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The amount of bitcoin being held across all exchanges fell sharply last week, a sign that based on past experience was taken a positive for the bitcoin market.  But the changing dynamics of the market show that as the crypto market grows bigger, relying on just one or two metrics can’t always reveal the full story of what’s going on. Data from blockchain data firm Glassnode shows that the balance of bitcoin on all exchanges fell 4.1% to 2.48 million from 2.587 million in the last four… Source link

When most people think of crypto, they think of Bitcoin. Many people are missing out on the opportunities that come with investing in alternative cryptocurrencies, such as Litecoin, which is often referred to as the ‘silver’ to Bitcoin’s ‘gold’.   Litecoin is based on the Scrypt algorithm. This algorithm performs calculations that are less complex than those performed by Bitcoin’s SHA-256 algorithm. Because it requires less computational… Source link

Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion.  In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term risk setups sold the Ether top to… Source link

Ethereum Ethereum rose by 0.86% on Sunday. Following a 2.84% gain on Saturday, Ethereum ended the week up by 16.53% to $2,555.43. A mixed start to the day saw Ethereum fall to an early morning intraday low $2,511.5 before making a move. Steering clear of the first major support level at $2,452, Ethereum rallied to a late intraday high $2,699.00. Ethereum broke through the first major resistance level at $2,585 and the second major resistance level at $2,636. A late pullback, however, saw Ethereum… Source link

Aug 2nd 2021 THE RECENT expansion of the crypto-universe is a thing of wonder. Only a year ago there were about 6,000 currencies listed on CoinMarketCap, a website. Today there are 11,145. Their combined market capitalisation has exploded from $330bn to $1.6trn today—roughly equivalent to the nominal GDP of Canada. More than 100m unique digital wallets hold them, about three times the number in 2018. Holders have become more sophisticated and deep-pocketed, too. Institutions account for 63%… Source link

Monero’s (XMR) Momentum Shift Monero developers have discovered a bug that circumvents their privacy algorithm. Funds spent within 20 minutes of receiving tokens could bypass the privacy function. Monero built its reputation as a private cryptocurrency that preserves user anonymity. Privacy coins are challenging the power of monetary circulation in lieu of the requisites of centralized institutions. Cryptocurrencies such as Monero and Zcash have been banned in certain sovereign states… Source link

When the Nigerian government suddenly banned access to foreign exchange for textile import companies in March 2019, Moses Awa* felt stuck. His business – importing woven shoes from Guangzhou, China, to sell in the northern city of Kano and his home state of Abia, further south – had been suffering along with the country’s economy. The ban threatened to tip it over the edge. “It was a serious crisis: I had to act fast,” Awa says. He turned to his younger brother, Osy, who had begun… Source link

Excitement is building around ethereum staking. Dado Ruvic/Reuters Bitstamp’s CEO has been “blown away” by the amount of interest in ether staking, he told Insider. Bitstamp is one of many exchanges to have added ether staking, amid excitement around ethereum 2.0. Staking is when users put up tokens to gain the right to validate transactions and earn more crypto. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The CEO of crypto exchange Bitstamp has been… Source link

Bitstamp’s CEO has been “blown away” by the amount of interest in ether staking, he told Insider. Bitstamp is one of many exchanges to have added ether staking, amid excitement around ethereum 2.0. Staking is when users put up tokens to gain the right to validate transactions and earn more crypto. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. … Source link