Galaxy Digital CEO Mike Novogratz doubts the future of dogecoin. The billionaire investor said that “It likely doesn’t have long-term legs because no institution is buying it and at some point, retail will lose interest.” Novogratz Says Dogecoin ‘Doesn’t Have Long-Term Legs’ Michael Novogratz, CEO of Galaxy Digital Holdings Ltd., recently discussed with Goldman Sachs
The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for
Technical analysis, the study of chart patterns, is a tool that helps traders increase their edge over others. This is done by keeping the trader on the right side of the trend and providing warnings when the trend is about to reverse. There are many indicators and patterns that can accomplish this task but there
On a day in which Bitcoin crashed briefly to $30,000 in a rampant bear market, the leading cryptocurrency never got anywhere close to that on Korean exchanges. The so-called “kimchi premium” saw to that, keeping the price of Bitcoin as much as $5,000 above its level on leading U.S. exchanges. The major reason for this
The recent tumultuous price action for cryptocurrencies seems to be providing ample opportunity for popular anti-crypto bank HSBC to double down on its negative stance towards virtual currencies. Speaking to Reuters on Monday, HSBC CEO Noel Quinn said that the bank was not interested in running a crypto trading desk or offering cryptocurrency-related investment packages to
With the hindsight of today’s perspective on Bitcoin’s (BTC) exorbitant energy consumption, it might come as something of a surprise to learn that the international non-governmental environmental organization Greenpeace was one of its earlier adopters. Back in 2014, the organization set up a facility for accepting Bitcoin donations, yet this enthusiasm has now cooled, as widespread attention has
In the aftermath of the Mid-May crypto market sell-off, gold has seen significant price recovery. Gold prices continued to inch higher on Tuesday, hitting $1,887 per ounce at 3:00 am EDT, according to data from TradingView. Last week, gold reached its highest price level since Jan. 8 at $1,889, marking a four-month high after gold
Elon Musk captured the world’s attention when he declared that Tesla would no longer accept Bitcoin as a payment method, citing the blockchain’s environmental impact. Although this thrust the debate about cryptocurrencies and the climate into the spotlight, this has been an issue that has been rumbling on for many years. Bitcoin’s proof-of-work consensus mechanism
Ethereum co-founder Vitalik Buterin has posted a lengthy paper on the limits to blockchain scalability, criticizing claims made by Tesla CEO Elon Musk. The article, published on Buterin’s personal blog on Sunday, emphasizes the trade-off between decentralization and scalability in architecting blockchain networks. The article comes in response to Elon Musk’s May 15 tweet asserting that Dogecoin will
The volatility of the cryptocurrency space was on full display again on Monday as several altcoins experienced gigantic price rebounds following the market crash of the past week or so. Two altcoins, in particular, doubled in value in just over 12 hours leading into Monday morning as Polygon (MATIC) and Maker (MKR) recorded over 100%
On Thursday, the price of Ether (ETH) surged from $2,443 to almost $3,000 — a 13.55% climb, according to Coinbase data. The strong intraday upside move appeared a day after ETH’s 27.61% price crash. It thus raised hopes that the second-largest cryptocurrency by market capitalization would eventually recover in the days ahead. But the prices
The cryptocurrency sector has undergone a seismic shift in recent years as retail investors and publicly listed companies make their way into the space. Globally, estimates suggest that the number of crypto users surged by about 190% between 2018 and 2020. Record-breaking inflows into the market have also taken the number of active addresses on
In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization. Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d’etre, and is only popular
Institutional inflows into Cardano (ADA) investment products rose sharply last week even as interest in Bitcoin (BTC) and Ether (ETH) waned, highlighting the growth of proof-of-stake assets amid the latest wave of environmental FUD in the markets. Institutional investment managers bought $10 million worth of ADA products for the week ending on Monday, according to
In the midst of the hectic crypto market, the gas fees in the decentralized finance (DeFi) sector have skyrocketed, once again highlighting the value of layer-two scaling solutions. Cointelegraph Consulting teamed up with Covalent to discover the numbers behind Polygon, the network that is onboarding an increasing number of decentralized applications, from SushiSwap to bZx.
The dichotomy between centralization and decentralization in human history seems to be opposing forces gradually overcoming or being overcome by each other. And while one replaces the other, people are justifying both, finding philosophical or theoretical reasons for the existence of both of them. Centralization In the middle of the 17th century, British philosopher Thomas