Serum (SRM) hits a new all-time high as Solana adoption gains traction

Decentralized finance (DeFi) has reshaped the face of the cryptocurrency market over the past year, attracting the attention of both institutional investors and retail traders alike as the traditional financial sector continues to warm up to blockchain technology.  While the majority of largest DeFi protocols that have a significant amount of volume and value locked in the platform operate on the Ethereum (ETH) network, high fees and slower transaction times have allowed projects like Serum (SRM), a decentralized exchange (DEX) that operates on the Solana (SOL) blockchain, to rise in…

Altcoins hit new highs after bulls kick Bitcoin price back above $50K

Cryptocurrency investors breathed a sigh of relief on April 26 as the sharp reversal in the price of Bitcoin (BTC) was accompanied by a market-wide recovery that has a majority of altcoins seeing green. It’s likely that the breakout was aided by bullish assessments from JPMorgan analysts and PayPal’s announcement that demand for purchasing cryptocurrencies had surpassed expectations.  Data from Cointelegraph Markets and TradingView shows that after bouncing off a low near $47,000 on Sunday evening, Bitcoin roared back above the $50,000 support level in the early trading hours on…

Tesla books huge profit from Bitcoin sale in Q1

Tesla Motors sold a portion of its Bitcoin (BTC) holdings in the first quarter of 2021, generating net proceeds of $272 million, the electric vehicle maker reported Monday. In a 30-page slide deck accompanying its quarterly financial results, Tesla noted a $101 million “positive impact” as a result of its Bitcoin sale: “Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in Restructuring & Other line), were…

Biden’s proposed capital gains tax rise will hit only richest 0.3%

Following major sell-offs in cryptocurrency markets amid reports of United States President Joe Biden’s capital gains tax rise proposal last week, the Biden administration defended nearly doubling tax levies for only the “very, very richest.” A senior Biden administration official claimed that only 0.3% of taxpayers in the U.S. would be affected by higher levies on their investments under the new capital tax plan. “There’s increasing evidence that over recent years in fact many, many of the returns at the very top are what they call above-market rates of return,…

Dogecoin Dev Passes Away, Leaving Seven Year Legacy

Key Takeaways One of Dogecoin’s most notable developers, Sporklin, passed away on Apr. 24 following a battle with cancer. She left the project earlier this year, both due to her health and due to disagreements on the direction of the project. Sporklin previously defended Dogecoin against those who believe the project has seen little significant development. Share this article One of Dogecoin’s most notable developers, Sporklin, has passed away, as revealed by Dogecoin creator Billy Marcus yesterday. Seven Years of Service Marcus wrote on Twitter that “Sporklin devoted the last…

Bitcoin options traders neutral after 28% BTC price dip

Bitcoin (BTC) might have recovered from the $47,000 low seen on April 25, but the subsequent 15% bounce was not enough to bring optimism to the BTC options markets. Even at the present $54,000 level, the price remains 17% below the $64,900 all-time high reached on April 14. The popular Crypto Fear & Greed Index reached its lowest level in 12 months, signaling thatinvestors are closer to “extreme fear,” which is a complete reversal from the “extreme greed” level seen on April 18. This indicator gathers data from price volatility,…

Eric Weinstein calls Bitcoin potential hedge against fiat catastrophe

Eric Weinstein, managing director of Thiel Capital and host of the popular podcast The Portal, urged his followers over the weekend not to get caught up in Bitcoin’s (BTC) daily fluctuations. He seemed to feel that it was wiser to focus on the cryptocurrency’s ability to hedge against currency debasement at the hands of central banks. Bitcoin and other “hard-money” assets like gold and silver could be sound alternatives to the “disguised actions” of central banks, Weinstein tweeted to his nearly 485,000 followers. “Figuring out how we hedge against central bankers…

Today marks the 10-year anniversary of Satoshi Nakamoto’s final message

Bitcoin (BTC) creator Satoshi Nakamoto left the cryptocurrency community with a parting message exactly one decade ago today: “I’ve moved on to other things.”  In the years since, Bitcoin has evolved from an obscure and esoteric project to a trillion-dollar financial asset drawing attention from governments, financial institutions, corporations and investors. Despite dozens of plausible theories, Nakamoto’s identity remains elusive and their estimated stash of 1 million BTC remains unmoved. With a current BTC price of around $54,000, Nakamoto’s projected fortune is roughly $54 billion. As Cointelegraph recently speculated, a…

Badger DAO and RenVM announce launch of BTC-on-Ethereum ‘Badger Bridge’

Decentralized finance (DeFi) protocols Badger DAO and RenVM have announced today the launch of “Badger Bridge,” a Bitcoin-to-Ethereum bridge that will allow BTC holders to bring their Bitcoin to Ethereum and deposit it into yield-bearing vaults purportedly with a single click.  “The Badger Bridge is the first of its kind to enable users to earn yield on their tokenized Bitcoin immediately, all while transacting within the same app. What used to be an arduous process to obtain yield on your Bitcoin is now just a few short clicks,” reads a…