A few years back, Bitcoin’s (BTC) price was controlled by whales as the crypto market lacked depth and was relatively illiquid. If whales were selling in unison, no one wanted to venture out and buy. Similarly, the whale’s concerted buying easily boosted prices higher. However, that is not the case anymore. With the arrival of
Ten months into the pandemic and COVID-19 continues to negatively impact global markets. However, trading of crypto derivatives is on the rise. The crypto market is maturing as applications of real-world solutions and new financial products drive global adoption. Meanwhile, the volume of trading is surging as traders view crypto as one of the better
Bitcoin (BTC) whales appear to be selling to institutions as the supply squeeze heightens below $20,000. Data from various sources shows that while more BTC returned to exchanges this week, largescale buyers are still creating more demand than supply can meet. Exchange inflows and Grayscale buy-ins Statistics from on-chain analytics service Coin98 confirmed that investment
For those still traumatized by March’s Black Thursday crash, Aave is about to make long collateral positions a lot less risky. The decentralized money market has rolled out its second version, with several features that should make it more flexible and more capital efficient. The most innovative feature, though, is its new collateral swap functionality,
As Ripple reportedly prepares to relocate its headquarters outside of the United States, it turns out that only 5% of the company’s clients are based in the country, according to the firm’s CEO. On Dec. 2, Ripple CEO Brad Garlinghouse sat for an interview with CNN anchor Julia Chatterley to discuss Ripple’s regulatory hurdles in
An unusual interview with Bitcoin SV (BSV) proponent Jimmy Nguyen on Fox Business earlier today appears to have been cut short after Nguyen kept criticizing Bitcoin. Nguyen appeared on the Dec. 3 episode of Fox Business’ Varney and Co. to discuss the increasing interest around Bitcoin, but the interview came to an abrupt end after
The creators of stablecoin platform Terra announced the launch of the Mirror Protocol Thursday, a way to mint crypto assets that mimic the value of shares in publicly traded companies like Apple or Tesla. “We were motivated to create a way for retail investors around the globe to more easily participate in the U.S. equities
The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment. Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another
After a rather lengthy wait, Bitcoin price is finally back to the same price range it was in 3 years ago. Back in 2017, when the Bitcoin (BTC) price peaked near $19,900, most altcoins also posted 200% or higher weekly gains. Fast forward to the present time, and BTC’s $19,100 price is virtually identical to
Ripple chief technology officer David Schwartz has admitted the company could be forced by validators to burn its 48 billion XRP tokens, regardless of if it agrees with the decision or not. The company currently holds half the total XRP supply and has come under fire from the community for selling off tokens in the
The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000. The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through OTC markets. Accredited and
Darknet markets are having a rough 2020. COVID-19 has wreaked havoc on all shipping-centric industries, drug sellers included. Criminologist Andréanne Bergeron estimates that only 21% of darknet market transactions resulted in on-time deliveries during the height of pandemic lockdowns in the spring. But the virus only accounts for part of their pain. According to crypto
The Kraken cryptocurrency exchange announced that it would match $150,000 in donations to support open-source Ethereum (ETH) projects on Gitcoin. Gitcoin is a developer funding platform relying on a hybrid model of sponsored donations and direct community support. Through its quadratic funding model, community donations are used as guidance to identify the projects that should
The company behind the S&P 500, S&P Dow Jones Indices, will debut cryptocurrency indexes in 2021, it has confirmed. In a press release on Dec. 3, S&P Dow Jones Indices (S&P DJI), a subsidiary of market giant S&P Global, described Bitcoin and altcoins as an “emerging asset class.” Bitcoin and altcoins hit Wall St. finance
CoinShares chair and former JP Morgan commodity trader Danny Masters told CNBC that the financial landscape has changed to the point where not having exposure to Bitcoin could be a riskier move for portfolio managers than investing in it. Interviewed on Power Lunch, the head of the digital asset management firm referred to the fact
Another decentralized finance (DeFi) project was rug-pulled Tuesday, with some $10.8 million in investor funds stolen due to a hidden backdoor in the project’s smart contracts. Compounder Finance – a self-described clone of Harvest and Yearn Finance built by pseudonymous programmers – had its contracts drained of $750,000 worth of wrapped bitcoin (WBTC), $4.8 million