$ 41,073.00 1.98%
$ 2,651.52 4.63%
$ 1.00 0.02%
$ 340.46 1.08%
$ 1.35 1.71%
$ 0.757401 0.28%
$ 1.00 0.10%
$ 0.208050 2.81%
$ 19.18 13.00%
$ 0.998162 0.39%

Latest News

  • DeFi in style? Here’s how women can break into the game News - 12 hours ago
    As hard as it is for women to enter the DeFi space, several notable women give their perspectives on their goals and aspirations in the industry. There are many things to think about when entering this field: what inspires someone to do so; how blockchain technology, crypto and DeFi match with your overall personal or professional philosophy; and how one can change the life of others through promoting DeFi adoption, breaking the stigma surrounding this industry. Have you ever considered entering the decentralized world of blockchain technology? Is there anything holding you back?In the DeFi industry, the above questions could be very intimidating, but the many women who have cracked into the space are changing the way decentralization is perceived. Getting women involved in an industry that has a preconceived idea of who should be the leaders is difficult, but women every day are breaking the already-established boundaries to perpetuate the industry in all aspects, including education, technological advancements and accessibility. Their drive to change how education and implementation surrounding accessible finance reaches the masses will hopefully inspire some who have just dipped their toes in this seemingly cold water, showing that the water might actually be warmer than it looks. Figure out your career goalsFor many, the crypto and DeFi industries line up with their career and personal goals and can be used to their advantage professionally. Even if the world of blockchain and crypto falls upon you by accident, this could be an opportunity to explore it and discover how your experiences could benefit from blockchain and DeFi, or vice versa. For example, while working at a central bank, UNICEF blockchain lead Christina Lomazzo used her institutional perspective to develop a connection. “I’ve been intrigued by the concept because of its power to redistribute traditional power dynamics and create opportunities for groups traditionally excluded from systems,” she told Cointelegraph, adding:“I stayed in the industry because blockchain and crypto presented an opportunity to work with a foundational technology that offered many ways that systems could be rethought and redesigned.” Working from the inside and trying to change the traditional power dynamic is a great example of how to use your previously acquired knowledge in DeFi. Changing the process of one institution is sure to make significant changes, profoundly developing the need to push boundaries of the industry and your career. If one of your interests aligns with education, then perhaps a great thing to think about is how to organize meetups with the goal of educating. Elena Silenikova, co-founder of CryptoChicks, did just that. Studying Ethereum has always been a passion of hers, and after trying and successfully troubleshooting it on Windows, she decided to organize a meetup with other women to discuss Ethereum and share what they know. Silenikova explained:“We eventually created a meetup group for women to teach them about different blockchains, various wallets and, most importantly, about the security precautions they need to pay attention to while working with crypto. Our meetup group grew; we started doing bigger events and ended up organizing CryptoChicks worldwide blockchain hackathon for women.”From all over the world, women were traveling to Toronto for hackathons; major companies such as Deloitte and Microsoft were inviting them for seminars; and even women-led educational groups were asking for a CryptoChicks chapter to be established in various countries around the world. Silenikova believes that “many women needed help turning their projects into startups after these hackathons.” A passion for education is so important to the industry, especially in a space that feels like a closed-off subculture, and that’s exactly what SheFi founder Maggie Love thought. After hearing about blockchain in a meeting, Love decided to read up on the topic, and that’s how she decided that this industry was for her:“I wanted to figure out a way to kind of create a model like [the NCAA playoff bracket] or to get women excited to play with money in some sort of way and put it in DeFi protocols. There’s a problem that no women are putting their money in DeFi protocols and experimenting with them and earning money on their money.” Knowing your strengths and interests is key to understanding how you can utilize your past experiences within the DeFi and crypto space, especially if there is a begging call that is pushing you toward the industry. Love added, “I was curious. I read about [blockchain], then I had to be a part of it. It was one of the best decisions I’ve made in many ways to date.”Why was crypto created?Well-known within the community, the creator(s) of Bitcoin and a co-founder of Ethereum, two established cryptocurrencies defining crypto and thus DeFi in ways that complement each other, created a new industry that many did not realize its full potential and usefulness — until it happened to be exactly what they were looking for.After noticing how this industry has so many different ways for people to “poke at the edges” of creativity, Love believes that there is always a way to expand what is there, to push the limits of this boundless industry: “​​With Satoshi and with Buterin, they reimagined the way that the world could be organized for value creation — whether it is money, whether it is a metaverse or in art and creators — in the way that they earn money and get discovered. And so, it’s hard not to live in this world of new imagination once you’re introduced to it.” With SheFi, Love is able to continue to express the creativity and imagination from the founders of the space without adhering to the perceived status quo of the industry. She added, “Decentralization became possible only because of Satoshi and Vitalik’s work, and now would be the time when people can benefit from it on many levels.” For Silenikova, it was important for her to start something that is “building borderless businesses on a scale, freedom of implementing your hopes and dreams without any fear that someone can deny, prohibit or…
  • Bitcoin sellers in 'disbelief' or BTC price wouldn't still be at $41K — Analyst News - 12 hours ago
    A small number of old hands choose to cover all their bases as BTC/USD clinches a July close above $41,000. Bitcoin (BTC) closed July above $41,000 in a “bullish engulfing” candle that dramatically upends its previous downtrend.In a tweet on Aug. 1, investor and entrepreneur Alistair Milne joined many celebrating a classic return to form for BTC price action.Bitcoin refuses to flip bearishAfter seeing three straight monthly red candles in a row, BTC/USD held onto late gains to post a monthly close that few had anticipated.Despite the dip to $29,000, bears failed to stay in the driving seat as July drew to a close as resistance levels fell and sentiment improved. “Bullish engulfing on the monthly chart for Bitcoin,” Milne summarized. A bullish engulfing pattern is a chart pattern that forms when a small red candle is followed by a large green candle, i.e. July, the body of which completely covers or engulfs the body of the previous candle (June).BTC/USD 1-month candle chart (Bitstamp). Source: TradingViewThe move up — and its staying power — have been so surprising that even seasoned hodlers appear confused about what to do next.On-chain data shows that some long-term holders (LTHs) are in fact selling as BTC/USD rises, something that analyst Lex Moskovski believes corresponds to the “disbelief” stage of a classic market cycle.Moskovski highlighted the long-term holder spent output profit ratio indicator (LTH-SOPR), which this weekend hit its lowest levels in 2021.SOPR looks at the value of coins moved in a particular time period to get an impression of profitability of coins being sold. A downtrend towards the neutral 1 value, host Glassnode explains, suggests that profitability among the coins in question is low.”Some long-term bitcoin holders are selling into this bounce with minimal profit as indicated by LTH-SOPR hitting this year’s low for two days straight,” Moskovski commented. “This is one of the reasons we’re still at 41k. Disbelief.”Bitcoin LTH-SOPR annotated chart. Source: Lex Moskovski/ Twitter”Like clockwork”Bulls meanwhile continue to look for triggers that could send BTC/USD past $42,000 resistance for good, this having seen two tests in the past 24 hours.Related: Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time highBeyond there, as Cointelegraph noted, little lies in the way until $45,000 and $47,000.Equally enthusiastic for upside on Saturday was PlanB, the creator of the stock-to-flow price model family, who described Bitcoin’s July close as being a recovery “like clockwork.”#bitcoin July closing price $41,490 … it bounced from the lows, like clockwork— PlanB (@100trillionUSD) August 1, 2021 Stock-to-flow, while currently demanding a Bitcoin price of nearly $100,000, remains valid, with PlanB giving a minimum August close requirement of $47,000.
  • Digitizing charity: We can do better at doing good News - 14 hours ago
    Blockchain technology won’t just make online donations easier, it will pave the way for exciting new forms of charity fundraising. Charity fundraising risks being left behind in the shift to online activity. But taking inspiration from the COVID-19 pandemic trends, and new payment technology, could open doors.Change comes whether you’re ready or not, but being ready means you can seize the opportunity. The past year has accelerated the pace of digital transformation dramatically — sure, personal contact was already moving online, and contactless payments were slowly replacing cash, but the pandemic did not so much push as shove the world faster and farther than anyone expected. This creates specific challenges for the nonprofit sector — and with those, some exciting possibilities.Related: Philanthropy: A missing catalyst of blockchain adoptionBring the message homeCharity events and street fundraising — two major traditional revenue streams — have been sharply curtailed by the pandemic. However, lockdown has unlocked some inspirational creative thinking, such as the 2.6 Challenge, in which sports and fundraising agencies asked the public to come up with their own private challenges to fill the gap left by the London Marathon. The brilliance of such personal fundraising efforts is that, well, they’re personal.Consider how Captain Tom Moore raised over 32 million euros ($44 million) by walking around his garden! This shows rather dramatically how an individual effort can drive far stronger engagement than might be achieved by, say, a marathon team: When supporters can see the motivation behind each challenge, they are inspired. It’s all about storytelling and authenticity. To stand out among a host of issues vying for public attention, and to restore the path to the positive feelings of giving, it’s important to reinforce the “why” — keep it personal, keep it relatable.But while big moments like this capture the imagination and attract a flood of impulse contributions, charities need repeat donations and peer-to-peer fundraising for their financial health. It is crucial that organizations convert one-time donors into engaged supporters who are committed to sharing their message.Related: The future of philanthropy lies in blockchain technologyOnline fundraising can be particularly effective at this task, thanks to the power of storytelling. According to research, 57% of the people who watch a fundraising video go on to make a donation, but think about how much more could be done. A charity or activist website can become a place for helpers and the helped alike to share their experiences, their motivations and the impact of their actions. How can individual online actions translate into greater change? How can online social tools build community? And how can we mobilize a demographic that no longer trusts established groups to do the right thing once the donations have been made, or accepts that the agenda should be set only by the biggest donors?Transparency and accountability are in increasing demand in all aspects of life. So it is with social causes: Young people want to know they make a difference. Show them a track record of effective action coupled with responsible stewardship, and they will spread the word for you. Explain what resources are needed, and how they will and have been put to use. Groups who make use of social networks and universal tools that are easy to access and understand will be best placed to win the trust and loyalty of the generations that are coming of age now.Embedded payments open new doorsLet’s talk about the nuts and bolts of payments. The actual process of making a donation online can be a significant hurdle. Donors usually need to complete a detailed form, providing their name and several methods of contact, even before going into the details of payment. A moment of generosity and a true desire to participate might sour as more and more demands are made of people who imagine that their personal details are being stockpiled in a database.Blockchain technology could simplify this step dramatically. If a charity website implemented a micropayment layer that allowed donors to give any amount with the click of a button — no forms to fill, no personal data to give up — wouldn’t you expect that to unlock goodwill, not to mention giving? This is a real possibility. Once the tech has gained widespread acceptance, it won’t just make online donations easier, it will pave the way for exciting new forms of fundraising.Remember the Ice Bucket Challenge? Donations from that social media phenomenon reached $115 million, enabling the beneficiary, the ALS Association, to nearly double its funding for research into the disease. During lockdown, TikTok and Instagram challenges spread like wildfire, although few were linked to a cause. Imagine what might be achieved if you could craft a viral social media challenge that harnessed that energy, tied it to an action that held meaning — and embedded the donation mechanism directly in the posts created. If viewers were asked to donate a few pennies to watch the video, and a few pennies more to upload their own, viral campaigns could achieve more than just spreading awareness.The trivia game Freerice has raised around $1.4 million (through advertising) for the United Nations World Food Program — it works because players are motivated partly by the addictiveness of the simple game but also by the sense of doing good. Making giving easy through an embedded, decentralized micropayment system could be deployed to combine small donations to fund any manner of positive, transparent, effective efforts. One could even imagine a free marketplace of information that drives funds toward the most valued causes.Related: Your crypto taxes can be donated to charity insteadWhat can you offer?Fundraisers need to employ some sharp marketing thinking to broaden their revenue base. Asking for donations, in many ways across multiple platforms, is a must. But apply the bake sale principle: What can you give, in order to get?Any nonprofit is likely to have specialist knowledge. If it can leverage that to create an online course or e-book, or offer expert lectures, that’s a valuable product. Online donors typically give…
  • 3 reasons why Ethereum price might not hit $5,000 anytime soon News - 22 hours ago
    Ethereum price might be bullish in the short term but there are a handful of factors that could keep the price pinned in its current range. Ether (ETH) price has been in a downward spiral ever since the Ethereum co-founder Vitalik Buterin presented at the StartmeupHK Festival 2021. In a fireside chat session on May 27, Vitalik stated that several internal team conflicts caused the Proof-of-Stake migration to delay its launch.As reported by Cointelegraph, ‘Phase One,’ which introduces scalability through sharding, has been postponed to 2022. Furthermore, DeFi’s inherently decentralized nature might not be entirely beneficial because the sharding-style processing would need to run transactions through a relay chain.Ether price in USD at Coinbase. Source: TradingViewIt’s impossible to pinpoint the reason behind Ether’s sharp fall from its all-time high, but the surging gas fees certainly impacted investors’ expectations. Not only did it made evident how limited the network was, but it also incentivized traders to experiment with alternative networks like the Binance Smart Chain (BSC) and Polygon’s layer-2 solution. Ethereum 7-day average gas fees in USD. Source: CoinMetricsThe chart above shows that the $45 average gas fee took place a whole month after the Berlin upgrade went live on April 15. The consensus in the Ethereum community was that Berlin was less impactful in the short term but  paved the way for the awaited London hard fork’s EIP-1559 protocol on Aug. 4.This takes us to one of the 3 factors that could negatively impact Ether’s price in the short term. London Fork delayThe Ethereum London hard fork is part of the roadmap to the final Eth2 release in 2022. The long-awaited update is scheduled for Aug. 4 but has been delayed already as the previous schedule mentioned late July.Miners will be the most affected by the EIP-1159 proposal, which aims to burn part of the fees generated on the Ethereum blockchain, hence reducing their revenue. Furthermore, EIP-3554 introduces an incremental difficulty adjustment that incentivizes the migration to the new Proof-of-Stake blockchain.Ethereum developers’ delivery track record also does not inspire confidence. If a partial upgrade were to take place and the more controversial changes were delayed, Ether price could slide as a portion of the current rally is build on the hype surrounding the hardfork.Miner exodusThis time around, the main concern isn’t technical but social. Once it becomes clear for Ethereum miners that their revenue source will be gradually cut off, it is a matter of time until some competing network benefits.Even though most smart contract blockchains have been designed for the proof of stake consensus model, some lesser-known projects could change their algorithm to support Ethash mining.Analysts should not discard the possibility that Binance Chain or Solana could implement an additional security layer using the extra hashing power caused by an Ethereum miner exodus. Although this scenario is distant, these movements would undoubtedly put pressure on Ether price.Multi-chain dAppsThe longer it takes for Eth2 to be fully implemented and for dApps to upgrade their code to support parallel processing (shardin) capabilities, the higher the incentives for adding multi-chain support.Curve and AAVE, the two leading DeFi protocols by total value locked, have both added support for blockchains other than Ethereum. Meanwhile, Polygon holds $550 million worth of Curve contracts and AAVE another $1.8 billion, according to data from DeFi Llama.In the end, the most likely “Ethereum killer” would be the network itself because postponing the scaling solution would push users and dApps to alternative solutions. At the same time, the migration to PoS opens room to strengthen competing blockchains.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
  • Pro traders look for this classic pattern to spot Bitcoin price reversals News - 1 day ago
    Crypto and stock traders view the inverse head-and-shoulders pattern as an early signal that a bullish trend reversal is in the making. Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction. When prices are falling, the sentiment is negative and fear is at extreme levels, but it’s at times like these that the inverse head and shoulders (IHS) pattern can appear.The (IHS) pattern is similar in construction to the regular H&S top pattern, but the formation is inverted. On completion, the (IHS) pattern signals an end of the downtrend and the start of a new uptrend. Inverse head and shoulders basicsThe (IHS) pattern is a reversal setup that forms after a downtrend. It has a head, a left shoulder and a right shoulder that are upside down and placed below a neckline. A breakout and close above the neckline completes the setup, indicating that the downtrend has reversed.Head-and-shoulders bottom pattern. Source: TradingViewAs shown above, the asset is in a downtrend but after a significant decline, value buyers believe the price has reached attractive levels and will start bottom fishing. When demand exceeds supply, the asset forms the first trough from the left shoulder and the price starts a relief rally.In a downtrend, traders sell on rallies. The bears sell aggressively after the pullback and the price dips below the first trough, making a lower low. However, bears are unable to capitalize on this weakness and resume the downtrend. The bulls buy this dip and start a relief rally, forming the head of the pattern. As the price nears the previous peak where the rally had stalled, the bears again step in.That starts the decline, culminating in the formation of the third trough, which is arrested almost in line with the first trough as buyers anticipate a turnaround and purchase aggressively. This forms the right shoulder of the setup. The price turns up and this time, the bulls manage to push the price above the neckline, completing the pattern.The neckline thereafter becomes the new floor as traders buy the dip to this support. This signals the start of a new uptrend. Identifying a new uptrend with the (IHS) patternBTC/USDT daily chart. Source: TradingViewBitcoin (BTC) had been in a downtrend since forming a local top at $13,970 on June 26, 2019. The buyers stepped in and arrested the decline in the $7,000 to $6,500 support zone, forming the left shoulder of the (IHS) pattern. This started a relief rally that pushed the price to $10,450. At this level, short-term bulls booked profits and bears initiated short positions, aiming to resume the downtrend.Aggressive selling broke the support at $6,500 and the Bitcoin/Tether (USDT) pair plunged to $3,782.13 on March 13, 2020. The bulls viewed this fall as a buying opportunity and that started a strong relief rally, which reached close to $10,450. This second trough formed the head of the setup.The right shoulder was shallow because the selling pressure was reduced and bulls did not wait for a deeper correction to buy. Finally, the bulls pushed the price above the neckline on July 27, completing the (IHS) pattern.The bears tried to trap the bulls and they pulled the price back to the neckline. Although the price dipped just below the neckline, traders did not allow the pair to sustain below $10,000. This suggested a change in sentiment. The bullish momentum picked up as buyers pushed the price above $12,500.How to calculate the pattern target of a IHS setupBTC/USDT daily chart. Source: TradingViewTo calculate the minimum target objective of the (IHS) pattern, calculate the depth from the neckline to the lowest point, forming the head. In the above example, the neckline is around $10,450, and subtracting the lowest point at $3,782.13 gives a depth of $6,667.87.This value is then added to the breakout level, which in the above example, is near $10,550. This gives a target objective at $17,217.87. When a trend changes from down to up, it may fall short or exceed the target objective. Therefore, traders should use the target as a guide and not dump their positions just because the level has been reached. Patience pays o because sometimes the pattern failsNo pattern succeeds at every breakout and traders should wait for the setup to complete before initiating the trades. Sometimes, the pattern structure forms but the breakout does not happen. Traders who preempt the completion of the pattern and initiate trades get trapped. LINK/USDT daily chart. Source: TradingViewFor example, Chainlink’s LINK topped out at $4.58 on June 29, 2019, and started a correction. The buyers attempted to stall the decline in the $2.20 to $2.00 zone. This formed an (IHS) pattern with a head and two shoulders as can be seen in the chart above.Although the price reached the neckline on Aug. 19, 2019, the buyers could not push the price above it. Due to this, the pattern did not complete and the buy signal did not trigger.The LINK/USDT pair turned down from the neckline and broke below the head of the setup at $1.96, invalidating the pattern. This trapped traders who may have purchased in anticipation of a trend reversal.Key takeawaysThe (IHS) pattern could be a useful tool for traders to jump on a new uptrend as it is getting started. There are a few important points to remember while using this setup.Traders should wait for the pattern to complete, which happens after the price breaks and closes above the neckline, before initiating any long positions. A breakout of the neckline, which is on above-average volume, is more likely to result in a new uptrend compared to a breakout that happens on low volumes.When a trend reverses, it generally continues for a long time. Therefore, traders should not be in a hurry to dump positions only because the pattern target has been met. At other times, the pattern completes but quickly reverses direction and the price plummets. Traders…
  • Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC despite losses, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31 News - 1 day ago
    Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Amazon plans to accept Bitcoin payments this year, claims insiderThe crypto community was going wild at the beginning of this week after rumors circulated that Amazon was planning to accept Bitcoin payments.The rumors started after Amazon posted a job opening for a digital currency and blockchain product lead on July 22. Four days later, an anonymous source within Amazon reportedly told London business newspaper City A.M. that the e-commerce giant was planning to start accepting Bitcoin (BTC) payments by the end of 2021.This isnt just going through the motions to set up cryptocurrency payment solutions at some point in the future this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work, the source told City A.M., according to a report published on Sunday.Chinese crypto journalist Colin Wu attributed Mondays surging market action, during which Bitcoin gained roughly 15% in less than three hours, to Amazons rumored plans.How wrong that very self-assured sounding quote from an unnamed source turned out to be after the multinational giant refuted the speculation two days later.Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true, a spokesperson said. Bitcoin struggles at $40K after most confusing Jerome Powell press conferenceBitcoin rose above $40,000 on July 29, a day after the Federal Reserve hinted that it was getting closer to winding down its asset purchasing program that has boosted the economic recovery of the United States.The digital gold previously approached $41,000 ahead of the critical Fed update. Unsurprisingly, it started losing upward momentum after the Federal Open Market Committee released its policy statement, followed by a press conference helmed by the Fed’s chairman, Jerome Powell.Powell had previously said that the Fed’s asset purchases would continue until it sees substantial further progress in the U.S. economic recovery. However, for a while, it was unspecified as to what that actually meant, and Powell finally cleared that up after being questioned in a July 28 press conference.Turns out that substantial further progress means strong labor numbers and gains towards maximum employment.Maximum employment refers to the highest level of achievable employment that the economy can sustain while maintaining a stable inflation rate. Given the rise of inflation and the decline of jobs due to the pandemic, the Feds maximum employment targets may need further clarification.BTC investors have been closely monitoring how soon the central bank might unwind its $120-billion-per-month bond-buying program due to its role in aiding the Bitcoin bull market. Binance cuts withdrawal limits, rolls out tax reporting toolFollowing increased scrutiny aimed at Binance from governments and financial institutions across the globe, the worlds biggest crypto exchange has been working on regulatory compliance.In the latest attempt to maintain dialogue with global regulators, Binance introduced withdrawal limits and a new tax reporting system.The company officially announced on July 27 a major update to its Know Your Customer policies, significantly reducing maximum withdrawal amounts for users who have not completed full identity verification.Effective from the date of the announcement, new Binance accounts whose users have completed only basic account verifications will be unable to withdraw more than 0.06 Bitcoin per day, worth roughly $2,329 at the time of writing. Previously, the maximum daily withdrawal amount was capped at 2 BTC, or about $77,661.On July 30, the platform also announced that it will be shutting down its crypto derivatives trading for customers across Europe, first starting with Germany, Italy and the Netherlands.This week, Changpeng Zhao, the CEO and founder of Binance, said he wanted the crypto exchange to work with local regulators as it establishes regional headquarters.Zhao, also known as CZ, hinted that Binance would depart from its decentralized approach to finance and that wanted the exchange to coordinate with regulators as the company expands.We want to be licensed everywhere, CZ said. From now on, were going to be a financial institution. MicroStrategy pledges to buy more BTC despite paper loss on its holdings of $424.8M in Q2MicroStrategy pledged to buy more Bitcoin despite reporting impairment losses of $424.8 million in Q2, after it stated that it was pleased by the results of its digital asset strategy in its July 29 Q2 report.At a first glance, it appeared that MicroStrategy had lost the plot, as the Q2 report showed that as of June 30, MicroStrategy held an approximate 105,085 BTC with a carrying value of $2.051 billion, at an impairment loss of $689.6 million since acquisition. The average carrying amount per Bitcoin was an estimated $19,518.Earlier this week Elon Musks Tesla also published a Q2 report which showed a $23 million impairment loss on its Bitcoin holdings.As both firms categorize Bitcoin as an intangible asset, accounting rules mandate that they must report an impairment loss when the assets price drops below its cost basis. However, they are not required to report price appreciation in the specified asset until the position is realized through a sale.The digital asset figures were calculated using Generally Accepted Accounting Principles (GAAP) a collection of commonly accepted accounting rules used for financial reporting. The firm also provided non-GAAP calculations, which in this report exclude the impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.The non-GAAP figures paint a different picture for MicroStrategys digital asset holdings, with the BTC cost basis at $2.741 billion but its market value is $3.653 billion, which reflects an average cost per BTC at $26,080 and a market price of $34,763 as of June 30.This may be the reason why MicroStrategy CEO Michael Saylor continues to double down on BTC and pursue the hodl modl. PayPal set to launch crypto trading in the UK and may embrace DeFiOn July 30, it was revealed that global payments platform PayPal is looking to expand its crypto trading…
  • German law allowing institutional funds to hold crypto comes into effect Aug. 2 News - 1 day ago
    As much as $415 billion worth of investments could flow into cryptocurrencies as new laws governing German Spezialfonds go into effect. Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin (BTC) and other crypto assets by the nation’s pension funds. As Bloomberg reports, the new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers. Spezialfonds currently manage about $2.1 trillion, or 1.8 trillion euros, worth of assets. Related: Hedge funds see the crypto market decline as an investment opportunityTim Kreutzmann, who works for German investment fund association BVI, told Bloomberg that most funds will likely stay well below the 20% mark initially, explaining:“On the one hand, institutional investors such as insurers have strict regulatory requirements for their investment strategies. And on the other hand, they must also want to invest in crypto.”The new rule, which was passed in early July, represents an important evolution in how German lawmakers govern digital assets. Germany’s Federal Financial Supervisory Authority, better known as BaFin, continues to urge caution with respect to digital-asset investing. At the same time, the financial watchdog encourages blockchain innovation in the country. Germany first embarked on a comprehensive blockchain strategy in 2019, promoting 44 adoption measures that are set to be realized by the end of 2021. The new approach to blockchain and crypto also introduced measures that would make it easier for investors to access digital investments. The nation has also become a leading market for cryptocurrency exchange-traded products, or ETPs. As Cointelegraph reported, investment product issuer 21Shares has partnered with German brokerage comdirect to provide crypto-focused ETPs to nearly 3 million customers. Related: Binance to shut down crypto derivatives trading in Europe
  • Bitcoin 'supercycle' sets up Q4 BTC price top as illiquid supply hits all-time high News - 1 day ago
    Recent events mean that a Q4 “blow-off top” is now back on the menu as BTC price recovery clings to its 23% weekly gains. Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing.As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.”Bulls come out for 2021 closeBitcoin has been busy repairing the impact of the China miner rout since mid May, but last week’s price advances were stronger than most anticipatedRelated: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rallyRather than suffer a serious dip, BTC price action has held onto its gains, which at the time of writing total 23% in a week.What seemed all but impossible just seven days ago is now flavor of the month among an increasing portion of the analytical community.“History doesn’t repeat itself but it often rhymes” #bitcoinA repeat would be a Q4 blow off top. New ATH’s into 2022 seem more likely. Super cycle/last cycle will depend on what happens in 2023 IMO.— ChartsBTC (@ChartsBtc) July 31, 2021 “Following a troubling three months of news and price action, bitcoin went on to print five green monthly candles in a row and went up ~10x in the second half of 2013,” Jeff Ross, founder and CEO of Vailshire Capital, said in Twitter comments Saturday. “I still contend that 2021 will behave in similar fashion.”BTC/USD 1-month annotated candle chart. Source: Jeff Ross/ TwitterWith its latest uptick, meanwhile, BTC/USD broke through its 21-week exponential moving average, something which analyst Rekt Capital described as a “time-tested bull market indicator.”The supply shock is backWhile Ross added that such a prediction was “just a guess,” he has an increasing number of on-chain indicators to support him.Hash rate is back above 100 exahashes per second (EH/s) after bottoming at 83 EH/s, while difficulty saw its first positive readjustment since the May price crash on Saturday.Investor behavior further mimics the change in sentiment. Strong hodlers with little to no history of selling their BTC are now back in control at levels never seen before andabsent since Bitcoin’s current all-time high of $64,500 in April.”This is very bullish,” Lex Moskovski, chief investment officer of Moskovski Capital, summarized alongside an accompanying chart from Glassnode. It showed hodler conviction in terms of an increasing amount of the BTC supply becoming illiquid — taken off the market.Bitcoin illiquid supply annotated chart. Source: Lex Moskovski/ Twitter”Bitcoin ‘supply shock’ is now at levels that previously priced Bitcoin at $53K,” fellow analyst William Clemente commented on the same data. “Consolidation after 10 straight green days is very reasonable but still remain bullish over the coming weeks.”
  • If you have a Bitcoin miner, turn it on News - 1 day ago
    The opportunity in Bitcoin mining has never looked better, and the U.S. has the infrastructure to take the chance. In the last few weeks, the Bitcoin (BTC) mining market has experienced a black swan event, leading to a lot of uncertainty and confusion surrounding the future of the market. This is why I felt it was right to give the public a quick update and explain why it’s a fantastic time for Bitcoin mining in the United States.Bitcoin miners are rewarded Bitcoin for securing the network and for each block they mine. As more miners participate, the difficulty rate increases and the reward for each individual miner’s security contribution decreases. And vice versa, when fewer miners are participating, the difficulty rate decreases and the reward for each miner’s contribution increases. Understanding this is key as to why this is an exciting time to get into mining.Related: A trade war misstep? China is vacating crypto battlefield to US banksRecently, we have experienced a historic decrease in the difficulty rate. This chart shows the initial impact of Chinese miners being forced to shut down and move out of China. Related: China crackdown shows industrial Bitcoin mining a problem for decentralizationThere are many potential reasons why this occurred, but the net result is that an exodus of Chinese miners and their equipment has begun. As of July 2, the rate was adjusted by -27.94 percent. It was the fourth negative adjustment that happened in a row, “with the difficulty rate almost halving since mid-May.” Let’s take a look at the most recent block time intervals.Even with record-high Bitcoin prices, we are still anticipating additional rate decreases in the near future.However, the difficulty decrease wasn’t over at that point, and with the additional drop of over 27% in early July, the volatility is still coming as the network catches up to the effects of all these miners going offline. These events have caused a lot of dramatic and quick changes to the crypto mining market, but their impacts can be boiled down to three major changes:There is a shortage of low-cost electricity mining locations and power infrastructure in the market. There’s simply not enough infrastructure to absorb the demand coming from Chinese miners.Equipment prices are dropping fast and profitability is increasing for miners. We estimate that equipment prices will fall to all-time lows given the flood of equipment, while mining profitability soars. As a result, we estimate mining profitability will increase by 35% after the difficulty adjustment.Cheap power locations can take a year or more to negotiate, contract and develop. Given these circumstances, current operators have a unique opportunity because they already have established resources and partnerships that they can utilize.The last time that the difficulty rate was around 15 trillion was in January 2020, with Bitcoin being worth only $7,000. Currently, the price of BTC is around $32,000, more than four times higher. With low-priced hardware for mining and the high price of Bitcoin, the opportunity in Bitcoin mining has never looked better. Right now, it’s not about the mining equipment, it’s more about the infrastructure.As all investors know, the time to invest is when costs are heavily discounted. For Bitcoin mining, that’s right now.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.William Szamosszegi is the CEO and founder of Sazmining Inc., a cryptocurrency mining developer and consulting firm, and host of Everything Crypto Mining: The Sazmining Podcast. He is bullish on Bitcoin’s future as the dominant global digital reserve asset and believes Bitcoin is the solution for layer-one, sound money. William grew up in Maryland and studied psychology and management at Bucknell University. William spends his spare time working out, seeing friends and reading.
  • Bitcoin for cash: Do crypto ATMs make buying BTC easier for the mainstream? News - 1 day ago
    Bitcoin ATMs may make it easier for the mainstream and unbanked to access crypto, but will security risks hamper adoption? Cash may be king when it comes to purchasing Bitcoin (BTC), as recent data states that there has been a spike in crypto ATM installations during 2021, showing a 71.3% increase from Jan. 1, 2021, until the time of reporting. Specifically speaking, there are currently over 24,000 crypto ATMs located across the globe. Data further suggests that crypto ATMs are being installed at a rate of about 52.3 machines per day. While growth is clearly underway for the cryptocurrency sector, the reason behind the surge in crypto ATMs may be due to a demand for using cash to buy Bitcoin. Alona Lubovnaya, director of product operations for Bitcoin Depot — a Bitcoin ATM operator — told Cointelegraph that more people from all walks of life are becoming interested in crypto, particularly the underbanked community. “We’ve entered a new era where traditional bank accounts can be replaced with digital wallets, and because of this, more people are choosing to buy crypto with cash.”Cash is easy and familiar for the mainstreamWhile there are many reasons as to why certain individuals would want to buy cryptocurrency from an ATM versus an exchange, most of the common use cases seem to be focused on easy and quick access to crypto. For instance, one piece of research claims that over 50 million Americans are likely to buy cryptocurrency in the next year. Findings also indicate that a lack of understanding is the biggest barrier for new investors. Specifically, 20% of those surveyed said that they still don’t understand how to buy cryptocurrency. Derek Muhney, director of marketing and strategy at Coinsource — a provider of Bitcoin ATMs — told Cointelegraph that many people looking to get started with crypto value the haptic element of a physical machine, such as an ATM. According to Muhney, Bitcoin ATMs are the best way to buy Bitcoin for an increasing target group of unbanked and underbanked. While this may be obvious, Muhney further pointed out that this has become the case with baby boomers and millennials, noting that these users make up the lion’s share of Bitcoin ATM transaction volumes to date.Echoing Muhney, Ben Weiss, CEO of CoinFlip — a Chicago-based Bitcoin ATM operator — told Cointelegraph that Bitcoin ATMs function primarily to make crypto digestible and attainable to new users who may not understand the intricacies of cryptocurrency or blockchain technology. To demonstrate this point, CoinFlip conducted a Twitter poll to find out how many people on Crypto Twitter have used a Bitcoin ATM. CoinFlip’s survey revealed that 72.2% of individuals never used a Bitcoin ATM, while only 27.8% noted they have. Weiss explained that he wasn’t surprised by these results, noting that Crypto Twitter is composed of people who are passionate about cryptocurrency and have a relatively deep understanding of the technology. As such, Weiss commented that mainstream users are the primary customers of Bitcoin ATMs:“Using a crypto ATM is the simplest way of purchasing crypto. You don’t have to wait weeks or months for verification and will normally receive your crypto before you get back to your car. People understand ATMs, and crypto ATMs are not too different of a concept.”Alex Mashinsky, CEO and co-founder of Celsius — a centralized cryptocurrency lending platform — further elaborated on this, noting that there are many groups of customers in the crypto space. For example, Mashinsky explained that hodlers will never sell their crypto, while speculators aim to time the market. Yet, Mashinsky noted that “tourist” users will be the ones to likely leverage a Bitcoin ATM. Mashinsky added: “For temp workers and the 25% of those who do not have a bank account, a Bitcoin ATM is cheaper than Western Union or a bank wire. This segment will continue to grow and take market share from traditional finance companies that overcharge their clients.”Bitcoin ATMs will grow, but security concerns remainConsidering the fact that over 6% of United States households, or a total of 14.1 million American adults, are currently unbanked, Bitcoin ATMs will undoubtedly multiply moving forward. The estimate, further supported by Muhney, suggests that “more than 100,000 Bitcoin ATMs will be installed by 2025 and that the industry will grow to beyond $1.7 billion.”While this is notable for the growing cryptocurrency sector, security challenges may hamper adoption. John Jefferies, chief financial analyst of CipherTrace — a cryptocurrency intelligence firm — told Cointelegraph that as recently as last year, Bitcoin ATMs operating in Canada did not require any form of Know Your Customer, or KYC, processes. “None of these Bitcoin ATMs required KYC, making these the wild west,” Jefferies said. As the crypto space matured, Jefferies noted that the majority of Bitcoin ATMs in the U.S. now require KYC from users:“KYC is critical for these money service businesses to become a part of the traditional financial system. We are now seeing a lot of Bitcoin ATM vendors (those who make the hardware), along with the operators, focused on compliance.”Jefferies added that this has also become the case due to examinations from entities like the Internal Revenue Service, or IRS: “Similar to traditional money services businesses, Bitcoin ATM providers will get visited by examiners. The IRS does this for the Financial Crimes Enforcement Network.”Moreover, Jefferies pointed out that CipherTrace is starting to see Bitcoin ATM providers take an interest in a solution to comply with the travel rule. The Financial Action Task Force’s (FATF’s) Travel Rule came into effect for Virtual Asset Service Providers, or VASPs, in 2020. The Travel Rule requires regulators and VASPs to collect and share customer data during transactions. According to Jefferies, CipherTrace is working with six Bitcoin ATM operators to apply a travel rule solution called “Traveler” to specifically address the counterparty VASP’s due diligence that is demanded by the FATF guidelines. While the Traveler tool was recently implemented by some exchanges like Binance and, Jefferies shared that CipherTrace is making the product more viable for Bitcoin ATM…
  • Bitcoin records rare 10-day winning streak as BTC price taps $42K ceiling News - 1 day ago
    Daily chart data shows the strength of the current rally as a longstanding resistance level finally shows signs of falling. Bitcoin (BTC) shot to new highs of $42,400 on July 31 in a surprise attack on range resistance which sellers failed to squash.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin seals 10 green candles in first since 2012Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining for a tenth straight day across exchanges, reaching $42,420 on Bitstamp.A subsequent cooling-off preserved most of the gains, with Bitcoin circling $41,900 at the time of writing, still up over 8% over the past 24 hours.In trading circles, talk focused on a rare performance for the Bitcoin daily chart — ten green candles in a row, after all, last occurred in 2012.Bitcoin has closed 10 straight green daily candles!— Will Clemente (@WClementeIII) July 31, 2021 Even eight days of consecutive gains are a rarity, while nine have been seen only twice. Depending on the exchange, the data can be slightly different — Coinbase saw 12 green candles one after another in May 2017, one Twitter user noted.Regardless, conspicuous was on one hand Bitcoin’s strength, and on the other the lack of bearish selling pressure.A glance at short activity on major exchange Bitfinex underscored the current mood, with hardly any trader willing to take on the risk of shorting the Bitcoin spot price at current levels.BTC/USD shorts 1-day candle chart (Bitfinex). Source: TradingView”BTC just tapped 42k as resistance for the first time since the epic drop in May,” popular trader Scott Melker summarized on the day. “Time to pay attention.”Cracks appear in Bitcoin’s ceilingAs Cointelegraph reported, $42,000 represents the final resistance hurdle in Bitcoin’s multi-month trading range. Since coming down from all-time highs and falling through the level, which also represents the previous all-time from February, it has acted as a de facto unchallenged price ceiling.Related: Price analysis 7/30: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTCAbove, orderbook data shows, little lies in Bitcoin’s way — $45,000 or even $47,000 could easily be next, a hypothesis also supported by whale investing behavior.BTC/USD buy and sell positions (Binance) as of July 31. Source: Material Indicators/ TwitterAccording to the popular and historically accurate stock-to-flow Bitcoin price forecasting models, spot price should still be much higher — $94,839 on Saturday.Nonetheless, its creator, PlanB, has said that a monthly close of at least $47,000 for BTC/USD in August would be enough for progress to remain on track.
  • The future of DeFi is spread across multiple blockchains News - 1 day ago
    As the decentralized space is growing at lightning speed, projects need to adapt to the multichain future or risk becoming irrelevant. Long stuck in the shadows of Bitcoin (BTC), Ethereum (ETH) finally took hold of the market in 2020 during the decentralized finance summer. Designed to recreate traditional financial systems with fewer middlemen, DeFi is now being used across lending, borrowing, and the buying and selling of tokens. The majority of these decentralized applications (DApps) are run on Ethereum, which saw activity on the network increase during 2020. This activity also trended upwards due to yield farming, also known as liquidity mining, which enables holders to generate rewards with their crypto capital.But as activity on Ethereum increased, so too did the network’s transaction fees. In May, it was reported that Ethereum gas fees were skyrocketing. It’s intuitive that engaging in DeFi is only worthwhile when handling capital that exceeds any network fees. Consequently, it soon became clear to users that the blockchain was verging on unusable.Related: Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answerWithout a doubt, Ethereum remains the most active and populated blockchain, but other potential players are popping up, providing a viable alternative to Ethereum. For example, layer one protocols such as Binance Smart Chain (BSC) and Solana (SOL) are attracting billions in assets under management, whereas layer two solutions such as Polygon (MATIC) are capturing Ethereum’s disgruntled users’ attention due to their compatibility with Ethereum-based protocols. This is in addition to delivering low fees and quick transaction speeds. However, despite Ethereum gas fees reaching a high over the past year and the growth of faster networks, none of these chains have killed Ethereum yet.It’s because of this, as we enter the second half of 2021, that the narrative of “Ethereum vs. the rest” is starting to change — developers are realizing the value of a cross-chain future rather than having to pick one blockchain to build on. It’s no longer a case of creating a chain with a competitive edge, but of ensuring all chains can work interchangeably to improve the industry.Related: A multichain future will accelerate innovators and entrepreneursBenefits and drawbacks of a multichain futureDue to its prominence and longstanding presence in the market, Ethereum has the first-mover advantage and remains the most significant blockchain within the DeFi ecosystem as of Q1 2021. But with other chains gaining momentum, it is these alternatives to Ethereum that are providing the benefits of faster transaction speeds and significantly lower fees.The introduction of other chains isn’t necessarily a bad thing, even for Ethereum fans. After all, a multichain ecosystem brings additional space for new protocols to enter, each with a strong user base. Each new chain also creates a new community, vacancies for services, and an individual identity and culture.Related: Too little, too late? Ethereum losing DeFi ground to rival blockchains One possible drawback, depending on how you look at it, is that some blockchains require unique programming languages, such as JavaScript, Rholang, Simplicity, Rust or Solidity, which may present a barrier to entry for developers. At the same time, however, different coding languages can present a new way for developers to solve a problem. And as the blockchain space moves further towards multichain, it may inspire developers to create and innovate as they witness the diversity in viable blockchain projects. It’s for this reason that projects which don’t innovate could be seen as lagging and abandoned by their community.Not only that, but separated blockchains create innovation silos, presenting challenges to progress and adoption. Joining the multichain future together can be seen as seamlessly connecting these specialized groups. This could be seen as a difficult objective to achieve in the traditional tech world, but cryptocurrency and blockchain are challenging these existing infrastructure monopolies, and this industry has the ability to pioneer an ecosystem that works cohesively rather than competitively.Related: Life beyond Ethereum: What layer-one blockchains are bringing to DeFiMore blockchains, more valueIt’s inevitable that projects will eventually connect multiple blockchains, making the transfer of information from one chain to another seamless. In fact, the cryptocurrency market and multichain adoption is less of a zero-sum game than is often cited. And, as the multichain future becomes more apparent, it will only become clearer that the additional functionality, usability and scalability it brings is contributing to the onboarding of new users.Related: The great tech exodus: The Ethereum blockchain is the new San Francisco Rather than viewing the existence of a multichain future with doubt, it should be looked on positively. There are plenty of different smart contract platforms in the crypto ecosystem, all of which impact the blockchain space in terms of accessibility, economic viability and innovation. Blockchains may be separated right now, but everything will come together in the end, creating an interoperable and fast network of protocols that fulfils our daily needs. The beauty of this is that we won’t have to worry about how we’re transacting or what we’re transacting on, as it won’t matter.We’re still far from achieving the end goal of interoperability, but once it’s achieved mass adoption, the crypto industry will be unstoppable. And, as the sector continues to grow, projects are finding that they have to adapt to a multichain future soon or risk getting left behind.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Michael O’Rourke is the co-founder and CEO of Pocket Network. Michael is a self-taught iOS and Solidity developer. He was also on the ground level of Tampa Bay’s Bitcoin/crypto meetup and consultancy, Blockspaces, with a focus on teaching developers Solidity. He graduated from the University of South Florida.
  • Traders forecast $3K Ethereum price but derivatives data suggests otherwise News - 1 day ago
    ETH might have rallied 35% off its $1,750 low but derivatives data shows pro traders are not so bullish. Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary after ETH2.0 goes live.The network fees will automatically be set, although users can choose to pay extra for faster confirmation. Miners (or validators in the future) will receive this additional fee, but the base fee will be burned. In a nutshell, Ether is expected to become deflationary.Ether price in USD at Bitstamp. Source: TradingViewWhile it’s difficult to identify the main drivers of the recent rally, it is possible to gauge professional traders’ sentiment by analyzing derivatives metrics.If the recent price move was enough to instill confidence, the futures contracts premium and options skew should clearly reflect this change.Bullish sentiment is missing even after futures contracts entered contangoBy analyzing the price difference between futures contracts and regular spot markets, one can better understand the prevalent sentiment among professional traders.The 3-month futures should trade with a 6% to 14% annualized premium on neutral to bullish markets, which is in line with stablecoins’ lending rate. By postponing settlement, sellers demand a higher price, and this causes the premium.Whenever the futures premium fades or turns negative, it raises an alarming red flag. This situation is also known as backwardation and indicates that there is bearish sentiment.September Ether futures premium at OKEx. Source: TradingViewThe above chart shows that the Ether futures premium flipped negative on July 20 as Ether tested the $1,750 support. However, even the massive rally up to $2,450 wasn’t enough to bring the September contract premium above 1.3%, equivalent to 8% annualized.Had there been some excitement, the annualized futures premium would have been at 12% or higher. Therefore, the stance of professional traders seems neutral right now and is flirting with bearishness.To exclude externalities exclusive to the futures instrument, traders should also analyze options markets.Options markets confirm that pro traders are not bullish Whenever market makers and whales lean bullish, they will demand a higher premium on call (buy) options. This move will cause the 25% delta skew indicator to shift negatively.On the other hand, whenever the downside protection (put option) is more costly, the 25% delta skew indicator will become positive.Ether 1-month options 25% delta skew. Source: laevitas.chReadings between negative 10% and positive 10% are usually deemed neutral. The indicator had been signaling ‘fear’ between May 20 and July 19 but quickly improved after the $1,750 support held.Despite this, the current 25% delta skew at negative 4 isn’t enough to configure a ‘greed’ indicator. Options markets pricing is currently well balanced between call (buy) and put (sell) options.Both derivatives metrics suggest that professional traders gradually exited the ‘fear mode’ on July 20, but they are nowhere near bullish. Currently, there is little confidence in the recent rally from these metrics’ perspective, which is understandable considering the risks presented by the upcoming hard fork and the uncertainty caused by unsatisfied miners.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
  • 5 easy ways crypto investors can make money without needing to trade News - 1 day ago
    Want to get paid to HODL? Here are five easy ways crypto investors make money without trading. Large price jumps and 100x gains get a lot of attention from pundits and influencers in the cryptocurrency community because they offer the hope of overnight riches. In reality, these opportunities are few and far between. Not to mention, only a handful of traders actually manage to catch these waves and cash out in time to lock in life-changing money. Fortunately, catching a large price surge is far from being the only way for crypto investors to make a buck, and the recent rise of decentralized finance (DeFi), nonfungible tokens (NFTs) and the slow march of mainstream crypto adoption provides a near endless stream of investment opportunities. Let’s have a look at five different ways crypto holders can make an easy buck without actually having to trade. Staking Staking, which rewards users for locking tokens on a protocol as collateral for transaction validation, is one of the best ways to earn a yield on assets held in a crypto-based portfolio. In August, the Ethereum network will switch from a proof-of-work (PoW) consensus model to a proof-of-stake (POS) model, and Ether (ETH) holders who stake in the Eth2 contract can earn up to 5.83%.Under this new PoS system, token holders actively participate in transaction validation by locking their coins in nodes on the network that then vie for a chance to verify transactions, create new blocks and receive the rewards that come along with it. Data from Staking Rewards shows that a stake of 10 Ether currently results in a weekly earning of 0.0075 ETH, worth $17.96 at current prices, and a yearly earning of 0.3876 ETH which is currently worth $933.69. Calculated staking rewards for Ether. Source: Staking RewardsThe percentage yield for Ether decreases as more tokens are locked on the network so the final earnings may change. Currently, the top five crypto assets by staked value are Cardano’s ADA, Ether, Solana (SOL), USD Coin (USDC) and Polkadot (DOT).Top 5 crypto assets by staked value. Source: Staking RewardsAll things considered, staking provides one of the best low-risk opportunities in crypto to gain a bigger stack regardless of market sentiment or performance, while also helping to support the network through transaction validation. Lend crypto for low-risk yieldsThe growth of the DeFi sector led to the development of a diverse crypto lending ecosystem, where users can deposit their cryptocurrencies to various lending protocols in exchange for rewards in the underlying token or in different assets like Bitcoin (BTC), Ether and various altcoins. Aave is the top lending protocol at the moment and the platform offers yield opportunities for tokens on the Ethereum and Polygon network with its native coin MATIC.Top 7 Aave lending pools on the Polygon network. Source: AaveThe chart above shows the top seven lending pools available through the AAVE protocol on Polygon and rewards are paid in Wrapped MATIC (WMATIC), with the current deposit annual percentage yield (APY) being 1.92% and a yearly estimated APY of 6.1%. Other top lending protocols include Curve (CRV), Compound (COMP), MakerDAO (MKR) and (YFI).Lending offers another low-risk way to earn a decent yield, in both bull and bear markets, on tokens that don’t offer user-controlled rewards like staking.Earn fees and tokens from providing liquidityLiquidity provision is one of the primary components of a DeFi platform, and investors who choose to provide funds to emerging platforms are often rewarded with high percentage returns on the amount staked, as well as a percentage of the fees generated by transactions within the pool. Rewards for ETH-USDC liquidity pool on QuickSwap. Source: QuickSwapAs seen in the image above, providing liquidity to an Ether/USDC pool on QuickSwap will entitle an investor with a percentage of the $23,098 in total daily distributed rewards and a fee APY of 33.81%. Ideally, long term investors would be wise to research the available pools on the market, and if a liquidity pair comprised of solid projects or even a stablecoin pair such as USDC/Tether (USDT) looks appealing, it has the potential to be the blockchain version of a savings account that offers far better yields than can currently be found in any bank or legacy financial institution. Maximize returns by yield farmingYield farming is the concept of putting crypto assets to work in a way that generates the highest yield possible while minimizing risk. As new platforms and protocols emerge, they offer high incentives to depositors as a way of mining for liquidity and increasing the total value locked (TVL) on the protocol. Rewards for STKGHST-WETH LP deposits on DinoSwap. Source: DinoSwapThe high yields offered are generally paid out in the native token of the platform as seen above, where a user has deposited a liquidity pool token for an STKGHS-WETH pair which has an APR of 189.2% and has so far generated a reward of 3.312 DINO. For long investors who hold a portfolio filled with an assortment of tokens, yield farming is a way to gain exposure to new projects and obtain new tokens without having to spend new funds Related: Here’s why DinoSwap’s (DINO) TVL rose above $330M a week after launchNFT and blockchain gaming make ‘play-to-earn’ a realityBlockchain gaming and NFT collecting is another way to produce a return on a crypto portfolio without spending new funds. Axie Infinity is the most popular example at the moment, and the in-game play involves trading, battling, collecting and breeding NFT-based creatures known as Axies.Playing Axie Infinity generates rewards in the form of Smooth Love Potion (SLP), an in-game token that is used in the Axie breeding process and also trades on major cryptocurrency exchanges. Users can swap SLP for dollar-based stablecoins or other large-cap cryptocurrencies. According to data from Your Crypto Library, “Today, the average player earns between 150 to 200 SLP per day,” which, at current market value, is worth between $40 and $53.50.In some parts of the world, that amounts to the income provided by a full-time job. For this reason,…
  • Price analysis 7/30: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC News - 2 days ago
    Traders expect altcoins to move higher now that Bitcoin price finally pierced the $41,000 resistance. Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels.However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28.Ecoinometrics also cited on-chain data to show that “whales” and “small fish” accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week. Daily cryptocurrency market performance. Source: Coin360Institutional investors are also not to be left behind in their plans to accumulate more Bitcoin. MicroStrategy, which holds about 105,085 Bitcoin, said in its second-quarter report that the company intends “to deploy additional capital into our digital asset strategy.”Wealthfront, a popular US-based robo-investment firm $25 billion in assets under management, announced that it would allow its clients to allocate up to 10% of their portfolio into Grayscale’s Bitcoin Trust and the Grayscale Ethereum Trust. With demand increasing from small investors and high-net-worth individuals, will cryptocurrencies stage a sharper recovery? Let’s study the charts of the top-10 cryptocurrencies to find out.BTC/USDTBitcoin formed a Doji candlestick pattern on July 29, indicating indecision among the bulls and the bears near the $40,000 mark. That uncertainty briefly resolved to the downside and if the price does not hold its recent surge above $40,000 the price could drop to $36,670.BTC/USDT daily chart. Source: TradingViewThe moving averages have completed a bullish crossover and the relative strength index (RSI) is in the positive zone, indicating that bulls have the upper hand. If the price rebounds off $36,670, it will suggest that bulls have flipped this level into support.The buyers will then again try to push the price above the overhead resistance zone at $41,330 to $42,451.67. This may not be easy because bears will try to defend this zone aggressively.If the price turns down from the zone, the BTC/USDT pair could remain range-bound between $36,670 and $42,451.67 for a few more days. A breakout and close above $42,451.67 will suggest the start of a new uptrend.The bears will be back in the driver’s seat if they can sink the price back below the moving averages.ETH/USDTEther (ETH) reached the downtrend line today but the bears are defending the resistance aggressively. The price could now drop to $2,200 where buyers may step in and arrest the correction.ETH/USDT daily chart. Source: TradingViewThe moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting that bulls have the upper hand. If the price rebounds off the 20-day exponential moving average, the bulls will again try to thrust the price above the downtrend line.If they succeed, the ETH/USDT pair could rise to $2,600 and then to $3,000. This positive view will invalidate if the price turns down from the current level and breaks below the moving averages. Such a move could sink the price to $2,000 and next to $1,728.74.BNB/USDTThe bulls pushed Binance Coin (BNB) above the 50-day simple moving average ($310) on July 29 but they could not challenge the overhead resistance at $340. This suggests that buying dries up at higher levels.BNB/USDT daily chart. Source: TradingViewThe bears will now try to take advantage of the lack of demand to pull the price below the 20-day EMA ($305). A break of this support could result in a drop to the trendline and next to the July 20 low at $254.52.On the contrary, if the price rebounds off the 20-day EMA, it will suggest buying on dips. The bulls will then make one more attempt to clear the overhead resistance at $340. If they pull it off, the BNB/USDT pair could rise to $379 and next to $400.ADA/USDT The failure of the bulls to drive Cardano’s (ADA) price above the 50-day SMA ($1.32) indicates that bears are aggressively defending the resistance.ADA/USDT daily chart. Source: TradingViewIf the price breaks below the 20-day EMA ($1.25), short-term traders may close their positions and that could drag the price down to $1.10 and later to $1. A break below $1 could result in long liquidation.On the other hand, if the price rebounds off the 20-day EMA, the bulls will again try to push the price above the downtrend line. If that happens, the DOT/USDT pair could rise to $1.50 where bears may again mount a stiff resistance.XRP/USDTThe bulls have failed to push XRP above the $0.75 level for the past two days, which suggests that bears are defending this level aggressively.XRP/USDT daily chart. Source: TradingViewThe moving averages are on the verge of a bullish crossover and the RSI is in the positive territory, indicating that bulls have the upper hand. If bulls do not allow the price to break below the 20-day EMA ($0.64), the XRP/USDT pair may rise above $0.75. That will complete a double bottom pattern, clearing the path for a possible rally to $1.07.This positive view will invalidate if the price turns down and plummets below the moving averages. The bears will then try to pull the price to $0.59 and then to $0.50. Such a move will indicate that the range-bound action may continue for a few more days.DOGE/USDTThe bears have been defending the $0.21 resistance for the past few days but a minor positive is that bulls have not given up much ground. This suggests that buyers are not closing their positions as they anticipate Dogecoin (DOGE) to move up.DOGE/USDT daily chart. Source: TradingViewThe flat 20-day EMA ($0.20) and the RSI above 45 suggest a balance between supply and demand. This balance will tilt in favor of the bulls if they can push and sustain the price above the 50-day SMA ($0.23). That may clear the path for a rally to $0.28 and then $0.33.Conversely, if the price turns down from the current level and breaks below $0.18, the DOGE/USDT pair may drop to $0.15. This is an…
  • GoldenTree Asset Management is reportedly investing in Bitcoin News - 2 days ago
    At least three executives at the $45 billion firm have participated in a funding round for the blockchain-focused VC group Borderless Capital. New York-based asset management firm GoldenTree has reportedly added Bitcoin to its balance sheet, though the amount of this supposed investment remains unknown.According to a Friday report from financial news outlet The Street, the firm with roughly $45 billion in assets under management has purchased some Bitcoin (BTC) but has seemingly shied away from other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported the BTC purchase followed discussions between executives regarding hiring staffers familiar with crypto investments. Executives at the firm, including founder Steven Tananbaum and partners Deeb Salem and Joseph Naggar invested in a funding round this month for Borderless Capital, which previously helped launch an accelerator program from Algorand. Borderless also participated in a funding round for the Coinbase-backed digital asset securities firm Securitize.Related: 5 largest regulated US digital asset managers hold over $46B of cryptoOther asset management firms have begun to delve into the crypto space as well, either through direct investments or by offering investment vehicles for Bitcoin and other tokens. Last week, Stone Ridge Asset Management filed a prospectus with the U.S. Securities and Exchange Commission to add BTC to its open-end mutual fund. On Wednesday, Contrarian investment firm Horizon Kinetics advised investors to seek exposure to crypto assets to protect themselves against currency debasement.Cointelegraph reached out to GoldenTree, but did not receive a response at the time of publication.
  • Binance completes Polygon wallet integration News - 2 days ago
    The company indicated that transactions should now be cheaper than utilizing the traditional Polygon-Ethereum bridge. Binance has fully integrated the Polygon (MATIC) mainnet onto its platform, according to a press release. From now on, Binance traders can deposit and withdraw MATIC through their Binance accounts while also interacting with decentralized applications, or DApps, like Sushiswap, Balancer, Aave, and more. This integration is meant to ensure that traders can utilize said DApps cheaply and efficiently without using the existing Polygon bridge. Related: Polygon announces scalable data availability infrastructure AvailWhile this announcement specifically focuses on the MATIC mainnet token, Binance also intends to support ERC20, BEP2, and BEP20 MATIC associated tokens.Binance marks Polygon’s latest integration, as the network has already worked with Huobi and Coinbase Wallet, among others, to the same effect. The scaling solution is supported by various Ethereum-centric services as well, such as Metamask and Infura. DApp users are waiting patiently for Ethereum 2.0 to solve many of its scalability issues. However, it appears that Polygon is filling that void for now. The network gives developers a way to build unique sidechains for all of their DApps, which may provide the necessary growth capabilities for mass adoption.Related: Crypto enthusiasts ape in as DEX expands to PolygonDevs are already taking advantage of those capabilities, too. Recently, Polygon established the gaming-focused Polygon Studios to build decentralized games and harness the power of non-fungible-tokens.As for Binance, the situation is a little more cloudy. The world’s largest cryptocurrency exchange has just been banned in Malaysia. It has 14 days to cease operations in the region. This news comes shortly after learning Binance will shut down crypto derivatives trading in Europe, despite the platform’s cutting of withdrawal limits and its introduction of tax reporting tools.
  • NFTs can be a good pathway to draw women into crypto, says Lavinia Osbourne News - 2 days ago
    Though nonfungible token projects are one path to entry, women are still underrepresented in many crypto and blockchain firms. Women looking for a way to enter a male-dominated space like crypto and blockchain may be drawn in by nonfungible tokens, according to Women in Blockchain Talks founder and host Lavinia Osbourne. Though the ongoing pandemic has left people in many countries in financial trouble — whether by losing their jobs, being unable to physically go to banks, or other concerns — Osbourne told Cointelegraph the event may have pushed many women into crypto and blockchain once they were forced to move on from other careers. She said the recent surge and media coverage of nonfungible tokens, or NFTs, had made crypto “more relatable” to many people in the arts and other creative fields.“People look at NFTs and it’s like ‘it’s different — I don’t actually get the technology,’” said Osbourne. “When they’re hearing all these stories about people making money on NFTs, it’s like ‘how can I get involved?’ I think NFTs are a good pathway to entice people into the space.”Related: Blockchain technology could be particularly beneficial for women, says WTO director generalThough Osbourne was likely referring to men and women of all economic backgrounds, her assertion would seem to be supported by the popularity of an NFT project recently launched by That ’70s Show and Family Guy star Mila Kunis. The actress said she developed an interest in crypto during the pandemic, noting it to be a “very masculine area.” She later pioneered the NFT project Stoner Cats, featuring prominent names from Hollywood and the crypto space, including Ethereum co-founder Vitalik Buterin — the project sold 10,420 NFTs in under 35 minutes earlier this week, and streamed its first episode several days later.Osbourne said that though NFTs were one path to entry, there was still the problem of female underrepresentation in crypto and blockchain firms. Women account for roughly 34% of those working in the tech industry but only 12% of those in blockchain according to the Women in Blockchain Talks founder. She proposed closing the gap with a campaign “to show women that tech, blockchain, science, STEM is a space for them.” Related: Robinhood COO: We have enabled more women to trade crypto“If these women want to have a career that has some longevity to it, then they have to look at these spaces,” said Osbourne. “Traditionally it’s just been overwhelmingly male, and there’s been nothing to counteract that.”She added:“If we want to bring in more women, then we need to shine a spotlight on women, so that other women can see those other women and feel comfortable to know that this space is for them as well.”As part of these goals, Osbourne and others are working to bring in 50,000 women into blockchain by 2023. The campaign encourages women to sign up and learn more about the benefits — financial and personal — of entering the space. Cointelegraph’s editor-in-chief Kristina Cornèr will be speaking with Osbourne on the second anniversary of the Women in Blockchain Talks in September.
  • Avalanche launches upgraded bridge, prepping DApps for mainstream adoption News - 2 days ago
    The new bridge is allegedly five times cheaper, faster, and more secure than before. The company says it is meant to act as a “growth engine” for future expansion. Avalanche (AVAX) is replacing its months-old Avalanche-Ethereum Bridge, or AEB, with the aptly named Avalanche Bridge, or AB, according to a Medium post from the company. This newer bridge is allegedly fives times cheaper than the previous one and will act as a “growth engine” for the project’s future.The post notes that the AB is available to developers and users right now, and all previous assets from the AEB should carry over. This upgrade is occurring alongside the network’s wallet and explorer upgrades to bring “next-generation improvements” to all of its aspects.Related: Neon Labs deploys cross-chain Ethereum Virtual Machine on SolanaConsidering 59% of existing decentralized applications, or DApps, run on Ethereum, upgrades like these are likely necessary for future interoperability. As of this writing, converting assets from one to another is expensive and time-consuming. While Ethereum’s 2.0 upgrade is meant to solve such issues, this shift is likely a number of years away.Helping ensure the AB launch runs as smoothly as possible are the ecosystem’s “Wardens” — users that run an audited, up-to-date version of the bridge, similar to nodes in a traditional network. At launch, the Wardens will consist of Avascan, Halborn, Ava Labs, and BwareLabs.The team behind the Avalanche Bridge, Ava Labs, asks that developers begin preparing their DApps for new standards. Speaking on the matter is Ava Labs’ CEO, Emin Gün Sirer, who said:“The new Avalanche Bridge is a leap forward in bridging technology, but most importantly, it is a dramatic improvement in experience for users and developers across the Avalanche community. It will be a growth engine for the next phase of growth on Avalanche, and set a new standard for secure and efficient cross-chain interoperability.”Related: A decentralized app store might lead crypto toward more centralizationWhile the AB is one of many potential Ethereum bridges looking to improve the network, such early technology is sometimes confusing newer cryptocurrency traders. Sirer himself is aware of these limitations, though he’s “quite bullish” on the future of blockchain. Even then, DApps such as yield farming platform DeFi Yield Protocol are looking to run on Avalanche in the near future.
  • Cardano risks 60%-90% drop, warns trader with ADA painting a classic bearish pattern News - 2 days ago
    Spotted by veteran analyst Peter Brandt, the classic technical pattern can result in ADA price losing almost 90%. Cardano is close to attaining the title of a fully-fledged smart contracts platform following a critical upgrade in mid-July. The project’s founder Charles Hoskinson confirmed that they recently processed the sales of more than $10 million worth of non-fungible tokens atop their public ledger. Moreover, SundaeSwap, the first DeFi DEX to utilize Cardano smart contracts is expected to launch soon, and many ADA investors interpret this as a potential bullish catalyst for the altcoin.But the Ethereum rival’s growth as a project might not lead to higher adoption for its native cryptocurrency, ADA, at least according to an analysis shared by Peter Brandt, the chief executive of global trading firm Factor LLC.A 60%-90% crash ahead?The veteran analyst shared a bearish setup for ADA in a tweet published Friday. He cited a classic technical pattern, known as Head and Shoulders, to predict a downside scenario for the Cardano token that is already up more than 600% on a year-to-date timeframe.In detail, Head and Shoulders forms when the price forms three consecutive peaks atop a single support level, with a condition that the middle peak is higher than other two, which are typically of the same height. The price eventually breaks below the support levels—also called neckline—and falls by as much as the maximum height between the middle peak’s top and the support level.ADA visibly fits the description, as shown in the chart shared by Brandt.Cardano’s head and shoulder setup. Source:, Peter BrandtThe analyst envisioned the ADA/USD exchange rate to drop as far as $0.12, down 90% from the pair’s current bid near $1.26. A percentage-based calculation of the Head and Shoulders pattern marked its profit target near $0.35, down 60% from its neckline.Brandt recalled his record of predicting market tops to add strength to his depressive Cardano prediction. For instance, one of his analyses from 2018, involving Litecoin, corrected spotted a descending triangle setup following the altcoin’s run-up from $4 to $420 during the 2017’s bull run.”I remember being scoffed at unmercifully when I identified this top in LTC/USD back in mid 2018,” Brandt tweeted. “Hey Cardano trolls, take aim.”But can 2018 repeat?The crash that followed the 2017 bull run originated primarily because of the so-called initial coin offering bust. A study conducted by Statis Group noted that more than 80% of blockchain startups that raised funds in Bitcoin, Ether, and other top coins of that time, failed to turn up a working product.Meanwhile, a majority of them turned out to be outright scams that sold the raised crypto capital, thus creating a downward pressure on the entire market. Litecoin, Bitcoin, and Ether crashed by more than 80% in 2018 as the ICO FUD pushed investments out.In contrast, the 2020 bull run came in the wake of macroeconomic blunders. The Federal Reserve’s efforts to contain the economic aftermath of the Covid-19 crisis saw it launching an unprecedented quantitative easing program. As a result, near-zero interest rates and $120 billion worth of asset purchases sent investors looking for better alternatives in riskier markets every month.As a result, Bitcoin boomed from below $4,000 in March 2020 to above $65,000 in April 2021. Meanwhile, altcoins, which tend to tail Bitcoin trends, surged likewise. Cardano’s ADA was one among them; it is now trading more than 7,000% higher from its mid-March bottom.The 30-day correlation between Bitcoin and ADA stands near 0.85 above zero, per data provided by Crypto Watch.Related: Waiting for Alonzo: Cardano smart contracts creep toward full launchSimon Kim, CEO of crypto venture fund Hashed, told Cointelegraph in March that the 2020-2021 crypto market is entirely different from the one from 2017-2018, noting that the market now is running on a completely different fundamental. He said:”Firstly, various DeFi projects are creating value based on a clear business model. Secondly, we’re seeing record active investment by institutional investors, and finally, various on-ramps and off-ramps, including not only PayPal and Visa but also large banks, are now emerging.”Rekt Capital, a pseudonymous market analyst, noted that ADA needs to close above its weekly close of $1.30 to confirm its long-term bull trend. Cointelegraph’s Rakesh Upadhyay also pointed out that a break above $1.33 would increase the Cardano token’s potential to extend its upside target towards $1.90.”Conversely, if the price turns down from the current level or the overhead resistance and slides below $1.20, it will indicate that bears continue to sell at every higher level. That may result in a retest of the critical support at $1,” Upadhyay warned, nonetheless.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Who takes gold in the crypto and blockchain Olympics? News - 2 days ago
    Every four years (usually), the world comes together in a celebration of sport and competition at the Olympic Games. In the spirit of Tokyo 2020, lets look at countries that are deserving of gold medals across different spheres of the cryptocurrency and blockchain space.The variety of sports featured at the Olympics have changed over the years, and the current summer Olympics in Japan features a total of 33 different sports. Exciting competitions like skateboarding and surfing were added for Japan as the global showpiece continues to evolve and adopt different sports.The cryptocurrency and blockchain space is similar in this regard. Many different working parts make for a colorful community both united and divided by their preferences of cryptocurrencies and blockchain platforms.Lets take a look at which countries and institutions take home gold medals in their respective crypto and blockchain codes.Gold for Bitcoin adoption goes to El SalvadorSports often have fans cheering for the underdog and El Salvador has emerged as one of those lesser-known players that have burst onto the global stage in 2021. The Central American country grabbed headlines this year as it officially became the first in the world to recognize Bitcoin as legal tender.Without delving too deep into the specifics, El Salvadors congress voted to pass President Nayib Bukeles Bitcoin Law which recognizes Bitcoin (BTC) as legal tender alongside the United States dollar, with 62 of a total 84 votes in agreement with the new legislation.  The law allows citizens to pay for goods and services in Bitcoin, and Bukele also stated that the Salvadoran government will guarantee the convertibility of BTC into USD at the time of any given transaction. The government plans to airdrop $30 worth of BTC to every citizen later this year.There have been critics of the law change both locally and abroad, but the overall sentiment seems positive for the adoption of Bitcoin and a change of perception toward the preeminent cryptocurrency.Nevertheless, there are a few final hurdles that lie ahead for the country. Firstly, the International Monetary Fund has issued its own warning about the potential downsides of countries adopting Bitcoin that currently have unstable inflation rates.Secondly, some citizens of El Salvador have also expressed their skepticism of the move. A survey undertaken at the beginning of July involving 1,233 citizens revealed that nearly half of the respondents knew nothing about Bitcoin. Of the poll takers, 20% agreed with the move, highlighting the need for an educational campaign to complement the progressive move to make BTC a legal tender in the country.Change is often met with uncertainty and resistance, but in terms of progression and adoption, El Salvador takes the gold medal in this first category.Switzerland takes silver in the category, thanks to its crypto-friendly laws that have boosted the use of cryptocurrencies and companies working in the space. The USA clinches the bronze medal thanks to the efforts of Miamis Bitcoin-friendly mayor Francis Suarez, whos been driving various initiatives to promote the use of BTC.China leads the CBDC race, but anti-crypto policies lead to disqualificationChina has been a powerhouse at the Olympics over the past two decades with its sporting program producing a fine pedigree of Olympic weightlifters, gymnasts, divers, shooters and martial artists. In the world of cryptocurrencies, the story is quite different.China has taken a stern stance toward cryptocurrencies and has continued this policy in 2021, with its outright ban of mining completely rebalancing the Bitcoin mining ecosystem as a result.Interestingly enough, the nation is far ahead of the world when it comes to the race to develop a fully-fledged central bank digital currency, or CBDC. Over the past 18 months, China has piloted and rolled out significant testing of its Digital Currency Electronic Payment, or DCEP. (function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event : evt,callback: cb});}}}})(); The best of blockchain, every Sunday Subscribe for thoughtful explorations and leisurely reads from Magazine. By subscribing you agree to our Terms of Service and Privacy PolicyLeave this field empty if you’re human:  Colloquially known as the digital yuan, citizens began testing the facility through lotteries that award a small number of participants in various cities with digital yuan, which they could use through a mobile app to pay for goods and services at thousands of participating vendors.There is no denying that China has blazed the trail for the development, testing and roll-out of its CBDC. In the same breath, the DCEP is a government-controlled program, and the specifics of the technology and systems powering the digital yuan are shrouded in mystery.However, Chinas recent ban on mining in different regions and its zero tolerance of cryptocurrency exchanges means that despite its well-developed CBDC program, it falls out of the reckoning for a medal. Luckily, a number of other countries have also made significant strides in developing their own CBDCs.In the world of sports, fans often get behind the underdog, and this is certainly the case with the Bahamas and its Sand Dollar CBDC. The country has made significant strides with the development and testing of its very own CBDC and became the first country to go live in October 2020.The Sand Dollar ecosystem continues to onboard more local banks and financial institutions, paving the way for widespread adoption of the CBDC and a fully digital payment environment. The Bahamas is the deserving recipient of the gold medal in this category.Sweden has begun its first trial of pilot testing the e-krona CBDC with a couple of local banks and external participants. As it continues testing its system with local financial institutions, Sweden earns the silver medal in this category.Cambodia and Ukraine have been credited for their own CBDC development programs by a recent report from PricewaterhouseCoopers, sharing the bronze medal in this category.North America in the race for gold in Bitcoin miningChina was undoubtedly the gold medal incumbent of Bitcoin mining but this is quickly changing in 2021. Recent estimates saw China account for more than 70% of the global hash rate before various mining operations were forced to shutter…
  • $25B investment firm adds 'riskier' Grayscale GBTC and ETHE for clients News - 2 days ago
    Wealthfront users will now be able to have up to 10% of their portfolios composed of the Grayscale Bitcoin and Ethereum Trusts. Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world’s biggest automated investment firms.In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had added two Grayscale funds to its suite of investment options.GBTC buzz returnsThe recent rise in cryptocurrency prices has kept institutional products such as Grayscale’s various funds in the spotlight.Wealthfront, an example of a so-called “robo advisor” in the investments space, will now allow its clients exposure to the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).”Buying cryptocurrency can feel intimidating — it takes time and effort to research all of the options, set up a wallet, and monitor an additional account. That’s why we’ve made it easy to get exposure to Bitcoin and Ethereum right in your Wealthfront portfolio, no wallets required,” the blog post explains.”Instead of buying coins yourself, you can invest in GBTC and ETHE.”Clients will be able to have up to 10% of their portfolio in Grayscale products, a limit the firm attributes to the “riskier and more volatile” nature of crypto products.The move nonetheless reduces the ease-of-access dilemma faced by those interested in Grayscale’s funds, which are not always directly available, and place strict rules on shareowners.Alongside Grayscale, meanwhile, Wealthfront increased its offering of exchange-traded funds (ETFs) from ARK Invest, itself a major GBTC stakeholder.ARK Invest’s GBTC holdings (purple). Source: Cathiesark.comWhat unlocking?The announcement comes as institutional interest in Bitcoin in particular shows no signs of decreasing at prices around $40,000.Related: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rallyAs Cointelegraph reported, exchange balances have fallen sharply this week, as over-the-counter (OTC) desks also see significant activity.For its part, Grayscale has rid itself of a negative narrative surrounding unlocking of GBTC shares after the events had no perceptible impact on BTC price action.Remember when all the traditional analysts said the Grayscale unlock would unleash billions in selling this last week? Yeah, no.— Willy Woo (@woonomic) July 29, 2021 Its CEO, Michael Sonnenshein, this week reiterated a pledge to turn all Grayscale crypto funds into ETFs at the earliest opportunity, subject to regulatory changes in the United States.
  • Ukraine central bank now officially allowed to issue digital currency News - 2 days ago
    Ukraine’s newly signed law On Payment Services requires close cooperation between the National Bank of Ukraine and private startups in the payment market. The Ukrainian government is moving forward with its central bank digital currency (CBDC) plans, as the National Bank of Ukraine (NBU) is now officially authorized to issue a digital currency.Ukrainian President Volodymyr Zelenskyy has signed a  law titled On Payment Services, officially enabling the country’s central bank to issue a CBDC, the digital hryvnia, according to a Thursday announcement.The new law authorizes the NBU to set up regulatory sandboxes for testing payment services and instruments based on emerging technologies. The new legislation also requires close collaboration between the Ukrainian central bank and local startups in the payment market, taking into account the demand of the private sector, the announcement reads.Initially approved by the Ukrainian parliament in late June, the On Payment Services aims to provide the implementation of open banking, the practice of sharing access and control to consumer financial information through third-party applications. The law is expected to stimulate the development of financial technologies in the country, allowing private fintech companies to establish cooperation with banks and have more business opportunities.Among other intentions, the newly signed law is also designed to adapt the Ukrainian legislation to the legal framework of the European Union, which would eventually allow integrating the country’s payment system with the one of the EU, the announcement notes. The legislation is based on modern requirements and takes into account the standards of European regulatory acts, including the Payments Service Directive 2 and the E-Money Directive.Related: Ukrainian e-bank plans to offer Bitcoin trading in JulyAs previously reported, the NBU has been closely looking into issuing a digital currency over the past several years, outlining the potential of a CBDC to strengthen public confidence in the central bank and its financial services. However, the bank remained largely concerned about potential related risks like its impact on financial stability and possible threats to the traditional banking system.Earlier this year, Ukraine’s Ministry of Digital Transformation entered into a partnership with the Stellar Development Foundation to jointly develop a strategy for digital assets and CBDC infrastructure.
  • A trade war misstep? China is vacating crypto battlefield to US banks News - 2 days ago
    Why is China forsaking cryptocurrencies at the same time that legacy U.S. banks, long wary of crypto, appear to be discovering its virtues? At the same time that China has declared war on cryptocurrencies, giant American banks appear to be embracing crypto — evident the final week of July with the news that crypto firm Lukka will provide State Street Bank’s private fund’s clients with digital and crypto asset fund administration services. This follows forays into the crypto space from the likes of BNY Mellon, JPMorgan, Citigroup and Goldman Sachs among traditional bank heavyweights.Is it too early to speak of trend and counter-trend? And if a trade war has broken out between the United States and China, as many believe, why is China turning its back on cryptocurrencies while some of the West’s largest financial institutions, long wary of crypto, appear to see fresh value in blockchain-based digital currencies? “Yes, U.S. banks are firmly embracing Bitcoin as an investment tool,” Nik Bhatia, author of the book Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies and adjunct professor of finance and business economics at the University of Southern California, told Cointelegraph, adding, “JPMorgan and Goldman, for example, have greenlit Bitcoin investment products such as GBTC (Grayscale) for their clients.”“We can see that banks and other financial institutions, such as JPMorgan and Citi, are starting to realize that blockchain technology is not just a passing trend,” Bobby Ong, co-founder and chief operating officer of CoinGecko, told Cointelegraph. He added that “as such, they are beginning to explore ways for them to offer cryptocurrency products to their clients.”But what’s with China? Since the beginning of summer, it has taken steps to curb — if not outright ban — cryptocurrency mining and trading. Do China’s financial guardians know something that U.S. bank leaders don’t?“China doesn’t like crypto. It’s not a sovereign currency, and it’s beyond the Chinese government’s control,” Raymond Yeung, author of China’s Trump Card: Cryptocurrency and its Game-Changing Role in Sino-US Trade, told Cointelegraph, adding, “Even if it’s mined in China, it’s still not administered by them — it’s bypassing the PBoC (People’s Bank of China). That’s not acceptable.”“China is a state that wants to keep everything under its control,” agreed Ong, adding, “This can be seen from the recent crackdown on tech firms and even private education firms.” Bitcoin’s decentralized structure gives Chinese authorities fits, he suggested, and they would much prefer to create something that they can manage, like their digital yuan, which is in the process of being rolled out.It doesn’t help that Bitcoin (BTC) mining uses so much energy and contributes to global warming, either, Yeung further explained. China has pledged to achieve carbon neutrality before 2060, and its “emissions target is real.” The government is already imposing emissions restrictions on the country’s steel industry, and it just introduced a national emissions trading scheme. Bhatia added, “China does not want Bitcoin miners hogging their [energy] grid.” Has China made an error of judgement?If a trade war is indeed underway between the U.S. and China, hasn’t China miscalculated, though, by shutting down BTC mining operations, especially since North American miners are only too happy to take over China’s role as the world’s crypto mining center?“It might very well be a huge blunder, as hash rate that comes offline is very hard to get back,” Bhatia said, adding, “That hash power has likely left China forever.”“I think it’s difficult to say what China’s goals are in this particular situation,” commented Ong. He added, “They are aggressively trying to introduce the digital yuan as the de facto currency in the country and as a proxy to reduce the world’s reliance on the U.S. dollar.” As a result, when it comes to the core objective, this may not be a bad move: “It is in line with their goals of pushing for a centralized currency that is completely traceable by the government.”There may be some nuances with regard to Bitcoin mining, too. The People’s Republic of China could be using the mining crackdown to drive down the price of Bitcoin so the state can purchase more BTC at a cheaper price, Bhatia suggested, further explaining to Cointelegraph: “They might not care about mining rewards anymore. They could be trying to acquire billions worth of Bitcoin and using the mining ban as misdirection. They could also be using the coal-mining ban as proof that China is serious about climate change in order to receive a more favorable standing on the global scene.”Others agreed that China might have a hidden agenda. The “crackdown on Chinese miners might mean that they are offloading coin into a thin market and taking us lower,” according to Ben Sebley, chief growth officer of crypto firm BCB Group. Blockchain, but not cryptoYeung, on the other hand, believes that China is serious about washing its hands of Bitcoin and other cryptocurrencies, but that doesn’t mean it is necessarily forsaking crypto’s underlying blockchain technology.“The government is willing to sacrifice BTC or Ether,” Yeung told Cointelegraph, “but they don’t want to sacrifice blockchain technology.” There is still a lot going on in China in terms of blockchain technology development. “The government treasures the technology, but not crypto itself.” Moreover, as the government has stated, “crypto is a source of financial risk,” said Yeung, adding further, “They want to control crypto, but they can’t. But they can still embrace blockchain technology, which they believe will improve productivity and spur economic growth.” Related: Death knell for Chinese crypto miners? Rigs on the move after gov’t crackdownMeanwhile, U.S. banks are acting like crypto’s summer swoon never happened. “The growth in popularity of digital assets is showing no signs of a slowdown,” said Nadine Chakar, head of State Street Digital, adding that State Street “is committed to continuing to build out the necessary infrastructure to further develop our digital assets servicing models.” “There is growing acceptance of Bitcoin’s role in being a hedge on the current fear of currency debasement,” Ong…
  • Bitcoin accumulation accelerates among ‘whales’ and ‘fish,’ while BTC rallies to $40K News - 2 days ago
    “This is just on-chain sentiment, though. The big question is, how does that correlate to the price action in general?” Both small and rich Bitcoin (BTC) traders accumulated the benchmark cryptocurrency en masse during the period when its prices rose from below $30,000 to over $40,000, signaling their confidence in the asset’s long-term bullish setup.The basis of the upside outlook came from Ecoinometrics, a crypto-focused newsletter service. It highlighted in its latest edition a flurry of on-chain data that tracked the flow of Bitcoin into wallets that belonged to the richest crypto traders, known as “whales,” and to entities that held the cryptocurrency in smaller quantities — the so-called “small fish.”“After a couple of weeks of data showing that most address buckets are accumulating coins, Bitcoin is finally bouncing back from the $30k level,” wrote Nick, the author of the Ecoinometrics newsletters, as he highlighted a heat map that witnessed Bitcoin flowing into the small fish and whales’ wallets.Bitcoin accumulation trends. Source: Coin MetricsThe color red points to a situation, in which every group — whales or fish — has accumulated Bitcoin in the past 30 days. Conversely, the color blue corresponds to situations wherein only the smaller fish have accumulated the digital asset in the same timeframe.Bitcoin’s heat map has returned to red.“We can do the same plot for the current cycle and we observe pretty much the same thing,” noted Nick while pointing to the July 2020–July 2021 graph as follows.Bitcoin accumulation trends in the past 12 months. Source: Coin MetricsMoby Dicks everywhereData from other sources matched the Ecoinometrics’ analogy. For instance, crypto-focused data tracking service WhaleMap reported Thursday that the number of unspent transaction outputs currently belonging to Bitcoin whale wallets has spiked, thereby suggesting their intentions to wait for higher prices.Bitcoin’s inflows to whale wallets jump. Source: WhaleMap“The last whale bubble in our range,” tweeted WhaleMap. “Get above $40,472 and the next resistance is only at around 47k. Whale bubbles for the win.”Fundamental backdropThe fundamentals backing whales’ involvement in the current Bitcoin rally pointed to fears of persistently rising inflation despite United States Federal Reserve Chairman Jerome Powell’s attempts to sideline the issue in his recent press conference on Wednesday.Powell admitted that inflation has surpassed the Fed’s projections for 2021 but blamed it on the unusual nature of the U.S.’ economic recovery. He noted that supply bottlenecks have created shortages that have led to “temporary” price increases.The comments appeared as the Fed continues its expansionary policy of near-zero interest rates and $120 billion a month in bond purchases that, as the Wall Street Journal editorial noted, could have been stopped two months after its launch in March 2020.The journal cited the National Bureau of Economic Research’s report of last week, which noted that the U.S. recession officially ended in April 2020. U.S. inflation has soared more than what the Federal Reserve has anticipated. Source: Bureau of Economic Analysis and Bureau of Labor Statistics “The FED has a real challenge ahead balancing its response to a global pandemic with low rates and seemingly rising inflation,” Jeffery Wang, head of Americas at Amber Group, told Cointelegraph, calling it “an extremely difficult situation” for central banks running their quantitative easing programs.Wang added that the backdrop of cheap money and rising inflation creates a bullish narrative for flight-to-safety assets such as equities, real estate and Bitcoin. He said:“From here, I think crypto and BTC will still be considered an asset that, while highly volatile can be a hedge against inflation and should do well in this environment.”Pankaj Balani, CEO of the crypto derivatives platform Delta Exchange, meanwhile, anticipates Bitcoin to continue its bull run toward $50,000, citing options activity that he said remains heavily skewed to the upside at least until mid-August.Related: Bitcoin traders express mixed emotions about what’s next for BTC price“There is call buying activity across maturities — weekly, bi-weekly and monthly,” Balani told Cointelegraph in an email statement. “Fifty thousand (50K) strike for August expiry is highlighted here and has the highest OI. Once again there is not much OI between 45,000 and 50,000 strikes (for the Aug expiry) and we can see sharp moves here.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Coinbase Ventures backs Ethereum-based streaming network News - 2 days ago
    Livepeer’s $20-million Series B funding round saw participation from large VCs, including Coinbase Ventures, CoinFund, Northzone, 6th Man Ventures and Animal Ventures. This year has been foundational for the success of projects running on the Ethereum blockchain. Sharing the limelight is Livepeer, an Ethereum-based video streaming network that announced it had raised $20 million in a Series B funding round. Led by Digital Currency Group, the funding for Livepeer saw participation from large venture capitalists, including Coinbase Ventures, CoinFund, Northzone, 6th Man Ventures and Animal Ventures. Based on the announcement, Livepeer’s latest funding will be used to build an in-house protocol to experiment with livestream use cases, such as scene classification, object recognition, song-title detection and video fingerprinting. Previously, Northzone led the institutional funding round and raised $8 million for Livepeer. The company currently runs a network of 70,000 graphics processing units complementing the underlying Web 3.0 technology.Cointelegraph has recently reported on the impressive 15% price movement of Livepeer’s LPT token alongside Bitcoin’s (BTC) bullish wave. Related: Large VCs are sidelining smaller crypto investors, PwC crypto lead saysA recent report from Cointelegraph showed how increased valuations of crypto businesses are causing smaller investors to miss out on the latest innovations, according to PricewaterhouseCoopers crypto lead Henri Arslanian. Reflecting on the large-scale VC investment deals, Arslanian stated that the early-stage companies with a valuation of $5 million–$20 million used to see the involvement of smaller investors. On the other hand, he continued:“If your minimum ticket size is around $50 million, there aren’t that many companies that have that status yet.”Prominent crypto exchange FTX has also been at the receiving end of large VC funding, which has inflated its valuation by 1,400%. Ever since, FTX’s valuation stands at $18 billion after seeing investments from VC giants including Multicoin, VanEck, Paul Tudor Jones, Softbank, Sequoia Capital and Coinbase Ventures.
  • New bill proposes US Treasury to have full authority over fiat stablecoins News - 2 days ago
    The bill also calls for the U.S. Federal Reserve to be vested with the clear authority to issue a digital dollar. A new bill introduced by United States Representative Don Beyer of Virginia has proposed a far-reaching regulatory and legal framework for digital assets across the board.Entitled “The Digital Asset Market Structure and Investor Protection Act of 2021,” the bill touches on virtually all the important gray areas that continue to exist regarding cryptocurrencies in the U.S. context. One of its primary goals is to establish statutory definitions for digital assets and digital asset securities, bringing the former under the purview of the Commodity Futures Trading Commission (CFTC) and the latter under that of the Securities and Exchange Commission (SEC). Both the CFTC and SEC would be tasked with providing legal clarity regarding the regulatory status of the top 90% of crypto assets by market cap and trading volume.Moreover, the bill seeks to formalize regulatory requirements for all digital assets and digital asset securities under the Bank Secrecy Act, classifying both as “monetary instruments” in order to strengthen transparency, reporting and Anti-Money Laundering enforcement. When it comes to central bank digital currencies, the bill seeks to pave the way for the Federal Reserve to issue a digital dollar by explicitly designating it as the only institution with authority to do so. Notably, it calls for the U.S. Treasury Secretary to have the power to either permit or prohibit U.S. dollar and other fiat-based stablecoins.Details of the proposed investor protection measures include requiring the Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA) and Securities Investor Protection Corporation (SIPC) to issue explicit clarifications as to the “non-coverage” of the digital asset sector so that investors are clearly aware their assets are not insured in a similar manner to traditional bank deposits or securities.Related: Senators add crypto taxes to infrastructure deal to raise $28B in extra revenue To prevent fraud, the bill proposes that any digital assets that are not recorded on a public distributed ledger within 24 hours should be reported to a CFTC-registered digital asset trade repository. The text of the bill defines the latter as follows: “The term ‘digital asset trade repository’ means any person that collects and maintains information or records with respect to transactions or positions in, or the terms and conditions of, contracts of sale of digital assets […] entered into by third parties (both on-chain public distributed ledger transactions as well as off-chain transactions) for the purpose of providing a centralized recordkeeping facility for any digital asset.”However, the term does not mean the private or public ledger itself nor its operator, unless it or they seek to aggregate or include off-chain transactions as well.As reported, Treasury Secretary Janet Yellen has recently told financial regulators that the government needs to act quickly to establish a regulatory framework for stablecoins, noting that they pose possible risks to end-users and could have a wider impact on the country’s financial system and national security.
  • Binance banned in Malaysia, given 14 days notice to shut down operations News - 2 days ago
    The crypto exchange has been served with a notice to stop offering its services in the country. Malaysia is the latest regulatory theater to come after Binance as authorities in the country have accused the exchange giant of continuing to operate in the country illegally.According to an announcement released on Friday, the Securities Commission (SC) Malaysia has served a public reprimand against Binance, calling for the exchange and all of its entities to cease operations in the country.The SC stated that Binance continued to operate in Malaysia despite previous warnings. Indeed, back in July 2020, Cointelegraph reported that Binance was not permitted to operate in Malaysia.At the time, the SC published an “Investor Alert List” containing several digital asset exchanges offering services in the country without due authorization from Malaysian regulators.Binance has 14 business days from Tuesday to comply with the order that includes disabling its website and mobile apps, as well as discontinuing any media campaign for its services in the country. The announcement also mandated that Binance’s CEO, Changpeng Zhao, ensures full compliance with the order. Malaysia’s securities regulator also urged citizens to desist from trading with crypto exchanges operating in the country illegally. Responding to Cointelegraph’s request for comments, a spokesperson for the exchange explained that does not operate out of Malaysia, adding: “Binance takes a collaborative approach in working with regulators in navigating this emerging industry and we take our compliance obligations very seriously. We are actively keeping abreast of changing policies, rules and laws in this new space.”Related: Binance CEO wants to ‘work with regulators’ as the exchange expandsThe news out of Malaysia concerning Binance is only the latest in sweeping regulatory actions specifically targeted at the exchange giant. From warnings to investigations and now outright bans, the platforms appear to be under the cosh of financial watchdogs across the globe.Earlier in July, Italy’s financial regulator issued a warning against Binance, stating that the platform was not authorized to offer services in the country. Apart from Italy, countries like Germany, Poland, Japan, Thailand, Singapore, the United States and the United Kingdom, among others, have also issued warnings about Binance.Binance, for its part, has taken steps to mitigate the situation, with its CEO promising to work with regulators amid plans for even further expansion across the globe. There has also been a flurry of policy changes at the exchange with withdrawal limits reduced for users who are yet to complete the platform’s identity verification protocols.Meanwhile, the exchange has also announced plans to shut down crypto derivatives trading in Europe, beginning with Germany, Italy and the Netherlands.
  • Crypto-friendly app Robinhood loses 8% in public Nasdaq debut News - 2 days ago
    Unlike traditional IPOs with a six-month lockup period, Robinhood will allow its employees to sell 15% of its shares immediately after the public debut. Shares of cryptocurrency-friendly trading app Robinhood dropped more than 8% in its public Nasdaq debut on Thursday, marking one of the worst initial public offering (IPO) debuts of its size.Robinhood’s HOOD stock tumbled 8.4% below the IPO price in the company’s first trading session on Thursday, dropping from $38 to $34.82. The company went public on Nasdaq at a $32 billion valuation to see its market capitalization fall to $29 billion after the HOOD stock ended the session below $35.According to data compiled by Bloomberg, the company’s first trading day marked the worst debut on record among 51 firms in the United States that raised as much cash as Robinhood or more. The company reportedly flipped the 2007 IPO by MF Global Holdings brokerage as the worst debut among qualifying firms, which ended its first day down 8.2%.According to a CNBC report, Robinhood sold 52.4 million shares, raising nearly $2 billion, with co-founders Vlad Tenev and Baiju Bhatt each selling about $50 million worth of stock. Unlike traditional IPOs with a six-month lockup period, Robinhood will allow its employees to sell 15% of its shares immediately after the public debut. Investors will be reportedly able to send another 15% after three months.Commenting on Robinhood’s public market debut, CEO Tenev stressed that the company was launched with a mission to democratize finance for all. “We built a mobile-first product that didn’t charge commissions or require account minimums. We didn’t build Robinhood for the rich or those with decades of experience,” he noted. Tenev promised that Robinhood will “remain the same” and keep its focus on its customers as the firm moves forward as a public company.As we move forward as a public company, that will remain the same. Our focus remains on you. We recognize the trust that you have put in us, and we will continue working hard every day to earn that trust.— VLAD (@vladtenev) July 29, 2021 Related: Robinhood introduces a feature aimed at protecting investors from crypto volatilityLaunched in 2013, Robinhood became widely known in the cryptocurrency community after the company started offering trading of major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) in February 2018. The company’s crypto-focused division has seen major growth this year with the Q1 performance posting a sixfold increase over the previous quarter.Despite Robinhood experiencing major growth in 2021, the company has been facing some controversy and increased attention from United States regulators this year over GameStop’s trading suspension in January. In April, Massachusetts’ securities regulators sought to revoke Robinhood’s broker-dealer license, alleging that the firm provided services to the state customers with little or no investment experience.
  • Binance to shut down crypto derivatives trading in Europe News - 2 days ago
    Binance moves to suspend derivatives trading in Europe, starting with Germany, Italy and Netherlands. Troubled global cryptocurrency exchange Binance continues moving fast in curbing services to respond to the ongoing regulatory scrutiny worldwide, partly shutting down derivatives trading.Binance officially announced Friday that it would suspend its derivatives trading across the European region, starting with Germany, Italy and the Netherlands. The company clarified that users in mentioned countries cannot open new futures accounts on Binance effective immediately.We’re continually evaluating our products and working with our partners to meet our users’ needs. Today we’re announcing that we plan to wind down our derivatives products offerings across the European region, commencing with the Netherlands, Germany, and Italy.— Binance (@binance) July 30, 2021 Binance added that the exchange doesn’t actively market futures and derivatives products locally, and it plans further to scale down access to these products in the region. “The European region is a very important market for Binance, and it is taking proactive steps towards harmonizing crypto regulations, which is a positive sign for the industry,” Binance wrote.The exchange noted that the latest move aligns with Binance’s commitment to engage in a constructive dialogue with global regulators regarding local requirements. Cointelegraph reached out to Binance and will update the story.Binance’s latest suspensions follow a series of new trading restrictions amid the company facing massive pressure from global regulators, including those in Germany and Italy. In mid-July, the Italian Companies and Exchange Commission said that Binance Group and affiliated companies were unauthorized to provide investment services and operate in the country. About a dozen other global financial authorities in countries such as the United States and the United Kingdom have posted related warnings in recent months.Related: Binance cuts withdrawal limits, rolls out tax reporting toolIn line with the company’s commitment to collaborate with regulators to offer its services legally, Binance has been actively limiting its services, delisting margin trading pairs for three fiat currencies and curbing maximum leverage positions from 125x to 20x earlier this week. Binance is also preparing to cut daily withdrawal limits from 2 Bitcoin (BTC) to 0.06 BTC in August.Despite Binance’s mounting regulatory challenges worldwide, the company’s CEO, Changpeng Zhao, apparently remains optimistic about the future of the cryptocurrency exchange. Last week, Zhao disclosed Binance US, a U.S.-based cryptocurrency exchange operating separately from Binance, is looking to go public.“Binance US is looking at the IPO route. Most regulators are familiar with a certain pattern or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen,” Zhao said.
  • MEV Harms Ethereum Users And it May Be Here For Some Time
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  • Want To Fix Financial Literacy? Focus on Billionaires & Politicians
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  • 'Don't Be Lulled' as European Commission Mulls a Crypto KYC Trap
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    While the European Commission (EC) says it is not targeting non-custodial crypto wallets, their new set of legislative proposals would still affect such users and the whole nascent sector. Niklas Schmidt, a lawyer and partner with the Austrian law firm Wolf Theiss, told that “in the context of an overhaul of the EU’s anti-money laundering rules, the
  • Bitcoin Noobing, Asset Teasing and 20 Crypto Jokes
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    Another fun cryptoweek is behind us. The boss of the world’s biggest listed hedge fund firm made bitcoin noob mistakes again, while the boss of a major fund manager said people should have exposure to BTC. Goldman Sachs DeFi ETF became a source of confusion, while Ripple deepened its relationship with SBI, teasing Ripple’s explosive growth in the larger Asia-Pacific region. The banking industry
  • Japan’s Crypto Titans Post High Crypto Biz Profits, Pivot Towards Altcoins
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    Two of Japan’s biggest crypto players – the financial giants the SBI and Monex groups – have posted high crypto profits in their second-quarter reports. Both firms have a range of diverse crypto interests, both at home and abroad. SBI operates two domestic crypto exchanges: SBI VC Trade and the TaoTao platforms, in addition to an international mining arm named
  • Chinese, Taiwanese Bitcoin Miners Eyeing Paraguay Move
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    The Itaipu Dam is a huge hydroelectric dam on the Paraná River between Brazil and Paraguay. Chinese bitcoin (BTC) miners are reportedly preparing to flock to Paraguay in their droves – with reports claiming that there could be half a million rigs online in the nation in the next three years if regulators do not block miners’ progress, with some industrial players
  • On Monday, Managers of USD 2trn Get Access to Crypto + More News
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    Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. ____ Investments news Starting Monday, 4,000 of Germany’s Spezialfonds will be allowed to invest up to 20% of their portfolios in cryptoassets. These special funds, available to institutional investors only, manage
  • Regulators Take Notice as Bragging Crypto Derivatives Traders Get Caught
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  • Start Betting With 1xBit For The Olympic Games While Receiving Crypto Bonuses
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    Disclaimer: The text below is a press release that was not written by After a significant delay, we now have the moment that everyone has been waiting for: the Tokyo Olympics 2020 have begun. We can now share the best moments with our friends and family while watching the results of one of the world’s most significant sporting events and waiting impatiently for the final results
  • Bitcoin Mining Difficulty Breaks the 2nd-Longest Drop Streak
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  • Bitcoin and Ethereum Correct Gains, Dips Remain Attractive
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  • Binance Winds Down Derivatives In Europe While Malaysia Takes Action
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    Source: Instagram, Binance The crypto exchange giant Binance has run into yet more regulatory trouble in Asia while it’s making new preventive moves in Europe. The platform issued a notice on its website explaining that it “plans to wind down its futures and derivatives products offerings across the European region. It claimed that it would begin with its operations in Germany,
  • US Digital Asset Bill 'Fairly Measured' But Raises Civil Rights Concerns - Attorney
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  • Start Your Digital Entrepreneur Career With WEWE Global
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  • Regulators Must Make Sea Change on Crypto, and IMF Is Ready To Engage
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  • Bitcoin Takes Pause While Ethereum, XRP Gain Bullish Momentum
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  • IT Specialist Caught Mining Cryptocurrency at Police Headquarters in Poland
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    Polish police have uncovered a secret crypto mining operation at their headquarters in Warsaw, local media reported. An IT specialist accused of minting digital coins on police computers has been dismissed and the case has been handed over to the Prosecutor’s Office. Polish Police Force Fires IT Specialist for Crypto Mining at Work Officers from […]
  • Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet
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    The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to diversify from traditional debt investment strategies. The wealth management firm allegedly has been looking for staff that […]
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  • Antier Solutions’ Crypto Exchange Script Solutions Helping Businesses to Reduce Their Time-to-Market by 50%
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  • India Reportedly Investigating Binance in Chinese Money Laundering Case
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  • Bear Market Over? Why Bitcoin Could Soar To $45K As Strong Holders Grow
    NewsBTC - 1 day ago
    Bitcoin has retaken the highs of its current range. The first cryptocurrency by market cap trades at $41,300, at the time of writing, with a 6% and 23.8% profit in the daily chart. The general sentiment in the market has flipped bullish, the fear and greed index signals greed for the first time in months. Other indicators, as many experts have pointed out, suggest a definite shift in the market. The bulls could see more green days in the coming weeks. Data from Glassnode, provided by the CIO of Moskovski Capital Lex Moskovski, recorded an increase in the amount of Bitcoin held by “strongest holders”. According to the Illiquid Supply metric, these holders have risen to an all-time high and suggest “bullish” price action. Charles Edwards, a founder at Capriole Investments, revealed an increase in long-term Bitcoin holders. According to the HOLD Waves metric, these types of investors have been growing their supply since the May 2021 crash. Edwards added: This type of sharp rise never occurred in the early stages of prior bear markets, suggesting that there is a chance the Bitcoin bull-cycle is still intact. Additional data provided by Edwards indicates that exchanges platforms had their “first positive outflows” since last week when Bitcoin made a run from its yearly open at around $29,000 to its current levels. This metric suggests that the demand in the crypto market could be returning and could support further appreciation. Days prior to the current price action, Bitcoin dropped from about $35,000 to its yearly open, as mentioned. Edwards called this price action a “failed breakout”, as sellers were exhausted at those lows and were unable to push the price further down. He added: The ensuing squeeze to the upside was supported by a heavily short market, with over-exposure to stable-coin contracts. This resulted in a short squeeze over the last week which culminated on the candle highlighted (…) Bitcoin Fundamentals Turn Positive, Bulls Back In Control? Edwards reviewed other indicators, such as the Hash Ribbons metric and believes it looks “promising”. The metric saw an important decline after China banned Bitcoin mining from the country. Miners had to migrate to friendlier destinations. The Bitcoin hash rate and its Energy Value has been rising. Edwards found that both of this metric grew around 8%, indicating that the miners’ migration has ended. Another bullish factor, since these entities can stop selling BTC; the market could see selling pressure diminish. However, investors must remain cautious: Hash rate is showing a positive and strong trend, not dissimilar to December 2018, suggesting the bottom could be in. However, Hash Rate can give various false positives during capitulation. This is why we remain cautious until the Hash Ribbon buy signal is confirmed. In the coming days, Bitcoin could see more accumulation around its current levels with a “higher chance” of another leg up to the mid-range, $45,000. If BTC’s price retraces, the invalidation zone stands at $39,000. The macro-economic outlook presents a potential tailwind and risk for Bitcoin. Edwards claims that the U.S. Federal Reserve and its inflationary monetary policy could continue to boost BTC if the financial institution keeps printing money. There is a potential risk in the traditional market. If the stock market crashes, Bitcoin could follow. The cryptocurrency has displayed a high level of correlation with the S&P 500. In consequence, it could hurt its chances to reclaim previous highs in case of a dropped. Edwards concluded: For now, fundamentals and technicals are skewed towards the upside, and our base case is we will move towards the mid- to high-$40Ks over the coming weeks. In the near-term this thesis would be validated if we breakdown below $39K. Finally, Bitcoin cycle history tells us to be wary of significant volatility and downside risk until conditions are further improved.
  • Massive Rewards Up For Grabs In The Phemex Olympics Trading Competition
    NewsBTC - 1 day ago
    Cryptocurrency exchange Phemex has announced it is hosting an Olympics competition for traders. The competition will give traders a chance to earn rewards based on their trading volume and return on investments (ROI). The competition is scheduled to start at the end of July on the 30th. Kick-off time has been placed at 8 AM UTC. The Olympics will run for two weeks until August 13th at 8 AM UTC. Check the Phemex Olympics website to register and monitor your progress. Phemex has decided to take a page from the playbook of the Tokyo Olympics, which was recently kicked off. They’re giving their own “players” a chance to win prizes in their own sport of crypto trading. Traders will be ranked according to their trading volume and speed of achieving a certain ROI. Participants in the competition only need to sign up for Phemex and meet the requirements for enrollment. Phemex Olympics Trading Competition Rewards The Phemex competition is divided into two categories. Based on which requirements they meet, users can participate in one or both categories of the Phemex Olympics. These categories include weightlifting, ranked by highest trading volume at the end of the event, and sprinting, based on who can reach 500% ROI the fastest. Weightlifting competitors will be rewarded based on the following table: Prize/Participants <250 250-500 >500 Rank 1 10,000 USD 12,500 USD 20,000 USD Rank 2 5,000 USD 7,500 USD 10,000 USD Rank 3 3,000 USD 4,000 USD 5,000 USD Rank 4-6 1,000 USD 2,000 USD 3,000 USD Rank 7-10 500 USD 1,000 USD 1,000 USD Total 23,000 USD 34,000 USD 48,000 USD Sprinting competitors will be rewarded based on the following table: Prize/Participants <1000 1000 1500 2000 2500 >3000 Rank 1 2,000 USD 4,000 USD 6,000 USD 8,000 USD 10,000 USD 20,000 USD Rank 2 1,500 USD 2,000 USD 3,000 USD 4,000 USD 5,000 USD 8,000 USD Rank 3 1,000 USD 1,500 USD 2,000 USD 2,500 USD 3,000 USD 6,000 USD Rank 4-10 500 USD 600 USD 700 USD 800 USD 900 USD 1,500 USD Total 8,000 USD 11,700 USD 15,900 USD 20,100 USD 24,300 USD 44,500 USD Competitors will be subject to different rules and requirements for each category. For a full list of rules, please review the official Phemex Olympics announcement. Phemex Terms And Conditions Calculations for ROI will be done on Individual PNL. This includes the initial balance on the trading account, the number of deposits to the account during the competition, commissions earned for the duration of the competition, and the bonuses received on the account during the competition. Users can participate in both categories but are only allowed to use main accounts. Sub-accounts are not allowed in the competition. Also, batch account registrations, profits from market manipulation, and using APIs in the Weightlifting category will result in immediate disqualification. APIs are only allowed in the Sprinting category. Rewards will be distributed 15 days after the competition ends. Amounts of bitcoin awarded to participants are subject to the OTC settlement exchange rate on the day they are paid out. Phemex reserves the right to adjust the converted prices and the right to make final and binding amendments to the rules. Phemex will display participants’ current trading volume ROI on the Phemex Olympics landing page. This page will be refreshed every 10 minutes to show the current progression of each participant.    
  • Commercial Paper Reserves Of Tether Under Heavy Regulatory Scrutiny
    NewsBTC - 1 day ago
    Tether has been facing a lot of pressure from regulatory authorities. Now, the attention of the watchdogs has shifted to its commercial paper reserve. As a result, this week has been very hot for the company. The regulators focus their attention on what makes up the Tether reserves. Related Reading | Cardano Aims To Facilitate Users With Smart Contracts A report disclosed that Tether’s Michael Hsu said that the US regulators focus their attention on the paper to know if every Tether Token is actually backed by $1 as the company claims. US Regulators Scrutinize Tether From what we learned, the regulators investigating Tether are led by Janet Yellen, the US Treasury Secretary. Before now, Yellen has held some meetings about the possible risks of stablecoins. Now, the ” President’s Working Group on Financial Market” aims to know if Tether really holds large amounts of commercial papers as it claims. Commercial papers usually represent debt instruments that companies issue to investors for short-term funds. However, the Working Group does not believe the claims as it compares it to a mutual fund that can lose its investors in one day. Presently, the total USDT in circulation is 62 billion. So, there seems to be a legitimate cause for alarm. The crypto market is back in the bullish mode as BTC climbs above the $40k mark | Source: Crypto Total Market Cap on Last two months, Tether had revealed the composition of its total reserves. According to the stablecoin, it had more instruments that were not just cash or cash equivalents, such as bonds, secured loans, bitcoin, and a larger portion comprising of commercial papers. Related Reading | Tether To Conduct An Audit To Negate Claims Concerning Transparency While talking with sources, Stuart Hoegner, the Tether general counsel, revealed that the company is planning a thorough audit in some months to come. Let’s recall that Tether hasn’t carried out such audits before now, and the announcement helped a lot of investors to breathe easier. However, on July 19, Yellen was heard asking lawmakers to establish rules that will guide stablecoins in the financial market. More Calls on Crypto regulations After calling for regulations on stablecoins, Yellen received a letter nine days later from Senator Elizabeth Warren asking her to push for greater regulation for the cryptocurrency industry as a whole. During a hearing of the “Senate Banking Committee,” Warren also stated her negative position about the crypto industry. According to her, it was better to hand over the financial systems to giants banks than some nameless and faceless, shadowy miners and super-coders. Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives However, during the hearing, an Anderson Kill Law partner, Preston Byrne, stated that the most frightening of all is that Elizabeth Warren is in control of the financial system. Elizabeth is a democrat who has been serving as a United States Senator since 2013. Featured image from Pixabay, chart from
  • How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT
    NewsBTC - 1 day ago
    NFTs are becoming the next big thing in the crypto market as more investors get on board with projects surrounding them. Non-fungible tokens like the “Stoner Cats” NFTs was released with huge success in their communities. Non-fungible tokens which mostly revolved around art when they were first released has now expanded into a wider domain. Increasing support for NFTs has shone through with e-commerce giant Shopify adding merchant support for non-fungible tokens. And most recently, Coca-Cola partnering up with Tafi to launch its very first collection of non-fungible tokens. The non-fungible tokens include files like images, audio, and video. Related Reading | Are NFTs Dead? New Game Changing Trends Now comes one of the most interesting uses of none-fungible tokens so far and that is 26-year-old Polish influencer Marta Rentel announcing she has sold her love online as an NFT. The NFT sold for $250,000 and the lucky buyer gets to go on a date with the influencer. Selling “Digital Love” Talking about the sale, Rental explained that she wasn’t selling her physical love. But was rather selling the love of her online persona. “Nothing on the Internet is physical,” Rental said. “It’s part of my online persona.” The 26-year-old Polish influencer boasts over 600,000 followers on Instagram and goes by the name of Marti Renti online. The influencer explained that she wanted to be the first person in the world to tokenize emotions. Related Reading | TABOO Set to Launch First-Ever NFT Collectibles for Supermodels This remains a novel idea, as one would scratch their head trying to figure out exactly how they would tokenize emotions. But Rentel believes that love can be separated into physical love, platonic love, and most importantly, digital love. With each one being just as real as the other. Rentel confirmed the sale of the NFT but added that she did not know who had bought it either. The identity of the buyer seems will remain unknown until the date with the influencer. NFTs As A Store Of Value NFTs are gaining more support given what they represent. With this, people can show that they undisputedly own a piece of artwork or anything else being sold as a non-fungible token. Information about the work and the owner is written directly to the blockchain where everyone can see who the owner of the piece is. This has been especially popular amongst artists as this provides them a way to directly sell their art. And also helps to combat people using their work without properly paying or licensing it. Related Reading | Banksy’s Infamous ‘Spike’ Artwork Becomes an NFT The information on the blockchain is impossible to edit or remove. So every and all record regarding a sale is put on the blockchain, which basically acts as a digital ledger for the sale. Marta Rentel does not stop at selling her “love” as an NFT. The influencer plans to continue to sell her Instagram photos and YouTube videos as non-fungible tokens. Featured image from Kindpng
  • Five Bullish Monthly Charts That Suggest Bitcoin Will Blast Off
    NewsBTC - 2 days ago
    Tomorrow is the last day of the month of July, and Bitcoin is at a pivotal moment in its lifetime. The crossroads of a possible bear market or bullish continuation is here, and the path chosen will dictate the trend for potentially months or years to come. The monthly timeframe could provide clues as to what might be next, and we’ve got five ultra bullish technical charts and reasons why Bitcoin is more likely to blast off than fall further from here. Critical Monthly Close Could Determine Crypto Cycle Crossroads Bitcoin is back at around $40,000 after a long drawn out and dramatic fall to $30,000. Each sweep below the support level was bought up, but resistance above also has yet to crack.  The reason for the stalemate between the two levels, is because price action on monthly timeframes is trapped between the Tenkan-sen and Kijun-sen. The last bear market was kicked off by losing such level. The monthly candle is also holding at support, which is something that failed to happen in early 2018. The Ichimoku is currently bullish on the top cryptocurrency | Source: BTCUSD on The two smaller bodied candles from June and July appear similar in structure as the pair that set the bear market bottom around $3,000 and has never yet been broken. Related Reading | Ready To Run: Bitcoin Forms Best Performing Bull Market Bottoming Pattern The Japanese candlestick pattern is also forming just as Bitcoin price brushes up against a long-term parabolic curve. A similar sized move up from the 2018 bottom might resembled the measured target from here. Candle structure matches the bear market bottom | Source: BTCUSD on Although the below chart demonstrates the TD sequential indicator at a red 2-count, which would suggest any downtrend is in its early stages (compare to past counts for examples). But in bulls favor, support has fallen back to where a TD 9 count was previously broken on the high timeframe. Support is holding where the trend became interesting | Source: BTCUSD on Bitcoin Bull Stampede Could Be Brewing, According To Technicals The bullish signals on the monthly timeframe simply just don’t stop there. Bitcoin price has plenty more to suggest the bull run is nowhere yet finished. The next signal is from the Relative Strength Index, which suggests that although Bitcoin got overheated very quickly during this last impulse, the bull run would barely be a whimper compared to the last rally. RSI support is holding | Source: BTCUSD on The RSI is holding at a level that prompted that last major bull market of 2017, and has begun to turn back higher. If the same reading is taken from the point of support during the last bull market, the RSI suggests there’s a lot more room for bulls to run this cycle. Related Reading | Bitcoin Indicator Forecast Calls For $46K, New All-Time Highs Possible Finally, there’s the LMACD, which is narrowly escaping a bearish crossover. There’s no bearish crossover… yet | Source: BTCUSD on The LMACD is the logarithmic version of the moving average convergence divergence indicator, and is better suited for use with Bitcoin. Past bear crosses on the monthly timeframe led to extended downtrends, while narrowly crossing in late 2020 led Bitcoin’s charge to $60,000 per coin. All of the charts combined suggest that any bearish action on lower timeframes, was nothing more than a shakeout of epic proportions. However, only time will tell, and there is still more than 24 hours left before the clearly critical monthly candle comes to a dramatic close. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from
  • Huge Bitcoin Inflow To Gemini Behind The Drop To $38k?
    NewsBTC - 2 days ago
    On-chain analysis shows that crypto exchange Gemini observed huge Bitcoin inflows just before the plunge down to $38k. Huge Bitcoin Inflows To Gemini As pointed out by a CryptoQuant post, crypto exchange Gemini saw huge inflows earlier today resulting in a positive spike in the netflows. Before examining the data, here are some quick definitions for the relevant terms. The exchange inflow is the amount of BTC sent from personal wallets to the exchange platform. Similarly, the outflow is the BTC that was transferred out of exchanges to personal wallets. The netflow is just the difference between the value of the inflow and the outflow. When the value of the netflow is positive, it means more BTC is entering the exchange than exiting. Such a  spike would mean that investors want to sell off their Bitcoin, and thus there is a selling pressure in the market. On the other hand, when this indicator is negative, it implies a buying pressure in the market as more BTC is traveling out of exchanges than in. Now, here is how the Bitcoin netflow chart for the Gemini crypto exchange looks like: The Gemini BTC netflow notices a huge positive spike | Source: CryptoQuant As the above graph shows, Gemini has just witnessed a spike in the Bitcoin netflow. Interestingly, BTC’s price plunged down to $38k from just under $40k right after these inflows. Related Reading | 8 Green Candles: Here’s What Happened The Last Time In Bitcoin The chart also shows that the other big positive netflows also seem to have been followed by drops in the crypto’s price. This does make it seem like there is a correlation between the netflows on Gemini and BTC’s price. BTC Price At the time of writing, the Bitcoin price floats around $k, up % in the last 7 days. The cryptocurrency’s gains for the month are around %. Here is a chart that shows the trend in the price of BTC over the last 24 hours: BTC witnesses a sharp fall from about $40k to $38k | Source: TradingView After being range bound for quite the while, Bitcoin finally saw some significant price movement as its price touched $40k. The cryptocurrency has seen 9 up days, something the coin hasn’t seen since 6 years ago. However, today it seems like BTC has finally dropped a little so today won’t be a positive day. As explained before, this plunge down to $38k is likely due to the Gemini inflows. Related Reading | TA: Ethereum (ETH) Outpaces Bitcoin, Why Bulls Aim Larger Increase In the past, there have been similar instances where Gemini inflows caused sharp downtrends. However, they don’t necessarily mean a drop will happen. It could still be worth keeping an eye on the crypto exchange’s netflow for any possible hints, nonetheless.
  • Celebrate With Crypto As Ethereum Turns Six Years Old
    NewsBTC - 2 days ago
    The Ethereum community celebrates 6 years since the network was launch. The platform host some of the most important crypto trends, from decentralized finances (DeFi), non-fungible tokens (NFTs), and is currently in the process to migrate from a Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). Ethereum has gone from process thousands of transactions to around 1.2 billion, according to data provided by Etherscan. The network settles trillions of dollars in value every year, said the co-founder of EthHub Anthony Sassano, who reviewed the platform’s history to celebrate this major achievement. At the time of writing, Ethereum trades at $2,338 with a 636% profit in the 1-year chart. In this period, ETH has climbed from the low hundreds to an all-time high at over $4,000, on the back of its “infinite” potential, as many on its community claim. In terms of market cap, ETH holds the second position in the top 10 with a worth of $273 billion, right behind Bitcoin with $732 billion. The events that will allow Ethereum to migrate to its “Beacon Chain”, its upcoming upgrades in terms of scalability, its transition to deflationary model with EIP-1559 have led some to believe ETH will eventually flip Bitcoin and take the number one spot in every metric. As Sassano recalled, the Ethereum mainnet was launched on July 30th, 2015, after an ICO where investors could acquire 1 ETH for $0.30. In 2016, the network experienced one of its most infamous episodes with “The DAO” hack: (…) event which was spectacular in both good and bad ways. 2017 was Ethereum’s first breakout year with it leading the bull market due to ICO mania (and a lot of hype around proof of stake). Then came 2018 which was a very sobering year for Ethereum. After a multi-year bear market, the network and ETH have returned to “a rocket ship with no signs of slowing down”. Sassano calculates the return of those lucky enough to first invest in the ICO in around 7833x, and with potential future appreciation. Is The Ethereum Flippening Imminent? The NFTs and DeFi are already worth billions of dollars after just a short period since they made their way into a portion of the world population. Many artists, creators, and celebrities are trying to leverage NFTs to bypass a product’s traditional distribution and achieve a deeper connection with its audience. The latest mania was driven by the adult animated series “Stoner Cats” which requires viewers to purchase an NFT to access the content. The show was produced by Mila Kunis and the inventor of Ethereum, Vitalik Buterin, was part of the cast. On the other hand, data from DeFi Pulse indicates that the DeFi sector has $67 billion in total value locked (TVL). Uniswap, SushiSwap, Compound, Yearn Finance, MakerDAO, and other DeFi protocols allow thousands of users to maximize their profits and create new investment strategies without the intervention of a third party. This has been acknowledged by J.P. Morgan, Goldman Sachs, and other titans in the traditional market that consider Ethereum a key component of the future of finances. As Pseudonym user LiveLambo said via Twitter, the ecosystem created on top of this platform has grown to unprecedented levels and justifies the name that has been bestowed on Ethereum, the “Infinite Machine”.
  • Cardano (ADA) Launches Connector For DApps Integration
    NewsBTC - 2 days ago
    Cardano (ADA) continues to move further in its smart contracts integration on its blockchain. Cardano announced about a week ago that it had successfully completed the long-awaited Alonzo White Hard Fork. And with this, the project was moving on to the next phase of the integration. Smart contracts on the Cardano network will allow developers to build decentralized finance (DeFi), NFTs, decentralized identity (DID), and countless other things not the network. This is why the move to smart contracts support is very important for the network. Related Reading | Cardano (ADA) And Dogecoin (DOGE) Record Highest Gains As Crypto Market Surges Continuing on down this road, Cardano has now launched a connector for DApps integration on the network using its Yoroi Wallet. Yoroi Wallet comes from the commercial arm and solutions provider of the Cardano Ecosystem known as EMURGO. The Beta version of the connector was announced four months ago via a press release on the EMURGO website. This was in an effort to make a way for Cardano (ADA) and Ergo (ERG) users to be able to make DApp transactions on the blockchain with no problems. Related Reading | Cardano (ADA) Demand Rises Amongst Retail And Institutional Investors, Why This Is Happening The connector provides more incentives for DeFi developers to build solutions and services on the blockchains. And with Yoroi Wallet, seamlessly transfer between both networks. After months of Beta testing, Yoroi Wallet has announced that the App connector is now available for users on the blockchain. The connector will increase adoption worldwide on the network. Bringing more and more people into the decentralized global operating system that was made for a user base that spans around the globe. A @YoroiWallet dApp connector will allow interactions between users and blockchain-based dApps on the Cardano blockchain. We are excited for you to read our new blog on our upcoming release and what it means for our users and the Cardano ecosystem! — Yoroi Wallet (@YoroiWallet) July 29, 2021 Functions Of Cardano’s Yoroi Wallet Connector The Yoroi Wallet connector provides a much-needed bridge between users and blockchain-based decentralized apps (DApps) to enable them to access the services they require. The DApp connector will allow users to carry out activities permitted by the DApp that they are currently accessing. Related Reading | Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO These activities include the buying and selling of tokens, getting access to resources provides by that DApp, and/or accessing features offered by the DApp. The bridge provided by the Yoroi Wallet connector also permits the validation of owners of specific assets. Also allowing executions for transactions for the DApp, a functionality that would bring access to things like NFTs. ADA price currently trending around $1.25 | Source: ADAUSD on More importantly, is the fact that the Yoroi Wallet connector will act as the communication medium between the Cardano blockchain and smart contracts once the network is able to support them. Users can get access to the connector by simply adding it as a plugin on their preferred browser of choice. From there, they can access whatever features they wish to use. Featured image from NewsBeezer, chart from
  • TA: Ethereum (ETH) Outpaces Bitcoin, Why Bulls Aim Larger Increase
    NewsBTC - 2 days ago
    Ethereum is up over 5% and it broke the $2,400 resistance against the US Dollar. ETH price outpaced bitcoin and it seems like there are chances of more gains above $2,450. Ethereum started a fresh increase and it managed to surpass the $2,320 resistance zone. The price is now trading well above $2,300 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,340 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls are likely to remain active near $2,390 and $2,350. Ethereum Price is Gaining Pace Ethereum formed a support base above $2,250 and started a fresh increase, outpacing bitcoin. ETH price gained strength and it broke the main $2,300 and $2,320 resistance levels. The price even surged above the $2,400 level and the 100 hourly simple moving average. It opened the doors for more gains and the price traded as high as $2,450 level. It is now correcting gains from the $2,450 resistance zone. Ether is approaching the 23.6% Fib retracement level of the upward wave from the $2,303 swing low to $2,451 high. The first major support is near the $2,390 and $2,380 levels. It is near the 50% Fib retracement level of the upward wave from the $2,303 swing low to $2,451 high. There is also a major bullish trend line forming with support near $2,340 on the hourly chart of ETH/USD. Source: ETHUSD on The next key support is near the $2,280 level and the 100 hourly simple moving average. A clear downside break below the $2,280 support zone could lead the price towards the $2,200 support. More Gains in ETH? If ethereum remains stable $2,340, it could continue to rise in the near term. An immediate resistance on the upside is near the $2,450 level. A clear break and close above $2,450 might start another steady increase. In the stated case, the price could easily rise towards the $2,500 level. The next key resistance is near the $2,550 level, above which the price might test $2,680 in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now correcting lower from the overbought zone. Major Support Level – $2,340 Major Resistance Level – $2,450
  • TA: Bitcoin Turns Green, Why Close Above $40K Is Crucial
    NewsBTC - 2 days ago
    Bitcoin price is trading in a positive zone above the $39,000 level against the US Dollar. BTC must settle above $40,000 for a sustained upward move in the near term. Bitcoin is trading positively above the $38,500 and $38,800 support levels. The price is still trading well above $39,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $39,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate higher if it settles above $40,200 and $40,500. Bitcoin Price Could Gain Momentum Bitcoin price remained well bid above the $38,200 support zone. BTC started a steady increase and it even broke the $39,000 level and the 100 hourly simple moving average. However, the bulls are struggling to gain strength above the $40,000 zone. The last high was formed near $40,920 before there was a minor downside correction. The price corrected below the $40,000 support level. There was a break below the 23.6% Fib retracement level of the upward wave from the $36,340 swing low to $40,920 high. The price even traded below $39,500, but the bulls were active above the $39,000 support. There is also a major bullish trend line forming with support near $39,000 on the hourly chart of the BTC/USD pair. The price is also trading nicely above the 50% Fib retracement level of the upward wave from the $36,340 swing low to $40,920 high. On the upside, an initial resistance is near the $40,200 level. The first key resistance is near the $40,500 level. Source: BTCUSD on If there is an upside break above the $40,500 resistance zone, there are chances of more upsides. The next major resistance is near the $41,000 and $41,200 levels. A close above $41,200 could trigger a steady increase towards the $43,500 level. Dip Supported in BTC? If bitcoin fails to climb above the $40,200 and $40,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $39,200 level. The first major support is now near the $39,000 zone and the 100 hourly SMA. A clear downside break below the trend line and $39,000 might call for a move towards the $38,000 level. The next major support is near the $37,800 zone. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $39,200, followed by $39,000. Major Resistance Levels – $40,200, $40,500 and $42,000.
  • Paid to Play in the Metaverse – the Crypto-Based Future of Gaming
    The Daily Hodl - 4 hours ago
    From Pong to PlayStation 5, the history of gaming is told through innovations. Certainly, graphical prowess and raw horsepower wow us all, but underneath the glittery sheen of ray tracing at 4K/120fps, there is always something more important to every game: how it plays. True innovation comes when the medium itself is pushed forward by […] The post Paid to Play in the Metaverse – the Crypto-Based Future of Gaming appeared first on The Daily Hodl.
  • Cardano Launching Connector That Bridges ADA Wallet to Decentralized Applications
    The Daily Hodl - 4 hours ago
    EMURGO, a founding entity of Cardano (ADA), announces that it is launching a new platform that will bridge the interaction between ADA users and decentralized applications (dApps) on the blockchain network. In a statement, EMURGO says that it will soon roll out the Yoroi dApp connector that will allow ADA holders to access decentralized applications […] The post Cardano Launching Connector That Bridges ADA Wallet to Decentralized Applications appeared first on The Daily Hodl.
  • Here’s What Bitcoin, Ethereum and Chainlink Investors Should Watch for, According to Top Crypto Analyst
    The Daily Hodl - 10 hours ago
    A popular crypto trader and analyst is mapping out what he thinks is next for Bitcoin, Ethereum and Chainlink as the broader crypto markets continue to rally. The pseudonymous crypto strategist, known as Pentoshi, tells his 202,700 Twitter followers that he’s keeping a close watch on Bitcoin (BTC) as the leading crypto asset looks poised […] The post Here’s What Bitcoin, Ethereum and Chainlink Investors Should Watch for, According to Top Crypto Analyst appeared first on The Daily Hodl.
  • Popular Analyst Names Altcoin With Most Upside To Capture, Unveils Forecasts for Bitcoin, Solana and Terra
    The Daily Hodl - 13 hours ago
    A widely followed crypto analyst and influencer is naming one large-cap crypto asset with the most upside to capture, and is also making predictions for Bitcoin, Solana and Terra. The trader, known as The Crypto Dog, tells his 555,500 Twitter followers that he sees Bitcoin printing a new all-time high within three months. New Bitcoin […] The post Popular Analyst Names Altcoin With Most Upside To Capture, Unveils Forecasts for Bitcoin, Solana and Terra appeared first on The Daily Hodl.
  • Crypto Whales Relocate Over $500,000,000 in Ethereum in Matter of Hours – Here’s Where the ETH Is Heading
    The Daily Hodl - 15 hours ago
    A massive amount of Ethereum (ETH) worth half a billion dollars is on the move, as crypto whales relocate their ETH troves. This Friday, blockchain tracker Whale Alert spotted a series of transactions in which large Ethereum holders moved 237,419 ETH, worth $557,777,068, in just over 10 hours. In the largest transaction of the series, […] The post Crypto Whales Relocate Over $500,000,000 in Ethereum in Matter of Hours – Here’s Where the ETH Is Heading appeared first on The Daily Hodl.
  • How 2021 Has Become a Signature Year for Fintech IPOs
    The Daily Hodl - 18 hours ago
    The golden age of financial technology (fintech) is upon us. The pandemic has created a dynamic shift in the way consumers and businesses behave on a daily basis, making them heavily reliant on the enhancement of technology. Currently, three fintech companies – Square, Shopify and PayPal – are all worth over $100 billion. Coinbase, Stripe […] The post How 2021 Has Become a Signature Year for Fintech IPOs appeared first on The Daily Hodl.
  • Will Crypto History Repeat? On-Chain Analyst Willy Woo Questions Conventional Wisdom on Bitcoin’s Trajectory
    The Daily Hodl - 1 day ago
    Widely followed on-chain analyst Willy Woo says Bitcoin (BTC) traders shouldn’t expect the current market cycle to end up resembling the 2013 BTC bull run. In a new episode of What Bitcoin Did with Peter McCormack, Woo says the crypto space has a “cycle imprint” in which traders are looking too much at past bull […] The post Will Crypto History Repeat? On-Chain Analyst Willy Woo Questions Conventional Wisdom on Bitcoin’s Trajectory appeared first on The Daily Hodl.
  • Cardano Could Be Gearing Up for 800% Rally, Says Crypto Analyst Michaël van de Poppe
    The Daily Hodl - 1 day ago
    A popular crypto analyst says Cardano (ADA) may witness another major rally this year if two crucial support levels hold. In a new strategy session, Michaël van de Poppe says Cardano has been in a downtrend against Bitcoin since late June. He highlights the $1.33 region as the first level of support and a second […] The post Cardano Could Be Gearing Up for 800% Rally, Says Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.
  • El Salvador’s Push To Adopt Bitcoin Riddled With Risk, According to IMF Managing Director
    The Daily Hodl - 1 day ago
    International Monetary Fund’s (IMF) managing director Kristalina Georgieva says El Salvador’s move to adopt Bitcoin as a legal tender will introduce significant risks to the Central American country. Georgieva says that El Salvador’s adoption of Bitcoin as a currency will bring uncertainty to financial planning at the household, enterprise and national levels, among other risks. […] The post El Salvador’s Push To Adopt Bitcoin Riddled With Risk, According to IMF Managing Director appeared first on The Daily Hodl.
  • Bitcoin and Crypto Threaten the Dollar and Have Advantages Over CBDCs: Economist Steve Moore
    The Daily Hodl - 1 day ago
    Economist Steve Moore says that crypto assets such as Bitcoin are a threat to the dollar and have advantages over central bank digital currencies (CBDCs). In a recent interview with Kitco News, Moore says that although he doesn’t think the US dollar will lose its reserve currency status in his lifetime, he believes that crypto […] The post Bitcoin and Crypto Threaten the Dollar and Have Advantages Over CBDCs: Economist Steve Moore appeared first on The Daily Hodl.
  • XRP Price to hit $1, But When? Ripple Price Action Seems Bullish, Breakout is Expected Soon.
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 6 hours ago
    The post XRP Price to hit $1, But When? Ripple Price Action Seems Bullish, Breakout is Expected Soon. appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide With the start of August, the global cryptocurrency market is in the black (today). The current market capitalization is $1.65 trillion. Bitcoin price is currently $41500, and its market share is 47.76 percent, down 1.16 percent from the previous day. To support the broader crypto market, Bitcoin would have to return to $42,500 levels. Meanwhile, …
  • Here’s What Next For Bitcoin, Ethereum and Chainlink Price!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 7 hours ago
    The post Here’s What Next For Bitcoin, Ethereum and Chainlink Price! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide As the larger crypto markets continue to surge, a well-known crypto trader and analyst is laying out his predictions for Bitcoin, Ethereum, and Chainlink. Bitcoin Price Pentoshi, a pseudonymous crypto analyst, tells his 202,700 Twitter followers that he’s keeping a careful eye on Bitcoin (BTC), which is poised to break through previous resistance at $40,000 …
  • Cardano Price Prediction : ADA Price to Breach these Resistance Levels Soon
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 7 hours ago
    The post Cardano Price Prediction : ADA Price to Breach these Resistance Levels Soon appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Cardano Price Analysis Cardano has finished July on a higher note, as the crypto market has bloomed again in the last ten days, with most cryptocurrencies trading in the green, and August may bring in more opportunities for the bullish investors and traders.  ADA price is currently trading at $1.35 and is expected to surpass …
  • Ethereum Price Action Looks Beautiful, How Far Will ETH Price Rally Continue?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 15 hours ago
    The post Ethereum Price Action Looks Beautiful, How Far Will ETH Price Rally Continue? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Most cryptocurrencies closed higher in the last 24 hours, indicating that the upward momentum is still strong. Given the current technical price of Ether, one cannot help but expect further price increases. This is in line with the overall cryptocurrency market’s upbeat outlook. Following the recent crypto market crisis, Ether prices entered a period of …
  • Cardano Price to Soar 800% in the Second Run! Here are Next Levels for ADA Price
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post Cardano Price to Soar 800% in the Second Run! Here are Next Levels for ADA Price appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide ADA Price Poised for Massive Rally The flagship crypto is holding up well above $41K, if it prevents a fall below this level over the weekend, BTC will finally be out of woods. A surge from here will start a bully rally. Following suit, the major altcoins will also soar in the weeks to come. …
  • Dogecoin Price Feared To Plunge Below $0.2, Will Bulls Trigger An Uptrend?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post Dogecoin Price Feared To Plunge Below $0.2, Will Bulls Trigger An Uptrend? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The crypto space is being much volatile with frequent pumps and dumps as the Bitcoin price appears to have broken the barriers. Despite a massive bullish sentiment DOGE price failed to maintain an uptrend. No doubt for some instance price broke the upper resistance but within a very short period of time, re-entered the channel. …
  • August 1, 2021, SUNC TOKEN – To Be Listed On Uniswap
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post August 1, 2021, SUNC TOKEN – To Be Listed On Uniswap appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Using Blockchain Technology To Create Transparency For Online Casinos  Since the first pre-sale on June 8, 2021, SUNC has conducted a total of five pre-sales. On August 1, 2021, we will list our tokens on Uniswap at a unit price of $0.022.  Uniswap is a decentralized exchange designed to prevent theft risks and wallet hacking. …
  • Popular Analyst Lists Top 5 Altcoins to Skyrocket in August
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post Popular Analyst Lists Top 5 Altcoins to Skyrocket in August appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Bitcoin is breaking out of resistance and is predicted to shoot up to new highs soon, it is incidental for Altcoins to follow suit and rally back up. As the month of August approaches Popular Analyst Lark Davis lists out 5 altcoins that are poised to surge. Ethereum(ETH) Davis begins his list with Ethereum (ETH), …
  • Bitcoin Price Breaks Above $41K Again! Fakeout or a Road to $100K Confirmed?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post Bitcoin Price Breaks Above $41K Again! Fakeout or a Road to $100K Confirmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide After a drastic dip and months of consolidation, Bitcoin price has finally risen above resistance and is maintaining a bullish uptrend. Over the last week, the token has tried multiple times to break above the $40K psychological levels and failed. But now as the week and the month ends BTC price has flipped $40.6 and …
  • XRP Price Rising Step-By-Step, This Is When It Could Hit $1
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
    The post XRP Price Rising Step-By-Step, This Is When It Could Hit $1 appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The ongoing tussle between Ripple and the SEC is undergoing many twists and turns as the latest hearing lags pretty much clarity. The deposition of the Ex-SEC executive William Hinman is still misty and the people around have got their wires crossed. As two Attorney’s have their own opinions and this may have compelled the …
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