A new ranking of global central bank digital currencies, or CBDCs, places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies. In its 2021 CBDC Index, global consulting firm PwC surveyed the level of central-bank maturity in deploying cryptocurrencies
During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions. This appears to be what happened on April 18 as traders jumped at the opportunity to buy Bitcoin and altcoins at lower levels. However, no market can keep going up in
After bitcoin and a myriad of other crypto-assets tumbled in value on Sunday a number of significant whale movements took place. During the morning trading sessions on Sunday (EST), an old school miner transferred three decade-old coinbase rewards with 150 bitcoin worth more than $8.5 million. Later on in the evening, just before the transition
The price of Binance Coin (BNB), the native cryptocurrency of Binance and Binance Smart Chain, rallied by more than 20% in the last 24 hours. The swift recovery comes after a market-wide correction on April 18, during which major cryptocurrencies including Bitcoin (BTC) and Ether (ETH) saw a sharp decline. ETH price, for instance, declined
The price of Bitcoin (BTC) is recovering after a strong sell-off during the weekend, caused by cascading liquidations in the futures market. Traders are pinpointing three levels as the critical price areas to watch in the short term: $51,200 as the major support, $60,300 as the important resistance, and $57,000 as the near term area
Ether (ETH) has been on a tear recently, with the premier altcoin’s value increasing from $1,800 to the peak of $2,480 since the start of April, showcasing a growth of nearly 30%. This latest wave of monetary momentum comes in the wake of Ethereum being on the receiving end of a lot of criticism regarding
Cardano (ADA) has become one of the most prominent upcoming blockchain networks. Its native token, ADA, has risen to become one of the top 10 cryptocurrencies in the world by market capitalization in a short time span. It currently ranks seventh, with a market capitalization of over $41 billion. It accounts for nearly 2% of
Several South Korean financial authorities are planning to join forces to combat illegal operations involving cryptocurrencies like Bitcoin (BTC). The interagency crackdown comes in response to growing concerns over speculative investments and potentially illegal activities amid the ongoing boom in crypto markets, Koo Yun-cheol, head of the Office for Government Policy Coordination, said Monday. “There
Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate. China, US rumors lead the BTC sell-off Cointelegraph Markets Pro and TradingView showed a brutal hour for Bitcoin bulls everywhere early on Sunday as the market went from $59,000 to $52,000 in minutes.
While Americans are still getting their third stimulus payments, discussions of tacking on a fourth round of direct payments to Joe Biden’s trillion-dollar infrastructure proposal have started trending. Just recently, a coalition led by Senate Finance Chair Ron Wyden and over a dozen Democratic leaders wrote a letter to President Biden asking to get “much-needed
Woo noted reports identifying the blackouts were published late last week, with the power outages occurring to facilitate safety inspections in response to a recent flooding accident at a local coal mine that saw 21 miners temporarily trapped underground after power and communications went down. According to the Cambridge Bitcoin Energy Consumption Index, or BECI,
Many users on social media have started an online campaign for Pakistan Prime Minister Imran Khan to bring back pro-crypto adviser Zia Ullah Bangash. On Saturday, Bangash, the science, technology, and information technology adviser to Mahmood Khan, the chief minister of the Khyber Pakhtunkhwa province, announced he would resign his position. Bangash cited “unavoidable circumstances” in his
The most recent Bank of America Fund Manager Survey shows that about three out of four professional investors think that bitcoin is a bubble. The fund managers also rated bitcoin second on the list of the most crowded trades. Recently, investment bank JPMorgan also warned that cryptocurrency as a sector is in a bubble. Bank
With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit Stats. The gains are hardly surprising given DOGE’s dramatic rally over the
The funding rate of Bitcoin (BTC) has dropped to levels not seen since September 2020 as the price of Bitcoin plummeted below $52,000 on April 18. Quant trader and analyst Lex Moskovski says it shows fear has returned to the market. According to the data from Glassnode, the average Bitcoin futures funding rate across all exchange
Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets. According to Chinese journalist Colin Wu, Li made the comments at the Boao Forum in southern China on Sunday. The