Author: hotcrypto
By Tom Westbrook and Hannah Lang SINGAPORE/WASHINGTON (Reuters) -Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low, with analysts divided over the reason behind the decline. Bitcoin fell as much as 7.7% to $21,404 over a few minutes during the European morning, at around 0640 GMT. It recovered slightly to trade around $21,528 at 1651 GMT, down 8.05% on the day. Ether was last down 8.32% at $1,721. Marcus Sotiriou, analyst at digital asset broker GlobalBlock, in a research note said there did not appear to be a single catalyst that led to the heavy…
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The global crypto market has changed its direction as various coins have turned bullish. The value of Bitcoin saw improvement as it reduced losses. While in comparison, Binance Coin and others have seen considerable gains. The ongoing situation shows that the market has experienced a push from the investors. As the market turns bullish, the investors will see an increase in gains. The only thing the market needs is a continuation of the same pace. Some analysts have raised questions over the vulnerability of Ethereum to censorship after the merge. The recent changes in the market, like sanctions against Tornado…
The Ethereum [ETH] All-Core Developer meeting concluded late on 18 August as they prepare for the upcoming Merge. Several important matters were discussed including the consequences of sanctions imposed on Tornado Cash. The developers also discussed problems that have shown up since the testnet merge for the Ethereum PoS transition. Reporter Christine Kim and Ethereum Core developer Tim Beiko posted their insights on the ACD call for their respective followers. Beiko further ascertained that the Merge launch is set for launch on 15 September with the Total Terminal Difficulty (TTD) now confirmed. However, this date may fluctuate in accordance with…
Advertisement     The cryptocurrency market started more than a decade ago and was marked by the launch of Bitcoin. Today, there are thousands of tokens in the crypto space. Each of them offers users a unique utility and access to blockchain-based features. While Bitcoin is the most prominent name on the coin market, a few projects are looking to dethrone and replace it. This piece will look at how one of these upcoming projects – Persystic Token (PSYS) – plans to become the next big cryptocurrency. Bitcoin’s Dominance Of The Cryptocurrency Market The cryptocurrency market was launched…
U.S. authorities have warned about the rising popularity of a crypto scam known as “pig butchering.” The Federal Bureau of Investigation (FBI) explained: “The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money.” ‘Pig Butchering’ Crypto Scam on the Rise U.S. authorities have been warning about a type of cryptocurrency scam called “pig butchering” that has been growing in popularity at an alarming rate. Lakewood Police Public Information Officer John Romero detailed: The term pig butchering basically comes from a farmer fattening up the…
The latest market crash has left Bitcoin in shambles. Dropping from its November all-time high of $69,000 to its two-year low of just $18,000, Bitcoin dragged the rest of the market with it deep into the red.However, unlike the rest of the crypto market, Bitcoin didn’t see activity on its network subside.The latest data from Glassnode showed that the total number of unique addresses on the Bitcoin network reached its all-time high. Over 1 billion unique addresses currently participate in Bitcoin transactions.Graph showing the total number of unique addresses for Bitcoin, Ethereum, and Litecoin (Source: Glassnode)This growth rate is unique…
Over the course of the week, the crypto market had succumbed to selling pressure. These sell-offs changed the trajectory of the market as many of the top cryptocurrency prices plunged. However, meme coin, Shiba Inu [SHIB] may have “ignored” the ritual of following the Bitcoin [BTC] momentum. At press time, SHIB was 4.12% up in its token price. Against BTC and Ethereum [ETH], SHIB also gained in the last 24 hours. The cryptocurrency was up 6.94% against ETH while it rode up 4.09sb% against the king coin, BTC. Inadequate strength This SHIB momentum might come as a surprise to many…
Vechain (VET) is on a rebound alongside the rest of the crypto market. However, as altcoins typically follow Bitcoin’s cue, VeChain has been a bit of an outlier. March has been a good month for VET, and while the rest of the market started rising only about a week ago, VeChain has been on an uptrend for most of the month. For context, BTC has gained a marginal 8.6%, while VET has risen by about 66%. VeChain is not riding on the current crypto market momentum. Over the past week, VeChain has gained about 54%, compared to BTC, up by…
rayisa Bitcoin: This Time Is Different! As opposed to the grassroots movement it once was, institutional fund flows primarily drove Bitcoin’s (BTC-USD) most recent bull trend. In 2020, the US Federal Reserve lowered interest rates to 0 and provided over $2.3 trillion in loans to support the economy. This, combined with Covid-19 stimulus checks given directly to citizens, worked to funnel billions of excess liquidity into the crypto casino. BTC:USD – 2W (TradingView) With Bitcoin’s unraveling and dip below $20k, much of the magic surrounding cryptocurrencies has diminished. We believe the current bear market is forcing investors to realize numerous…