Ferrari to Accept Crypto Payments In the US

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Today’s Cryptocurrency Headline

Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The carmaker also plans to accept crypto payments in Europe. Ferrari’s choice to accept cryptocurrency payments was driven by market demand and dealer requests, with numerous clients, including crypto-savvy young investors, having invested in digital currencies. For its initial phase in the U.S., Ferrari has reportedly partnered with major cryptocurrency payment processor, BitPay. This collaboration enables transactions in Bitcoin (BTC), Ether (ETH), and USD Coin (USDC). BitPay will also verify the legitimacy of the digital currency, ensuring it does not originate from illicit activities, money laundering, or tax evasion.

BingX’s Bitcoin Chart

Source: TradingView & BingX

The weekend remained dull with low trading volume, but it can be observed that in the sluggish market conditions, some altcoins experienced violent surges to attract market attention and funds. This can be understood as a manipulation of spot and futures contracts to harvest profits in a stagnant market. After the harvesting is complete, most of these altcoins will likely return to their low points. Investors participating in such altcoin investments need to remain vigilant at all times. The support level is at $27,000 and the resistance level is at $27,400.

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