The most recent crypto flash crash that took place three days ago wiped out more than a fifth of Bitcoin’s value and caused over $2 billion worth of positions to be liquidated ended up being nothing more than a feeding party for whales as they gobbled up more than $3.3 billion worth of Bitcoin during the dip.
In regulatory filings disclosed Monday morning, MicroStrategy, the cloud-based data analytics firm founded by Michael Saylor, disclosed yet another large purchase of Bitcoin continuing its show of support for the world’s preeminent digital currency.
Financial markets around the world are quickly reacting to the news that a new coronavirus variant called B.1.1.529, which has the potential to be vaccine-resistant, was detected in Hong Kong, South Africa, and Botswana.
Cardano has been at the center of both rabid praise and mass criticism since its release in September of 2017. The digital token separates itself from the crowd with its rapidly advancing technology, its unique multi-layer architecture, and by using mathematical principles in its consensus mechanism. Yet claims of difficulty for programmers, especially in launching decentralized applications (dApps) on the Cardano ecosystem, have continued to bog down one of the more promising cryptocurrencies available.
For the first time since November 1st, Bitcoin’s valuation dropped below $60,000 in overnight trading as the passing of the US infrastructure bill and a continued crackdown on cryptocurrency mining in China pulled the market down for the most popular digital coins.
Riot Blockchain has been expanding at a rapid rate which is also visible in their quarterly earning reports and all eyes will be watching as they release their third quarter results this afternoon.
Cardano’s ADA token kicked off trading early Tuesday morning by outpacing both Bitcoin and Ethereum, gaining 13% and rising up to hit a valuation of $2.30. Both Bitcoin and Ethereum are in a new price discovery phase and have been hovering around their respective all-time highs. Cardano’s recent movements have lit a new fire for altcoin enthusiasts who hope that ADA will join in on the current crypto bull run.
Three Cryptocurrencies That Saw Explosions In Pricing During 2021
Bitcoin Pulls Back Below $58,000 In Minutes Amid Profit Taking From Long Positions
Ethereum Flashing Bullish Signals, Could Challenge All-Time Highs And Break Past $6,000