The price of Cardano (ADA) rose more than 100% in the past week as it overtook Bitcoin Cash (BCH) to become the world’s sixth-largest cryptocurrency by market capitalization. There are two major factors behind ADA’s strong upsurge throughout the past several weeks. First, most major cryptocurrencies saw large rallies following BTC’s uptrend to $36,400 and
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Newsweek, one of the largest American weekly news magazines, has taken a positive spin on Bitcoin (BTC) in a recent article that explores whether the digital asset can become the new gold standard. The article, which appeared on Wednesday, dissects the digital gold narrative using JPMorgan’s latest model showing a potential BTC price of $146,000.
The total value locked in decentralized finance, a measure that tracks the amount of assets committed to the DeFi ecosystem, has soared to $18 billion according to DeFi Pulse. TVL chart by DeFi Pulse While the chart may suggest that DeFi adoption is growing, it requires some interpretation to be properly understood. Total value locked
Bullish price activity has tipped the total value of ETH locked into Ethereum 2.0 past $2.4 billion. Find out what other network metrics have been impacted by ether’s latest price gains.https://www.coindesk.com/new-year-new-price-gains-eth It’s safe to say that 2021 is off to a great start for Ethereum. Since ringing in the new year on January 1, the
With just two weeks left in office, President Trump has sent out a new executive order targeting Chinese payment apps. The Jan. 5 order bars U.S. citizens or people located in the U.S. from using nine Chinese payment apps. It continues the White House’s earlier efforts to cut off the U.S. market from Chinese-owned apps like
Ethereum has the potential to extend its ongoing upside move towards or above $1,500. The second-largest cryptocurrency broke above a consolidation price channel on Wednesday, breaking its upper trendline on surging volumes. So it appears, the channel is an Ascending Triangle that traders perceive as a bullish continuation indicator. An Ascending Triangle structure develops when
Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since
Stellar (XLM) is winning the battle of the blockchain payment networks against Ripple this week as sentiment flips in its favor. Data from monitoring resource The TIE confirms that long-term sentiment towards XLM is now higher than towards XRP, the altcoin in which embattled Ripple is the largest stakeholder. XLM sentiment beats out XRP The
The Bitcoin (BTC) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high. According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by
Crypto fans love to defend their favorite assets. Just look at the XRP army and the LINK Marines. Does the hype expressed on Twitter match up with high trading activity though? A few altcoins throughout 2020 revealed mixed results. Using information from The Tie, a crypto data platform, Cointelegraph looked at assets’ Hype-To-Activity Ratios matched
Kyrgyzstan’s central bank has completed the drafting of two bills designed to recognize and regulate the country’s emerging crypto sector. According to an official announcement, the National Bank of the Kyrgyz Republic has opened up the two bills, “On the Processing of Cryptocurrencies” and “On amendments to legislative acts in the field of virtual assets,” to public discussion.
The number of stolen bitcoins that were publicly reported in 2020 dropped to 4,472 coins or 0.02% of the digital asset’s circulating supply. This new figure represents a 92% drop from the 56,870 reported in 2019. When using current bitcoin prices, the 2020 thefts caused losses that are equivalent to $140 million versus the 2019
An increasing number of mainstream giants have put their money into Bitcoin in recent months. While some speculate that these firms intend to hold their Bitcoin investments for years, Bitpay’s chief commercial officer isn’t so sure. He thinks that these companies may sell their holdings sooner than originally planned, if the price continues to move
Shares in fund manager Grayscale Investments’ Ethereum Trust plummeted by 50% this past fortnight, despite Ethereum rallying by 75% over the same period. ETHE shares represent 0.09620794 of an Ether each and are currently trading for $13.80 — roughly a 21% premium over the spot price of ETH. Grayscale’s ETHE shares have been on a
XRP has once again lost its place as the fourth-largest cryptocurrency, with lawsuits mounting against Ripple after one of its major investors followed the SEC in filing a complaint against the project. According to a Jan. 6 report from Bloomberg, Tetragon, one of the lead investors in a $200 million Series C funding round for