Day: April 16, 2021

ETH bonanza as three North American Ethereum ETFs approved in one day

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While gaining exposure might still be difficult south of the US-Canada border, Canadian investors will shortly have a host of options to choose from to gain exposure to Ethereum (ETH) via an ETF as regulators have approved three different Ethereum ETFs in a single day.  Purpose Investments, Evolve ETFs, and CI Global Asset Management were all approved by Canadian regulators to launch Ethereum-backed ETFs today. The ETFs will be the first ETH ETFs in North America, and among the first in the world.  Some observers noted that all three being…

Protocol upgrades and Google Cloud integration lift EOS price 245% in 2021

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On April 16 EOS price soared to a new high at $8.49 and the current market structure for the altcoin suggests there is room for further upside. EOS initially made headlines during the ICO craze of 2018 when its parent company Block.one raised a record $4 billion in funding to create the EOSIO software and in the past three months, the altcoin has nearly tripled in value.  Data from Cointelegraph Markets and TradingView shows that since trading at a low of $2.43 on Jan. 27, the price of EOS has…

BTC, ETH, BNB, XRP, DOGE, ADA, DOT, LTC, UNI, LINK

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Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017. Rallies like the one seen in Dogecoin indicate that several traders have entered the fray and are looking to get rich overnight. The only…

Binance Burns $600 Million Worth of BNB Tokens

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Key Takeaways Binance has completed its fifteenth quarterly Binance Coin (BNB) burn, a regular practice that keeps the coin’s value strong. The burn removed more than 1 million BNB from circulation, an amount worth more than $600 million. This could push the price of BNB to a new all-time high of $750. Share this article Binance has burned more than $600 million U.S. dollars worth of Binance Coin (BNB), setting the cryptocurrency up for further gains.  Over 1 Million Tokens Burned  The world’s largest cryptocurrency exchange by trading volume, Binance,…

Cardano Leader Calls Dogecoin Bubble Dangerous

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Key Takeaways Cardano leader Charles Hoskinson has warned that Dogecoin’s recent market rally could have a negative outcome. He suggests that the Dogecoin bubble could attract attention from lawmakers and regulators if and when it bursts. Hoskinson even promoted Cardano competitors such as Ethereum 2.0 and Algorand as strong alternatives to Dogecoin. Share this article Charles Hoskinson, creator of Cardano and CEO of IOHK, has criticized Dogecoin’s rapidly rising market value. Hoskinson Says Prices Are Unsustainable Continuing on from its recent price performance, Dogecoin has seen a 124% price gain…

What the forks? Bitcoin Cash and Ethereum Classic see triple-digit rallies

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It’s undeniable that Bitcoin (BTC) and Ethereum (ETH) are currently the two most dominant cryptocurrencies and as a result they receive the most of the attention from the mainstream media, institutional investors, and retail investors, but this doesn’t mean that the sector leaders are not occasionally challenged by competitor networks. Two forked projects that once sought to challenge Bitcoin and Ethereum for their seats at the top are Bitcoin Cash (BCH) and Ethereum Classic (ETC). In the past week, both tokens have demonstrated that they are still capable of generating…

Trading apps usurp TikTok in popularity

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Two trading apps have risen to the top of Apple’s App Store in recent days. Robinhood holds the number one position, with Coinbase in second, at time of publication on Friday. In third: popular social media platform TikTok. YouTube, Instagram and Snapchat hold the fourth, fifth and sixth positions respectively. One possible conclusion? Folks are now more interested in swapping crypto and financial assets than they are in interacting on various social media platforms — a conclusion noted by CNBC in an article on Friday. Robinhood saw significant coverage in January when…

Bitcoin caught in the crossfire as Turkish opposition leader voices support

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Shortly after a Friday morning “diktat” from Turkey’s freshly-appointed central bank governor that effectively banned any and all use of cryptocurrency in the country, Bitcoin now appears caught in a partisan dustup as a Turkish opposition party leader has voiced support for the digital currency.  As reported by Cointelegraph, Turkey’s central bank announced this morning that, starting on April 30th, any cryptocurrency payments and fiat-to-crypto onramp transactions will be rendered illegal. Additionally, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be prohibited.…

Ethereum bulls hedge their bets ahead of next week’s $250M ETH options expiry

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Ether (ETH) paved the way for lower transaction costs with the Berlin upgrade on April 15. However, traders already know that the Ethereum Improvement Proposal 1559 is the most anticipated and controversial change scheduled for the upcoming London hard fork. The EIP introduces a base fee that will be burned when a transaction occurs, while miners receive a tip for validating transactions. This move would severely pressure miners’ earnings, but the proposal aims to tame the skyrocketing gas fees that have plagued the network for the past two years. The…

Scaramucci surprised at lack of banking response to Coinbase listing

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After much anticipation, Coinbase listed on the Nasdaq on Wednesday via a direct listing. Skybridge founder Anthony Scaramucci thinks the event should have been met with more attention from banks.  “What I’m surprised about frankly is there isn’t a wake-up call at the banks, the commercial banks, like there was for the Netscape IPO in 1995 at microsoft,” Scaramucci told CNBC on Friday after noting Coinbase’s connection with Bitcoin, in line with the asset’s growth and technical framework. He added: “Bill Gates thought the internet was a fad. He then…