Bitcoin / 629 posts found
E-commerce Giant MercadoLibre Launches its Own Cryptocurrency MercadoCoin in Brazil
Bitcoin On August 18, MercadoLibre Inc, a multinational e-commerce company based in Latin America, announced the creation of a new cryptocurrency called MercadoCoin, which will be implemented in its loyalty program. As reported by Reuters, the cryptocurrency will run on the Ethereum network as an ERC-20 token priced at $0.10 each. It will be used primarily for cashback and purchases inside MercadoLibre’s platform. The developer team also hinted at opening the token to the secondary market at some point, but did not elaborate on the idea: “MercadoLibre’s cryptocurrency will be initially valued at $0.10 apiece before being open to market […]
Vitalik Buterin and Ripple’s CTO Engage in Twitter Spat Over XRP
While Ripple execs claim that the company has been unfairly treated by the SEC, Ethereum frontman Vitalik Buterin hasn’t been exactly silent either. In a fresh jibe, the latter accused the former of throwing Ethereum under the bus as “China-controlled.” The latest feud also started with a discussion of new regulatory changes in Canada with Ontario-based crypto exchanges – Bitbuy and Newton – imposing a 30,000 CAD annual “buy limit” for “restricted coins” for their users to “protect consumers” amid tightened regulations, except for altcoins – Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). This is when Buterin stepped in and […]
A Crucial Time For Bitcoin Price With FOMC Minutes Release Today
Cryptocurrency On July 27th the Federal Reserve held its Federal Open Market Committee meeting and today around 2pm EST the minutes of the meeting are said to be released. Now, with a decreased inflation rate, the market is hopeful that the Federal Reserve might slow down on its increased interest rates, yet nothing is clear. While the global market awaits the release of FOMC minutes, it’s been reported that Bitcoin withdrawal on the exchanges are seeing a rise. The Bitcoin price which was trading around $24,000 for most of the weeks, has now declined towards $23,000 level. The upcoming US […]
Bitcoin Price To Rise Or Fall? Here Is What Market Participants Expect
On August 15, the Bitcoin price touched $25,000 before sliding down towards the $24,000 range. Since then, the flagship currency has been facing a ‘pendulum’ price action movement. While market participants remain hopeful of an uptrend, the price stands on shaky grounds at the moment. Previously, Bitcoin critic Peter Schiff had predicted that the flagship currency was about to crash because he believed that the bearish market would pull down BTC all the way to the $10,000 level. Just to put the #Bitcoin rally into perspective, take a look at this chart. The pattern remains very bearish. There’s both a […]
Celsius Lost Over $100 Million In Grayscale Bitcoin Trust Trade: Financial Times Report
Cryptocurrency Summary: Celsius CEO Alex Mashinsky took over the company’s trading strategy in January 2022. Mashinsky assumed a more active role in trade decisions ahead of the FOMC meeting at the start of the year. The report explained that Mashinsky was ” slugging around huge chunks of bitcoin”. Financial Times also reported that the crypto lender faced insolvency since March 2022. Ripple has hinted at an interest in acquiring the bankrupt crypto company, per reports. Alex Mashinsky, the CEO of bankrupt crypto lender Celsius, assumed direct management of the firm’s trading strategy shortly before a U.S. Federal Reserve meeting held […]
Bitcoin (BTC) on-Chain Analysis: Lifespan Indicators Suggest Reversal Is Coming
Be[In]Crypto takes a look at Bitcoin (BTC) on-chain indicators, specifically the Spent Output Profit Ratio (SOPR) and the RHODL Ratio. BTC SOPR SOPR is an on-chain indicator that shows if the market is in a state of profit or loss. Readings above one (black line) show that the market is in aggregate profit, while those below one show aggregate loss. The main characteristic of bullish trends is that SOPR bounces at the one line instead of falling below it. SOPR broke down below one (black circle) in Jan. 2018. This suggested that the bullish trend had come to an end. Afterwards, the bottom […]
Kraken Daily Market Report for August 14 2022
Bitcoin Bitcoin Overview Daily spot trading volume: $381.0 million, 30 day average spot: $574.7 million. Total futures notional: $80.1 million. The top five traded coins were, respectively, Ethereum (↓2.4%), Bitcoin (↓0.6%), Tether (↓0.01%), USD Coin (↑0.0%), Solana (↓3.7%). Strong returns from Shiba Inu (↑34%), Chiliz (↑13%), and Dogecoin (↑12%). August 14, 2022 $381.0M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD ETH $1936.22 ↓2.4% $117.4M BTC $24313.60 ↓0.6% $90.0M USDT $1.00 ↓0.01% $68.9M USDC $1.00 ↑0.0% $18.1M SOL $44.86 ↓3.7% $12.6M…
NFTs Embed Crypto Fundamentals in Popular Culture
Depending on when you got into crypto, and to what extent you opted to be a maximalist for a certain cause (most likely either Bitcoin or, later, Ethereum, since these have the most single-minded communities), your initial perception of the sector would have been very different. In the early days, even that word sector would not be an appropriate descriptor, and crypto meant bitcoin. Initially, it was a fringe movement, with all the positives and negatives that being on the fringe consists of. To the good, alternative movements are subversive, disruptive and unlimited in their capacity to ignore convention and […]
