XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. This rise in momentum within the crypto market also saw AVAX hit a 12-day high, following a gain of over 11% on Friday. Bullish pressure in XRP intensified on Friday, as prices rose to their highest point in over a…
Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH’s price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in…
FTX, the cryptocurrency exchange led by billionaire Sam Bankman-Fried, has entered negotiations to acquire a stake in the beleaguered crypto lending firm BlockFi, according to a report today in the Wall Street Journal, citing unnamed sources. The acquisition talks come on the heels of BlockFi’s announcement earlier this week that it secured a $250 million line of credit from FTX,…
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. Growth Deceleration To Economic Contraction In today’s issue we present a broad overview of the ever-changing global macroeconomic environment, and finish…
Watch The Episode On YouTube or Rumble Listen To The Episode Here: “Fed Watch” is the macro podcast for Bitcoiners. In each episode we discuss current events in macro from across the globe, with an emphasis on central banks and currencies. In this episode, Christian Keroles and I listen and react to highlights from this month’s two central bank press…
These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a massive gold ore discovery supplied just this kind of fuel. What does the state of gold mining in Africa have to do…
U.S. Federal Reserve Chair Jerome Powell said Congress will eventually receive guidance from the Fed on how it could implement a central bank digital currency (CBDC). Speaking before the U.S. House Committee on Financial Services, Powell said, “I think it’s something we really need to explore as a country,” adding that the prospect of a CBDC’s issuance “should not be…
The luxury fashion brand Salvatore Ferragamo is joining the swelling ranks of designers getting into NFTs. As a part of a new concept store opening in the Soho district of New York City, opening Friday, Ferragamo has installed an NFT booth where customers can create and mint their own Ethereum NFTs from a menu of traits. NFTs are unique tokens…
Bitcoin mining revenue streams are historically very boring. Miners earn money from two sources: subsidies built into the protocol and fees for processing transactions. Sometimes a company will pay miners to put a special message in a block header. Sometimes cryptocurrency exchanges will negotiate fees with pools to reserve block space during times of high network congestion. But these payments…
The last six odd months has seen the cryptocurrency market witness an unparalleled amount of financial volatility, so much so that the total capitalization of this fast-maturing space has dropped from $3 trillion to approximately $1 trillion. This comes after the industry hit all-time highs across the board last November, with Bitcoin (BTC) reaching a price point of $69,000. Despite…
