For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Avalanche’s AVAX climbed 12% in the last 24 hours, with a 185% spike in daily trading volumes to nearly $400 million.
BitMEX founder Arthur Hayes sees Bitcoin price retesting the $110,000 high amid growing resurgence, however, with correction still ahead.
XRP price gained 3% to reach $2.48, with trading volumes rising 66% to $2.9 billion driven by broader market strength and optimism surrounding Ripple’s legal case.
WLFI’s latest $3 million MNT purchase boosted its total holdings to 5.99 million tokens, as Mantle price jumped 8%.
Analysts highlight narrowing Bollinger Bands on the 12-hour chart, signaling an imminent major Dogecoin price move in the near term.
Ethereum surged to $2,065 with a 9% weekly gain as whales accumulated $1 billion worth of cryptocurrency in the past week.
Bitcoin gained strong bullish momentum as the weekly inflows into the US-based spot BTC exchange-traded funds reached their two-month highs.
Hours after Canary Capital filed for a PENGU ETF on March 20, the token’s price dropped by 10% to $0.0062, with critics pointing to weak retail demand.
Australia’s Albanese government has introduced a crypto regulatory framework encompassing digital assets, crypto custody services, and exchanges.
Bakkt appoints Akshay Naheta as co-CEO, leading to a 13% increase in shares, despite challenges from lost partnerships and regulatory delays.
BNB Chain successfully executed the Pascal hardfork, introducing the EIP-7702 smart contract wallet with new features.
XRP active addresses have soared to highest levels since April 2023, reaching 627,000 following SEC’s decision to end the lawsuit against Ripple Labs.
According to analyst Ali Martinez, a whopping 360,000 ETH tokens were withdrawn from crypto exchanges in the last 48 hours.
South Korean financial authorities will reportedly start sanctions against a list of overseas crypto exchanges for operating without proper licensing.
Despite Bitcoin’s ongoing slump, analysts remain optimistic in the long-term, predicting a prolonged consolidation in the short-term.