Novogratz is bullish. Photo: Getty Images for Friends of Hudson River Park Mike Novogratz, once a partner at Goldman Sachs who went on to be a hedge fund manager at Fortress Investment Group, has found his biggest financial success in cryptocurrency. Now the billionaire founder and CEO of Galaxy Digital, Novogratz is building his own crypto-focused… Source link

Shutterstock Dogecoin and other cryptocurrencies sank on Thursday after Elon Musk suspended bitcoin payments for Tesla cars. The meme-inspired digital asset tumbled 20% to trade around 40 cents. Litecoin fell 14%, while Ripple’s XRP and Ethereum’s ether lost 11% – having each dropped more than 20% from their peaks. Bitcoin dropped as much as 15% on Thursday, prompting a knock-on effect for other digital currencies, as the entire crypto market value wiped off as much as $365 billion at… Source link

Corrections over the last 24 hours notwithstanding, Litecoin, the silver to Bitcoin’s gold, has been consolidating its position in investors’ portfolios for quite some time now. After oscillating in the $40 to $60 price bracket for a few months in 2020, Litecoin managed to break its monotonous trend and gradually picked up momentum on the back of Bitcoin and Ethereum’s price performances. At the time of writing, the alt was trading around the $330-mark. Source: Glassnode From… Source link

Updated May 13, 2021 9:10 am ET Here’s what we’re watching ahead of Thursday’s opening bell. U.S. stock futures edged up, pointing to a muted recovery on Wall Street after worries about inflation pushed the S&P 500 to its biggest three-day loss since October. Futures tied to the broad stocks gauge were up 0.2%. Contracts linked to the Dow Jones Industrial… Source link

Bitcoin and cryptocurrency markets plummeted by around $300 billion overnight before slightly rebounding after Tesla billionaire Elon Musk and ethereum co-founder Vitalik Buterin sent shockwaves through the sector. The bitcoin price briefly dropped under the closely-watched $50,000 per bitcoin level before climbing back above it, while dogecoin, a meme-based cryptocurrency that’s exploded in popularity over recent months, led the crypto market lower with a 10% price drop. The sharp fall… Source link

Ethereum Ethereum fell by 8.45% on Wednesday. Reversing a 5.83% gain from Tuesday, Ethereum ended the day at $3,826.55. A mixed start to the day saw Ethereum rise to an early afternoon intraday high and a new swing hi $4,384.43 before hitting reverse. Ethereum broke through the first major resistance level at $4,322 before sliding to a late intraday low $3,700.00. The extended sell-off saw Ethereum fall through the first major support level at $3,899 to end the day at sub-$4,000 for the first… Source link

Technical analysts weigh in on where bitcoin prices will head next. (Photo Illustration by Thiago … [+] Prudêncio/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Bitcoin prices experienced some notable volatility today, dropping below $50,000 following a highly visible tweet from Elon Musk and then recovering. The digital currency plunged more than 15% between roughly 6 and 8 p.m. EDT, reaching $46,294.72, according to CoinDesk data. … Source link

Vitalik Buterin, Ethereum’s co-founder © 2017 Bloomberg Finance LP Ethereum co-creator Vitalik Buterin has moved $1.3 billion worth of ether, almost all of his holdings, from his main public address to a separate wallet.  Buterin disclosed his main ether address in October 2018, and until approximately six hours ago, the wallet held more than 320,000 ether, the blockchain’s native cryptocurrency. Then, at 1:18 PM EST the ethereum inventor transferred 325,001 ether to a Source link

Ethereum (CRYPTO:ETH) and Ethereum Classic (CRYPTO:ETC) are two cryptocurrencies running on the Ethereum blockchain. Ethereum Classic is the old version of Ethereum that executed smart contracts with a Proof-Of-Work platform. Following a hack on the platform, Ethereum worked on the code to switch the execution of smart contracts from Proof-Of-Work to Proof-Of-Stake to avoid another hack in the future. Below is a technical look at the charts. See Also:… Source link

Just weeks after Tesla started accepting Bitcoin as currency for cars, Elon Musk revealed in a tweet that it will “suspend” the effort. According to the release (Tesla does not appear to have a functioning press office), the company is “concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions.”  A study last year estimated bitcoin mining used 7.46 GW of electricity on average, and the same study puts the number right now at 16.71 GW. That would represent… Source link