2020 has been an incredible year for many firms trying to incorporate Bitcoin into their larger financial systems. Grayscale took the leap first, in the minds of many, with Coinshares and Bitwise making noise as well. These Crypto-Index Funds are regulated and their main focus has been the market’s institutional investors. For context, Grayscale currently...Read More
XRP holders will see an airdrop of 45 billion Spark tokens on 12 December. Any owner of XRP tokens will receive the token in a 1:1 ratio, which by extension means that there could be 100 billion Spark tokens created. This will be carried out by the Flare Network, an airdrop backed by Ripple’s investment...Read More
While DeFi has been the most popular buzzword of the year, it is a space that is fraught with risks. In fact, a recent report by BraveNewCoin outlined a series of 18 serious non-financial risks for DeFi, a report addressing the inherent risks that a user may be exposed to when diving into this ecosystem....Read More
Ever get that feeling when you’ve been pushed into the deep end with no idea of what’s happening or what might happen next? Well, trading in the cryptocurrency market can often feel that way, especially to those who are new to the industry and its mechanics. What then? Well, as humans, we are programmed by...Read More
It seems that every week the Decentralized Finance (DeFi) sector is hit by news of a new rug pull. Tokens with anonymous teams behind them garner hundreds of thousands, even millions of dollars in market cap. Some buyers willingly ‘ape’ into a new project with the expectation of a manifold return on investment, even when...Read More
After hitting a high of $19,918 on 1 December, Bitcoin has completely stagnated to consolidate between the ranges of $18k and $20k. Yesterday, a low of $17,610 was registered, but a quick bounce back above $18,000 was soon recorded on the charts. With respect to its price, CME’s derivatives market is now going through a...Read More
When MicroStrategy and Michael Saylor invested close to $425 million in Bitcoin back in August-September 2020, the sole purpose was to preserve its cash reserves’ purchasing power by converting it to Bitcoin. While the benefits were initially highly incremental for the company, MicroStrategy seems to be raising its game now. MSTR’s growing capital in Bitcoin...Read More
2020’s week 50 is upon us right now, with Week 49 being rather quiet for Bitcoin from a price perspective. Between 2 December and 8 December, Bitcoin’s price movement was restricted between $19,800 and $18,400. While the movement on the 8th remained the most significant, the cryptocurrency’s price did remain above $18,800 for the 6...Read More
Bitcoin’s price seems to be losing its foothold as the price suffered a drop of 5% in the last 8 hours. Considering the situation more of this could follow. How much? Perhaps, an average drop of 30% can be expected, especially during bull runs. Bitcoin Corrections Historically, bitcoin seems to correct during bull runs and...Read More
Why Bitcoin will replace US Dollar as the World’s Reserve Asset is as much a story of the United States Dollar, as it is of Bitcoin. It started when United States GDP was a third of the world’s GDP and even larger when it comes to the manufacturing sector, at the close of the second...Read More
Traders who witnessed Bitcoin’s 80% drop in price following the 2017 Bull Run to ascent from $1000 to new ATH of $19891.99 on Coinbase in 2020 have seen it all. The rally of massive volatility, the quiet rally and the quietest ever rally. Despite the media attention, a certain degree of hype on social media,...Read More
Yearnify Finance is considered one of the most innovative sources of passive income by most of the investors. It has drawn attention due to its potential high returns and extreme security majors What is Yearnify Finance? Yearnify Finance is a community-centered DeFi-project, modeled to take the successful features of Yearn Finance (YFI), and improve upon...Read More
Will DeFi with its inverse BTC correlation eat Wall Street? In his latest tweet, Tyler Winklevoss of Gemini Exchange mentioned that “DeFi is the software that is starting to eat Wall Street”. Since DeFi’s market capitalization is still one-third of XRP’s market capitalization there may be room for growth. As Tyler argues, DeFi may eat...Read More
Let’s pick up where MicroStrategy left off – their additional purchase of bitcoin, which leaves them with a total of 40,824 BTC. While this may be bullish for bitcoin and everyone in the ecosystem, we don’t realize what this implies, so, let’s take a look at what this means. Grayscale Grayscale Investments has been at...Read More
Ethereum, the market’s second-largest cryptocurrency and the king of the altcoins, exhibited bullish bias at the time of writing. For the same, there seemed to be more than two reasons behind it. With the cryptocurrency’s price trading at $600 per coin, more price appreciation may be incoming and here’s why, On-chain metrics Ethereum investors Source:...Read More
A court in Paris sentenced alleged Russian Bitcoin hacker Alexander Vinnik to five years in prison for crimes connected to money laundering and for providing false information about the origin of the proceeds. In addition to this, Vinnik has been ordered to pay a fine of 100 thousand euros ($121,000). Suspected of a bitcoin fraud,...Read More
Major cryptocurrencies Bitcoin, Ethereum, and Tether have all got a mention on the Season 11 premiere of the long-running American comedy-drama television series “Shameless” which features on Showtime. The first episode – ‘This Is Chicago’ shows how Kevin (Steve Howey) is confused about the plight of one cryptocurrency user who says: My Bitcoin. It’s down...Read More
2017, the year of the historic bull run, was also the year of extremes. On the contrary, 2018 was the year of the big drop while 2019 was the year when the brave HODLed and weak hands sold Bitcoin. Source: Coinstats The year 2020, however, may go down in Bitcoin’s history as the year of...Read More
The ratio of the 24-hour Open Interest [OI] change and market cap seemed to highlight an interesting trend on the question of which coin is the most leveraged in the market. Interestingly, the most leveraged cryptocurrency isn’t Bitcoin or any other crypto in the top 10 of CoinMarketCap’s charts. In fact, the most leveraged cryptos...Read More
When Bitcoin’s price hit a new ATH on most cryptocurrency exchanges, traders expected it to hit $20,000 quickly. However, the crypto-asset soon faced a wave of corrections following the same, even as its market cap crossed $354 billion and it became the 7th largest currency in the world. To many, the $20,000-level may seem unattainable...Read More
With Bitcoin consolidating its position right under its latest ATH on the price charts, the general mood in the crypto-market is one of bullishness and optimism. Such a mood swing has caught the attention of many in the mainstream, many of whom were previously hesitant about investing in cryptocurrencies. In fact, there is also an...Read More
When Bitcoin decoupled from Gold in November 2020, on-chain analysts predicted that it was gearing up to hit a new ATH on the charts. As it happened, that’s exactly what happened. However, the sentiment on the part of the market’s retail traders was mostly mixed after the Bitcoin-Gold correlation dropped so dramatically. The “store of...Read More
It’s been a good few weeks for Bitcoin, the world’s largest cryptocurrency. Not only did BTC climb to a new ATH recently, but it has also emerged to become the world’s fastest adopted asset. This was recently brought to light by a tweet authored by popular on-chain analyst Willy Woo. The tweet in question compared...Read More
Bitcoin’s rapid institutionalization has raised many eyebrows, around the world. In addition to this, it has also raised the interest and investment of institutional investors, family offices, and HODL waves from retail. In the latest episode of the Pomp Podcast, Raoul Pal takes us to conversations that happened behind closed doors between Macro guys from...Read More
Bitcoin has been evolving and so have the narratives around it. Most people view it as a currency, a store of value, peer-to-peer cash, etc. However, these are the narratives that have prevailed. Other narratives included e-cash proof-of-concept, darknet currency, programmable shared database, etc. It is clear that the narratives around bitcoin have been changing,...Read More
Grayscale Bitcoin Trust may be the closest to a Bitcoin ETF in 2020. The daily GBTC trade volume has increased steadily since June 2020 and this is critical to Bitcoin’s price and liquidity. Grayscale Bitcoin Fund requires a minimum investment of $50000, and the trade volume in GBTC is a clear indicator of the demand...Read More
These are bullish times for Ethereum and its growing community. After all, why would anyone expect anything else? A week after the deposit contract was finally filled with a few hours to spare, the much-anticipated genesis block of the Ethereum 2.0 beacon chain was launched on 1 December. The said development came as a relief...Read More
Chief Technology Officer at Ripple and XRP Ledger architect David Schwartz said that XRP community could force the burning of billions of XRP in holding. Recently, a Twitter user asked Schwartz whether the nodes, validators, and community members of XRP Ledger could burn more than 50 billion XRP in escrow. In a tweet, published on...Read More
Bitcoin has never consolidated at a price range this high for so long in its history. While a recent revisit below $17k may have shaken away a few weak hands, the crypto-asset, at press time, was able to gather pace above $18,500 once again. In fact, the sentiment is distinctly different as well. The air...Read More
Ethereum continues to dominate the altcoin market, after having cemented its position as Bitcoin’s most notable rival. The last few weeks have been particularly exciting for the community since it saw the much-awaited launch of ETH 2.0, with the beacon chain going live on 01 December. However, on the question of Ethereum’s scalability, how many...Read More
