Tag: crypto price

Bitcoin Stuck in the Doldrums Has Fans Wondering ‘Wen Uptober?’
25Oct By adminNo Comments
Technology

Bitcoin Stuck in the Doldrums Has Fans Wondering ‘Wen Uptober?’

[ad_1] October may bring ghosts and ghouls alive, but Bitcoin bulls’ hoping for “Uptober” are finding that even the typically positive month can’t resurrect the token’s price. October may bring ghosts and ghouls alive, but Bitcoin bulls' hoping for “Uptober” are finding that even the typically positive month can't resurrect the token's price. The largest digital asset is down roughly 1% this month, which, were it to close at that level, would mark its first down October since 2018, coinciding with the last time it was mired in a crypto winter. At this time last year, Bitcoin had gained 40%, 30% the year before that and 12% the one prior. This year's tepid moves prompted analysts at Genesis, among others, to wonder: “Wen Uptober?” That's the name crypto fans have bequeathed the mo...
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Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal
25Oct By adminNo Comments
Technology

Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal

[ad_1] As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin. As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin.After Britain's brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency. Trading volumes between bitcoin and the pound jumped 233% in September overall from the month before, according to data from research firm CryptoCompare, while trading between the cryptocurrency and a similarly battered euro also jumped 68%. "It was the first time we've seen such a huge increase in (bitcoin) volumes for the currency of a developed countr...
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Paris A Crypto Hub? Macron’s Dream May Be a Gamble
24Oct By adminNo Comments
Technology

Paris A Crypto Hub? Macron’s Dream May Be a Gamble

[ad_1] The French president wants to make Paris a crypto hub, but tougher rules are needed to safeguard users. Paris is offering shelter from crypto winter. The City of Lights has welcomed Binance and more recently Crypto.com (of Matt Damon cringe fame) with regulatory licenses; an “NFT Factory” showcasing digital artworks has also opened its doors opposite the Centre Pompidou. President Emmanuel Macron's administration sees an advantage in luring tech talent and investment, while France's culture and entertainment champions have felt pressure to dabble in meta-collectibles in a Silicon-Valley-dominated world — even as enthusiasm has dimmed somewhat. But hopes for a French “exception” to the wider crypto market wreckage are running into the need for tougher rules. Case in point...
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Bitcoin Volume Matters More Than Volatility, Cumberland Says
19Oct By adminNo Comments
Technology

Bitcoin Volume Matters More Than Volatility, Cumberland Says

[ad_1] Crypto volatility might be way down, prompting warnings from analysts about investor interest in the digital-asset sector. Crypto volatility might be way down, prompting warnings from analysts about investor interest in the digital-asset sector. But it's not volatility that matters -- it's volumes. That's according to crypto trading firm Cumberland, which says that volumes, while off the highs of the year, “remain absolutely massive.” Roughly $50 billion worth of Bitcoin derivatives -- excluding spot and on-chain, as well as non-Bitcoin related activity -- are cleared on exchanges each day, prompting the firm to posit that daily activity in crypto may be more than $100 billion, about one-fifth the figure for US stocks. “Recent volatility-driven concerns about the health o...
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Crypto’s Justin Sun Says He Owns ‘Tens of Millions’ Huobi Tokens
14Oct By adminNo Comments
Technology

Crypto’s Justin Sun Says He Owns ‘Tens of Millions’ Huobi Tokens

[ad_1] Tron founder Justin Sun said he owns “tens of millions” of Huobi Tokens. Tron founder Justin Sun said he owns “tens of millions” of Huobi Tokens and that he intends to try and boost the latter now that he's an adviser to its linked crypto exchange. “I would see myself as one of the biggest holders” of Huobi Tokens in the world, Sun said in a Bloomberg Television interview with Emily Chang on Thursday. He added that he began accumulating the token associated with the Huobi crypto exchange in 2013. The coin has rallied about 80% in the last week after Sun became an adviser for the exchange. Huobi is a top-10 crypto exchange globally, according to tracker CoinMarketCap, with about $879.5 million in volume in the last 24 hours. Sun said he hasn't purchased a stake in the bus...
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Bitcoin Becoming Less Volatile Than Stocks Raises Warning Flag
13Oct By adminNo Comments
Technology

Bitcoin Becoming Less Volatile Than Stocks Raises Warning Flag

[ad_1] Crypto traders are warning that in a low-volume environment, that might not be a great thing. At first blush, Bitcoin becoming less volatile than stocks might appear like a positive development. But crypto traders are warning that in a low-volume environment, that might not be a great thing. The coin's 30-day realized volatility has “dropped sharply” in recent days, according to Noelle Acheson, author of the “Crypto is Macro Now” newsletter. It's currently at around 52% after spending the past month above 64% on an annualized basis, according to Coin Metrics data compiled by Acheson. Meanwhile, Jake Gordon at Bespoke Investment Group points to a volatility gauge called BitVol, which has “begun to break down,” falling to near its lowest levels since the spring. The index curr...
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Bitcoin Cowboys Are the Ultimate Stress Test for Texas’ Power Grid
13Oct By adminNo Comments
Technology

Bitcoin Cowboys Are the Ultimate Stress Test for Texas’ Power Grid

[ad_1] As crypto miners flock to the state, they’re piling massive extra electricity demand on an already shaky power system. One scorching hot afternoon, Justin Ballard drives a Nissan Frontier pickup across a stretch of West Texas oil country. For years, Ballard worked these mesquite-covered expanses like any good oil landman, trying to persuade people to let the drill rigs come in and do their work. But he left that search early last year. Now he's scouring the same barren landscapes for a different sort of fuel: natural gas that's being burned off and wasted. This lost gas can be harnessed to power huge arrays of computers that create, or mine, Bitcoin and validate transactions on its ledger, the blockchain. “It's all about stranded energy—searching for it, finding it, mining ...
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$100 million of Binance Coin stolen
7Oct By adminNo Comments
Technology

$100 million of Binance Coin stolen

[ad_1] An already bad year for cryptocurrencies took another turn for the worse after roughly $100 million of Binance Coin was stolen in what appears to be the latest hack to hit digital assets. An exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, billionaire co-founder of Binance, the world's biggest crypto exchange, said on Twitter on Friday. A spokesperson for Binance-backed blockchain BNB Chain estimated the incident involved $100 million to $110 million of digital tokens. At least $7 million of stolen funds has already been frozen, the spokesperson added. The bridge, BSC Token Hub, has been suspended. About $2 billion has been lost in crypto hacks this year, many perpetrated by North Korea-linked groups. Cross-chain brid...
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Bitcoin Price Today Slips as a Wave of Investor Angst Saps Global Markets
28Sep By adminNo Comments
Technology

Bitcoin Price Today Slips as a Wave of Investor Angst Saps Global Markets

[ad_1] The gloom enveloping global markets pushed cryptocurrencies including Bitcoin price lower today. The gloom enveloping global markets pushed cryptocurrencies including Bitcoin price lower on today.The largest token fell as much as 3.1% to a near one-week low and was trading around $18,700 as of 12:45 p.m. in Tokyo. Ether and most other major coins also posted losses. Stocks, bonds and commodities are swooning under a noxious mix of sharp interest-rate hikes, high inflation and a dim economic outlook. A dollar gauge is at a record amid demand for a haven from the maelstrom. If there's any consolation for crypto investors, it's that other assets are breaching major markers whereas Bitcoin is still roughly 6% above June lo...
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Bitcoin Jump Past $20,000 Helps Crypto Scale $1 Trillion Mark
27Sep By adminNo Comments
Technology

Bitcoin Jump Past $20,000 Helps Crypto Scale $1 Trillion Mark

[ad_1] Bitcoin jumped past the $20,000 level and cryptocurrencies as a whole climbed back above $1 tn in market value. Bitcoin jumped past the $20,000 level on Tuesday and cryptocurrencies as a whole climbed back above $1 trillion in market value, helped by a hiatus in the turmoil that gripped global markets this week. The largest token added as much as 6.1% as of 12:30 p.m. in Tokyo, reaching the highest in more than a week. Ether, Solana and Avalanche also rose. The gains came amid a bout of relative calm in global markets after bruising selloffs for stocks, bonds and commodities in the face of rapidly tightening monetary policy to fight inflation and concerns about a recession. Over the past month digital tokens ha...
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