Exchange tokens have been around for over 3 years now and yet, there are many who claim that these assets remain difficult to price or attribute real value to. This is interesting since the definition of an exchange token is pretty basic – a utility token that gives users a stake in any cryptocurrency exchange...Read More
Until quite recently, Ethereum’s price seemed to have surged overnight owing to the ongoing DeFi craze. In fact, according to many analysts, DeFi’s explosion has been the top driver for Ethereum’s growth. What’s more, DeFi’s Total Value Locked figures have grown from under $1 billion at the start of 2020 to upwards of $10 billion....Read More
Bitcoin’s recent price action triggered a cascade of sell liquidations on BitMEX. In fact, a total of $264 million sell orders were liquidated following Bitcoin’s price drop below $11,500. Interestingly, the U.S stock market also suffered a similar fate. However, perhaps the reactions of traders on derivatives exchanges are most important since those reactions influence...Read More
Bitcoin’s price has been increasingly volatile over the past few days. However, despite its most recent fall, the cryptocurrency has been able to maintain its position above the key $10,000-mark. While growing uncertainty in the global markets has followed the fiat printing spree governments undertook to keep the economy alive, Bitcoin’s value proposition as a...Read More
Ethereum has been sharing the limelight with Bitcoin this year following its exponential growth. This growth, however, was churned out by the growing interest generated among users through Decentralized Finance [DeFi] and the thought of making use of smart contracts to leverage positions in the market. With DeFi gathering momentum, ERC-20 tokens too were grabbing...Read More
The Decentralized Finance [DeFi] space has gained a lot of attention in 2020 and given the hype, it has invited a lot of skeptics as well. Alas, the hype of DeFi seemed to come crashing down on 5 September after the anonymous founder of SushiSwap sold all of his tokens, with many yelling “Exit scam!”...Read More
In light of the short-term memory span of most people in the cryptocurrency space, it’s easy to forget just how bullish Bitcoin has been, despite its drop from $12,000. For over a month, Bitcoin has been trading in five-digits, and most of that time was spent over $11,000. The largest cryptocurrency in the world was...Read More
Tether has become more mainstream than ever. It ranks third with a market capitalization of $13.7 B with its market dominance having increased by 2.9% since August 31, 2020. Source: CoinMarketCap However, this level of dominance and explosive growth makes it an outlier in stablecoins. Tether was introduced as the ‘digital dollar’ for facilitating entry...Read More
Cryptocurrency exchange Binance announced today the launch of its “centralized” Automated Market Maker (AMM) pool called Binance Liquid Swap, which will have different liquidity pools that will allow liquidity providers to earn interest and income from trading fees. Founder and CEO of Binance, Changpeng Zhao said that he was taking cues from the DeFi trend and...Read More
Binance may have entered the derivatives space late, but within no time, it has established its place in the market and among users. The reason behind its success was the variety of altcoins offered by the exchange along with the major coins. 2020, has been the year of DeFi and Binance realized this and added...Read More
Brazil Central Bank President, Roberto de Oliveira Campos Neto, announced that plans to have a digital currency by 2022. In an interview with Bloomberg Markets’ Editor, Erik Schatzker, Neto said that Brazil’s central bank digital currency or CBDC will modernize the country’s banking system. According to Neto, Brazil’s central bank leadership in 2019 led to...Read More
Bitcoin may be the dominant cryptocurrency in terms of its market cap, but altcoins have gained a lot of attention this year. Chainlink [LINK] has been one such altcoin, that grew exponentially over the past few months, providing investors massive gains. There have been several products introduced by exchanges to invite more user interest on...Read More
A judge in the Seoul Central District Court today announced a ruling regarding a lawsuit filed by three users of Bithumb Korea who claimed $126,000 and $38,000 for damages citing data leaks during a 2017 Bithumb hack. The ruling is said to hold Bithumb partially liable for the damages claimed by the users. Local news...Read More
The cryptocurrency market is well-versed with the subject of volatility. Such volatility has not only helped many a crypto-asset break out of its sideways movement on the charts, but the same has also precipitated sudden sell-offs. Traders often use volatility in their favor to hedge against potential risks in the market, while avoiding unexpected price...Read More
Coinbase, the San Francisco based cryptocurrency exchange announced in a blog today that it has now “temporarily” listed Celo under the CGLD ticker symbol, which is also available on the iOS and Android apps of the exchange. Celo (CGLD) is launching at https://t.co/u9kzBrgZWx and in the iOS and Android apps within the next 15 minutes....Read More
In a panel discussion with the Brooking Institution, Governor of the Bank of England, Andrew Bailey said that stablecoins, Bitcoin, and other cryptocurrencies are difficult and unsuitable for the public to use for traditional payments as he believed that the majority of the retail public still does not understand the usage of digital currencies. According...Read More
Bitcoin may have been confined to certain price levels, forcing it to endure quite a bit of sideways movement, over the past few months. However, parallelly, the DeFi space has registered a major boom. The growth of DeFi this year has also raised questions about the sustainability of the platform it is based on –...Read More
Companies and individuals in Switzerland can now pay taxes up to 100,000 Swiss francs (about $110,000) paid in Bitcoin or Ether. Authorities in Switzerland announced today that it planned to accept premier cryptocurrencies Bitcoin (BTC) and Ether (ETH) for tax payments from February 2021 onwards, according to a report from the Associated Press. The decision...Read More
Ethereum has been carrying the burden of weak, yet vital, fundamentals for the majority of August. With its value performing exceptionally in the market, most people are overlooking the fact that this was largely possible only due to the involvement of DeFi, and not ETH interest or adoption. Santiment’s latest tweets, however, have re-stated a...Read More
Bitcoin crossed $12,000 and slid under the range, yet again. Speculation with respect to an imminent bull run is almost unavoidable at the moment. With every key metric turning plush green every day, for more proponents, the next big rally for Bitcoin is seemingly around the corner. Bitcoin’s Short-Term Holder metric conveyed the same sentiment at...Read More
BiLira (TRYB), Turkey’s first stablecoin which is backed by the Turkish fiat currency lira announced on twitter that the token has been listed on the Bittrex Global crypto exchange. The announcement detailed that the ERC-20 token will be available for trading starting from today. Global Bittrex, a U.S based cryptocurrency trading platform, also joined the...Read More
Coro Global, a Florida-based company that allows customers to exchange, send and save gold as well as U.S. dollars announced the launch of its payment app ‘CORO’ that runs on Hashgraph’s distributed ledger technology. With this move, Coro Global which has a large customer base in the U.S became the first company to formally license...Read More
The start and conclusion of August echoed a similar note for Ethereum; both witnessed the beginning of a bullish rally. In between, the markets were extremely choppy but according to Deribit’s August Institutional Newsletter, the altcoin registered another positive month in terms of derivatives activity. According to the newsletter shared with AMBCrypto, Ethereum’s turnover growth...Read More
Grayscale is by far, the most popular investing company in the U.S with its popular investment tool – Grayscale Bitcoin Trust [GBTC]. It is obvious that Grayscale Investment hasn’t had a serious competitor for a very long time and this has caused the company and its investors to enjoy a monopoly over crypto investments. Although...Read More
Bitcoin wasn’t created as a normal equity investment. However, analysts have correlated it with Gold and S&P 500 every cycle. This is drawing speculative traders in, and Bitcoin is being purchased for its investment value. However is the store of value narrative is dying a slow death, with this week’s Bitcoin Gold correlation at 10%...Read More
Roger Ver today announced in his tweet that deadalnix will be forking from Bitcoin Cash on 15 November, 2020. The tweet did not mention the name of the new coin that will be created as a result of the fork, but twitter users were quick to chime in with suggestions like BCASH. Bitcoin ABC and...Read More
U.S government agency, CFTC or the Commodity Futures Trading Commission, today charged 20 entities, among which some were crypto traders and exchanges, for making false claims of having CFTC registration and National Futures Association (NFA) membership. These are mandatory registrations that allow exchanges to offer services related to trading in digital assets, derivatives, and forex...Read More
Bitcoin has set on a rally with the beginning of the last month of the quarter. The largest asset’s price increased from $11,515 at midnight to $11,966.84, until an hour back, which could be due to the interest flowing into the BTC market. Even though the beginning of September was looking strong, the final week...Read More
Bitcoin and cryptocurrency research development group, Chaincode Labs has hired developer and co-founder of Blockstream, Pieter Wuille, who will now work on protocol improvements to Bitcoin. The coder and engineer posted a tweet in which he said he would continue to collaborate with the research team at Blockstream. Very excited to announce I’m joining Chaincode...Read More
Five months after the project was unveiled, Binance announced the launch of its Binance Smart Chain blockchain today, which enables creation of smart contracts and allows users to stake BNB, Binance’s very own token. The blockchain is compatible with Ethereum Virtual Machine, which may increase the utility of both Binance Chain and the BNB token....Read More
