Markets

It goes without saying that this has been one of the most important and also exciting weeks for Bitcoin, in general. The reason for which it was important is that El Salvador officially became the very first country in the world to formally recognize Bitcoin as a legal tender. In other words, no one is currently allowed to refuse payment in BTC, and that’s the law. The reason for which it was exciting is that it was particularly volatile. On the day El Salvador made the law...

Ethereum Ethereum dropped a sharp 10% this week as the cryptocurrency currently sits at around $3400. The cryptocurrency surged to $3975 last Friday, where it met the resistance at a 1.272 Fib Extension level. It was unable to overcome it over the weekend and eventually collapsed from there on Tuesday during the market wipeout. ETH dropped as low as $3000 during the sell-off but eventually recovered by the end of the day to close the daily candle at $3428 (.382 Fib). It held...

The Foundation behind the popular blockchain project – Algorand – has started a new initiative aiming to enhance the developments in the DeFi sector. Called Viridis DeFi Program, it will be a $300 million fund to support innovation on the Algorand network. In a statement dated September 10th, The Algorand Foundation announced the launch of its latest product called Viridis DeFi Program. In it, the organization has allocated 150 million of the native cryptocurrency – ALGO –...

Bitcoin cash price started a fresh decline from well above $750 against the US Dollar. The price is now trading below the $700 zone and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $665 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair could continue to decline unless it clears the $685 and $695 resistance levels. Bitcoin cash price is struggling to recover above $700 against the...

Cardano, the third-largest cryptocurrency by market capitalization, has been gathering momentum in anticipation of its smart contracts mainnet upgrade. The Cardano team announced in September 2021 that the smart contract functionality was made available on its Alonzo testnet, while its mainnet is expected to be deployed by September 12.. However, the feature has been under criticism by some in the cryptocurrency industry due to a concurrency issue. But there are some, like...

Bitcoin is officially legal tender in El Salvador. The Central American country has been claiming for some time that it was going to declare the world’s number one digital currency by market cap the equivalent of the U.S. dollar and now that step has been taken, but unfortunately, the transition is proving to be somewhat turbulent as the nation’s regulators didn’t foresee all that could occur ahead of time. El Salvador Is Having a Rough Transition Let’s start with the...

With just a few days left until the long-anticipated Cardano network upgrade and hard fork, Binance indicated that it will support the event. This comes as more than 80% of the Cardano pools have successfully upgraded to Alonzo 1.29.0. In a statement from September 9th, the leading digital asset exchange announced its intentions to support the upcoming Cardano network upgrade. The event is expected to take place on September 12th at around 21:45 (UTC) – during epoch 290....

TNC Group, known for their crypto M&A initiatives, and its subsidiary TNC Coin recently announced that the team will burn 80 percent of the coin’s total supply. This means that 800 billion TNC Coins will permanently be removed from the market. The team urged people to stay tuned as they will announce the details such as the burn date very soon. In an official announcement, TNC Coin CEO Jason Jang noted challenges that the team faced amid the pandemic. These include...

When Lambo? Ab 15. September: Kuba will digitale Währungen wie Bitcoin erlauben und fördern. Mit einem neuen Gesetzesentwurf der Ukraine wurde die bisher bestehende Unklarheit über die Legalität virtueller Vermögenswerte in diesem Land aufgelöst. Der ukrainische Gesetzgeber definierte Richtlinien für alle Teilnehmer des Krypto-Markts sowie rechtliche Verpflichtungen, die diesen durch den Umsatz von digitalen Vermögenswerten entstehen...

EOS price started a fresh decline from well above the $5.50 zone against the US Dollar. The price is now trading below $5.00 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $5.80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue lower unless it clears the $5.00 and $5.10 resistance levels. EOS price is gaining pace below $5.00 against the US Dollar, similar...