It would seem that Ethereum is back to square one. After registering a growth of over 170 percent from January to 26 June, the world’s largest altcoin has now lost all its positive gains this year after it recorded an 8% depreciation on 16 December. Ethereum and Bitcoin were the major crypto-assets responsible for the...Read More
You’ve probably heard of the Pareto principle, or the 80/20 rule. To put it briefly, it suggests that 80 percent of the effects come from 20 percent of the causes. For cryptocurrency trading, the principle should be redefined as the 95/5 rule, or the Bitwise principle. The crypto-asset management fund made headlines in the crypto-world...Read More
On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.” Also read: Mystery Surrounds...Read More
When volatility picks up, Bakkt is never too far. Institutional investors are gearing up for an early-Christmas party, one which will see more positions in Bitcoin Futures contracts than ever before. Bakkt saw yet another high in its open interest [OI] on 16 December as the underlying cryptocurrency, Bitcoin, dipped below $7,000. According to Skew...Read More
On Tuesday, December 17th, the LTC cryptocurrency is declining, trading at $39.76. On D1, there is a downtrend developing. Upon reaching 76.0% and an attempt of a pullback to 61.8% Fibo, the quotations formed another declining wave. They have renewed the previous daily minimums and headed for the yearly fractal support line at $22.25. The...Read More
Since peaking on 26 June, Bitcoin‘s price has been on a consistent decline, having lost over 51 percent of its valuation, at press time. Many people in the crypto-community have pointed their fingers at various factors, seeking to find the reason behind such a price decline. While some claim price manipulation by whales and exchanges...Read More
An Ethereum wallet address loaded with 530k ETH from the ICO pre-sale has dumped over half since September 25. Prior to this date the tokens had been HODLed since the 2015 Initial Coin Offering. Pre-ICO ‘Whale’ Account The wallet address (and recent sell-off) was brought to the public attention in a tweet from D5 -Data Science...Read More
The crypto sector has gone through a turbulent year, with significant developments in the background. Despite the setbacks, there are expectations for significant trends that will shape the moods, attitudes, and decision-making in 2020. Report Lists Growth Vectors and Failing Crypto Trends The year 2020 comes with various predictions as the Bitcoin (BTC) market is...Read More
The Italian cabinet has decided to financially assist Popolare di Bari bank with a 900 million euro-large capital injection. The establishment is the biggest lender in the southern part of the country. According to new reports from Italy, this Sunday, the country’s government decided to approve an emergency decree regarding one of its major lenders,...Read More
There was a time when institutional investors were reluctant to enter the crypto-market owing to the high volatility and lack of regulatory clarity inherent to the market. However, things are changing for the better in 2019. There has been a proliferation of trading venues that have resulted in dramatic structural changes to the cryptocurrency industry....Read More
MakerDAO has been in the news lately for both good and bad reasons. The launch of Multi-Collateral Dai [MCD] put the platform under the spotlight, following which, a research piece by Coinmonks contested the governance system of MakerDAO that allows MKR token holders to be the decisive agent for the upgrades through votes. However, the...Read More
Ethereum Classic’s developers had previously revealed the roadmap for the much-awaited Agharta hard fork, which is touted to be the second half of the recently executed Atlantis hard fork. According to a recent development, ETC core developers and stakeholders participating in the ecosystem on 12 December have agreed on a target block number for mainnet...Read More
Blockstream recently revealed its plans to make multi-part payments interoperable on the Lightning Network, a development which essentially means that sending large Bitcoin transactions on top of the layer 2 network would be possible in the future. This development is instrumental in terms of the Bitcoin network which has been plagued with scalability woes for...Read More
A lot has been going on with the Ethereum network lately, with the Istanbul hard fork recently going live on the network and Muir Glacier expected to be rolled out by New Year’s Eve. Amid these updates, the Ethereum Core Developers in their 77th meeting discussed several other EIPs, along with Eligible for Inclusion [EFI]...Read More
The level of Bitcoin on-chain activity has declined since June, sliding just as market prices sank from their yearly peak. Transactions also saw a spike in October when BTC touched $10,000 again briefly. On-Chain Bitcoin Transactions Correlate with Exchange Price Action On-chain transactions for BTC often coincide with heightened trading interest. This led to slowing...Read More
In a recent video, VP of Products at Blockstream, Allen Piscitello, spoke about stablecoins, the platforms they use, and how they compare to Blockstream’s own Liquid network. During the presentation, Piscitello spoke about how Tether exists on multiple blockchains, but represents the same asset in a bank account. He also spoke about the pre-requisites of...Read More
After maintaining its position above $7000 over the past 2 weeks, Bitcoin briefly breached its support on 14 December. At press time, Bitcoin was above $7000 again, but the difference was very slim. Its valuation remained at $7068.67 as the market continued to consolidate under $7500. However, according to data released by glassnode, the community...Read More
Recently on Twitter, Bitcoin and ETH derivatives data analytics firm, Skew, reported an unusual proportion of puts trading on the Deribit exchange over the last two days. Generally, put options become more valuable as the price of the underlying asset depreciates in value relative to the strike price set on the contract. An increase in...Read More
During the presentation, given to The Empire Club of Canada, Governor of the Bank of Canada, Stephen S. Poloz laid out some interesting reasons why he believes cash is better than crypto. Modernising Canada’s Ageing Payments Systems Poloz spoke about the role of technology in affecting how Canadians made payments. He suggested that the majority...Read More
Industries across different domains have tried to deploy blockchain technology meaningfully in their businesses in a bid to eliminate redundancies and reduce time and risk. In a recent development, India’s largest IT services company, Tata Consultancy Services [TCS], has announced that its Quartz DevKit, a blockchain app development kit, is available for enterprises to build...Read More
Central Banks’ rising interest in the field of digital assets has been evident in 2019. After China’s development of a state-backed CBDC, many have speculated that other central banks will follow suit and launch their own digital currencies by 2020, especially since many are already researching on them. Although Japan’s Hurihiko Kurado recently claimed that...Read More
In the past month, European business hours became extremely active for bitcoin futures trading on BitMEX futures. European Traders Pick Up the Slack on BitMEX New data shows European bitcoin traders became active in the past month, making up the bulk of volumes on the BitMEX XBT/USD perpetual contract. European hours have been the most...Read More
Prominent Japanese cryptocurrency exchange, Coincheck, is in the news after it announced on 16 December its termination of “leverage transaction” service. The exchange released a blog post in which it stated that the service will be terminated by 13 March 2020. According to the schedule mentioned in the blog, users will have to transfer their...Read More
In a recent interview, Dan Morehead revealed his thoughts on bitcoin and its future, including the ability to disrupt at least 50 industries. With 2019 looking to end, bitcoin has been one of the hottest topics this year, as many expect the next decade to be all about digital currency. For the moment, BTC’s price...Read More
The Tokyo-based crypto exchange, Coincheck, announced that it is terminating its leveraged trading service, in a blog post this morning. Settlement and Transfer Deadlines The planned end date for leveraged crypto trading is 12:00 on Friday, March 13, 2020, by which deadline all open positions should be settled. Customers will then have until the end...Read More
Blockchain-based identity management solutions firm, iden3, recently published the results of an analysis it had conducted to test transaction throughput on the Ethereum blockchain, before and after the Istanbul upgrade and ZKRollup. The analysis concluded that Ethereum, after the Istanbul upgrade, using ZKRollup, could handle up to a theoretical maximum of 2048 tps, a figure...Read More
Recently, the Ethereum network’s eighth network update, Istanbul, went live on the platform at block number 9,069,000. During the 77th Ethereum Core Devs meeting, the aftermath of the Istanbul hard fork along with several other updates pertaining to the network was discussed. Addressing the same, PegaSys’ Tim Beiko went on to reveal that Istanbul was...Read More
A growing number of banks in Germany are charging retail customers negative interest rates, starting with the very first euro deposited into their accounts. At least three German banks are reportedly doing so, with more expected to follow suit in the near future. As the European Central Bank maintains a negative rate policy, more banks...Read More
Monetary sovereignty is the power of the state to exercise exclusive legal control over its currency but what if a person has this power within a hand’s reach? Prominent BTC investor Trace Mayer said, “Imagine being able to run a full node on your cell phone, like your daily cash where you’re holding your own...Read More
Digital asset management firm, CoinShares, published the second report this week of their bi-annual series called, ‘The Bitcoin Mining Industry’, which followed on from the previous issue, published back in June. The report detailed the geographic distribution of miners, the energy mix in play and the benefits Bitcoin mining can bring to the global economy. According to...Read More
