Launched in 2015, Ethereum (ETH) is the second most popular cryptocurrency and, on most days, the second most valuable after Bitcoin.
Recent drops have been caused by a combination of factors, Noble theorizes, from excitement about low-quality coins, to negative remarks from Elon Musk, to China’s recent crackdown on crypto services. The accumulated response made this sell off “all the more violent,” says Noble.
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The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
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"Letting you all know that I have resigned as CEO of ??@BinanceUS," Brooks wrote on Twitter. "Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!"
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The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
Musk reaffirmed his belief that cryptocurrency has a “promising future” but that it “cannot come at great cost to the environment”, in his Twitter post.
DeFi stands for decentralised finance token. They are very complex but essentially aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.
Meanwhile, concerns were also mounting on Oct. 21 that leveraged traders have taken on more risk than they can chew.
Yet, trading on Binance.US obliges the customers to undergo the KYC (know your customer) procedure. First, the users are required to go through either of four types of verification available on the platform:
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Apple CEO Tim Cook says that while the tech giant is looking into cryptocurrencies, there are no immediate plans to adopt it as a form of payment on Apple Pay for the company's products. Rich millennials to financial advisers: Thanks for the golf invite, but you can’t invest my money
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