The cryptocurrency market is experiencing a deja vu, thanks to DeFi, a backronym for decentralized finance. The performance of every token listed under the said brand name is looking insanely bullish in 2020. It is very similar to how native tokens of a long string of initial coin offering (ICO) projects appeared in 2017. People…
The pace of gains in DeFi is crazy. Also known as Decentralized Finance, the DeFi sector is booming in anticipation that it would change the way people look at finance. Instead of a prominent banking corporation sitting in the middle of a borrower and a pile of cash, one has an automated protocol governing the…
The week began on a very negative note for the cryptocurrency industry. Matic, one of the first tokens issued via Binance Launchpad, witnessed one of the harshest crypto crashes. It plunged by up to 70 percent within a matter of two hours. The wild downswing led social media to scream price manipulation, with noted market…
Stellar is leading the gains in the cryptocurrency market on Tuesday as the blockchain project swells by 18 percent in market valuation. A back-to-back buying session has brought XLM, Stellar’s native token, up by more than 30 percent since yesterday. The XLM-to-dollar exchange rate is now sitting at $0.081, according to data gathered by CoinStats’…
The market valuation of Craig Wright’s controversial blockchain project, Bitcoin SV, lately jumped to its two-month high. The BSV-to-BTC exchange rate climbed up to 20.43 percent on Monday to retest its August 29 high of 0.0143. The pair managed to establish an intraday peak of 0.0140 before correcting lower. On Tuesday, it was down by…
Ripple’s XRP led intraday gains on Monday after rising 10 percent on a 24-hour adjusted timeframe, according to data provided by CoinStats’ cryptocurrency portfolio management app. The third-largest cryptocurrency by market capitalization outperformed the benchmark Bitcoin, as well as the rest of the top altcoins. Bitcoin, in particular, trended in positive territory but its gains…
Researchers have found a strong correlation between benchmark cryptocurrency bitcoin and its spin-off stablecoin Tether, according to a Bloomberg report. Blockchain data forensic firm TokenAnalyst found that Tether’s issuance of fresh dollar-pegged tokens coincided strongly with the bitcoin price rally. On a day, the asset rose by as much as 70 percent right after Tether…
Bithumb Global announced it would work with the Indian Government to launch a regulated Bitcoin exchange. It also showed interests in promoting the cryptocurrency trade among the uninformed Indian investors. Bithumb co-founder and managing director, Javier Sim, announced the company’s further initiatives in the Indian commercial space. The statement implied partnerships with native Indian cryptocurrency…
The newly formed Crypto Rating Council is already facing criticism for its role in categorizing cryptocurrencies. Tyler Gellasch, executive director at Healthy Markets, observed that some members of the council might have stakes in the cryptocurrencies under evaluation. That could unduly influence their assessment of the asset in concern. “A group of private companies jointly…
More and more investors in Asia are exploring opportunities in the cryptocurrency market against the degrading condition of global markets. For example, the ongoing economic war between China and the US, as well as the China-Hong Kong conflicts, have had a significant impact on the financial system. The disputes have sent investors searching for alternative…
