Earlier this week, analysts with the cryptocurrency analysis firm Arcane Research were musing that new developments appeared to have slowed in the fast-growing blockchain arena of decentralized finance, known as DeFi. But they predicted any lull was likely to be temporary. “A new boost for DeFi tokens could be right around […]
Bradley Keoun
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Blockchain-based lending and trading systems known as “decentralized finance,” or DeFi, have dominated recent cryptocurrency-market headlines, with collateral locked into the semi-automated platforms surging 10-fold this year to more than $9 billion. DeFi trading platforms like Uniswap, Curve and Balancer have appealed to cryptocurrency traders with their low cost and ease of use, and they’re now starting […]
One of the interesting things about cryptocurrency investors is that they really do look at the world very differently from many of their counterparts in traditional finance. The thinking goes something like this: The efforts of governments and central banks to repair the economy are doomed to fail, and likely to […]
This column has written in recent weeks about the surprising possibility that cryptocurrency markets might have become the new home for capitalism, in an environment where central banks and governments are intervening deeply in markets while picking corporate winners via emergency aid. If anything, the ridiculousness of the recent weeks’ saga involving the deliciously […]
Bitcoin was rising for a second straight day, to about $10,281, after a rapid sell-off earlier in the week. “In a flash, investors have gone from running for the hills to buying the dip,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, told clients in an […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money […]
Bitcoin prices tumbled 6.2% Thursday, falling below $11,000 for the first time in a month. The price drop trimmed the largest cryptocurrency’s 2020 rally to 50% and sent digital-asset market traders and analysts scrambling to explain the sell-off. Here are three reasons cited by analysts: 1. Bitcoin slid in sync […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money […]
Price point Bitcoin was rising along with gold and U.S. stock futures early Friday as traders reacted to Federal Reserve Chair Jerome Powell’s plan to let inflation run hot in coming years as the economy heals from the coronavirus-induced recession. The largest cryptocurrency, seen by some investors as a hedge against inflation, […]
A speech by Federal Reserve Chair Jerome Powell scheduled for Thursday offers a reminder of just how dramatically once-slow-moving monetary forces have accelerated due to the devastating economic toll of the coronavirus pandemic. This time last year, President Donald Trump was vehemently criticizing Powell on Twitter for setting interest rates […]
Market moves The explosive growth of decentralized finance, or DeFi, on the Ethereum blockchain has brought unwanted attention to the recent surge in congestion on the network, with a resulting jump in transaction fees. There’s another consequence for crypto traders: Rising volatility in prices for ether, the blockchain’s native cryptocurrency. […]
Price point Bitcoin was up slightly at about $11,776 early Monday, rising along with European equities, stock futures, gold, copper and oil amid optimism over a coronavirus vaccine and treatments. The dollar weakened. The largest cryptocurrency is coming off a 2.2% decline in the seven days through Aug. 23, breaking a […]
Price Point Bitcoin was slightly lower early Friday, leaving the cryptocurrency on track for its first weekly price decline since mid-July. The largest cryptocurrency broke above $12,000 earlier in the week and failed to hold the gains, though John Willock, CEO of crypto asset manager Tritum, told CoinDesk Thursday that “maybe we’ve got […]
Price Point Bitcoin traded slightly higher early Thursday at $11,772 after falling for two straight days. The largest cryptocurrency by market capitalization has declined 1.3% this week as the U.S. dollar strengthened in foreign exchange markets. The greenback gained support Wednesday as the Federal Reserve said it wasn’t immediately planning […]
Price Point It’s been two steps forward, one step back for bitcoin (BTC) over the past couple months. Prices were down early Wednesday for a second straight day after pushing earlier this week past $12,000 to a new 2020 high. The price move accelerated as traders got hit with margin calls on the […]
PRICE POINT Bitcoin (BTC) was flat after jumping on Monday to a new 2020 high above $12,400. Analysts are now speculating whether the largest cryptocurrency can hold the higher ground. The latest move up came on high volume, and it was a “convincing break,” Denis Vinokourov, head of research for the […]
Price Point Bitcoin was mostly subdued over the weekend, staying in its recent range between $11,000 and $12,000. Ether, trading around $430, is looking to extend a run of four straight weeks of gains during which prices have nearly doubled. In traditional markets, U.S. equity futures and European stocks advanced, after […]
Bitcoin climbed above $12,000 early Monday, before dipping once more, as traders weighed U.S. President Donald Trump’s move to provide emergency aid amid new signs that the labor market recovery is stalling. The oldest and largest cryptocurrency is up 63% on the year. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled […]
The Federal Reserve appears ready to pursue yet another untested strategy that could ultimately boost inflation – and possibly prices for bitcoin. The Fed is “preparing to effectively abandon its strategy of pre-emptively lifting interest rates to head off higher inflation,” according to a new report in the Wall Street Journal. The shift signals […]
Crypto traders didn’t need to work too hard to make money last month. They just had to be in the market. Every digital asset in the CoinDesk 20 ended the month in the black. Bitcoin benefited from bets against the U.S. dollar while ether, the native cryptocurrency of the Ethereum […]
After a two-day closed-door meeting this week, the Federal Reserve issued a six-paragraph statement on Wednesday and held an hour-long press conference. None of that was news, of course, and neither was anything else emanating from the U.S. central bank, which announced no policy changes. You’re reading First Mover, CoinDesk’s daily […]
The Federal Reserve said Wednesday it would hold benchmark U.S. interest rates close to zero and continue buying Treasury bonds to support the coronavirus-devastated economy. Source link