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☆ The case for altcoins and memes as bitcoin, now approaching $100,000, faces a potential correction
▼ + stars: | 2024-11-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

There are thousands of altcoins on the crypto market that are smaller, cheaper, younger and less sophisticated than the blue-chip bitcoin. "It has not been alone … crypto coins across the board have exploded higher in recent weeks. The riskiest business At the furthest end of the risk spectrum are meme coins like dogecoin , whose trading ballooned after the election . "I'd urge long-term investors to not place too much emphasis on meme coin activity — easy come, easy go," said Ryan Rasmussen, an analyst at Bitwise Asset Management. "While meme stocks such as Gamestop and AMC are a small part of the equity market, meme coins are a larger part of the crypto market and represent an outsized share of volume."

Persons: Gary Gensler, They've, bitcoin, Wolfe, Rob Ginsberg, it's, Mike Novogratz, Wolfe's Ginsberg, Donald, they've, Ryan Rasmussen, Zach Pandl, John Todaro, Robinhood, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, Trump, Galaxy Digital, Solana, Bitwise Asset Management, lotto, Grasycale Investments, Gamestop, AMC, Robinhood Locations: overbought, bitcoin

☆ Memecoin gains will fade as crypto rally presses on. Look to these names instead, says Bank of America
▼ + stars: | 2024-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Memecoins have seen some of the biggest gains in the postelection crypto rally, but market leadership could soon flip to more "serious" tokens. "We don't expect the rally to resemble the '17 or '21 bull markets and would fade the rally for 99% of tokens in circulation with no intrinsic value," Shah said in a note this week. "We expect token prices to diverge in the near term as BTC and cash flow-generating tokens that power networks outperform meme tokens." "These tokens power blockchain operating systems, similar to Microsoft Windows, that enable developers to build applications like decentralized exchanges and Web3 platforms on top of them, creating networks with value." Avalanche's AVAX token has gained 36%, and the tokens tied to Uniswap and Polygon have gained 23% and 25%, respectively.

Persons: Memecoins, Donald Trump, Alkesh Shah, Shah, Avalanche's, Memecoin Shiba Inu, Elon Musk, Trump, ", bitcoin, –, Ethereum, It's, it's, — CNBC's Michael Bloom Organizations: Bank of America, BTC, Microsoft Windows, Uniswap, Elon, Government, Securities and Exchange Commission, SEC, Solana Locations: AVAX, Ethereum

☆ Coinbase has worst week of the year as crypto stocks plummet
▼ + stars: | 2024-09-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

(Photo Illustration by Justin Sullivan/Getty Images) Justin Sullivan | Getty ImagesCryptocurrency exchange Coinbase just wrapped up its worst week of the year. According to CoinGlass, September is historically a difficult trading month for crypto assets, with bitcoin notching an average loss of 4.8%. The Crypto Fear & Greed Index, a gauge of crypto market sentiment, is firmly in the "Extreme Fear" zone, indicating that investors are worried about price moves. On Friday, the Bureau of Labor Statistics reported a cooldown in the labor market with August payrolls falling short of expectations. Crypto equities hit hardestWhile it was a rough week for risky assets of all sorts, investors over-indexed in crypto stocks had it particularly bad.

Persons: Justin Sullivan, Schwab, CoinGlass, Bitcoin, payrolls, Leena ElDeeb, MicroStrategy, Michael Saylor, CleanSpark, Jerome Powell, Donald Trump, Trump, Gary Gensler Organizations: Securities, Exchange, Securities and Exchange Commission, Marathon, Nasdaq, bitcoin, Labor, of Labor Statistics, SEC, JPMorgan Chase, Federal Reserve, August's, U.S, Republican Locations: CALIFORNIA, San Anselmo , California, Bitcoin, U.S, MicroStrategy, Coinbase, Nashville

☆ Bitcoin is riding a wave of optimism into a historically quiet trading month. Here's what to expect
▼ + stars: | 2024-08-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Investors have several reasons to be optimistic toward bitcoin even as it enters one of the sleepiest trading months of the year. It has finished seven of the past 11 Augusts in the red, generating an average 2.69% return for the month, according to CoinGlass, largely due to a more than 65% gain in August 2017. "It's very likely that's going to continue playing a part here" in the month ahead, Duong said. Pandl at Grayscale is upbeat on the prospect of bitcoin reaching another all-time high sometime this year, and ether retesting $4,000. "Equity markets have wobbled but, so far, bitcoin has performed well, trading more like a hedge against dollar weakness," Pandl said.

Persons: cryptocurrency, bitcoin, David Duong, Duong, Vance, Zach Pandl, Pandl, Donald Trump's, Sen, Cynthia Lummis, Alex Miller, Hiro, Bitcoin Organizations: Metrics, Trump, bitcoin, Republican, Equity Locations: U.S, Nashville, bitcoin, Coinbase, Mt

☆ Ethereum ETF approval shows that all of the altcoins will come to Wall Street: Anthony Pompliano
▼ + stars: | 2024-07-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEthereum ETF approval shows that all of the altcoins will come to Wall Street: Anthony PomplianoAnthony Pompliano, Professional Capital Management founder and CEO, joins 'Squawk Box' to discuss the approval of spot ethereum ETFs, what to make of the crypto industry's latest milestone, the road ahead of ethereum and crypto at large, and more.

Persons: Anthony Pompliano Anthony Pompliano Organizations: Professional Capital Management

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMajor altcoins sink amid broader crypto pullback: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brian Dixon of Off The Chain Capital discusses the factors behind bitcoin and other cryptocurrencies' recent pullback.

Persons: explainers, Brian Dixon Organizations: CNBC Crypto, CNBC

☆ This type of coin is 'among the riskiest of cryptocurrencies,' investing expert says—here's what to know
▼ + stars: | 2024-05-29 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +4 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display on March 5, 2024 in Paris, France. As meme stocks like GameStop temporarily surged this month, it appears meme coins are having a moment as well. But before you consider investing in cryptocurrency, it's important to understand the difference between meme coins, altcoins and bitcoin. And although every meme coin is an altcoin, every altcoin isn't necessarily a meme coin. "Meme coins are among the riskiest of cryptocurrencies because they seem to emerge from nowhere and information about them can be sparse," he says.

Persons: shiba, Pepe, Bitcoin, Satoshi Nakamoto, Nakamoto, Altcoins Altcoins, James Royal, you'll Organizations: GameStop, U.S ., CNBC, Federal Trade Commission Locations: Paris, France, cryptocurrency, stablecoins

Investing in crypto can be attractive, but where should you start? Here is a breakdown of digital currencies from Pepe to Ethereum.

Persons: Pepe, Ethereum

☆ The majority of altcoins launched since 2020 are dead, but bitcoin's latest rally could spark a revival
▼ + stars: | 2024-03-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

72% of crypto projects have died since 2020, a report from Alphaquest and Storible said. On Friday, crypto market capitalization hit a record high of $2.58 trillion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since 2020, 72% of crypto projects have died, according to a report published by Alphaquest and Storible. On Friday, the crypto market hit a new record, with capitalization reaching $2.58 trillion, Kuptsikevich wrote in a market update.

Persons: Storible, —, Alphaquest, FTX's, bitcoin, Geoff Kendrick, Alexander Kuptsikevich, Liquid Investments Seth Ginns, Kuptsikevich, Kendrick Organizations: Service, Standard, BTC, Business, CoinFund, Liquid Investments Locations: Alphaquest, altcoins

☆ Bitcoin rockets to an all-time high above $69,000, surpassing 2021 record
▼ + stars: | 2024-03-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"Bitcoin reclaiming its all-time high yet again shows it is never going away," said Alex Thorn, head of research at Galaxy Digital. Catalysts driving the surge in the cryptocurrency include the U.S. spot bitcoin ETFs that started trading earlier this year, along with the tightening bitcoin supply ahead of the late April "halving." "The odds have always been against bitcoin," Thorn said, citing naysayers who have referred to it as "a bubble" and compared it to the "tulip mania" in Holland during the 1600s. "Retail interest is oftentimes momentum driven, and all-time high levels are a pivotal momentum driver for even more investment," he told CNBC. Nevertheless, U.S. spot bitcoin ETFs have brought legitimacy to it and been hugely popular, with BlackRock's iShares Bitcoin Trust (IBIT) passing $10 billion in assets under management last week.

Persons: Jaap Arriens, FTX, crypto's Lehman, Alex Thorn, bitcoin, Clara Medalie, Thorn, naysayers, Needham, John Todaro, Crypto, BlackRock's Organizations: NurPhoto, Getty, Metrics, Galaxy, CNBC, Securities and Exchange Commission Locations: U.S, Holland

☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
▼ + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.

Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin

☆ Ether takes center stage as bitcoin heads into one of its strongest months
▼ + stars: | 2024-01-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether is ready to take the limelight in the month ahead after bitcoin and newly-launched bitcoin ETFs dominated crypto investor attention in January. Both bitcoin and ether are on pace to finish the month higher by nearly 2%, according to Coin Metrics. As investors came to expect slow, steady flows into bitcoin through newly institutionalized ETFs in coming months, ether and altcoins have been ready for a breakout. February is a historically strong month for both bitcoin and ether. The SEC is due to give decisions on spot ETH ETF applications beginning in May.

Persons: Darius Tabatabai, Bitcoin, Jeff Dorman, Ethereum, Dorman, Jason Urban, bitcoin, they've, Polygon's, — CNBC's Michael Bloom Organizations: Metrics, ETH, Securities and Exchange Commission, SEC, BlackRock, Standard Chartered, Solana, Arca, Galaxy Locations: U.S, bitcoin, Invesco, Solana

☆ Bitcoin finishes November strong as investors enter a waiting period in the final month of 2023
▼ + stars: | 2023-12-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

November was perhaps the most significant month of this year for the crypto industry and gave bitcoin a strong setup as investors look toward 2024. "It's safe to say that the market is grinding higher in anticipation of a spot bitcoin ETF approval in January," said Ryan Rasmussen, research analyst at Bitwise Asset Management. "Some investors will continue trying to front-run the potential spot bitcoin ETF approval, but December is essentially a 'wait and see' period for bitcoin," he said. November is a historically strong month for bitcoin. "It tells us that investors are interested in more than just the potential for a spot bitcoin ETF.

Persons: Bitcoin, FTX's, Sam Bankman, Fried, Ryan Rasmussen, There's, CoinGlass, Rasmussen Organizations: Metrics, Investors, Binance, U.S . Department of Justice, Bitwise Asset Management, U.S . Securities, Exchange Commission, Wolfe Research Locations: altcoins

☆ Solana surges amid altcoin rally, nearly triples its price over the past month
▼ + stars: | 2023-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The price of the Solana token jumped Wednesday amid an ongoing rally in altcoins and bullish remarks on the token from famed tech investor Cathie Wood. It has nearly tripled in price in the past month. "Ether was faster and cheaper than bitcoin [back] in the day – that's how we got ether. Activity on Solana has been growing all year, particularly in liquid staking protocols like Jito, according to data provider Kaiko. Solana is up about 510% this year and has been one of the best performing cryptocurrencies of 2023.

Persons: Cathie Wood, Solana, CNBC's, Wood, altcoins, outpacing, Polygon's, XRP, bitcoin, Mikołaj Zakrzowski, blowup, Sam Bankman, Fried Organizations: Ark, CNBC, CNBC PRO, Solana Locations: altcoins, Solana

☆ Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on
▼ + stars: | 2023-11-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception.

Persons: Altcoins, bitcoin, Polygon's, Bitcoin, Rob Ginsberg, Ginsberg, altcoins, – it's, It's, Ryan Rasmussen, Mike Novogratz, JPMorgan's Nikolaos Panigirtzoglou, haven't, Panigirtzoglou, — CNBC's Michael Bloom Organizations: Solana, ADA, ETH, Wolfe Research, Treasury, Bitwise Asset Management, Galaxy Digital, JPMorgan Locations: Canada, Europe

☆ Ether tops $2,000 for the first time since April, bitcoin climbs to an 18-month high
▼ + stars: | 2023-11-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A similar notice for the iShares Bitcoin Trust came on June 8, one week before BlackRock's filing for a bitcoin ETF. The price of ether jumped Thursday, topping the key $2,000 level for the first time since April, after BlackRock took initial steps toward filing for a spot ether ETF. Other crypto assets as well as crypto equities rode the bitcoin price wave Thursday. Meanwhile, shares of bitcoin miners rode the bitcoin wave too. Don't miss these stories from CNBC PRO:Correction: The price of bitcoin topped $37,000 for the first time since May 2022.

Persons: Clara Medalie, Ether, bitcoin, Solana, Darius Tabatabai, Gary Gensler, Microstrategy, CleanSpark, —, Jesse Pound Organizations: Delaware's Division, Corporations, BlackRock, Metrics, Cardano, SEC, CNBC, Marathon, Iris Energy Locations: Coinbase

☆ High rates are historically bad for bitcoin. Here’s what’s in store for crypto with the 10-year near 5%
▼ + stars: | 2023-10-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

High interest rates have not been bitcoin's friend in the past, and the benchmark 10-year U.S. Treasury yield recently reaching new generational highs comes at an especially inconvenient time for the cryptocurrency. "We continue to see high yields as a negative for bitcoin and in particular crypto more broadly," said Needham analyst John Todaro. The central bank chief also left the door open for higher interest rates , saying he doesn't think levels are currently too high. In the past, high yields have put pressure on crypto, giving investors fewer reasons to bet on high-risk assets such as bitcoin in the face of high yield, low risk assets like government bonds. Callie Cox, an analyst at the investment company eToro, said bitcoin could actually continue to do well — partly as a result of high interest rates.

Persons: it's, Needham, John Todaro, Jerome Powell, Rob Ginsberg, Ginsberg, Callie Cox, bitcoin, What's, Crypto, Cox Organizations: Treasury, Wolfe Research

☆ Bitcoin briefly dips under $25,000 ahead of fresh inflation data this week
▼ + stars: | 2023-09-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The cryptocurrency market fell to start the week as traders turned their focus to new inflation data and digested the latest in the SEC's legal battle with Ripple. Bitcoin fell more than 2.8% to trade at $25,004.45, according to Coin Metrics. Bitcoin briefly dipped below $25,000, the first time below that key support level since June. XRP dropped 5%, according to Coin Metrics, along with the Polygon token. Polkadot 's coin lost 4%, while Binance Coin , Solana's sol token and litecoin were down by about 3% each.

Persons: Bitcoin, Altcoins, XRP, Darius Tabatabai Organizations: Metrics, Securities and Exchange Commission, Vertex

☆ 22-year-old who lost $80,000 in crypto: 'I was investing with money I didn't necessarily have'
▼ + stars: | 2023-09-07 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Between November 2021 and June 2022, Nguonly says he lost about $80,000 by investing in crypto on margin. But as bitcoin's price went on a tear, he decided to buy more — about $15,000 worth — on margin. But at the end of 2021 the crypto market took a turn, and by the summer of 2022 bitcoin's price crashed over 70%. "I was investing with some money that I didn't necessarily have," Nguonly tells CNBC Make It. It's also important to avoid investing techniques you don't understand, such as options trading or investing on margin.

Persons: Ethan Nguonly, Nguonly, shiba inu, bitcoin, It's Organizations: CNBC, Securities and Exchange Commission, Federal Reserve, Financial Industry Locations: bitcoin, cryptocurrency

☆ Altcoin trading volume is off its first-half highs. Here's what it will take to get it back
▼ + stars: | 2023-09-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Altcoin trading is limping along, despite initially getting a boost from a key July court ruling that gave Ripple a partial victory over the Securities and Exchange Commission. However, this is not a strong enough narrative to take over the broader theme of deterioration in crypto market structure, said Park added. "This has serious implications for altcoin trading, as the shift in focus to alternatives like FDUSD or TUSD has created a bottleneck for pairs trading that is often how altcoin liquidity is gauged and accessed," he added. "At its peak, there were over 300 BUSD trading pairs and the number is steadily decreasing as BUSD is ceasing its operations." Wolfe Research's Rob Ginsberg noted this week that weak price action and low trading volume largely define the trading of altcoins in the current market.

Persons: —, Jeff Park, Glassnode, altcoins, Binance Launchpad, Stablecoins, CryptoQuant, Changpeng Zhao, Wolfe, Rob Ginsberg, Seasonality, Crypto, Dessislava Aubert, Michael Bloom Organizations: Securities and Exchange Commission, Bitwise Asset Management, SEC, Polygon, CNBC, Binance, BTC Locations: Solana, New York, BUSD's, altcoins, China

☆ 'Altcoins' central to Hong Kong crypto firm Hashkey’s first liquid fund
▼ + stars: | 2023-08-31 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

The fund, run by the investment arm of Hong Kong crypto giant Hashkey Group, launches on Friday. Less than 50% of its investments will be in Bitcoin and Ethereum , the two biggest crypto currencies. The asset manager will leverage its crypto venture investment experience to diversify allocations to smaller rivals collectively known as "altcoins", Zheng said. Hashkey Capital, which manages over $1 billion in assets, earlier said it aimed to raise $100 million for the fund over 12 months. Zheng said Hashkey Capital is also developing distribution channels with some offshore Chinese financial institutions, adding that weakness in the Hong Kong stock market has also pushed investors to look for diversified strategies.

Persons: Dado Ruvic, HONG KONG, Bitcoin, Jupiter Zheng, Zheng, Summer Zhen, John Stonestreet Organizations: REUTERS, Hashkey Capital, Reuters, Hashkey, Hong, Thomson Locations: HONG, Hong Kong, Bitcoin

☆ Crypto crackdown 'absolutely' influenced Bitstamp to stop U.S. ether staking: Bobby Zagotta
▼ + stars: | 2023-08-30 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto crackdown 'absolutely' influenced Bitstamp to stop U.S. ether staking: Bobby ZagottaIn a wide-ranging interview with CNBC Crypto World, Bobby Zagotta, U.S. CEO and Chief Commercial Officer at Bitstamp, explains what prompted the platform to halt ether staking in the United States as well as why the crypto exchange decided to suspend trading of major altcoins for U.S. users.

Persons: Bobby Zagotta Organizations: CNBC Locations: United States

☆ Altcoins slide to begin the week while bitcoin and ether stabilize
▼ + stars: | 2023-08-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

The crypto market was lower to start the week after bitcoin posted its worst week since May. Bitcoin was higher by just 0.02% at the $26,136.36, according to Coin Metrics. Last week, it lost 11% due to a sharp decline that began Wednesday afternoon. Ether was lower by 0.18% at $1,674Altcoins were making bigger moves to the downside on Monday, however. The Cosmos token lost more than 3% and Uniswap's coin was 2% lower.

Persons: bitcoin, Bitcoin, Ripple's XRP, Cardano, Chris Martin Organizations: Metrics, Solana, Polygon, Cosmos Locations: China, Asia, Hong Kong, Singapore

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin holds steady around $26,000 as altcoins face continued selling pressure: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Robert Le of PitchBook breaks down the research firm's second-quarter crypto report as well as emerging opportunities in the space.

Persons: explainers, Robert Le of Organizations: CNBC Crypto, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitstamp to wind down trading of some altcoins for U.S. customers: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jonathan Levin of Chainalysis explains the firm's work with global law enforcement in tracking down crypto crime.

Persons: explainers, Jonathan Levin, Chainalysis Organizations: CNBC Crypto, CNBC

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