Goldman estimates that the public holds about $2.6 trillion of gold for investment purposes, assuming a gold price of $1,800 per troy ounce. Bitcoin’s float-adjusted market capitalization is currently just under $700 billion, Pandl wrote, adding that this implies Bitcoin currently commands an approximate 20% share of the “store of value” (gold and Bitcoin) market. Source
The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues. The scale and nature of the incident is hard to ascertain, with Coinbase, Wu Blockchain and Redditors reporting there had been an incident causing the network to slow and transactions to fail. However Solana Labs co-founder Anatoly Yakovenko denied there had been a DDoS on this occasion. The latest incident…
The co-founder and managing partner of Nexo, a major cryptocurrency lender, has predicted that the price of bitcoin will be $100K by mid-2022. He highlighted “two simple reasons” why he is bullish about the price of bitcoin this year. Bitcoin Expected to Reach $100K by Mid-Year Antoni Trenchev, the co-founder and managing partner of Nexo, a major cryptocurrency lender, has shared his bitcoin price prediction in an interview with CNBC Monday. He said: I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it. Nexo…
Tuesday’s big numbers show the rapidity with which OpenSea has ensconced itself as the leading venue for trading non-fungible tokens. In the last 30 days alone, the marketplace for prized profile pics and other digital collectibles logged 1.6 million Ethereum transactions and a trading volume of $2.4 billion, according to data compiled by DappRadar. Source
The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline. An illustration of the head and shoulders pattern. Source: Corporate Finance Institute The pattern comes into play primarily when the price breaks below the…
China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital Yuan Wallet App Now Downloadable From iOS and Android App Stores China’s central bank, the People’s Bank of China (PBOC), has released a pilot version of its central bank digital currency (CBDC) wallet application. Developed by the PBOC Digital Currency Research Institute, the wallet app for e-CNY, also known…
Bitcoin (BTC) witnessed a roller coaster ride in 2021 and even though BTC has corrected sharply from its all-time high at $69,000, the digital asset is still up by 60% year-to-date. During the same period, gold has dropped more than 5%. With inflation soaring in the United States and several other parts of the world, Bitcoin’s outperformance over gold shows that investors may be considering it to be a better hedge against inflation when compared to gold. During the year, the total crypto market capitalization surged to about $3 trillion,…
“First Mover” dove into Web 3, what it means to different blockchain leaders, and do their plans include Ethereum? Joining the show to discuss this major theme of 2022 were the Near Foundation’s new CEO, Marieke Flament, and Kavita Gupta, founder of the new Delta Blockchain Fund. Also, Ronnie Moas of Standpoint Research shared his crypto markets analysis. Source