Month: April 2020

Bitcoin’s intense volatility seen yesterday didn’t let up overnight, as the benchmark cryptocurrency pushed as high as $9,500 before facing a swift rejection The crypto has been able to stabilize within the upper-$8,000 region in the time since Analysts are now noting that this strong upwards momentum could lead BTC as high as $10,000, although it may face a brutal rejection at this level that leads it significantly lower Bitcoin and the aggregated cryptocurrency market incurred an intense uptrend yesterday Read more …

CoinMarketCap, which recently became a Binance company, released a report on Q1 crypto market performance, as seen from its perspective. One of the more interesting details is the significant decrease in users from China.  As revealed by the report, published on April 30, China fell from 13th to 24th position in the country rankings by page views. A less dramatic but sizable decrease was also seen from South Korean users, who fell by 3 positions to the 19th place. Furthermore, Read more …

Large crypto investors, popularly known as “whales,” seem to be accumulating bitcoin amid the ongoing price rally.  The seven-day moving average of the number of addresses holding 10,000 bitcoins or more rose to 111 on Wednesday, the highest level since Aug. 2, 2019, according to blockchain intelligence firm Glassnode. That number has risen by more than 11% since early March.  “The increase in the number of BTC addresses with more than 10,000 BTC is likely the result of long-term holders Read more …

Two separate charts taking a top-down view across the wider crypto market may provide clues as to where the altcoin asset class is headed. Each chart shows that altcoins are at potentially their most critical moment yet, and are facing the most important weekly close yet at the end of this week. Altcoins Start 2020 Strong, But Black Thursday Crypto Collapse Backtracked Breakout As 2020 first got underway, altcoins broke out from two-year downtrend lines and carried on into the Read more …

As Telegram again delays the launch of its Telegram Open Network (TON) after missing their April 30 deadline, some key players in the crypto industry don’t want Telegram to launch the coin at all. Michael Novogratz, CEO of crypto merchant bank, Galaxy Digital, and one of the biggest Bitcoin (BTC) bulls, expressed a sceptical stance to Telegram’s blockchain and crypto project in an April 30 tweet. Novogratz wants to turn 400 million Telegram users into Bitcoin consumers According to Novogratz, Read more …

The demand for cryptocurrency in certain countries is growing amid the COVID-19 pandemic. Bitcoin (BTC) peer-to-peer trading volume in Argentina, Chile, Venezuela and Morocco has peaked over the past few weeks, marking new all-time highs.  Additional reports suggest that traffic on centralized cryptocurrency exchanges has also peaked within the past few weeks, while major trading platforms such as Kraken and Coinbase have commenced hiring sprees due to increased customer interest. So, why exactly are people trading more crypto during the Read more …

Advertisment During the last few weeks, the world has been dealing with the coronavirus outbreak. These days, however, many of the world’s citizens are growing more concerned over the government’s reactions than the virus itself. Moreover, with the U.S. economy feeling the hardship of over 30 million unemployed Americans and the petro-dollar on life support, many economists think that de-dollarization is coming and this period marks the end of U.S. monetary hegemony. Following the Covid-19 pandemic and the government’s recent Read more …

During the last few weeks, the world has been dealing with the coronavirus outbreak. These days, however, many of the world’s citizens are growing more concerned over the government’s reactions than the virus itself. Moreover, with the U.S. economy feeling the hardship of over 30 million unemployed Americans and the petro-dollar on life support, many economists think that de-dollarization is coming and this period marks the end of U.S. monetary hegemony. Following the Covid-19 pandemic and the government’s recent schemes, Read more …

A few years ago, blockchain technology gained significant traction and was regarded as a truly revolutionary tool for any industry, providing opportunities to significantly update the way of doing business in many areas. As a result, numerous illicit actors didn’t neglect to use the opportunity to capitalize on hype and use the situation for personal enrichment.  Only after an insane amount of marketing money was poured into this area and hundreds of scam projects had deceived millions of people, the Read more …

Coinbase experienced a brief outage yesterday as investors raced to the crypto exchange, propelled, in part, by a fear of missing out.  FOMO is seen elsewhere in the market, as derivatives products soar 300% on daily trading volumes and Grayscale reported a notable uptick in shares of its Bitcoin Trust. Meanwhile, a16z is making another long-term play, launching its second, larger crypto fund. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto Read more …

About 37% of the cryptocurrency community expects Bitcoin’s (BTC) hashrate to be higher one month after the block reward halving than it currently is, according to a recent poll. Cryptocurrency portfolio tracking application, Blockfolio, polled its users on April 27. They asked whether they believe Bitcoin’s hash rate will be higher or lower one month after the halving. The community has a positive outlook Blockfolio’s question was answered by over 8,000 users. Among the respondents, 37% believed that the hashrate Read more …

Thanks in part to the uncertainty of the coronavirus crisis and rising bitcoin prices, bitcoin wallet startups have seen a sudden uptick in activity.  For example, over the past two months the Austin, Texas-based bitcoin startup Unchained Capital, with over $50 million in assets under management and $150 million worth of bitcoin transactions processed, garnered several dozen new institutional clients, representing hundreds of individuals. Will Cole, Unchained’s chief product officer, said the custody product Vault saw 340% growth in Q1 Read more …