Such volatility in crypto markets is nothing new. With no formal structure and countless competing exchanges, trading in the digital currency is still akin to settling out in the old American West. Earlier this month, decentralized finance platform Synthetify was forced to halt all trading due to a bug in the platform that provides pricing data. The same software responsible for Synthetify’s troubles was also blamed for a September Bitcoin crash.
Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
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Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
President of Islamic Development Bank, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, World Bank Group respectively.
We explain what you need to know about SafeMoon and how its price is predicted to change in 2021.
If you are worried about possible scams – funny enough DogeZilla claims it aims to make the crypto space safer for users.
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. Whereas the total crypto market volume over the last 24 hours is $134.45 billion, which makes a 5.79% increase. Bitcoin (BTC) $66,551 Ethereum (ETH) $4,740 Binance Coin (BNB) $638 Cardano (ADA) $1.24 Tether (USDT) $1 Solana (SOL) $240 Ripple (XRP) $1.24 Polkadot (DOT) $50.48 Dogecoin (DOGE) $0.27 USD Coin (USDC) $1
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The majority of cryptocurrencies function without the backing of a central bank or government. Instead of relying on government guarantees, decentralized technology called blockchain underpins the operation of cryptocurrencies.
Blocto, the NFT and crypto wallet has confirmed that the Dallas Mavericks owner and serial investor Mark Cuban has invested in the company.
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.
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As its name suggests, you can use cryptocurrency to make purchases. But your purchasing power is limited; crypto isn’t yet widely accepted among retailers and other businesses.
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