Category: Cryptocurrency News

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

After BlockFi declared bankruptcy today, it's time to take a closer look at Nexo. Nexo 10% “Yields“ As you can see Nexo is paying 10% on stablecoins. Where does this yield come from? If the yield is greater than the “risk free” market rate, they are by definition taking directional risk to chase said “yield“.…
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submitted by /u/liquidocelotYT [link] [comments]

Crypto database shows that most firms are venture capital at 52.8%, followed by hedge funds with 44.3% and then private equity and mutual funds at 2.9%.

“We’re looking to support teams building innovative open-source infrastructure that can accelerate the blockchain gaming space and foster collaboration,” wrote Game7 in its FAQ.

If the first part of the above headline about Bitcoin price had your heart pumping, it might be time to reduce the amount of leverage you are using. No, we aren’t calling for BTC to reach a target of $1,000 – we are instead looking back and celebrating the nine-year anniversary of the first time Bitcoin breached above $1,000. Nine Years Ago: BTC Breaks Above $1,000 Bitcoin is now in the midst of its fourth ever bear market and currently trading at a price of around $16,000 per coin. After the dramatic fall from $69,000 in late 2021 to current levels, sentiment has taken a beating. It isn’t unusual to see targets on crypto Twitter for $1,000 BTC in the days ahead. Today, however, we aren’t as focused on future targets for the top cryptocurrency, but the long journey Bitcoin has had from when it first passed $1,000. Related Reading: Bitcoin Price Prediction: This Scenario Will Trigger A Fresh Drop Nine years ago from yesterday, on November 27, 2013, BTC breached above $1,000. The level proved to be significant at the time, with BTCUSD trading above $1,000 for less than ten days before the 2014-2015 bear market started. From that point on, it was more than 1000 days before Bitcoin passed $1,000 again. But when it passed it again, Bitcoin became a household name. Bitcoin breached $1,000 exactly nine years ago yesterday | Source: BTCUSD on TradingView.com Where To Next: $1K or $1M Per Bitcoin? $1,000 per BTC was significant for several reasons. It was a large, rounded number in US dollars, but 1 BTC was almost exactly the same price of an ounce of gold at the time. After breaching above $1,000 a second time, Bitcoin went on to climb just under 2,000% to nearly $20,000 per coin. Today, five years later, BTC is below the 2017 bull market peak. Related Reading: Bitcoin At $1M By 2030: Why Cathie Wood Remains Confident In Bold Bet From the $1,000 milestone to current prices at around $16,000 per BTC, the top cryptocurrency still has more than 16,000% ROI its held onto. From its inception, it has gained more than 150,000,000% cumulatively. Despite this, there are equal calls for a revisit to the $1,000 level as there are for Bitcoin reaching $1 million per coin, making BTC the most interesting speculative asset of all-time. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its […]

submitted by /u/rufus2785 [link] [comments]

Dogecoin was down by as much as 10% to start the week, as the token retreated from Sunday’s high. The meme coin raced to a three-week high over the weekend, however bulls appeared to have abandoned their positions, opting to secure profits. Xrp, formerly known as ripple, fell for a third straight session on Monday. […]

Many crypto investors are still skeptical about the profitability of Bitcoin mining. This is not surprising considering the growing rate of energy prices in recent times. Moreover, the Bitcoin miners’ revenue has been on a downtrend since November 2020. Related Reading: Ethereum Tries To Keep Luster As ETH Moves To Narrower Trading Range Current Bitcoin Miners’ Revenue Meanwhile, BTC miners are experiencing some downturn in their revenue lately. This situation results from reduced prices and the present bearish state of the crypto market. It’s not overly surprising to miners, seeing that the token’s value against the dollar is going down the drain. As of November 2021, Bitcoin miners recorded the highest revenue ever had. But information from Blockchain.com showed that these BTC miners’ revenue had dropped significantly since its peak surge. The Bitcoin miners’ revenue is now down to its lowest value since November 2020. At the time of writing, the figure stands at a little over $11.67 million. Related Reading: BCH Price: Investors May Not Want To Go Long Yet On BCH – Here’s Why While this downtrend is primarily due to the plummeting price of the BTC token, other metrics also contribute to the occurrence. A noteworthy example is the growing energy prices. Another instance is the decline in the profitable days of Bitcoin. Around 83.40% decline in the profitable days has already been recorded. BTC holders have witnessed approximately 3,738 days of profits since 2015. On the opposite side, Bitcoin holders would have gained little or nothing for about 747 days in the same period. At the time of writing, BTC trades at $16,146 showing a 24-hour change of -1.72%. Working System Of Bitcoin Mining The working process of BTC mining is simpler than it sounds. However, it demands the right understanding from intending and existing miners. Primarily, Bitcoin miners guess a 64-digit number called a hash. In most cases, it’s termed hash mining. Miners depend on powerful computers to quickly guess this 64-digit number (hash). There are about 16 possibilities for every digit in the number. They consist of digits 1 to 10 and letters A to F. Generating a guess involves rolling a die having 16 sides 64 times. This action alone only generates one guess. Miners still have many more possible answers, and this is where they need their mining systems. These computers roll the 16-sided die at a very high speed with lots of computer energy. The reward for mining goes to the miner who first arrives at the right hash – adding a block to the Bitcoin blockchain. The continuity of this process and the price of BTC add up to the revenue of these BTC miners. Featured image from Pixabay, chart from TradingView.com