Could a Grayscale Bitcoin Trust Collapse Be the Next Black Swan Event? See the market report
On this week’s The Market Report show, Cointelegraph’s resident experts discuss what the consequences would be if the Grayscale Bitcoin Trust were to collapse.
We start this week’s show with the latest news on the markets:
GBTC next BTC price black swan? — 5 things to know in Bitcoin this week
Bitcoin (BTC), the largest cryptocurrency, just like the rest of the crypto industry, remains highly exposed to downside risk as it continues to deal with the fallout from the FTX exchange implosion.
Contagion is the word on everyone’s lips as November looms – just like the Terra collapse earlier this year – and the fear is that new victims of FTX’s giant liquidity maelstrom will continue to emerge. Grayscale Bitcoin Trust (GBTC) seems to be on everyone’s radar this week for all the wrong reasons. Will there be the next Black Swan event? We break down all the details surrounding GBTC to keep you updated.
Data shows traders are slightly bullish even as crypto’s total market cap falls below $800B
The total crypto market capitalization has fallen below $800 billion, but data highlights a few reasons why some traders are bullish. Our own Marcel Pechman explains why some traders are actually bullish, a sentiment that seems highly counterintuitive. Marcel has some very good reasons for this, so be sure to tune in to find out.
Cardano launches new algorithmic stablecoin in 2023
Proof-of-stake blockchain platform Cardano has partnered with Coti, a directed acyclic graph-based layer-1 protocol, to launch what it refers to as an overcollateralized algorithmic stable coin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form of cryptocurrency stored in a reserve. Do we need another stablecoin? How will this differ from the existing stablecoins already in circulation?
CoinMarketCap launches proof-of-reserve tracker for crypto exchanges
CoinMarketCap, a leading market researcher and tracker in the crypto industry, announced the launch of a new feature on its platform that provides users with up-to-date financial insights on exchanges.
The proof of reserves (PoR) tracker audits active cryptocurrency exchanges in the industry for liquidity transparency at a given time. According to the announcement, the tracker details the company’s total assets, and its associated public wallet addresses, along with the balances, current price and values of the wallets. Our experts break down the need for such a tool and how it helps the industry.
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