The cryptocurrency market has been on a tear over the last month as Bitcoin price climbed 73% from a low of $29,200 on July 20 to a high of $50,478 on Aug. 26, a move that has warranted caution from Dan McDermitt, cryptocurrency market analyst and co-founder of TheChartGuys. According to McDermitt, Bitcoin’s relentless march
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Asset managers and companies currently hold over 6% of Bitcoin’s (BTC) circulating supply, according to Buy Bitcoin Worldwide. A breakdown of the data shows Bitcoin fund issuers and asset managers hold about 4% of Bitcoin’s supply, public companies account for nearly 1% and private companies own roughly 0.83% of the cryptocurrency’s supply. It’s clear that
Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of
Ether (ETH) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential.
Cardano (ADA) addresses with a balance greater than $1 million have surged by 173% during the latest ADA price rally. Specifically, the ADA/USD exchange rate surged by almost 200% after bottoming out at $1.007 on July 20. The pair reached its record high of $3.02 in the previous session, a move that followed up with a 6.42%
Liquidity market protocol BENQI has reached $1 billion in total value locked, or TVL, less than a week after launching on the Avalanche (AVAX) network, a major milestone that highlights the explosive growth of decentralized finance (DeFi) lending services. Benqi Finance announced the milestone on Twitter late Sunday, where it thanked its community for the
Everyone is wild about nonfungible tokens (NFTs). The first half of 2021 alone saw NFTs from Andy Warhol, NFTs of the code for the World Wide Web, the first-ever Tweet and, of course, the famous $69 million NFT sale of Beeple’s “Everydays.” Whether this explosive rise of NFTs is a flash in the pan or
Layer-one blockchain networks like Bitcoin (BTC) and Ethereum (ETH) form the foundation of the cryptocurrency ecosystem and enable smart contract functionality that has allowed the creation of new industries like decentralized finance (DeFi) and nonfungible tokens (NFT). Avalanche (AVAX) is a relatively new layer-one solution that has recently seen a significant increase in price and
The nonfungible token (NFT) sector of the cryptocurrency ecosystem has made waves that splashed across the headlines of even mainstream news outlets in 2021. Celebrities, musicians, sports teams, established auction houses and even fast-food restaurants got involved with the creation and/or sale of one-of-a-kind digital items. With the top NFT marketplaces like OpenSea seeing record-breaking
Decentralized exchange aggregator 1inch has announced its deployment on the Optimistic Ethereum, or OE, mainnet, highlighting a considerable reduction in user transaction fees and confirmation delays. Sergej Kunz, co-founder of the 1inch Network stated “the 1inch launch on Optimistic will facilitate a dramatic increase in transaction speed.” While deposits utilizing the OE network are set
Bitcoin (BTC) is facing a stiff challenge from the bears near the $48,000 mark. As Cointelegraph reported earlier, the buy and sell levels show that sellers on Binance have held their ground at $48,000. PlanB, the creator of the stock-to-flow Bitcoin price model, said if Bitcoin manages to close August above $47,000, the year-end “worst-case
As the blockchain industry expands and becomes more of a fixture in everyday life, the idea of ‘one chain to rule them all’ and the general ideology of blockchain maximalism is beginning to fall to the wayside and the focus on interoperability and cross-chain collaboration is coming to the forefront. One project that is specifically
Bitcoin (BTC) is approaching its second attack on pivotal resistance this week as bulls remain firmly in the driver’s seat. After a mixed weekend that saw both a run on $48,000 and a major rejection at that level, Bitcoin is already back, having made up all of its losses. With conditions broadly favorable for continued
The much-talked-about Ethereum hard fork finally went live on Aug. 5 after block 12,965,000 was mined. Dubbed “London,” the software upgrade will bring together significant alterations in Ethereum’s code. Overall, the code changes target improvements to the network’s transaction fee market, user experience and much more. London comes with five Ethereum Improvement Protocols (EIP), with
Leading data oracle provider Chainlink has announced its successful launch on Arbitrum One — the beta mainnet deployment of layer-two Ethereum scaling solution, Arbitrum. Announced August 12, the launch will allow developers building on Arbitrum One to access financial market data directly on-chain, providing enhanced functionality to decentralized exchanges, algorithmic stablecoins and other advanced DeFi
A KPMG report titled “Pulse of Fintech H1 2021,” shows that the total investment in the blockchain and cryptocurrency sector in the first half of this year has risen to $8.7 billion, which is more than double the $4.3 billion worth of deals done in 2020. KPMG global fintech co-leader Anton Ruddenklau said: “Cryptocurrency and blockchain
Self-professed Bitcoin (BTC) maximalist Jack Dorsey, CEO of Twitter, is not giving Ethereum (ETH) fans an inch. In his latest offhand remark about the market’s second-largest cryptocurrency, Dorsey downplayed the platform’s potential to shake up the status quo in Big Tech single-handedly: Disrupting “Big Tech” is exactly what’s needed and what I want. No one
If you’re conversant with the cryptocurrency space and you keep tabs regularly on the happenings going on in the ecosystem, then you felt the excitement during Bitcoin’s (BTC) rally to $63,000 in mid-April. This excitement is currently being caused by the bullish mood crypto enthusiasts and stakeholders are in at the moment. And this bullish
The overall feel across the cryptocurrency landscape over the past week has been one of bubbling anticipation, with the Ethereum network finally undergoing its London hard fork, which includes reforms to the transaction fee market, thanks to EIP-1559. London is the latest in a series of upgrades that are part of Ethereum’s measured transition from
This week Ethereum’s London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100. Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in