Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
Other tokens, known as utility tokens, are only meant to be used within the context of a particular network, so they can’t even technically be classified as tradable assets in the same manner of security tokens.
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Our data aggregators include CoinMarketCap, Coinpaprika, TradingView, CryptoCompare and IntoTheBlock.
An interesting avenue to explore is the wavelet coherence between different cryptocurrencies, allowing any relationships between different cryptocurrencies to be detected and documented. Relationships between different cryptocurrencies would be of interest for those searching for diversification within cryptocurrency markets, especially to those managing a portfolio of cryptocurrencies.
Tim Cook says he owns cryptocurrency - but don't expect it at Apple any time soon
How does this latest crash compare to previous ones, or even to regular stock market drops — and what does it mean for investors?
Something is brewing over at SafeMoon. The DeFi project is close to launching a widely anticipated V2. The team is targeting greater adoption and additional use cases with the launch of V2.
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Both moving averages are sloping up and the relative strength index (RSI) is near the overbought territory, indicating that bulls are in control.
But this time feels different. It feels like a bubble. The fever in the post-Thanksgiving moonshot ran hotter than we’d seen before. We also began to see a robust supply response.
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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.
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.
GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.
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One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought US$40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.