Hi everyone! This is my first post and I'm looking forward to sharing all my crypto news findings here on Leofinance!
While Bitcoin, Ethereum Slip, AVAX and LUNA Rally
Cryptocurrencies are down across the board, but some currencies managed to fare better than others in this bear market. Bitcoin's fallen 3% and Ether 2%, though there were still many Leading Cryptocurrency Gainers that saw an improvement over their counterparts last year when prices rose exponentially!
AVAX, the "Ethereum killer" is up 40% from last Saturday to trade at $115! LUNA climbed 14%.
Avalanche was worth just 10 less than six months ago—and it's now in 9th place by market capitalization with an impressive growth rate of almost 70%.
AVAX's rally is largely down to growing institutional adoption. On December 14, Circle announced that they were bringing their USDC stablecoin onto the blockchain of Avalanche - an exchange with wide distribution across different countries in Europe and Asia-Pacific regions. Aurora Coin (AGN) Price recovers after some bad news which has led investors back into buying up token.
Two days after the release of big news that crypto custodian BitGo would support AVAX, it was confirmed by their announcement. This means clients from both Bitstamp and bitbuy will now list AVH on exchanges in early 2022!
LUNA, the creator of one-of-a kind technology has been able to withstand any market fluctuations this week. They have created a stablecoin called LUNA USD which will soon be worth more than Tether in certain conditions and it is poised for success because its predecessors were also successful (Terra).
The price of UST is pegging to the dollar through an ingenious mechanism where for every token created, a dollar worth of Luna has been burned. In just one month it's up 40% according CoinGecko!
It's been a great week for dogecoin! The meme-inspired coin increased in value by around 3% to $0.173 cents on Tuesday after Tesla CEO Elon Musk announced that his car company will accept it as payment, and then went up another 20%.
Market leaders Bitcoin and Ethereum experienced slow news cycles this week, with each coin down 3% over the last seven days. The two cryptocurrencies are currently trading at $46K USD respectively - although there's some hope on offer for investors as they face off against Tiger Woods in an upcoming competition!
Cryptocurrencies are becoming more popular and valuable with each passing day, but many investors might be wondering when Bitcoin will hit its ceiling. The answer: not anytime soon! There is a limited amount of 21 million bitcoins that can ever exist in total--and recent reports indicate 90% have already been mined from this supply alone (with estimates suggesting 2140 as the year where all remaining coins won’t go).
Crypto is on the rise, but it won't be disruptive until there's more integration. That might not happen for awhile yet--and if you're a regulator with an eye towards future-proofing yourself against technological change then now would probably make sense time as we enter this new era of crypto regulation
A few years ago at least one person who spoke about cryptocurrencies was usually considered crazy or worse; today everyone from central banks to Wall Street giants have mentioned them in recent months.
Bitcoin briefly bounced back on Wednesday, going from below $47k to over 50k in the space of a few hours after Federal Reserve officials indicated they will be phasing out their pandemic stimulus program while raising interest rates next year.
Bitcoin is becoming more and more popular as an investment vehicle. However, the US Securities and Exchange Commission has yet to approve any Bitcoin ETF proposals from Bitwise or Grayscale for fear that it would create panic sell offs if prices were too volatile due to fears of hacks on exchanges like Mt Gox earlier this year. The SEC will now review these applications 45 days later before issuing a verdict in late January 2019. The famous fund manager Fidelity made waves when they announced plans last month8130-1/2 with launch their Futures Trading Contract.
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