Tag: crypto business

Bitcoin Drops Below $29,000 for the First Time in Over a Month
25Jul By adminNo Comments
Technology

Bitcoin Drops Below $29,000 for the First Time in Over a Month

[ad_1] Bitcoin dropped below $29,000 for the first time in over a month as the recent exorbitance over ETFs and a more favourable regulatory outlook eases.The largest digital-asset by market value fell as much as 4.2% to $28,865, the least since June 21. Bitcoin is up around 75% this year. Most other tokens were also lower on Monday, with recent high-flyer XRP down about 7% and Solana off 8%. “After a sharp rally spurred by spot ETF excitement, Bitcoin has consolidated for over a month around $30,000 as the market awaits incremental information regarding the probability of the myriad of filings coming to fruition,” said Spencer Hallarn, a derivatives trader at crypto investment firm GSR. The recent jump in Bitcoin coincided with a raft of filings for Bitcoin exchange-traded funds in the...
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Crypto’s Peer-to-Peer Exchanges Lose Ground in a Shrunken Market
24Jul By adminNo Comments
Technology

Crypto’s Peer-to-Peer Exchanges Lose Ground in a Shrunken Market

[ad_1] Crypto exchanges that connect buyers and sellers directly without Wall Street-style middlemen are under pressure to improve their services amid a decline in market share.These so-called decentralized platforms facilitate trading via algorithmic, blockchain-based software known as smart contracts, with users retaining custody of tokens rather than handing them to an intermediary institution. Crypto diehards predicted a golden period for peer-to-peer trading venues such as Uniswap and dYdX after last November's collapse of the FTX exchange, which undermined trust in centralized platforms that take control of tokens. But that hasn't panned out: monthly spot trading volumes on decentralized exchanges slid 76% to $21 billion by June this year versus January 2022, more than the 69% dro...
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