PLUS: The tragicomedy of Sam Bankman-Fried continued on Friday with the revocation of his bail. Even before the decision, CoinDesk columnist David Morris explained why the decision was predictable.
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The pattern is consistent with traditional markets where outsized gains in meme stocks relative to defensive plays are seen as a contrary indicator for the broader market. Bitcoin, the leading cryptocurrency by market value, has traded dead flat near $30,000 this month amid the SHIB rally, CoinDesk data show.
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“Stagflation is the worst possible scenario for risk assets, particularly for stocks,” Acheson said, adding that compared to equities, the downside in bitcoin appears limited, considering current low participation from macro investors, the spot-ETF narrative and bitcoin’s gold-like appeal.
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Decentralized finance or DeFi ecosystems are still suffering through crypto winter, according to the analysis firm Messari. As a whole, the industry’s total value locked, or TVL – a key metric that represents collateral and deposits put into blockchain protocols – has been declining. On Ethereum, by far the biggest DeFi ecosystem, TVL dropped by […]
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Bitcoin’s price saw a 3% uptick, climbing to just shy of $30,000 in response to a plunge in global long-dated government bond yields. This fall in yields was triggered by China’s far weaker than anticipated trade numbers for July. The U.S. 10-year Treasury yield tumbled below the 4% mark. These macroeconomic shifts have seemingly buoyed […]
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A rebound in the price of bitcoin has sharply narrowed losses for MicroStrategy’s (MSTR) holdings of the cryptocurrency. When Michael Saylor stepped down almost exactly a year ago as CEO of MicroStrategy to become its executive chairman with a sole focus on investing in bitcoin, his digital-asset strategy was looking pretty bleak. He had already […]
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What: CryptoPunks, one of the earliest NFT projects on Ethereum and also one of the most popular collections of all time, experienced a number of high-profile trades this week, including one from prolific NFT artist Beeple. His first profile-picture (PFP) NFT purchase, the clownish Punk #4953 set the stage for other high-value buys, including Punks […]
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The unemployment rate TKTK to 3.X% versus estimates for 3.6%.
Continue ReadingCurve Founder Michael Egorov’s $168M in holdings is under stress, imperiling DeFi as a whole. PLUS: The Litecoin Foundation and crypto cold-storage card manufacturer Ballet HAVE teased a sale of 500 collectable cards – fashioned from 50 grams of fine silver.
Continue ReadingCurve, a stablecoin exchange at the heart of decentralized finance (DeFi) on Ethereum, has been the victim of an exploit, according to a tweet from the project. Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. […]
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Bitcoin (BTC) $ 63,753.00
Ethereum (ETH) $ 3,100.25
Solana (SOL) $ 144.37
USDC (USDC) $ 1.00
XRP (XRP) $ 0.518877
Dogecoin (DOGE) $ 0.149466
Cardano (ADA) $ 0.467262
Shiba Inu (SHIB) $ 0.000025
Polkadot (DOT) $ 6.81
Litecoin (LTC) $ 83.28
Ethereum Classic (ETC) $ 26.13
Stellar (XLM) $ 0.112635
Helium (HNT) $ 3.47
Ravencoin (RVN) $ 0.032022
Uquid Coin (UQC) $ 8.10