$2 billion worth of Bitcoin (BTC) options will expire on Friday, Aug. 27. Some analysts argue that a strong call (buy) option buying activity on Aug. 22 was likely the catalyst for the recent $50,000 price test. Digital asset trading firm QCP Capital mentioned in its market update that an entity has been “consistently pushing
Month: August 2021
Cardano (ADA) addresses with a balance greater than $1 million have surged by 173% during the latest ADA price rally. Specifically, the ADA/USD exchange rate surged by almost 200% after bottoming out at $1.007 on July 20. The pair reached its record high of $3.02 in the previous session, a move that followed up with a 6.42%
Ether (ETH) price rallied 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. Meanwhile, Bitcoin (BTC) could not sustain the $50,000 mark, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics. Surprisingly,
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches the course “Blockchain, Crypto and Regulatory Considerations.”
MicroStrategy has once again purchased more Bitcoin (BTC), with the company adding 3,907 BTC to its holdings. According to a Form 8-K filing with the United States Securities and Exchange Commission published on Tuesday, the business intelligence upped its Bitcoin holdings by 3,907 BTC between July 1 and Monday, Aug. 23. The SEC filing also
The results of a recent survey undertaken by Redfield & Wilton Strategies on behalf of Politico, suggests that a plurality of the British adult population hold visceral concerns surrounding a Bank of England (BOE) issued central bank-backed digital currency (CBDC). The 2,500 British adults surveyed in the study in early August expressed doubt and concern
Bitcoin (BTC) stayed tantalizingly close to $50,000 on Aug. 24 as bulls contended with a classic resistance level. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Too late for “dirt cheap” Bitcoin? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding necessary support levels for bullish continuation through Tu The pair had dipped to within the
Monero (XMR), the largest privacy-focused cryptocurrency by market capitalization, has posted a 20% price surge following the launch of the Atomic Swap implementation program last week. On Friday, the Monero Project officially announced a rollout of the Atomic Swap implementation developed by the cross-blockchain protocol COMIT, aiming to simplify trades between XMR and Bitcoin (BTC). Following
The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%. Dubbed as Rising Wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous
The price of Bitcoin (BTC) is back at the $50,000 level, and there’s little doubt that the 47% positive rally over the past 30 days has been fueled by whale accumulation, institutional adoption and positive remarks from regulators regarding a possible exchange-traded fund (EFT) approval. Despite the positive newsflow, the top traders at crypto exchanges
Major publicly-listed Bitcoin mining firm, Riot Blockchain, has reported record revenues for Q2 2021. In its Aug. 23 quarterly financial report, the U.S.-based firm reported $31.5 million in mining-related revenues for the three-month period — up roughly 1,540% from its Q2 2020 revenue of $1.9 million. The surging mining revenues drove a record quarterly net
Liquidity market protocol BENQI has reached $1 billion in total value locked, or TVL, less than a week after launching on the Avalanche (AVAX) network, a major milestone that highlights the explosive growth of decentralized finance (DeFi) lending services. Benqi Finance announced the milestone on Twitter late Sunday, where it thanked its community for the
Nayib Bukele, the president of El Salvador and the principal figure behind the country’s adoption of Bitcoin (BTC), said residents will have the opportunity to convert their crypto to fiat immediately after Bitcoin is recognized as legal tender. In a Sunday announcement on Twitter, Bukele said 4.5 million adults in El Salvador would have the option of
Filecoin (FIL) accumulated 65% gains over the past 30 days to reach its highest price since June 8. The recent strength was accelerated after an Aug.6 partnership with Chainlink’s oracle protocol on Aug. 6 allowed the projects to join their grant initiatives to speed up the development of hybrid smart contracts to leverage code running
Economics Professor Jason Potts is co-director of the Blockchain Innovation Hub at RMIT University. He sees blockchain technology as a fundamental institutional technology revolution comparable to the emergence of companies and the internet — perhaps even as world-changing as the invention of electricity. What’s the last big technological change that had the same sort of
Ethereum makes up a large part of crypto-asset manager Grayscale’s portfolio. In a recent report, it shows that Grayscale now has over 3 million ETH in its asset under management (AUM), amounting to more than $10 billion. This makes the asset manager one of the largest holders of Ethereum in the space. Related Reading | Crypto
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