80% of institutional investors believe that the recent Coronavirus-led quantitative easing policies adopted by Central Banks and governments could lead to a rise in inflation. In the next five years, most institutions would turn to Bitcoin to hedge against currency devaluation. Based on Evertas’s recent research report on institutional investment in crypto, between now and...Read More
CEO and co-founder of Blockstack, Muneeb Ali published an earnings model in a blog today that outlined how STX holders can estimate potential earnings when Stacks 2.0 launches on mainnet. Ali added that Stacks 2.0 will continue to use the proof-of-transfer (PoX) consensus protocol, currently in use on its testnet version. Moreover, the POX algorithm...Read More
Another week has passed, and it’s safe to say it was an intense one. First things first, the major headline is that the US Commodity and Futures Trading Commission (CFTC) charged the owner-operators of 100x Group, the parent company of BitMEX, with illegally running a derivatives exchange. Needless to say, BitMEX is one of the...Read More
The current regulatory concerns around Bitcoin must be paid close attention to, especially for the individuals in the countries that have unclear regulations. Recently, the Financial Conduct Authority [FCA] banned the sale of derivatives and exchange-traded notes (ETNs) that reference certain types of crypto assets to retail consumers. This news was worrisome for many as it...Read More
Bitcoin Above $11000 Bitcoin after almost a month-long wait broke above $11000 to touch the resistance level formed surrounding $11,119. It gained almost 4.14 percent to reach this level in the past 24 hours. The digital asset has gained almost $500 in just a single day. The bunch of green candles in the 24-hour chart...Read More
Bitcoin has finally managed to surpass the resistance at $11k, at press time and was valued at $11,045. There has been a push and pull in the price of the digital asset but at the time of writing the value of the digital assets seemed to hold above the $11k, price level. Source: BTC/USD on...Read More
About 5% (or 60) employees of Coinbase have taken advantage of the “generous exit package” the exchange offered to anyone who disagreed with the company politics. According to the recent update shared by Coinbase CEO Brian Armstrong, the company executives “could have done a better job” in clarifying how the apolitical culture would work. This...Read More
The Bitcoin market seemed to be consolidating again, following the trend it last witnessed back in June-July 2020. Generally, long-term investors consider the interpretation of the market as noise, but for derivatives traders, this could be the time to pay attention as contracts roll and Options expire. The Chicago Mercantile Exchange was in the news...Read More
Leading crypto exchange, Coinbase had told its employees that they could accept the “exit package” and leave the company if they were uncomfortable with Coinbase’s “apolitical” stand. Chief Executive Officer of Coinbase, Brian Armstrong, announced today in a blog that, 60 people or “about 5% of employees” have opted to leave the company. He also...Read More
Bitcoin and Gold, just a few weeks ago, were noting what some would call “unnaturally high” levels of correlation– a figure of 73.6%. However, the said correlation soon dipped on the charts, with the BTC-Gold correlation registering a figure of -28%, at the time of writing. Source: Skew That’s not all, either, since at the...Read More
US Department of Justice’s Attorney General William P. Barr announced today the release of “Cryptocurrency: An Enforcement Framework,” a publication that outlines the “emerging threats” and enforcement challenges associated with the “increasing prevalence” and use of cryptocurrency. Attorney General William P. Barr said that the 83-page-long report, which was produced by the DoJ’s Cyber-Digital Task Force,...Read More
It is a known fact that Bitcoin has wiped the floor with all the other traditional assets in 2020. High turbulence notwithstanding, Bitcoin was still up by 48 percent at press time, a figure that was higher than Gold, the S&P 500, and WTI. Interestingly, one particular asset class has been rubbing shoulders with the...Read More
Noted on-chain market analyst Willy Woo is of the opinion that Bitcoin’s network fundamentals including blockchain data and infrastructural metrics are going pretty strong. But the BTC market has still not caught up on this ‘moon-like’ action. Willy believes it will, only next year. Bitcoin On-chain Data And Metrics From Infrastructure Players are in ‘Moon...Read More
So, MicroStrategy bought millions of dollars worth of Bitcoin, without moving the price in any direction. Isn’t that a little surprising? At least for an asset where manipulation is said to be easy and present on a huge scale. It is weird how the news of a publicly-stated company buying $425 million worth of Bitcoin...Read More
Financial services company Square has announced that it has purchased $50 million in Bitcoin. The company headed by Twitter’s Jack Dorsey, says that it believes that cryptocurrencies are an instrument of “economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. Today, @Square announced that it...Read More
Bitcoin is worth much more than what it is today. That’s not a rhetorical statement; in fact, it’s a practical one. If the metric you’re measuring Bitcoin against is potentially infinite, then to put a finite value of $10,600 on a cryptocurrency which has a fixed supply doesn’t make sense. Every fiat currency can be...Read More
Unocoin is one of the earliest exchanges to enter the Indian cryptocurrency arena in 2013. And now the crypto trading platform has received funding from billionaire and bitcoin bull Tim Draper. The Series A round which raised $5 million was led by Draper Associates. 2020 Ventures and crypto-focused VC firm XBTO Ventures also participated in...Read More
Major cryptocurrency exchange KuCoin has resumed deposits and withdrawals of some cryptocurrencies after the platform recently suffered a substantial hack. BTC, ETH, and USDT Withdrawal and Deposit Services Now Available According to an official announcement on October 7, KuCoin revealed that it reopened deposit and withdrawal functions for crypto tokens Bitcoin (BTC), Ether (ETH), and...Read More
With many speculating the future of DeFi, given the rapid growth in the ecosystem, investment firm, Pantera Capital has announced that its Digital Asset Fund will actively invest into DeFi assets more, as Pantera Capital believed that DeFi was the future of finance and the sector is expected to grow as crypto prices go up. ...Read More
Four years after the infamous Bitfinex hack that resulted in one of the largest bitcoin thefts since the Mt Gox incident in 2014, notifications published by the Whale Alert twitter account today, stated that approximately 1,190 BTC ($12,645,059) of stolen funds from the BitFinex hack in 2016 has been moved to an unknown wallet. Whale...Read More
Bitcoin has had a slow last few weeks, that’s for sure. It appears that the cryptocurrency is trading within a narrow range, unable to swing convincingly in either direction. This is reflected in its historic volatility, which has been falling quite a bit. In fact, it’s currently at a point where, usually, a huge move...Read More
BitMEX, the largest cryptocurrency derivatives exchange in the world landed in a heap of trouble with US law enforcement. One of the exchange’s co-founders and CTO, Samuel Reed was arrested, while charges of money laundering and other illegal transactions were issued against the other co-founders. The entire market’s dependence on BitMEX cannot be understated. Back...Read More
Social Capital CEO Chamath Palihapitiya doubled-down on his belief that Bitcoin investors should separate themselves from short-term price actions. He asserted that BTC operates in opposite to other financial assets and helps him sleep “soundly” at night. Palihapitiya: Bitcoin Is Fundamentally Different The former Facebook executive has been a long-time Bitcoin proponent. Earlier this year,...Read More
Have you been missing the price action in Bitcoin markets across exchanges lately? Based on WooBull’s Bitcoin volatility chart, 60-day volatility is 5.65 and 90-day volatility is 8.95. The recent drop in volatility can be attributed to the reduced inflow of Bitcoin into exchanges. Bitcoin Volatility || Source: Woobull Charts Trade volume on spot exchanges...Read More
You might have heard many crypto enthusiasts advising do not fall in FUD, just HODL your cryptocurrency. If you are a new user and just entered the space, then you might have come across the terms like FOMO, FUD, HODL. Do you ever wonder, what is HODL? Rather why it is not HOLD? Let’s go...Read More
The cryptocurrency market has come under a lot of pressure from regulators around the world. At the beginning of the final quarter, America’s Commodity Futures Trading Commission [CFTC] and federal prosecutors charged one of the largest Bitcoin trading platform BitMEX with facilitating unregistered trading among other violation. Now, the U.K. financial regulatory body, the Financial...Read More
Bitcoin is once again testing the $10,700 level of resistance after witnessing a 0.8% drop in the afternoon session. However, with an overall upward trend maintained another price surge could be expected. Dash maintained a neutral view, as consolidation possibilities became clearer from its technical indicators that may hold true for the next few days. ...Read More
The DeFi space continues to expand as the total value locked in protocols has recently almost hit $11 billion. More interestingly, BTC value locked in DeFi is also on the rise as there are currently around 141,000 bitcoins locked in various lending protocols. RSK’s infrastructure framework (RIF) has recently integrated Maker’s DAI stablecoin into its...Read More
The $3 Trillion Hedge Fund industry is likely to suffer more blow-ups than the 2008 financial crisis in the next few quarters. In the midst of the pandemic, hedge funds lost 7-8% in a month in March 2020. This drop left the 2008 crisis behind. The resulting dynamics have affected Bitcoin’s price and traders’ portfolios....Read More
When it comes to the DeFi ecosystem at large, there seems to be a lot of eagerness with regard to the growth of Bitcoin’s DeFi space and on those lines, another startup has taken up the expansion of BTC-backed DeFi products. RSK Infrastructure Framework (RIF), a Bitcoin-powered smart contract platform will make MakerDAO’s ERC-20 DAI...Read More
