Bitcoin

El Salvador updates Sign up to myFT Daily Digest to be the first to know about El Salvador news. As the cryptocurrency bitcoin became legal tender across El Salvador this week, a long queue formed at a cash machine on the edge of the capital. Those in line were mostly after one thing: US dollars. Many waited to convert the $30-worth of free bitcoin given to them by the Salvadoran government into hard currency, but the cash dispenser stopped working. An official admitted that just three… Source link

Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows. As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May. Time for another Bitcoin “sell-side liquidity crisis?” As of Thursday, the latest date for which figures are available, there was 2.399 million BTC available across major exchanges. May’s low measured 2.390 million. Bitcoin traders have thus… Source link

Sweden’s Riksbank Governor Stefan Ingves said ‘private money usually collapses sooner or later’. Photo: Getty Images Cryptocurrencies were broadly down on Friday as Sweden’s central bank governor said bitcoin could eventually collapse. Bitcoin (BTC-USD) was down roughly 1%, to trade at $45,918 (£33,090) while Ethereum (ETH-USD) tumbled 4.5% to trade at $3,373. Bitcoin, hit by regulatory crackdowns and concerns over the environmental impact of mining it, had fallen below $50,000, after… Source link

Check out what’s clicking on FoxBusiness.com. Bitcoin was trading 1.02% lower on Friday morning. The price was around $45,910 per coin, while rivals Ethereum and Dogecoin were trading around $3,370 (-4.62%) and 24.6 cents (-4.46%) per coin, respectively, according to Coindesk. Bitcoin is still recovering following Tuesday’s plunge from nearly $53,000 to $43,119 at its low and after a higher day Thursday, which saw the crypto rise 1.02%, the report said. BITCOIN TUMBLE TRIPS UP COINBASE,… Source link

“The biggest upside potential is in the application domain of digital assets,” Lykke said, referring to the fund’s third-largest holding in the Polkadot blockchain’s DOT token, which rallied about 50% over the past month, compared to a 3% rise in bitcoin during the same period. Source link

While Bitcoin is regarded as the king of cryptocurrency, it doesn’t beat out Ethereum in every metric. With a robust ecosystem of decentralized finance (DeFi) protocols, play-to-earn blockchain games, and NFTs, Ethereum’s blockchain handles about 5 times the daily volume of Bitcoin. As a metric of success, generating fees is a double-edged sword. For one, fees show the demand for a blockchain network. If the network were to have less active users, it’d generate less fees. There’s also… Source link

Bitcoin and other cryptocurrencies can be among the most volatile securities trading today. A safer way to invest in cryptos and blockchain-technology companies is through exchange traded funds. The Amplify Transformational Data Sharing ETF BLOK is, by far, the largest ETF focused on cryptocurrencies and companies that use or develop blockchain technology. It has $1.3 billion in assets and is actively managed. The second-biggest ETF in the space is the Siren Nasdaq NexGen Economy… Source link

Bitcoin (BTC) speculators have been selling at a loss, and this week presents a golden buying opportunity, analysts say. Data shows Bitcoin’s spent output profit ratio (SOPR) flipped negative for the first time in six weeks on Wednesday. SOPR says “buy the dip” A classic buy signal, negative SOPR implies that sellers have been dumping BTC at a loss, and the oversold market, therefore, is ripe for longer-term hodlers to profit from cheap coins. The last time SOPR went negative was July 20,… Source link

A sharp sell-off across the cryptocurrency market on Tuesday — that saw top tokens Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Solana (SOL) fall by double-digital percentages — created a venue for stablecoins to prove their worth. The fixed-price cryptocurrencies offered interim protection to traders from the notorious crypto price volatility. They did so by almost maintaining their one dollar-peg and offering sufficient liquidity to traders who looked for a safety net during the market… Source link

Text size Dreamstime Bitcoin was trading down slightly on Wednesday, stabilizing… Source link