Ether prices should be pumping this week in anticipation of the Shapella upgrade occurring on April 12. The upgrade, which makes it possible for investors to unstake their tokens, is supposed to catalyze prices by enabling investors to sell their ether or stake it, once again, on the cryptocurrency’s network. But the expected price bump… Read More Notes 4/10: Ether Capital
Stablecoin USDC lived to see another day after the collapse of Silicon Valley Bank last month. But traders are still not sold on the Circle coin. According to statistics from DefiLlama, an analytics site that tracks decentralized finance (DeFi) markets, the number of liquidation positions against USDC stands at $259 million. USDC is a vital… Read More Notes 4/9: USDC Liquidations
Just how illiquid is crypto? The latest quarterly report from Kaiko Research sheds some light on the answer. TrueUSD pair had just 2 BTC worth of liquidity in early March. That compared with 400 BTC worth of liquidity for Binance’s stablecoin BUSD and between 1,000 to 1,500 for Tether’s USDT, the world’s biggest stablecoin that… Read More Notes 4/8: TUSD Illiquidity, Banning Crypto
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
Will Coinbase become the next crypto entity targeted by regulators? The exchange was already served a Wells Notice by the Securities and Exchange Commission (SEC) last month. Now, after the agency slapped charges against cryptocurrency exchange Beaxy, speculation is rife that Coinbase might be next in line. Beaxy was a little-known operation based in Illinois.… Read More Is the Beaxy Case A Blueprint for Action Against Coinbase?
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
Stablecoin TrueUSD (TUSD) claims that it generates a real time attestation report for its reserves on its website. That’s an impressive achievement. But TUSD is an unregulated stablecoin in the United States. That means the checks and balances that are standard for regulated entities here are absent for the stablecoin. The report, which is a… Read More Notes 4/4: TUSD Attestation Reports
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
This past quarter will go down as one of the most eventful in bitcoin’s short history. In the last decade, despite criticisms and regulatory threats, bitcoin price and those of the larger crypto ecosystem coasted – even thrived – thanks to low interest rates and public curiosity. The tides turned last year and continued to… Read More Notes 4/1: Bitcoin Price
Are CBDCs necessary in the United States? … Read More To CBDC or Not To CBDC?
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
Bitcoin price continued its gravity-defying trajectory today, rising by 5.2% in the last 24 hours, to $28,457.20, as of this writing. According to CoinDesk data, the cryptocurrency is up by 72% so far this year. This past quarter marked its biggest quarterly gain in the last two years, the publication noted. Bitcoin’s latest price trajectory… Read More Notes 3/29: Bitcoin Price and TUSD
What does the CFTC’s case against Binance mean for crypto’s future? Binance is the world’s biggest cryptocurrency exchange by trading volume. It is also home to the biggest trading volumes for bitcoin and ether, the world’s two biggest cryptocurrencies. But the announcement of a lawsuit against the company by the CFTC yesterday hardly dented bitcoin… Read More Notes 3/28: CFTC Lawsuit Against Binance, Staking Withdrawals, and Tron and Tether
There is no rest for the wicked. Or, for businesses operating in cryptocurrencies. An onslaught of the fledgling sector by regulators, which began earlier this year, reached a sort of apogee this morning with the Commodities Futures Trading Commission (CFTC) charging Binance, the world’s biggest trading platform by volume for cryptocurrencies. The agency stated… Read More Notes 3/27: CFTC Sues Binance
Bitcoin price is holding steady after another tumultuous week. The cryptocurrency is changing hands at $27,862.57, relatively unchanged from its price a day earlier. On a weekly basis, bitcoin price is up by 1.5%, according to data from CoinGecko. The price rise is impressive in a week that witnessed another quarter percentage point hike in… Read More Notes 3/25: Bitcoin Price, Circle Redemptions
Coinbase has major beef with the Securities and Exchange Commission (SEC). After the company was served with a Wells Notice by the agency for selling unregistered securities, its chief legal officer Paul Grewal took to social media and wrote posts to air grievances. On his company’s website, Grewal wrote that his exchange – the biggest… Read More Notes 3/24: Coinbase
The Securities and Exchange Commission’s regulatory wrecking ball is swinging again. This time it is aimed at cryptocurrency exchange Coinbase and the Tron platform and its companies. The agency took aim at Justin Sun, the colorful founder of Tron, and charged three of his companies – Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc.,… Read More Notes 3/23: Staking As A Security Offering, Bitcoin Price
If there was any doubt about the Biden administration’s thinking on cryptocurrencies, then yesterday’s economic report should clear all confusion. The report is damning in its assessment of the crypto ecosystem. “Cryptoassets to date do not appear to offer investments with any fundamental value nor do they act as an effective alternative to fiat money,… Read More Notes 3/22: Biden’s Economic Report, ETHW, and Lost Ethereum
In a volatile and unpredictable cryptocurrency ecosystem, hacks at decentralized finance (DeFi) are one of the few constants. The latest one occurred at lending platform Euler Finance last week. Crypto tokens worth $197 million were stolen during the hack. According to reports, the hacker stole four coins: DAI stablecoin worth $8.7 million, $18.5 million worth… Read More Tornado Cash Becomes a Conduit for Hackers Again
Bitcoin price continued to rally this morning and is changing hands at $28,229, up roughly 1% from its price a day earlier. In a week, its price has jumped by 17%. Trading volumes at cryptocurrency exchanges have skyrocketed to $51 billion, their highest level in four months, according to data from Kaiko Research. The increase… Read More Notes 3/21: Bitcoin Price
Bitcoin price continues to make news. According to data from CoinGecko, it hit a high of $28,500.16 this morning. As of this writing, it is trading at $28,161.81, up 2.5% from its price a day earlier. In the last one week, amid a series of banking crises, bitcoin’s market capitalization has swollen from $457 billion… Read More Notes 3/20: Bitcoin Price