Cryptocurrency Analysis and News Portal
Price PointIt’s been two steps forward, one step back for bitcoin (BTC) over the past couple months. Prices were down early Wednesday for a second straight day after pushing earlier this week past $12,000 to a new 2020 high. The price move accelerated as traders got hit with margin calls on the BitMEX exchange. You’re
Read More
Congestion is building on the Ethereum blockchain, the second-largest blockchain, thanks to the recent popularity of dollar-linked “stablecoins” and “decentralized finance” applications like Compound. And now fees to process transactions, which escalate when congestion is high as some users pay up for faster execution speeds, are soaring to levels not seen since the initial coin
Read More
After a two-day closed-door meeting this week, the Federal Reserve issued a six-paragraph statement on Wednesday and held an hour-long press conference. None of that was news, of course, and neither was anything else emanating from the U.S. central bank, which announced no policy changes. You’re reading First Mover, CryptoX’s daily markets newsletter.
Read More
Bitcoin has at last broken convincingly above the all-important $10,000 mark, but why has it struggled so much in recent months when gold has soared to an all-time high? Earlier this year, digital-asset investors were aflutter over the trillions of dollars of central-bank money injections in response to the coronavirus-induced global
Read More
Rising congestion on the Ethereum blockchain has driven up transaction fees tenfold this year to the highest since early 2018. That’s pressuring the network’s developers to speed up crucial upgrades, while possibly creating an opening for competitors to lure away project developers. It’s a lucky problem to have, since the congestion
Read More
In the race to become the dominant cryptocurrency platform, Ethereum is gaining on Bitcoin. Take a look at the market capitalization of ether, the native token of the Ethereum blockchain. Currently, the value stands at about $26 billion. But that figure doesn’t include all of the digital assets built atop the
Read More
Even as bitcoin prices languish below $10,000, North American cryptocurrency mining companies are tapping into a flurry of fresh financing from investors to pay for new equipment upgrades, bolstering the blockchain network’s resilience and reducing its reliance on Chinese operators. More than $1 billion of new bitcoin-mining computers will be purchased
Read More
Cryptocurrency traders yawned at one of the year’s biggest news stories for bitcoin, with prices barely budging as the digital-asset industry became a primary victim of this week’s massive hack on Twitter accounts. The notoriously volatile bitcoin slid just 0.8% to about $9,100 on Thursday after slipping a meager 0.7% on Wednesday
Read More
In a paradoxical twist, bitcoin’s price, which is denominated in dollars, has become unusually stable in recent weeks, prompting some Twitter users to joke that it’s trading like a stablecoin. “It’s surprising to see bitcoin be so boring given everything happening both within and outside the crypto industry,” the digital-asset analysis firm
Read More
Bitcoin has traded in an ever-tightening range for two months, and digital-market analysts say a new wave of coronavirus cases and emergency measures could provoke the largest cryptocurrency by market cap out of the doldrums. The backdrop is an anemic economy, with the International Monetary Fund projecting last week that global output will shrink 4.9%
Read More