Bitcoin Extends Rally as Trading Volume for CME Futures Hits Three-Week High
Trading activity for bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) has picked up pace as bitcoin has extended its recent rally to levels above $7,200. CME traded $347 million worth of futures contracts Thursday – the highest since March 16. On that day, futures witnessed a trading volume of $414 million, according to data […]
Crypto Market Sentiment Improves for the Second Week in a Row
The market sentiment has seen an improvement for the second week in a row. The combined moving average 7-day market sentiment measure, sentscore, for the top 10 coins, is up this week to 4.73, compared to last week’s 4.33/10, shows crypto market sentiment analysis service Omenics. Today we find all coins in the green for the past week, […]
Bitcoin Is a Safe Haven for a Worse Storm Than This
Bitcoin (BTC) was designed for many reasons, but one of the most important was to be a safe-haven asset during times of financial distress. From the genesis block’s coinbase parameter (“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”) to today, bitcoin’s fans have treated it as something worth owning when the market goes […]
Emin Gun Sirer’s AVA Labs Seeks Wall Street Business After Open Sourcing ‘Avalanche’ Protocol
AVA Labs, the first project building on the “Avalanche protocol” blockchain network, is looking to modernize financial infrastructure. As first envisioned in a 2018 white paper by the pseudonymous “Team Rocket,” Avalanche protocol uses random network sampling to reach consensus. But it is AVA Labs’ ambition in building new infrastructure for the financial markets that now drives the […]
Bitcoin, Gold Spike as Fed Unveils Unlimited Coronavirus Stimulus Package
Bitcoin’s (BTC) price shot up along with gold and stock futures after the U.S. Federal Reserve announced a quantitative easing package with no upper limit to support the economy amid the coronavirus crisis. Immediately after the 12:00 UTC announcement, bitcoin jumped from $5,860 to $6,628 in an hour, according to CoinDesk’s Bitcoin Price Index. Gold, a […]
Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K
Bitcoin’s (BTC) price recovery gathered pace on Friday, helping the cryptocurrency erase a significant chunk of the recent drop. The top cryptocurrency by market value jumped to an eight-day high of $6,943 at 10:30 UTC, having started rising from $5,400 Thursday, according to CoinDesk’s Bitcoin Price Index. The solid gains have seen bitcoin claw back a […]
Ventilators, Crowdsourcing, VR: How Crypto Is Helping During the Coronavirus Crisis (Updated)
Well, that escalated quickly. As we catch our breaths with the pace of COVID-19-related disruptions and happenings, this post will update frequently with the latest perspectives, support efforts and information from the blockchain community at large. Have something to add? Tweet at @CoinDesk with #CoronaEfforts. Perspective: Matthew Graham, CEO, Sino Global Capital “The COVID-19 quarantine has been […]
Bitcoin’s Computing Power Is Growing Again After Coronavirus-Related Disruption
The computer processing power of the bitcoin network is growing again – albeit slowly – as major Chinese miner manufacturers gradually resume business after the coronavirus outbreak delayed shipments. The average hashing power on bitcoin (BTC) over the past seven days has reached a new high of around 117.5 exahashes per second (EH/s), up 5.4 percent from […]
Bitcoin To Explode By 80% Before Halving According to Past Cycle Comparison
Bitcoin and other cryptocurrencies are having a strong year thus far, however, the rally is only expected to continue with the asset’s halving on the horizon this May. But how much could Bitcoin spike ahead of the monumental event? According to historical analysis of previous market cycles in comparison to where the market may be right now, it suggests that […]
Never Mind Hodlers, Crypto Needs More Opportunist Investors
Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities. Carl Icahn is famous for moving in and out of […]