CBDC a ‘very high priority’ to combat bad private sector money

Cryptocurrency stablecoins could become systemically important overnight, says United States Federal Reserve Chairman Jerome Powell, and that’s why the Fed is determined to get its own central bank digital currency right. CBDCs are the banking industry’s answer to cryptocurrency stablecoins. While they are often hosted on the blockchain, they share little in the way of philosophical parity with their decentralized counterparts. CBDCs will be overseen by the banks that issue them and will be regulated under the laws of their respective jurisdictions. Speaking in an interview with Yahoo Finance, Powell…

Bitcoin chases new high as analyst says ‘smart money never stopped’ buying

The total cryptocurrency market capitalization is back above the $1 trillion level as Bitcoin (BTC) bulls pushed the price back to $40,000 on Jan. 14. Daily cryptocurrency market performance. Source: Coin360 Bitcoin price rallied to $40,099 in the early trading hours on Jan. 14 according to data from Cointelegraph Markets and TradingView before pulling back to $39,500. This marks a rapid turnaround from the recent drop below $31,000 and shows that professional and retail traders are keen to see BTC price rise higher despite this week’s massive $1.5 billion liquidation.…

Ethereum eyes new all-time high after bears unable to sink ETH below $900

Bitcoin’s (BTC) price saw a significant 28% correction during the week from $41,000 to $30,000. At the same time, Ether (ETH) also saw a drop of 32%. The recent high for ETH/USD was $1,350 — or about $70 shy of the all-time high — while the recent low was seen at $910. January has seen heavy volatility in the crypto markets. The sentiment has been flipping from euphoria to depression and back again. However, the market is still in a bull market even if another correction occurs. In that regard,…

Crypto Trading on PayPal Hits All-Time High as Retail Returns

Key Takeaways itBit saw $242 million in daily volume yesterday, its highest ever. The exchange processes PayPal’s crypto transactions. The crypto market suffered a sharp downturn yesterday, with Bitcoin and Ether plummeting over 20%. Several indicators suggest that retail investors are contributing to the recent surge. Share this article PayPal’s exchange service itBit registered $242 million in daily volume yesterday, its highest ever by a significant margin.  PayPal’s Crypto Offering in Demand  PayPal’s crypto service is experiencing its highest usage ever.  According to data from crypto analytics site Nomics, itBit…

Speed vs quality? Ethereum 2.0 optimism is high, but the road is long

Ethereum has consistently followed a roadmap for its continual evolution to a proof-of-stake consensus protocol, and 2020 saw the groundwork for Ethereum 2.0 soundly laid. The smart contract blockchain has firmly established itself as a platform backed by the second-most valuable cryptocurrency in the world, Ether (ETH), and has become a primary resource for developers to build blockchain-based applications and tools. The emergence of the decentralized finance sector has been largely built on top of the Ethereum blockchain, adding credence to the platform’s decentralized functionality. The surge in the use…

Bitcoin price volatility spikes as BTC whales sell each new high

Bitcoin price has re-established the $40,000 level as support but as bull push toward a new all-time high the possibility of another sharp sell-off looms. According to analysts at Material Indicators, a crypto analytics company, mega-whales sold off steeply when Bitcoin hit $40,000 on Jan. 7. This led to a quick 10% drop to the $36,000 area over the next few hours. The dip was quickly bought up, eventually pushing the price above $41,000 in the next 12 hours. However, BTC saw another large drop after setting another all-time high…

Google searches for ‘Ethereum’ hit all-time high

More people are searching for the word “Ethereum” now than ever before in its history.  Google Trends reveals that the number of Google searches currently being performed for “Ethereum” is at an all-time high, eclipsing search interest during the height of the last ETH bull run. Ethereum’s previous peak in search term popularity was on Jan. 13, 2018 — the date of ETH’s all-time high of $1,432.88. Google Trends Worldwide Search Interest for #Ethereum projected to reach an all-time high: pic.twitter.com/oisOk9HhoD — Michael Vincent (@mmichaels_21) January 7, 2021 Historically considered…

Bitcoin’s ‘real’ volume doubles previous all-time high

Bitcoin’s meteoric rally to $40,000 has seen BTC smash its previous all-time high for ‘real’ volume by roughly 100%. On Jan. 7, Quantum Economics founder Mati Greenspan shared a chart showing that weekly spot volume has surged to double its previous high — according to Messari’s “real volume” metric — with more than $60 billion worth of BTC changing hands over the past seven days. Messari’s “Real” volume metric was launched to aggregate and adjust the volumes of the top exchanges it believes report legitimate activity — Binance, Bitfinex, Bitflyer,…

Warp speed to $2,000? Watch these levels as Ethereum nears all-time high

Bitcoin (BTC) is currently approaching $40,000 after seeing massive gains in the first seven days of 2021. This is a 100% move up from the previous all-time high in December 2017. In other words, the price levels it took Bitcoin three years to recoup have now nearly doubled in a matter of weeks. ETH, BTC price gains, January 2021. Source: Digital Assets Data  Meanwhile, the price of Ether (ETH) has surged by more than 100% in three weeks. However, it is yet to break its all-time high of roughly $1,420…

XRP price soars 55% to ‘crucial’ level as Bitcoin notches new high at $38.5K

Bitcoin (BTC) continued its habit of hitting all-time highs almost every day on Jan. 7 as bulls took the largest cryptocurrency above $38,000. Cryptocurrency market overview. Source: Coin360 BTC price passes $38,500 Data from Cointelegraph Markets, Coin360 and TradingView followed BTC/USD as it took out another hurdle on the way to the psychologically significant $40,000 milestone. On Thursday, gains had accelerated, with Bitcoin investors seeing 24-hour returns of 11.5%. Just a week ago at the start of the year, Bitcoin traded at $28,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView…