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.
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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WORLD CUP SEMI-FINALS
England v New Zealand
(Saturday, 12pm UAE)
Wales v South Africa
(Sunday, 12pm, UAE)
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. Russia's Muslim Heartlands
Dominic Rubin, Oxford
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
The UAE's journey to space
Why are you, you?
Why are you, you?
From this question, a new beginning.
From this question, a new destiny.
For you are a world, and a meeting of worlds.
Our dream is to unite that which has been
separated by history.
To return the many to the one.
A great story unites us all,
beyond colour and creed and gender.
The lightning flash of art
And the music of the heart.
We reflect all cultures, all ways.
We are a twenty first century wonder.
Universal ideals, visions of art and truth.
Now is the turning point of cultures and hopes.
Come with questions, leave with visions.
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new answers are given wings.
Why are you, you?
Because we are mirrors of each other.
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We connect, we inspire, we multiply illuminations
with the unique light of art.
Ben Okri,
