Category: Cryptocurrency News

Decentralized finance (DeFi) has taken Ethereum by storm over recent months. This sector of the crypto and ETH economy has grown exponentially, both in terms of capital/dollar value and in terms of active users. While this segment of Ethereum has undoubtedly bolstered the project, founder Vitalik Buterin is steering clear for the time being. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Ethereum Founder Vitalik Is Not Big on Yield Farming Just Yet Vitalik Buterin, the Read more …

Yearn.finance (YFI) has been making headlines throughout the past few weeks, with the DeFi protocol going from being relatively unknown just a couple of months ago to now having the fourth-highest total value locked (TVL) in the entire ecosystem. This growth has had major implications for the YFI governance token’s price, which has been rocketing higher in recent weeks. The token just set fresh all-time highs earlier today, with it currently being worth well-over 3 BTC per YFI. Analysts are Read more …

Bitcoin has pressed higher over the past three days. Since bottoming last week, the leading cryptocurrency has rallied to $11,750 as of this article’s writing. BTC is poised to close above $11,500 for its monthly close, boding well for the bull case. Bitcoin is primed to move even higher according to a number of analysts. Most remain convinced that a move towards $13,000 will take place in the near future. There is heavy resistance in the $13,000-14,000 region that could Read more …

Tesla’s Elon Musk has said the company recently foiled attempts to infect its computer network with malicious software, after an employee cooperated with the FBI in an investigation. The malicious software would create an opportunity for criminals to extort money from Tesla. Musk’s revelation comes after the United States Department of Justice (DoJ) had brought charges against a Russian national, Egor Igorevich Kriuchkov, 27. Although the U.S. government is not naming the targeted corporation in the sealed court documents, Musk Read more …

The decentralized finance movement has helped drive up the value of Ethereum and other ERC-20 based projects compared to Bitcoin and other assets. It has prompted even Bitcoin holders to “wrap” their BTC in Ethereum. The amount of BTC supply wrapped in Ethereum has doubled in August alone, but why exactly is this happening, and what does it mean for Bitcoin? Explosive DeFi Trend Teaches Old Dogs New Tricks As Crypto Adapts The buzz surrounding DeFi has breathed new life Read more …

A major health insurance provider in Switzerland has made Bitcoin and Ether payments available to its policyholders. According to an Aug. 31 announcement, Atupri Health Insurance is partnering with crypto financial services company Bitcoin Suisse for its 200,000 customers to make payments using Bitcoin (BTC) or Ethereum (ETH). Atupri, based in Bern, will not be holding any digital assets itself, but rather just receiving fiat payments in Swiss francs once the BTC or ETH is exchanged by Bitcoin Suisse. The Read more …

A minute ago, Bitcoin’s monthly candle close for the month of August took place. The cryptocurrency did what many thought would be difficult; it closed the month of August above $11,500, a pivotal resistance level. This means that Bitcoin just printed its second-highest monthly close ever. Due to the importance of the monthly chart to BTC’s macro trend, analysts say that the cryptocurrency is prepared to see further upside from here. Related Reading: These 3 Trends Suggest Bitcoin Is Poised to Read more …

Ethereum is undergoing its latest craze: SushiSwap, whose native governance token is Sushi (SUSHI). The coin took a strong drop after it was launched this past weekend, but has since bounced back. Since bottoming around $0.70 just two days ago, the asset has exploded higher by 1,000%. The coin now trades for $6.60 and is up 120% in the past 24 hours alone. A good portion of this move higher comes after the coin was listed on FTX, a leading Read more …

XRP has been struggling to garner any momentum in recent weeks, with its price action largely being correlated to that of Bitcoin as of late. That being said, it has been able to recover all of the losses that came about as a result of its recent plunge down to lows of $0.25 in tandem with BTC’s plunge to lows of $11,100. The embattled cryptocurrency is now confirming that the mid-$0.28 region is heavy resistance, which could mean that this Read more …

Bitcoin is currently lagging behind many of its peers, as the benchmark cryptocurrency is stable within the upper-$11,000 region while Ethereum and other major altcoins rally Analysts are noting that the cryptocurrency is forming underlying strength, however, which may allow it to push higher in the near-term. As such, this current consolidation may be buyers’ way of laying the groundwork for a significant push higher in the near-term One trader is specifically noting that the resistance that has been plaguing Read more …

Former Trump chief of staff Mick Mulvaney says a Joe Biden presidency would cause an “avalanche” of regulations. Some economists have also voiced concerns that the Biden administration would lead to a stock market pullback.  This has led many crypto analysts to ponder what impact a strong stock market correction would have on the price of Bitcoin (BTC). During an interview on CNBC’s Squawk Box, Mulvaney said Biden would push many regulations in a short period. He stated: “If Trump Read more …

Chainlink faced a grim rejection at just below $18.00 yesterday, which struck a blow to the technical strength that it had been expressing throughout the past few days and weeks. Because LINK has since reeled below the support it was forming at $17.00, it now appears that the crypto may continue trading within the long-held consolidation range that it has been caught within throughout the past few weeks. Analysts believe that the crypto may now face some further near-term weakness Read more …