Yield chasers in search of the next “DeFi gem” are falling victim to elaborate scams with rogue actors on the prowl, using cleverly devised malicious contract codes to steal funds. From “rug pulls” to outright absconding with presale funds, the activities of DeFi scammers are threatening to overshadow the novel developments in the emerging crypto...Read More
Polkadot formed a continuation pattern that suggested the possibility of an upward surge in price. However, it could take some time to manifest. In the near-term, the price could be set for a few more trading sessions of relatively lowered volatility. Tron showed signs of bearishness. Ontology was likely to slide toward support but lacked...Read More
The United States watchdog, Securities Exchange Commissions charged cybersecurity software developer John McAfee for allegedly making over $23 million in the process of shilling seven initial coin offerings. The ICOs reportedly raised $41 million in the process with half of those proceeds pocketed by McAfee. The SEC indictment read: From at least November 2017 through...Read More
Chief Executive Office of Ripple Labs, Brad Garlinghouse announced in a tweet today the firm appointed two “longtime Ripplers” as General Managers of RippleNet and RippleX (previously Xpring) in an effort to evolve the brand and support Ripple’s “growing” customers. Calling it a “fresh take” on the Xpring brand, RippleX will now focus on utility...Read More
The US Securities and Exchange Commission (SEC) has filed fraud charges against the popular cryptocurrency proponent and well-known tech entrepreneur, John McAfee. According to the documents, McAfee has taken advantage of his massive Twitter following and has “leveraged his fame to make more than $23.1million in undisclosed compensation by recommending at least seven initial coin...Read More
The U.S. Securities and Exchange Commission (SEC), and the U.S Office of the Comptroller of the Currency (OCC) have yet again provided clarity on the cryptocurrency and blockchain regulations in a webinar. In the webinar, SEC Chairman, Jay Clayton, said that SEC’s “door was wide open” for entities to understand how to “tokenize the ETF...Read More
Except for Digibyte, both XRP and IOTA indicate mild to strong bullish indications. Digibyte shows a clear downtrend possibility, however, not to a huge extent. XRP Source: XRPUSD TradingView XRP has seen a good surge in the last week, with price surging by almost 9% in the last 12 hours. This surge might soon come...Read More
The combined stablecoin market recently topped a valuation figure of $20 billion. Apparently, this was the total market value of all cryptocurrencies in the pre-bull run month of February 2017. Also, stablecoins together are contributing to $26 billion worth of trading volume. The Crypto Stablecoin Market Is Booming As per the latest statistics, the total...Read More
There are enough narratives of DeFi’s bullishness in response to every new development in the crypto space. Starting from the KuCoin hack to the recent CFTC charges on BitMEX, every event is known to have a positive impact on DeFi projects’ ROI in the long run. However, the immediate and short-term implications of DeFi are...Read More
A research conducted by Alex Manuskin, at ZenGo revealed today on twitter that “yield farming” project UniCats allegedly stole nearly $200,000 worth of Uniswap (UNI) tokens from several ethereum users. Manuskin believed that UniCats added a “backdoor” to the yield farming smart contract which allowed the platform to have complete control over its users’ tokens...Read More
Cardano appeared to be forming a bullish reversal pattern, although it could take several more days to give concrete confirmation signals. Tezos formed a continuation pattern and was likely to register more losses. Dogecoin exhibited a hidden bearish divergence and could be forced to test support once more, and perhaps break beneath as well. Cardano...Read More
A total of $29.85 billion has been erased from Bitcoin’s market capitalization since the last peak on August 18, 2020. This decline has led to speculation if the ongoing market is bullish and wild price swings have come from BitMEX or other top exchanges, or is it bearish. Bitcoin’s price is in the $10.3-$10.6k range...Read More
Litecoin has seen a fair amount of surges in the past week or so, however, these profits were wiped off equally quickly. At press time, LTC is trading at $46.37 and presents an ambiguous situation about its near future. Litecoin 1-day chart Source: LTCUSD TradingView The 1-day chart attached above showed Litecoin forming a symmetrical...Read More
Litecoin was moving within an ascending channel and had reclaimed a level of resistance recently. Stellar Lumens faced heavy selling pressure and was likely to see a drop in value. Basic Attention Token trended upward for a period of nearly two weeks before the trend exhausted itself and bears seized control. Litecoin [LTC] Source: LTC/USD...Read More
Two of the biggest Italian digital payment companies Nexi and SIA have reportedly high-fived for a new deal to create a domestic payments group with 1.8 billion euros ($2 billion) in revenue. The new firm’s executives plan to expand in Europe and compete with other digital payments companies. Burying The Hatchet Viewed as the two...Read More
Bitcoin has many rivals. But the one it really wants to displace is gold. Gold has been an investing ‘safe-haven’ for centuries, but digital gold is challenging its claim. The cryptocurrency claims to have more real-world transact-able value than gold. And what’s more, it can be easily stored, sent across the globe, and used as...Read More
Ethereum 2.0, or the lack thereof thus far, has been making the news of late. For people actively following its progress, the ETH Online Kickoff Summit, which saw the likes of Vitalik Buterin and Danny Ryan discussing the development shed some light on the path to scaling ETH 2.0. Source: ETH Online Kickoff Summit A...Read More
Bitcoin active supply with a 1-day Moving Average has hit a 22-month low. The last time when BTC supply dropped to this level, the price was in the $3.5 to $3.7k range. Since the last week of September 2020, miners started HODLing and this has changed the dynamics of supply. At $409 million, BTC inflow...Read More
XRP/USD – Bulls Finally Break 100-days EMA Resistance Key Support Levels: $0.243, $0.237, $0.228.Key Resistance Levels: $0.251, $0.26, $0.271. XRP found support at the $0.23 level at the start of October. It rebounded from this support yesterday to finally push higher above the resistance at the 100-days EMA – a level which the coin struggled...Read More
Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance. CFTC Charges Against BitMEX Owners As CryptoPotato reported last week, the US Commodities and Futures Trading...Read More
Chainlink made two attempts at an important region of resistance last week, but was rejected on both tries and could be set to post losses over the coming days. Cosmos could face rejection at its resistance once more but could post some gains in the short-term while VeChain was forming a bearish pattern and could...Read More
Support for Ethereum 2.0 is growing rapidly. In a significant milestone, Eth2’s Medalla test net has expanded to more than 75GB in size. Along with this, the number of staked test ETH on the test net has crossed well above 2 million. Ethereum 2.0 Testnet Size Tops 75 GB As per the latest reports, two...Read More
Tether’s market capitalization is 47% higher than XRP and it ranks third, after Bitcoin and Ethereum. Despite being shrouded in controversies, it has led the stablecoin market and added $100 million in market capitalization every day since July 2020. Tether reserves on exchanges dropped in August 2020, however, there was a recovery above the 1.5...Read More
The start of October has been an unceremonious one for Bitcoin SV with the price unable to break away from its $150-$160 range. With the trend appearing a little less bullish every single day, the market had its hopes pinned on Bitcoin or Ethereum to trigger a rally. Although price-wise the top two assets were...Read More
The central bank of Thailand has leveraged blockchain technology running on IBM Cloud to launch the world’s first DLT-based platform for government savings bonds. Within the first two weeks of operations, the blockchain-based platform has issued a total of $1.6 billion of such bonds. The announcement from the International Business Machines (IBM) Corporation reads that...Read More
We’re currently seeing a diverse set of different cryptocurrencies trying to establish their roots in the global financial landscape. With this, the demand for platforms that allow crypto users to exchange between different assets also continues to grow. Crypto swaps and exchanges make it possible for the average crypto user to have easy access to...Read More
BNB in the Top 5 ranking list Binance’s native coin, BNB has secured its place among the top 5 cryptocurrencies. Leaving behind tokens like Bitcoin cash, Polkadot, BNB is all set to touch $30 anytime from now. The digital asset is priced at $28.79 with a 24 hour gain of 1.1 percent. Previously, a couple...Read More
Bitcoin rose from $10,550 to $10,750 in the past 24 hours but selling pressure pushed BTC’s value to $10,660 at press time. Source: CoinStats Binance Coin was bullish in the markets while Zcash can expect a minor pullback in the next few trading sessions before another attempt at resistance. Dash might be set to lose...Read More
October 15th is approaching, and that’s the latest deadline for submitting a rehabilitation plan for reimbursing the Mt. Gox creditors. With them claiming over 150,000 bitcoins, which is about 15% of the total value owed to creditors, the community speculates on the potential market impact. October 15th: What You Need to Know The Mt. Gox...Read More
According to data recently published by Santiment, the social volume of Ethereum is nearing six-month low levels across social discourse platforms. This would imply that traders are looking for volatility elsewhere to trade. Ethereum Social Volume vs Price Chart Source: Santiment It would appear that ETH’s social volume has been declining since its 2020 peak...Read More
