Tag Archives: social

Bitcoin went on a short-lived roller-coaster yesterday but has reclaimed $30,000 after dumping to a 10-day low. Yet, its dominance over the altcoins has declined a lot on a daily scale, as some, such as LTC, LDO, VET, and BSV, have shot up. BTC’s Dump and Pump After last week’s massive price surge, which drove bitcoin from $26,500 to over $31,000 at one point, the cryptocurrency had calmed and remained in a tighter range between $30,000 and $31,000. It tried to overcome the...

A lot can change in the cryptocurrency industry within a week, and the waves indeed fluctuated in the past seven days. The market rejoiced recently as several multinational financial giants filed for a Bitcoin Spot ETF, but the tides could be turning now, according to a WSJ report from Friday. Let’s unpack. BlackRock shook the crypto market two weeks ago when it filed an application to release a BTC Spot ETF in the States, which would make it the first such product...

The past 24 hours saw Bitcoin’s price attempt a shot at $31K and maintain its dominance over the rest of the market. It’s worth noting that some altcoins performed incredibly well, charting gains close to 30%. Let’s dive in. Bitcoin Price Taps $31K As CryptoPotato reported yesterday, Bitcoin’s price soared to $31K, sparking a wave of liquidations totaling upward of $100 million. Source: TradingViewIt’s worth noting that Bitcoin’s dominance – the metric which tracks its share...

What a week! It’s safe to say that being a bear throughout the past seven days must have been rough. The cryptocurrency market exploded above $1.2 trillion on the back of major gains from the majority of coins, including Bitcoin. There’s a lot to unpack, so let’s dive in. First things first, Bitcoin’s price is up a whopping 18% in the past seven days, trading above $30K at the time of this writing. The week started on the right foot as the price was slowly chipping upwards...

Billionaire Twitter co-founder Jack Dorsey plans to allocate more capital to the Bitcoin ecosystem after pledging $5 million to the network’s core developers through his grantmaking organization Start Small. The firm will distribute the funds to the Bitcoin development non-profit, Brink, over the next five years in $1 million annual installments.  According to its website, Brink exists to “support the Bitcoin developer community through funding, education, and mentoring.” ...

The world’s largest asset manager made a massive step towards its involvement in the cryptocurrency industry this week by filing for a Bitcoin Spot ETF with the US Securities and Exchange Commission. With so many previous applications for such a product by other companies failing before, the community wondered whether BlackRock’s attempt seems doomed from the get-go. However, the behemoth’s success rate with the SEC has been rather unmatched so far. History to Repeat But for...

An analysis by crypto market data provider Kaiko revealed that USD Coin (USDC) is currently the most liquid stablecoin on centralized exchanges (CEXs), with approximately $38 million bids preventing a .1% price deviation of the asset. USDC’s liquidity is followed by that of Tether (USDT), Binance USD (BUSD), True USD (TUSD), and Dai (DAI). The data compiled by Kaiko includes the .1% bid-side depth across all markets that use USDC as a base asset. USDC – the Most Liquid on...

Central Bank Digital Currencies (CBDCs) are slowly becoming a reality. The initial hype may have faded, but to crypto advocates’ disdain, these digitized versions of legal tenders appear to be inevitable. So far, 100 countries are reported to be exploring the concept in some form or the other. Despite not yet being rolled out full-fledged, CBDCs have managed to attract numerous narratives. Social Experiment? Project Rosalind – a central bank digital currency (CBDC) initiative...

A new report by America’s largest cryptocurrency exchange Coinbase revealed that the effect of Bitcoin halving events on the asset’s performance is still unclear as several exogenous factors play significant roles in the market’s behavior. While the halving is viewed positively because it is believed to enhance BTC’s prospective scarcity and support its supply-demand dynamics, getting a clear picture of the market’s reaction would require disentangling the effects of U.S....

Bitcoin has finally calmed and remained relatively stagnant on a daily scale at around $26,500 after the massive volatility experienced during the business week. Most altcoins are in a similar state with insignificant daily gains or declines, aside from APT, which is up by 6% today. BTC Stalls at $26.5K Last weekend was quite uneventful for the primary cryptocurrency, aside from a brief pump and dump at around $26,000. As such, the asset entered the working week in a calm...