Blockchain Bites: Uniswap’s Token, Kraken’s Bank, Bitcoin’s Newbies

Uniswap issued a governance token, Kraken is the world’s first crypto bank and there are more “newbie” bitcoin investors than any time in the past two years. Top shelf Crypto’s bankKraken Financial, a newly formed division of the popular crypto exchange, has become the first firm to receive a special type of charter making it a bank. On Wednesday, the Wyoming Banking Board approved the exchange’s application for a special purpose depository institution (SPDI) charter – making it a licensed bank in the state, replete with access to federal payments infrastructure and…

The History, Present, and Future of Bitcoin’s Price

Bitcoin has a history with its pricing and market valuation. There was a time when it needed 10000 bitcoins to buy a pizza back then in 2009. Since then bitcoin has come a long way with its capped market pricing. Bitcoin now becomes a $200 billion market with a value of $11000 per bitcoin. It reached $1100 just a year after its first halving. The second halving took place in July 2016 where 1 bitcoin was worth $660. After six months, the price exceeded $1000 then after four months it…

Here’s Why Altcoins Are “In Trouble” Despite Bitcoin’s Bullish Behavior

Bitcoin price today smashed back above $11,000 and is attempting to hold currently. The incredibly bullish price action following a retest of resistance turned support could have given bulls the confidence to push the crypto asset’s price much higher. But as bullish momentum builds in Bitcoin, altcoins have turned bearish. According to one crypto analyst, alts are “in trouble” no matter which direction the first-ever cryptocurrency heads next. Analyst: Bitcoin Is Bullish But Is Ready To ‘Rekt’ Alts Whatever Route It Takes Bitcoin has been the best-performing mainstream asset of…

Here’s the Pivotal Level Where Bitcoin’s Ongoing 10% Surge May End

Bitcoin is surging despite weakness in the altcoin market. Since bottoming at $9,800 last week, the coin has gained $1,000 and over 10% as its price has reached $10,850 as of this article’s writing. Earlier today, the coin traded as high as $10,900 as buyers stepped in, seemingly responding to MicroStrategy purchasing over 10,000 coins. The leading cryptocurrency’s rally may soon end, though. Analysts in the space are currently eyeing $11,000-11,200 as a potential region where Bitcoin’s ongoing move higher will come to a stop. This does not take away…

Bitcoin’s Hash Rate Hits New Highs, Leading to Imminent +11% Difficulty Adjustment

Bitcoin’s recent price turbulence has not been emblematic of its underlying strength, as the cryptocurrency’s hash rate has been plowing higher throughout the past several weeks and months, just setting another fresh all-time high. This metric’s growth signals that demand for the Bitcoin network is incredibly high at the moment, despite many of the cryptocurrency’s detractors stating that it is being overshadowed by Ethereum. It is true that Ethereum has seen a spike in blockspace demand like never before, but this has come about due to the inflows of users…

World’s largest banks lost 3x Bitcoin’s market cap during the pandemic

Since the outbreak of COVID-19, the world’s 14 largest banks have lost $635.33 billion in market capitalization. This is more than three times the current market capitalization of Bitcoin (BTC) and almost double the capitalization of all cryptocurrencies. Market capitalization of the world’s biggest banks. Source: Buy Shares. The starting point for this data is December 19. For reference, Bitcoin’s market cap at the time was $130 billion. As the world was entering the pandemic induced recession, six of the banks on the list had a market cap higher than…

Here’s What Bitcoin’s Strong Weekly Close Says About Its Present Outlook

Bitcoin posted a strong weekly close yesterday afternoon, which is what allowed the cryptocurrency to see an overnight upswing that has led it past multiple crucial levels. While speaking about the digital asset’s price action, one analyst observed that its strong weekly close may continue acting as a launchpad for further upside, noting that bulls were able to defend a crucial support level for two consecutive weeks. Further adding to the fire that has driven BTC higher today is strength seen in the stock market. BTC has once again grown…

Does Bitcoin’s Ongoing Rally Have Legs? Here’s Why Analysts Think It Does

Bitcoin is pressing higher after a $300-400 correction on Sunday morning. The leading cryptocurrency currently trades at $10,400 as of this article’s writing, around $200 from the lows. This comes after the leading cryptocurrency printed a pivotal weekly candle close above $10,000. $10,000 has long acted as an important horizontal level for Bitcoin, having marked three separate highs over the past year. Analysts think that Bitcoin’s ongoing rally may have legs despite it being so nascent and relatively small. One sign that this is the case is the price action…

Bitcoin’s Hash Rate Surges Higher Despite $2,000 Price Correction

Bitcoin has faced a strong correction over the past few weeks as legacy markets have collapsed from local highs. The leading cryptocurrency currently trades at $10,250, over $2,000 below the year-to-date high at $12,500. Bitcoin’s on-chain trends remain bullish despite the strong correction. Along with a persistent high count of transactions, it was recently reported that BTC’s network hash rate is moving higher. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Bitcoin Hash Rate Still Growing Despite Price Drop and Miner Outflows Digital asset manager Charles Edwards,…