Monthly Archives: April 2021

Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up

Increasing volume and TVL on QuickSwap, along with steady growth in the number of projects joining Polygon have analysts suggesting that MATIC price is undervalued. Recently layer 1 solutions like the Solana (SOL) and Cosmos (ATOM) have grown in prominence thanks to each network’s faster transaction times and lower fees when compared to the Ethereum network. An even greater focus has fallen on layer 2 solutions that can help Ethereum keep up with the competition as it continues its process of switching to proof-of-stake.  One project that has […]

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2 Turkish Crypto Exchanges Investigated for Fraud After Central Bank Bans Cryptocurrency Use for Payments

Two Turkish cryptocurrency exchanges are being investigated by the authorities in Turkey after they abruptly halted trading. The authorities have blocked access to the bank accounts of the second exchange and detained four people so far. Sixty-two people have been detained in connection with the first exchange whose CEO has fled the country. Second Turkish Crypto Exchange Being Investigated Following the alleged exit scam pulled by cryptocurrency exchange Thodex, another crypto trading platform is being investigated by Turkish authorities, the state-run Anadolu news agency said Friday. Vebitcoin, […]

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Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, XMR, CAKE

Bitcoin price remains pinned below $50,000 but the drop in BTC dominance could propel ETH, BNB, XMR and CAKE higher over the short term. Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in Bitcoin (BTC) from its all-time high at $64,849.27 does not seem to have scared novice traders.  Data from DappRadar shows that decentralized exchange volumes have picked up in the last week as traders may […]

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‘Nothing Goes up in a Straight Line’- S2F Creator Plan B Claims Bitcoin Price Drop a ‘Mid-way Dip’

Bitcoin prices have dropped below the $50k region during this week’s trading sessions sinking to a low of $47,555 on Friday. The popular creator of the stock-to-flow (S2F) bitcoin price model, Plan B has discussed the recent price dip and stressed that “nothing goes up in a straight line.” Plan B believes this price drop might be a “mid-way dip,” similar to the crypto bull runs in prior years. ‘Looks Like the Mid-way Dip,’ Says Plan B During the first week of March, Bitcoin.com News reported on […]

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Why Are Athletes Demanding To Be Paid In Bitcoin?

What’s factoring into the growing trend among professional athletes and sports teams to use bitcoin as a means of exchange? The Sacramento Kings of the National Basketball Association (NBA) recently made headlines when their owner Vivek Ranadive announced that in the near future, anyone in the organization (players, coaches, and staff members) who wants to will be able to receive a portion (or all) of their salary paid in bitcoin. Soon, any player on the Kings who wants to be paid In bitcoin will easily be able […]

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Bitcoin dominance teeters at 50% as ETH, altcoins gain traction

The Bitcoin dominance index has collapsed by 20 percentage points since the start of 2021. ETH, BNB and more speculative altcoin bets have seen their dominance rise over the same period. Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins were on the rise. The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, according to CoinMarketCap. At […]

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Ripple’s Chris Larsen Believes Bitcoin Dominance Could Fall Over Proof-of-Work’s Energy Consumption

Ripple Labs cofounder Chris Larsen has a bone to pick with bitcoin and crypto networks that leverage proof-of-work (PoW). Larsen’s latest write-up explains that the crypto industry needs to reconsider PoW because of the effects on the environment. The Ripple executive believes that other types of consensus algorithms have been effective at being secure while only “using a tiny fraction of the energy.” Ripple Cofounder Believes Crypto Networks Leveraging Proof-of-Work Should Consider Alternatives While the global economy struggles after a year of Covid-19 lockdowns and business shutdowns, […]

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The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining

To establish an interplanetary economy, humanity needs a better financial system that decentralized cryptocurrency can offer. Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into Bitcoin (BTC) in early February. Musk’s Bitcoin purchase startled traditional investors, who now had to understand how their investment in Tesla would relate to Bitcoin. Currently, much of Tesla’s revenue comes from selling surplus renewable energy credits, or RECs, which […]

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Discovering financial literacy: Crypto leads retail investment charge

From interest to literacy, crypto appears to be at the heart of the emerging increase in financial education among retail traders. Momentum trading driven by retail investors seems to have taken on a new life since the onset of the global standstill occasioned by the ongoing coronavirus pandemic. Where celebrity challenges used to dominate viral trends on social media, issues relating to personal finance and investments seem to be as popular these days. This increasing interest in the financial markets from workaday folks has also spread to […]

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Bittorrent Creator Bram Cohen’s Crypto Project Chia Sparks Hard Drive and SSD Shortages

On May 3, tokens stemming from the Chia network, a smart transaction blockchain created by the Bittorrent creator Bram Cohen, will start trading and transactions will be fully enabled. Rather than leveraging the proof-of-work consensus algorithm, Chia will utilize a model called proof-of-space which relies on storage. With Chia’s transactional launch pending, the project has sparked shortages over the demand for hard drives and solid-state drives (SSDs). Chia Network Fuels High-End Hard Drive and SSD Shortages Bram Cohen, the inventor of the popular torrenting application Bittorent has […]

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