bitcoin

The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price?

The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price?

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets. Institutional interest in Grayscale dries up On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data. GBTC discount versus spot BTC/USD price. Source: YCharts To investors, GBTC has long served as a great alternative to gain… Source link

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This Week in Coins: Ethereum Takes Another Week of Losses, XRP Soars

This week in coins. Illustration by Mitchell Preffer for Decrypt. The prices of crypto market leaders Bitcoin and Ethereum dipped on Wednesday following news that the United States Federal Reserve was hiking interest rates by another 75 basis points to stem the effects of inflation.  Back in June, when the Fed first raised interest rates by 75 basis points this year, many remarked that the hike was the steepest of its kind from the central bank since 1994.  In July, the Fed called another… Source link

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Ethereum’s Vitalik Buterin ‘Very Hopeful’ Dogecoin Moves to Proof of Stake

Now that the Ethereum merge is complete, Vitalik Buterin thinks other blockchains like Dogecoin and Zcash should follow suit.  “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” Vitalik said over video chat at the Messari Mainnet conference on Friday.  “I hope that Zcash moves over. I am also very hopeful that Dogecoin is going to evolve over to proof of stake at some point soon,” he added. Earlier this month, Ethereum executed its… Source link

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BTC, ETH Consolidate Following Week of Intense Volatility – Market Updates Bitcoin News

BTC, ETH Consolidate Following Week of Intense Volatility – Market Updates Bitcoin News

Following what has been a turbulent week of trading, bitcoin prices consolidated to start the weekend. The token rose marginally above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum was also consolidating in today’s session, as prices moved back above $1,300. Bitcoin Bitcoin (BTC) rose marginally above $19,000 on Saturday, as markets continued to digest this week’s heightened level of volatility. Following a low of $18,617.55 on Friday, the… Source link

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Here’s What’s in Store For Ethereum (ETH) Price This Weekend

In the midst of the bearish market cycle, Ethereum (ETH), the second largest cryptocurrency by market cap, has dropped nearly 30% from its September peak of $1,789. Most of the investors and traders expected September to be the most important month of the year for ETH, but the currency couldn’t hold on to the claim. At the time of writing, Ethereum (ETH) is selling at $1,325 with a loss of 1.10% over the last 24hrs. Though the currency didn’t fall at its 2022 lows, ETH’s 30% drop has… Source link

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Was the Ethereum Merge a Mistake?

“What do you think of the merge?” I recently innocently asked William “Wills” de Vogelaere, co-founder of Spankchain and probably half a dozen other protocols in the grisly underworld of Ethereum. I was, of course, referring to the long-awaited software upgrade which booted Ethereum’s miners and replaced them with a cohort of environmentally friendly stakeholders on September 15.  “You mean Ethereum’s delusion?” de Vogelaere rejoined bitterly.  “Oho!” I thought. This could… Source link

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Ethereum Price Prediction – Why ETH Is Ready for the Fightback and You Need to Buckle Up

Ethereum Price Prediction – Why ETH Is Ready for the Fightback and You Need to Buckle Up

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Ethereum is the second most valuable crypto project behind Bitcoin. The protocol enables the development of several decentralised solutions and apps and directly impacts music, gaming, entertainment, and decentralised finance (DeFi). However, it has not enjoyed a smooth sail in this year’s… Source link

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Litecoin price will end in tears this evening as naive bulls get a market lesson

Litecoin price turns negative halfway through the European session as a meltdown in sterling creates ripples in the markets. LTC price will slip below $50 if dollar strength continues towards the US closing bell. Expect to see a negative weekly close with a possible further breakdown over the weekend. Litecoin price (LTC) sees bulls being taken to the cleaners as an early rally gets cut short and turns completely negative. The catalyst appears to have been UK… Source link

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Tracking adoption a year later

El Salvador, the small Central American nation that made history just over a year ago when it made Bitcoin (BTC) legal tender, recently marked its first year of BTC adoption. The Salvadoran government touted BTC as a tool to attract foreign investment, create new jobs and cut reliance on the United States dollar in the country’s economy at the time of adoption. Many BTC proponents and the libertarian community rallied behind the small nation despite mounting pressure from global… Source link

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