Bitcoin (BTC) begins another week below $40,000 but with two major new landmarks under its belt. After falling over continued FUD from China over the weekend, Bitcoin adoption has also seen an unexpected first — from El Salvador and Paraguay. With the world potentially about to greet its first two “Bitcoin nations” in history, there’s
Cryptocurrency
Major protocol upgrades can play a significant role in altcoin rallies regardless of the state of the wider cryptocurrency market because new features excite token holders and help to attract new investors. One ecosystem that has been heating up over the past two weeks is the Theta protocol. The project’s THETA token rallied 50% and
United States Treasury Secretary Janet Yellen defended President Joe Biden’s latest massive spending package while speaking to Bloomberg. Yellen said it would be “a plus” for society even if it resulted in a higher interest rate environment. If rates inch higher, traders will explore the best possible options to hedge their portfolios. While gold is
Polkadot (DOT) and Kusama (KSM) creator Gavin Wood has published a tentative schedule for the much anticipated Kusama parachain slot auctions. According to a blog post posted on Tuesday, the first parachain auction slot will open on June 15 at noon Central European Summer Time. The tentative schedule, subject to the approval of the Kusama
Just as the cryptocurrency sector is constantly changing and evolving, the enterprise blockchain industry has been undergoing its fair share of developments lately. Most recently, enterprise blockchain solutions are shifting from private, closed networks to public, open systems. This has largely been made possible due to advances from the Ethereum network, which are ensuring better
For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017. As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest,
What does a highly volatile asset class offer traders, beyond palpitations and the occasional heart attack? Opportunity. Nicole Wirick of Prosperity Wealth Strategies in Michigan summed it up for Forbes: “Market volatility is a normal part of investing and is to be expected in a portfolio. If markets went straight up, then investing would be
The decentralized finance (DeFi) sector faced its first real challenge during last week’s market sell-off that saw more than $1 trillion wiped from the global cryptocurrency market cap as traders feverishly ran for the safety of stablecoins amid tumbling prices. Despite rapidly declining token prices, the nascent DeFi sector held its own as decentralized exchanges
Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on May 26. The latest funding round takes the total sum raised by Reach to $48 million, as the firm aims to produce a javascript-like programming language for
The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for
Ether’s futures premium has gone through a complete cycle, from April’s extreme euphoria to the present level, which is the most bearish in six months. Believe it or not, in both situations, Ether’s (ETH) price was roughly $2,100. This change shows how investors’ mood depends on a few weeks’ performances and holds no relation to
Popular TikTok viral “meme coin” SafeMoon could be vulnerable to malicious exploits by hackers on account of purported security vulnerabilities in its smart contract code. According to a smart contract audit by blockchain security firm HashEx, SafeMoon currently has 12 of such vulnerabilities with five being classified as ranging between being of a “critical” and
Tether (USDT), the world’s largest stablecoin by market capitalization, continues to grow despite record-breaking cryptocurrency outflows triggered by Elon Musk’s Bitcoin (BTC) criticism. On Monday, Tether’s market cap hit $60 billion for the first time in history, marking another milestone of the stablecoin’s growth. According to data from Tether Transparency, USDT market value amounts to
XRP’s price soared 260% in April, moving from $0.57 on March 31 to $1.97 on April 14, its highest level since January 2018. The move caused XRP futures to reach an impressive $2.1 billion in open interest. However, on Wednesday, as cryptocurrency markets collapsed, XRP lost 60% in four days, liquidating $510 million of long
In the midst of the hectic crypto market, the gas fees in the decentralized finance (DeFi) sector have skyrocketed, once again highlighting the value of layer-two scaling solutions. Cointelegraph Consulting teamed up with Covalent to discover the numbers behind Polygon, the network that is onboarding an increasing number of decentralized applications, from SushiSwap to bZx.
Crypto traders were greeted by green markets on May 24 as the majority of altcoins saw their prices bounce back following last week’s downturn that was the “largest deleveraging event since the March 2020 sell-off,” according to an on-chain report from Glassnode. After suffering the biggest monthly price drop in Bitcoin (BTC) history, bulls now
Institutional inflows into Cardano (ADA) investment products rose sharply last week even as interest in Bitcoin (BTC) and Ether (ETH) waned, highlighting the growth of proof-of-stake assets amid the latest wave of environmental FUD in the markets. Institutional investment managers bought $10 million worth of ADA products for the week ending on Monday, according to
The global cryptocurrency market cap lost in excess of $350 billion overnight leading into Wednesday, May 19, as Bitcoin (BTC), Ether (ETH) and a majority of the altcoin market lost between 15–30%. Tuesday night’s plunge leaves the global market cap more than $750 billion worse off than it was this time last week. That figure
Shiba Inu (SHIB) has been the talk of the cryptoverse and mainstream media recently. It is a meme coin themed around the Shibu Inu dog, a Japanese dog breed that Dogecoin (DOGE) is also basing its image on. According to data from CoinMarketCap, SHIB hit its all-time high of $0.0000388 on May 10 after it
Bitcoin (BTC) is nearing $40,000 this week as “Dogefather” Elon Musk deals out pure pain to hodlers — what’s next? After a traumatic weekend for many crypto investors, Monday is setting the stage for the next chapter in the wild 2021 bull market. Cointlegraph takes a look at five factors which could shape what Bitcoin