There’s one thing that all investors like: doubling, tripling, or even quadrupling their money. How about a 12-fold increase? That’s what traders have reaped this year from the decentralized lender Aave’s LEND token, up about 1,200% on a year-to-date basis. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk […]
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In cryptocurrency markets, newfangled “decentralized exchanges” like Kyber are piddling compared with more-established and centralized venues like Binance. But in the eyes of traders, it’s the upstarts who are winning lately – at least based on the year-to-date performance of digital tokens affiliated with the various exchanges. Take Kyber Network […]
Bitcoin’s notorious volatility has practically disappeared during the most-recent phase of the coronavirus-induced economic crisis – and that’s now taking a toll on trading volumes at cryptocurrency exchanges around the world. For more than two months, bitcoin has stayed in a range between roughly $8,500 and $10,200, an astonishing stretch […]
Bitcoiners, already rocked by this year’s coronavirus-inflicted turbulence, face a fresh source of volatility as the market heads into the second half of 2020: the U.S. presidential elections. According to Deutsche Bank, Germany’s biggest lender, a reelection victory by President Donald Trump could threaten the U.S. dollar’s century-long reign as the world’s de […]
Bitcoin has traded in an ever-tightening range for two months, and digital-market analysts say a new wave of coronavirus cases and emergency measures could provoke the largest cryptocurrency by market cap out of the doldrums. The backdrop is an anemic economy, with the International Monetary Fund projecting last week that global output […]
Since the end of 2017, the assumed trajectory was that well-heeled financial institutions would take the reins from retail investors, becoming the main driving force and primary investor class in crypto. But a report out last week from derivatives exchange ZUBR argues that retail investors are not just here to stay, they […]
In the cryptocurrency markets, no two exchanges are alike. Even in major crypto exchanges, trading U.S. dollars for bitcoin can have fairly different order sizes and spreads, according to data compiled by aggregator CryptoCompare. Average order sizes over the past week were quite varied, CryptoCompare found. Orders on Bitstamp averaged […]
The speculative fervor surrounding the autonomous lender Compound’s new digital token rose another notch Thursday as its already relatively lofty price more than doubled in 24 hours. The rapid ascent of the COMP “governance” token comes as something a surprise given it was released just Monday and is still only trading on […]
As Ethereum pushes slowly toward a new type of blockchain technology that some cryptocurrency experts predict could represent the future of decentralized finance, the upstart competitor Cardano is getting ready to go live. And Cardano’s digital token, ADA, is soaring this year in digital-asset markets on speculation that the project’s early embrace […]
In a redux of trading from the early days of the coronavirus crisis in March, bitcoin tumbled Thursday in tandem with a sell-off on Wall Street – rekindling an ongoing debate over the cryptocurrency’s use as a store of value. Prices for bitcoin fell 6.37% to about $9,100, as the […]
Even idle speculation that mysterious bitcoin founder Satoshi Nakamoto might be moving around a small batch of the cryptocurrency appeared sufficient to spook the market on Wednesday. Bitcoin slid 2.3% on the day, retreating after a four-day rally and pushing the price down to about $9,500. You’re reading First Mover, CoinDesk’s daily markets […]
Bitcoin’s rally last week as the Standard & Poor’s 500 Index of U.S. stocks floundered served to underscore just how different the conversations are right now in digital asset markets and traditional finance. As high-profile investors including Stanley Druckenmiller and David Tepper were warning of looming bankruptcies, overvalued stocks and the increasingly distant chances of a rapid economic […]
Bitcoin is rallying again, and some analysts are looking at a potential driver of even higher prices: new data showing that mining pools are hanging onto the cryptocurrency rather than sending it to exchanges for a quick sale. But as with a lot of bitcoin analysis, the interpretation isn’t always […]
After bitcoin’s much-hyped halving failed to generate a price rally, crypto traders are already turning to a new bullish investment thesis: the possibility the Federal Reserve might cut its benchmark interest rate below zero. Fed Chair Jerome Powell said in a televised interview Wednesday that negative rates are “not something […]
Checking CoinDesk’s Bitcoin Price Index, you’d be forgiven for not seeing evidence that one of the largest events in the cryptocurrency industry’s history had taken place fewer than 48 hours ago. Wizened crypto greybeards (a status that really only takes about four years of experience in fast-moving digital-asset markets) were less surprised by the lack of price action […]
With fewer than four days left till bitcoin’s halving, popular interest in the once-every-four-years event is reaching a fever pitch. Google Trends, a barometer for gauging interest in trending search topics, shows searches for “halving” or “bitcoin halving” at five times the peak in 2016, when the blockchain underwent its previous halving event. You’re […]