The world of the crypto news is recently triggered by the significant downfall in the hashrate of Monero [XMR]. This report is in accordance to the Bitinfocharts that stated that after the hard fork, the hashrate has experienced a conspicuous fall. As per the Coinmarketsap, Monero [XMR] which happens to be a privacy coin occupies the tenth position in the list of all cryptocurrencies. Consequently, the downfall has erupted a wave of delight among the Monero community members. One of the crypto enthusiasts has commented on this event, “Monero has won its first battle with ASICs”. The underlying reason that prompted the hard fork was the concern among the community members regarding the upcoming centralisation of the token. See also: Coinhive generates around $240,000 worth of Monero [xmr] each month
Basic Attention Token is 40th on the crypto market with a market cap of $197 million and while this doesn’t sound much, this digital coin has come a long way. The founder… Continue reading “What Is Basic Attention Token And How It Will Change Ads”
Ripple Price Key Highlights Ripple price has completed its retest of a former resistance level, which has held as support. Price could be due to climb to Ripple price appears to be gaining bullish traction but has yet to break out of a short-term symmetrical triangle.
“I’m going to burst your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin enthusiast, explained Bitcoin ETF. He was of the opinion that his explanation would make several crypto enthusiasts interested in the Bitcoin ETF take their steps back as it is a “terrible idea”. “I know a lot of people really want to see an ETF happen because “to the moon and lambos!” But I think it is a terrible idea. I still think it is going to happen, I just think it is a terrible idea. I’m actually against ETFs. I think a Bitcoin ETF is going to be damaging to the ecosystem,” he said. SEE ALSO: U.S. Congressman invites exchanges, crypto firms to discuss ICO regulation: report
Bitcoin ETF can manipulate prices
Pertaining to Bitcoin ETF’s capability of attracting substantial amount of exposure, its emergence has given rise to expectations. It has also seen a surge in prices and trading volumes once it has been approved. ETFs can open the Bitcoin market to a group of institutional investors and can also provide a platform for large investors to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he said: “Everybody is so excited about ETFs. What we have seen in other markets is that when an ETF becomes available, the price really increases dramatically, as suddenly that commodity becomes available to a lot more investors and these investors pile on. SEE ALSO: EOS, Ethereum and Komodo are the top 3 coins according to the Chinese Government “But, the other side of it, is that there are always these claims that the commodities markets are heavily manipulated and opening up these ETFs only increase the ability of institutional investors to manipulate the prices of commodities.” Image via Shutterstock Join our Telegram group