Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Some good news finally arrives for crypto investors as bitcoin prices slowly climb back into the green and sustain.
BTC rose 3.21 percent to trade at $6,348.56 as of 12am today.
The rest of the market fared well too, with Ethereum rising 1.77 percent to trade at $323.39.
Ripple increased 2.34 percent to go for $0.306127, while Litecoin jumped by 7.42 percent to sell for $60.68.
Bitcoin suffered heavy losses in the last few weeks, dropping more than $1,000 in just under a week to see prices drop to the lowest point in six months.
Is this the recovery needed to see bitcoin soar?
3.20pm UPDATE: Patent accepted for bitcoin transactions through text message
Intuit has been granted a patent that describes a method whereby Bitcoin payments can be processed by using text messages. The patent was filed to the U.S. Patent Office on June 13, 2014.
The application explained a system that would allow two users to complete their payments using their mobile phones. It would also include a “peer-to-peer virtual currency network” which would store the funds of both the users.
“The method includes receiving, by a payment service from a payer mobile device of a payer, a payment text message comprising a payment amount and an identifier of a payee mobile device of a payee.”
12.30 UPDATE: Bitcoin dominance rate hits 50 percent as investors drop altcoins
According to data from CoinMarketVap, Bitcoin (BTC) now makes up 50 percent of the entire cryptocurrency market capitalization.
Specifically, CoinMarketCap’s bitcoin dominance rate (which is an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency) reached 50 percent for the first time since December 19th, 2017.