In what is an interesting development, Chainlink has announced its support for the development of in-demand Ethereum infrastructure projects via its participation in Gitcoin Grants Round 8. Hopefully, this puts to bed the irrational discussions on $ETH vs $LINK in the future because it’s obvious, crypto needs both projects to support each other in order...Read More
While Bitcoin’s price was rallying on the price charts, DeFi tokens were adding TVL in both BTC and ETH. However, after the price dropped by 8.64%, DeFi’s TVL soon plummeted from $14.35B on 23 November to $12.7B in less than a week. This didn’t mean that DeFi’s rally was over though. In fact, while the...Read More
For Bitcoin’s price, a pullback of 11% is not an unusual event. Call it weekend blues or price corrections, there have been even greater pullbacks in the crypto-asset’s market in the past. This is something that needs to be understood clearly as, over the past 3 years, no rally apart from the present one has...Read More
After the Supreme Court’s ruling to quash the ban on cryptocurrencies in India, activity in the crypto space has grown significantly, however, some rumors have still emerged about the uncertainty regarding the legal status for Bitcoin and cryptocurrencies in the country. However, as Sathvik Vishwanath, CEO of Unocoin stated in a recent interview spoke about...Read More
Bitcoin’s price may be suffering from weekend slumps yet again and it has dropped over 11 percent from the $19,200 level. The market capitalization is down from $581 Billion to $512 Billion and on-chain analysts are comparing the price action in the past week to Gold’s fractal of the 70s. Mark Twain’s comment “history never...Read More
Bitcoin’s volatility is high this week, as the price has dropped from $19000 to $16900. The price hike was supported by the “shortage of supply” narrative. Looking at how the supply is not short anymore and based on data from Chainalysis, the change in BTC held on exchanges in the last day is 39.51k BTC,...Read More
This past week has been one heck of a ride, and that’s by Bitcoin standards. After rising to over $19,000 for the first time since December 2017, teasing close to the ATH, Bitcoin crashed by nearly $3,000 in two days, and left the same old dinner conversation open – ‘Bitcoin’s too volatile to invest in.‘...Read More
When Bitcoin’s price was rallying, most traders were glued to trading platforms or whatever exchange it is that they trade on. The price climbed from $17000, all the way to $19000, and back, did they sell, and if they did, did they time it right? Why is it so hard to tell when it is...Read More
Ethereum mining difficulty hit an all-time high on 27 November. The mining difficulty jumped to 3,719 terahashes as the second-largest coin was being traded close to $511. Source: Twitter This all-time high was registered on the heels of a two-year high marked at 3,650 terahashes on 21 November, as noted by the data provider Glassnode....Read More
Yearn Finance has been actively integrating with multiple DeFi protocols of late, and Cover Protocol is the latest addition to this chain of partnerships. Yearn Founder, Andre Cronje, announced the Yearn and Cover merger earlier today, stating that Cover will become the backstop coverage provider for the Yearn product suite, as well as for DeFi...Read More
Ripple and MoneyGram announced a strategic partnership in 2019. A year later, Ripple is selling roughly one-third of its stake in MoneyGram. This was the first time Ripple has taken such a step. According to a filing with the United States Securities and Exchange Commission [SEC], Ripple owns 6.22 million shares [8.6% of outstanding shares]...Read More
“But, we have a question to discuss. Can it [Digital Renminbi] replace Alipay, WeChat Pay, and bank cards as the main electronic payment tool?” That was the question posed to Li Lihui, former President of the Bank of China, during the 2020 Caijing Annual Meeting about CBDCs. The exec responded that at least for the...Read More
Thanksgiving was an eventful day in terms of the overall market movement, as Bitcoin dropped to $16k levels, witnessing its largest single-day drop since March 12, 2020. Over $1.3 billion was liquidated from exchanges, however, amidst this selloff, DeFi saw its own share of liquidation as DAI prices on Coinbase Pro escalated rapidly, leading to...Read More
OKEx opened its withdrawals on 26 November, a day before the previously announced date. The exchange had offered compensation to the users who had suffered during the one-month long suspension of certain services, but that did not prevent some to jump ships. As the exchange lifted the withdrawal suspension at 08:00 UTC, nearly 2,822 Bitcoins...Read More
Big tech and stablecoins could disrupt the European financial system, says ECB Executive Board Member, Fabio Panetta. In a speech at the “Future of Payments in Europe” conference, Panetta stated, “While they could offer convenient and efficient payment solutions, they risk endangering competition, privacy, financial stability and even monetary sovereignty.” He also went on to...Read More
Bitcoin is now trading at $17275, down from $19300, 3 days ago. The price has dropped by 10.49% and Bitcoin longs worth $43.8 Million were liquidated in the past 24 hours on BitMEX vs $6.5 Million shorts. 3 days ago, on November 24, 2020, the situation was a contrast. There were more shorts getting liquidated...Read More
Amidst all the market movement over the past few days, and liquidations observed over exchanges, CME has now overtaken OKEx to become the largest Futures market for Bitcoin. According to data from @skewdotcom, CME is now the largest futures market for #bitcoin! Institutional investors are here🏦💰 pic.twitter.com/6GgQdrMw12 — Arcane Research (@ArcaneResearch) November 27, 2020 Data...Read More
After going back and forth with its digital currency, Facebook has announced the launch of its cryptocurrency, Libra by January 2021. According to reports, three unidentified people involved in the project have disclosed this information and noted that it will launch a single digital coin backed by the dollar. The Geneva-based Libra Association will issue...Read More
CEO of Ripple, Brad Garlinghouse spoke about crypto regulation today and shared his views about what it would mean to Ripple if US regulators were to declare XRP as a security. Garlinghouse went on to state that if the SEC deems XRP a security, US citizens would require a broker-dealer license to trade the crypto....Read More
China-based blockchain infrastructure provider, Blockchain Service Network or BSN, which is backed by the Chinese Government, today announced that it has added major blockchain protocols such as Polkadot, Oasis and Bityuan into its network. In a tweet published on 26 November, the firm announced: Welcome @Polkadot @OasisProtocol @Bityuanofficial into the BSN family! pic.twitter.com/yD6LfMlNDb — BSN...Read More
MicroStrategy’s adoption of Bitcoin as its primary reserve asset took the market by storm, with many arguing that the development was one of the catalysts behind BTC climbing to $19k on the charts. The firm’s Michael Saylor recently spoke about Bitcoin and his company’s decision to invest in Bitcoin, which is now up by over...Read More
The world’s largest cryptocurrency, Bitcoin, was roaring and climbing towards its all-time high until a few days ago. In fact, BTC climbed to a yearly high of $19,490 after it managed to surge by 42%. At the time of writing, however, corrections were setting in, with Bitcoin down by 16% in just two days. While...Read More
Gold advocate and American stockbroker Peter Schiff took to twitter today to clarify to the crypto community that he understands Bitcoin well enough to not participate in the BTC market. The clarification is because Schiff believed that his lack of participation in the market has caused many users to doubt that Schiff does not understand...Read More
For many, India is a country with a lot of untapped potential, a country that can truly launch the crypto-space to the stratosphere. However, many hurdles stand in the way of these dreams becoming a reality. These hurdles were recently highlighted by a survey reporting the sentiments of investors in India, a survey done by...Read More
A lot of numbers for the future price of Bitcoin have been thrown around recently, but most of them have been presented without context. The following article will focus on Bitcoin’s achievements, putting them in the context of traditional world assets. The first thing that comes to mind is gold due to its similarity with...Read More
3iQ, Canada’s leading crypto-asset fund manager, made headlines recently after it announced a successful treasury offering of its Bitcoin Fund. The Bitcoin Fund offering consists of 2,222,300 Class A units, of which the gross proceeds are expected to amount to $50,001,750. The offering is expected to close around the 30th of November 2020, with the...Read More
Libra Association, the independent member organization, which is overseeing Facebook’s Libra project, has appointed Saumya Bhavsar as General Counsel of Libra Networks, which is a wholly-owned subsidiary of the Association- according to a new update published on 25 November. The Libra Network manages the operations of the licensed Libra payment system. Bhavsar, a former Managing...Read More
A cryptocurrency mining farm has caused a fire to break out in an apartment in St. Petersburg in Russia, which injured a 35-year-old owner of the rig. The press services of the Ministry of Emergencies told local media that the cause of the fire was because the owner did not install a cooling system for...Read More
US Director of National Intelligence John Ratcliffe wrote a letter to US SEC Chairman Jay Clayton earlier this month about concerns pertaining to the Chinese influence over cryptocurrencies. According to a report from the Washington Examiner Ratcliffe even offered to have the senior economic intelligence officials brief Clayton on the matter. For now, the SEC...Read More
Yes, you heard it right, bitcoin’s joy ride up to $19,000 was exciting, but we can expect more of that soon. More of it due to the accidental spillage of “Chemical X”. Professor Utonium’s creation had an accidental spillage of Chemical X, likewise, this bitcoin rally has similarities to it and more interesting connections. The...Read More
