Digital currency

Share to Twitter Share to Linkedin Bitcoin prices have bounced back lately, climbing more than 20% in under 48 hours after approaching the $25,000 level. The digital currency, which is the largest when measured in terms of total market value, climbed to nearly $31,000 earlier today, CoinDesk figures show. At this point, it was up 21.9% from the price of $25,402.04 it reached early the day before, additional CoinDesk data reveals. While the digital currency did manage to recover some of the gains it has lost recently, it is still down more than 50% from its all-time high of nearly $69,000 reached in November. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Several analysts offered explanations for these latest price movements, in addition to helping describe them relative to broader market trends. Investor … [Read more...] about Bitcoin Prices Rally More Than 20% After Market Rout-Here’s Why

U.S. equity markets wavered to begin the new month, reflecting investors' uncertainty over issues ranging from the impact of corporate earnings to how Fed rate hikes will shape the economy this year. UPS Inc. ( UPS ) is the best-performing stock in the S&P 500 on its earnings news. Better-than-expected earnings are also lifting shares of Exxon Mobil Corp. ( XOM ). That’s boosting shares of other energy companies as well. Shares of cruise lines, airlines, and other travel-related companies are advancing on decreasing omicron variant case numbers. Key Takeaways U.S. equity markets wavered to begin the new month, with all three major indexes fluctuating between green and red. The quit rate fell for the first time since Dec. 2020. Ups and downs reflect investors' uncertainty over issues ranging from the impact of corporate earnings, Fed rate hikes, and ongoing supply chain and pandemic concerns. The yield on the 10-year Treasury note has widened and narrowed … [Read more...] about Stocks Fluctuate to Begin Month as Investors Digest Data, Earnings

U.S. stocks again started the day mixed after a report said that U.S. retail and food services fell more than expected last month. Investors are also digesting a slew of quarterly earnings reports from banks, as JPMorgan Chase & Co. ( JPM ) and Citigroup Inc. ( C ) recorded income declines, while Wells Fargo & Company ( WFC ) said that profit jumped. The Dow Jones Industrial Average (DJIA) and the S&P 500 are poised to finish the week lower, while the Nasdaq may end up higher for the week. All three major indexes finished lower yesterday. Key Takeaways Stocks are mixed again this morning, with the Nasdaq gaining and the Dow and S&P 500 falling. Retail and food sales sank 1.9% in December, marking the biggest drop in 10 months. JPMorgan and Citigroup reported falling quarterly profit, while Wells Fargo reported fourth quarter profit that beat analysts' forecasts. The University of Michigan will release its Consumer Sentiment Index for … [Read more...] about Stocks Mixed as Retail Sales Drop Most in 10 Months

U.S. equity markets are falling, with the Nasdaq sinking deeper into correction territory as shares of streaming service providers drop. Key Takeaways U.S. equity markets are falling, on their way to further weekly declines, as the Nasdaq sinks deeper into correction territory. Shares of streaming service providers are dropping after Netflix reported slowing subscriber growth. Crude oil futures are falling for a second day. The yield on the 10-year Treasury note is sinking, now at 1.76%. Netflix, Inc. ( NFLX ) is the worst-performing stock in the S&P 500, with shares plunging on its slowing subscriber growth. The news is dragging down shares of The Walt Disney Company ( DIS ) and others in the online entertainment sector. Shares of smaller banks are continuing their week-long decline, led by Huntington Bancshares Incorporated ( HBAN ) following its earnings report. Shares of Intel Corporation ( INTC ) and other semiconductor companies are higher on … [Read more...] about Nasdaq Correction Deepens as Stocks Slide on Rate Concerns

Flow, one of the leading blockchains in the Web3 arena, has announced the launch of a new fund designed to spur innovation among those building apps, games, and digital assets in the Web3 space. advertisement Flow was originally developed by Dapper Labs, a Fast Company 2022 Most Innovative Company , and the company behind blockchain game hits like CryptoKitties and NBA Top Shot . Flow is currently the leading blockchain for NFT transactions. Flow’s new fund is called the Flow Ecosystem Fund and, with $725 million, is the largest ever joint endeavor aimed at expanding the blockchain ecosystem of any kind. The fund’s investors include Web3-investing heavyweights like a16z, Coatue, Union Square Ventures, Greenfield One, Coinfund, Digital Currency Group, and more. Flow says it will dole out the fund’s coffers to new and existing devs building products for the Flow blockchains, specifically focusing on those in the infrastructure, decentralized finance, gaming, … [Read more...] about Leading NFT blockchain Flow announces $725 million Ecosystem Fund to drive Web3 innovation

- A + A LONDON/MUMBAI (May 17): While the US extended its leading position as the dominant location for Bitcoin mining, China has reemerged as the second-largest locale despite a government ban on the activity last year. The US accounted for 37.84% of global hashrate, a measure of computing power used to extract the digital currency, between September 2021 to January, according to the Cambridge Centre for Alternative Finance, in a report released on Tuesday. The hashrate, also responsible for securing the Bitcoin network, has made a strong comeback to new highs after falling last year. Following the mining ban in China last year, the country has seen a sudden surge in activity through “covert mining operations” and has “re-emerged as a major mining hub” grabbing 21.11% of global hashrate, according to the CCAF. “This strongly suggests that significant underground mining activity has formed in the country, which empirically confirms what industry insiders have long … [Read more...] about China makes a comeback in Bitcoin mining despite government ban

Share to Twitter Share to Linkedin P oker chips, high stakes, and big money. Throughout last week, a few yards away from the Caribbean's largest casino in the Bahamian capital, Nassau, about 2,000 people gathered at the Baha Mar resort’s convention center to discuss cryptocurrencies and the next iteration of the World Wide Web a.k.a Web3. Just last month, a similar albeit much larger crowd took over Miami Beach to pay homage to the invention that started it all—bitcoin. But if the 25,000-person expo in South Florida felt like Coachella for the bitcoin faithful , the latest summit, dubbed “Crypto Bahamas”, inched closer in resemblance to the World Economic Forum’s Davos conference, not minding the casual dress code. Pretty much everyone from CEOs to developers wore flip-flops, sneakers, and t-shirts bearing slogans such as “NFTs are a scam” and “Burnt Finance”. Co-organized by billionaire Sam Bankman-Fried’s crypto derivatives exchange FTX and the … [Read more...] about Royal Flush: Inside Crypto’s Most Exclusive Gathering

What Is Storj? Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. The Storj network is powered by computers worldwide called nodes and requires the Storj ( STORJ ) digital currency for payment. Storj was founded in 2014 and operates with more than 10,000 active nodes with over six petabytes of available storage capacity. Users pay for storage space with the Storj token, an ERC-20 token that works on the Ethereum blockchain. As of this writing, the total value of Storj tokens is more than $200 million, making it a top 150 digital currency by market capitalization . Key Takeaways Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. Use cases include video storage and streaming, software distribution, backups, and cloud-native apps. The Storj cryptocurrency operates on the Ethereum network, which means anyone with an Ethereum wallet can buy, sell, or … [Read more...] about Storj (STORJ) Cryptocurrency Definition

An illustration picture taken in London on December 30, 2021, shows gold plated souvenir cryptocurrency coins arranged by a screen displaying a NFT (Non-Fungible Token) logo. [AFP/YONHAP] The possibility of earning non-fungible tokens (NFT) in virtual gaming worlds shook the market and led to a rapid increase in the stock prices of a number of companies, until it became apparent that NFTs may be stuck in these virtual worlds. NFTs are unique, irreplaceable and irreproducible digital objects that represent the digital ownership of assets. The tokens are backed by blockchain technology to give buyers proof of ownership. Since late last year, a number of game companies have been contemplating the addition of NFTs to their games. The tokens could be discovered during gameplay, or points won by players could be redeemed for the tokens. The innovation raised the possibility of a useful workaround to a Korean law that prevents gamers from turning points earned in the gaming world … [Read more...] about Korean law on gamers may make metaverse useless

Cryptocurrencies have taken a beating this year. As Gizmodo reports , many have lost up to half their value within the last six months alone. But the beating that crypto is taking in 2022 is affecting more than just the digital coins themselves: In the wake of Coinbase’s most recent quarterly earnings, we now know that some crypto trading platforms are also underperforming. advertisement Yesterday after the bell, Coinbase Global (Nasdaq: COIN) announced its Q1 2022 earnings. The results were not good and sent COIN stock plummeting. As of the time of this writing, COIN is down over 14.5% to $62.33 in pre-market trading. That’s an all-time low for Coinbase, which peaked at just over $319 last October. The company went public in a much-hyped direct listing a little over a year ago, the first major crypto exchange to list on U.S. markets. So, what sent COIN stock crashing? As CNBC reports , revenue fell 27% from a year ago. That decline was led by fewer users … [Read more...] about Why is Coinbase crashing? COIN stock hits all-time low as crypto trading sinks