The cryptocurrency market seems to have found direction, but it might not be the one you were hoping for. The vast majority of coins are under heavy losses, ranging from 3% to lows of 10%. Bitcoin’s price appears to have fallen decisively below the $10,000 level, though the fall is relatively mild so far.
Bitcoin (BTC) is often described as “digital gold”, but it could soon be described as “digital bonds.” New data suggest an interesting relationship developing between Bitcoin and the yields on government-issued debt.
Basic Attention Token is back under downside pressure as the broader cryptocurrency market slides lower, leaving the BAT / USD pair in a vulnerable technical position.
Atomic swaps are one of the most promising advances in decentralized technology: they’re a trustless method for peer to peer trading, without relying on a third party. These swaps rely on Hash Time-Locked Contracts, or HTLCs, which automatically execute or cancel a trade after a certain time limit. This ensures that neither side can default on the deal.
When Second Life went live in 2003, it became a pioneer of virtual property. Players could buy their own land, customize it, and explore the world. Since then, Second Life has gone the way of MySpace—but now, several blockchain-based games are trying to breathe new life into the virtual world genre.
Bakkt has finally opened its platform for physically-delivered Bitcoin futures, but the response has been underwhelming. Nearly a year after the owners of the New York Stock Exchange announced their foray into cryptocurrency, markets responded to the new institutional trading venue with another 1.8% price drop.
The world has been drunk on cheap money since the Global Financial Crisis, with low interest rates and other quantitative easing measures put in place by then-Fed Reserve Chair Alan Greenspan… and only very cautiously and slowly tightened by Ben Bernanke and Janet Yellen.
The GFC happened over ten years ago. Growth in the U.S. since then has been more Billy Joel and less Mick Jagger: sober and steady rather than raunchy and throbbing. But the economy has grown, despite a slowing Chinese economy and sluggishness on the European continent and in emerging markets.
Bakkt is finally open for futures trading, but Bitcoin’s spot market doesn’t seem to have taken notice. Average spot prices for the leading cryptocurrency have again fallen below $10,000.
The rest of the cryptocurrency market is likewise posting moderate losses this weekend. Ethereum fell by 4.45%, EOS by 5.85% and XRP by 6.81%. BNB continues its downward plunge with a -6.55% trading loss, while Tezos reconfirms itself as an outlier by posting a 5% gain.
Waves a staged an impressive double-digit upside rally as the new trading week gets underway, leaving the cryptocurrency on course to post its largest daily advance since early July this year. The recent rally has also helped the WAVES / USD pair to break through a series of key short-term moving averages.
SingularityNET is making friends in high places, as the company announces the completion of its collaborative project with Cisco. The two companies have worked on developing applied Artificial General Intelligence (AGI) algorithms, specifically with street traffic recognition.
All Rights Reserved. Copyright , Central Coast Communications, Inc.