The crypto market has had a tumultuous few weeks. But today, as things in crypto have settled and the price of most cryptocurrencies have remained relatively stable over the past two days, two altcoins are pumping like mad.
Dash, the 20th largest crypto by market cap, is currently up more than 22% on the day, trading for $57 per coin. It’s a far cry from where the crypto stood just this past February, when it was trading for $114.
Still, the more than 20% jump is curious, with no clear answer for why the coin is performing the way it is. One possibility is the launch of the Dash v0.11 platform, which has received some enthusiasm from Dash supporters. The new platform “includes the ability to register public data contracts,” among other new features.
But the big winner today is Steem, which clocks in at 57 on the market cap rankings. Steem, the token that powers the Reddit-like Steemit web forum, is today trading for $0.18 per coin—a jump of close to 40% in one day.
The excitement behind Steem at the moment is likely tied to its upcoming hard fork, which seeks to wrest control away from Tron CEO Justin Sun, who recently acquired Steemit Inc., the company that developed the Steemit forum on the Steem blockchain.
As part of the acquisition, Sun got 20 percent of Steem’s total supply, which many members of the Steem community weren’t very happy about. They’re now looking to fork Steem and create an entirely new chain that renders Sun’s tokens useless.
And earlier today, the biggest crypto exchange in the world by volume appeared to voice its support for that plan:
Coinbase has now overtaken two of the world's largest securities exchanges in terms of transaction revenue, according to a crypto analyst from the private bank Coutts.
The crypto exchange generated $5.75 billion in transaction revenue over the past 12 months, compared to just $4.54 billion for the Nasdaq, where many of the world’s most valuable companies, including Apple, Google, and Microsoft, are traded.
Coinbase also surpassed the Stock Exchange of Hong Kong, the HKEX, which generated $2.67 b...
After several extended reviews since June this year, the Securities and Exchange Commission (SEC) has finally approved the first spot exchange-traded funds combining Bitcoin and Ethereum.
The agency has authorized Nasdaq to list the Hashdex Nasdaq Crypto Index US ETF and the Cboe BZX Exchange to list the Franklin Crypto Index ETF, according to a filing released Thursday.
"The proportion of bitcoin and ether to be held by each Trust will be based on free-float market capitalizations," the filing...
Dogecoin (DOGE) fell 12.4% in the past 24 hours as a broader market decline continues, triggered by the Federal Reserve's latest economic outlook.
The meme coin has dropped to $0.31, while trading volume surged 67% to $10.25 billion as holders repositioned their bags. It's now down 35% from its 2024 high of $0.47.
Despite the pullback, Dogecoin's market capitalization remains at $46.6 billion, maintaining its position as the seventh-largest crypto.
Powell's hawkish comments about higher-than-exp...
