Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900

Price Point Bitcoin (BTC) was lower after surging on Wednesday to a new all-time high price above $52,000, while ether (ETH) topped $1,900 for the first time, pushing toward the psychologically crucial $2,000 mark.  “My sense is the technology has evolved and the regulations have evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up,” Rick Rieder, head of global allocation for the $8.7 trillion money manager BlackRock, told CNBC. “We’ve started to dabble a bit.” In…

How Crypto Transforms Prediction Markets

Prediction markets are speculative platforms where traders can place bets on the outcome of future events, such as “Will Joe Biden win the 2024 presidential election?”. If their bet was correct traders earn money but if they are wrong they lose the wagered amount. Users obviously want to make money from these markets, which include PredictIt and Iowa Electronic Market. But the reason the type of prediction market has drawn so much academic interest is that they have a solid track record of making correct predictions, sometimes even predicting the…

Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments

The Swiss canton of Zug has started accepting tax payments in cryptocurrency. In a previous announcement in 2020, the Swiss authorities said that, from February, citizens and companies based in Zug will be able to pay up to 100,000 CHF (around $111,300) of their taxes in either bitcoin or ether. No partial payments in cryptocurrency will be accepted. Zug has been dubbed “Crypto Valley” over the many industry companies drawn to the jurisdiction over its friendly blockchain and crypto regulation.  “As the home of the Crypto Valley, it is important…

Ether Looks Overleveraged as Cryptocurrency Hits New High Over $1,900

Ether soared to new record highs Thursday, but an overheated derivatives market may suggest higher volatility is on the way for the short term.  The second-largest cryptocurrency by market value set the new lifetime high of $1,928 soon before press time, having first breached the previous peak of $1,821.49 reached on Feb. 13 early today, according to CoinDesk 20 data.  In the derivatives market, the average level of the “funding rate” across major exchanges offering ether perpetuals (futures with no expiry) has risen sharply from 0.069% – just short of…

Emily Parker: Why We Should Take Dogecoin Seriously

Nothing says 2021 like dogecoin, a dog-themed cryptocurrency that has recently skyrocketed in value, thanks in part to the support of Elon Musk and other celebrities. For a time it was the 10th largest cryptocurrency. Dogecoin finished 2020 at less than half a penny per DOGE, according to CoinDesk’s dogecoin price index. It now trades at or above 5 cents, putting its year-to-date returns at around 1,000%. It may be tempting to write this off as a speculative frenzy or just a fluke, but that would be missing the larger…

SecretSwap Is the Secret Network’s Answer to DeFi Privacy

The Secret Network, a protocol focused on privacy for decentralized finance (DeFi), has launched SecretSwap, a front-running resistant and cross-chain decentralized exchange. It is now live on the Secret Network mainnet.  SecretSwap uses the SNIP-20 secret token standard and Secret Ethereum bridge. “SecretSwap is the first front-running resistant, cross-chain [automated market maker]. Its architecture (being based on Secret Network) gives SecretSwap usability advantages, protects users from malicious bot activity, increases the availability of assets and keeps fees much lower than on Ethereum,” said Tor Bair,  the Secret Foundation’s executive director…

Tesla Tapped Coinbase for $1.5B Bitcoin Buy: Report

Coinbase’s institutional trading wing handled electric car-maker Tesla’s $1.5 billion bitcoin investment earlier this month, according to The Block. The report illustrates Coinbase’s growing role as corporate America marches deeper into crypto. Coinbase handled MicroStrategy’s early allocations and The Block reported it has five Fortune 500 firms as clients. CoinDesk could not independently confirm the report at press time Wednesday. Coinbase declined to comment. Source link