Author: Yahoo Finance
A year filled with highs and lows for cryptocurrency is ending with surprising winners — neither of which are Bitcoin, Dogecoin and Shiba Inu, the three digital coins that grabbed most of the headlines in 2021. Ether was one of the year’s biggest winners, more than quadrupling Bitcoin as an investment. Despite heavy investor buzz and new exchange-traded funds, the leading cryptocurrency spiked to a fresh record near $69,000 — only to retreat in dramatic fashion this month, and is currently languishing below $50,000. As of Friday, Bitcoin has added over 60% year to date, and ETH is up 410%, according to…
Cryptocurrency investors should keep track of various costs associated with Bitcoin mining, Tyler Page, CEO of Bitcoin mining company Cipher Mining (CIFR), said in a Wednesday interview with Yahoo Finance Live. “2022 for the entire industry of Bitcoin mining, I think is going to really be about execution,” said Page. Cipher Mining, which says it’s dedicated to “providing and securing the vital infrastructure necessary for the Bitcoin network to flourish into the future,” made crypto news headlines this past October after purchasing several dozens of thousands of next-generation bitcoin mining hardware from Bitfury, a Bitcoin Blockchain infrastructure provider. The group is also backed…
Governments around the world have been looking at adopting, regulating and even banning cryptocurrencies since the inception of Bitcoin. Ever since, the crypto ecosystem has been a rocket ship ride to the moon and back (multiple times). Today, it seems that more people than ever have hopped on for the ride. We’ve also seen a massive shift toward digital platforms across all industries as a result of the pandemic. Political leaders globally have followed suit by taking steps to move their economies in the same direction. One of the most recent examples is El Salvador, which made headlines by becoming…
Cryptocurrency mining is the way that new cryptocurrency is created. For example, in the case of Bitcoin, miners validate transactions on the blockchain and are rewarded with Bitcoin for their efforts. But Bitcoin isn’t the only cryptocurrency that can be mined. Many of the most prominent cryptocurrencies, such as Ethereum and Litecoin, can also be mined. Of course, earning money from mining cryptocurrency isn’t as easy as simply turning on your computer. While mining may have been relatively easy in the early days of crypto, it has become a highly competitive business. Still, anyone can theoretically make money from crypto mining.…
In 2021, Microsoft (MSFT) – Yahoo Finance’s company of the year – saw its market capitalization top $2 trillion. During the year, the ascendant cryptocurrency asset class set two major milestones: its market cap also topped $2 trillion, and Coinbase (COIN), the most popular U.S. based crypto exchange, went public on the Nasdaq through the largest ever direct listing. With a market cap of just over $70 billion, Coinbase’s value is just a fraction compared to tech heavyweights like Nasdaq, but is multiples higher than the $8 billion valuation it fetched only a few years before. That’s no small feat considering Coinbase Global CEO…
LUNA, the native token of decentralized payments network Terra, bumped to over $100 in European hours on Friday to lead a ‘Santa rally’ in crypto markets. Traders took advance of Thursday’s 10% decline to $85 to bring LUNA back to its previous high of $96 in early Asian hours. Then an announcement by crypto exchange Binance that it will list UST, a stablecoin issued on the Terra network, pushed LUNA above $100. The price met resistance at that level and was down 5 cents at press time. LUNA, the native token of decentralized payments network Terra, bumped to over $100 in European hours on…
Major cryptocurrencies slumped on Thursday morning with bitcoin continuing to hover under a key level of $50,000 (£37,357) as worries about the new COVID Omicron variant continues to spook the wider market. Investors appear to be shifting focus to smaller crypto assets, which saw an uptick in price. Bitcoin (BTC-USD) was down 1.8% at the time of writing to trade at $48,310. The price of bitcoin had surged earlier in the week, crossing $49,000 but failing to hit $50,000. And its down about 30% from its all-time high of roughly $69,000, which it hit last month. Ethereum (ETH-USD), the second…
Major athletes and musicians have gotten paid in cryptocurrency – and now real estate agents can as well. A specialty real estate firm called RLTY Capital is the first to offer brokers the option to get their commissions paid up front, in crypto, underscoring how digital coins are becoming a more mainstream part of financial transactions. “As crypto has become more widely used, we decided that it would be a good option to offer agents and that it is quite possibly the way of the future,” Briggs Elwell, CEO and co-founder of RLTY Capital, told Yahoo Finance in an interview.…
The emergence of Web3, a vision of the internet built on blockchain-based, decentralized systems, has many investors licking their chops because of its financial upside. Meanwhile, others are betting on Web3’s downfall. The rise of NFTs, or non-fungible tokens, in popularity and demand may be the clearest indication of Web3’s promise. “NFTs will be ubiquitous,” Brandon Buchanan, founder and managing partner of Meta4 Capital, a crypto-focused investment management firm, told Yahoo Finance this week. “Everything we’re doing now, and we’re starting with art and collectives, will shift to gaming and everything from ticketing to events.” NFTs, which are one-of-a-kind digital assets, surpassed $22…
Founded in 2010, Athletic Greens built its business through traditional partners, creators, influencers and thought leaders. Now, the nutrition company is gearing up to take the “ownership economy” concept into the next generation — with blockchain, the technology fueling the surge in popularity of cryptocurrency and non-fungible tokens (NFTs), also known as Web 3. “It’s so easy for this topic around Web 3, NFTs, blockchain to feel daunting and overwhelming,” according to Kat Cole, president and COO of the direct-to consumer subscription company. “There is a way to thoughtfully move a Web 2 company into Web 3 by stepping back and…