It was a time for profit-making in crypto markets yesterday and this morning. Bitcoin price surged past the $31,000 mark after a New York court judge ruled that programmatic sales of Ripple’s native token XRP at cryptocurrency exchanges were not securities. It crested at $31,700 before retreating. The price of Ripple’s XRP skyrocketed by 96%… Read More Notes 7/14: Bitcoin Price, XRP Ruling
One of the few success stories of the debilitating crypto winter this year has been a surge in prices and valuations of tokens for staking platforms. Even as prices for top cryptocurrencies crashed, those for staking platforms have zipped higher on the back of enthusiasm for Ethereum’s Shapella upgrade. The upgrade, which enables investors to… Read More The Future of Liquid Staking Derivative (LSD) Tokens
The first batch of profit-taking from Ethereum’s native token ether’s staking program has ended. Prices for the second largest cryptocurrency by market capitalization rose, briefly pushing past the $2100 mark, after Ethereum’s Shapella upgrade. The upgrade, which enabled withdrawals of staked ether, is the final step in the blockchain’s move to a Proof of Stake… Read More Notes 4/23: Ether Prices and Rewards
Prices for tokens of Liquid Staking Derivatives (LSD) platforms have soared in the week after Ethereum’s Shapella upgrade. LSD platforms simplify the staking process and ensure liquidity for staked ether, even after it is locked in a smart contract. For their services, staking platforms have accumulated some of the biggest holdings of staked ether. An… Read More Notes 4/18: LSD Tokens, BNB Burns
The prices for bitcoin and ether surpassed new thresholds last week on the back of positive economic data and a successful network transition respectively. At the beginning of a new week, they are giving up some of those gains. Bitcoin price crossed the $30,000 mark, almost touching $31,000, on Friday. As of this writing, it… Read More Notes 4/17: Bitcoin and Ether Prices
The rally in ether prices is tapering off. This morning, they jumped above the $2,100 mark but lost steam soon after. Ether is currently changing hands at $2,059, according to data from CoinGecko. It is still up by an impressive 3% from prices a day earlier and 10% from a week ago. The propulsive momentum… Read More Notes 4/14: Ether Prices and Staking [Updated]
Bitcoin price made short work of touching $30,000, sweeping past the mark in less than 24 hours from yesterday. As of this writing, it is changing hands at $30,237, up more than 6.2% from its price a day earlier. Traders are predicting a further increase into the mid-to-high 30’s for the cryptocurrency. Per usual, it… Read More Notes 4/11: Bitcoin and Ether Prices
Labor department data released this morning indicated a slowdown in hiring markets, proof that the Federal Reserve’s interest rate hike regime is showing results. That should have been good news for cryptocurrency prices because it multiplied the odds that the agency might hold off on another quarter percentage increase at its next meeting and soothe… Read More Notes 4/7: Low Volatility Bitcoin Price, Tether’s Inflated Market Cap
With respite from regulators, the crypto news cycle’s attention has shifted to price. Except for a foray to $27,629 this past Monday, bitcoin price has dawdled in the $28,000 range for most of last week. Analysts say a key resistance level for the cryptocurrency is $30,000. A Difficult Transition But current conditions are difficult for… Read More Notes 4/5: Bitcoin and Ether Prices
The team at Kaiko research is out with some curious data that contradicts recent news about crypto liquidity. Trading volumes reached a four-month high for the overall cryptocurrency ecosystem in March even as major exchanges witnessed a steep decline in their market share, the research firm wrote in a post. Binance, the world’s biggest cryptocurrency… Read More Notes 4/3: Crypto Exchange Volumes
Ripple’s XRP has had a roller coaster ride in crypto markets. At the beginning of 2018, it was the crypto world’s third most valuable digital asset. Growing adoption of Ripple’s cross border payments platform, in which XRP is used as a bridge currency between two fiat currencies, was cited as a reason for investor enthusiasm… Read More Note 3/30: XRP Spike
In July last year, I wrote about investor enthusiasm for Ethereum’s move to a Proof of Stake (PoS) consensus system. Traders piled into ether, the blockchain’s native token, in hopes of a big payoff close to the actual event. [There were profits, but they were taken much before the actual event]. Amidst the chilly crypto… Read More What Happens to Ether Prices After The Merge?
USDC, the crypto world’s second biggest stablecoin, has lost its peg due to exposure to Silicon Valley Bank (SVB), the bank that liquidated yesterday. The stablecoin’s peg with Tether’s USDT, another dollar-backed stablecoin, fell to as low as 0.86 at cryptocurrency exchange Kraken before recovering. As of this writing, it is still askew at $0.92.… Read More Notes 3/11: Circle’s USDC Loses Peg
In their crackdown on cryptocurrencies, regulators may have found their biggest target yet. The New York Attorney General’s (NYAG) office today filed a case against cryptocurrency exchange KuCoin for an unregistered offering of securities. In its filing, the agency alleged that Ethereum’s ether, the world’s second biggest cryptocurrency by market capitalization, is a security. Just… Read More Notes 3/9: Ethereum As A Security
For Bitcoin and the larger crypto ecosystem, this summer wasn’t a particularly warm one. In fact, a series of bankruptcies and scandals by major players crashed the ecosystem and prices plummeted. Bitcoin price has fallen by roughly 13% from the start of August and the overall market cap for cryptocurrencies declined by 8.1% to $992… Read More What Will September Bring for Bitcoin and Crypto Markets?
The dreaded W word is re-entering the crypto lexicon. Chatter about a crypto winter is on the cards once again after the asset class’s spectacular pandemic run. The irony of crypto becoming one of the first casualties of an impending recession is rich because its enthusiasts have spent years positioning it as a hedge against… Read More Bitcoin Price Continues Crumbling As Celsius Contagion Spreads
And they all come tumbling down. The congratulations and celebrations from crypto’s biggest and latest shindig had barely died down and its markets took a turn for the worst Monday morning. Bitcoin price, which has been on a steady decline since last November, crashed below $25,000 this morning. As of this writing, it is… Read More Bitcoin Price And Crypto Markets In Turmoil
After climbing to dizzy heights last year, markets are hemorrhaging value as prices plummet since the beginning of this year. Expensive assets that were worth millions of dollars as recently as last year have crashed from their earlier valuations. One of the world’s biggest financial instruments careened to a sudden and spectacular crash in less… Read More Can Crypto Handle A Recession?
The unraveling of stablecoin TerraUSD’s (UST) peg to the US dollar continues unabated. As of this writing, it is trading at $0.40, down 23.7% from its price 24 hours ago, according to data from Coinbase. That figure is a far way off from its $1 peg to the US dollar but still represents an improvement… Read More Stablecoin UST’s Peg Continues to Unravel
A successful algorithmic stablecoin is the Internet equivalent of a freestanding dollar, a currency cut off from its peg to the gold standard. Recent advances in technology and cryptography make the idea sound deceptively simple. Practical implementation, however, remains elusive. Many attempts at creating algorithmic stablecoins have failed in the past. TerraUSD (UST) is the… Read More Terra And The Freestanding Algorithmic Stablecoin
Will TerraUSD (UST) become the latest stablecoin to fail? That might be the most important question on the minds of investors in the stablecoin. Terra’s price, which was inching upwards towards its 1:1 peg with the US dollar yesterday, crashed to 26 cents Wednesday morning. Traders also sold off their holdings of Luna – the… Read More Terra Continues Free Fall, Repegging In The Works