Day: May 16, 2021

Here’s how Bitcoin’s intraday volatility complicates leverage trading

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The crypto sector is in a bull market, and frequent evidence comes from anonymous traders who post their five-, six- and seven-figure investment returns as screenshots on Crypto Twitter. This condition creates a FOMO-like situation where everyone gets greedy. The temptation to boost potential earnings by twenty times or more is often irresistible for most novice traders. Today, almost every cryptocurrency exchange offers leveraged trading using derivatives. To enter these markets, a trader has to first deposit collateral (margin), which is usually a stablecoin or Bitcoin (BTC). However, unlike spot…

Bitcoin crisis, Elon Musk criticized, Ether thrives, Dogecoin survives: Hodler’s Digest, May 9–15

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin loses 6% in an hour after Tesla drops payments over carbon concerns Already losing dominance in the crypto rankings as altcoins were gaining strength, things went from bad to worse for Bitcoin this week as Elon Musk made a shock announcement. On Twitter, the…

Bitcoin slips below $46K as correction deepens; institutions keep accumulating

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Bitcoin (BTC) price slipped below $46,000 on Sunday for the second time in four days, raising the specter of a deeper short-term correction for the flagship digital currency. Bitcoin fell to a session low of $45,127.01, according to TradingView, before staging a modest recovery to around $45,400. The largest cryptocurrency by market capitalization is down 5% on the day and over 20% in the last seven days. The Bitcoin price braces for short-term volatility. Source: TradingView The selloff in BTC contributed to a market-wide correction for crypto assets, as Ethereum…

Caitlin Long reveals the ‘real reason’ people are selling crypto

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The founder and CEO of Avanti Financial is claiming Tether’s recent disclosure about the stablecoin’s reserves may have contributed to the altcoin selloffs last week. In a series of Saturday tweets, Caitlin Long said that Tether Holdings Limited’s breakdown of Tether’s (USDT) reserves were not invested in “short-term, lower-risk, liquid securities,” but rather credit assets of “who-knows-what quality.” The Avanti CEO claimed traders may have felt compelled to sell other cryptocurrencies to reduce their total risk exposure, given that the stablecoin — ranked sixth with a $58 billion market cap…

Solana pumps to all-time high as Bitcoin, altcoins lag

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Solana’s native SOL token is charting new highs on Sunday, gaining in U.S. dollars and in Bitcoin (BTC) on the back of growing network adoption and a key technical breakthrough.  The SOL token peaked at $52.42 on Sunday, according to TradingView, having gained 24% over the 24-hour trading cycle. That marked a new all-time high for SOL and the first definitive break above the psychological $50 level. As Cointelegraph previously reported, Solana rallied to a high of $49.99 on May 2 before losing some of its momentum. The $50 target…

What investors need to know

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Just this week, Ether (ETH) breached the $4,000 mark while Bitcoin (BTC), the world’s most popular cryptocurrency, recently hit another all-time high at over $63,000. Meanwhile, Dogecoin (DOGE) continues its roller-coaster ride after “Dogefather” Elon Musk’s appearance on Saturday Night Live and news about digital artwork fetching eye-watering prices in the form of nonfungible tokens is all over the airwaves. Crypto is hot, whether you like it or not. Still, not everyone is convinced. Janet Yellen, the newly-minted United States secretary of the treasury, previously questioned the legitimacy and stability…

Inflation winds stiffen as Bitcoin ballast on balance sheets proves its value

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As corporate finance leaders prepare to set sail into the post-COVID-19 world amid inflation storm warnings, an increasing number of corporations are taking stock of their treasury reserve holdings. If the worst happens, and the dollar and other reserve currencies weaken, are they sure that all their balance-sheet cash is lashed down securely? It surely hasn’t escaped their notice, after all, that a number of public companies that “joined” Bitcoin (BTC) in a big way over the past year recently broadcast strong Q1 2021 earnings. Square, which holds $472 million…

FATF draft guidance targets DeFi with compliance

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The decentralized finance, or DeFi, space exploded over the last year, with a total value locked in DeFi of around $90 billion, according to DeBank. The DeFi ecosystem includes projects like Maker, Aave, Compound, Uniswap and more, with new ones rapidly emerging. DeFi is a broad concept to describe an emerging area of finance built using decentralized technological tools and characterized by being open, permissionless, disintermediated and with no single point of failure.  The spectrum of DeFi is broad, and the exact degree and mixture of various technological and governance…

Blockchain events make an in-person return

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The year 2020, for most of the inhabitants of our planet, was passed in lockdowns or quarantine due to the COVID-19 pandemic; many were forced to stay at home. Social events were canceled or postponed, and entire sectors of the world economy suffered huge losses.  The start of this year wasn’t any better, as governments across the globe are still forced to restrict events and activities to combat the spread of the disease. But there are industries that did not lose out over the past year. Cryptocurrency and blockchain technology,…