Cryptocurrency price news – Bitcoin price slumps as Ethereum,

On Sep 24, 2021

BITCOIN slumped slightly following an error by a data provider run by Wall Street big-hitters, which showed a 90 per cent plunge in Bitcoin.

Pyth, which provides financial data to a number of major investment firms, confirmed in a tweet on Monday that a glitch was behind the issue.

The blunder did not turn up on other platforms, meaning only Plyth customers were affected.

It’s hard to tell if the glitch had an impact on Bitcoin’s market price, or whether it impacted investors.

As of Thursday, Bitcoin’s value was sitting at around $43,000.

CoinBase may soon eclipse Bitcoin in the crypto space.

“Coinbase brings a different level of credibility to the space, being the only publicly listed company in the cryptocurrency industry,” AMBCrypto reported.

Read our cryptocurrency live blog for the latest news and updates…

EXPERTS ‘OPTIMISTIC’ ABOUT BITCOIN’S FUTURE

Maggie Wu, the CEO of blockchain venture capital firm Krypital Group, says challenges in Bitcoin adoption do exist, however told Forbes she’s optimistic about its future.

“I believe that Bitcoin adoption is conceivable, especially in the relatively small developing countries with inadequate monetary systems where the recognition of digital currencies there is relatively high,” she said.
SHIBA INU STRIVES TO BE ALTERNATIVE TO DOGECOIN

Shiba Inu coin now operates on its own Etherem blockchain.

The currency strives to be an Ethereum-based alternative to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange known as Shibaswap, according to Yahoo! Finance.
EXPERTS WEIGH IN ON ALCHEMY PAY AND BINANCE

Shaun Heng, vice president of growth and operations at CoinMarketCap told The Sun that it’s challenging to assess the risk of many crypto projects like Alchemy Pay.

And while he isn’t a fan of Alchemy Pay’s crypto-linked cards, he did tout one its partners Binance, which is the largest crypto exchange by trading volume globally.

Heng said: “The partnership with Binance is most definitely a good sign of validation for the project.”

WHAT IS SOLANA?

Solana is a challenger to Ethereum as the blockchain of choice for building decentralized applications.

Similar to rivals such as Cardano, the project claims to offer a faster and more efficient alternative.

The idea and initial work of Solana began in 2017, but it didn’t officially launch until March 2020.
PYTH APOLOGIZES

In a series of tweets on Wednesday, Pyth apologised for the mishap.

“We are communicating with Pyth partners and data providers to ensure transparency, accuracy, and confidence in Pyth,” the platform wrote.

“We know our users depend on us and we’re working with affected partners on remedying the situation.

“Better developer documentation and guidelines on the usage of the Pyth oracle are underway, stay tuned.

“We deeply thank the community for the support you have shown us. Pyth will keep building toward the promise of delivering trustworthy, high-fidelity financial information.”
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