The cryptocurrency industry’s struggles to attract mainstream investment continued last year as global fund raising and deals both dried up, according to a new report from PricewaterhouseCoopers.
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After weeks of brutal selling, technical gauges are signalling potentially positive developments ahead for battered crypto assets.
Large professional and institutional traders were among the biggest sellers during the rout that saw bitcoin tumble about 40% this month, according to analysis from researcher Chainalysis.
Bitcoin is proving to be no haven asset amid the current global market meltdown. The price of the largest digital currency continued to swing wildly as the latest rout showed no signs of slowing down.
Bitcoin slumped through $6 000 on Thursday, leading a rout of cryptocurrencies amid a wider global risk asset sell-off over the intensifying coronavirus crisis.
Cryptocurrencies are not immune to the gyrations rocking global markets, plunging along with a broad range of assets on Monday in the wake of the collapse in crude oil prices.
Facebook and its partners are considering redesigning the libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators.
Arguments that the largest digital token acts as a place of shelter during market turmoil diminished this week as bitcoin slumped amid an intense bout of equity-market selling.
Cryptocurrency exchange Luno has added the ripple, or XRP, cryptocurrency to its platform in response to growing demand for so-called “altcoins”.
US banking giant JPMorgan Chase & Co is broadening its perspective on blockchain technology to show how digital money will change the financial world.