It’s been quite the day for the Bitcoin and crypto-asset market, with the price of BTC breaking above $12,000 after a strong rejection around two weeks ago. Ethereum also saw an extremely strong day, rallying as high as $490 as buying pressure spiked. Altcoins have seen extreme price action as well, with certain market participants…
A spate of exchange delistings has pushed privacy coins further to the fringes of cryptocurrency. The likes of Monero, Komodo, Bytecoin, and ZCoin have all felt the pinch of regulatory compliance in recent times. But things ramped up today as blockchain analytics firm CipherTrace publicized its new Monero tracking tool. In conjunction with the US…
Decentralized finance (DeFi) has taken Ethereum by storm over recent months. This sector of the crypto and ETH economy has grown exponentially, both in terms of capital/dollar value and in terms of active users. While this segment of Ethereum has undoubtedly bolstered the project, founder Vitalik Buterin is steering clear for the time being. Related…
The year 2020 has not been great so far as the global economy continues to reel under the blow dealt by the SARS-CoV-2 pandemic, causing a widespread slowdown. One of the most obvious indicators of troubled waters is the recent poor performance of the US Dollar – the reserve currency. As uncertainty surrounds fiat currencies…
The Federal Reserve Chairman Jerome Powell made a shocking announcement during yesterday’s widely watched speech, in which he noted that the Fed will be allowing inflation to start running past 2%. This had far-reaching implications, influencing the price of assets like gold, crypto, and equities. Although high inflation is overtly positive for Bitcoin in the…
A consortium of Australian banks, led by the Reserve Bank of Australia, reportedly brought legal action against Ripple Labs for copyright infringement. The issue relates to PayID, a payment network operated by the Open Payments Coalition (OPC). The list of participants includes over 40 global companies such as GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and…
Bitcoin saw some immense turbulence earlier today that came about due to news regarding the Federal Reserve’s intention to anchor interest rates near zero while they allow inflation to run high in the near-term to support the economy. This instantly led macro assets like Bitcoin, gold, and other safe havens to rally, with BTC’s price…
TIDAL, high-fidelity music and video streaming service owned by JAY-Z, Lil Wayne, Rihanna, Calvin Harris, Daft Punk, and Chris Martin, has purchased $7 million worth of SENSO. This ERC-20 token functions as the in-platform token of Sensorium Galaxy — a social VR platform that allows users to communicate in a new way, attend concerts, dance…
Just when you thought China was advancing unopposed in the national digital currency race, the Fed finally steps up. The Federal Reserve Bank of Boston, in conjunction with the Massachusetts Institute of Technology, is developing a digital currency geared towards “central bank use.” On that, Boston Fed Assistant VP Robert Bench said developing the project…
Bitcoin investors have been accumulating the cryptocurrency at a rapid pace throughout the past few months, with much of this buying pressure coming from retail investors. One metric from analytics platform Glassnode highlights just how intense this accumulation trend has been as of late, with the number of “accumulation addresses” seeing rapid growth throughout the…