Following yesterday’s surge to about $11,500, Bitcoin has retraced slightly and trades at about $11,350. Most altcoins have also calmed after charting two consecutive days of gains. Bitcoin Steady Above $11K As reported yesterday, the primary cryptocurrency initiated an impressive leg up. Bitcoin went from about $10,900 to its new monthly high of nearly $11,500...Read More
A recent report exploring the Q3 2020 developments in the decentralized finance ecosystem confirmed the narrative that it was the best quadrant for the entire field. Additionally, it highlighted Ethereum’s massive role as the underlying technology but also broached several potential competitors, including TRON and EOS. Confirmed: DeFi Exploded In Q3 2020 The analytics company...Read More
The concept of central bank digital currency (CBDC) has progressed quite well and is becoming inevitable. It is a new form of fiat currencies issued by central banks in digital form using centralized or permissioned distributed ledgers. Many countries are researching or are already closer to launching a national digital currency. But a joint paper...Read More
The cryptocurrency industry has no doubt been maturing over the past couple of years, especially after the parabolic market development in 2017. The underlying technology behind cryptocurrencies – blockchain (or distributed ledger) has become more appealing to a range of corporations for various reasons. CryptoPotato recently reported that the tech mogul IBM has partnered with...Read More
Bitcoin took a break from trading during the month of September, with relatively low volatility. As shown on the following 4-hour chart, the marked symmetrical triangle was basically the story of September: Started with a massive dump and a slow consolidation, since then, around $10,600. As can be seen below, Thursday signaled a breakout –...Read More
After trading below $11,000 for weeks, Bitcoin finally broke above that psychological level with a 5% increase in the past 24 hours. The altcoins have come along for the ride, and the market cap has jumped by nearly $20 billion since yesterday. Bitcoin Breaks Above $11,000 Bitcoin was steadily increasing in the past few days...Read More
As a part of an active Bitcoin and cryptocurrency education/awareness campaign, 350 members of the Spanish parliament (read deputies of Congress) have received a euro worth of BTC. This move mirrors the ‘Crypto for Congress Educational Initiative’ launched by the Washington-based Chamber of Digital Commerce to acquaint Members of the United States Congress with blockchain...Read More
For a lot of us, prison is a dark and scary place where no one wants to be… But we are not John McAfee. The software developer, tax evader, crypto-shiller, drugs user, whale-fucker, former US presidential candidate and crypto-shiller sent a statement to his followers sharing his experience in the Spanish prison after his arrest....Read More
Australian multi-millionaire and electronics entrepreneur Dick Smith has threatened to sue The Guardian Australia. Smith has alleged that the trustworthy media outlet has hosted fraudulent ads with fake interviews of him promoting a phony Bitcoin scheme. Aussie Entrepreneur Threatens The Guardian Impersonation scams are among the most perilous threats within the cryptocurrency community. Typically, the...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
Bitcoin Bitcoin saw a 5.6% price increase over the past seven days as it finally breaks above the $11,000. The cryptocurrency was trading within a symmetrical triangle pattern since mid-September and struggled to break above this consolidation until yesterday. BTC was trading at the 100-days EMA last Friday as it rebounded from here and started...Read More
Apart from BNB, Changpeng Zhao, the founder and CEO of cryptocurrency exchange heavyweight Binance has another reason to smile. Yesterday the Binance Smart Chain (BSC) handled 21 percent of Ethereum transactions, at 0.6 percent of the gas fees charged for transfers on the latter. This makes BSC about 35 times cheaper, he said. Also, CZ...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
Bitcoin’s hashrate, or computing horsepower, has hit its highest ever level indicating that the network has never been in better shape in terms of security. Hashrate High The new milestone of 170 exahashes per second was noted by on-chain analytics provider Glassnode which added that it is a 40% increase since the halving in May....Read More
A few days after being charged and arrested by the US Department of Justice, BitMEX CTO Samuel Reed has been released on a $5 million appearance bond. His release came with two conditions. Those are: Reed has to appear for court proceedings, and if convicted, to “surrender to serve a sentence that the court may...Read More
Following yesterday’s announcement that Square has purchased $50 million worth of Bitcoin, the asset has reacted with a significant price jump to $10,900. Most altcoins have followed suit and the cryptocurrency market cap has increased by $12 billion. Bitcoin To $10,900 Due To Square? Bitcoin was in a bit of a pickle in the past...Read More
The United States Department of Justice is focusing its attention on the crypto-verse and how to control that ecosystem. On October 8, 2020, the US Attorney General released a report talking about the dangers associated with the adoption of cryptocurrencies and the expectations of the DOJ in this regard. The “Cryptocurrency Enforcement Framework” is an...Read More
CorionX, a platform designed to incentivize and promote the global adoption of stablecoins and decentralized finance platforms, has announced it will be partnering with Syscoin to help tackle two of the biggest barriers to entry to DeFi — awareness and cost. Breaking Down Barriers to Entry As part of the partnership, CorionX will begin using...Read More
Bitcoin’s price has managed to climb $300 today and break bullish out of a 19-day consolidation pattern (white dashed lines). This is pretty surprising considering the recent Kucoin hack, BitMEX investigation from the CFTC, and the potential for a second wave of lockdowns worldwide. In just 6 hours, $12 billion flooded back into the crypto...Read More
The Electric Vehicle Grid Integration (EVGI) Working Group of the Mobility Open Blockchain Initiative (MOBI) has developed and launched a global standard for the automotive industry integrating blockchain into a decentralized vehicle charging system. The statement clarified that the standard will initially focus on three main use case areas: peer-to-peer (P2P) applications, tokenized carbon credits...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
ETH/USD – Short-Term Consolidation Continues Key Support Levels: $336, $324, $317.Key Resistance Levels: $342, $365, $378 Ethereum has been trapped in a short-term symmetrical triangle pattern since mid-September. The coin failed to break above the upper boundary on Tuesday as it headed lower into the 100-days EMA. The support there has held over the past...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
Before implementing the ban on cryptocurrency derivatives sales in the UK for retail investors, the FCA asked over 500 firms, trade bodies, and competent authorities on their opinion. Interestingly, the results decisively concluded that 97% of all participants didn’t agree with the prohibition. 97% Oppose The FCA Crypto Derivatives Ban UK’s watchdog, the Financial Conduct...Read More
Following the fiasco between the United States Commodity and Futures Trading Commission and BitMEX – one of the world’s largest crypto derivatives platform, there will be major shifts in the executive management of the latter. As per an official announcement published today, October 8th, Arthur Hayes, the well-known CEO of the company operating BitMEX, will...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
Bitcoin has charted minor gains in the past 24 hours by following Wall Street once again. Most large-cap altcoins have remained calm with Ethereum hovering around $340 and Ripple trading at $0.245. Bitcoin Steadily Follows US Stocks The primary cryptocurrency headed south yesterday and dipped to $10,525. Although Bitcoin started recovering rather rapidly, it dropped...Read More
Many of the DeFi and crypto industry’s top influencers and personalities have waded in with their take on the highly charged subject. The ethos behind DeFi is largely to remove the controlling element of a CEO, or board of directors, that dictate the movements of centralized finance such as crypto exchanges and banks. From a...Read More
The government of Venezuela does not know what else to do to control its economy and is trying to save its financial life by doing what all the world governments are doing: printing more money… A lot of money. Sources close to the Venezuelan government revealed that the country’s Central Bank has just bought 71...Read More
