Bitcoin’s price hit an ATH of $18000 on November 18, 2020. Few hours prior to the price rally, open interest on top derivatives exchanges hit a new ATH of $6.4 Billion based on data from Skew. BTC Futures || Source: Skew Bitcoin futures have hit new highs previously, however interestingly every ATH has been closely...Read More
A 21-year-old man from Dublin who took part in the online theft of over $2 million worth of cryptocurrencies has now been imprisoned for just under three years. United States Department of Homeland Security identified one Conor Freeman for being the person behind certain internet handles connected to the offenses. Local police said that Freeman was...Read More
The central bank of the Netherlands, De Nederlandsche Bank (DNB), announced that it has imposed new Anti Money Laundering rules that now require customers of all local crypto exchanges to “prove” that they control their withdrawal addresses linked to their accounts. Crypto journalist, Aaron van Wirdum drew attention to the DNB’s latest regulations in his...Read More
USDT has replaced XRP yet again, to rank third in market capitalization. Based on data from Skew, it has hit a new high of $18 Billion. On Coinmarketcap.com, Tether’s market capitalization is 0.13 Billion shy of 18 Billion. USDT Market Cap || Source: Skew So is Tether taking on the popular altcoin XRP or is...Read More
Self-claimed Bitcoin pioneer and podcaster, Max Keiser, believes that American billionaire hedge fund manager Raymond ‘Ray’ Dalio, will have to buy Bitcoin soon if he wants to stay in business. In a new episode of the Keiser Report, the bitcoin maximalist looked at the many Wall Street legends entering the bitcoin game, such as Paul...Read More
The Bank of Japan [BoJ] had prioritized the development of a central bank digital currency [CBDC] in July, however, as per a former executive the issuance may take several years. Hiromi Yamaoka, who formerly headed BOJ’s division of overseeing payment and settlement systems, told Reuters that the main hurdle in from the of the bank...Read More
In the past 24 hours apart from making headlines, SushiSwap gained 9.25% based on data from DeFiPulse. The project that earned a reputation as the dead $UNI fork that got hacked by the founder 2 months ago is now working on a strong comeback. The Sushi team has been working in the background. The token’s...Read More
Former Olympic wrestler and mixed martial artist, Benjamin Michael Askren, nicknamed “Funky” took to Twitter today to share his opinion on why he thinks Bitcoin was increasing in value. He implied that the premium cryptocurrency was only going up in value because the US dollar was losing its own. In his 17 November tweet, the...Read More
Bitcoin is easily the most profitable investment, so far, since November 2020 bitcoin has yielded an approximate 29% in returns. In comparison other assets fall short, they shy away from bitcoin. Source: TradingView Clearly, bitcoin outperforms each and every last one of them. So, not investing in bitcoin is a no brainer. If you do...Read More
After clocking in a new local top at $476, Ethereum’s price has been tepid over the past week. Clocking in a weekly change of 0.96% drop, Ethereum might be indicative of a correction period with Bitcoin but larger market sentiment remained poles apart with respect to the price. Source: Skew According to recent Skew data,...Read More
As Bitcoin hits newer levels and breaks past resistances, it is trading at $16300. Meanwhile, Bitcoin reserves have dropped consistently since October 2020. Down 5.6% since October 2020 and 17.19% since the beginning of 2020, reserves have been a top factor driving the consistent price rally in 2020. BTC Reserves on exchanges || Source: CryptoQuant...Read More
Over the past few weeks, Bitcoin has been leading the crypto rally and is continuing to do so. The world’s largest cryptocurrency has returned to another new high of 2020, as it finally breached the $17,000-mark across some major crypto-exchanges. In the last hour alone, Bitcoin hiked by over 2.2%, on the charts. Additionally, BTC...Read More
As the value of Bitcoin soars and marks new annual highs, Bitcoin’s proponents have been increasing exposure to the digital asset. Galaxy Digital, the crypto merchant bank with Mike Novogratz as its founder and CEO announced that the company was expanding its services in Canada along with CI Global Asset management. According to the announcement,...Read More
As of Tuesday, the Origin Protocol becomes yet another victim of the flash loan hack. This has caused a loss of funds north of $7 million including funds deposited by the founders. The attack was due to a reentrancy bug. The blog stated, “Unfortunately, our contract was safe from reentrancy bugs unless one of our...Read More
Economist Nouriel Roubini has criticized the booming decentralized finance (DeFi) economy by labelling the entire sector as“the new crypto fad” and “junk vaporware.” The American economist took to Twitter on 16 November to root for “great cheap” fintech solutions that he believed will not depend on hyped blockchain technology. He said in a tweet: The...Read More
If one were to choose one word to define Bitcoin and its price movement over the past few weeks, it would be Persistence. With the cryptocurrency’s valuation showing no signs of stopping since October, Bitcoin hinted at a price reversal after it dropped down to $15,800 on 14 November. While the crypto’s price was back...Read More
Major Cryptocurrency exchange Binance announced that it would now discontinue its own BGBP stablecoin, which was linked to the pound sterling. Other than removing the BGBP/USDC pair, the exchange said on Monday that it would remove several trading pairs, including AE/ETH, BLZ/BUSD, KMD/BUSD and NULS/ETH. In its announcement, Binance said that BGBP/USDC is the last trading...Read More
After recovering from a drop of nearly 3.5% based on data from CoinMarketCap, many believe that there is little resistance to Bitcoin’s price climbing from $16K to a new ATH on the charts. However, while most people are concerned and excited about Bitcoin finally breaching its ATH, what seems to be lost on most is...Read More
The Securities and Exchange Commission of Pakistan (SECP) is reportedly working towards introducing a regulatory framework for cryptocurrencies, according to a new document published this week. The SEC emphasized that this study focused exclusively on non-government or private crypto assets and not on Pakistan’s central bank digital currencies (CBDC). Stating that it welcomed any comments...Read More
A self-claimed Chinese cryptocurrency reporter, Colin Wu, who has an exclusive focus on the crypto mining industry, regulation and exchanges in China, took to twitter today to share that Bitcoin miners based in China are finding it difficult to pay their electricity bills. Colin Wu found that the Chinese local governments have been cracking down...Read More
While Ethereum was trading above $450 at press time, the ETH-BTC correlation remained tight at around 0.76, based on data from CoinMetrics. In fact, Ethereum’s price has gained by 3.69% over the past week and considering the progress of ETH 2.0’s validator nodes, it may seem obvious that many traders are long on ETH. High...Read More
The state-owned bank, Belarusbank launched the first legal cryptocurrency exchange service in Belarus, through its partnership with White Bird, a local cryptocurrency firm. With this launch, citizens of Belarus and Russia can now buy and sell crypto. However, the bank plans to expand the list of countries whose citizens will be able to exchange cryptocurrencies...Read More
Paxos, PayPal’s liquidity provider, has seen its trading volume move up quite considerably over the past few weeks after crypto-trading went live on the platform to great acclaim. So for anyone looking to track crypto volumes going through PayPal…given Paxos (ItBit) is their liquidity provider, and the exchange was doing ~$3mln a day before, here’s...Read More
Seems like the entire world is taking notice of Bitcoin and the wider cryptocurrency market. The Central Asian country of Kyrgyzstan is the latest to do so after the National Bank of the Kyrgyz Republic (NKBR) moved to regulate cryptocurrencies, specifically, the activities of entities that provide services for the purchase and sale of cryptocurrencies...Read More
Running an ETH 2.0 validator node is a lucrative prospect, at least for ETH Maximalists. It takes 32 ETH to run one on your own. Naturally, since 32 ETH is a substantial amount, many have instead turned to pools. In fact, so far, 83,872 ETH have been staked. However, what’s interesting here is that a...Read More
Bitcoin has tapped the $16k-level twice and still, it is yet to sustain a breach or a capture of this level. What does this mean? Well, one can argue that this shows the market’s bulls are weak and ready to be farmed by the bears. “Ready to be farmed?” Yes, ready to be farmed. After...Read More
DeFi’s total market capitalization stood at $15.8 billion against Ethereum’s market capitalization of $51.8 billion, at press time. This means that as of mid-November 2020, DeFi’s market capitalization is already over 30% that of Ethereum’s and it won’t be long before it explodes to surpass ETH’s own market capitalization. Since its launch in 2015, Ethereum’s...Read More
Let’s be honest, you were more surprised than anything seeing Bitcoin trade at over $16,000. You probably thought to yourself, “How long will this last?” With the cryptocurrency trading at its highest point since January 2018, and up by over 120 percent since the beginning of the year, the sentiment is firmly bullish, but that...Read More
As Bitcoin’s price crossed $16,000 on spot exchanges, one expected that institutions would unload their bags and book profits. However, based on the Map of unspent Bitcoins from Whalemaps, inflows to whale wallets above $12,000 remain unspent. In fact, institutions seem to be buying and HODLing at the same time. The chart attached herein highlights...Read More
Bitcoin Cash (BCH), the crypto-market’s fifth-largest cryptocurrency, underwent its third hard fork today at 12:00 UTC after its network was split into two chains – Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCH ABC). This contentious hard fork arose from a dispute between BCHABC and BCHN because BCHABC wants to implement an Infrastructure Funding...Read More
