xrp cryptocurrency price

As The Price Of Bitcoin And Ethereum Slide These Two Cryptocurrencies Are Making Surprise Gains

As The Price Of Bitcoin And Ethereum Slide These Two Cryptocurrencies Are Making Surprise Gains
Written by publisher team

The following is an excerpt from the daily CryptoCodex email newsletter. Register now for free here

Crypto traders are still hoping for a late Santa rally but the ongoing downtrend this morning is making that look almost impossible. the Bitcoin The price is down 2% from this time yesterday while raised It is off by 2%. The aggregate cryptocurrency market is more likely to slip below the $2 trillion mark for the first time since October compared to a belated comeback.

Ethereum competitors Solana And Avalanche Is this morning driving the main market lower, both down about 6%. There are two bright spots are Ripple XRP frequency LunaBoth are up about 4% in the last 24 hours.

Now read this: We all need to stop seeing only the dark side of cryptocurrency

Bitcoin Mapping 🗺️

Central Decentralization: Top 10,000 bitcoin accounts containing 5 million bitcoins, worth about $232 billion, a research by the National Bureau of Economic Research has found mapped and analyzed every single transaction in bitcoin history. The report was first viewed before The Wall Street Journal She wrote: “New research shows that only 0.01% of bitcoin holders control 27% of the currency in circulation.”

why does it matter: According to the researchers, this means that the entire bitcoin network is exposed to systemic risks and that the majority of the gains seen in the bitcoin price go to a relatively small group of investors. Big Bitcoin holders control a larger share of the cryptocurrency than the wealthiest US households in dollars.

concentrated: “Even though it has been around for 14 years and the uproar that it has been, it is still the case [bitcoin’s] A highly focused ecosystem,” MIT Sloan School of Financial Management Professor of Finance Antoinette Scheuer, who conducted the study alongside Igor Makarov of the London School of Economics, told magazine.

at the same time… The amount of bitcoin held by miners is just under 500 from an all-time high, according to on-chain analytics firm Glassnode. Miners currently hold below an all-time high of 1.778 million bitcoins, down from their peak 12 months ago. “These coins are issued to miners as a reward for solving a block, but are never spent on the chain,” Glassnode analysts said via Twitter.

Check this out: The year of Bitcoin and cryptocurrencies in the charts

🏴󠁧󠁢󠁥󠁮󠁧󠁿 Bank of England crackdown on cryptocurrency

🏦 Next year, the Bank of England (BoE) will accelerate discussions with other major central banks around the world on a regulatory framework for cryptocurrencies, said yesterday London times Newspaper.

💱 A Bank of England executive said international cooperation is needed to establish rules that will protect the financial system from the fast-growing cryptocurrency market, warning that the bank has faced “challenges” in finding data on cryptocurrency holdings by institutional investors.

🗣️ “Ability to get data on who the institutional investors are [holding] “It’s a challenge, and it’s not something the UK can solve on its own,” Sarah Breden, the bank’s executive director of financial strategy and risk, told The Times.

Now read this: 48 tweets about how the art world is embracing NFTs

Next week 🗓️

👀 Watch out for these crypto and cryptocurrency related events this week.

🦠 Europe is speeding up lockdowns over Christmas and New Years in response to the spread of the variable Omicron Covid-19 and we could see cryptocurrency, stock market and asset sell-offs similar to the previous panic if restrictions are not met with new government grants to successful companies.

😷 Tomorrow, US President Joe Biden will outline the steps that are taken by the state to address the Omicron variant in a national address.

📈 On Thursday, the Fed’s preferred report to measure inflation, the personal consumption expenditures price index, fell. After a few worse-than-expected reports, economists are predicting the worst.

Also Thursday, Russian President Vladimir Putin will hold his annual marathon press conference, where he will ask questions about everything from the economy to foreign policy. Last month, Putin said the “cryptocurrency volatility is massive” after suggestions that Russia might use cryptocurrency to escape targeted sanctions.

🎄 On Christmas Day, the former Staples Center will be renamed Crypto.com Arena.

Twitter encryption annoyance: Academics Warn Bitcoin ‘May Not Last Longer’


About the author

publisher team