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Welcome to The Daily Forkast, December 10 2021, presented by Megha Chaddha. On today’s show: Hong Kong-based Animoca Brands announces equestrian joint venture with Aquis to create equestrian related metaverse products, games and NFTs. Shiba Inu community still hurting following Bitmart hack. Finally, could blockchain technology offer an interesting inflation hedge option? We’ll have
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Bitcoin (BTC) recovered above $48,000 on Dec. 10 after another fall took BTC/USD to lows of $47,350 overnight.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTaper tantrumsData from Cryptox Markets Pro and TradingView showed the pair orbiting $48,300 at the time of writing as markets braced for November’s Consumer Price Index (CPI) readout.As
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On Thursday, Frax Finance, a developer of algorithmic stablecoins, announced it would launch the Frax Price Index, or FPI, on the Partisia blockchain. The benchmark would have its stablecoin pegged to it and serve as a competitor to the standard Consumer Price Index, or CPI. Although the latter is a
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Bitcoin (BTC) was created in the aftermath of the 2008 financial crisis and planned to solve the problems created by loose monetary policies. The cryptocurrency’s creator, Satoshi Nakamoto, said in late 2008 that the cryptocurrency’s supply increases “by a planned amount” that “does not necessarily result in inflation.”The cryptocurrency’s inflation
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By 2021, proof-of-stake (PoS) anchored itself as the consensus mechanism of choice for new and innovative blockchains. Ethereum 2.0, Cardano, Solana, Polkadot, Terra Luna — five out of the top 10 base layer blockchains run on PoS. It’s easy to see why PoS blockchains are popular: The ability to put
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So the shift in messaging by Powell, during testimony before a U.S. Senate panel, might signal that authorities now see the inflationary pressures as longer lasting – potentially indicating the bank might be less willing to continue the loose monetary policies that have buoyed markets for risky assets, including cryptocurrencies. Original
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The author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has revealed that he is buying more bitcoin and ether amid rising inflation concerns. “Inflation is a tax on the poor and middle class. Inflation makes the rich richer,” he stressed. Robert Kiyosaki Warns About Inflation, Reveals He’s Buying
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Good morning. Here’s what’s happening this morning:Market moves: Bitcoin continues to drift below $60,000 as Biden tees up his pick for Federal Reserve chair.Technician’s take: Momentum is still positive on a weekly basis, which is consistent with a bullish uptrend.Catch the latest episodes of CoinDesk TV for insightful interviews with
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Inflation in the U.S. has a large number of Americans worried about the future of their purchasing power as the cost of goods and services has continued to rise faster every month. Reports note that Americans are struggling to pay for child care, groceries, gasoline, lumber, healthcare supplies, and used
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Bitcoin trading volumes are rising in Turkey as the increasingly authoritarian government there goes diligently about the work of setting its currency, the lira, on fire. Turkish President Recep Tayyip Erdogan, who has retained power since 2003, has to all appearances lost his mind: With inflation sitting at around 20%,
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