Tag: High

Why is Bitcoin down from its March high?

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Bitcoin recently dropped from its March peak, influenced by a stronger U.S. dollar and geopolitical issues. What should we expect next? Bitcoin (BTC) has seen a sharp decline in its price, trading at around $63,000 levels as of Apr. 16. This comes after it reached an all-time high of $73,750 on Mar. 14, marking a 15% pullback from its peak. BTC one-month price chart | Source: CoinMarketCap The surge to the all-time high was largely propelled by the approval of spot Bitcoin ETFs by the U.S. SEC in January 2024.…

Bitcoin dominance back at 2021 high, boosted by ETFs

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Bitcoin’s prominence in the cryptocurrency sector has reached a three-year peak, primarily influenced by strong interest in U.S. ETFs. According to CoinMarketCap, it accounted for almost 55% of the $2.4 trillion market for virtual currencies, a level last seen in April 2021. The major coins following Bitcoin (BTC) in market share are Ether (ETH), stablecoin Tether, Binance’s BNB, and Solana (SOL). Recently launched U.S. spot ETFs from companies such as BlackRock and Fidelity Investments have quickly become notable successes, accumulating nearly $56 billion in assets. The influx of investment briefly…

Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High

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Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion. Source: CoinMarketCap Toncoin: Powered By Strategic Partnership Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week…

Ethena Labs’ USDe Stablecoin Divides Opinion as High Staking Yields Stir Memories of Terra’s Demise

Unlike asset-backed stablecoins like tether (USDT) and USDC, whose value is secured against dollars or dollar-equivalents such as U.S. government debt, USDe calls itself a synthetic stablecoin with its $1 value maintained through a financial technique known as the cash-and-carry trade. The trade, which involves buying an asset and simultaneously shorting a derivative of the asset to collect the funding rate, or the difference between the two prices, is well known in traditional finance and doesn’t carry directional, or delta, risk. Source

Thai Crypto Exchange Bitkub May Be Valued as High as $3B in IPO: CEO

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Bitcoin Mining Difficulty Hits Record High In Anticipation Of Halving Event

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The Bitcoin network mining difficulty has surged nearly 4% to hit an all-time high just a few days before the highly anticipated Halving event. This adjustment, recorded at 86.4 trillion, marks a crucial milestone in the cryptocurrency’s history. Decrypting Bitcoin’s Mining Complexity Notably, Bitcoin mining difficulty measures miners’ complexity in solving mathematical puzzles to validate transactions and add new blocks to the blockchain. This latest surge reflects the increasing computational power dedicated to securing the network as miners brace themselves for the impending Halving event scheduled for April 20. As…

Bitcoin mining difficulty marks new high before halving

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Bitcoin’s mining difficulty achieved a record high of 86.4 trillion amid upcoming halving in April. Data gathered by btc.com showed that Bitcoin’s (BTC) mining difficulty achieved a record high of 86.4 trillion as companies generated massive amounts of computing capacity before the much-anticipated halving event later this month. Mining difficulty refers to the computer-generated power needed to solve complex mathematical equations required for unlocking new Bitcoins. BTC is scheduled to undergo a code change by April 20, and the latest mining difficulty report is the final update before this halving.…

Peter Schiff Warns High Inflation Returning — Accuses JPMorgan CEO Jamie Dimon of Sugarcoating the Problem

Economist and gold bug Peter Schiff has warned that high inflation will return with a vengeance and significant Fed rate hikes will be necessary. He also criticized JPMorgan CEO Jamie Dimon for downplaying the severity of the U.S. economic situation. However, he conceded that Dimon’s perspective is “a lot closer to being right than most […] Source CryptoX Portal

SUI Slips After Hitting All-Time High: TVL Tumbles 12%

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The burgeoning world of Decentralized Finance (DeFi) has witnessed a rollercoaster ride for newcomer Sui, a Layer 1 blockchain designed to scale DeFi applications. After a stellar start to 2024, Sui’s Total Value Locked (TVL) – a metric reflecting the total value of crypto assets deposited in its DeFi protocols – surged to a record $724 million in late March. However, this celebratory moment proved fleeting, as the platform has since experienced a downward trend. SUI TVL Takes A Tumble Despite the recent decline, Sui’s TVL currently sits at a…

Bitcoin nears all-time high as daily trading volume rises 70%

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Bitcoin is up by over 4% today as the largest cryptocurrency nears its all-time high after a month.  After dipping below $66,000 following wider liquidations in the crypto market, BTC made a strong comeback this week, driven by nearly $570 million total net flow in Bitcoin ETFs last week. On Thursday and Friday, Bitcoin ETFs consecutively saw more than $200 million in net inflows.  Market sentiment is also highly positive, as the fourth halving is approaching later this month. The anticipation has been further driven by the halving of Bitcoin…