Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events which still paint a bullish picture for assets like Ether and Bitcoin. In the last 30 days, Ether price gained 96%, moving from $2,138 to $4,200 on May 11. Normally the assumption
Cryptocurrency
After months of touting the benefits of Bitcoin (BTC) and blockchain technology, Tesla CEO Elon Musk shocked the crypto Twitter on May 12 by announcing that the electric car company would suspend its accepting BTC as a form of payment, citing concerns related to the energy required to mine the top cryptocurrency. As Tesla issued
Remember the “Silicon Valley Tech Bubble”? In the early- to mid-2000s, the San Francisco Bay Area gave birth to some of the most storied and successful technology companies the world has ever seen. Facebook, Google, Salesforce, Twitter, Tesla, Lyft — the list itself could take up half of this article. From the palpable energy to
Centralized exchanges play an important role in the cryptocurrency industry. While their decentralized exchange counterparts have been growing in popularity and usage since 2020, the overwhelming majority of crypto trading volume is still concentrated on centralized exchanges. The supremacy of CEXs can be clearly observed in the size and popularity of trading platforms like Binance
Ether (ETH) eclipsed $4,000 for the first time on May 10, passing the psychologically significant barrier on multiple exchanges including Coinbase. The new milestone comes just a week after breaking $3,000. Last week, ETH overtook Bank of America as the 28th largest asset in the world. But at $454.49 billion as of today, ETH has
According to analysis from on-chain analytics provider Glassnode, the sum of Ethereum on exchanges has fallen to its lowest level for almost two years. Glassnode estimates that just 13.3 million Ether is currently held on centralized exchanges, the lowest it has been since June 2019. As such, centralized platforms hold roughly $52.4 billion worth of
Since the summer of 2020, decentralized exchanges (DEX) have been all the rage and in 2021 developers and investors continue to flock to the sector due to the ease of listing and buying into new projects. While the method has proved fruitful for many projects, the price performance for iExec RLC (RLC), a blockchain-based decentralized
Having emerged with the self-applied moniker of “Dogecoin Killer,” the latest cryptocurrency to succeed on laughs alone is making its way to Binance. Shiba Inu (SHIB) burst into CoinMarketCap’s top 20 rankings just two days ago, likely a response by traders to the hype surrounding Dogecoin (DOGE). Within 48 hours the SHIB token went from
Bitcoin (BTC) is off to yet another fighting start on Monday, hitting $59,500 — is this the week we see $60,000? After a promising but restrained weekend, BTC/USD is once again back to beating out resistance as major markets reopen. Given the strength of underlying technicals and buyer demand, bulls may have cause for celebration
Chia Network (CHIA), which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems. Unlike Bitcoin, Ether (ETH) and others, Chia Network mines coins using an alternative to the energy-intensive Proof-of-Work (PoW). Chia coins are produced using only
Shiba Inu (SHIB) was listed on three different cryptocurrency exchanges in the past 48 hours, after an explosive 966% surge in the same time frame sent the token to 18th in the market cap rankings. Self-described as the “Dogecoin Killer”, Shiba’s instant addition to Binance on May 10 surprised onlookers, many of whom expected a
A lackluster cryptocurrency market did little in offsetting Yearn Finance’s bullish bias as the price of its governance token YFI reached new record highs in USD terms on May 11 — just shy of $70,000. YFI price hits new highs in USD The YFI/USD exchange rate added $6,258, or 10.02%, to reach $68,748 ahead of
Tesla CEO Elon Musk has stirred the proverbial “doges’ nest” once again with another tweet about the quintessential meme coin, Dogecoin (DOGE). Tweeting on Tuesday, Musk ran a Twitter poll asking respondents whether they want Tesla to accept Dogecoin as a payment method. Do you want Tesla to accept Doge? — Elon Musk (@elonmusk) May
Bitcoin (BTC) could see a price drop to as low as $40,000 if higher support levels fail to hold, an industry CEO says. Speaking to Bloomberg on May 11, Pankaj Balani, the CEO of digital asset derivatives exchange Delta Exchange, warned that there is a danger of fresh significant losses for BTC/USD. Balani doubts altcoins’ resilience
Most recently, DOGE pulled off a 10x gain as it rallied to $0.74 in the past week. The breakout was fueled mainly by Tesla CEO Elon Musk and his constant mentions of the token on social networks and interviews. Surprisingly, as Musk debuted on Saturday Night Live on May 8, Dogecoin price corrected by 42%
Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move can make it a challenge for promising new projects that are looking to catch the momentum before the cycle plays itself out. This reality has led to some projects listed
The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%. It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also risen
Bitcoin (BTC) is challenging familiar but significant all-time highs as a new week gets underway, rallying to $58,000 on May 3. After a surprise rally on Friday, the largest cryptocurrency saw a slow comedown through much of the weekend. This turned on its head overnight on Sunday, however, and now BTC/USD is back fighting resistance
Bitcoin (BTC) and other cryptocurrencies have opened the doors to a whole new world of finance. In their most basic form, cryptocurrencies allow people to transact in a fully trustless, transparent and efficient manner, cutting out the centralized intermediaries and counterparty risk previously associated with digital money transfers. Thanks to blockchain technology, value can now
As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion.
Bitcoin and the overall cryptocurrency market saw minor losses on April 29 as the market heads into the expiry of $4.2 billion worth of (BTC) options contracts. Data from Cointelegraph Markets and TradingView shows that since reaching a high above $56,400 on April 28, the price of Bitcoin has dropped more than 6% back down near the
Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space
Crypto data aggregator CoinMetrics has compiled a list of 100 insights into the recent performance of the digital asset markets — and the figures add up to a very bullish picture for the ecosystem. Released to celebrate the 100th issue of its State of the Network report, the list notes that a $100 investment made
The much-hyped NFT sale by popular talk show host Ellen Degeneres has fallen flat, with the comedian selling just five out of ten available Gold editions of her “Woman With Stick Cat” NFT for $2,500 on the Bitski platform. Sixty-four other people paid $100 each for an open Silver edition of the same NFT. The
Decentralized finance (DeFi) has reshaped the face of the cryptocurrency market over the past year, attracting the attention of both institutional investors and retail traders alike as the traditional financial sector continues to warm up to blockchain technology. While the majority of largest DeFi protocols that have a significant amount of volume and value locked
The market capitalization of Tether (USDT), the world’s largest stablecoin, zipped past $50 billion on Monday, in a sign that the cryptocurrency bull market was still heating up. Tether Operations Limited confirmed the milestone on Friday, with roughly 50 billion USDT now reported to be in circulation. Tether’s supply, and hence its market cap, has
With a liquidity mining program set to launch on Monday, Aave could be on the cusp of becoming the dominant decentralized finance (DeFi) ledning protocol. Earlier today, Aave Improvement Proposal (AIP) 16 reached quorum, meaning that starting on Monday, 4/26 liquidity providers and borrowers in Aave’s USDC, DAI, USDT, GUSD, ETH, and WBTC pools will
As Bitcoin price crashed below $50,000, mainstream media highlighted that the selling across the market could have been triggered by reports that the Biden administration proposed increasing the capital gains tax to 39.6% from the current 20% for people earning more than $1 million a year. In other news, there was an apparent exit scam carried
Bitcoin and the wider cryptocurrency market took a beating in the late hours of April 22 and intense selling saw (BTC) price dip below $48,000 in a move that came as a relief to quant analysts like PlanB who were worried that the price growth was showing signs of being inorganic. A variety of factors have been identified
Bitcoin (BTC) revisited recent lows near $52,000 on April 22 as sustained weakness continued for the largest cryptocurrency. Traders await altcoin “magic” Cointelegraph Markets Pro and Tradingview revealed a lackluster day for BTC traders as BTC/USD briefly dipped below $53,000 before stabilizing around $1,000 higher. The move came as Bitcoin was about to lose its market