Bitcoin (BTC) extended its price drop on April 7 amid warnings that excessive long positions needed to be flushed out to allow for fresh gains. BTC price barely clings to $56,000 support Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new local lows of $55,760 during Wednesday trading. A second day of more substantial losses for
Ethereum
In the waters off Hong Kong International Authorities on April 2, Hong Kong Customs detected suspicious figures offloading cartons from a fishing boat to a nearby speedboat. While the men successfully fled, the authorities reportedly detained the fishing vessel and found there a large batch of apparently smuggled goods: everything from dried shark fins and
According to decentralized finance (DeFi) ecosystem tracker DeFiLlama, early this morning the DeFi ecosystem breached $100 billion in total value locked for the first time — rising 7% from $94.7 billion yesterday to $101.33 billion at the time of publication. Aside from the psychologically significant 9th digit, the figure is notable both for the speed
Automated market maker exchange Bancor has rolled out a new mechanism that allows users to increase their capital efficiency while providing liquidity in its pools. Called Vortex, the solution allows users providing liquidity in BNT, Bancor’s utility token, to borrow funds while continuing to obtain yield from swap fees. The Vortex mechanism reworks the existing
The total crypto market capitalization reached the important milestone of $2 trillion on April 5. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to neglect it. Less than three months ago, the crypto market had reached the $1 trillion in market cap
In the last two months, the number of cryptocurrencies with a $1 billion market cap has doubled since the last time Cointelegraph reported on the milestone. As things currently stand, there are 100 projects that have reached a $1 billion market capitalization. Unicorns are typically privately held startup companies valued at more than $1 billion,
Via his Twitter handle, the CEO of subscription-based retail platform Shopify Tobi Lutke revealed that he has started “dabbling” with Ethereum. Specifically, Lutke stated that he has explored the decentralized finance sector and smart contracts on Ethereum for the purpose: Mainly to understand how ERC20 works better. Fascinating world. With approximately 500,000 active “stores”, 1
Crypto’s march towards mainstream adoption takes another significant step forward as the CEO of an e-commerce giant is publicly pondering how to integrate his company with the decentralized finance (DeFi) ecosystem. On Friday night, Shopify CEO Tobi Lutke posted a Twitter message asking the DeFi community what “role” Shopify could play in the growing financial
To function effectively, society has long depended on people having faith in their institutions. Thanks to the COVID-19 pandemic and wide-ranging failures of leadership, that faith has been tested like never before. Nowhere is the decline in trust more evident than in the financial services sector. In its 2021 Trust Barometer, Edelman found that only
If prices plummet in an illiquid market, how soon before anyone notices? While fungible tokens traded on centralized and decentralized exchanges have significant transparency regarding price movements, nonfungible tokens can be harder to track. Because of their illiquid nature, gauging the sentiment of the overall market market for a project can be difficult — a
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Wes Levitt, head of strategy at Theta Labs. At Theta Labs, Wes works on corporate strategy, marketing and
Ethereum, crypto’s second largest asset by market cap, has broken its previous all-time price high near $2,041 , set on February 19, 2021. Ethereum (ETH) hit a record price high of approximately $2,081 today, according to TradingView data. ETH trades near $2,067 at time of publication. Since its February high, ETH has corrected twice on its
According to a recent research note by JPMorgan, institutional investors have withdrawn about $20 billion from their gold investments since mid-October and during the same time frame, institutional inflows into Bitcoin (BTC) have increased by $7 billion. The bank said, “any such crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin
Conceived as a blockchain ecosystem to launch DeFi and DApss and supported by a 3rd generation consensus protocol, Avalanche has recorded one of its best weeks since its launch. The fundamentals of its native token AVEX remain strong and as it gains more attention in the crypto space, it looks poised for another rally. Ava
In an interview for The Delphi Podcast, billionaire Mark Cuban talked about his experience with cryptocurrencies, the current state of the market, and the reasons behind his bullish perception of Bitcoin and Ethereum. For Cuban, cryptocurrencies and their applications are the next evolution of the internet. Claiming that Bitcoin has “taken money away” from gold
The price of Ethereum (ETH) is continuing to rally, reaching $2,000 on April 2 on the back of strong technical momentum following a high-profile announcement from Visa. As Cointelegraph previously reported on March 29, Visa will allow its partners to use USDC on the Ethereum blockchain network to settle transactions. Since then, the interest in Ethereum