Terra’s LUNA token has been trading inside a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 but could not sustain the higher levels.
More importantly, we find that the ACP and ANET factors can price cryptocurrency returns. In particular, all of our five cryptocurrencies have positive and significant exposures to the fundamental factors. The explanatory power of ACP and ANET is over and above any effects related to the Bitcoin and momentum factors. This finding is non-trivial given that the five cryptocurrencies in our sample have consistently accounted for between 80% to 95% of the total cryptocurrency market capitalisation. Furthermore, we extend our factor analysis to an out-of-sample set of 33 cryptocurrencies obtained from the Bittrex exchange. We find that the aggregate computing power and network factors also price cryptocurrencies in this large out-of-sample data set.
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Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
Fig 1. Price series for each cryptocurrency considered (each cryptocurrency priced in USD).
"Nevertheless, with central banks likely to begin raising rates and tapering its stimulus package, investors are looking for a store of value that is perhaps less susceptible to these changes.
Cryptocurrency’s technical foundations date back to the early 1980s when an American cryptographer named David Chaum invented a “blinding” algorithm that remains central to modern web-based encryption.
“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
Dapps are software applications that run across a network of computers, purportedly without the possibility of interference or downtime, while smart contracts are binding agreements, which are written as lines of code and can therefore automatically enforce their own clauses. Ether is used to process transactions on the network, including those automated by dapps and smart contracts.
The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year
However, as scheduled, the Binance community should expect the Axie-listing today exactly at 8 am EST / 5 am PST. As we are all waiting for the event, users currently have the option to deposit their AXS in preparation for trading.
If an investor believes in the technology-backed digital currency, then cryptocurrency should be his cup of tea. Just a decade-old asset class, it has yielded astronomical returns over the years. Some investors look to use these digitally coded tokens to hedge against inflation. Despite high volatility and speculations, there are multiple reasons that they can become mainstream in the coming future.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
VERY PRODUCTIVE WEEK ALL THINGS #SAFEMOON LOADS OF UPDATES TO COME OVER THE NEXT FEW WEEKS/MONTHS! AS #SAFEMOON GROWS EVERYDAY SO DOES OUR VISION AND TEAM. 🚀🌕
“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”
A news story claiming Walmart would accept cryptocurrency Litecoin was fabricated, the retail giant says.