these tokens, Coinbase Derivatives is excited to lead market accessibility. The company believes these contracts will help participants manage risk, speculate on price movements, and invest with lower upfront capital requirements.

To ensure smooth operations, Coinbase Derivatives will partner with the clearing house Nodal Clear, third-party futures commission merchants (FCMs), and retail brokers. The company looks forward to the maturation of these derivatives contracts in a regulated market.

Source

Dogecoin (DOGE) has surpassed a significant milestone, with over 90 million total addresses created. This figure includes all addresses that have ever held Dogecoin, as well as those currently holding the cryptocurrency. As of now, Dogecoin’s total addresses stand at 90.34 million, according to IntoTheBlock data.

However, the total number of addresses with a balance, which indicates current holders, is 6.5 million. The remaining 83.84 million addresses have a zero balance, reflecting past users who no longer hold Dogecoin. This distribution highlights both the widespread historical interest in Dogecoin and the current engagement levels.

Since the start of 2024, the number of addresses with a balance has been steadily increasing. This growth trend signals a robust and expanding user base, indicating rising interest in holding and investing in Dogecoin. An increasing number of active holders is a positive sign for the cryptocurrency’s future, suggesting sustained and growing confidence in its potential.

IntoTheBlock