CryptoTV by CoinSwitch Kuber | Kavita Gupta, Founder - Delta Blockchain Fund, FINTECH.TV
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
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The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
The SafeMoon community also has their sights set on a “cool exchange listing” that according to SafeMoon CEO John Karony cited by the SafeMoonWarrior Twitter account will be coming soon. In addition, SafeMoon investors are anticipating a couple of key events, including an expanded crypto wallet and the launch of a crypto exchange.
SAN SALVADOR, El Salvador (AP) — El Salvador became the first country to adopt Bitcoin as legal tender Tuesday, but the rollout stumbled in its first hours and President Nayib Bukele said the digital wallet used for transactions was not functioning.
The majority of the crypto currency market saw prices crash once more on the morning of 22 June following China’s clampdown on digital currencies.
A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
One example is the negative correlation that occurs between Ethereum and its associated factors around June 2016 (left facing arrows at the top and just left of the horizontal middle of the Ethereum scalograms). During this time interval, one of the most well-known applications at the time, the DAO, built on top of the Ethereum environment, was hacked. It can be seen that all factors are negatively correlated in the short term with the price during this time interval. As a result of the uncertainty generated by the hack, price dropped sharply, but activity on social media and interest increased (causing the negative correlation). The negative relationship can be seen during the 2–4 day band for all factors.
Barberis, N., A. Shleifer, and R. Vishny (1998), “A model of investor sentiment”, Journal of Financial Economics 49, 307{343.
The little more than a decade old market for digital assets has already roughly quadrupled from its 2020 year-end value, as investors have gotten more comfortable with established tokens such as Bitcoin and networks like Ethereum and Solana continue to upgrade and attract new functionality. Excitement about the possibilities of decentralized finance and non-fungible tokens is growing, and memecoins like Dogecoin and Shiba Inu continue to attract attention.
Musk’s influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.
Bitcoin notches new all-time high after inflation data shows prices are surging at the fastest rate in 30 years
The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning, sinking to as low as $8,200 from around $65,000. The price did nothing like that on other venues, and on Binance the level almost immediately snapped back to where it had been.
SafeMoon may have some investors concerned that it will not return to its prior glory. Despite a very promising starting performance, SafeMoon has settled far below the hopes of the investors that held onto the token.
Investors that may have once dismissed it, ought now to consider taking part in it
NameLTPChg (%)Vol (24h, Cr.)M.Cap (Cr.)Circ. Supply (# Cr.)NKN58.9818.50%2,6953,79070.00 Understanding DeFi and its sudden growth in India with Ashish Anand of Bru.Finance
The demand for a cryptocurrency depends on many factors. Demand will be increased based on how useful it is to own the coins. This means if the crypto monetary system works well (i.e. fast transactions and low fees), if smart contracts become more commonplace, and if more businesses start to accept crypto, the demand for crypto will increase. Additionally, there is an increased demand for cryptocurrencies as a store of value investment.