For most casual digital asset investors, the Ethereum 2.0 upgrade promises to be a game-changing event that will improve efficiency, reduce network costs and propel the entire blockchain and crypto space closer to a Web3 reality. Ethereum has been struggling with a lack of scalability and skyrocketing gas fees, and since it serves as the largest smart contract and DApp development platform, the move to a more reliable and scalable proof-of-stake (PoS) blockchain will be a welcome… Source link

Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin’s sell-off Terra’s UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows. Daily cryptocurrency market performance. Source: Coin360 Despite the significant correction that occurred over the past week, Bitcoin (BTC) bulls have managed to claw their way back to the $30,000 zone, a level which has been defended multiple… Source link

This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains. During its worst moment, the total market crypto market cap faced a 39% drop from $1.81 trillion to $1.10 trillion in seven days, which is an impressive correction even for a volatile asset class. A similar size decrease in valuation was last seen in February 2021, creating… Source link

Momentum signals remain negative on the daily, weekly and monthly charts, which typically leads to a period of low or negative returns. Further, BTC is on track for its first-ever consecutive seven-week decline, according to Coinbase price data provided by TradingView, dating back to 2014. That’s also a sign of negative price momentum. Source link

It has been a rough week for the cryptocurrency market, primarily because of the Terra ecosystem collapse and its knock-on effect on Bitcoin (BTC), Ethereum (ETH) and altcoin prices, plus the panic selling that took place after stablecoins lost their peg to the U.S. dollar. The bearish headwinds for the crypto market have been building since late 2021 as the U.S. dollar gained strength and the United States Federal Reserve hinted that it would raise interest rates throughout the… Source link

Bitcoin hits intra-day high above $30,000 TerraUSD collapse shakes crypto market Analysts say impact on traditional markets limited HONG KONG/LONDON/NEW YORK, May 13 (Reuters) – Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader… Source link

Ethereum (ETH -3.43%) has long played second fiddle to Bitcoin (CRYPTO: BTC) in the crypto world, despite the fact that many of the most exciting innovations in the crypto space (including the creation of NFTs and smart contracts) actually originated on the Ethereum blockchain. According to market capitalization, Bitcoin is still nearly twice as large as Ethereum, and many casual investors may keep a close eye on the price of BTC but seem to pay little or no… Source link

In traditional markets, the Dow Jones Industrial Average fell for a sixth straight day, and the S&P 500 took a 19.4% hit from its high of 4,800 in January. The S&P 500 is now at 3,868, and according to a popular rule of thumb used by investors, a dip of 20% or more signals the start of a bear market. Source link

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