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
Bitcoin snapped a five-day winning streak on Thursday, with modest losses of 1.3% over 24 hours as the crypto market’s recent rally cooled off.
The world's biggest digital asset had accelerated to highs of $94,500 at one point, but briefly slipped below $92,000 in the early hours of Thursday morning. At time of publication, Bitcoin's price sits at $92,349, down 1.2% on the day, according to CoinGecko.
BTC got off lightly compared with leading altcoins, with both XRP and Dogecoin slipping by 5.5%...
Publicly listed Bitcoin miner Riot Platforms has secured a credit facility of up to $100 million from Coinbase Credit, the lending arm of the U.S.-based crypto exchange giant.
The Bitcoin-backed facility is secured by a portion of Riot Platforms’ Bitcoin holdings and will be used to "pursue key strategic initiatives.”
“Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing,” Riot CEO Jason Les said in a statement....
Canadian investment firm SOL Strategies has secured a $500 million convertible note to buy Solana, the company announced on Wednesday, reflecting the growing interest in the crypto that has been popular among meme coin developers and others who favor its speed compared to rivals.
The company, which trades on the Canadian Securities Exchange under the ticker HODL, described the agreement with New York investment firm ATW Partners as the largest and first of its kind in the Solana ecosystem.
“Th...
