Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99% of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platform co-founded by Korean developer Do Kwon and, according to…
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Cryptocurrencies like bitcoin were meant to be used as digital cash. Instead, they’ve become popular as speculative investments. As well as being resource-intensive and inherently wasteful, cryptocurrencies are also incredibly volatile. Prices for the largest cryptocurrencies, bitcoin and ethereum, have both dropped by over 55% in six months, leading some to suggest that regulation is…
Bitcoin edged above $30,000 on Tuesday in cautious trading as the fallout over a collapsed stablecoin continued to keep sentiment in check. The world’s largest cryptocurrency rose 2% to about $30,500 as of 9:08 a.m. in London. Other coins from Ether to Avalanche also posted modest gains. Bitcoin is nursing a 21% loss so far…
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Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to circle. European officials reiterated warnings of risks posed by cryptocurrencies. Bitcoin fell 5% to around $29,700 on Monday in Asian trade, sliding alongside stocks because of worries about high inflation and rising interest rates….
Game companies with products featuring virtual coins and other blockchain functionalities remain on heightened alert over adverse effects from the recent collapse of the TerraUSD and Luna cryptocurrencies, industry officials said on Monday. Cryptocurrencies operated by South Korean gaming companies for in-game purchases and trading have undergone volatile trading since May 10, when TerraUSD and…
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Cryptocurrencies trended lower Saturday in the wake of the collapse of TerraUSD and the most volatile week for Bitcoin trading in at least two years. The price of Bitcoin, the world’s largest cryptocurrency, slipped around 2.5% by noon in London to hover near the $29,000 mark, according to pricing by Bloomberg. Ether fell back below…
Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader financial markets have so far seen…
