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
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
After mostly vegetating in the $16,000 to $17,000 range for the last month, bitcoin price sprang to life yesterday and today. Yesterday’s announcement of lower-than-expected reading of inflation figures was said to have boosted the cryptocurrency’s price. The positive sentiment seems to have carried over today and bitcoin broke past the $18,000 barrier for the… Read More Notes 12/14: Tether Bumps Up Bitcoin Price, Tether Shorts, and SBF Drama
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… Read More Notes 9/8: Ethereum’s Merge and Democratization, Ethereum’s Trends
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?
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
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… Read More More Crypto Funds Closed Shop Than Launched In First Quarter: Report
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
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… Read More Terra (UST) Peg Crisis Deepens
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… Read More Questions Swirl After Algorithmic Stablecoin Terra Loses, Regains Price Peg
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… Read More How Will Fed Rate Hikes Affect Bitcoin Price?
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… Read More Bitcoin Ownership is Still Concentrated and 90% of Transactions On Its Blockchain Do Not Have Economic Value: Study