The economist David Dodge, the former seventh governor of the Bank of Canada, says gold is an “antique instrument,” and he believes Canada’s central bank got rid of its gold reserves for this very reason. Despite saying gold is an outdated financial tool, Dodge said that the leading crypto asset bitcoin (BTC) has no place
The global economy is becoming increasingly digital, and it’s no surprise that cryptocurrencies and blockchain technology are starting to have an impact on the travel industry. Many travel agencies now accept Bitcoin (BTC) and other digital currencies as payment, with some even providing discounts to customers who pay in cryptocurrency. Here is a list of
Equities markets in the United States rallied sharply on May 25 and May 26 but Bitcoin (BTC) and altcoins have not followed a similar trajectory. This suggests that traders are not confident that the crypto markets have bottomed out yet. On-chain analytics firm Glassnode said that the number of Bitcoin whales has been reducing and
sponsored UK-based StableOne’s newest venture, an app called StableFund, is spearheading a new outlook on crypto. This innovative app is all set to make the lives of crypto investors a lot better. Built on the Polygon chain and powered by sophisticated technology, this state-of-the-art AI trading bot is full of promise. StableFund gives users a
Ethereum has been on a downtrend along with the rest of the crypto market. This has seen the value of the cryptocurrency plunged below $2,000 and efforts to recover above this major resistance level have been futile. Naturally, the decline in the value of the digital asset has affected its profitability. What has resulted from
Following two consecutive sessions of declines, DOT saw its price rebound on Friday, as it moved away from a multi-week low. While DOT rose away from these lows, RUNE dropped, with the token falling towards them. Prices of RUNE are down by over 10% as of writing. Polkadot (DOT) DOT was a notable mover during
The Russian Federation is reportedly considering accepting cryptocurrencies for international payments in response to Western sanctions against the country that were prompted by its full-scale invasion of Ukraine earlier this year. The Moscow-based Interfax news agency and Reuters reported Friday that Ivan Chebeskov, who heads the financial policy division within Russia’s finance ministry, is actively
The collapse of the Terra ecosystem, which subsequently depegged its algorithmic stablecoin TerraUSD (UST) value and crashed it to an all-time low of $0.30, has cast doubt over the future of not just algorithmic stablecoins but all stablecoins in general. UST’s success and stability were intertwined with its sibling, LUNA, which creates arbitrage opportunities that,
Bitcoin (BTC) clung to $29,000 at the May 27 Wall Street open as crucial support levels lay just hundreds of dollars from spot price. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Trader demands higher low above $28,000 Data from Cointelegraph Markets Pro and TradingView confirmed volatility once again waning in a frustrating week’s price action. BTC/USD
Bitcoin (BTC) is regaining its lost crypto market dominance even as it trades nearly 60% below its record highs. Bitcoin dominance at 6-month highs The Bitcoin Market Dominance (BTC.D) index, a metric that weighs BTC’s market capitalization against the rest of the cryptocurrency market, jumped to around 47% on May 27, its highest since October
