Solana outage fixed as wider cryptocurrency market recovers
ONLY 14 DAYS TO GO…
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Crypto at a glance
Bitcoin continues its recovery after last week’s crash, currently sitting at more than $47,000 for the first time in five days. The leading cryptocurrency is up about two per cent over the past 24 hours, having fallen to lows of $43k just last Tuesday.
The global crypto market is now back above $2.1 trillion, with cryptocurrencies including Ethereum (ETH), Dogecoin (DOGE) and Binance Coin (BNB) all showing signs of recovery in the last 24 hours. Ethereum is currently changing hands for more than $3,400, up two per cent since yesterday morning.
The big losers today are Cardano (ADA), which is down two per cent to $2.39, and Solana (SOL), which is down four per cent over the last 24 hours after a volatile day sparked by a major outage. Solana, which has seen a meteoric rise over the last month, was offline and not producing blocks for nearly 20 hours yesterday, sparking a 13 per cent crash in the value of the blockchain network’s native cryptocurrency to around $145 per coin – the lowest price in more than a week.
It came back online early Wednesday following a marathon session of fits and starts by engineers racing to restore service. The price has since recovered to more than $160, but will there be any lasting damage to its reputation?
The Crypto AM London Blockchain & DeFi Summit and Crypto AM Awards 2021
Day One will be held at ETC Fenchurch Street hosting the four Crypto AM Canada Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.
Day Two will be summit day (streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.
For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email: [email protected] using the subject line ‘CRYPTOAM SUMMIT’.
Summit & Awards Announcements
Crypto AM Awards 2021 Judges Announced
Crypto AM is delighted to announce Luno as Gold Partner
Crypto AM is delighted to announce Cudos as Gold Partner
Crypto AM is delighted to announce MELD as Gold Partner
Crypto AM is delighted to announce Umbria Network as Silver Partner
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,125,997,280,095.
What Bitcoin did yesterday
We closed yesterday, September 14 2021, at a price of $47,092.497, up from $44,963.07 the day before. The daily high yesterday was $46,598.68 and the daily low was $44,752.33.
This time last year, the price of Bitcoin closed the day at $10,796.95. In 2019, it closed at $10,347.71.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $883.91 billion. To put it into context, the market cap of gold is $11.457 trillion and Facebook is $1.061 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $34,010,724,920, down from $42,619,516,730 the day before. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 46.28%.
Fear and Greed Index
Market sentiment today is 49.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.31, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 50.07. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“If the regulator finally allowed financial services companies to call it an asset, put it into an ETF [exchange-traded fund] in the United States, like they have in Canada and other countries, I’d figure there’d be another trillion dollars worth of buying into bitcoin. And we don’t have that yet, but that’s the opportunity.”
Shark tank star Kevin O’Leary
What they said yesterday
Leader of the People’s Party…
The number speaks for itself…
Satoshi Nakamoto Senior?
Fuelling the of the future of finance…
Crypto AM: Editor’s pick
Cardano Alonzo upgrade sees 100 smart contracts in first 24 hours
Morgan Stanley to launch new research team led by Sheena Shah
Bitcoin can now be purchased using the Post Office app
Simon Nixon tells Seek Ventures to ramp up Bitcoin investment
Bitcoin breaks $50,000 as magic monday gives cryptocurrencies a green start to the week
Gibraltar to host first international post pandemic crypto event
CV Labs Partnership launches British crypto firm Evai onto Bittrex global exchange
Crypto AM: Features
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Day one…
Day two…
Day three…
Day four…
Day five…
Crypto AM: Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube:
Part one…
Part two…
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. CityAM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:00 BST