On this week’s The Market Report, resident experts at Cointelegraph discuss what the ramifications would be if Grayscale Bitcoin Trust were to collapse.
We start this week’s show with the latest market news:
bitcoin (BTC), the largest cryptocurrency, much like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of the FTX exchange.
Contagion is the word on everyone’s lips as November rolls on – much like Terra’s collapse earlier this year – and fears are that new victims of FTX’s giant liquidity vortex will continue to surface. Grayscale Bitcoin Trust (GBTC) seems to be on everyone’s radar this week for all the wrong reasons. Will this be the next Black Swan event? We break down all the details about GBTC to keep you up to date.
The total crypto market capitalization has fallen to less than $800 billion, but the data highlights a few reasons why some traders are bullish. Our own Marcel Pechman explains why some traders are actually optimistic, a sentiment that seems very counter-intuitive. Marcel has very good reasons for this, so be sure to tune in to find out.
Proof-of-stake blockchain platform Cardano has teamed up with Coti, a layer-1 protocol based on a directed acyclic graph, to launch what it calls an oversized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin would be backed by excess collateral in the form of cryptocurrency stored in a reserve. Do we need another stablecoin? How will this be different from the existing stablecoins already in circulation?
CoinMarketCap, a leading market researcher and tracker in the crypto industry, has announced the launch of a new feature on its platform that gives users up-to-date financial information on exchanges.
The proof of reserves (PoR) tracker audits active cryptocurrency exchanges in the industry for transparency on liquidity at any given time. According to the announcement, the tracker details the company’s total assets and its affiliated public wallet addresses, as well as wallet balances, current price and values. Our experts break down the need for such a tool and how it helps the industry.
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