What does a highly volatile asset class offer traders, beyond palpitations and the occasional heart attack? Opportunity. Nicole Wirick of Prosperity Wealth Strategies in Michigan summed it up for Forbes: “Market volatility is a normal part of investing and is to be expected in a portfolio. If markets went straight up, then investing would be
Cryptocurrency
Cardano’s ADA cryptocurrency was back in the spotlight Sunday, leading a tepid market recovery following news that the developer network was inching closer to launching smart contracts. Market update The combined value of all cryptocurrencies rose 4.4% on Sunday to $1.6 trillion, according to data from Coingecko. Among the majors, it was Cardano’s ADA leading
After a flurry of activity that saw Dogecoin (DOGE) briefly process a higher dollar-value of daily transactions than Bitcoin (BTC) and Ether (ETH) combined, the surge on the Doge blockchain appears to be slowing down. Dogecoin’s price increase throughout 2021 was accompanied by an equally outlandish increase to the value of transactions taking place on
Bitcoin (BTC) led the entire cryptocurrency market through a tumultuous period after the majority of the cryptoverse was painted red on May 19, a day now also referred to as “Black Wednesday.” BTC’s price fell below $40,000 for the first time since it blew past the resistance level on Feb. 9 on the back of
Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on May 26. The latest funding round takes the total sum raised by Reach to $48 million, as the firm aims to produce a javascript-like programming language for
Decentralized finance (DeFi) was one of the driving forces behind this year’s surge in the cryptocurrency market as projects like Yearn.finance (YFI), Aave (AAVE) and Uniswap (UNI) quickly climbed to ‘blue-chip unicorn’ status and older protocols like Maker (MKR) and Compound (COMP) saw their prices skyrocket to new record highs. But as the old saying
On Thursday, the price of Ether (ETH) surged from $2,443 to almost $3,000 — a 13.55% climb, according to Coinbase data. The strong intraday upside move appeared a day after ETH’s 27.61% price crash. It thus raised hopes that the second-largest cryptocurrency by market capitalization would eventually recover in the days ahead. But the prices
Ethereum co-founder Vitalik Buterin has posted a lengthy paper on the limits to blockchain scalability, criticizing claims made by Tesla CEO Elon Musk. The article, published on Buterin’s personal blog on Sunday, emphasizes the trade-off between decentralization and scalability in architecting blockchain networks. The article comes in response to Elon Musk’s May 15 tweet asserting that Dogecoin will
Ether’s futures premium has gone through a complete cycle, from April’s extreme euphoria to the present level, which is the most bearish in six months. Believe it or not, in both situations, Ether’s (ETH) price was roughly $2,100. This change shows how investors’ mood depends on a few weeks’ performances and holds no relation to
The cryptocurrency sector has undergone a seismic shift in recent years as retail investors and publicly listed companies make their way into the space. Globally, estimates suggest that the number of crypto users surged by about 190% between 2018 and 2020. Record-breaking inflows into the market have also taken the number of active addresses on
In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization. Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d’etre, and is only popular
Institutional inflows into Cardano (ADA) investment products rose sharply last week even as interest in Bitcoin (BTC) and Ether (ETH) waned, highlighting the growth of proof-of-stake assets amid the latest wave of environmental FUD in the markets. Institutional investment managers bought $10 million worth of ADA products for the week ending on Monday, according to
Tether (USDT), the world’s largest stablecoin by market capitalization, continues to grow despite record-breaking cryptocurrency outflows triggered by Elon Musk’s Bitcoin (BTC) criticism. On Monday, Tether’s market cap hit $60 billion for the first time in history, marking another milestone of the stablecoin’s growth. According to data from Tether Transparency, USDT market value amounts to
XRP’s price soared 260% in April, moving from $0.57 on March 31 to $1.97 on April 14, its highest level since January 2018. The move caused XRP futures to reach an impressive $2.1 billion in open interest. However, on Wednesday, as cryptocurrency markets collapsed, XRP lost 60% in four days, liquidating $510 million of long
In the midst of the hectic crypto market, the gas fees in the decentralized finance (DeFi) sector have skyrocketed, once again highlighting the value of layer-two scaling solutions. Cointelegraph Consulting teamed up with Covalent to discover the numbers behind Polygon, the network that is onboarding an increasing number of decentralized applications, from SushiSwap to bZx.
Crypto traders were greeted by green markets on May 24 as the majority of altcoins saw their prices bounce back following last week’s downturn that was the “largest deleveraging event since the March 2020 sell-off,” according to an on-chain report from Glassnode. After suffering the biggest monthly price drop in Bitcoin (BTC) history, bulls now
Popular TikTok viral “meme coin” SafeMoon could be vulnerable to malicious exploits by hackers on account of purported security vulnerabilities in its smart contract code. According to a smart contract audit by blockchain security firm HashEx, SafeMoon currently has 12 of such vulnerabilities with five being classified as ranging between being of a “critical” and
Ethereum infrastructure development platform Polygon’s MATIC token hit new all-time highs on May 18 to become the best-performing cryptocurrency on the day. MATIC hits fresh record high Cointelegraph Markets Pro and Tradingview showed MATIC/USD reaching $2.18 during trading on Tuesday in firm defiance of the broader market downtrend. After being listed on major exchange Kraken
The United States is the country most interested in Ether (ETH), followed by Germany and Turkey, an analysis of search data has revealed. A report by Invezz.com, as reported by Finbold, showed 1,116,000 searches per month for the term ‘Ether’ emanating from the United States. Excluding searches by budding chemists, that’s the equivalent of around
Strategic investor Lyn Alden is convinced Bitcoin has still the potential to reach $100K in the current bull cycle — despite growing uncertainty and increasing volatility. “We are seeing a lot of froth throughout the industry”, she said, referring to the latest rally in a number of meme coins such as Doge. “Those are kind