Crypto

In 1921, American industrialist Henry Ford proposed the creation of an “energy currency” that could form the basis of a new monetary system — offering striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper.  Front page of the New York Tribune dated Sunday, December 4, 1921. Source: Library of Congress Bitcoin as an energy currency On Dec. 4, 1921, the New York Tribune published an article outlining Ford’s vision of replacing gold with an energy currency that he believed could break the banking elites’ grip on global wealth and put an end to wars. He intended to do this by building “the world’s greatest power plant” and creating a new currency system based on “units of power.” Ford, who founded Ford Motor Company in...

Online information flows have a tremendous influence on the prices of crypto assets. Just this week, investors witnessed how even fake news can sometimes make the market value of a token explode, even if for just an hour. Fortunately, the effects of legitimate news tends to last longer, but the trick for investors is to figure out which stories to look at when making trading decisions. Extensive research suggests that there are three types of news announcements that consistently affect crypto prices: exchange listings, staking program launches and new partnerships. While there hasn’t been a legitimate partnership announcement that resulted in massive price movements lately, two crypto assets benefitted immensely from last week’s listing and staking news. Specifically, the listing of ...

Maxime Bernier, founder and leader of the People’s Party of Canada, has said he supports the adoption of cryptocurrencies in the country. In a Tuesday tweet, Bernier said cryptocurrencies are “another new and innovative way” to counter the actions by central banks, which he claimed are “destroying our money and economy.” The Canadian politician has criticized the Bank of Canada for “printing money” and called out Prime Minister Justin Trudeau for his economic policies. Bernier, a former cabinet minister known by some as Mad Max, has been outspoken in his criticism of vaccine mandates in Canada at a time when the number of COVID-19 cases in the country continues to rise. He has also advocated for ending lockdowns and mask mandates and against the rollout of a vaccine passport system. ...

Solana (SOL) price extended its slide on Sept. 17 as a major network outage over the past week — pointing to heightened security risks — hit traders’ confidence. The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 on Sept 9. As a result, SOL’s price has crashed by almost 40% since its all-time high last week, despite more than tripling its value in the past 30 days. Outage hurts SOL price Solana backers tout its layer-1 blockchain solutions as a direct competitor to Ethereum. That is mainly due to its potential to ensure higher speed and lower transactions costs than the world’s leading smart contracts platform. However, on Sept. 14, Solana suffered a denial-of-service disruption, whe...

El Salvador now hosts the third-largest network of crypto ATMs after the United States and Canada, amounting to 70% of all crypto ATMs in South America. According to data from Coin ATM Radar, El Salvador has exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs to date to facilitate local Bitcoin transactions and BTC to U.S. dollar conversions.  Comparing this to Statista data from August 16, it becomes evident that El Salvador has successfully installed 201 ATMs in just one month. Beforehand, the country ranked 43rd on the list with just four functional crypto ATMs. [embedded content] President Nayib Bukele had previously stated that Bitcoin’s adoption would be initially supported by  a network of 200 ATMs and 50 branches. The Salvadorean government has...

BBC Russia has reported that Dmitry Vasiliev, the former chief of Russian cryptocurrency exchange Wex, has been arrested in Warsaw, Poland. Wex, which was previously known as BTC-e, was a well-known “dark” exchange in the early days of the cryptocurrency industry. It is alleged to have laundered funds for numerous high-profile crypto hacks, including the notorious Mt. Gox incident. Although Vasiliev is regarded as innocent within Poland’s jurisdiction, other countries such as Kazakhstan have an open fraud case against the elusive figure and as such, have reportedly engaged in discussions surrounding the possibility of extradition. It is understood that Vasiliev was detained on August 11 by Polish authorities, but the news was only uncovered by the Polish newspaper, Wyborc...

The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering securities licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency products. According to a Sept. 17 filing, the Texas regulator will be holding a hearing related to allegations that Celsius Network is offering and selling securities in Texas that are not registered or permitted in addition to not registering as a dealer under the state’s Securities Act. Should the judge accept that the platform’s offerings represented unlicensed securities, Celsius Network may be subject to a cease and desist order. On the sam...

The general mood across the cryptocurrency market is one of anticipation on Sept. 17 as the price of Bitcoin has traded in an increasingly tighter range over the past couple of days and looks to be coiling in preparation for a move one way or another.  Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has oscillated between $47,150 and $48,150 in trading on Friday as the lack of any major developments or headline-grabbing stories has led to a relatively flat day in the markets. BTC/USDT 1-day chart. Source: TradingView A recent report from Delphi Digital suggested that last week’s sudden drop in Bitcoin price caught the market off-guard and led to a significant drop in market sentiment from greed to fear, and BTC’s price performance over t...

One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory.  During the 2017–2018 bull market and initial coin offering (ICO) boom, which was driven by Ethereum network-based projects, all manner of small smart contract-oriented projects rallied thousands of percentage  to unexpected highs. During this time, projects like Bitcoin Cash (BCH), Litecoin (LTC), Monero (XMR) and ZCash (ZEC) also rotated in and out of the top 10 ranking, but to this day, investors still argue about which project...

2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863, and the DeFi and NFT sector made headlines around the world.  Crypto traders need to be wary of times like these because the notoriously volatile nature of the cryptocurrency market can see vast fortunes wiped out in a matter of hours or days once the trend shifts. According to Charlie Burton, veteran trader and the co-founder of Ezeetrader, this is when it is important for every trader to have a defined set of rules that they stick to when emotions begin to run hot because “we are all fallible, flawed human beings, especially in front of the markets.” Burton said, “We are naturally influenced by greed or fear to one propensity or another. So we absolutely ...

Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter. Despite Cardano founder Charles Hoskinson’s claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine. What you’re about to read is the smaller version of this newsletter designed for brevity. For the full version of DeFi’s developments over the last week — released a whole lot quicker than Cardano’s smart contracts — drop your email below. Buterin’s Time to Shine Ethereum founder Vitalik Buterin was listed in Time Magazine’s 100 most influential people of 2021 this week for his distinguished contributions to the growth of the Ethereum network to over $420 billion in market capitalization, as well as fosteri...

Bitcoin’s (BTC) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels.  By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines. On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike McGlone has maintained his target of $100,000 for Bitcoin. McGlone said that a number of different charts underline the bullish potential for Bitcoin. Daily cryptocurrency market performance. Source: Coin360 Along with Bitcoin, Ether (ETH) is also showing signs of accumulation. Crypto analytics provider IntoTheBlock said $1.2 billion worth of Ether was withdrawn within a 24-hour period from centralized exchanges on Sep...