Cryptocurrency prices showed signs of recovery across the board on Wednesday after almost a week of declines. Dogecoin led growth among cryptos with large market values, rising for a second day. Prices of the memecoin had jumped Tuesday after Tesla CEO Elon Musk tweeted that the electric-car maker would start accepting it as payment for […]
Dogecoin Leads Gains as Crypto Markets Show Muted Recovery
Bitcoin Miner CleanSpark 2021 Revenue Rises 400%
CleanSpark’s total revenue rose 400% in its 2021 fiscal year, but the sustainable bitcoin mining and energy technology company also recorded a net loss of $21.8 million, or $0.75 per share, it announced on Tuesday. For the year ended Sept. 30, CleanSpark generated $49.4 million in revenue, up from about $10 million the previous year. […]
What Gives Crypto Its Value?
Where does crypto get its value? Where does anything get its value? It’s really quite simple: If enough people agree that something is valuable, it becomes valuable. That was how ancient currencies like gold or even cowrie shells derived their value, and this applies to the value of artwork. It doesn’t matter why people desire […]
Bitcoin Struggles to Break $47K as Fed Meeting Looms
Bitcoin, the world’s largest cryptocurrency, was lower as the market prepares for this week’s Federal Reserve monetary policy meeting, where the U.S. central bank is expected to slow down its money printer. The two-day meeting, which starts Tuesday and concludes Wednesday, is expected to end with the Fed announcing plans to cut the pace of […]
Avalanche, Cosmos Lead Crypto Losses Amid Altcoin Purge
Tokens of the Avalanche, Algorand and Cosmos blockchains were among some of the biggest losers early Tuesday as the crypto market took a hit. The moves came as stocks fell in Asia amid a move to less risky assets. Avalanche (AVAX) slid as much as 11% to a support level of $77 at press time, […]
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