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According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Nigeria needs to dismantle “the various exchange rate windows at
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Post Ethereum (ETH) merge, layer-2 blockchains have been catching the eyes of users and investors alike. Research firm Delphi Digital has been tracking Arbitrum since August and recently shared its analysis in a monthly market report. According to data, user behavior and historical analysis show multiple trends of rapid growth
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The SOL token fell 4.7% in the past 24 hours, and crypto traders are forming all sorts of theories as to why. Original Source
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The CoinDesk Market Index fell by 1.6% over the past 24 hours. Bitcoin (BTC), the largest cryptocurrency by market value, was down 1.7%, changing hands in a range between $19,300 and $19,700. Ether (ETH), the second-largest by market capitalization, followed a similar trajectory, down 2% to about $1,300 as of
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“This shows more positioning/engagement from investors,” said Florian Giovannacci, head of trading for Covario, a prime brokerage for digital assets. Giovannacci noted that this isn’t a sign of bullish or bearish positioning, though, and that bitcoin basis levels are a better indicator for that. Original Source
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Data from Coingecko indicates a surge in the price of Ravencoin (RVN), over the past month the cryptocurrency is moving against the
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According to Menon, while the digital asset ecosystem uses blockchain, distributed ledger technology and tokenization to allow "anything of value to be represented in digital form, and to be stored and exchanged on a ledger that keeps an immutable record of all transactions" cryptocurrencies are just "heavily speculated upon" while
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In crypto, the speculative furor is even more intense because of the degree of potential disruption and because the barriers to achieving that disruption are so high that the cycles of hope and disappointment are more extreme. Source
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Nevertheless, some observers said there may have been fundamental reasons behind the gains. “The parabolic move by SHIB is mainly fueled by the coming Shibarium protocol,” shared Adam O’Neill, CMO at crypto exchange Bitrue, in an email. “This move is also partly coming from SHIB burnt token that has reached
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