Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has once again halted block production…
A bill seeking to ban energy intensive mining for cryptocurrencies like bitcoin was struck down by the Norwegian parliament on May 10. The communist Red Party who authored the bill was supported by both the Green Party and Socialist Left party. The minority also attempted to create an electricity tax for energy intensive cryptocurrency miners. A Bitcoin bill seeking to…
As LUNA’s life support was all but switched off on Friday, BTC and ETH rallied, with prices climbing by as much as 10%. Today’s price surge saw bitcoin climb above $30,000, with ETH once again trading above its $2,000 level. Bitcoin Bitcoin rebounded and was trading higher in today’s session, as markets recovered a bit from sell-offs earlier in the…
Diamonds are some of the world’s most valued gemstones, and the global diamond industry has managed to remain afloat despite being partially eclipsed by the emergence of modern stocks and novel virtual assets. The diamond industry, however, appears to be undergoing a paradigm shift in recent times — incorporating modern technology such as blockchain to improve diamond production, tracking and…
Nomura Holdings, Japan’s largest brokerage, now offers bitcoin-based derivatives. Available derivative contracts are non-deliverable forward and options, as well as futures and options contracts.Nomura’s economic consulting arm Nomura Research Institute launched a crypto-asset index in 2020. Nomura Holdings Inc, Japan’s largest brokerage and investment bank, began trading bitcoin derivatives contracts to its Asian clients after a rise in institutional demand…
Decentralized finance (DeFi) is a complex and rapidly developing industry, full of experimentation and innovation, and building on the philosophical and ideological foundations of a more efficient, censorship-resistant, and open decentralized financial system. Algorithmic stablecoins exemplify these traits; part monetary economics, part financial markets, part mathematics, and part technology. Sitting at the intersection of money and blockchain technology, they are…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In a previous issue, we highlighted that based on the level of realized losses, unrealized losses and capitulation trends in the…
Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout. ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally. The huge upside retracement appeared in the wake of similar price action in the crypto market with top cryptos…
The ECB released another working paper on the digital euro, providing an extensive technical analysis of a potential European CBDC and its position in the existing financial system. Issued on May 13, the working paper aims to study issues like financial intermediation, payment choices and privacy in the digital economy, providing a large number of related algebra-based conclusions. The study…
While crypto markets staged a rebound Friday morning, the MakerDAO governance token, MKR, was up 30% as investors bet on its DAI stablecoin amid Terra’s ongoing collapse. Early Friday, MKR was the eighth-largest DeFi (decentralized finance) token with a market cap of $1.4 billion, according to CoinMarketCap. Meanwhile, DAI had become the fourth-largest stablecoin with a market cap of $6.47…
