Category: Altcoins
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Circulating supply data signals XRP may be undervalued; analysts remain skeptical
It’s no secret that XRP has been one of the worst-performing cryptocurrencies throughout both 2019 and even 2020, incurring a significant 40 percent loss against USD last year while failing to catch the full momentum seen by its peers in the early part of 2020. This price action has been driven by a plethora of…
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Grayscale Buys 50% of All Ethereum Mined in 2020
Digital asset manager Grayscale Investments bought about 50% of all newly mined ethereum so far this year. It now holds the equivalent of 1.1% of ETH in circulation, according to a post on Reddit. Grayscale operates 10 cryptocurrency investment products focused on institutional investors. As of April 24, the company had $2.7 billion worth of…
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Top-40 altcoin Digibyte rumored to be close to a 51 percent attack
Digibyte, a cybersecurity and authentication-focussed cryptocurrency, is seemingly close to the infamous 51 percent attack. If executed, the altcoin would follow Bitcoin Gold as the second major blockchain attacked by majority mining in 2020. Metrics raising questions A post on r/cryptocurrency, the popular subreddit devoted to digital assets, on April 27 first brought attention to…
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Ethereum active addresses rocket as crucial moment fast approaches
Ethereum has seen a notable price spike today that has come in tandem with a recovery seen across the aggregated cryptocurrency market. This movement has allowed ETH to recapture its position above $180 as Bitcoin navigates into the $7,000 region. One interesting fundamental development that has coincided with Ethereum’s recent price rise is that its…
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Could DAI be the Biggest Threat to DeFi? This Analyst Thinks So
Decentralized finance (DeFi) has been one of the most used buzz-words in the crypto industry last year. The rise of applications built on the Ethereum network was followed by an equally high rise of the expectations people had from the newly created industry—a decentralized answer to the problems with the current financial system. Adam Cochran:…
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This AI-focused cryptocurrency is up 300%, but on-chain fundamentals spell trouble
While the global financial markets were melting down as coronavirus spread throughout the planet, there was one cryptocurrency that managed to weather the storm. Numeraire, an altcoin brought to life to incentivize scientists to predict financial models using encrypted data, was able to enter a parabolic advance that has seen its price skyrocket over 3x…
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With Cardano’s (ADA) Shelley on the way, long-term plans are being set
[youtube https://www.youtube.com/watch?v=xRmbPU__yq4&w=560&h=349] Charles Hoskinson, the CEO of IOHK, joined in on an episode of The Cardano Effect podcast to go over some of the details regarding the launch of Shelley. However, more long-term plans for the Cardano network, such as multi-asset wallets, reducing the blockchain size, and adding another proof of merit to the network…
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Zcash Foundation Cuts Q1 Spending 17% to $2.7 Million – ZEC Tanks 9% in 24 Hours
The Zcash Foundation cut spending by 17% during the first three months of this year due to Covid-19 pressures. In its first-quarter report, the foundation said it spent only $2.68 million from an initial budget of $3.24 million. The report says: Our budget reduction primarily stems from cancelling Zcon2 and reduced travel expenses. Zcash is…