•Bitcoin: $8,507 -19.80%
•Ethereum: $168 -29.56%
•S&P 500: $2,966 -1.37%
•Dow Jones: $26,801 -1.10%
| Bakkt Has Launched – Everything Bitcoin Traders Need To Know |
It’s not the explosive start that many expected... as Bakkt, the physically-settled Bitcoin futures launched Sunday to not exactly explosive fanfare. In fact, the reception has been downright underwhelming, with only 71 contracts traded in 24 hours for the monthly contract, and even less volume for the flagship daily contract.
Any bump in the spot price? Not yet at least, with Bitcoin’s price actually falling 2.52% since the contracts launched. And the contracts themselves are trading at sub $10,000.
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| The Hash Rate is at a Record High, But a Flash Crash Just Dipped it 40% |
Bitcoin is more secure than ever... but an unexplained flash crash just took the hash rate down 40% with no explanation in sight. But that’s only off a peak of 102 quintillion hashes per second – a historic record that indicates how confident miners are in the cryptocurrency.
Why does the hash rate matter? The hash rate, put simply, refers to quantity of computations done by the Bitcoin network. This means that the higher the hash, the more computing power allocated to Bitcoin, and the more secure it is.
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