Cryptocurrency Price LIVE: Bitcoin Crashes As Profits Wipe Out – Musk’s Dogecoin Drops As Well | City & Business | Finances
Alexandra Clark, sales trader at UK digital asset broker GlobalBlock, wrote: “Cynthia Lummis has encouraged people to buy and hold bitcoins in their portfolios in a way that the US dollar is not devalued in value.
“In addition to promoting Bitcoin as a store of value, the Senator also defended Bitcoin’s environmental record and invited miners to the state of Wyoming.
For the first time in weeks, Bitcoin rose over the weekend, marking the biggest downward revision of the Bitcoin mining difficulty ever and an increase in daily accumulation by whales.
“Bitcoin mining difficulty dropped a staggering 28 percent this week and whales caused the largest daily increase in accumulation in 2021 with 60,000 BTC purchased in one day.
He added, “Grayscale has realigned its portfolio so that Cardano (ADA) is now the company’s third largest holding.
“As it stands, Bitcoin (BTC) make up 67.47% of the fund, Ethereum (ETH) 25.39%, Cardano (ADA) 4.26%, Bitcoin Cash (BCH) 1.03%, Litecoin (LTC ) 0.99% and Chainlink (LINK) 0.86% The company also announced that it is investigating Solana, Polygon and a range of DeFi tokens for single asset trust funds.
Algorand also offers exciting opportunities. Since its inception in 2019, it has secured hundreds of millions in funding for its development and has numerous third parties operating on its ecosystem.
“While it doesn’t pose a threat to Ethereum or Cardano yet with its smart contract capabilities, solid transaction speeds, and focus on being a bridge between centralized and decentralized systems, it certainly looks promising.