Crypto News

August 2020

Ethereum price rallies above $400 resistance on bullish ETH options data

2020-08-30T23:33:00+00:00 August 30th, 2020|Crypto News|

Ether (ETH) options open interest grew by 230% to reach $393 million in the past three months. Although this is an impressive figure, it doesn’t fully reflect how the derivative instruments being used.Ether options open interest, USD. Source: SkewStrike levels appear bullishThe first thing one should take note of is the most used price levels (strikes). Once again, this information does not provide a clear [...]

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YFI surges to $38K, BTC comeback predictions, Ryanair CEO’s fury: Hodler’s Digest, Aug. 24–30

2020-08-30T23:19:24+00:00 August 30th, 2020|Crypto News|

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. Top Stories This WeekYFI price soars to $38,800 hitting $1 billion market cap — Can it go higher?Yearn.finance’s founder, Andre Cronje, has warned that YFI tokens are “worthless” — but this hasn’t stopped them from rising even higher over the weekend.YFI surged by more than 75% in [...]

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3 key metrics show bulls control Bitcoin price despite $12K resistance

2020-08-29T20:45:00+00:00 August 29th, 2020|Crypto News|

Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.This holds especially true when considering that the $12,500 level hasn't been touched in over 13 months. Currently, analysts are making $16,000 price targets partially due to a CME gap [...]

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Bitcoin price holds key support level as focus shifts back to $12,000

2020-08-29T15:47:00+00:00 August 29th, 2020|Crypto News|

As the price of Bitcoin (BTC) showed weakness in the past week, the crucial support zone around $11,200, nevertheless, held. Several arguments were given for the volatility throughout the week with Powell’s speech at Jackson Hole and the expiration of futures and options occurring over the past few days.But more importantly, the crucial support level at $11,200 didn’t break, which means the focus now shifts [...]

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Bitcoin price shakes off $157M BTC futures expiry — Is $12,000 next?

2020-08-29T00:40:00+00:00 August 29th, 2020|Crypto News|

Today’s Bitcoin (BTC) futures expiry was lackluster both in terms of price impact and volume. Open interest dropped by a mere $157 million, barely moving from its $5 billion mark. As CoinTelegraph correctly predicted yesterday, this most recent CME Bitcoin futures expiry was irrelevant. Some $125 million worth of August contracts were set to liquidate today, although preliminary data indicates less than $40 million were not [...]

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Non event? Why Friday’s $272M CME Bitcoin futures expiry is irrelevant

2020-08-27T17:35:00+00:00 August 27th, 2020|Crypto News|

Chicago Mercantile Exchange (CME) Bitcoin futures and options markets are set to mature this Friday, leading some traders to fear that the most recent BTC dump is a presage of weakening markets.According to a September 2019 Cointelegraph and Arcane Research report, there is typically a 2.3% drop ahead of each monthly CME expiry. Given the size of the upcoming expiry, it’s worth taking a moment [...]

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Journeys in Blockchain: Dan Held of Kraken

2020-08-27T16:09:33+00:00 August 27th, 2020|Crypto News|

Dan Held is a Texan who doesn’t drive a truck, drink beer, love Trump, or watch sports. He’s a tech enthusiast who isn’t into coding. He looks like a typical preppy dude, wearing a white-button-up shirt and carrying a swoop haircut, but he flies drones, tinkers on full nodes, and writes about libertarian principles.He doesn’t match the usual stereotypes. “It’s been hard to reconcile that [...]

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6 Questions for Rob Viglione of Horizen

2020-08-26T17:16:05+00:00 August 26th, 2020|Crypto News|

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!This week our 6 Questions go to Rob Viglione, co-founder of Horizen.Rob is the team lead at Horizen, a blockchain platform that aims to enable an application-rich and inclusive ecosystem through leading-edge sidechain solutions. [...]

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Ethereum price lingers at key resistance days before $112M options expiry

2020-08-24T23:09:00+00:00 August 24th, 2020|Crypto News|

Ether (ETH) options contracts open interest have grown five-fold in the past three months to currently sit at $452 million.The $112 million set to expire this Friday could have a considerable market impact, although that will depend on the balance between bullish and bearish strategies.Ether options total open interest. Source: SkewThe above chart shows just how strong the ETH options market has been in the [...]

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Crypto Mass Adoption Will Be Here When… [Fill In The Blank]

2020-08-24T17:37:41+00:00 August 24th, 2020|Crypto News|

Some attention has been devoted in recent years to the matter of blockchain adoption — more specifically, when will blockchain technology go mainstream — and when it does, how will we even know? The question is somewhat problematic because blockchain is an infrastructure, operating in the background — out of sight — that runs across multiple industries and domains. In an effort to shed some light [...]

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Swipe (SXP) bounces after 54% crash — is $7 now a realistic target?

2020-08-24T14:42:00+00:00 August 24th, 2020|Crypto News|

Swipe (SXP), the 68th digital asset by market capitalization, has been one of the most volatile cryptocurrencies of the previous weeks. Fueled by a new cryptocurrency card and partnership with Binance, SXP price soared from $1.50 to $5 in a matter of days in mid-August. However, the price of Swipe dropped more than 50% to $2.30 over the past week.Crypto market daily performance snapshot. Source: Coin360Swipe [...]

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Bitcoin Stalls, Ethereum 2.0 Outage, IRS Crypto Crackdown: Hodler’s Digest, Aug. 18–24

2020-08-23T05:00:53+00:00 August 23rd, 2020|Crypto News|

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. Top Stories This WeekPro traders unfazed by Bitcoin price stalling at $12,400, data showsAnother week, another unsuccessful attempt at meaningfully cracking $12,000. Bitcoin suffered an 8.6% drop to as low as $11,370 after a stubborn rejection at $12,400. Now, technical analysts are cautiously anticipating a consolidation phase [...]

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Bitcoin Price Risks Dropping Below $10,000 if This Support Level Fails

2020-08-22T15:05:00+00:00 August 22nd, 2020|Crypto News|

As the price of Bitcoin (BTC) couldn’t break through the resistance level of $12,000, a retracement did not come as a surprise. In recent days, BTC/USD pulled back to $11,400, a correction of almost 10%.Crypto market daily performance snapshot. Source: Coin360Meanwhile, gold, silver and other commodities are also correcting due to a slight bounce of the DXY, or the U.S. Dollar Currency Index.What’s more, multiple [...]

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Bitcoin Options Open Interest Reaches $2B — Should BTC Traders Worry?

2020-08-21T19:23:00+00:00 August 21st, 2020|Crypto News|

The open interest on Bitcoin (BTC) options contracts has returned to $2 billion after briefly surpassing the level ahead of the July expiry.Since the beginning of 2020 the BTC options market has grown six-fold and this has led investors to question whether its potential price impact has become too extreme.Bitcoin options total open interest. Source: SkewJust over a third of these contracts are set to [...]

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Pro Traders Unfazed by Bitcoin Price Stalling at $12,400, Data Shows

2020-08-20T18:11:00+00:00 August 20th, 2020|Crypto News|

Bitcoin’s (BTC) recent rejection at $12,400 triggered $234 million in futures contract liquidations across derivatives exchanges. Despite a 30% rally in the past 30 days, maintaining the $11,700 level as support is undecided.Bitcoin hasn't seen a lower low ever since the mid-March 50% shakedown, which caused the price to test the sub-$4,000 level.Bitcoin USD 4-hour chart. Source: TradingViewSurely there have been ups and downs over [...]

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Journeys in Blockchain: Ray Youssef of Paxful

2020-08-20T13:57:39+00:00 August 20th, 2020|Crypto News|

“I’m coining this term right here, right now,” Ray Youssef declares. “Financial Apartheid.”The CEO and co-founder of Paxful is on a mission. “It’s what has held Africa back more than anything else.”“How advanced would the United States be if you couldn’t send money from New York to Florida? From New York to California? From Oregon to Washington? It wouldn’t be the United States! It would [...]

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Bitcoin Price $12K Breakout Fails — Here’s How Low BTC Can Now Drop

2020-08-19T14:28:00+00:00 August 19th, 2020|Crypto News|

The price of Bitcoin (BTC) broke through the resistance level of $12,000, which led to a new yearly high for the number-one cryptocurrency by market capitalization. However, the breakout was short-lived as the BTC price fell to $11,650 in recent days, marking a drop of almost 10% since the breakout. This drop caused the price of Bitcoin to drop back below the crucial resistance zone of [...]

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Monero-Mining Death Metal Band from 2077 Warns Humans on Lizard People Extinction Scheme

2020-08-18T17:51:18+00:00 August 18th, 2020|Crypto News|

“Thank you for calling the Clinic of Advanced Biological Computing, this is Dr. Elliott Fisher.”So began the strangest conversation I’ve had as a journalist, with a time-traveling group of Monero-mining musicians from the year 2077.A couple of months ago, Andrew Fenton wrote a story for Cointelegraph Magazine on crypto-related conspiracy theories. That story, and in particular the artwork that accompanied it, caught the attention of [...]

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Crypto Crimes Rated: From the Twitter Hackers to Not Your Keyser, Not Your Coins

2020-08-17T17:31:25+00:00 August 17th, 2020|Crypto News|

The high-profile Twitter hack — which saw malicious actors take over 130 verified accounts including Bill Gates and Elon Musk — managed to be both technically brilliant and incomprehensibly stupid at the same time. It was a multi-person attack, deep inside the company’s infrastructure, using sophisticated social engineering to defeat 2FA-protected accounts. But while the hackers were smart enough to defeat Twitter’s security, trawling through [...]

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Bitcoin Investors Swap for Ethereum ‘Wrapped BTC’ to Yield Farm and Chill

2020-08-17T16:56:00+00:00 August 17th, 2020|Crypto News|

Demand for the Wrapped Bitcoin (wBTC) has been growing tremendously in the last few weeks, with more than 23,100 wBTC ($274 million) currently in circulation.According to data from FlipsideCrypto, a digital asset data provider, more than half of these wBTC were minted in the past month as the decentralized finance sector saw record growth.Net wBTC supply since launch. Source: Flipside CryptoLaunched in 2019, wBTC is [...]

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Bitcoin Price Breaks $12K, But Is it the Final Hurdle Before $15K?

2020-08-17T16:27:00+00:00 August 17th, 2020|Crypto News|

In the previous weeks, altcoins gained momentum while Bitcoin (BTC) was hovering against the psychological barrier at $12,000. After a few weeks of consolidation, the price of Bitcoin finally broke the resistance zone of $12,000.However, it’s uncertain whether the price will continue moving upwards to $15,000 from here. Is the upside move a clear breakout or a fake-out intended to grab overhead liquidity?Crypto market daily [...]

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ETH Options Data Suggest $500 Ethereum Price is Closer Than It Seems

2020-08-16T23:10:00+00:00 August 16th, 2020|Crypto News|

Open interest on Ether (ETH) futures grew by 250% over the past three months to reach $1.7 billion. This incredible build up occurred as the cryptocurrency broke the $400 resistance to reach its highest levels in two years.ETH futures open interest in USD terms. Source: SkewUnfortunately, there is no way to ascertain whether futures contracts are mostly used for protection or are the result of [...]

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Bitcoin’s Big Advertising Blitz, ETH Hits Two-Year High, ‘Doctor Who’ on Blockchain: Hodler’s Digest, Aug. 10–17

2020-08-16T21:00:19+00:00 August 16th, 2020|Crypto News|

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. Top Stories This Week Bitcoin bulls stampede toward $12,000 as Ether hits a two-year high Once again, Bitcoin bulls have set their sights on cracking $12,000. It’s a battle fraught with risk, as multiple rejections at this stubborn level of resistance could be seen as a bearish [...]

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Record Ethereum Network Use and Gas Fees Pose Risk to DeFi Expansion

2020-08-15T21:31:00+00:00 August 15th, 2020|Crypto News|

The number of Ethereum network transactions more than doubled in 2020 and is now virtually identical to the January 2018 all-time high. As shown on the chart below, the number of transactions doubled in the past six months to stand at 1.23 million per day. Ethereum 7-day average daily transactions. Source: CoinMetricsThis situation might seem very bullish at first, but one must remember both EOS and Tron [...]

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6 Questions for Justin Rice of Stellar Development Foundation

2020-08-14T14:41:10+00:00 August 14th, 2020|Crypto News|

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week our 6 Questions go to Justin Rice, Head of Ecosystem at the Stellar Development Foundation. Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, [...]

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