Mysterious Address With $3 Billion in Dogecoin Sends Cryptic Binary Messages to Elon Musk

Ever since the infatuation between Elon Musk and the meme-based cryptocurrency dogecoin, a number of people have looked at the asset critically. News.Bitcoin.com recently reported on the mysterious dogecoin wallet that absorbed more than 27% of the coin’s supply since February 6, 2019. This week, the dogecoin wallet with $3 billion worth of the crypto […]
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Crypto Financial Services Firm Blockfi Launches Competitive Bitcoin Trust

Crypto Financial Services Firm Blockfi Launches Competitive Bitcoin TrustThe cryptocurrency financial services firm Blockfi has launched a bitcoin-based trust that offers custody from Fidelity Digital Asset Services. Blockfi’s investment vehicle aims to give investors exposure to the leading crypto asset as bitcoin assets under management (AUM) was over $29 million on February 8, 2021. Blockfi Launches a Competitive Bitcoin Trust With a Sponsor […]
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Bitcoin Futures Open Interest Smashes $15 Billion, CME Registers Over $33 Million in ETH Contracts

Following the revelation that Tesla now owns $1.5 billion in bitcoin, crypto spot markets across the board skyrocketed. Data shows that crypto derivatives markets also saw significant demand as bitcoin futures open interest tapped $15 billion on Monday. Moreover, this week was the start of ethereum futures on CME Group’s exchange, and ether-based futures registered […]
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Bitcoin volatility almost returned to ‘Black Thursday’ levels in January

A report from Kraken has identified last month’s BTC volatility at levels not seen since the ‘Black Thursday’ crash of early 2020.

With Bitcoin rallying from $30,000 to $42,000 and back again during January, BTC’s annualized volatility rose to levels last seen in April 2020, according to a new report from U.S. crypto exchange Kraken.

January was a roller-coaster ride for Bitcoin, with BTC rallying 46% to a new high of $41,989 before retracing 32% to below $29,000. This resulted in the annualized volatility spiking to over 100% — which was last seen 10 months ago during the infamous ‘Black Thursday’ price plummet.

Bitcoin price vs. volatility vs. trading volume. Source: Kraken

In early-March 2020, Bitcoin’s price dove more than 40% in a matter of days from $9,000 to $5,200 — resulting in volatility spiking from 60% to more than 150%.

Despite its surging volatility, Bitcoin registered the smallest volatility spike of the top five crypto assets by market cap (excluding Tether).

Polkadot (DOT) finished the month with the largest volatility of 228%, followed by Cardano (ADA) with 183%, and Ethereum (ETH) with 160%. Unlike Bitcoin, ETH, DOT, and ADA evaded heavy corrections during January, closing out the month near their respective local highs.

Looking forward, Kraken anticipates that Bitcoin’s price will trend upwards with reduced volatility during February:

“Given that Feb., on average, returns six percentage points more than Kan. and is 15 percentage points less volatile, one might expect Feb. to outperform Jan. and volatility to dwindle as BTC melts up.”

However, not everyone is convinced Bitcoin will continue its road to higher peaks. Famed gold-bug and notorious Bitcoin-skeptic, Peter Schiff, speculated BTC’s bullish momentum is unlikely to last, predicting it will be superseded by the surging meme-coin DOGE:

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Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows Suit

Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows SuitWhile a number of digital currencies have seen price gains the two leading crypto assets, bitcoin and ethereum have seen transaction fees skyrocket. For instance, data shows that the median fee for a bitcoin transaction is $8.58, while the median fee is $9.35 when spending ether. Meanwhile, the average transaction fee for both networks has […]
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