American entrepreneur Erik Voorhees who founded ShapeShift said that any asset manager today who remains ignorant of Bitcoin “needs to seriously check their premises.” He took to Twitter to make this remark after retweeting data shared by analytics platform Messari co-founder Dan McArdle that showed how Bitcoin has outperformed everything over the last ten years....Read More
To say that this week was interesting would be an understatement. It had a little bit of everything. Starting off, towards the beginning of the week, Bitcoin officially surged past its 2017 high and recorded a new all-time high, clocking at almost $20,000 but couldn’t really manage to surge past that point. Naturally, as it...Read More
CEO of major cryptocurrency exchange Binance, Changpeng Zhao, or CZ, expects the exchange to make profits between $800 million and $1 billion this year. According to Zhao, Binance’s expected profits for this year are up from about $570 million – or almost double – of what it recorded last year. CZ revealed the figures to...Read More
Ordinarily, Bitcoin’s price movements would have a uniform effect on the rest of the altcoin market. However, that wasn’t the case over the previous week since many of the market’s alts found alternate trajectories. While the likes of XRP and Polkadot surged on the charts on the back of their bullish movements, DigiByte failed to...Read More
American billionaire hedge fund manager, Paul Tudor Jones made bullish statements about Bitcoin, and compared Bitcoin and other cryptocurrencies to precious and industrial metals. In an interview with Julia La Roche of Yahoo Finance, Paul Tudor Jones expected Bitcoin to be “substantially higher” in 20 years and that Bitcoin had the “wrong market cap:” In...Read More
Grayscale Bitcoin Trust may be the closest to a Bitcoin ETF in 2020. The daily GBTC trade volume has increased steadily since June 2020 and this is critical to Bitcoin’s price and liquidity. Grayscale Bitcoin Fund requires a minimum investment of $50000, and the trade volume in GBTC is a clear indicator of the demand...Read More
The Acting Head of US Office of the Comptroller of the Currency (OCC), Brian Brooks, said regulators were “very focused” on “not killing” Bitcoin. The comment comes amid speculation about a possible blanket ban on cryptocurrencies in the US. Brooks went on to state that US regulators were planning to develop the networks behind Bitcoin....Read More
Bitcoin’s recent surge that saw it climb to a new ATH on a few exchanges had a profound effect on the rest of the crypto-market. At press time BTC was being traded at $19,403 with a trading volume of $17.5 billion. Source: CoinStats Thanks to BTC’s high correlation with the rest of the market, many...Read More
Top derivatives exchange, Deribit has hit a new all-time high in terms of open interest for Ethereum options. The Exchange announced on 4 December that it hit this new peak as the value of the ETH options reached $826 million. With Ethereum’s value still being high at $589, at press time and returning 370% to...Read More
These are bullish times for Ethereum and its growing community. After all, why would anyone expect anything else? A week after the deposit contract was finally filled with a few hours to spare, the much-anticipated genesis block of the Ethereum 2.0 beacon chain was launched on 1 December. The said development came as a relief...Read More
Synthetix has been a prominent project in decentralized finance [DeFi] that allows derivatives trading. Its synthetic stablecoin asset, sUSD tracked the value of the USD Dollar and has also been experiencing a high demand on lending platforms, as noted by Synthetix. Looking at the rise in demand for sUSD [SUSD], Binance has announced to add...Read More
The past few days have been understandably bullish for the crypto-market. Not only did Bitcoin, the world’s largest cryptocurrency, climb to a new ATH on certain exchanges, but the past week also saw the launch of Ethereum 2.0’s beacon chain with its genesis block. The rest of the market’s altcoins, as expected, reciprocated, with many...Read More
Chief Technology Officer at Ripple and XRP Ledger architect David Schwartz said that XRP community could force the burning of billions of XRP in holding. Recently, a Twitter user asked Schwartz whether the nodes, validators, and community members of XRP Ledger could burn more than 50 billion XRP in escrow. In a tweet, published on...Read More
Although a lot has happened in the blockchain ecosystem in 2020, by far the most significant development has been the rise of DeFi. Decentralized Finance solutions have reinvigorated the altcoin market and revolutionized the world of cryptocurrencies as a whole. The Decentralized Finance market keeps expanding and there’s no end in sight to the DeFi...Read More
YFI Price May Form New ATH on Breaking These Levels One of the most popular DeFi tokens YFI which had made headlines since its inception is expected to plunge to $18,000 levels. The YFI price is expected to drop to the levels if it fails to sustain at $24,000 or $22,000 levels as predicted by...Read More
Elysia, a tokenized real estate ownership protocol, has announced an upcoming integration with oracle solution Chainlink to price properties and calculate token distributions. Elysia’s decentralized real estate marketplace allows users to buy tokens representing property ownership and distributes rewards to token holders when the underlying properties generate income. The Elysia app will leverage Chainlink Price Feeds to...Read More
Barely ten months after the Indian Supreme Court lifted the RBI’s ban on cryptocurrency transactions, fresh reports from yesterday revealed that the country’s tax authority is now keeping a close watch on crypto traders as Bitcoin’s price continues its bullish trend. Taxing Crypto Gains According to local media, the Indian Tax Department is already in...Read More
OMG Network, formerly known as OmiseGo network has been acquired by an investment company based in Hong Kong, Genesis Block. According to the announcement on 3 December, Genesis Block Ventures will work together with OMG Network to build lending and trading platforms for the DeFi sector. GBV has been an active participant in the DeFi...Read More
Only a few weeks ago it was revealed that Pakistan’s Securities and Exchange Commission [SEC] was working towards introducing a regulatory framework for cryptocurrencies. However, things have seemed to have escalated pretty quickly as, Sumera Shams, a member of the Provincial Khyber Pakhtunkhwa (KP) Assembly announced on 2 December the decision by the province’s parliament...Read More
Polkastarter, a Polkadot-based DEX built for cross-chain token pools and auctions, has partnered with Moonbeam, an Ethereum compatible parachain, to enable cross-chain interoperability. In an announcement, Polkastarter stated that the partnership would allow for easy integration between the Ethereum and Polkadot ecosystems. Moonbeam is able to transpile Solidity and other Ethereum-native logic & code to...Read More
