EY Increases Its Investments in The Blockchain Market

One of the Big Four auditing firms, Ernst & Young (EY), has increased its investments in blockchain technology, with a new injection of $100 million in funding. As announced by the firm, the decision to increase investments is due to the rise in demand for blockchain-based products. The funds will be used to fund blockchain and crypto-asset research, engineering, and services. For about 5 years now, EY has had its hands full with its engagements in blockchain technology. In that time span, the company has built several unique products including…

Bitcoin Dominance Dips to 40%, Top Ten Cryptos Siphon BTC’s Market Supremacy – Bitcoin News

The crypto economy has dropped significantly in value during the last few days tapping a low of $2.06 trillion on Monday. Additionally, the leading crypto asset bitcoin has seen its market dominance drop to 40% of the crypto economy’s overall valuation. Bitcoin’s dominance index hasn’t been this low since June 2018. Bitcoin Dominance Drops to the Lowest Point Since 2018 At the time of writing, the cryptocurrency economy is worth roughly $2.06 trillion, as far as the value of all 9,869 digital currencies in existence is concerned. Furthermore, bitcoin’s (BTC)…

Bitcoin Stock-to-Flow Still ‘Intact’ Says Creator, Crypto Fear Index Taps 12-Month Low – Market Updates Bitcoin News

The leading cryptocurrency bitcoin has dropped 20% in value after Tesla announced on May 12, the electric car firm would not be accepting bitcoin for purchases. Two days later, the creator of the notorious stock-to-flow cross-asset (S2FX) price model, Plan B, shared his model and said the S2FX was still “intact.” Plan B still shows confidence in the bitcoin bull run and expects another 5x in the next six months. S2FX Price Model Still ‘Intact’ Despite the recent crypto market downturn, Plan B still seems positive that the bitcoin bull…

Fed Is Responsible for Market Pullback, Not Bitcoin or Musk, Says Robert Kiyosaki

Whiles Mr. Kiyosaki’s opinions have been met with diverse reactions, the United States Labor Department has announced that the Inflation rate in the country has shot up the fastest rate since 2008 Robert Kiyosaki, the author of the popular book ‘Rich Dad, Poor Dad’, has attributed the current state of the financial space in the United States to actions of the US Fed, treasury, and President Joe Biden. Kiyosaki has revealed that he intends to buy crypto amid the current Bitcoin dip, adding that neither Elon Musk nor Bitcoin is…

Raoul Pal Calls Out Bitcoin Maxis For Their Role In The Market Downturn

As markets reel from the latest Elon Musk Bitcoin FUD, the CEO of Real Vision, Raoul Pal, said BTC maximalists are in part culpable due to their blinkered view. “The biggest impediment to BTC adoption are bitcoin maximalists. Few understand this. Be more open. Don’t try to ram your points home. Support people and don’t be tribal and never be abusive and insulting if someone doesn’t share your BTC only views. It’s a big world out there.“ Speculation Mounts That Musk Has Dumped His Bitcoin Last week, Tesla CEO Elon…

Dfinity’s Internet Computer (ICP) Continues on Its Price Decline amid Ongoing Market Correction

The price of ICP is down. While Bitcoin is leading the market correction, the top altcoins including Ethereum (ETH) have also been dragged into the nosediving market. The price of the Dfinity’s newly launched blockchain web protocol, Internet Computer (ICP) has continued to bear the brunts of the ongoing global crypto market correction. Despite the coin’s price falling from its debut price of $731 to $258 over the past weekend, the network’s native digital currency has continued to nosedive. Internet Computer Price At the time of writing, Internet Computer is…

Bitcoin, Ether, Major Altcoins – Weekly Market Update May 17, 2021

The total crypto market cap erased $368 billion of its value for the last seven days and now stands at $2,113 billion. The top 10 coins were mostly in red for the same time period with Litecoin (LTC) being the worst performer by losing 25.4 percent.  Bitcoin (BTC) is currently trading at $45,150, ether (ETH) is at $3,520. BTC/USD Bitcoin closed the trading day on Sunday, May 9 at $58,242 after hovering around the 50-day EMA on the daily chart throughout the week. The biggest cryptocurrency managed to regain positions above…

Bitcoin Market Dominance Slips to 3-Year Low of 39.9%

As for the exact market capitalization, Bitcoin has tanked from over $1 trillion a few weeks ago to around $840 billion. Bitcoin (BTC), the flagship digital asset of the global cryptocurrency industry is losing its grip on the market as its dominance is weakening. Drawing on data provided by CoinMarketCap, BTC’s dominance is now 39.9% at the time of writing, a dip from a high of 69.71% back in January when the bull run was just picking momentum. The changes in the global cryptocurrency industry over the past year have…

Bitcoin and Ethereum Price Crashes with Crypto Market Correction of Over 8%

Elon Musk’s tweets send ripple across the crypto market, with the overall crypto market cap taking a dip under $2 trillion before recovering once again. In a major market-wide correction earlier today, Bitcoin price dropped corrected more than 10% making an intraday low under $42,500. This BTC price correction comes as the world’s largest cryptocurrency failed to move past the $50,000 resistance. Out of the total $250 billion eroded from the crypto market today, BTC alone contributed over 50%. Today’s Bitcoin price correction comes amid Elon Musk tossing up fresh…

Bitcoin and Ethereum usage fees drop 70–80% as market slide continues

Transaction fees on Bitcoin and Ethereum have fallen by 81% and 71% respectively over the last few weeks, as the broader cryptocurrency market continues to descend from its recent all-time high. The average cost of using the Ethereum blockchain fell from $69.92 per transaction on May 12, to $20.06 by May 16, according to data from Bitinfocharts. In the same time period the Ether (ETH) spot price both peaked and crashed, falling from an all-time high of $4,358 on May 12, to $3,183 just prior to publication — a 27%…