NFTs "could be as big or bigger" than cryptocurrency trading on the platform, said Coinbase CEO Brian Armstrong.
Here’s our guide to crypto, and why so many people are talking about it these days.
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Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
This is a stable coin, so it is pretty unique among other cryptocurrencies. Stable coins have the backing of fiat currencies such as the Euro or US dollar. This means that if an investor buys 1 Tether coin, they will have the same value of 1 fiat currency (backing the coin). Theoretically, what this means is that Tether will have a more stable value than other cryptocurrencies that suffer market volatility.
For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
The price movements can be seen moving along a descending triangle on the charts. The digital asset can be seen accumulating currently, hinting at a breakout to higher highs. But a slight pullback to support levels can be expected. On the downside, a fall to the bottom can prevail, which is unlikely.
In the case of cryptocurrencies, academia has barely scratched the surface with respect to identifying the determinants of their prices. For example, studies by Cheah and Fry (2015) and Corbet et al. (2018) claim that Bitcoin has no intrinsic value and that its price has persistently exhibited ‘bubble-like’ behaviour. Makarov and Schoar (2018) find that the prices of Bitcoin, Ethereum, and Ripple differ across exchanges for weeks. Outside of academia, the President of the United States recently tweeted that cryptocurrencies are based on “thin air”.1
Brits are being warned they risk losing all of their money if they invest in bitcoin and other cryptocurrencies.
Brian was appointed Binance US CEO after his time as the Comptroller of the Currency. His appointment was in line with Binance strategy to employ regulatory professionals in key offices to help it end it tackle continued crackdown in the hand of regulators.
Before this latest surge for the top two cryptos, recent sudden drops followed a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptocurrencies illegal in the country. After previously topping $52,000 in early September, Bitcoin’s price had dropped and struggled to get back over $50,000 until this month.
China makes all crypto currency transactions illegal after ordering shut down of Bitcoin mining in Sichuan province
— Patrick Uzcategui is now an government relations associate at Sylvamo, a new spinoff company from International Paper Company. He was previously government affairs coordinator at Tyson Foods.
Binance Smart Chains to introduce gas burning mechanism like Ethereum for increasing value of tokens
Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).
The wallet has been a subject of excitement, particularly among the SafeMoon community, for some time. Earlier this month, John Karony posted a video showcasing the product’s “safety, quality and accessibility.”
The goal is to keep the average interval between new blockchain creations steady at a predetermined level. Bitcoin’s is 10 minutes, for instance.