Skybridge Capital’s founder says bitcoin’s fair market value is about $40,000 based on adoption, wallet size, use cases, and growth of wallets. The asset management firm also estimated ethereum’s fair market value at around $2,800. Skybridge Capital on the Fair Values of Bitcoin and Ethereum Anthony Scaramucci, founder and managing partner at global asset management
The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form 1040 is the
Ethereum (ETH) price overshoots above $1,700 hinting a bullish momentum. And everyone was blown away. James Seyffart, Bloomberg Intelligence research analyst, was impressed: “Ethereum just flew right through resistance there.” Bitcoin, Ethereum, and other cryptocurrencies have soared following the Fed interest rate hike of 0.75%. It was indeed an optimistic kind of domino effect for
On-chain data shows the Ethereum exchange inflows have declined to low values recently, a sign that could be bullish for the crypto’s price. Ethereum 7-day MA Exchange Inflows Have Gone Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the ETH price has been reversing up as the PoS merge
The Ethereum community has been anticipating the move from the Proof-of-Work (PoW) to the Proof-of-Stake mechanism. Luckily for everyone, the Merge will soon occur, and reports show that the developers are approaching the final test phase before the significant event. Tim Beiko, the lead developer on Ethereum, disclosed these details on July 28. According to
The Ethereum “Merge” has become a hot topic among top crypto analysts after the incident that led to the collapse of the Ethereum network in the sale of Otherside by Yuga labs, with nearly $200M lost as gas fees. Related Reading: Proof of Work Vs Proof of Stake – Laneaxis The Ethereum merge, also known
Ethereum has been at the forefront of the crypto market recovery in recent times. This is because the price of Ethereum had rallied following an important update regarding the upcoming Merge, and the market had recovered in kind. ETH’s price had quickly grown to one-month highs and had seen its value grow beyond $1,700. This
Ethereum prices surge from the low of $980 to a high of $1,743 with so much excitement as regards the merge coming up in a few weeks. With the monthly close, there have been high expectations for the Ethereum price to reach a region of $2,000 -$2,400. Ethereum Weekly Chart The Ethereum price surged from
On-chain data shows the number of active Ethereum addresses has recently spiked up to a new all-time high. Here’s what happened in the past when the metric reached such high values. Ethereum Active Addresses Surge To A New All-Time High As pointed out by an analyst in a CryptoQuant post, a signal that has usually
Ethereum has been outperforming bitcoin for a while now. The altcoin had managed to grow so rapidly that it is now about half the market cap of bitcoin despite being more than 5 years younger. This outperformance had continued through the bull market and now even into the bear market. Ethereum has taken one step
Amid the negative U.S. GDP record and high Fed rate, there seems to be a positive turning for some digital assets, especially Ethereum. For example, the global second largest cryptocurrency by market cap, Ethereum (ETH), is staging a solid bounce back. Over the past few days, Ether has progressively increased as it surges to $1,774
Ethereum has lost steam after a week of trading in profits. The elements for a potential extension of the bullish momentum were laid out in the macro-economic stage. Still, rising tensions between China and the United States have brought back uncertainty to the global financial world. U.S. Congresswoman and Speaker of the House of Representatives
Stock and cryptocurrency markets on Thursday saw volatility, after experiencing fluctuations during the tensions between China and Taiwan on Tuesday and Wednesday. Major indexes like the S&P 500, Dow Jones, and NYSE have shed a few percentages today, while the global cryptocurrency market capitalization lost 2.5% in 24 hours, dropping to just above the $1.1
The Tech Transparency Project, or TTP, a research initiative of the United States-based nonprofit watchdog group Campaign for Accountability, has released a report claiming crypto firms “provided little in return” for state governments offering financial incentives. In a report released Thursday, the TTP said that many crypto firms based in certain U.S. states have “reaped
On August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies. Blackrock Chooses Coinbase to Connect Aladdin Clients to Crypto Coinbase’s institutional arm will help the world’s
Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram’s nonfungible token (NFT) features. Insta-made FLOW rally Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result,
A Redditor made it his mission to turn the tides on nonfungible token (NFT) critics by minting a collection using the top anti-NFT comments they found on the internet. In a Reddit post, user busterrulezzz introduced the NFT collection titled Worthless JPEGs! in an attempt to bring entertainment to crypto enthusiasts while critics of the
The mining difficulty tied to the Bitcoin network increased for the first time in 57 days, rising 1.74% higher than the last two weeks. Meanwhile, Bitcoin’s hashrate has been below average as the network’s computational power is down 1.7% lower in the second quarter than in Q1 2022. After reaching 292 exahash per second (EH/s)
“The cryptocurrency market is the only truly free market that exists in the financial universe,” said Dan Tapiero, CEO of 10T Holdings, during a recent video discussion with Cointelegraph Research. A major concern of venture capital (VC) and investment firms as of late has been centered around regulation from different countries around the globe. While
Bitcoin (BTC) returned to base on Aug. 4 as higher levels gave way to a battle for the 200-week moving average (MA). Battle for classic Bitcoin price trendline rages Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support. The day’s Wall Street open provided