Financial Industry News
Levels of activity on Ethereum have peaked to their highest in two years, going by one metric. The seven-day moving average of the number of active ether addresses rose to 405,014 on Friday – a threshold not seen since May 2018, according to data provided by the blockchain analytics firm Glassnode. Active addresses are the […]
Continue ReadingCardano (ADA) continues to skyrocket. The eighth-largest cryptocurrency by market value jumped to $0.1021 on Saturday to hit its highest price level since June 2019. It has rallied by a staggering 170% in the second quarter, according to CoinDesk data. At press time, ADA is trading near $0.098, representing a 200% year-to-date gain. Its bitcoin-denominated […]
Continue ReadingBitcoin’s positive correlation with stocks continues Monday, with the cryptocurrency drawing bids alongside gains in global equities. As of 09:35 UTC, the leading cryptocurrency by market value is trading at $9,190, representing a 1.4% gain on a 24-hour basis, according to CoinDesk’s Bitcoin Price Index. Meanwhile, major European equity indices are up at least 1.5% […]
Continue ReadingInvestors’ search for yield has pushed a widely tracked ether options market metric to its highest level in 12 months. The put-call open interest ratio, which measures the number of put options open relative to call options, rose to 1.04 on Thursday, a level last seen in July 2019, according to data provider Skew, a […]
Continue ReadingEver since its inception, bitcoin has been dubbed “digital gold,” given it is durable, fungible, divisible and scarce like the precious metal. However, while gold has a strong track record of rallying in times of stress in the global equity markets, bitcoin is yet to build a similar reputation as a safe-haven asset. In fact, […]
Continue ReadingBitcoin (BTC) is still outperforming the top traditional financial assets so far in 2020 – even after a dour performance this month. At time of writing (10:00 UTC), bitcoin is trading around $9,170, representing a 27.8% gain on a year-to-date (YTD) basis, according to CoinDesk’s Bitcoin Price Index. Meanwhile, gold and the U.S. Dollar Index, […]
Continue ReadingBitcoin chalked out minor price gains on Sunday, ending its longest run of daily losses for half a year. The leading cryptocurrency by market value jumped 1.2%, having suffered losses in each of the preceding five days, according to CoinDesk’s Bitcoin Price Index. Prices last took a beating for five consecutive days in early December […]
Continue ReadingThe COMP token may have been around for less than two weeks, but it’s already been listed on both Coinbase’s retail and Pro platforms. The San Francisco-based exchange said in a blog post Thursday the token had been made available on Coinbase.com and via the firm’s Android and iOS apps. “Coinbase customers can now buy, […]
Continue ReadingA popular narrative argues that the massive stimulus programs from the Federal Reserve, launched to counter a coronavirus-induced recession, could hyperinflate the economy and fuel a major rally in bitcoin. However, that bullish theory, which suggests that the cryptocurrency would be viewed as a hedge asset in dire economic times, has been dealt a blow […]
Continue ReadingBitcoin looks set to end its three-quarter losing run despite having dropped to $9,000 earlier on Thursday. At 03:35 UTC, the leading cryptocurrency by market cap printed a low of $9,002, extending Wednesday’s 3.5% decline, according to CoinDesk’s Bitcoin Price Index. The pullback from Monday’s high of $9,800 to $9,000 could be associated with risk […]
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