The biggest driver for overall inflation continued to be used-car prices, with an increase of 40.5% in January from a year ago and 1.5% higher than in December. Food prices surged 0.9% month-over-month, adding up to a 7% increase year-over-year, the highest since 1981. Energy costs advanced 0.9% in January. Source
Unus Sed Leo (LEO) surged by almost 70% on Feb. 9 to reach its record highs as traders assessed the potential of an incoming supply crunch in its market. The token was issued in 2016 to refinance crypto exchange Bitfinex after it lost about $70 million worth of Bitcoin (BTC) in a hacking incident. In its original whitepaper explaining LEO, Bitfinex had promised that if they could recover the lost funds, they would use 80% of the proceeds to buy back and burn LEO. Around 80% of stolen Bitcoin recovered…
Network congestion on the Ethereum network is a very real and present issue, which has in turn brought about more real and pressing issues. Users of the network, especially small-time investors, have drawn the short end of the stick with these issues as they are the most affected. With fees skyrocketing, carrying out small transactions on the leading smart contracts network is becoming less and less feasible with each passing day. The high fees and congestion have sparked discussions on how it can be eliminated. There are various developments in…
Cryptocurrencies are seeing a significant recovery as investors take advantage of the recent stock market rally and increased risk appetite. Bitcoin hits its highest in two weeks, extending gains from earlier this week that had seen it climb to $41,938 per coin on Saturday morning (Jan 24th). Related Reading | Bitcoin mimics stocks rally, hits two-week high Bitcoin, the largest digital currency globally, has hit $41,938. It is 16% high from Thursday’s low and 27% from the current year’s low of $32,950. Bitcoin price hits two weeks high of $41,938.…
Ethereum’s co-founder, Vitalik Buterin, and developer Tim Beiko have been discussing a proposed solution to the data transfer gas problem and current scaling issues. Buterin talked about adding a feature like “blob-carrying transactions” in a “near-future hard fork.” ‘Blob-Carrying Transactions’ The price of ethereum (ETH) has moved northbound during the last two weeks, climbing more than 25% higher within that time frame. Last week, ETH gained over 16% and the crypto asset managed to climb above the $3K per ETH zone. On February 4, 2022, Ethereum’s co-founder Vitalik Buterin shared…
It seems crypto winter is upon us and during times like these, projects that continue to forge ahead by focusing on development and expansion are often rewarded by traders who are looking to set up long positions where strong fundamentals trump the absence of short-term gains. One project that has weathered the storm in the crypto markets to establish a new all-time high is Telos (TLOS), a blockchain network created with the EOSIO software that aims to bring speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens…
Roughly nine months ago, Coinbase’s initial public offering (IPO) via a direct listing on Nasdaq launched, and shares swapped for $342 per share on April 16, 2021. Since then, Coinbase shares have dropped by close to half that value and today, COIN is swapping for more than 45% lower at $187 per unit. Coinbase Follows Bitcoin With Shares Down 45% From ATH Coinbase (Nasdaq: COIN) is a popular crypto firm and digital asset exchange with 8.8 million monthly transacting users during its height in Q2 2021. The business founded by…
“Web3” may be one of the biggest buzzwords of 2022, but the idea of creating an entirely decentralized platform to host decentralized applications has long been a vision of the crypto community. While it’s notable that some blockchain companies began building out Web3 applications four or five years ago, the Web3 space has only started gaining traction recently. The recent growth of Web3 was highlighted in a new report from Electric Capital, a venture capital firm that has been investing in Web3 companies since 2018. The “Electric Capital 2021 Developer…
The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than…
BTC briefly accounted for almost 42% of the overall crypto market cap in late January, according to the statistics from CoinMarketCap and TradingView. Bitcoin (BTC), since the jump, has been the biggest thing in the crypto scene. Its dominance for some time was unrivaled as the digital coin somewhat decided the outcome of the market with its performances, taking altcoins along for a ride in either win or loss scenarios. The influx of new altcoins into the crypto market, all with the same purpose of dethroning Bitcoin from the top…