Bitcoin, the world’s first and largest cryptocurrency, is back above $50,000 on Thursday. Bitcoin reached this level on August 23, before pulling back.
BTC is up 5.5% in the last 24 hours, according to CoinGecko, peaking at the local high of $50,171. With a market cap of $941.6 billion, Bitcoin currently dominates 40.6% of the market.
While this can be considered a rather positive start to a new month, historically September has been a difficult month for Bitcoin bulls.
Data from bybt.com shows that investors have suffered losses in September for the past four years in a row, with maximum monthly returns slightly exceeding 6%.
Ethereum, the second-largest cryptocurrency, is up 5.8% over the day, having re-tested levels above $3,800. At press time, ETH is changing hands at $3,742.
Meanwhile, Cardano (ADA), which climbed to the third spot last month, hit a new all-time high of $3.09 earlier today, as the network prepares for the Alonzo hard fork–an eagerly anticipated upgrade that will bring smart contract functionality.
Smart contracts are bits of code that self-execute commands and instructions under predetermined circumstances.
As revealed by IOHK, the company developing Cardano, smart contracts went live on the network’s testnet yesterday, with the mainnet rollout slated to occur on September 12.
So there we have it. Since c. 20:20 UTC today, the #Cardano Testnet now officially supports #Plutus#smartcontracts. Final testing & integrations ahead. SPOs will now upgrade their mainnet nodes. Then next stop… mainnet upgrade. Still on track for 12 September. Onward! $ADApic.twitter.com/Wl5CUpRB4L
Several leading altcoins that rallied amid Bitcoin’s recent consolidation have stalled, prompting signs of fatigue across the broader market.
But is the sector nearing a pullback, or are current moves just macro tremors ahead of another upward leg?
Bitcoin is trading in a narrow range between $117,000 and $120,000, entering a period of consolidation following a strong rally.
In its wake, major altcoins have surged, with Ethereum up 24%, Solana 20%, and XRP 12% since the July 15 low.
The patte...
Ethereum has made a comeback, recently hitting its highest price this year—but it still has plenty of room to run, according to crypto mogul Arthur Hayes.
In a new blog post by the co-founder and former chief of crypto exchange BitMEX, Hayes argues that the second biggest digital coin by market cap could reach $10,000 by the end of the year. That's more than double the coin's all-time high price.
ETH was recently trading for $3,590 per coin, according to CoinGecko, down slightly after hitting t...
Jack Dorsey's Block (XYZ) has started adding the first customers for its Bitcoin payments service, just as the firm joins the S&P 500.
Shares of the NYSE-listed company, which owns Square, Cash App, and TIDAL, closed up 0.5% but have risen more than 14% over the past week.
Dorsey stepped down as CEO Twitter, the company he founded, in 2021 to focus on making Bitcoin the world's dominant currency.
Block's executive officer and head of business, Owen Jennings, said on X Tuesday that Block's point...