What happened  As investors sell off stocks broadly, the “risk-off” trade has made its way to cryptocurrencies. The market has been down sharply since just before the trading opened Thursday, and that’s when a sudden crash hit crypto.  As of 3:30 p.m. ET, the value of Dogecoin (DOGE -3.62%) had fallen 5.4% over the prior 24 hours, Ethereum (ETH -4.97%) was down 7.8%, and The Sandbox (SAND -3.68%) was down 11.8%. Ironically, early Thursday morning, values were up by nearly… Source link

In less than 24 hours, the “relief rally” for cryptocurrencies following the Federal Reserve’s meeting has been erased. Unable to crest its key $40,000 price point during Wednesday’s rally, bitcoin tumbled more than 9% between 9 and 4 p.m. New York time Thursday from $39,500 to $36,300 per coin. Ether (ETH) sold off by 7% on the day from $2,939 to $2,741. The Nasdaq and S&P 500 are trading 5% and 3.5% lower. The slide in risk assets follows what analysts and traders anticipated… Source link

Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has lost 9.72% to $201.16. InvestorsObserver is giving Monero a 35 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero! Moderately Volatile InvestorsObserver gives Monero a moderate volatility rank of 35, placing it in the bottom 35% of cryptos on the… Source link

Over the past 24 hours, Litecoin’s LTC/USD price has fallen 5.19% to $97.52. This continues its negative trend over the past week where it has experienced a 6.0% loss, moving from $104.03 to its current price. The chart below compares the price movement and volatility for Litecoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are,… Source link

Despite bouncing from a 45-day low on April 30, Ether (ETH) price is still stuck in a descending channel and the subsequent 9% gain over the past four days was just enough to get the altcoin to test the pattern’s $2,870 resistance. Ether/USD price at FTX. Source: TradingView Federal Reserve monetary policy continues to be a major influence on crypto prices and this week’s volatility is most likely connected to comments from the FOMC. On May 4, the United States Federal Reserve raised its… Source link

In 2015, a group of crack blockchain developers unleashed the world’s first blockchain for smart contracts: Ethereum. Their creation now hosts decentralized finance applications worth over $100 billion dollars. But although it’s achieved much success in its seven-year history, Ethereum has become relatively expensive to use and struggled to become scalable. Thus, rival developers have slung their rifles over their shoulders, taken aim at Ethereum, hummed “Fly Me to the Moon” and squeezed… Source link

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime … Source link

Bitcoin moved closer to $40,000 during Thursday’s session, as traders continued to react to yesterday’s Fed rate hike. The FOMC opted to increase interest rates by 0.5% during May’s meeting, which is the largest hike in over twenty years. Bitcoin Bitcoin rose for a second consecutive session on Thursday, as bulls were buoyed by the Fed’s decision to increase interest rates. Following yesterday’s surge, BTC/USD climbed even higher during today’s session, as it moved closer… Source link

Text size Bitcoin prices were heading lower before rallying on Wednesday. Rutmer Visser/Dreamstime The price… Source link

Monero has revealed plans for an important tail emission upgrade aimed at network improvement. The upgrade highlights some key considerations including measures that will prevent inflated fees while also boosting security. The announcement which was made through Twitter revealed that the upgrade will be rolled out in block 2,641623. The tail emission will introduce a 0.6 XMR reward that will be distributed to miners for every minted block. This is contrary to the Bitcoin approach which will… Source link