The price of Bitcoin and Ethereum spiked on Sunday and pushed through recent price resistance as the entire crypto market pumped higher. Luna Foundation’s official Bitcoin wallet address currently holds over $1.1 billion, and Kwon plans to accumulate up to $10 billion worth of BTC. …Read the full story
Bitcoin is down nearly 8% over that span, per data from CoinMarketCap, after experiencing the largest single-day drop for the leading cryptocurrency in almost a month—since January 21. Edward Moya, OANDA senior market analyst for the Americas, wrote in emailed comments that the threat of a Russian invasion of Ukraine has spurred Wall Street to […]
Currently, 12.9% of the circulating Bitcoin supply, or roughly $163 billion, is sitting on exchanges, according to the report. Generally speaking, Glassnode writes in its analysis, if investors were keeping more of their Bitcoin on exchanges it’d be a sign they thought it was overpriced and wanted to be ready to sell. In other words, […]
This pushed the price of Bitcoin up following a trading frenzy. But today it’s back up again—although still 5% shy of its all-time high—and continuing to climb. Treasury secretary Janet Yellen yesterday said that there would be high inflation in the first half of 2022. Meanwhile, Dogecoin, a so-called meme coin that traders typically price […]
Today, Crypto Twitter influencers and media began circulating rumors that China was regretting its crackdown on crypto after Bitcoin surged to new all-time-highs in the past week. The rumor likely came into being for two reasons. The commission first floated virtual currency mining for the list in 2019, but after soliciting opinion, the industry was […]
After a fast-paced rise from just above $4,000 as the coronavirus pandemic began last March to $63,000 last month, it has cooled down to a balmy $54,600. Because Bitcoin is capped at 21 million, it is theoretically a hedge against inflation—a safe-harbor asset that shouldn’t lose value over time. However, as a relatively new asset […]
He called on the Bitcoin network to move from energy guzzling proof-of-work . And in a plug for his own network, Larsen noted that the annual energy use of Ripple’s XRP network is akin to that of 50 American homes—versus 12 million homes for Bitcoin. Nor does Larsen buy the argument of companies like Square […]
The mine’s shutdown coincided with a significant drop in Bitcoin’s hash rate—the measuring unit of the Bitcoin network’s processing power. “China’s current obsession with coal plants—despite greenhouse emission promises—means that certain miners can take advantage of cheap “dirty” power in some regions,” Jason Deane, Bitcoin analyst at Quantum Economics, told Decrypt. A study published by […]