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Bitcoin’s price took a nosedive on Thursday after stocks retraced gains made following yesterday’s Federal Open Markets Committee Meeting (FOMC). It fell to $36,520 – the cryptocurrency’s lowest price since Russia invaded Ukraine.  At FOMC on Wednesday, Federal Reserve Chairman Jerome Powell announced the first 0.5% interest rate hike since May of 2000. He set future expectations for further 50 basis point hikes later this year.  However, he also claimed that 75 basis point...

The highly-anticipated virtual land sale related to Yuga Labs’ metaverse project went live hours ago and affected a large portion of the entire crypto market. The massive demand led to ETH fees worth nearly $200 million, while ApeCoin’s price slumped by double digits after the sale. Ever since Yuga Labs, the creators of popular NFT projects such as Bored Ape Yacht Club, announced the metaverse project Otherside, the anticipation for the actual sale was soaring. This led to a...

Bitcoin continues to gradually lose value and dropped to a near two-month low of just over $37,000. The altcoins are also deep in the red, with notable price losses from Solana, Cardano, Terra, Polkadot, and many others. Bitcoin Sees 2-Month Low It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago, as BTC neared $41,000 roughly a week ago but was rejected in its tracks. The subsequent correction drove the asset south...

Bitcoin failed again at overcoming $40,000 and has returned to even below $39,000. The majority of the altcoins are also in the red once more, but ApeCoin continues to defy the odds ahead of its highly-anticipated Otherside sale. Bitcoin Struggles Below $40K On April 25, bitcoin initiated an impressive leg up, adding nearly $3,000 in hours. Consequently, the asset spiked to almost $41,000 after its recent nosedives. However, this price increase was short-lived as the bears...

The past seven days haven’t been particularly favorable for the cryptocurrency in terms of price action. Bitcoin dropped below $40K and is currently unable to reclaim the important psychological level, while many altcoins followed a similar, if not tougher, path. This time last week, BTC was trading at around $42,000, but this didn’t last long. The cryptocurrency began declining last Friday, and by Saturday, it was already trading below $40K. The beginning of the workweek...

The Central African Republic (CAR) has officially become the world’s second country to adopt Bitcoin as legal tender, announced the President’s office on Wednesday. As with El Salvador, the International Monetary Fund (IMF) has heavily criticized the decision. Another Nation Onboards the Bitcoin Standard The news was confirmed by French news agency AFP, following uncertain rumors about legal tender adoption from a standout Forbes report on Saturday. The initial report...

Ethereum’s layer-two scaling solution Optimism introduced its new governance token OP for the Token House – one of the two hubs constituting the protocol’s new governance system, Optimism Collective. Early users of the network will be granted the opportunity to receive OP airdrops in Q2, 2022, which accounts for 5% of the asset’s total supply. Optimism’s New Governance Body According to the official blog post, the Collective’s bicameral governance system “aims to avoid...

After dropping below $40,000 earlier this weekend, bitcoin has been unable to reclaim that level despite a few attempts. The rest of the market is also relatively calm today, with ETH sitting beneath $3,000. Bitcoin Stalls Below $40K After the Monday crash, bitcoin went on the offensive and added several thousand dollars in about a few days. As a result, it broke above the January 2021 all-time high of $42,000 and kept climbing. This culminated in a price increase towards...

The adverse price developments continued in the past 24 hours, and bitcoin dropped below $40,000 for the second time this week. The alternative coins are also well in the red, at least most of them, but ApeCoin has defied the market sentiment and soared by double-digits. Bitcoin Lost $40K It was just a few days ago when the primary cryptocurrency spiked to almost $43,000, which became its highest price level in over ten days. This was a particularly impressive price tag...

This week saw the cryptocurrency market go through some serious turbulence, as the prices for the largest coins by means of total capitalization went on a rollercoaster. The tumultuous market dynamics ultimately resulted in a slight gain of about $15 billion added to the cap. Leading the market was, of course, Bitcoin. The price was sitting at around $40K this time last week, and it remained there for a few days. On April 18th, we saw BTC crashing below $39K to a monthly low,...