Coinbase Pro, the professional trading arm of the Coinbase cryptocurrency exchange, has begun accepting inbound transfers for Dogecoin (DOGE), setting the stage for wider adoption of the meme-based digital asset. Trading of DOGE will go live on Coinbase Pro on Thursday at 4:00 pm UTC, provided that liquidity conditions are met, the exchange announced Tuesday afternoon. Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma …

The transaction fees of Bitcoin and Ethereum have slumped to six-month lows as the markets cool after the recent crypto downturn. According to BitInfoCharts, the average price of performing a transaction using Bitcoin has fallen from an early-April all-time high of $62.77 to around $7.20 — an 88% drop over just six weeks. The falling Bitcoin transaction fees appear to have been driven by a decline in overall market activity, with daily volumes evaporating from more than $67 billion on May 10 to $30 billion as of this writing, according to CoinGecko. The meteoric 2021 crypto bull run has seen …

Wes Levitt, the head of strategy at Theta Labs: “Musk’s tweets and the resulting effects certainly may have hurt crypto in the eyes of some institutional investors. While a good deal of investors already consider Musk a bit of a clown and aren’t making investment decisions based on his opinions, it raises concerns about the maturity of crypto markets that an errant tweet can erase hundreds of billions of dollars in market cap in just a few days. The whole Dogecoin affair, in general, is not helping crypto’s image either. Many thought that 2021 was the year that cryptocurrencies would …

Castle Island Ventures’ Nic Carter doesn’t think Elon Musk is the right person to lead the “clean Bitcoin“ debate, “possibly not as far as the Bitcoin community is concerned.” He told Bloomberg, “Bitcoiners are still intensely skeptical of Musk, and they view him as conflicted, given that his business partially involves the sale of offsets.” However, asking for Bitcoin miners to be more transparent about their energy mix is a good proposal no matter who it’s coming from, Carter stressed, alluding to the recently formed Bitcoin Mining Council. Bitcoin (BTC) is a decentralized synthetic commodity that is very resistant to …

The current cryptocurrency market scenario is only for traders who have an extremely high appetite for risks. But for the faint of heart, analysts advise patience and caution ahead. The outlook stands tall for Bitcoin (BTC) and Ether (ETH), the top cryptocurrencies by market capitalization that more or less behave as locomotives for the rest of the crypto market. As of Wednesday, the ETH/USD Realized Volatility on a 30-day timeframe has reached near its 2017 peak levels, according to data provided by Skew. Meanwhile, Bybt.com shows Bitcoin’s 30-day volatility at its yearly high, suggesting that the benchmark asset remains at …

Tesla CEO Elon Musk reminded Twitter followers on Tuesday that despite the recent interest he’s taken in Dogecoin (DOGE), he still has no formal authority over the project. Musk was replying to a comment from a Doge-themed account, which opined that he had taken to operating Dogecoin like one of his own companies and that he’d effectively become the project’s CEO. The comment framed Musk’s influence as something to be celebrated, but the self-proclaimed “Dogefather” issued a reminder that he actually isn’t the boss and that no one really answers to him. Please note Dogecoin has no formal organization & …

MicroStrategy CEO, Michael Saylor has explained the details and thinking behind the formation of the Bitcoin Mining Council. The council was formed on May 25 after Saylor brokered a successful meeting between Elon Musk and several top North American Bitcoin mining firms. The miners involved will provide current and planned renewable usage transparency, and will lobby other mining operations across the globe to do so as well Michael Saylor describing the formation of the Bitcoin Mining Council and @ElonMusk's shared interest in seeing #Bitcoin succeed: pic.twitter.com/7MfODadi8p — Documenting Bitcoin (@DocumentingBTC) May 25, 2021 Speaking at the virtual Consensus 2021 conference, …

Powers On... is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain, Crypto and Regulatory Considerations.” These past few weeks have been tumultuous, especially for newbies to the crypto market. First, on May 8, Elon Musk, CEO of Tesla, was the host of Saturday Night Live where he promoted Dogecoin (DOGE) — a highly speculative, volatile cryptocurrency with present …

Elon Musk captured the world’s attention when he declared that Tesla would no longer accept Bitcoin as a payment method, citing the blockchain’s environmental impact. Although this thrust the debate about cryptocurrencies and the climate into the spotlight, this has been an issue that has been rumbling on for many years. Bitcoin’s proof-of-work consensus mechanism is exceedingly energy intensive, and it seems to be a problem that’s only getting worse — with vast data centers established as miners vie to get their hands on a supply of new coins that has dwindled further since the 2020 halving. The latest figures …

North America’s Bitcoin (BTC) mining industry appears to be moving towards greater environmental sustainability after MicroStrategy CEO Michael Saylor brokered a successful meeting between Elon Musk and several prominent business leaders. Saylor and Musk both revealed Monday that the Bitcoin Mining Council has been established following the high-level talks. The council is made up of several industry leaders, including Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital and Riot Blockchain. They’ve all agreed to “promote energy usage transparency [and] accelerate sustainability initiatives worldwide,” Saylor tweeted Monday. Yesterday I was pleased to host a meeting between @elonmusk …

The crypto market bloodbath that is currently engulfing the entire industry will likely go down in history as one of the key points to remember regardless of whether the prices recover or continue going downward. To recap, the crypto market plummeted after a week of bad news as both Tesla CEO Elon Musk and the Chinese government threw spanners into the works of crypto miners, sending Bitcoin (BTC) all the way down to $30,000. This marked the largest-ever monthly decline in the value of BTC in monetary terms as it more than halved in value in comparison to the all-time …

The high-profile coin purchases by corporate entities like MicroStrategy and Tesla were credited in part with pushing up the price of Bitcoin (BTC) throughout the end of 2020 and the beginning of 2021. Allotting billions of dollars worth of Bitcoin to their balance sheets had a knock-on effect on the stock prices of Tesla and MicroStrategy, both of which were subject to 340% and 808% pumps, respectively, from the moment their CEOs began stacking sats and posting crypto memes. But the glow afforded Tesla and MicroStrategy by their headline-grabbing Bitcoin purchases proved to be short-lived. After the share prices of …