Connect with us

Cryptocurrency

Bitcoin price: Why is crypto down today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu as Cardano dips

Published

on

Bitcoin’s price fell again along with cryptocurrency prices across the board on Tuesday (November 16), just days after the world’s largest cryptocurrency hit a new record high of $ 69,000 on November 10.

The crypto dip on Wednesday (November 24th) follows renewed regulatory commitments by global governments.

Register to our daily newsletter

The i-newsletter cut through the noise

Bitcoin’s price is down almost 1.6% in the past 24 hours at the time of writing (5:40 p.m.), with Cardano’s price dropping more than 9% in the past 24 hours and 13% the week before, according to Coinbase , 15% has fallen.

Bitcoin Price: Why Is Crypto Down Today? Bitcoin, ETH, and Shiba Inu cryptocurrency prices as Cardano falls (Image credit: Getty Images / Canva Pro)

Here’s why crypto is down today, why the prices of Ethereum, Solana, Cardano, XRP, Shiba Inu Coin, and Dogecoin are falling – and how much they’re worth today.

Continue reading

Continue reading

Ethereum Price: How Much Is Ethereum Worth Today? Ethereum price today, price pr …

How Much Is Bitcoin Worth Today?

On Wednesday November 24th, the price of Bitcoin was trading a little over 1% in the past 24 hours to reach $ 56,753 (£ 42,526), ​​according to CoinDesk.

Cardano was trading more than 9% at 5:40 p.m. on Wednesday – and 13% below last week’s value. (Photo credit: alfernec via Canva Pro)

Bitcoin tumbled below its $ 60,000 mark on November 18, with the price of the coin hovering around $ 58,000 since then.

It was almost back above $ 60,000 on Sunday evening, reaching $ 59,914.93 at 5:00 p.m. on Sunday.

The price of the major cryptocurrency has seen recent price gains of nearly $ 10,000 for Bitcoin after getting the closest to a new milestone of $ 70,000.

After Bitcoin’s value rose to $ 69,000 at 2:00 p.m. on November 10, Bitcoin’s price fell to $ 64,292.43 by 10 p.m. that day.

Crypto data aggregator CoinMarketCap saw Bitcoin trading volume fall 12.91%, with Bitcoin trading worth $ 33,785,731,422 in the past 24 hours.

Why is Bitcoin down today?

Bitcoin’s bullish surge in price to nearly $ 70,000 came as investors hoped the market cap would stay firm at $ 1 trillion ahead of a volatile trading period.

But the dip below $ 60,000 last week marked a long-awaited retreat from investors testing the strength of support below the higher thresholds for the coin and stabilizing risk posed by rising inflation and the impact of President Joe’s Infrastructure Act $ 1 trillion in biden on US cryptocurrency trading.

The Infrastructure Bill, signed by the U.S. President on Monday, November 15, contains provisions that could result in cryptocurrency brokers or exchanges having their customers’ names and addresses in addition to cryptocurrency profits and tax requirements for companies or exchanges that are worth more Received more than $ 10,000 must provide evidence of cryptocurrency or digital assets.

However, this week there were also other signs of concern in global markets – the Indian government proposed laws regulating cryptocurrencies that would ban all private cryptocurrency holdings.

The Law on Cryptocurrency and Regulation of Official Digital Currency, drafted by the Indian government, has raised fears of a crypto ban in the country where the price of Bitcoin fell early on Wednesday morning.

Such moves to regulate the cryptocurrency market come several weeks after the Chinese government reiterated its ban on cryptocurrency mining and crypto-related transactions, which it officially declared illegal in September.

And despite reports on Tuesday, October 26th that U.S. regulators are looking at new ways for banks to hold crypto assets and manage their surge, the SEC recently approved VanEck’s proposal for its own Bitcoin Exchange-Traded Future (ETF) declined.

The SEC cited concerns about “fraudulent and manipulative acts and practices” in the cryptocurrency market as the basis for their rejection of VanEck’s futures proposal, which mirrors that of the successful ProShares Bitcoin Strategy ETF.

Bitcoin futures ETFs are designed to enable investors to trade futures contracts away from the usual crypto exchanges like Binance, which are being scrutinized more closely by regulators around the world.

Crypto ETFs allow investors to speculate on the future costs of cryptocurrencies without having to hold them themselves.

What are the prices of Ethereum, Shiba Inu and Cardano today?

Since cryptocurrencies often move together with Bitcoin, Ether, the cryptocurrency synonymous with the rising crypto trend of NFTs, was trading nearly 3% on Wednesday after hitting a new record high of nearly $ 5,000 in early November.

The price of Ethereum hovered around $ 4,238.26 (£ 3,177.30) at 4:28 p.m. on Wednesday – down from $ 4,842.54 at 6 a.m. on November 9.

The hype about the popular Memecoin Dogecoin Seemed to be on the wane lately as new altcoins took center stage.

The Shiba Inu coin is trading around 11% in the last 24 hours at around $ 0.0003740 (£ 0.00002810) today at 4:30 p.m. after breaking multiple record highs in late October.

Dogecoin was trading around 6.5% in the past 24 hours to $ 0.214556 (GBP 0.16) on Wednesday afternoon.

In the meantime, Cardano (ADA) Prices are hovering around $ 1.62 (£ 1.21), down nearly 10% over the past 24 hours. XRP fell 2.83% to $ 1.02 (£ 0.767650) and Solana at $ 205.90 (£ 154.45) as of 5:35 p.m. on Wednesday.

Why is Cardano down today?

Cardano (ADA) price fell more than 9% on Wednesday after US cryptocurrency exchange eToro announced that it would soon discontinue the coin for US users due to regulatory concerns.

“EToro will restrict ADA and TRX for users in the US,” the platform announced on its website on Tuesday.

“US users will not be able to open any new ADA or TRX positions as of December 26, 2021.

“In addition, staking for these assets will end on December 31, 2021.

“These changes are due to business-related considerations in the evolving regulatory environment.”

The move came as a shock to ADA investors as the cryptocurrency has not been investigated as intensively by other cryptocurrencies such as XRP, which has been the subject of an SEC lawsuit since 2020.

The move from eToro is believed to be due to the passing of the Infrastructure Act and the threat of cryptocurrencies that could be viewed as securities by the SEC.

While cryptocurrencies like Bitcoin and Ether act as a form of digital currency to be used as an alternative to the British pound, US dollar or other currencies, crypto-assets as securities would simply be digitized financial assets – and are subject to more regulation and taxation as a result.

According to Coinbase data, the 9% decrease in the price of Cardano has resulted in a 95% increase in trading volume in the last 24 hours, and 68% of that is from Coinbase customers who buy the dip and increase their stake in ADA.

When was the last big crypto crash?

In June, the Chinese government cracked down on sizeable crypto mining operations in Sichuan province, demanding that Chinese banks and payment channels stop supporting decentralized and anonymous crypto transactions.

This resulted in Bitcoin prices falling below $ 30,000 in a dramatic slump due to its rapid success.

Cryptocurrency has continued to rise and fall as other global administrations and regulators consider legislation to curb the growth of crypto activity, often attributed to money laundering and crime.

Following the move by the Chinese state, countries like South Korea have also committed to tackling the surge in money laundering via cryptocurrencies, while the Metropolitan Police announced that it has successfully completed a huge UK cryptocurrency money laundering operation.

In July, the Met seized a £ 180 million cryptocurrency operation in the UK’s largest ever cryptocurrency seizure.

In turn, cryptocurrency exchanges like Binance have felt the heat around the world as regulators and governments have begun to closely monitor the operation of such platforms following the global crackdown on cryptos.

The result of this was that Bitcoin’s highest prices were cut in half in June, with the coin struggling to break out of the low to mid-range price range of $ 30,000 until it was spotted by Tesla founder Elon Musk at his appearance at the major Bitcoin conference received a welcome boost in July.

The bullish surge and increased confidence in Bitcoin will likely cause prices to fluctuate between $ 60,000 and $ 70,000, but with mounting resistance, as a price forecast of $ 100,000 is expected in 2022.

A message from the editor:

Thank you for reading this article. We need your support more than ever as the changes in consumer habits caused by the coronavirus are affecting our advertisers.

If you haven’t already, support our trusted, fact-checked journalism by purchasing a digital subscription.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Cryptocurrency

Jack Dorsey’s Twitter departure means more time for bitcoin passion

Published

on

Jack Dorsey, Co-Founder and CEO of Twitter Inc. and Square Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, USA, on Friday, June 4th, 2021.

Eva Marie Uzcategui | Bloomberg | Getty Images

The decentralization of power on the Internet is an important personal issue for Dorsey. At Twitter, he led funding for a project called BlueSky, which is a set of openly published standards for social media companies to make it easier for users of different social media networks to communicate with one another. New Twitter CEO Parag Agrawal has played a pivotal role in pursuing this vision, which is a reminder of how the Internet was originally built on common standards.

Dorsey has also been vocal in advocating decentralization of the workplace. Twitter was one of the first to announce the possibility of employees working from home indefinitely in the wake of the Covid-19 pandemic. In addition, Dorsey had discussed moving a part-time job to Africa to “work decentralized,” although he withdrew that plan when the Covid pandemic became more serious.

Tom Lee, the head of research at Fundstrat Global Advisors, told CNBC that the changing of the guard on Twitter was “up for crypto.”

“There is not enough capital available for crypto-innovations, so people like Jack Dorsey really have to concentrate,” said Lee on Monday at CNBC’s “Tech Check”.

Square’s foray into crypto

Square also kicked off its crypto-focused projects this year. With Dorsey now relieved of his responsibility on Twitter, many are excited to see what crypto tasks Square will take on next.

The company started trading bitcoin in 2018 using the Cash app, which allows users to buy and sell bitcoin. In 2019, Square founded Crypto, an independent team dedicated to contributing to bitcoin open source work, and just last year Square founded the Cryptocurrency Open Patent Alliance (COPA), a non-profit organization that aims to Pool patents to fuel crypto innovation.

Square announced in July that it was launching a new business dedicated to building decentralized financial applications (DeFi) for Bitcoin, which Dorsey described as “an open developer platform with the sole aim of creating untrusted, license-free, and decentralized financial applications simplify”. Services.”

In October, Square’s CEO said the company could get into the bitcoin mining business, and earlier this month the payments company released a whitepaper outlining plans to launch “tbDEX,” its own decentralized exchange for buying and selling Selling cryptocurrencies, will be described in detail.

The payment giant is also building its own hardware wallet to “make Bitcoin custody more mainstream”.

Square added Bitcoin to its balance sheet, attributing the election to an alignment of values. The company recorded a fair value of $ 351.7 million on its Bitcoin investment as of September 30.

“We believe Bitcoin has the potential to be a more ubiquitous currency in the future,” said Amrita Ahuja, Square’s chief financial officer. “As acceptance increases, we intend to learn and participate in a disciplined manner. For a company that develops products that are based on a more inclusive future, this investment is a step on the way.”

Investments like this come at a critical time for the crypto industry.

“I don’t think the place is over-invested yet,” said Lee. “Crypto is the interface between financial services and technology. That is literally 60% of the economy. “

Continue Reading

Cryptocurrency

Cryptocurrency Billionaire Justin Sun Has Bought More Than $100 Million Worth of Art This Year. So What’s He Going to Do With It?

Published

on

When Sotheby’s record-breaking Macklowe Collection auction received the winning bid of $ 78.4 million for Giacometti’s Le Nez (1947) earlier this month, curious minds immediately began to speculate who the buyer was. Maybe it was hedge funder Steve Cohen, a longtime collector of the artist’s work? Or maybe the Qatari royal family?

Just a few days after the sale, the real buyer showed up: Justin Sun, the Chinese-born, 31-year-old tech billionaire and founder of the cryptocurrency platform TRON. The news served as positive evidence that at least some of the new crypto rich are putting their money into the arts. So far this year, Sun has spent more than $ 100 million on auctions.

Now the entrepreneur says he’s just beginning to build his art collection – and his appetite includes installations, videos, classic contemporary and more. Although he was unable to attend Art Basel Miami Beach due to travel restrictions, plans to buy through galleries and in the primary market soon, he said, with an eye to emerging talent. These purchases are displayed in the metaverse as the IRL items are loaned to institutions around the world.

Alberto Giacometti, Le Nez. Conceived in 1947; this version was conceived in 1949 and cast in 1965. Courtesy Sotheby’s.

“Because our goal is to build the best and most diverse collection of contemporary art, we’re interested in a variety of art forms and categories such as video, music, installation, and AI art that we don’t already have,” said Sun. “Most of the works of art we own are static and we strive to diversify our collections to enrich our museum in the Metaverse … art that anyone can see and engage in interesting conversations to spark creativity.”

In addition to Le Nez, Sun has acquired a Picasso portrait of Marie-Thérese valued at £ 14.6 million ($ 20 million); a triptych of “Dread Wig” portraits by Andy Warhol for £ 1.4 million ($ 2 million); KAWS Untitled (Kimpsons) (2001) for HK $ 2.5 million ($ 323,647); and Cube by top NFT artist Murat Pak.

Many of these works, acquired from Sun through the APENFT Foundation, are now being digitally assimilated to “see” in the APENFT Virtual Museum on cryptovoxels in the Metaverse, a virtual world powered by the Ethereum blockchain. Those who have the technology – Oculus Quest, Oculus Rift, and HTC Vive – can explore it up close.

“The traditional art world is extremely opaque and buying art is seen as only for the privileged,” Sun said. “Just as blockchain democratizes finance like never before, we want to democratize the art market by registering blue-chip art as NFTs in the blockchain and enabling a creative economy.”

Sun hopes to bridge the gap between the metaverse and the art world universe by loaning some of the physical works to institutions. “We look forward to working with some of the world’s leading museums to further explore this concept and, more importantly, bring its real world application to the art world,” he said.

Follow Artnet News on Facebook:

Do you want to be one step ahead of the art world? Subscribe to our newsletter for the latest news, insightful interviews, and succinct critical views that will keep the conversation moving.

Continue Reading

Cryptocurrency

Cryptocurrencies brace for winter, virtual Adidas and a bitcoin city

Published

on

A representation of the virtual cryptocurrency Bitcoin can be seen in this illustration from October 19, 2021. REUTERS / Edgar Su / File Photo

Register now for FREE unlimited access to reuters.com

to register

  • Omicron worries weigh on important cryptocurrencies
  • Ether and other DeFi, Metaverse-Linked Tokens outperform Bitcoin
  • El Salvador wants to build “Bitcoin City”
  • Adidas cooperates with Coinbase

Nov 29 (Reuters) – Cryptocurrencies last week survived one of the biggest market shocks since the early days of the pandemic, with El Salvador being a notable buyer as investors decided not to share Adidas’ excitement over a foray into the busy Metaverse.

El Salvador’s plans to build the world’s first “Bitcoin City” and the entry of Adidas were the bright spots for digital assets in a week in which major cryptocurrencies were overwhelmed by fears about the new Coronavirus variant Omicron.

Bitcoin was down 0.5% on Monday and has lost about 17% of its value in the past 19 days from a record $ 69,000. But competing currency ethers and tokens associated with the metaverse and decentralized financial applications have done better.

Register now for FREE unlimited access to reuters.com

to register

Adidas’ move made waves after the German sporting goods retailer announced a partnership with Coinbase Global Inc (COIN.O) in a tweet, even though the shares of Adidas (ADSGn.DE) did not participate in the celebration.

The company also bought a piece of virtual land called “adiVerse” in the blockchain-based world The Sandbox, with the German company hinting that it would expand it to offer virtual reality products, and comes at a time when it does Best seller warned due to supply chain issues.

“This is something big because it is also an indication of what will hit the fans in the NFT area in a few months: the Adidas sneakers and other virtual branded clothing, shoes and objects,” said Ipek Ozkardeskaya, senior analyst at Swissquote .

The price of SAND, the virtual currency used to buy real estate and other items, rose 90% on the news to $ 7.18, according to CoinGecko, and received a second spike since Facebook in Meta Platforms Inc late last month ( FB.O) was renamed. Continue reading

MANA, the speculative currency used in the leading blockchain-based online world, Decentraland, rose 36% to $ 4.90. Land and other items on Decentraland are sold in the form of non-fungible tokens (NFTs).

In addition to the sell-off sparked by the Omicron news, the biggest headwind for Bitcoin and Ether last week came from an announcement by the Indian government about a law that would restrict most private cryptocurrency transactions by the country’s estimated 15 to 20 million crypto investors would prohibit. Continue reading

‘SURVIVE WINTER’

Bitcoin traded around 4,376,477 Indian rupees ($ 58,296.12) on India’s WazirX exchange, a slight premium to outside of the country prices that reversed from a 15% discount on Tuesday following the announcement.

“When it comes to a blanket ban, in combination with China you are talking about two centers of the world’s population that are effectively frozen out of crypto,” said Simon Peters, crypto analyst at eToro.

Elsewhere, the President of El Salvador announced plans to build the world’s first “Bitcoin City”, which was originally financed by Bitcoin bonds. In September El Salvador introduced Bitcoin as legal tender. Continue reading

Average daily trading volume across all digital asset product types declined an average of 13% through the end of October through November 19, while net inflows averaged $ 203 million, half of October, according to data from CryptoCompare.

It found that assets under management in Bitcoin-related products rose by 9.5% to 48.7 billion in the first three weeks of November.

Decentralized finance-related tokens Solana (SOL) and Litecoin-based products achieved in the 30 days to 19

A piece of virtual real estate in Decentraland was sold for a record $ 2.4 million in cryptocurrency on November 23, the buyer – crypto investor Tokens.com (COIN.NLB) – and Decentraland said. Continue reading

Meanwhile, the upcoming December holiday season could add volatility, while the Fed’s economic slowdown for Bitcoin could be on the decline, analysts said.

“There should be more agnostics focused on the fact that we’re in a bad part of the crypto cycle here – the fixes could be epic,” said Brent Donnelly, president of research firm Spectra Markets.

“Make sure you can survive the winter.”

($ 1 = 75.08 Indian Rupees)

Register now for FREE unlimited access to reuters.com

to register

Reporting by Lisa Pauline Mattackal and Medha Singh in Bengaluru Additional reporting by Tom Westbrook in Sydney Editing by Vidya Ranganathan and

Our Standards: The Thomson Reuters Trust Principles.

Continue Reading
Advertisement

Trending