Ethereum, the world’s most used blockchain network, has passed a milestone test ahead of a highly anticipated technical upgrade.
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Some investors are betting that bitcoin is bottoming out, judging by the money heading into listed cryptocurrency funds.
Decentralised-finance investors are betting on ethereum’s revamp to help thaw out the market’s more than two-months-long crypto winter.
The collapse of one of decentralised finance’s most ambitious experiments has knocked more than $83-billion off the sector’s total value.
Cryptocurrencies nursed large losses on Friday, with bitcoin set for a record losing streak as the collapse of TerraUSD rippled through markets.
Bitcoin fell to its lowest level since January on Monday as slumping equity markets continued to hurt cryptocurrencies.
Bitcoin is tipped to extend losses as investors shy away from risk assets amid a reassessment of the pace and magnitude at which the US is set to tighten policy.
Sometime later this year, ethereum is set to make the biggest change in its near-decade history. The most important commercial highway in crypto is about to be completely repaved.
Bitcoin on Tuesday held ground just below its highest this year, touched a day earlier, with gains for the original cryptocurrency topping 27% since Russia’s invasion of Ukraine.
Crypto assets are advanced tools of globalisation that work in complex, well-functioning markets. They’re not protections against the depredations of hostile governments.