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The past seven days saw the successful transition of Ethereum’s network from a Proof-of-Work consensus algorithm to one governed by Proof-of-Stake. The event was described by many as one of the most significant technical achievements in the industry and is put on par by importance with Bitcoin’s halving. However, the total market declined by some $20 billion over the same period as many cryptocurrencies are charting decreases. Bitcoin is among the outliers in terms of price...

The Consumer Price Index numbers for August are in, and, as always, this caused major volatility within the cryptocurrency markets. At the time of this writing, Ethereum, as well as Bitcoin, are charting initial declines. The US Bureau of Labor Statistics just updated the numbers for the Consumer Price Index for August and they are slightly above expectations. The August inflation locked in at 8.3%, which is 0.2% higher than what experts expected. This represents a 0.1%...

Bitcoin’s hash rate continues to move in contrast with the asset’s price as it charted yet another new all-time high recently. This comes even after the latest substantial mining difficulty increase, which was the largest in over six months. Bitcoin Hash Rate New ATH The hash rate is an essential metric in the BTC network as it shows its robustness based on the number of active miners and the computational devices they have plugged into it. Generally, it declines during the...

After the recent volatility, bitcoin seems calmer today but still stands tall above $21,000. Tezos is among the best performers from the mid-cap alts, while Ethereum continues to march towards $1,800 ahead of the long-anticipated Merge. Bitcoin Saw New Weekly High The primary cryptocurrency had a tough week as it plummeted to a six-week low in the middle of it at just over $18,500. This continued the recent trend of losing a lot of value since it dumped below $20,000 at the...

Bitcoin doubled down on its recent gains by surging to a new two-week high above $21,500. Most altcoins are also in the green once again, with ATOM, XLM, and ICP standing out as the best performers. Bitcoin Saw New Weekly High The start of the month brought a lot of pain to the bulls as bitcoin fell below the coveted $20,000 and was unable to reclaim it. The situation worsened a few days ago when the cryptocurrency suddenly dumped to a six-week low of $18,500. However, it...

The past seven days were action-packed, and it’s safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra’s ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let’s unpack. Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K –...

After the market turmoil that brought massive pain to numerous crypto-related companies, FTX continues to channel money into such entities. The latest one in which the SBF-spearheaded organization will acquire a large stake is SkyBridge Capital. According to a CNBC report from earlier on September 9, FTX Ventures will take a 30% stake in SkyBridge Capital. The leaders of the two entities – Sam Bankman-Fried and Anthony Scaramucci, are set to provide further details on the...

In a rather swift departure from its prewar crypto stance, the Bank of Russia is weighing in on the possibility of legalizing crypto for facilitating cross-border payments in the near future. As local news agency TASS reported, the country’s central bank and the Ministry of Finance have agreed that “it is impossible to do without cross-border settlements in cryptocurrency” under the current geopolitical conditions. Deputy Finance Minister Alexei Moiseev said crypto payments...

It appears that the bears are slowly taking control over the market in the short term as the primary cryptocurrency trades below $20K, and the majority of other coins look indecisive at best. Of course, there are certain exceptions. Bitcoin Losing $20K The $20,000 level is one of significant importance. Apart from being a psychological mark, it also contains technical and fundamental support, being the high of the 2017-2018 bull market. With that said, BTC has been flirting...

The total cryptocurrency market capitalization dropped below $1 trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted $20,000 as the bulls failed to produce any meaningful increases. Bitcoin Below $20K The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so. Eventually, this...