Algorithmic stablecoin Tether lost its peg briefly amid trader selloffs of USDT at Curve Finance, a liquidity pool that operates in decentralized finance (DeFi) markets, this morning. According to Coinmarketcap, a site owned by Binance – an exchange where Tether records its biggest volumes, the stablecoin was trading as low as $0.9968. While its peg… Read More Notes 6/15: Tether Loses Peg, Bitcoin and Tether Dominance
Bitcoin price pushed past the $26k mark this morning, peaking at $26,353 before retrenching its gains. As of this writing, the cryptocurrency is changing hands for $25,883.04, relatively unchanged from yesterday. For the past week, bitcoin price has traded in a narrow range between $25,000 and $26,000 as the Securities and Exchange Commission (SEC) mounted… Read More Notes 6/13: Bitcoin Price Jumps and XRP Price Bounces
After the one-two punch thrown by the Securities and Exchange Commission (SEC) earlier this week, bitcoin price should have been boxed into a cul-de-sac of declining prices. But that is hardly the case. As of this writing, it is changing hands at $26,589, up 2.3% from its price a day earlier. That figure represents minimal… Read More Notes 6/7: Bitcoin Price, Tether’s Holy Grail
The end times are nearing for cryptocurrencies. The Securities and Exchange Commission (SEC) filed a case against Binance.com, the crypto world’s biggest exchange by trading volume, this morning. In response, crypto markets crashed. The magnitude of Binance’s operations became immediately evident. Bitcoin price, which had stayed above $27,000 over the weekend, fell below $26,000 after… Read More Notes 6/5: Bitcoin Price Crashes after SEC Filing Against Binance, Ethereum Staking
Down and down goes bitcoin price. A resolution of the debt ceiling drama should have boosted the cryptocurrency’s price. But last weekend’s round of profit taking for investors turned out to be a brief respite. As of this writing, the cryptocurrency is changing hands for $26,881.68, unchanged from a day earlier. While the price is… Read More Notes 6/1: Bitcoin Price, LDO Liquidity
Bitcoin price cannot seem to make up its mind. It jumped past $28,000 over the weekend after the announcement of a debt ceiling deal between Democrats and Republicans. But it has shed those gains since. As of this writing, the cryptocurrency is changing hands for $27,112, down 2.4% in the last 24 hours. The Debt… Read More Notes 5/31: Bitcoin Price
Bitcoin price moved slightly higher on news that Hong Kong’s Securities and Futures Commission (SFC) will begin accepting applications from exchanges to offer cryptocurrency trading to retail investors from June 1 onwards. As of this writing, the cryptocurrency is changing hands at $27,299.15, up 1.2% from its price yesterday. An Asian Bull Run? According to… Read More Notes 5/23: Bitcoin Price and Asian Bull Runs, Ether Deposits
Bitcoin price remained stagnant over the weekend and continues to trade sideways in the $26,000 range. As of this writing, it is at $26,904.77, roughly unchanged from its price a day earlier. A Tight Range The days of frothy trading in the cryptocurrency’s ecosystem, when its price regularly notched up double-digit gains and set records,… Read More Notes 5/22: Bitcoin Price, Tornado Cash’s TORN, and Proof of Reserves in Texas
Bitcoin price rallied past the $27,000 mark yesterday morning but is back in the $26,000 range today. As of this writing, the cryptocurrency is changing hands at $26,923, down 1.2% from a day earlier. Amid regulatory crackdowns and investor defections in the United States, there is a sliver of positive news from Asia. CoinDesk reports… Read More Notes 5/19: Bitcoin Price Is Stagnant, Ether Use Cases Dwindle While its Staking Rewards Multiply
Bitcoin price is rebounding after last week’s lows. The cryptocurrency fell below $26,000 over the weekend but has recovered sharply. As of this writing, it is changing hands at $27,428.55, up 1.2% from a day earlier. The cryptocurrency’s price action has defied rational explanations in the past and this time is no exception. Choose Your… Read More Notes 5/15: Bitcoin Price Rebounds, Ethereum Staking Reaches Record Levels, and the Magic of Lido
Bitcoin price rose yesterday after the release of positive consumer price inflation (CPI) data and sparked hopes that it was making another bid for the $30,000 mark. But the slight increase in its price turned out to be false narrative. A familiar one of declining prices took over shortly afterwards. As of this writing, the… Read More Notes 5/12: Bitcoin Price, Ethereum Staking, and Withdrawing Ether from Lido
Crypto exchange Bittrex has decided to “bury the baby” after being charged by the Securities and Exchange Commission (SEC) last month for breaking securities rules even as it minted $1.3 billion in profit. The Seattle exchange filed for bankruptcy yesterday in Delaware. It listed 100,000 creditors and liabilities of between $500 million to $1 billion.… Read More Notes 5/9: Bittrex Buries the Baby, Bitcoin Price Falls
The crisis of congestion in bitcoin’s network shows no signs of abating. The average fee to conduct bitcoin transactions reached $19.20 yesterday. While those fees are funding miner profits, bitcoin traders are left holding the bag. As of this writing, the cryptocurrency’s price is $27,962, down almost 4% in the last 24 hours. It has… Read More Notes 5/8: Bitcoin’s Evolution
The average price to commit a transaction on Ethereum shot up amid hysteria for a meme coin last week. It remains high, as of this writing. According to data from online publication The Block, the average transaction price on the world’s second biggest blockchain is $15.63, up from $9.52 a week earlier. The total number… Read More Notes 5/7: Minting Profits from Ethereum’s Problems, Bitcoin Price
In the chill of depressed prices and volatility for cryptocurrency tokens, transaction fees for at the world’s two biggest blockchains, Bitcoin and Ethereum, are red hot. Average fees on bitcoin’s blockchain climbed to $7.25 last week per transaction on the back of frenzied demand for Ordinals – bitcoin’s version of non-fungible tokens (NFTs). A similar… Read More Notes 5/6: As Bitcoin and Ethereum Transaction Fees Spike, Validator and Miner Profits Multiply
The Federal Open Markets Committee (FOMC) decided to hike interest rates by another 25 basis points yesterday, bumping up its lending rate to between 5 and 5.25 basis points. In his press conference discussing the move, Fed Chairman Jerome Powell did not provide concrete future guidance. Which is to say, he held off on committed… Read More Notes 5/4: Bitcoin Price’s Premature Celebration After Fed Meeting
The Federal Reserve will have many things to consider when it concludes deliberations at the latest Federal Open Markets Committee (FOMC) meeting. That list includes the latest round of bank failures, inflation and unemployment data, and the economy’s overall health. Suffice to say, bitcoin price will not be a part of that list. While the… Read More Notes 5/3: FOMC and Bitcoin Price, Bitcoin Mining Taxation
In traditional finance markets, May is typically a month to sell and go away. Translated, this means that traders exit markets and prices drop. Before its trading volumes metastasized, crypto was an uncorrelated asset. It bucked conventional trading wisdom and rose in May for some years and fell in line during the others. With their… Read More Notes 5/2: Bitcoin Price in May, Ether’s Fantastic Yields
Bitcoin price remains poised before the $30,000 mark, a key resistance level according to analysts, over the weekend. As of this writing, the cryptocurrency is changing hands for $29,624.72, up by 1.5% from its price a day earlier. In the past week, it has rallied by 6.3% based on data from CoinGecko. Explanations for the… Read More Notes 4/30: Bitcoin Price, USDC Peg
Bitcoin price briefly flirted with the $30,000 mark – a barrier it has attempted to cross in the past and failed – and retrenched its gains in less than an hour. The cryptocurrency crashed by 7% in that period because cryptocurrencies in anonymous wallets were moved, feeding into speculation about an impending sale. As of… Read More Notes 4/27: Bitcoin Price
Bitcoin prices are headed to $100,000 next year, according to Standard Chartered Bank. According to the firm’s analyst Geoff Kendrick, the recent collapse of banking institutions like Silicon Valley Bank has solidified the case for bitcoin as a “decentralized, trustless, and scarce digital asset.” He predicted that the cryptocurrency will reach $100,000 by the end… Read More Notes 4/25: Bitcoin Price on Course for $100,000, Institutional Investors Flood Ether Post-Merge