Some financial experts believe that the price of cryptocurrencies is solely driven by investors’ speculation, and in the past few years detractors have suggested that fixed income instruments like treasury bills have no relation to do with digital assets. This point of view is fairly accurate because, at this time, most investors from the asset
Decentralized finance (DeFi) protocol Cream Finance will pay back its users following a $18.8 million flash loan hack that occurred on Aug. 30. Cream has published a post-mortem to the AMP flash loan exploit, promising to replace the stolen Ether (ETH) and Amp (AMP) tokens by allocating 20% of all protocol fees until the debt
Bitcoin (BTC) revisited weekly lows on Sep. 1 as the new month got underway with a fizzle rather than a bang. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin lingers in “price stability” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $46,530 on Bitstamp overnight, its lowest since Aug. 27. With $50,000
El Salvador’s Legislative Assembly has passed legislation creating a $150 million dollar Bitcoin Trust and supporting the development of crypto infrastructure and services across the country. The bill passed on Aug. 31, with 64 officials voting in favor and 14 opposing the trust’s creation. The Trust is designed to facilitate conversion of Bitcoin into U.S.
Justin Sun, founder of Tron, a smart contract-enabled cryptocurrency, announced he purchased an NFT avatar for $10.5 million. The NFT, dubbed ‘Joker’ due to its appearance, is part of a Tron-native NFT series called Tpunks, that seeks to emulate the style and success of the known Cryptopunks series, but on the Tron blockchain. Justin Sun
Layer-1 smart contract platforms increased their market share throughout August after the Ethereum network London hard fork did little to solve the major issues of high transaction fees and network congestion. One top-10 protocol that has been gaining momentum, but has yet to experience a significant price breakout to new highs like some of its competitors
Just looking at Binance Coin’s (BNB) reported market capitalization, one might conclude that the token is the dominant asset when compared to other exchange tokens. Although there is no direct relationship between Binance’s exchange volume (or revenue) and token economics, traders seem to use it as a proxy. The controversial burn mechanism has been losing
Bitcoin (BTC) continued to range below $50,000 on the last day of August as analysts demanded higher levels in order to continue the bull run. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $51,000 remains the deal-breaker for BTC Data from Cointelegraph Markets Pro and TradingView painted a dull picture for investors Tuesday as BTC/USD continued to
After a blistering start to 2021 saw token valuations and trading volumes surge to ignite the current bull market, the DeFi sector as a whole took a break while the NFT sector stepped into the limelight. While investors’ attention was elsewhere, DeFi prices have had time to consolidate and project developers were able to focus
According to local media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future. Under the current legislation method, the authority analyses an individual’s digital asset activity on a case-by-case basis by trawling through their buy and sell
The popular professional tennis player Naomi Osaka has been discussing non-fungible token (NFT) assets and the meme crypto asset dogecoin in recent times. In a recent interview, Osaka said that she’s been talking to her agent about dogecoin and that she sees the crypto ecosystem “is getting bigger.” Naomi Osaka Drops ‘Finding What Was Lost’
FTX.US, the United States-based affiliate of Sam Bankman-Fried’s cryptocurrency exchange FTX, is acquiring crypto derivatives platform LedgerX for an undisclosed amount. FTX.US’ owner West Realm Shire Services announced on Aug. 31 that the company had executed a sale and purchase agreement to acquire LedgerX’s parent company Ledger Holdings. The deal is expected to close, pending satisfaction
Bitcoin (BTC) saw fresh local lows on Aug. 31 as limp price action diverged further from bullish sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin evades bullish continuation Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing at $46,700 on Bitstamp after dropping $2,000 in hours. Part of a multi-day rangebound construction, the
Anthony Scaramucci, CEO and founder of SkyBridge Capital, thinks Bitcoin (BTC) can reach $100,000 before the end of the year, mainly due to the exponential growth in demand every month. “The bottom line is you have the limited and fixed supply of Bitcoin and you have every month exponentially more demand,” Scaramucci told Cointelegraph in
U.S. Department of the Treasury will reportedly push to extend the reach of new rules designed to govern the cryptocurrency space. Closely following the infrastructure package freighted with last-minute crypto taxation provisions is the upcoming budget reconciliation bill that could also see additional requirements for cryptocurrency businesses. Citing an unnamed official within the Biden administration,
Naomi Osaka, a top tennis player from Japan, has been open about diversifying her investments in cryptocurrency after noticing the hype around Dogecoin (DOGE), which was primarily led by Elon Musk. In a recent Bloomberg interview, Osaka revealed that she has been in talks with her agent about cryptocurrencies after reading about Dogecoin and its