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.
The latest research from Dune Analytics and Artemis on stablecoins found that the asset class processed over $35 million in transactions as of February.
XRP’s funding rates remain negative, signaling bearish market sentiment. If this trend persists, XRP’s price may face further downside.
Pi Network (PI) announced the implementation of 2FA for enhanced security as investors eye the $2 price level for the altcoin.
Analysts highlight a bearish outlook for Ethereum price, with potential further drops to $1,060 if the current bearish trend continues to persist.
Shiba Inu (SHIB) burn rate has crashed a massive 40% in the past day as the meme token approaches two key support levels: $0.0000115 and $0.00000815.
The native token of the EOS Network recorded a strong bullish momentum amid the network’s rebranding to Vaulta.
Bitcoin faces strong resistance at the $84,000 mark, its 200-day SMA, while a MACD crossover on the 2-week chart suggests a potential macro trend reversal after the FOMC meeting.
Strategy has announced that it plans to raise $500 million via stock offering in order to add more Bitcoin to its holdings amid market uncertainty.
Binance Alpha introduced support for MUBARAK meme coin which resulted in the digital currency skyrocketing 200% in the past 2 days.
Ripple Labs introduced a trademark for “Ripple Custody”, suggesting a possible entry into the custody sector for the American fintech firm.
Dogecoin (DOGE) is eyeing the $1 price tag amid a 37% decline in the past 30 days while investors continue to accumulate during the dip.
PEPE is shaping a bullish inverse head and shoulders pattern, with a potential 40% rally if it breaks through the $0.0000075 resistance level.
The US-based spot Bitcoin exchange-traded funds register six-week high gains as the CBOE Volatility Index cools down.
Crypto ETPs saw $1.7 billion in outflows last week, pushing the five-week total to $6.4 billion, with Bitcoin ETPs accounting for $5.4 billion.
Strategy has announced the acquisition of 130 Bitcoin and now holds a total of 499,226 BTC, acquired for a whopping $33.1 billion.