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
Despite Bitcoin losing significant market share over the past six months, the world’s largest cryptocurrency continues to share a high correlation with the market’s altcoins. The same was evident when many of these altcoins fell on the back of Bitcoin’s own depreciation over the course of 1-2 October, with the likes of IOTA and CRO...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
It seems like the market is finally turning a little bullish. Bitcoin pushed its own price above $11k and other altcoins were appearing to push their respective valuations as well. Bitcoin SV has registered 3 consecutive green candles over the past three days, taking its valuation above $165. With the trend reaching a possible breakout...Read More
Most digital assets recorded positive gains on their daily charts today, as the bulls controlled the market. Bitcoin Cash and EOS remained delicately poised just under their resistance levels following a week-long consolidation. DigiByte, on the other hand, having breached its resistance was in for another possible bullish move over the weekend. Bitcoin Cash [BCH]...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
Disclaimer: The following article attempts to analyze the impact of emerging patterns on the Ethereum short-term market and its price. A sudden surge in the market yesterday pushed the price of most major digital assets higher, including Ethereum [ETH]. The boost in the price of ETH carried it from $334 to $353, and after some...Read More
In the wake of regulatory concerns, seven central banks have come together and released a report identifying the “foundational principle necessary for any publicly available CBDCs to help central banks meet their public policy objectives.” The report titled, Central bank digital currencies: foundational principles and core features, compiled by the participating banks like the Bank...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
In collaboration with the Peoples Bank of China (PBOC), Shenzhen plans to distribute $1.5 million worth of its Central Bank Digital Currency (CBDC) – the digital yuan. Adopting a promotion strategy similar to that of a surprise airdrop, the giveaway will be distributed to 50,000 recipients through a lottery system. According to reports, each distribution...Read More
Prime Trust, the API-enabled B2B financial solutions provider has announced the addition of Stellar Lumens ($XLM) to their list of supported cryptocurrencies. The addition of XLM comes in response to the overwhelming demand customers have expressed. XLM 24-hour Price Chart Source: CoinMarketCap XLM was trading at $0.073 at the time of writing, up 2.00% in...Read More
BitMEX CTO Samuel Reed, who was charged and arrested by the U.S. Department of Justice on October 1, has been released on a $5 million appearance bond. Source: USDOJ Reed, was arrested on charges of violating the Banking Secrecy Act (BSA) and “willfully failing to establish, implement, and maintain an adequate anti-money laundering (‘AML’)” at...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
Over the last one week, Ethereum registered poor daily returns that lowered the cryptocurrency’s valuation by more than 6%. The same was noted across the market after Bitcoin, the world’s largest cryptocurrency, too noted a decline on the charts. While such bearishness continued to persist, at press time, altcoins such as NEM and Zcash were...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
October hasn’t really been favorable to the digital assets industry, with many of the market’s assets struggling to keep up with bearish pressure. With Chainlink staying close to its $10-valuation on the charts, many in the community are expecting the cryptocurrency to drop further. In fact, recent analysis suggests that another breakout might take place...Read More
Ripple announced today that it has launched a new beta service dubbed Line of Credit that is available to RippleNet customers who can now use the network’s on-demand liquidity (ODL) service to source capital and initiate payments using the network’s token XRP. This would mean that Ripple’s Line of Credit would provide upfront access to...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
Solana, which offers scalable solutions to decentralized applications, today announced the launch of its cross-chain bridge, dubbed Wormhole, which connects ETH and ERC-20 tokens to the Solana blockchain’s SPL tokens. Wormhole bridge will allow DeFi developers to move tokenized assets “trustlessly” across blockchains, taking advantage of Solana’s “speed and cost” which the firm claimed was...Read More
Disclaimer: The following article is the sole opinion of the writer and should not be considered as investment advice While the collapse on 1-2 October seemed brutal for most of the market’s crypto-assets, Litecoin has continued to maintain strong sideways movement between the ranges of $47.13 and $45. In fact, while LTC has breached its resistance...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
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
Disclaimer: The following article attempts to analyze the emerging patterns in Tezos’ long-term market and its impact on the price The recent fall in Bitcoin’s price did not have much of an impact on the Tezos market as the cryptocurrency was already on a trajectory going south. The crypto-asset’s value has been crumbling since mid-August,...Read More
After months of hype and activity, the DeFi space is finally facing some tough questions. This, after the space noted major price corrections over the past week, with the top ten DeFi assets sustaining an average loss of 23.4% and losing an average value of 27.44% over the past month. Source: DeFi Pulse Here, it...Read More
Popular crypto-exchange BitMEX today announced a significant change in leadership, a step that comes over a week after the CFTC filed charges against it. According to the announcement, the changes will be made with respect to the leadership of the 100x group, the holding group for HDR Global Trading Limited, owner and operator of the...Read More
Bitcoin SV appeared to undergo a trend reversal, at press time, as its bullish price momentum pushed the cryptocurrency’s price above its immediate support and pivot levels. On the contrary, with a persistent downtrend, a bearish outlook was evident for Synthetix after it lost control of two resistance levels. Maker was at the end of...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
While under the current developments a major bearish market for digital assets may correctly identify a suppressed trading scenario for bulls, various technical indicators still suggest that a strong reversal cannot be ruled out during the course of the fourth quarter. However, altcoins like Polkadot, VeChain, and Basic Attention Token witnessed a strong descent to...Read More
