Month: January 2022

Bitcoin price bounces off $42K as order book imbalance turns ‘crazy’

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Bitcoin (BTC) briefly touched $43,000 prior to Wall Street opening on Jan. 6 as new market analysis offered bad news for bears.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Very similar to $30,000” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged after hitting its lowest levels in nearly six weeks. Amid six-month lows for sentiment and a feeling of foreboding on social media, analysis investigating trader behavior nonetheless concluded that all is not as bad as it seems. In a series of posts on the day, popular Twitter…

Five coins that saw huge gains in 2021

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The year 2021 was unprecedented for crypto, with Bitcoin (BTC) and Ether (ETH) gaining 60.58% and 408.5% throughout the year, respectively. For the latter, the explosion of decentralized finance (DeFi), nonfungible tokens (NFTs), decentralized applications (DApps) and decentralized exchanges (DEXs) built on its blockchain created a whole new digital currency cyberspace encompassing all corners of the world. But, the year was also an auspicious one for altcoins, whose performance far outweighed that of BTC and ETH during the same time period. So, without further ado, let’s look at five cryptocurrencies…

Why You Need to Buy Sassy Unicorns NFT – Sponsored Bitcoin News

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sponsored What Are Sassy Unicorns NFT Sassy Unicorns are a collection of 10,000 unique NFTs on the Ethereum blockchain. Each unicorn is available to adopt, with unicorns distributed randomly at the minting event. Special About Sassy Unicorns NFT Each NFT holder can yield 7$ daily by holding NFT in their wallet. Passive Income Token The goal is to create a loop. The passive income increases the value of the NFT, the price of the token increases because the floor price increases, so the passive income increases again because token price…

Nas Selling Rights to Two Songs via Crypto Music Startup Royal

The rapper Nas plans to sell two of his recent tracks through Royal, the crypto-backed music service he invested in late last year. The songs – “Ultra Black,” off Nas’ 2020 album King’s Disease, and “Rare,” from 2021′s King’s Disease II – will be available as “limited digital assets” [LDAs], which the company describes as an “extended version of an NFT.” Royal’s pitch has to do with selling ownership of individual songs via crypto; buy a token attached to a song, and you’ll receive royalties from its use down the…

Tribal Credit raises $40M in ‘hybrid’ debt round funded by dollars and stablecoins

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Crypto-focused enterprise payment platform Tribal Credit has concluded a $40 million debt offering that was funded through fiat and stablecoins — giving the company additional capital to expand its business services in Latin America.  The so-called hybrid debt round was financed by Partners for Growth, a California-based investment firm, and Stellar Development Foundation (SDF), which is a non-profit organization supporting the growth of the Stellar blockchain. Tribal said it will use the capital to fund receivables from its customer base throughout Latin America, particularly Mexico, Brazil, Chile, Colombia and Peru.…

What Really Mattered to Crypto Markets in 2021

While ether, the native asset of the Ethereum blockchain, still has a way to go before traditional investors begin to form their investment thesis, bitcoin cemented itself in the minds of all professional investors, as it eclipsed $1 trillion in market capitalization in 2021. What’s more, bitcoin also remained uncorrelated with all macro assets, which could make for an interesting value proposition for the asset as managers look to approach their portfolio construction in 2022. That said, bitcoin’s correlation with the S&P 500 ticked up in Q4 2021, suggesting that…

An Advisor’s Guide to Altcoin Investing

While 2021 was certainly the year of bitcoin, investors with a particular type of risk appetite are diversifying their crypto portfolios with altcoins. The term “altcoin” is short for “alternative coin” and refers to cryptocurrencies other than bitcoin. Ether is perhaps the most popular altcoin, though crypto insiders quickly bring up other names like the bitcoin copycat litecoin, the stablecoin tether and, of course, dogecoin, the meme coin popularized by Tesla CEO Elon Musk. This article originally appeared in Crypto for Advisors, CoinDesk’s weekly newsletter defining crypto, digital assets and…

Lessons I’ve Learned About Crypto as an Advisor

Since crypto is a 24/7/365 market, I checked my Coinbase account approximately every 15 seconds. I’d wake up in the middle of the night and check. First thing in the morning, I’d check prices. Waiting at a red light, time to check prices. I had no idea what I invested in, or why the price was moving, but I liked that it was easy. Source

BofA Upgrades Coinbase to Buy, Sees Revenue Diversification Beyond Retail Crypto Trading

Bank of America upgraded Coinbase shares to buy from neutral, leaving the price target unchanged at $340. The upgrade was due to increasing signs of revenue diversification beyond just retail crypto trading, a trend which it thinks will accelerate further this year, the bank said in a note on Thursday. The bank forecasts subscription and services revenue to increase to 16% of the company’s total revenue in 2023, from 12% in the third quarter of 2021. This trend will be driven by a combination of offerings such as staking, earn…