Shiba Inu (SHIB) was by far one of the hottest coins of 2021. People made…

The post Shiba Inu (SHIB) snaps sustained downtrend – Can it finally rally in 2022? appeared first on Coin Journal.

The broader crypto market is rebounding today after a choppy start to 2022. As…

The post Forget about the 2022 crypto slump: These are still the best altcoins to buy now appeared first on Coin Journal.

The cryptocurrency market has had a record year in 2021, briefly surpassing $3 trillion in value in November. Two of the most valuable cryptocurrencies i.e., Bitcoin and ether, both reached new highs, while Altcoins like meme-inspired dogecoin grew in popularity. Other digital assets, such as nonfungible tokens, or NFTs, were auctioned alongside fine art for millions of dollars at prominent auction houses like Sotheby’s and Christie’s. NFTs representing in-game assets and digital land, in addition to art, saw a significant increase in value. Retail and institutional investors have shown interest in blockchain-based applications, such as decentralized finance, or DeFi, fueling the expansion of Web3, which is the decentralized version of the internet based on blockchain technology that powers NFTs and underpins cryptocurrencies. All of this contributed to the mainstreaming of cryptocurrency in 2021. People started to read, learn and accept the world of cryptocurrencies on a huge scale. And even though the market is going through a correction it is also a matter of time that the market will bounce back. In the year 2021, the crypto market saw a lot of changes. Large corporations, diverse governments (countries), influential and well-known individuals such as Elon Musk and ex-Twitter CEO and internet entrepreneur Jack Dorsey have all had an impact. This has a significant impact on public awareness, as well as the price of cryptocurrencies like Bitcoin and Ethereum, among others. So let’s take a look at the most happening events this year to do a detailed review of the 2021 crypto market. These events can be held responsible for shaping the crypto market last year. Though there were countless defining moments this year, here are the 6 major highlights from 2021. Bitcoin Reaching Its ATH and the Launch of Taproot  Bitcoin reached its all-time high price of $68,000 in November 2021. And it’s the highest bitcoin price ever recorded. Bitcoin’s recent market pricing demonstrates a continuous increase in market price, despite occasional price drops. Let’s have a look at the price of Bitcoin in 2021. The price of Bitcoin increased to its highest point before falling to its lowest point in the first half of 2021, as indicated in the graph below. However, due to tremendous demand for Bitcoin and the impact of favorable news, the price rose sharply to its all-time high in November. The year 2021 also saw the release of Taproot, a significant technological update to the Bitcoin protocol. Taproot is a three-part upgrade that boosts network security, privacy, and scalability. Since the activation of Segregated Witness’s block capacity boost in 2017, Taproot is the most significant upgrade to the Bitcoin network. Taproot served as a reminder that Bitcoin is a flexible technology that can evolve to improve usability and user experience. The future success of Taproot will serve as proof that Bitcoin can adapt.  El Salvador Made Bitcoin a Legal Tender in the Country El Salvador became the first country to embrace bitcoin as legal cash when it passed a new law in June. El Salvador’s law permits bitcoin to be used to pay for goods and taxes. According to CNBC, businesses can price their products in bitcoin, and exchanges will not be subject to capital gains tax. The government of President Nayib Bukele is banking on Bitcoin to boost the country’s economic growth and investment, given that the price of Bitcoin continues to rise. We’ll go over Bukele’s concept for a Bitcoin city here. The city will be built near the Conchagua volcano to take advantage of the country’s geothermal energy, which will be used to power both the city and cryptocurrency mining, which is an energy-intensive process of solving complex mathematical calculations 24 hours a day, 7 days a week to verify and add crypto coins to the Blockchain network. It’s worth noting that El Salvador already has a Bitcoin mining pilot project underway at a geothermal power station near the Tecapa volcano. Residents in Bitcoin city, according to Bukele, will not have to pay any income, property, capital gains, or even payroll taxes. The city would be constructed to attract international investment. Ethereum On The Top of its Game It’s no surprise that bitcoin’s dominance, a measure of BTC market capitalization compared to the market capitalization of other digital assets, declined from 70.2% to 40.1% in 2021, thanks to Ether’s stronger asset price performance. Bitcoin’s decline is not solely due to ETH; rather, crypto projects have sprung out with a variety of use cases that are not directly competitive with Bitcoin.  From EIP 1559 through the approaching shift to proof-of-stake, Ethereum has had huge catalysts. Both events are crucial in the development of a narrative for Ethereum’s native asset, as well as the evolution of Ethereum as a technology. EIP 1559 established ether’s position as “gas” in the ecosystem, requiring that it be … Continued

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The report also compares the asset to security-centric Ethereum and DeFi newcomer Avalanche.

Exchanges decry the decline in trading volumes since the start of the week. Retail traders adopting the hodling strategy may be responsible.  Some analysts believe that a reversal of fortune is around the corner for the markets.  Major crypto exchanges have noted that daily trading volumes are taking a steep dive on their platforms in […]

Citing the privacy dangers posed by China's digital yuan, Rep. Tom Emmer proposed a bill to bar the Fed from creating a digital currency for consumers.

The technical term "death cross" sounds scary as hell. As Bitcoin and Ethereum are poised to hit one, what do crypto traders think?

How to get an instant loan using your Maker? A fact that can never be disassociated from cryptocurrency is its overwhelming price fluctuations. It is a challenge that affects any usage of crypto assets, be it trading, exchange or investments. However, this volatility has been tackled with the emergence of more stablecoins and the increasing ... Read more

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Non-fungible tokens, or NFTs, are digital assets that are provably unique. They can be used to represent both tangible and intangible items.

As you attempt to strike it rich in the digital gold rush, make sure you know how to recognize various schemes that want to part you from your digital coins

The post Cryptocurrency scams: What to know and how to protect yourself appeared first on WeLiveSecurity

  By FintechNews staff Last year, Kazakhstan became the world’s second-largest center for bitcoin mining, after China banned Bitcoin mining in May, leading to what has been dubbed the “great mining migration,” with many of the country’s miners crossing the border to Kazakhstan. The world’s largest center for Bitcoin mining is the United States, according to the Cambridge Centre for Alternative […]

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Meme coins have dominated the crypto space in the past year generating staggering results for investors. These coins, primarily based on internet memes and parody, have resulted in huge communities that primarily influence the popularity and adoption of the tokens. Despite the growing popularity of meme coins, only a few have real use-cases. Shar Pei [...]

The post Shar Pei: A Unique Meme Coin Aims to Overtake Shiba Inu in 2022 appeared first on Blockonomi.