Notes 5/23: Bitcoin Price and Asian Bull Runs, Ether Deposits

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

Notes 5/22: Bitcoin Price, Tornado Cash’s TORN, and Proof of Reserves in Texas

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

Notes 5/19: Bitcoin Price Is Stagnant, Ether Use Cases Dwindle While its Staking Rewards Multiply

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

Notes 5/15: Bitcoin Price Rebounds, Ethereum Staking Reaches Record Levels, and the Magic of Lido

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

Notes 5/12: Bitcoin Price, Ethereum Staking, and Withdrawing Ether from 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

Notes 5/9: Bittrex Buries the Baby, Bitcoin Price Falls

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

Notes 5/7: Minting Profits from Ethereum’s Problems, Bitcoin Price

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

Notes 5/6: As Bitcoin and Ethereum Transaction Fees Spike, Validator and Miner Profits Multiply

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

Notes 5/4: Bitcoin Price’s Premature Celebration After Fed Meeting

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

Notes 5/3: FOMC and Bitcoin Price, Bitcoin Mining Taxation

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

Notes 5/2: Bitcoin Price in May, Ether’s Fantastic Yields

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

Notes 4/25: Bitcoin Price on Course for $100,000, Institutional Investors Flood Ether Post-Merge

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

Notes 4/7: Low Volatility Bitcoin Price, Tether’s Inflated Market Cap

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