Tag Archives: Cryptocurrency

Ethereum Classic Price Explodes 34%, Blasts Cryptocurrency to 4-Month High

CoinMarketCap data shows the Ethereum Classic price established an intraday high at $7.79, its best mark since November 16, 2018, on an hourly candle. On Coinbase, ETC formed higher highs towards $14, indicating that the demand on the US crypto trading platform was soaring compared to other exchanges. Whether or not US traders were able to benefit from the vast ETC price imbalance was unclear at this time of writing. Continue reading Ethereum Classic Price Explodes 34%, Blasts Cryptocurrency to 4-Month High

CRYPTOCURRENCY TAXES: WHAT YOU NEED TO KNOW

Taxes are one of the most important things to consider when dealing with assets of any kind, especially since failure to do so could lead to problems with the IRS. Some people are not aware that cryptocurrency is an asset, just like any other asset class when it comes to taxes. But the process may seem so complicated that people fail to file in their tax returns. Continue reading CRYPTOCURRENCY TAXES: WHAT YOU NEED TO KNOW

DASH Cryptocurrency Coin Now Works with Equicex Debit Cards And Exchanges

Through this development, both Equicex and Dash will benefit from increased crypto use. Even though consumers can use Dash at over 4,800 merchants in the world although there is a lot of room for progress to be made. A crypto debit card improves consumer options when making purchasing decisions and seamlessly switching between merchants that directly accept cryptocurrencies and those that do not. Continue reading DASH Cryptocurrency Coin Now Works with Equicex Debit Cards And Exchanges

What Is Circulation Supply In Cryptocurrency?

With Bitcoin’s exponential growth and its overall success, new investors are looking to invest in cheaper digital coins in hopes of catching the next coin on its path to reach $3,800.

Investors prefer to buy coins which are as cheap as a fraction of a penny hoping to see the same results as was seen in the case of Bitcoin (BTC) and Ethereum (ETH). But, they often ignore one key ingredient: Circulation Supply.

At the time of writing this post, BTC has a circulating supply of 17.5 million coins, with the highest amount of bitcoin being capped at 21 million coins depending on the code.

With the existing price of around $3,800, that brings the market cap to roughly $68 Billion, market capitalization measures the total sum of coins in circulation times with the current market price (17,583,862 BTC x $3,878.74 ~ 68,190,216,836). This gives Bitcoin the largest market capitalization of any coin, at the time of writing (March 3rd, 2019).

What tends to happen is that new investors buy into crypto projects with billions of coins in circulation hoping that they would rise to prices similar to BTC. But, that’s impossible! Here’s why?

Imagine a project, ABC, that has 50 billion coins in circulation. Let’s say today, 1 ABC = $0.10, that would bring the market capitalization of ABC to $5 Billion (50 billion x $0.10).

Reference: https://www.btcwires.com/round-the-block/what-is-circulation-supply-in-cryptocurrency/

Cardano Analysis- the Decentralized Blockchain and Cryptocurrency Project With a Difference

The open source, decentralized blockchain and crypto project called Cardano is here to make a difference. But what sets it apart from the current crypto competitors? Comparing it with the other cryptocurrencies, it is surely a step forward in terms of innovative advancements. The completion between Cardano and Ethereum ETH is not that stiff. On the one hand, Cardano is on its way, but in case ETH was to make the required amendments and advancements shortly before Cardano, there are high chances for ETH to hold strong grounds in the crypto market as a dApp, i.e., decentralized application. Continue reading Cardano Analysis- the Decentralized Blockchain and Cryptocurrency Project With a Difference