Grubhub, an American online food delivery platform, has come up with an exciting new way to engage its users. The company has partnered with Bitcoin rewards company Lolli to allow its users to earn Bitcoin (BTC) on every order. Integrating crypto into a simple routine activity – like ordering food online, is yet another effort at driving crypto adoption. Related Reading | Fold Launches First-Ever AR With Free Bitcoin Rewards Experience Lolli has partnered with many companies in various sectors to offer customers BTC rewards. Serving Bitcoin With Food In a Wednesday announcement, Lolli said that Grubhub customers will earn $5 in BTC on their first order. Subsequently, they would get $1 in BTC on other food orders using the platform’s extension. Before users can enjoy this benefit, they must activate Lolli on web or mobile before placing an order at Grubhub. And after a user earns up to $15, or roughly 0.00026 BTC at the current price of $56,902, they would be able to transfer it to their own virtual wallet. BTC trading at $56.9K | Source: BTCUSD on TradingView.com CEO and Co-founder of Lolli Alex Adelman explained that Lolli’s mission is to integrate bitcoin into aspects of everyday life. “Food delivery is a ritual for many and bitcoin rewards make bitcoin a part of that ritual. Giving users bitcoin rewards on every Grubhub order is an incredible milestone for bitcoin adoption, making earning BTC easier and more accessible than ever,” he said. Grubhub’s Director of Growth Marketing, Bridget Scanlan, also expressed her pleasure with the partnership. For Grubhub, it is yet another way to reward its diners. Last month, the company announced a new innovative food-delivery method to its University of Arizona customers. It now uses delivery robots known as rovers to deliver all orders from on-campus dining locations. Related Reading | Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments Lolli is, however, not the first – nor will it be the last – company in the food industry to integrate crypto into its products. Just last month, fast-food chain Burger King, in partnership with Robinhood, gave its customers crypto prizes. Members of its Royal Perks loyalty program got to earn BTC, Ethereum (ETH), and Dogecoin (DOGE) after spending $5 or more at the fast-food chain. Lolli Steadily Pushing Crypto Adoption According to Lolli, it is the first bitcoin rewards application that allows people to shop online and earn BTC. The company has teamed up with over 1000 top brands and merchants, including Microsoft, Kroger, Sephora, and Macy’s, to offer customers BTC rewards. Lolli believes that bitcoin is a “global alternative currency and universal store of value and wants to share it with the world.” Featured image by Panbeta, Chart from TradingView.com
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Back in March of 2020, those taking position ahead of the Bitcoin halving were blindsided by the Black Thursday market selloff, driven by panic at the onset of the COVID pandemic and subsequent lockdowns. With the new Omicron strain making headlines, and lockdowns once again considered, could the cryptocurrency market be facing another dangerous macro storm and catastrophic collapse? Omicron & The Return Of The Black Swan Trend Line According to Wikipedia, a black swan is “an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.” Black Thursday in March 2020 classifies perfectly as such. COVID came, the market panicked, and Bitcoin collapsed back to $3,800 at the low. It turned out to be a huge overreaction. Related Reading | Want To Learn Technical Analysis? Read The NewsBTC Trading Course Despite the “surprise” factor of the event and the fact no one saw COVID coming, technical analysis proves that these black swan events can be predicted to a point. But what if two black swan events were to happen from touching the same trend line. Would these really be considered black swan events? That’s exactly what’s at risk, given the recent Omicron strain news and related panic, and the fact that Bitcoin price is indeed up against the very trend line that was used to predict Black Thursday’s eventual target to the dollar. Could another black swan arrive with this trend line? | Source: BTCUSD on TradingView.com Why Another Bitcoin Black Thursday Is Unlikely The chart above shows that Bitcoin price was rejected from the same trend line that prompted the COVID correction. The move was so sharp and intense, a polar opposite rally resulted that took the cryptocurrency to more than $65,000 per coin. Bitcoin selling off just as severely wouldn’t necessarily be a bad thing, as the bounce from such an event has shown. But despite the dangerous macro landscape and the stock market sinking, the conditions for the top cryptocurrency are very different this time around. The conditions were very different then versus now | Source: BTCUSD on TradingView.com For one, the arrows depict two rejections from former resistance in 2019, with the second (marked in red) failing to break out of the Ichimoku cloud. That resistance level dated all the way back to the very beginning of the bear market, which is why the Black Thursday rejection was particularly strong. Meanwhile, the current price action more so appears to demonstrate a resistance level being flipped as support. The blue path outlines an expected Elliott Wave motive wave, with three impulses up and two corrective waves. Per Elliott Wave Theory, wave 1 shows there still life left in an asset, but market participants are reluctant to believe the bull market has begun. Related Reading | Finding Fibonacci: Is Bitcoin Beginning A “Golden” Recovery? Because of the remaining bearish sentiment, wave 2 wipes out most of the progress of wave 1, before wave 3 begins. With lows of wave 1 retested at the climax of wave 2, market participants are more confident in a blossoming bull trend, which is why wave 3 tends to be the longest and strongest. EWT refers to this as a wave “extension.” Wave 4 cannot enter into the path of wave 1 and tend to move sideways. This suggests that it is unlikely to see another sharp correction like what happened on Black Thursday in 2020. Whenever wave 4 officially ends, and whether it has or not is still up for debate, targets of $100,000 per coin remain likely for the peak of wave 5. This is the chart I have been following for months now. Until that wedge breaks down, I cannot be bearish on #Bitcoin. The bull market is still on. But has wave 5 begun or not? pic.twitter.com/m04xxz8Kax — Tony “The Bull” Spilotro (@tonyspilotroBTC) December 2, 2021 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
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UK and Swiss based gaming and blockchain company, GAIMIN.IO Ltd has developed a PC-based platform to create a global, decentralised data processing network with “supercomputer” level performance. The GAIMIN platform utilises underused processing power available from high performance GPUs and rewards users in its own cryptocurrency, GMRX, for participation in the GAIMIN data. Why is […]
Bill Ottman is CEO and founder of Minds – an alternative social network with over 5M users. Minds is building an open-source and decentralized app that shares revenue and crypto with its community.