On The Market Report this week, 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 in the markets:
Bitcoin (BTC), the largest cryptocurrency, like the rest of the crypto industry, remains highly sensitive to downside risk as it continues to deal with the impact of the FTX exchange implosion.
Contagion is the word on everyone’s lips as November approaches – just like the Terra collapse earlier this year – and there are fears that new victims of FTX’s giant liquidity maelstrom will continue to surface. Greyscale Bitcoin Trust (GBTC) seems to be on everyone’s radar this week for all the wrong reasons. Will this be another black swan event? We break down all the details of the T&C so you’re always up to date.
The total market capitalization of cryptocurrencies has fallen below $800 billion, but the data highlights several reasons why some traders are bullish. Our own Marcel Pechman breaks down 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.
Proof-of-stake blockchain platform Cardano has teamed up with Coti, a graph-based acyclic layer 1 protocol, to launch what it describes as a re-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form of cryptocurrency held in reserve. Do we need another stablecoin? How will this differ from 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 provides users with up-to-date financial insights on exchanges.
The proof of reserves (PoR) the tracker checks active cryptocurrency exchanges in a given industry for liquidity transparency at any given moment. According to the announcement, the tracker details the company’s total assets and the addresses of its associated public wallets, along with the balances, current price and values of the wallets. Our experts discuss the need for such a tool and how it is helping the industry.
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