Markets

After a few days of consolidation around $46,000, bitcoin has headed south and dropped beneath $45,000. Most altcoins have retraced in a similar fashion, with a few exceptions. LUNA is among those as it pumped by double-digits to tap a new ATH above $40. Bitcoin Slides Below $45K The primary cryptocurrency had a rough week. As it was preparing to become a legal tender in El Salvador, its price went to a multi-month high at just over $53,000. However, shortly after it became...

Robert Kiyosaki – the author of the bestselling book “Rich Dad, Poor Dad” – has said in a recent tweet that he is hoarding bitcoin, gold, and silver in anticipation of a major market crash that he predicts could come as early as the end of the year. Robert Kiyosaki On Why He’s Hoarding BTC Kiyosaki has established himself as a major financial guru over the past few years given his growing list of books which began with the “Rich Dad, Poor Dad” franchise. The first book...

Switzerland’s stock exchange, SIX, said today it had obtained two licenses from the nation’s markets regulator to launch a stock exchange and depository for blockchain-based securities. Based in Zurich, Switzerland, the SIX Swiss Exchange is the country’s principal stock exchange that also trades particular securities like government bonds and derivatives such as stock options. According to a CNBC report, the organization has received two licenses from the nation’s regulator...

Leading cryptocurrency exchange BinanceUS has recently appointed one of Uber’s former top players – Brian Shroder– as president of the company and as a board member. This comes following numerous hints from Changpeng Zhao that the US branch of the leading crypto exchange could become the latest publicly traded company from the digital asset space. Why Binance Picked Shroder? As announced by BusinessWire, Shroder will be overseeing the exchange’s corporate development,...

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...