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<ul class="summary-list"><li><keyword id="12150390" type="UNKNOWN" weightage="60" keywordseo="avalanche" source="Orion">Avalanche</keyword>, <keyword id="12159267" type="UNKNOWN" weightage="60" keywordseo="cosmos" source="Orion">cosmos</keyword>, <keyword id="11895429" type="UNKNOWN" weightage="60" keywordseo="dot" source="Orion">dot</keyword> and sol rose sharply, recovering from this week's meltdown.</li><li>Risk appetite picked up after Evergrande made interest payments on some of its bonds, allaying some investor concerns.</li><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> is not tightly correlated with other risk assets in the long term, Marcus Sotiriou from GlobalBlock said.</li></ul>The smaller cryptocurrencies rallied sharply on Thursday, enjoying a swell of risk appetite after some of the concerns around the debt crunch at Chinese property company Evergrande that had rattled <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> earlier this week subsided.While the likes of cardano's ada, <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword>'s sol and even ether have posted major gains in recent weeks, it was the smaller coins such as the native tokens of the avalanche, cosmos and <keyword id="12003314" type="UNKNOWN" weightage="60" keywordseo="polkadot" source="Orion">polkadot</keyword> networks that led the charge higher on Thursday.Cosmos, a decentralized, peer-to-peer network that enables data exchanges between blockchains, was the front runner, as its atom token gained 23% over 24 hours to stand at $40.38 at 06:13 a.m. ET, according to coinmarketcap.com. Avalanche's avax token rose 20% in a day to $76.39, while layer-zero protocol polkadot's dot went up 9% to $31.26. So-called "ethereum killer" solana's sol rose 12% to $148.02. Worries cooled about Evergrande on Thursday after the firm <a href="https://www.reuters.com/world/china/china-evergrande-inches-close-default-deadline-investors-wait-2021-09-21/">agreed</a> to settle interest payments on a domestic bond the previous day and the Chinese central bank injected extra liquidity in the financial system. The company owes more than $300 billion to bondholders and banks all over the world and an announcement earlier this week that it might not make a key coupon payment hit risk assets such as stocks and cryptocurrencies hard. "Crypto is a risk-off asset, so will fall with stocks in the short term, but they are not correlated over the long term," Marcus Sotiriou, sales trader at UK based digital asset broker <a href="https://www.globalblock.co.uk/">GlobalBlock</a>. Altcoins have been on a tear so this year, with sol up almost 10,000%, meme-token dogecoin up 4,000% and avalanche's avax up 2,300%, prompting many to question whether some of these lesser-known tokens linked with smaller networks are in a bubble."Many coins with strong fundamentals that are solving real life problems are experiencing rapid network adoption. I think these cryptocurrencies are very undervalued given the power of network effects and size of the market they are going after," Sotiriou said. "When comparing the same (total value locked) TVL amounts of these networks against ethereum [it] indicates that they are likely undervalued," Eliézer Ndinga, research lead at 21 Shares, a crypto exchange traded products provider, said.Total Value Locked is the dollar amount invested in decentralized financial applications built on blockchains, Ndinga said. This metric measures the overall health of an application in real-time and is one way to determine the value of one network versus another.

Altcoins surge as Evergrande crisis cools off, with avalanche, cosmos and polkadot leading the charge

<ul class="summary-list"><li>Sam-Bankman Fried's exchange <keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword> plans to list <keyword id="5294933" type="UNKNOWN" weightage="60" keywordseo="cardano" source="Orion">cardano</keyword>, <keyword id="12003314" type="UNKNOWN" weightage="60" keywordseo="polkadot" source="Orion">polkadot</keyword> and avalanche spot trading.</li><li>FTX currently focuses on futures products, but is looking to add more direct trading capabilities.</li><li>The exchange is trying to lure in more retail traders and has been on a sponshorship spree.</li></ul><keyword id="11930691" type="UNKNOWN" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword>'s <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange FTX is planning to list spot trading in cardano, polkadot and avalanche in the coming months, as the platform makes a concerted push to draw in more retail investors."There's a lot of blockchains we want to list that are fairly significant," the 29-year old crypto billionaire told Insider last week."Polkadot is probably right towards the top of that list. I think avalanche, I think probably cardano is on that list. I think those are all blockchains that we want."Bankman-Fried said FTX, the <a href="https://coinmarketcap.com/rankings/exchanges/">fourth biggest</a> exchange by daily trading volume, hopes to have more spot listings in the next month or two and that the focus is adding the tokens to the international exchange.The plan to let users directly buy and sell more tokens comes at a time of surging interest in so-called altcoins.Read more: <a href="https://www.businessinsider.com/crypto-trading-tips-using-stocks-tesla-apple-sam-bankman-fried-2021-6">A 29-year-old crypto billionaire shares how investors can use Tesla or Apple stock as collateral to buy bitcoin or ether</a>Cardano is a blockchain created in 2017 by ethereum cofounder Charles Hoskinson. Its cryptocurrency broke <a href="https://markets.businessinsider.com/news/currencies/cardano-ada-price-crypto-alonzo-network-upgrades-smart-contracts-2021-9">past the $3 mark</a> for the first time on Thursday and is now the third biggest by market capitalization, behind <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>.Polkadot was also launched by ethereum cofounder Gavin Wood, in 2020. Avalanche is a <a href="https://markets.businessinsider.com/news/currencies/defi-crypto-800-billion-industry-billionaire-decentralized-finance-vesper-2021-08">decentralized finance</a> blockchain and token also created last year.FTX currently lists futures - products that allow investors to bet on the future price without actually owning the asset - in polkadot, cardano and avalanche's cryptocurrencies. Futures trading currently makes up around 80% of FTX's offering, compared to roughly 20% in spot trading.The exchange is making an effort to lure in more retail traders, having become known for attracting institutional investors. FTX now sponsors Major League Baseball umpires and bought the naming rights to the Miami Heat basketball team's home stadium. It has also <a href="https://markets.businessinsider.com/news/currencies/tom-brady-gisele-bundchen-ftx-equity-investment-crypto-bankman-fried-2021-6">partnered with</a> football legend Tom Brady and supermodel Gisele Bündchen."We are trying to build out the consumer base, especially in the US," Bankman-Fried told Insider. "A lot of what we're thinking is, what are things that we could do that could plausibly reach tens of millions of potential users?"US consumers are currently barred from using FTX's international exchange, although <a href="https://inca.digital/intelligence/geotagging-crypto-traders/">a report</a> released in July by data firm Inca Digital said many Americans are bypassing such restrictions.FTX's US arm, called <keyword id="11930690" type="UNKNOWN" weightage="60" keywordseo="ftx-us" source="Orion">FTX.US</keyword>, <a href="https://markets.businessinsider.com/news/currencies/ftx-us-buys-ledgerx-crypto-derivatives-exchange-sam-bankman-fried-2021-08">this week bought</a> crypto derivatives platform LedgerX as it looks to bring futures trading to its American customers.Bankman-Fried also said that FTX is currently in the process of activating a broker-dealer license in the United States, which could allow the exchange to list securities like stocks.

Sam Bankman-Fried's crypto exchange FTX plans to list cardano and polkadot spot trading as it tries to attract retail investors

<ul class="summary-list"><li><keyword id="11896271" type="UNKNOWN" weightage="60" keywordseo="ether" source="Orion">Ether</keyword> rose by almost 7% to above $3,560 on Wednesday, its highest since mid May.</li><li>Petr Kozyakov, CEO of Mercuryo attributed the rise to "DeFi and NFT mania."</li><li>Other altcoins including <keyword id="11895429" type="UNKNOWN" weightage="60" keywordseo="dot" source="Orion">dot</keyword> and <keyword id="11927960" type="UNKNOWN" weightage="60" keywordseo="ada" source="Orion">ada</keyword> have soared in recent weeks as investors have diversified out of bitcoin.</li></ul> Ether hit its highest since mid-May on Wednesday, swept higher by a wave of investors chasing gains in popular alternatives to bitcoin that have rallied sharply in recent weeks.Ethereum's ether token rose by as much as 7% at one point to a high above $3,560. It was last up around 3% at $3,530.Although bitcoin is still the most actively traded cryptocurrency, many of its smaller rivals, such as ether, the <keyword id="5294933" type="UNKNOWN" weightage="60" keywordseo="cardano" source="Orion">cardano</keyword> network's ada or <keyword id="12003314" type="UNKNOWN" weightage="60" keywordseo="polkadot" source="Orion">polkadot</keyword>'s dot are gaining in market size. These smaller blockchains offer a wider range of applications than bitcoin's, including decentralized finance protocols and NFTs among others.NFTs are digital tokens that are tied to real world assets such as pieces of artwork, videos and more.The largest NFT platform, OpenSea, recorded the highest monthly activity of all time in August, with over $3 million worth in volume, according to data from analytics firm Dune. This is 10 times more than the previous month as more celebrities, sports players and <a href="https://markets.businessinsider.com/news/currencies/luxury-fashion-houses-louis-vuitton-and-burberry-dive-into-nft-gaming-2021-8">luxury</a> brands released their own NFTs.Decentralized finance, or DeFi, is one of the applications of blockchain technology that has made the likes of the ethereum network so popular lately. DeFi allows two parties to transact without any kind of centralized intermediary, like a broker, or commercial bank, for example."The attractive factor driving behind the growth of ethereum is the DeFi and NFT mania currently making the buzz in the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> ecosystem. With most NFTs being minted on the ethereum blockchain, the demand for ether is higher, and the uplift in price is further complemented with the high token burn rate ushered in by the last London hard fork network upgrade," Petr Kozyakov, co-founder and CEO of the global payment network Mercuryo said. Ether is the second largest coin by market capitalization after bitcoin, according to <a href="https://coinmarketcap.com/">coinmarketcap</a>."Ether could go beyond the $4,000 price mark as it has done so before when it hit an all-time high record of $4,362.35," Kozyakov said. The rally in ether has helped push up the values of smaller altcoins, he said.Dot rose 8.7% on the day to $30.21, having touched an all-time high of $32.10 earlier on, based on Coinbase data. Other altcoins like Chainlink's link rose by 6.21% to $27.58, Ripple's XRP gained 7.43% to $1.20 and Uniswap's uni token rose 8.29% to $30.48 in 24 hours, according to coinmarketcap. "The cryptoverse continues to grow and while bitcoin dominance is fading as other coins dominate the embracement of blockchain technology, long-term investors should be upbeat for the entire space," Edward Moya, a senior market analyst at broker OANDA, said in a note on Tuesday.<keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">Solana</keyword>'s sol token, which has gained almost 250% in the last month, was last up 10% on Coinbase at $119.46, while cardano's ada, now the <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-cardano-all-time-high-3-month-high-50000-2021-8">third biggest coin by market value</a>, was up 2% on Coinbase at $2.829."Sol and ada have the inherent potential for massive price gains in the coming months," Kozyakov said. "(Their) potential claims to be ethereum killers will soon be tested out with (cardano's) Alonzo upgrade that will allow smart contracts to build on the network."

Ether tops $3,550 for the first time since May, while dot hits a record high, as DeFi and NFT mania boost altcoins

<ul class="summary-list"><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> edged lower Friday to its worst weekly performance in more than a month, nearing $30,000. </li><li>Other major cryptocurrencies are also trading lower.</li><li>A myriad of headwinds have battered <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword>, from Fed Chair Powell's comments on regulation to Binance's ongoing scrutiny.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> slipped Friday to clock its worst weekly performance in more than a month as the world's largest cryptocurrency by market cap inches closer to a key support level of $30,000. Bitcoin on Friday morning was trading at $31,363 as of 8:30 a.m. ET, according to data from CoinMarketCap. An eventual break below this level will be crucial, Julius de Kempenaer, senior technical analyst at StockCharts.com, <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-today-inflation-hedge-consumer-price-index-cpi-btc-2021-7">told Insider</a>. "If and when this happens, $20,000 is on the cards as the next level of support to watch," said. The selling pressures began on Thursday when the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">digital asset</a> suffered its biggest drop in about 10 days. Bitcoin in the past month has been trading in a range at just around half its <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-record-high-coinbase-direct-listing-btc-crypto-2021-4-1030302632?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest" target="_blank">April peak price of nearly $65,000</a>. Alongside bitcoin, other <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a> have slid in the last 24 hours: <ul><li><a href="https://markets.businessinsider.com/currencies/eth-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">Ether</a>: down 1.72% to $1,869.57</li><li><a href="https://markets.businessinsider.com/currencies/ada-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">Cardano</a>: down 3.19% to $1.18</li><li><a href="https://markets.businessinsider.com/currencies/xrp-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">Ripple</a>: down 1.28% to $$0.5923</li><li><a href="https://markets.businessinsider.com/currencies/doge-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">Dogecoin</a>: down 5.43% to $0.1796</li><li><a href="https://markets.businessinsider.com/stocks/gpdb-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">Polkadot</a>: down 5.06% to $12.38</li><li><a href="https://markets.businessinsider.com/currencies/usd-pen">Solana</a>: down 4.05% to $27.76</li></ul>Cryptocurrencies have struggled to rebound from a <a href="https://markets.businessinsider.com/currencies/news/crypto-market-value-47-percent-lost-7-days-2021-5">massive crash</a> in May when the value of the total market dropped by nearly half in just seven days. A number of headwinds have been blowing against the crypto market since the brutal sell-off. Federal Reserve Chair Jerome Powell on Thursday told the Senate Banking Committee that cryptocurrencies have <a href="https://markets.businessinsider.com/currencies/news/fed-crypto-jerome-powell-senate-testimony-stablecoins-2021-07">failed</a> to become a viable payment method. A day earlier, he also said the <a href="https://markets.businessinsider.com/currencies/news/jerome-powell-cryptocurrencies-cbdc-stablecoins-digital-currency-testimony-2021-7">US won't need stablecoins and cryptocurrencies</a> if the central bank were to issue its own digital currency. There have also been problems plaguing the the world's largest cryptocurrency exchange, Binance, which is weathering an intensifying regulatory crackdown. Hong Kong, most recently, joined the growing list of governments to issue a warning against the exchange, saying it is not authorized to do business in the country. Bitcoin is also under increasing fire for its impact on the environment from critics who points to <a href="https://www.businessinsider.com/elon-musk-dogecoin-developers-environmentally-friendly-2021-5?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank">the heavy energy consumption of bitcoin mining.</a> <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/twitter-built-on-blockchain-will-let-users-monetise-their-posts-and-come-up-with-their-own-rules/articleshow/84548663.cms">Twitter alternative built on Ethereum will let users monetise their posts and come up with their own rules</a> <a href="https://www.businessinsider.in/cryptocurrency/news/ethereums-co-founder-quits-crypto-with-a-big-warning/articleshow/84547141.cms">Ethereum’s co-founder wants to be more than just ‘the crypto guy’ as he exits the industry</a> <a href="https://www.businessinsider.in/cryptocurrency/news/dogecoin-jumps-10-after-elon-musks-twitter-profile-picture-change/articleshow/84544778.cms">Dogecoin jumps 10% after Elon Musk’s Twitter profile picture change</a>

Bitcoin edges lower for its worst weekly performance in over a month as as cryptocurrencies struggle to recover from heavy sell-off

<ul class="summary-list"><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> saw the most inflows, totalling $39 million and ether was in second place with $17.7 million in the week to July 5.</li><li>Crypto assets saw inflows of $63 million after 4 weeks of outflows, a CoinShares report shows.</li><li>For the first time in 9 weeks all crypto assets saw an inflow, meaning investment sentiment was up.</li></ul>Investors are putting money back into bitcoin and ether after a four-week run of outflows, alongside a revival in inflows for all crypto assets as the third quarter got underway, a CoinShares report published Monday said.The report, which analyzes institutional digital-asset flows, found there were total inflows of $63 million in the week to July 5. For the first time in nine weeks, all crypto assets saw inflows, suggesting a turnaround in investor appetite.Bitcoin led with a total of $39 million in inflows, while second-place ether logged $17.7 million. Together, the two most popular <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> accounted for 90% of all inflows. "We believe it is due to a slow improvement in sentiment and investors looking to take advantage of low prices to add to positions," James Butterfill, investment strategist at CoinShares, told Insider.Market watchers have pinned the four straight weeks of outflows on China's recent crackdown on crypto <a href="https://markets.businessinsider.com/currencies/news/bitcoin-mining-china-price-crypto-regulation-glassnode-2021-6">mining</a>. Last week, crypto funds pulled $1.3 million out of bitcoin and $50 million out of ether, the largest on record.Bitcoin has lost 0.7% in value over the past week, broadly trading between $33,000 and $36,400, according to <a href="https://coinmarketcap.com/currencies/bitcoin/">CoinMarketCap</a>. It was changing hands at $34,216 Tuesday, down almost 50% from its peak above $65,000 in April.Ether, whose network <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> has <a href="https://markets.businessinsider.com/news/stocks/ethereum-more-active-addresses-bitcoin-traders-are-bearish-2021-7">more active addresses than bitcoin</a>, was broadly flat for the past week, trading at $2,268 early Tuesday. It's down nearly 50% from a record $4,168 in May, according to <a href="https://coinmarketcap.com/currencies/ethereum/">CoinMarketCap</a> data shows. <div type="image" title="Weekly crypto asset flows" height="542" width="785" msid="84174088" hostid="261"></div>The smaller altcoins saw inflows even as their prices were declining. <keyword id="6221313" type="UNKNOWN" weightage="60" keywordseo="xrp">XRP</keyword> saw inflows of $1.2 million, dot saw $2.1 million and <keyword id="5294933" type="PERSON" weightage="60" keywordseo="cardano">cardano</keyword>'s ada clocked $700,000.Over the past week, XRP's price fell by 1.73%, dot fell by 4.99% while ada, which is a more environmentally friendly alternative to bitcoin, rose 3.03%.The inflows in multi-digital assets reached $600,000, down from the previous week, meaning investors are less focussed on diversification, CoinShares said.

Bitcoin and ether are seeing a resurgence in institutional capital inflows as all digital assets pick up steam: CoinShares

<ul class="summary-list"><li><keyword id="1972612" type="PERSON" weightage="60" keywordseo="Coinbase">Coinbase</keyword> has added <keyword id="11207036" type="UNKNOWN" weightage="60" keywordseo="polkadot">polkadot</keyword>'s <keyword id="16054" type="ORGANIZATION" weightage="60" keywordseo="DoT">dot</keyword> to its Pro trading platform, the <a href="https://blog.coinbase.com/polkadot-dot-is-now-available-on-coinbase-9c75ce674fcd">company said Wednesday</a>. </li><li>The polkadot network allows different blockchains to link up to transfer data and assets. </li><li>Native token DOT, used to secure the network, has surged 200% over the past year. </li></ul>Coinbase said on Wednesday it has added polkadot's native token to its cryptocurrency trading platform, which will reinforce the bull case many investors already see for the <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> network's closest rival.Polkadot is also available on Coinbase's Android and iOS apps. Users can trade, send, receive, and store DOT in Coinbase regions, except Singapore, Coinbase <a href="https://blog.coinbase.com/polkadot-dot-is-now-available-on-coinbase-9c75ce674fcd">said in a blogpost.</a>Polkadot enables transfers of data and assets across different public blockchains. It has excited <a href="https://www.businessinsider.com/europes-leading-crypto-vc-kr1-investing-strategy-pitching-tips-staking-2021-4">some investors</a> who anticipate that future specialized blockchains will need to link up into a single network. Polkadot's native token, DOT, can be used to stake, or validate, transactions on the network or connect new transaction chains, in similar way to <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>eum's ether token. Gavin Wood, the creator of the first version of the ethereum network, built polkadot.A number of crypto investors have said they heavily favor polkadot to take on ethereum's supremacy. Keld van Schreven, the co-founder of venture capital firm KR1, <a href="https://www.businessinsider.com/crypto-investing-vc-polkadot-ethereum-kr1-defi-projects-trends-watch-2021-5">told Insider recently</a> his company had invested in polkadot because it was cheaper and faster than ethereum.DOT <a href="https://www.businessinsider.com/crypto-investing-outlook-vc-strategy-thesis-ethereum-polkadot-dot-cosmos-2021-6">has risen around 200%</a> year-to-date, and was trading at <a href="https://nomics.com/assets/dot-polkadot">$23.84 on Thursday</a>. It's the ninth largest cryptocurrency, with a market value of around $23 billion, according to CoinMarketCap.

You Searched For "polkadot" and got 6 results

Altcoins surge as Evergrande crisis cools off, with avalanche, cosmos and polkadot leading the charge

Camomile Shumba

Sam Bankman-Fried's crypto exchange FTX plans to list cardano and polkadot spot trading as it tries to attract retail investors

Harry Robertson

Ether tops $3,550 for the first time since May, while dot hits a record high, as DeFi and NFT mania boost altcoins

Camomile Shumba

Bitcoin edges lower for its worst weekly performance in over a month as as cryptocurrencies struggle to recover from heavy sell-off

Isabelle Lee

Bitcoin and ether are seeing a resurgence in institutional capital inflows as all digital assets pick up steam: CoinShares

Camomile Shumba

Coinbase adds Polkadot's DOT to its selection of tradable cryptocurrencies, fueling the bull case for ethereum's closest rival

Anna Cooban

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