World's largest cryptocurrency Bitcoin was trading over 7% higher today. The price of Bitcoin rose 7.34% to $66,119 on Coinmarketcap. Market cap of the cryptocurrency reached $1,252.44 billion.
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Can Bitcoin and altcoins sustain their bullish momentum or will profit-booking drag prices lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
This is the latest in a string of recent high-profile trading problems in crypto. Synthetify, a new decentralized exchange, was forced to shut down for a while earlier this month shortly after its debut because of bad data provided by the Pyth Network, a price feed backed by some of the world's most well-known trading and exchange firms. Pyth malfunctioned another time in September, erroneously making it appear that Bitcoin had crashed 90%.
Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
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.
Then 5% goes to buying back and burning tokens to reduce circulation and increase demand for the token. The buyback and burning process is automated. With every transaction, 5% of the 12% fee goes to the Buyback smart contract, which automatically buys tokens from the liquidity pool and burns them. Therefore, Safemoon members would also want to invest in a coin whose supply is diminishing hence a consistent increase in the price of the coin.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
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Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
Subscriber growth is harder to track than the other metrics. Only the current subscriber count is displayed for a particular subreddit, and historical data cannot be rebuilt retrospectively as subscribers do not have a visible historical imprint. A third-party website, RedditMetrics (http://redditmetrics.com/), has been retrieving and storing real-time subscriber counts; however their data on the particular subreddits of interest only reaches back to 2012 so the subscriber growth analysis can only start at this point. Fig 2 shows the three social media metric time series for each cryptocurrency; note that subscriber growth is the only metric that can have negative associated values, caused by more users unsubscribing than subscribing on a particular day.
Harrison, who still owns SafeMoon, said that the developers have become more professional since the AMA incident: “They’re a bit more scripted, they sit down, they’re in suits.”
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
According to DogeZilla’s white paper, it has a vault that verifies crypto launches.