Notes 9/8: Ethereum’s Merge and Democratization, Ethereum’s Trends

One of the benefits being touted about Ethereum’s Merge is that it will “democratize” the blockchain by making it possible for anyone to participate in its network. That claim about the event, which will transition the blockchain from an energy-intensive Proof of Work (PoW) mining to the Proof of Stake (PoS) consensus mechanism, is similar to the one made about Bitcoin when it was first … Continue reading Notes 9/8: Ethereum’s Merge and Democratization, Ethereum’s Trends

What Will September Bring for Bitcoin and Crypto Markets?

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 billion in the same period, based on data from Coinmarketcap. … Continue reading What Will September Bring for Bitcoin and Crypto Markets?

Bitcoin Price And Crypto Markets In Turmoil

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 trading at $23,557.23, a drop of roughly 15% from its … Continue reading Bitcoin Price And Crypto Markets In Turmoil

More Crypto Funds Closed Shop Than Launched In First Quarter: Report

In yet another sign that the party might be coming to an end in crypto markets, more funds devoted exclusively to cryptocurrencies closed in the first quarter of 2022 than were launched in the same period. According to a new report from research firm Crypto Fund Research (CFR), only 11 new crypto funds were launched last quarter while 14 shut down their operations in the … Continue reading More Crypto Funds Closed Shop Than Launched In First Quarter: Report

Can Crypto Handle A Recession?

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 than a month, further deepening distrust of a financial system … Continue reading Can Crypto Handle A Recession?

Stablecoin Terra’s Peg Continues to Unravel

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 from trading lows of 23 cents to the dollar on … Continue reading Stablecoin Terra’s Peg Continues to Unravel

Terra (UST) Peg Crisis Deepens

The crisis in algorithmic stablecoin Terra’s peg with the US dollar deepened on Monday evening before staging an overnight recovery. TerraUSD (UST), the world’s third biggest stablecoin, was trading at $0.62 to the dollar yesterday evening based on prices available at Coinbase. As of this writing, the stablecoin’s price has risen to $0.89. The Luna Foundation Guard (LFG) announced yesterday that it was lending out … Continue reading Terra (UST) Peg Crisis Deepens

Questions Swirl After Algorithmic Stablecoin Terra Loses, Regains Price Peg

Not much news takes place in mainstream markets over the weekend because they are closed. But there is always plenty of action in the 24X7 cryptocurrency markets. The latest drama occurred over the past weekend and concerned the price volatility of algorithmic stablecoin Terra or UST. The stablecoin has been a center of news coverage about decentralized finance (DeFi) and cryptocurrencies in the last couple … Continue reading Questions Swirl After Algorithmic Stablecoin Terra Loses, Regains Price Peg

How Will Fed Rate Hikes Affect Bitcoin Price?

The Federal Reserve’s announcement of a 0.25% increase in interest rates (and a promise of further hikes down the road) is expected to influence future price trajectories of assets. How do the rate hikes affect Bitcoin price? Immediately after the hikes were announced, Bitcoin price jumped by 4% overnight. Ethereum’s ether, the second-biggest cryptocurrency by market capitalization, registered an even steeper 7% increase. Cryptocurrency markets … Continue reading How Will Fed Rate Hikes Affect Bitcoin Price?

Bitcoin Ownership is Still Concentrated and 90% of Transactions On Its Blockchain Do Not Have Economic Value: Study

About 90% of transaction volume on Bitcoin’s blockchain does not have much economic value and the cryptocurrency’s ownership is concentrated among relatively few investors. These are the results of a new study published by researchers from the Massachusetts Institute of Technology (MIT) and the London School of Economics (LSE). According to the authors, 90% of transaction volume on the Bitcoin blockchain is not tied to … Continue reading Bitcoin Ownership is Still Concentrated and 90% of Transactions On Its Blockchain Do Not Have Economic Value: Study

The Fallacies of Using Developer Activity to Value Cryptocurrencies

Can you value a company’s stock based on its employee count? In conventional valuation theory, such a metric might be heresy. But the idea is taking holding within the cryptoasset ecosystem. The haphazard and volatile price swings of cryptoassets has left most analysts and commentators scratching their heads to come up with suitable metrics to value them or predict their price movement. Developer activity is … Continue reading The Fallacies of Using Developer Activity to Value Cryptocurrencies

The Fake Volume Problem At Crypto Exchanges

Fake volumes at exchanges has proved to be a persistent problem within the cryptocurrency ecosystem. Along with skyrocketing prices, fledgling crypto exchanges have routinely displayed trading volumes for assets that run into millions and billions of dollars. Despite the incessant crypto drumbeat of mainstream media, it is still difficult to believe that a nascent asset class has attracted investors willing to bet their life savings … Continue reading The Fake Volume Problem At Crypto Exchanges

August Started with Promise For Bitcoin Price But Failed to Deliver For Crypto Investors

Caught in the middle of rising tensions between two of the world’s biggest countries and reports of economic turmoil, stock markets tumbled. So did Bitcoin and crypto markets. August promised much, when it started off with a surge for crypto investors. But it delivered little – markets soon shed their gains and resumed a mostly flat trajectory. Bitcoin, which was trading in the $10,000 range, … Continue reading August Started with Promise For Bitcoin Price But Failed to Deliver For Crypto Investors

Coinbase May List More Eight More Cryptos

Coinbase may be adding to its token count. In a blogpost published yesterday, the San Francisco-based exchange revealed that it was considering adding up to eight new coins – Cosmos, Algorand, Decred, Dash, Harmony, Matic, Waves, and Otology – to the collection of coins it offers to traders. The final decision to support these currencies, however, is subject to the exchange’s digital asset framework, which … Continue reading Coinbase May List More Eight More Cryptos

Litecoin Halved Its Market Supply This Morning

The world’s fourth-most valuable cryptocurrency reduced its market supply this morning. Litecoin, which positions itself as a cryptocurrency for daily use, halved its block rewards for miners from 25 litecoins to 12.5 litecoins. Litecoin is expected to have a total market supply of 84 million coins, four times that of Bitcoin. As of this writing, 63 million coins have already been mined. The reduction in … Continue reading Litecoin Halved Its Market Supply This Morning

Bitcoin Price Volatility Returns, Crashes $1,900 in Less Than Three Hours

When bitcoin price cratered in 2018, analysts and commentators opined that its price swings might become a thing of the past with more money flowing into the asset class. As it turns out, they were wrong. The entry of institutional investors and technological developments, such as the Lightning Network, have not done much to dampen volatility in the asset class. Bitcoin price recorded its steepest … Continue reading Bitcoin Price Volatility Returns, Crashes $1,900 in Less Than Three Hours

Bitcoin Price Soars Past $13,000

Bitcoin price continued its rapid gains last night, gaining 14% in its price and moving past the $13k mark this morning on all exchanges and data services tracking its price. As of this writing, it is trading at $13,244.39 on Coindesk’s index, up 16.16% from its price 24 hours ago. In the last one week, bitcoin’s price has surged by more than 40% on the … Continue reading Bitcoin Price Soars Past $13,000

Bitcoin Price Crosses $10,000 Mark

Is bitcoin price reverting back to its old ways? Within a span of 24 hours, the cryptocurrency breezed past the $10,000 mark on Saturday and briefly meandered beyond $11,000, before settling back into the $10,000 range. As of this writing, it was trading at $10,729.87, roughly unchanged from its price 24 hours ago. A day earlier, Bitcoin was changing hands at $9,859.61. Such schizophrenic price … Continue reading Bitcoin Price Crosses $10,000 Mark

Bitcoin Price Breaks Past $9,000 Mark In Anticipation of Facebook Announcement

In its attempt to regain past glory, Bitcoin price breached another major milestone and crossed the $9,000 mark over the weekend. The original cryptocurrency first struck past the mark yesterday evening. It retraced its steps for a brief period of time two hours later before striking out again past $9,000. As of this writing, Bitcoin is changing hands at $9,285.84 per Coindesk. Yesterday’s increase means … Continue reading Bitcoin Price Breaks Past $9,000 Mark In Anticipation of Facebook Announcement

Litecoin price shoots up

With a price increase of 45%, Litecoin has been among the biggest winners in the cryptocurrency markets price rally within the last month. But that rally may not be over yet. The cryptocurrency, which was started as an alternative to Bitcoin, has been on a bull run this year, jumping by 323 percent since January this year. There are no fundamental factors driving the increase … Continue reading Litecoin price shoots up

Crypto Options Traders Target $50,000 Bitcoin Price For Next Year

Will bitcoin price cross $50,000 in the next year? Some bullish investors seem to think so and have purchased options to back up their claim. According to a WSJ report, an unidentified investor has bought 30 options worth approximately $4,500 expiring in June 2020. The options have a strike price of $50,000. In simple words, this means that the investor is betting that the price … Continue reading Crypto Options Traders Target $50,000 Bitcoin Price For Next Year