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bitcoin price: Top cryptocurrency prices today: Bitcoin, Polkadot, Ethereum surge up to 16%



NEW DELHI: Major cryptocurrencies traded higher on Tuesday after investor confidence was boosted by Tesla CEO Elon Musk’s tweet over the weekend. Led by Bitcoin and Polkadot, all of the top 10 digital tokens saw an increase of up to 16 percent.

After another weekend of wild price swings, the crypto market got its mojo back after Musk pared criticism of its market influence, saying Tesla had sold Bitcoin but may have resumed transactions with it. Investors eagerly await Tesla’s next earnings update – due next month – for any disclosure of changes in its position.

The crypto market rose sharply as Tesla announced purchases in digital Numero Uno tokens, while the virtual currency market collapsed

to use. Tesla’s U-turn on cryptos wasn’t the only trigger, however. Around the same time, the Chinese government took action against institutions dealing with cryptocurrencies.

“Bitcoin is the market leader and the dominant asset. It has managed to keep the crypto community, financial institutions and banks interested in the asset as the volume has held the position and has not decreased much. This is the result of banks, MNCs and, in some cases, even governments seeing the potential of the asset, “ZebPay told Trade Desk.

“A highly anticipated event, the Ethereum Protocol Upgrade Proposal (EIP-1559), which promises us to provide an improved transaction process and streamline the user’s experience by reducing transaction costs and making the determination of fees much easier and simpler Being made less stressful and wasteful is also due very soon, “she added.

“We can see a consolidation in the markets. Trading volumes remained low. This consolidation was well anticipated and could continue for the whole month. The sell-off had very little trading volume, which is a positive sign for the crypto market, ”said Edul Patel. CEO and co-founder of Mudrex.

Crypto shopping cart: Quick Glance (Source:, data as of 9.30 a.m., ACTUAL on June 15, 2021)

  • Bitcoin: $ 40,518.56, up 4.32 percent
  • Ethereum: $ 2,595.23, up 4.82 percent
  • Tether: $ 1.00, up 0.07 percent
  • Binance Coin: $ 373.65, up 4.22 percent
  • Cardano: $ 1.58, up 2.54 percent
  • Dogecoin: $ 0.33, up 1.74 percent
  • XRP: $ 0.89, up 2.16 percent
  • Polkadot: $ 25.26, up 16.785 percent
  • USD coin: $ 1, up 0.04 percent
  • HEX: $ 0.092, up 6.09 percent

Note: price change in the last 24 hours

Tech View of Giottus Cryptocurrency Exchange

Cardano (ADA)

Everyone is talking about Cardano at crypto town and has gained incredible amounts after one of the founders discussed its roadmap through 2025. Cardano will grow into one of the most sophisticated ecosystems in the crypto space in the coming years. This news is very bullish for Cardano and the market has reflected it on its charts.

Cardano recently broke trendline resistance of a falling wedge pattern. It is expected to test the trendline resistance of a huge ascending channel, a short-term bullish pattern. ADA remains bullish and will remain so until it is on the channel. Once broken down, it can hit multiple lows. But when ADA breaks and exceeds $ 2.45, new highs can be formed.

All of these moves remain dependent on the movement of Bitcoin, which broke out of its downtrendline this week and appears to be targeting $ 43,000 as the next resistance.

Main stages

Support: $ 1.25, $ 1.16, $ 0.96

Resistance: $ 1.87, $ 2.0, $ 2.45

Binance Coin (BNB)

Binance Coin (BNB) has risen parabolically since late 2020 and recorded a more than 60 percent correction after the crypto crash in May 2021. It is the native coin of the Binance exchange.

BNB is currently forming a rising wedge that can still grow until the first week of July. It will be interesting to see how BNB performs as it broke a large technical and psychological resistance ($ 350) and is being tested

100 (100 day exponential moving average). Breaking the EMA 200 and the trend line resistance of the rising wedge will be extremely bullish for the NBB.

Since the ascending wedge is inherently bearish, we cannot rule out the possibility of a bearish reversal. But it will likely bounce off the first ($ 350) or second ($ 275) big support after collapsing. Failure to bounce back from the second big support, the NBB could fall to the USD 210 level.

Main stages

Support: $ 305, $ 290, $ 275

Resistance: $ 410, $ 430, $ 475

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of Please consult your financial advisor prior to entering into any position in any of the above assets.)

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Ethereum Might Dethrone Bitcoin as Best Crypto Store of Value, Study Argues – Bitcoin News



A recent paper authored by members of several universities including Sydney and Macquarie argues that recent changes in Ethereum’s monetary policy make it a better store of value than Bitcoin. The deflationary effect that the EIP 1559 proposal caused on the issuance of the currency is believed to be the main cause.

Ethereum in the spotlight

A new paper released last month by members of Australian universities puts the spotlight on Ethereum and its possible future as a store of value. The paper entitled “Better than Bitcoin? Can cryptocurrencies defeat inflation? ”Is written by Ester Félez-Viñas from the University of Technology in Sydney and other scientists and compares the issue of Bitcoin with the new issue model of Ethereum, which makes the currency deflationary.

The paper says:

We show that after the recent change in its transaction protocol, the digital currency Ethereum has a significantly lower net emission rate of tokens than Bitcoin, which is achieved through the annihilation of the fees
associated with every transaction.

This has to do with the activation of EIP-1559, a proposal that burns Ethereum in proportion to the use of the network. While this proposal encountered resistance when it was presented – mainly from miners and mining pools – it is now contributing to this new appreciation of Ethereum as a potentially deflationary currency in the future.

Burning fees

The implementation of EIP-1559 resulted in the network burning a significant amount of Ethereum in fees. This change has resulted in more than a million ETH being withdrawn from circulation after just three months of its implementation on the mainnet. The study notes:

In many cases, the amount of Ethereum burned exceeds the creation of new tokens by the network, resulting in Ethereum potentially becoming the world’s first deflationary currency. We argue that this offers better inflationary hedging properties than Bitcoin, and therefore Ether may offer better long-term storage of value than Bitcoin.

Other cryptocurrency projects use similar burning schemes in hopes of recreating the same effect. Binance Coin recently activated an update for its network that also implemented fee burning. However, Binance Coin and Ethereum differ fundamentally: the latter has no upper limit for the issue, while Binance Coin has a hard upper limit for spending.

What do you think of “Better than Bitcoin? Can Cryptocurrencies Beat Inflation? ”Paper And Its Conclusions? Let us know in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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mark mobius: Don’t consider cryptocurrency an investment: Mark Mobius



I don’t think cryptocurrencies fall into the viable investment category. It’s speculation that you could play with it, have fun with it, but not consider it an investment, says Mark Mobius, founder of Mobius Capital Partners.

Are the markets secretly praising tapering when it starts?

Tapering was in the foreground just a few weeks ago and is now taking a back seat because we are becoming aware that the Fed may be aware of this new Covid variant and may not tighten the screws as tightly as we expect.

If the Covid variant spreads, what happens then? How do you think the markets would adapt?

When this Covid situation struck last year, there was panic. The market collapsed dramatically but recovered very quickly. People have heard of Covid, big disaster, big problems and now they are starting to say that last time it wasn’t that bad, the market did well. So why should I panic at this situation?

Yes, the new variant is highly contagious, but not necessarily fatal. In other words, the deaths so far are minimal. So there may be times when people find that this new variant is not that serious, but people tend not to react as strongly as they did when they first panicked.

Her exposure to India was limited to three stocks. Did you do it four or five?

No, we are sticking to these stocks and are very happy with them. We’re still reviewing options, but we’re not making any changes so far.

Is there a reason you chose a persistent rather than a frontline name like TCS or Infosys?

Yes, the whole idea of ​​the fund was to differentiate itself from the indices. The ETFs are instruments that many investors use as they are based on indices. So if we offer something different from what people have now, that means doing something that the index is not involved in. It is important to us not to invest in companies in the index.

In our portfolio of three stocks, there may be two in an index rather than the main index. So that’s one of the top principles we have in our portfolio. The second thing is that we want to target midsize and small businesses that people haven’t noticed.

People don’t imagine these companies will grow. You will, of course, gradually see the value of the companies, then prices will rise.

PolyCab and Apollo, two stocks you own, are in some ways commodity consumers. At a time when we are experiencing a re-evaluation of the raw material complex and companies are struggling to maintain costs, does it make sense to rely on raw materials, consumers and not producers?

Not necessarily. If you look at the two manufacturers, yes they use steel and steel prices have gone up, but that’s only part of their total cost.

The other part is the work and other aspects of manufacturing. So the pricing implications are not that big.

Also, the good news is that the power of quality allows you to get a premium price point. You can raise prices without influencing demand too much. It depends on the individual company.

You will find that many commodity consumers continue to do well simply because the demand for their products is so great and their quality is good that they can hold the market while increasing prices.

Is there any reason for you to be concerned about your engagement in India?

We only care about one thing – the companies in which we invest. How is the situation in the company? How does the macro environment affect you? We don’t focus on the index or what ICICI or Reliance are doing. We focus on companies we invest in and find that price behavior differs from these and other companies.

Are you surprised by the kind of IPO euphoria we’ve seen with some of the emerging tech companies? Have you looked at names like Zomato or Paytm or skipped them completely?

We’re going to skip for two reasons. We don’t get into IPOs too often as they are perfectly priced. Their prices are not necessarily a bargain. Second, many of these IPOs, especially in the tech space, are based on hope and low money while companies are still losing money. We have a policy not to invest in companies that are losing money. Well, prices might not go through the roof if people are excited about technological innovations or get excited about the company and their hopes and fears, but at the end of the day we find that it’s better to stick with companies, which has a solid foundation, low debt and good income.

Many global investors investing in India are buying into private banks or buying into financial stocks. Why did you skip this?

Financial stocks are often included in the index, so we avoid them. It is often difficult to find out what is happening to the banks. So if you go to a bank to interview management and ask about the number of bad loans, they won’t tell you what happens. You don’t want to look bad.

Let’s say bad loans are 2% or 3%, but the reality is it’s probably closer to 20%, so that kind of opacity makes it very difficult to invest in banks. You have to be extremely careful. Those are the two reasons why we cannot favor banks. That doesn’t mean we’ll never go to a bank, maybe a small bank that is growing fast and solid for one reason or another, and where we can get the information we want, but otherwise one has to be very careful.

Would You Buy Bitcoin? So if you had to buy, sell and hold different asset classes, how would you classify them?

People should have some gold, maybe 10% of the emergency fortune. Gold, a currency in human history, is something you can have. Bitcoin or cryptocurrencies belong to the class of religions, it is a belief that if other people believe as you do, it will rise, but otherwise it is not an investment. It is not something that makes money, pays dividends, produces something. It is not just a currency but can be used for industrial purposes.

I spoke to a semiconductor manufacturer and said, have you ever used gold? He said yes we love gold to connect semiconductors, but the problem is its price. It’s a little too high. If it goes down we will switch from copper to gold because gold is far superior to copper. So I don’t think cryptocurrencies fall into the viable investment category. It is speculation that you could play with it, have fun with it, but not consider it an investment.

Do you think a bubble is emerging across the EV space?

In some cases there is a bubble. Every buyer rushes into this room. New electric car companies are listed or formulated.

It’s like the California gold rush. Many, many years ago, the people who made the money were the people who sold shovels and tools for the miners, and those are probably two of the people in the EV who make components for batteries or certain gear shafts that are likely to make money will. but a lot of auto companies won’t do very well.

What data point would you monitor that will convince you that it is time to sell or exit your India portfolio?

The most important thing would of course be state regulations. For example, says the Indian government, we will now impose a heavy tax on foreign investors or restrict the ability of foreign investors to limit their income. Things like that would panic and worry us very much.

That would be the number one problem. Others like the issues with income, company characteristics. We can deal with that so far. We can partner with the companies or sell, depending on what we think they will do. In general, we tend not to turn our portfolio very much. We have very, very little turnover because we have companies that we believe in and that we know will do well over the long term.

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The U.S. seized a record $1 billion of bitcoin a year ago. Its value has tripled.



The largest ever seizure of cryptocurrency by the U.S. government has proven to be a godsend for taxpayers.

It’s about thousands of bitcoins seized in November 2020 in connection with the illegal Silk Road Marketplace, a dark web forum where drugs and other illegal products were bought and sold using the digital currency.

The bitcoins are still owned by the government for bureaucratic reasons. And the year after that, the price of Bitcoin tripled.

So what was once worth $ 1 billion is worth around $ 3 billion today.

That’s a little less than when Bitcoin hit its all-time high of $ 67,000 last month. But with Bitcoin hovering at around $ 55,000 – up from around $ 18,000 in November 2020 – Uncle Sam has still done pretty well.

The government will auction the bitcoins, an Internal Revenue Service spokesman told NBC News. The proceeds from such auctions are typically paid into the Department of Justice’s Treasury Forfeiture Fund or Assets Forfeiture Fund and used to aid future investigations.

Most of the government’s handling of cryptocurrency has been far less profitable. In fact, it is mostly a story of missed opportunities.

The US Marshals Service says it has sold 187,381 bitcoins in nine auctions since 2014. A spokesman declined to provide the appropriate sums of money, but based on the price of Bitcoin on the day of each sale, NBC News estimated total revenue would have been around $ 179 million.

At today’s price, these coins would fetch more than $ 10 billion – nearly 56 times as much.

When it was first seized related to the Silk Road in 2014, the government seized 29,657 bitcoins and sold them for around $ 18 million. Today it would be worth more than $ 1.6 billion.

Back then, it wasn’t easy to sell Bitcoin, a digital currency created using blockchain technology and stored in what are known as digital wallets. The government is concerned that there will be no buyers, said Sharon Cohen Levin, who headed the money laundering and asset deterioration division of the US Attorney’s Office for the southern borough of New York for two decades.

“It was insanely difficult figuring out how to do it,” she said.

In hindsight, simply storing the bitcoin would have made a fortune, but for better or for worse, the government is unable to hold cryptocurrencies for investment purposes.

Silk Road was an anonymous marketplace for criminal activity. Its founder, Ross Ulbricht, was sentenced to life imprisonment in 2015 after being convicted of money laundering and drug trafficking.

The $ 1 billion seizure last year came after the IRS used software company Chainalysis to identify 54 previously undiscovered Bitcoin transactions carried out by Silk Road, the IRS said.

Those funds were traced back to a Bitcoin address belonging to an unidentified person who hacked into Silk Road and stole the money, according to court records.

“Following this investigation into the hack, law enforcement officials confiscated several thousand bitcoins on November 3, 2020. On November 4, 2020, the confiscated Bitcoin was valued at over $ 1 billion, ”the complaint said.

And now it’s worth a lot more.

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