Markets

Last year, the cryptocurrency faced a downturn, moving in tandem with other high-risk assets, as the Federal Reserve took aggressive measures to combat inflation.

In a recent revelation, Texas has emerged as the dominant force in the Bitcoin mining sector, boasting a staggering 28.5% of the total US hashrate as of July 2023.

In recent financial developments, both Bitcoin and the S&P 500 are poised to conclude the third quarter with a downturn.

The non-fungible token (NFT) market, once hailed as the next big thing in the digital realm, has shown signs of cooling off.

In a widely anticipated move, the U.S. Federal Reserve announced on Wednesday that it would keep its benchmark interest rates unchanged.

The cryptocurrency market has been on tenterhooks as the Federal Open Market Committee (FOMC) gears up to announce its decision on interest rates.

Ether, the native cryptocurrency of the Ethereum blockchain, is currently trading at a significant 27% discount to its perceived fair value.

The stablecoin economy has shown resilience despite a relatively lackluster performance over the past 30 days, with fluctuations slightly above or below the $124 billion mark. In the past 24 hours, the global trade volume for fiat and commodity-pegged tokens reached an impressive $11.55 billion.

Bitcoin, the pioneering cryptocurrency, has recently seen its market dominance rise to 50%, marking a significant shift in the digital asset landscape.

The decentralized finance (DeFi) sector experienced a notable decline in economic activity in August, with trading volumes across DeFi protocols dropping to $52.8 billion, marking a 15.5% decrease from July.

The cryptocurrency world has witnessed a notable reshuffling in the stablecoin sector, with Tether (USDT) experiencing a decline in its market capitalization for the first time in nine months.

As the final quarter of 2023 approaches, the cryptocurrency market is rife with speculation and predictions.

The cryptocurrency market has experienced significant turbulence over the past week, with a rapid decline and subsequent rebound in prices leading to a staggering $256 million in liquidation losses.

In a recent development, the correlation between Bitcoin’s price and its implied volatility has taken a surprising turn.

Michael Saylor, the co-founder of MicroStrategy and a staunch Bitcoin supporter, has drawn attention to a significant gap in the year-to-date returns of the ProShares Bitcoin Strategy ETF (BITO) compared to Bitcoin itself.

In a remarkable revelation that has sent ripples through the cryptocurrency market, Joe Burnett, an analyst at Blockware Solutions, has disclosed that a staggering 94.6% of all Bitcoin has remained stationary over the past 30 days.

In a week that has been nothing short of transformative for the cryptocurrency landscape in Latin America, two major developments have taken center stage.

In a recent turn of events, CyberConnect, a blockchain-based company, faced a significant setback that led to a sharp decline in the value of its native token, CYBER. The company’s emergency proposal, known as CP-1, was rejected due to a major error, causing the token’s value to plummet by over 20% within an hour.

The Non-Fungible Token (NFT) market, once a burgeoning sector of the digital economy, has recently shown signs of significant contraction.

In a startling turn of events, Bitcoin (BTC), the world’s leading cryptocurrency, has slid under the $26,000 mark, erasing all gains made earlier in the week.

Despite Grayscale’s victory, it is unlikely to prevent Bitcoin from ending August with negative monthly returns, analysts said. BTC was above $29,000 earlier this month and is currently hovering above $27,000.

Crypto markets extended their downtrend from last week, with ethereum, the second-largest cryptocurrency by market capitalization, falling below $1,655 amid bearish sentiment among traders and a lack of fresh catalysts.

CryptoQuant summarizes the changes in the Bitcoin market in the past year on social media X (formerly Twitter).

Ilan Solot, co-head of digital assets at Marex Solutions, said unrealized losses for short-term holders is one of the key issues facing the market right now.

Rui, the investment manager of HashKey Capital, tweeted that as Bitcoin fell from $29,000 to $25,000, the market finally came out of the shock range.

The cryptocurrency analysis platform CCData released the “Stablecoins and CBDC Report”, showing that the total market value of stablecoins continued to decline in August.

According to burn tracker Shibburn, the total number of tokens burned in the 24-hour period increased by 64.77% from the previous day.

Considered safe-haven currencies such as bitcoin and gold are struggling to gain momentum even as global markets are starting to show signs of cracks in the form of volatility in fiat currencies of troubled countries, an observer said.