Category: Cryptocurrency News

submitted by /u/_ArtosisCurse_ [link] [comments]

Ethereum’s transition journey from PoW to PoS journey could take up to years as it began with the launch of Beacon Chain in December 2020 and has seen several delays on the way.

The upswing in alternative currencies is outshining the top cryptocurrencies. In particular, the MATIC, UNI, and AAVE tokens are doing well, whereas the biggest currency, Bitcoin, is still fighting to keep its position above the $20,000 mark. Polygon (MATIC) skyrocketed on July 14 — the day after it was chosen for the Walt Disney Company’s elite business development program. After this announcement, the value of a MATIC token rose 22.5% to $0.711705, the highest price in a month. Related Reading | Avalanche Notches Solid Mid-Week Bounce – Can AVAX Sustain The Positive Noise? It is the only blockchain network to have ever been selected by Disney. As a result, the native utility and staking token of Polygon, MATIC, recovered more strongly than most of its competing digital assets. MATIC price is currently at $0.693640, up 9.2% over the previous 24 hours and 46.7% for the previous 14 days. According to CoinGecko statistics, the coin is down 76.4% from its ATH of December 27, 2021, which was over seven months ago. On the other hand, $2.46 billion worth of transactions has taken place in the past 24 hours, representing a huge rise of 31.46%. While Aave (AAVE), 46 largest currency, is currently trading at $92.47 and has increased by 16.4% over the past day and by a sizable 63.4% over the past 14 days. AAVE has been climbing since it recovered from a falling support line on June 18. Where some of the leading altcoins experience a volatile trading session, Uniswap (UNI) is up a stunning 12.4% for the day. The current Uniswap price is $7.06, with a 24-hour trading volume of $701.54 million, up by 22%. Bitcoin Is Retaining Its Level Of Attention BTC gained a new level of attention at under $21,000. The cryptocurrency market is beginning to recover, as shown by BTC, which is currently up 4.3% in value and trading at $20,807.69. In addition, a new 40-year high in U.S. inflation, as measured by the Consumer Price Index (CPI), has caused the price of bitcoin to increase from its lows. Well, there are indications that Bitcoin is stabilizing. However, after rising as high as $22,000 less than a week before reversing course, BTC is still desperately trying to hold its position above the crucial $20,000 level. Related Reading | A Breakout Above This Level Could Help Polkadot Recover On Chart Investors are worried that because inflation is still extremely high and the Federal Reserve is trying to combat it by raising interest rates, which reduces economic demand, it won’t be able to prevent a recession. Furthermore, an economic downturn would not be favorable for riskier investments, including Bitcoin and other cryptocurrencies. Along with macro factors, the problems in the cryptocurrency industry itself have made the price declines worse. The state of the crypto market is already severe. The cost of bitcoin has recently come off of its worst quarter in more than ten years, but it is still trading 70.7 % below its all-time high, set in November 2021. Featured image from Flickr, chart from Tradingview.com

Don't get me wrong, I'm bullish on Polygon and I'm bullish on Ethereum. Polygon was the only blockchain chosen by this accelerator program and it's huge. This is going to bring a ton of eyes to web3 and is going to be doing a ton towards the goal of mass adoption. Polygon is up by…
Read more

The U.S. climb the rankings to join Germany at the summit as progressive regulations and institutional adoption drive cryptocurrency use in both countries.

Bitcoin price recovers 11% from the week’s lows as one trader targets $21,700 next.

I see a lot of people doing crazy shit, like suggesting to store your seed phrase in bank vault with fireproof capsule and never ever storing it online. What's the downside of writing seed phrase in safe airtight environment into a .txt file and encrypting it say with password protected WinRAR archive (SHA-256) using a…
Read more

European Central Bank researchers anticipate a clash between the green transition policies and Bitcoin investors.

While a classic technical indicator could be hinting at BTC price falling below $13,000 as well.

The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end of 2023. A Safer Crypto Ecosystem […]