🗞 Daily Crypto News & Video November, 24th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
https://youtu.be/xEAanH3UkXA
https://www.youtube.com/embed/xEAanH3UkXA
🗞 Market Wrap: Bitcoin Briefly Drops Below $18K While ETH Uncouples From BTC https://www.coindesk.com/market-wrap-bitcoin-drops-below-18k-eth-uncouples
Bitcoin dipped below $18,000 before recovering on higher-than-average spot volume. Meanwhile, ether’s price performance is showing a divergence from bitcoin.
Bitcoin (BTC) trading around $18,374 as of 21:00 UTC (4 p.m. ET). Slipping 0.85% over the previous 24 hours.
Bitcoin’s 24-hour range: $17,990-$18,752 (CoinDesk 20)
BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Another week has begun with higher-than-normal USD/BTC spot volumes, a factor that led to bitcoin’s bullish run last week. As of press time, daily volume hit $907 million, much higher than the past month’s daily average of $489 million.
Darius Sit, managing partner of quaint firm QCP Capital. said OXEx “possibly contributed” to the price rise, but a bigger problem has been cropping up on the mainland. “It’s not just OKEx but across the board – difficulties with getting fiat” out of China, Sit added.
BTC, ETH correlation breaking
Since Nov. 20, the price of bitcoin has been relatively stagnate, up only 3% as of press time.
According to data from CoinDesk Research, returns of bitcoin and ether were highly correlated in March, April and May on a 90-day rolling basis – even before the early March sell-off that took its toll on assets across the board. However, since June, correlations have mostly been lower.
🗞 Ethereum 2.0 Deposit Contract Secures Enough Funds to Launch https://www.coindesk.com/eth-2-0-deposit-contract-secures-enough-funds-to-launch
The smart contract required for triggering the first phase of Ethereum 2.0 has enough funds to begin activation of Ethereum’s most ambitious upgrade yet, which will radically shift Ethereum’s economic model, resource usage and governance.
The Ethereum 2.0 deposit contract, which was released in early November, has accrued more than 540,000 ETH (worth over $325 million) late Monday night, ensuring that the beacon chain for Ethereum 2.0 will launch next week, formally beginning the second-largest cryptocurrency’s shift from a proof-of-work consensus mechanism to a proof-of-stake one in hopes of solving a number of issues, including scalability.
The Ethereum Foundation had previously set a soft launch date for Dec. 1, assuming the deposit contract saw 524,288 ETH staked by Nov. 24. It hit the target with hours to spare, after more than 150,000 ETH were deposited in a 24-hour period.
Beacon chain
To be clear, the network itself isn’t launching just yet. The launch of Ethereum 2.0 will activate a parallel proof-of-stake blockchain dubbed “the beacon chain” to run in parallel alongside the existing Ethereum network. The initial phases of its development will not impact existing users and decentralized applications on Ethereum.
🗞 Bitcoin hits the front page of The Wall Street Journal https://cointelegraph.com/news/bitcoin-hits-the-front-page-of-the-wall-street-journal
After rallying 80% in two months, Bitcoin is recapturing media interest from the top end of town, with The Wall Street Journal discussing the cryptocurrency’s adoption among institutional investors on the front page of its Nov. 23 issue.
The report notes that Bitcoin has recently found support from “Wall Street billionaires” Paul Tudor Jones and Stanley Druckenmiller, alongside other public figures including a sports radio host.
https://pbs.twimg.com/media/EnhMGFQW4AguTWM?format=jpg&name=small
*"As paper money slowly dissipates and disappears from how people are using transactions, central banks especially on the retail side will need to replace paper money with forms of digital fiat currency.”*
https://www.youtube.com/embed/aZO4ddO0J_E
🗞 Binance Gives US Users 14 Days to Leave Exchange https://decrypt.co/49317/binance-gives-us-users-14-days-to-leave-exchange
Some Binance users in the US have received emails giving them 14 days to transfer their holdings out of the exchange.
According to the email, if they fail to do so, their account will be locked.
This is an escalation of earlier efforts to keep US users off the exchange.
Binance is again clamping down on US-based customers. And this time, it might really mean it.
The world’s largest cryptocurrency exchange has begun sending email notifications to users in the US, where Binance has no regulatory standing, giving them 14 days to close their account.
*“Dear user, as we constantly perform periodic sweeps of our existing controls, we noted that you are trying to access Binance while having identified yourself as a US person,”* the email, a copy of which Decrypt has obtained, reads. “Please note that as per our terms of use, we are unable to service US persons. You have 14 days to close all active positions on your account and withdraw all your funds, failing which your account will be locked.
That warning came a day after Binance announced that it would be launching Binance.US in partnership with relatively unknown BAM Trading. Binance.US offers fewer token pairings and isn’t available in all states, but it is regulated, theoretically providing a soft landing for those who want to transfer their account balances.
Binance’s most recent crackdown comes less than a week after it announced it was suing Forbes and two of its journalists for defamation after Forbes published an article claiming the exchange had planned to set up an American subsidiary, ostensibly Binance.US, to “distract regulators with feigned interest in compliance.”
🗞 Daily Crypto Calendar, November, 24th💰
Venus (XVS)
"The main network will launch on November 24, 2020 at 19:00 UTC"
Blockstack (STX)
AMA for the upcoming Stacks 2.0 Mainnet Launch that will answer all your questions about Stacks 2.0 and how it ties STX and BTC altogether.
Ampleforth (AMPL)
"#Ampleforth's next Geyser will be the Beehive V3 Geyser | Beehive V3 will launch in ~15 Days"
Ardor (ARDR)
"We are happy to announce our next #AMA event with @fsarrias presenting @Jelurida and #Ardor, hosted by @CryptoGalaxy_! Nov 24, 2020..." https://steempeak.com/trending/ama https://steempeak.com/@fsarrias https://steempeak.com/@jelurida https://steempeak.com/trending/ardor https://steempeak.com/@cryptogalaxy
IRISnet (IRIS)
"Upcoming AMA with @bsnbase at 4pm Nov 24 (UTC+8)" https://steempeak.com/@bsnbase
**Last Updates**
🗞 Daily Crypto News & Video, November, 23rd💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-23rd
🗞 Daily Crypto News & Video, November, 22nd💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-22nd
🗞 Daily Crypto News & Video, November, 21st💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-21st
🗞 Daily Crypto News & Video, November, 20th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-20th
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🗞 Daily Crypto News & Video November, 23rd💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
Video Coming up !
🗞 Crypto Long & Short: 4 Metrics That Show How the Current Bitcoin Rally Is Different From 2017 https://www.coindesk.com/bitcoin-rally-2020-vs-2017
Crypto markets have historically been led by retail investors, with professional investors following. Is that changing? After all, high-tech innovation in the past 15 years has executed an opposite about-face, flipping an enterprise-led pattern into a consumer-led pattern.
?Retail’s lead was evident in the fourth quarter of 2017, as media hype soared, alongside the price. There’s no doubt the retail hype is quieter this time around. CNBC had nearly 100 “bitcoin (BTC, +2.89%)” headlines in the first half of Q4 2017. These past six weeks, as bitcoin ran to a new all-time high in market value, it’s put up less than 40. Where the hell are Davy Day Trader and the “Robinhood effect” investors? Did their stimulus checks run out?
Bitcoin whales and trading vs. holding
The number of addresses holding at least 1 bitcoin increased at an unrelenting pace from the end of 2013 to the 2018 crash. It picked up again in 2019, then leveled off again this spring. This is different from the end of 2017, when it soared to a peak with the bitcoin price.
Bitcoin vs. ether and everything else
The 2017 bull market is remembered as a phenomenon driven by enthusiasm for initial coin offerings (ICOs) on Ethereum (ETH, +10.53%). However, by the time the frenzy reached its fever pitch, ether (ETH) had largely completed its run. At the midpoint of 2017 Q4, bitcoin returns were 23.9%; ether returns were 6.9%. It was bitcoin’s Q4 catch-up run that fed the bulls.
Regulated vs. off-shore futures markets
The “institutions are here” chorus can sing about the growth of the CME Bitcoin Futures market, signaling increasing demand for regulated exposure to bitcoin via established operations channels. Open interest on the CME hit $1 billion this week, an all-time high.
N. America vs. E. Asia investors
Parallel to the growth of CME futures is the flow of bitcoin onto North American exchanges, and off of East Asian exchanges.
🗞 Suzhou to launch digital yuan 'red envelope' trial for Double 12 event https://cointelegraph.com/news/suzhou-to-launch-digital-yuan-red-envelope-trial-for-double-12-event
The Chinese city of Suzhou will be the second to roll out a “red envelope” trial for the forthcoming digital yuan, according to a report in local media outlet The Paper.
Following the successful pilot scheme run in the city of Shenzhen last month, insiders say that the Suzhou district of Xiangcheng will be launching the giveaway to coincide with the country’s Double 12 shopping event on Dec. 12.
**Many businesses in the district have reportedly already installed near-field communication QR codes in anticipation of the trial.**
**The previous Shenzhen trial saw a total of 10 million digital yuan distributed to 50,000 winners of red envelopes in a lottery format draw.**
🗞 $20 Billion in Crypto Under Custody: Coinbase Sees 'Explosion of Capital' From Institutional Investors https://decrypt.co/49149/pickle-finance-hack
Coinbase has revealed that it has had “an explosion of incoming capital.” Its assets under custody currently stand at $20 billion, $14 billion of which were accumulated since April. Coinbase highlights a string of bullish events that have “really unleashed” a wave of institutional adoption.
Coinbase Has $20 Billion Under Custody
Coinbase’s Head of Institutional Coverage, Brett Tejpaul, talked about institutional demand for bitcoin in an interview with Heidrick & Struggles International, published on Friday.
Tejpaul has 25 years of experience in sales and trading, with almost 17 years at Barclays, and nine years at JPMorgan. He explained that he joined Coinbase six months ago, and is now “responsible for growing the institutional adoption of cryptocurrency, across sales, trading, custody, and Prime.” Prime is Coinbase’s services for institutional clients, including asset managers, hedge funds, and VCs.
He then highlighted recent bullish events in the crypto space, beginning with famed hedge fund manager Paul Tudor Jones, who said in May that he put about 2% of his portfolio into bitcoin. In October, Jones said that he saw much upside to bitcoin.
Jones’ decision “was important because it served as a calling card to other traditional macro firms, which are thinking about bitcoin as a store of value, bitcoin as a potential tail risk hedge to the portfolio,” Tejpaul detailed, adding:
*We have seen an unbelievable wave of institutions follow Paul’s lead.*
🗞 Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys https://news.bitcoin.com/coinbase-20-billion-cryptocurrency-custody-institutional-investors/
PayPal’s recent leap into the crypto market is helping to drive the current bitcoin rally, according to Pantera Capital, a prominent cryptocurrency and blockchain investment firm.
Indeed, all eligible PayPal account holders in the U.S. can now buy, hold and sell those cryptocurrencies – sooner than the payments firm anticipated, due to steep customer interest. Additionally, the firm recently upped its weekly crypto purchase limits to $20,000 from an initial $10,000.
*“BOOM! The results are already apparent,” Dan Morehead, chief executive and founder of Pantera, wrote in the November letter. “When PayPal went live, volume started exploding.”*
Pantera claims that PayPal is already buying almost 70% of the new supply of bitcoins. Together with Square’s Cash App routine bitcoin buying, more than 100% of all newly minted bitcoins is accounted for, Pantera alleges.
🗞 Daily Crypto Calendar, November, 23rd💰
DigitalNote (XDN)
2XDN tokens are going to be distributed FREE via airdrop to those who will be holding DigitalNote XDN coins at the block number 300,000...
Stellar (XLM)
"Reminder - On Monday 11/23/2020 at 1600 UTC, validators will hold the vote to upgrade the public network to Protocol 15."
Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Bolt (BOLT)
Every week our dev-team shares our progress and updates to the Community.
ARPA Chain (ARPA)
"Deposit $ARPA on #Bella Flex Savings on Nov 23rd and start smart, auto and secure farming. Also, the current APY for $ARPA on..." https://steempeak.com/trending/bella
**Last Updates**
🗞 Daily Crypto News & Video, November, 22nd💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-22nd
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🗞 Daily Crypto News & Video November, 22nd💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
As it is Sunday, no Daily Crypto News Video but below are the most important news of the day
Have a great weekend.
🗞 Parabolic rally ‘a real possibility’ after Ethereum price surges to $547 https://cointelegraph.com/news/parabolic-rally-a-real-possibility-after-ethereum-price-surges-to-547
The price of Ether (ETH), the native cryptocurrency of Ethereum, has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term.
In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018. As such, $600 could act as an area of interest for sellers.
But, traders also believe that if Ether surpasses $600, it would likely enter the $700 to $900 range. Above it, there is little resistance until the all-time high.
Ethereum's outlook remains positive
The Ethereum network has seen numerous catalysts come into play in recent months.
First, the Ethereum 2.0 network upgrade is progressing, as a large number of Ether continues to flow into the deposit contract address.
*“Following in $BTC's footsteps, $ETH has hit a 29-month high of $509. June 21, 2018 was the last time the price was this high for the #2 market cap asset.* *#Ethereum**'s top 10 holders rising, combined with coin supply on exchanges, have fueled this rally."* https://steempeak.com/trending/ethereum
🗞 XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave https://www.coindesk.com/xrp-rises-more-than-30-as-altcoins-surf-bitcoins-wave
XRP has surged to 16-month highs, leading a pack of cryptocurrencies all benefiting from bitcoin’s rally toward historic levels.
XRP (XRP, +27.39%), the native asset of the XRP ledger, developed by payment-focused blockchain firm Ripple Labs, climbed to as high as $0.437564 before retreating to $0.413853 at press time, reaching the highest price point since July 2019, according to The CoinDesk 20.
The third-largest cryptocurrency by market value has gained over 33% in the past 24 hours, extending the year-to-date gain to 116%.
*$19,783 reached in December 2017.
“Altcoins are high beta assets and usually move in the same direction as bitcoin, but more,”* trader and analyst Alex Kruger tweeted on Friday. Alternative cryptocurrencies can be considered as leveraged bitcoin plays, according to Kruger.
Bitcoin, the top cryptocurrency by market capitalization, has charted a steep rally from $10,000 to nearly $19,000 in the past eight weeks.
🗞 DeFi Protocol Pickle Finance Hacked For $20 Million https://decrypt.co/49149/pickle-finance-hack
Pickle Finance, a DeFi protocol, was hacked to the tune of almost $20 million.
The hackers’ approach is still unknown, though some analysts are saying it doesn’t resemble a typical flash loan attack.
But why create stablecoins of currencies as damaged as the Argentine peso and Brazilian real, which respectively lost 30% and 20% of their value relative to the dollar in the past year?
The coffers of Pickle Finance, a decentralized finance (DeFi) protocol with a native token that looks suspiciously like Pickle Rick, of Rick and Morty fame, were drained today of $20 million in what appears to be a hack.
Pickle Finance shifts investors’ money around different DeFi protocols to maximise returns, a little like a traditional robo-advisor.
🗞 USDT Towers Over 30 Stablecoins- Tether's Market Cap Grew by 2 Million Percent in Just Four Years https://news.bitcoin.com/usdt-towers-over-30-stablecoins-tethers-market-cap-grew-by-2-million-percent-in-just-four-years/
During the last two years since the initial bear market after the 2017 bull run, stablecoins have been extremely popular. Today, statistics show that the market capitalization of all the notable stablecoins today is hovering above the $23.9 billion mark. Out of more than 30 stablecoins in 2020, tether is still a behemoth capturing 76.15% of the entire market share. Since January 2016, the stablecoin tether’s market valuation has grown a whopping 1.9 million percent from $951k to $18.5 billion.
Tether’s Market Cap Jumps from a Million to Over $18 Billion in a Four-Year Time Span
The stablecoin tether (USDT) is by far the most used dollar-pegged token in existence today and the project has grown massively since its inception. At the time of publication, the token USDT was issued 2,236 days ago on October 6, 2014, on the Bitcoin blockchain by leveraging the Omni Layer Protocol.
Statistics show that Binance and Huobi Global are the top two exchanges swapping USDT today. The concentration of large tether (USDT) holders is 29% on November 21, 2020, while USDT’s price correlation with BTC is -0.37. During the last seven days, recorded USDT transactions above the $100k region show $16.1 billion has been settled this past week. 45% of USDT transactions stem from the western hemisphere, and 55% come from the eastern side of the world.
🗞 Daily Crypto Calendar, November, 22nd💰
Verus Coin (VRSC)
Verus reward halving at block 1,278,000, which is anticipated to occur on Nov 22.
KardiaChain (KAI)
"D2M studio, a gaming pioneer on KardiaChain, launches a Battle Royale named $KAI Zodiac Hunger Games."
Vision Network (VSN)
AMA with the Vision Network creator discussing Proof of Vision 100$ for the best question.
**Last Updates**
🗞 Daily Crypto News & Video, November, 21st💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-21st
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🗞 Daily Crypto News & Video November, 21st💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
As it is Saturday, no Daily Crypto News Video but below are the most important news of the day
Have a great weekend.
🗞 Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B https://www.coindesk.com/market-wrap-bitcoin-hits-18-8k-defi-passes-14b
Ether moving out of DeFi
The price of bitcoin hit new 2020 highs as the “alternative to gold” narrative increases. Meanwhile, smaller crypto tokens might be helping push DeFi to new heights.
Bitcoin (BTC) trading around $18,638 as of 21:00 UTC (4 p.m. ET). Gaining 3.5% over the previous 24 hours.
Bitcoin’s 24-hour range: $17,723-$18,813 (CoinDesk 20)
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Despite any cooldown that may occur, bitcoin is certainly hotter than gold so far in 2020, with bitcoin up 147% year to date versus the yellow metal’s 22% performance.
In the derivatives market, options traders are betting on some bitcoin uncertainty for December expiration. Traders expect a 54% chance of bitcoin staying over $18,000, a 44% chance of $19,000 per 1 BTC and a 35% chance of $20,000.
TVL in DeFi going up, but not from BTC, ETH
The total amount of cryptocurrency “locked” (TVL) in decentralized finance, or DeFi, has passed $14 billion for the first time, at $14.1 billion as of press time.
It seems that smaller tokens are seeing major gains along with BTC and ETH, likely contributing to TVL gains, although as of press time DeFi Pulse did not respond to a request for comment on how it accounts for those tokens in its metrics.
🗞 US regulator wants to stop banks from blacklisting legal businesses, crypto included https://cointelegraph.com/news/us-regulator-wants-to-stop-banks-from-blacklisting-legal-businesses-crypto-included
The OCC’s announcement points to political hot-button issues that banks have systematically denied services to, including oil and gas companies in Alaska as well as Planned Parenthood.
Speaking to the media, Brooks noted the bipartisan nature of many of these bans: “These things are not politically partisan, but there are all kinds of attempts that we’ve seen to politically weaponize the banking system.” He continued: “There is a creeping politicization of the banking industry that has the potential to be very dangerous.”
Brooks told Cointelegraph:
*“There is no place within the United States where crypto is illegal, but there are different licensing requirements for companies involved with businesses so obviously if a bank was banking one of those businesses, one of the things that bank would look at as part of its diligence is whether that exchange or other business had the relevant approvals in that state.”*
🗞 Argentina and Brazil Get Their Own Stellar Stablecoins https://decrypt.co/49094/argentina-and-brazil-get-their-own-stellar-stablecoins
Settle Network and Stellar have created two stablecoins for the Latin American market.
The ARST is tied to the Argentine peso, while the BRLT is tied to the Brazilian real.
The stablecoins should make remittances between the two economies easier.
In a world where banks can make international transactions very slow, if not downright difficult, blockchain technologies can provide a safe, fast, and efficient alternative for sending money. However, the volatility associated with cryptocurrencies makes them a little scary for most of the world's population.
The announcement for the stablecoins was made on November 19 during Stellar's Meridian conference.
But why create stablecoins of currencies as damaged as the Argentine peso and Brazilian real, which respectively lost 30% and 20% of their value relative to the dollar in the past year?
🗞 BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent https://www.coindesk.com/blackrock-exec-says-bitcoin-could-replace-gold-to-a-large-extent
The chief decision maker for where BlackRock, the world’s largest asset manager, invests its funds said bitcoin could take the place of gold to a large extent because crypto is “so much more functional than passing a bar of gold around.”
Speaking during CNBC's Squawk Box on Friday, BlackRock CIO of Fixed Income Rick Rieder responded to a question asking if governments might try to regulate bitcoin (BTC, +2.59%) if its price keeps rallying.
"I think cryptocurrency's here to stay, I think it is ... durable," he said.
Alongside central banks developing digital currencies, millennials' "receptivity" to technology and cryptocurrency "is real, digital pay
"Do I think it's a durable mechanism that ... could take the place of gold to a large extent? Yeah, I do, because it's so much more functional than passing a bar of gold around," Rieder said.
🗞 Daily Crypto Calendar, November, 21st💰
SINOVATE (SIN)
"SINOVATE (SIN) is delighted to confirm that the AURORA mainnet upgrade will go-live at block height 550,000 (taking place around 21 Nov..."
Asko (ASKO)
"Over the next 2-3 weeks, we'll be refreshing our website, showcasing our updated brand, and beginning AskoLend marketing."
Kin (KIN)
"We anticipate sharing a list next week of all those supporting the migration and instructions on what to do..."
TrueUSD (TUSD)
"Meet #TrueFi: Uncollateralized Lending by @TrustToken | Our most ambitious project launching Nov 21" https://steempeak.com/trending/truefi https://steempeak.com/@trusttoken
Celsius Network (CEL)
"CEL/BTC, CEL/ETH trading will be effective on November 21, 2020."
**Last Updates**
🗞 Daily Crypto News & Video, November, 20th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-20th
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🗞 Daily Crypto News & Video November, 20th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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https://youtu.be/QoBCxgamSR4
🗞 Market Wrap: Bitcoin Hangs Around $18K While Ether Locked in DeFi Declines https://www.coindesk.com/market-wrap-bitcoin-hangs-18k-ether-defi-declines
Bitcoin steadied around $18,000 after record volumes on Wednesday while Ethereum 2.0 may be causing some investors to move ether out of decentralized finance (DeFi).
Bitcoin (BTC) trading around $18,026 as of 21:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours.
Bitcoin’s 24-hour range: $17,364-$18,170
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Volume contributed to the weakening price action. At $1.79 billion, Wednesday was the highest volume day for major USD/BTC spot exchanges since way back on March 13, when volumes hit $1.98 billion the day after the “Black Thursday” crash. Today, daily volume on these exchanges were at a comparably tepid $867 million.
Since Oct. 20, bitcoin’s 30-day volatility has been steadily rising, indicating that some price gyrations may still be on the horizon.
Ether moving out of DeFi
The amount of ether “locked” in decentralized finance, or DeFi, is declining. The fall began Nov. 14, going from 8.9 million to 7.7 million ETH as of press time, according to aggregator DeFi Pulse.
Jean-Marc Bonnefous, managing partner for investment firm Tellurian Capital, suspects some of the ether movement out of DeFi might have to do with Ethereum’s ambitious “2.0” project. This requires some capital allocation to a smart contract set aside for staking something known as the “beacon chain” to launch the new network.
🗞 Bitcoin Options Investors Are Starting to Hedge Against Potential Price Pullback https://www.coindesk.com/bitcoin-puts-hedge-volatility-spike
Bitcoin’s options market data shows investors are beginning to position for a temporary retreat from the cryptocurrency’s steep bull run.
The one-month implied volatility, which is influenced by the demand for call and put options, jumped from roughly 55% to a four-month high of 70.5% in the past two days, suggesting increased expectations for price turbulence over the next four weeks.
The one-month gauge is currently seen at 65%. Implied volatility metrics for longer durations have also recovered from recent lows.
Options are derivative contracts that give the purchaser the right but not the obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy, and the put option represents the right to sell. Implied volatility, a key component in calculating the price of an option, is the expected standard deviation of returns over a selected period and is expressed in annualized terms.
🗞 Ethereum Price Breaks $500 for First Time Since 2018 https://decrypt.co/48945/ethereum-breaks-500-for-the-first-time-since-2018
The price of Ethereum has risen above the $500 barrier for the first time since 2018. The last time the cryptocurrency was above $500 was July 2018.
Ethereum has been the talk of the town in recent months as the crypto community anticipates the release of Ethereum 2.0, a massive upgrade to the Ethereum network that aims to solve long standing scalability issues plaguing the Ethereum network. But while we wait for this upgrade, Ethereum's price has kept rising.
*"Ethereum has the network, it has the attention and now we are starting to see the true price discovery start,"* Charles Storry, co-founder of PhutureDAO, told Decrypt.
🗞 Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in Borrowing Expected in Q4 https://news.bitcoin.com/report-pandemic-response-pushed-global-debt-to-272-trillion-in-q3-5t-in-borrowing-expected-in-q4/
The Institute of International Finance (IIF) says global debt will soar to a record $277 trillion by the end of 2020 as governments and companies continue to spend in response to the COVID-19 pandemic. Already, the debt has ballooned by $15 trillion this year to $272 trillion through September. Governments from developed markets account for more than half of that increase, according to the IIF’s Global Debt Monitor.
Governments from Developed Markets Are the Biggest Borrowers
According to a report, debt repayments will prove to be “much more onerous” despite the “record-low borrowing costs across the globe.” Declining revenues to emerging market governments will be partly to blame. IIF data shows that emerging market debt-to-GDP hit nearly 250% in the third quarter.
Risks of Deleveraging
Meanwhile, the IIF data shows that the US, which has borrowed heavily in the year, will see its debt hitting $80 trillion in 2020 up from $71 trillion in 2019. Similarly, in the Euro area, the “debt rose by $1.5 trillion to $53 trillion through September.”
🗞 Daily Crypto Calendar, November, 20th💰
Lisk (LSK)
"Want to learn more about the Lisk Center Berlin and get updates about the Research and Development progress? On November 20th, at 6pm..."
Wabi (WABI)
Wabi masternodes rewards distribution.
Catex Token (CATT)
"November 20th - Opening of CATT DeFi webpage"
Newscrypto Coin (NWC)
"Crypto VIP Signal will host #AMA with @NwcPublic on 20th Nov/Tommorow" https://steempeak.com/trending/ama https://steempeak.com/@nwcpublic
Crypto.com Coin (CRO)
"#BKEX will list #CRO @cryptocom | - Trading pair: CRO/USDT - Trading time: 15:00 on Nov 20 (UTC+8)" https://steempeak.com/trending/cro https://steempeak.com/@cryptocom
**Last Updates**
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🗞 Daily Crypto News & Video November, 19th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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https://youtu.be/vLrdhlGs_8Q
🗞 Market Wrap: Bitcoin Hits $18.4K; $260M in Ether Options Expire in December https://www.coindesk.com/market-wrap-bitcoin-260m-ether-options
Higher spot volumes Wednesday – and record volumes for the past month – are helping push bitcoin higher. Meanwhile, ether options for December pass 550,000 ETH.
Bitcoin (BTC) trading around $17,688 as of 21:00 UTC (4 p.m. ET). Gaining 0.17% over the previous 24 hours.
Bitcoin’s 24-hour range: $17,571-$18,474 (CoinDesk 20)
BTC below its 10-day moving average but above the 50-day, a sideways signal for market technicians.
Volumes were much higher than normal Wednesday, with major spot USD/BTC over $1.6 billion as of press time, surpassing this past month’s Nov. 5 high.
Ether options traders bet on 2.0
The amount of open ether options for December expiration has surpassed 550,000 ETH, worth more than $260 million as of press time.
*“Our theory is that this open interest pattern in ETH was strictly due to traders positioning themselves for an ETH 2.0 phase 0 launch, or yet another delay,” said Greg Magadini, chief executive officer of options data aggregator Genesis Volatility. “Even while BTC options had open concentrated in different expiration months, ETH consistently had open interest concentrated in December.”*
🗞 OKEx Token Price Rises 11% on Rumors of Founder’s Release https://decrypt.co/48775/okex-token-price-rises-11-rumors-founders-release
OKEx paused withdrawals after its founder was reportedly taken into police custody in mid-October. Word’s out that he’s getting out.
OKB, the coin that powers Chinese cryptocurrency exchange OKEx, jumped by 11% today after rumors surfaced that Chinese authorities have released from custody the exchange’s founder, Mingxing “Star” Xu.
When Xu was detained in mid-October, the price of OKB fell from about $6.00 to $4.26. The exchange paused withdrawals after reports surfaced that Chinese police had taken Xu into custody.
OKEx disputes this characterization and has denied rumors that Xu was detained for money laundering. Decrypt has reached out to OKEx for further comment, though moderators have already banned us from its Telegram chat for discussing “fake-news”.
🗞 Survey of millionaires finds 73% own or want to invest in crypto https://cointelegraph.com/news/survey-of-millionaires-finds-73-own-or-want-to-invest-in-crypto
A survey of more than 700 high net worth individuals, or HNWs, has found that almost three-quarters of millionaire respondents either already own or are looking to invest in cryptocurrencies before the end of 2022.
Conducted by financial advisory organization deVere Group, the survey revealed that 73% of respondents are bullish towards cryptocurrencies, an increase from 68% in 2019.
Participants were individuals who had more £1 million, which equates to approximately $1.32 million USD. They were selected from a wide variety of regions including the U.S., the U.K., Asia, Africa, the Middle East, Australia, and Latin America.
DeVere Group CEO and founder Nigel Green, noted in the survey that Bitcoin had once again been one of the best-performing asset this year with a year-to-date increase of 125%, adding:
*“As the survey shows, this impressive performance is drawing the attention of wealthy investors who increasingly understand that digital currencies are the future of money and they don’t want to be left in the past."*
🗞 Binance Files Defamation Suit Against Forbes Reporters https://decrypt.co/48752/binance-files-defamation-suit-against-forbes-reporters
Forbes published a story in October that purported to reveal a Binance strategy to evade regulations.
Binance has sued the publication and two reporters, calling elements of the story defamatory.
It is seeking compensatory and punitive damages as well as the removal of the article.
According to the complaint, filed today in US District Court in the District of New Jersey, the article—”Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme to Evade Bitcoin Regulators”—“contains numerous false, misleading and defamatory statements about Binance.”
The Forbes article relies on “a document thought to be created by a senior executive” and “believed to have been seen by senior Binance executives,” including CEO Changpeng “CZ” Zhao. The so-called “Tai Chi” document was reportedly a powerpoint outlining a plan to set up an American subsidiary, ostensibly its independently operated namesake Binance.US, to “distract regulators” and then “move revenue in the form of licensing fees and more to the parent company, Binance.”
According to the lawsuit, the “Defendants’ false public statements, misrepresentations and innuendo that Binance does not comply with applicable law, seeks to evade regulators, and is engaged in activity ‘characteristics of money laundering’ are highly damaging to Binance.”
🗞 Daily Crypto Calendar, November, 19th💰
Golem (GNT)
"On November 19, 2020 at 4pm CET we will begin the anticipated GNT migration process."
Bolt (BOLT)
Our bi-monthly newsletter! Are you interested about our latest progress developments? Make sure to read.
Veros (VRS)
VRS Token Liquidity increase program. Suspension of the bonus program for wallets for 6 months. November 19, 2020.
Wanchain (WAN)
"The Storeman node selection process has begun! Make sure to register your node before November 19th and make #DeFi history by helping..." https://steempeak.com/trending/defi
BEAM (BEAM)
"BeamX will launch November 19th, with the first iteration being an experimental network, aiming to flesh out the infrastructure..."
**Last Updates**
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🗞 Daily Crypto News & Video November, 18th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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https://youtu.be/6Uv_3tLBtkw
https://www.youtube.com/embed/6Uv_3tLBtkw
🗞 Market Wrap: Bitcoin Breaks $17.8K, Outperforming Ether in November So Far https://www.coindesk.com/market-wrap-bitcoin-blows-past-17-8k-outperforms-ether
Spot volumes and futures open interest pushed bitcoin’s price up Tuesday, beating ether’s performance so far this month.
Bitcoin (BTC) trading around $17,688 as of 21:00 UTC (4 p.m. ET). Gaining 5.3% over the previous 24 hours.
Bitcoin’s 24-hour range: $16,560-$17,862
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Bitcoin futures open interest on institutional investor venue CME is at a record high Tuesday, hitting $976 million, according to data aggregator Skew.
*“Bitcoin has continued to power on, but behind the raging bull there is a growing level of sophistication and capital allocation techniques,”* said Denis Vinokourov, head of research for crypto brokerage Bequant.
Spot volumes on major USD/BTC exchanges were booming Tuesday, at over $1.1 billion daily volume as of press time and much higher than the $413 million daily average the past month.
Ether lagging bitcoin in November
Bitcoin’s price performance is actually beating ether in November as of press time, up 28% versus 24%.
🗞 Bitcoin Closes in on All-Time High as it Blasts Through $18K https://www.coindesk.com/bitcoin-price-breaks-18k
Bitcoin (BTC, +6.43%) is now up 146% on a year-to-date basis and has gained nearly 70% so far this quarter, according to CoinDesk 20 data.
*“A few recent events have undoubtedly had an impact,” said Antoni Trenchev, co-founder and managing partner at crypto lender Nexo. “Institutional investment by the likes of MicroStrategy and Square, PayPal actively shilling crypto, and the bitcoin halving in May,”* were likely causes for bitcoin’s continual rise.
Others see global events such as COVID-19 and negative interest rates in traditional markets, such as Germany, as the outliers for bitcoin’s meteoric rise this year.
*“Interest rates are the most important factor in people’s decisions on where to deposit money,” said Ki Young Ju, CEO at analytics firm CryptoQuant. “I’m sure negative interest rates will drive adoption in crypto whether it’s direct purchasing crypto/index funds or using staking services.”*
🗞 Ethereum's top 10 DApps hit 1M users this month https://cointelegraph.com/news/ethereum-s-top-10-dapps-hit-1m-users-this-month
Ethereum-powered decentralized applications, or DApps, have attracted more than one million active users over the last 30 days according to analytics platform DappRadar.
This milestone comes as interest in decentralized finance, commonly referred to as DeFi, received a second wind, with the number of users growing by 11% in the first 11 days of November.
The ten DApps, six of which describe themselves as providing “DeFi and exchange” services, represent more than $21 billion in combined trading volume over the last 30 days.
**The top three DApps — Crypto.com’s DeFi Swap, Uniswap, and Compound — account for the lion’s share, with more than 930K users between them. DeFi Swap had 509.6K, Uniswap had 276.7K, and Compound had 143.9D users.** None of the remaining seven DApps had more than 30,000 users across the month.
However, it turns out it wasn’t the DeFi bubble that burst, but rather a ‘Sushiswap and Uniswap’ bubble that burst. Removing these projects out of the equation and the number of active addresses has shown little change over the last three months.
The number of total active users on Ethereum has been on the rise this year reaching a 33-month high last month. Data from analytics platform Glassnode Studio showed the number of active addresses increasing from January’s low below 2.8 million to 5.9 million in October.
🗞 Game of Thrones Star Maisie Williams Wants to Know if She Should Buy Bitcoin https://news.bitcoin.com/maisie-williams-bitcoin-elon-musk/
Game of Thrones and The New Mutants actress Maisie Williams has started a poll on Twitter seeking opinions on whether she should invest in bitcoin. Among those who replied was Spacex and Tesla CEO Elon Musk who wrote: “Toss a bitcoin to your Witcher.”
Should Maisie Williams Go Long on Bitcoin?
As the price of bitcoin continues to surge, the cryptocurrency has attracted the attention of not only institutional investors but also celebrities. One of the latest is Maisie Williams, a 23-year-old English actress with 29 acting credits, according to her IMDB profile page. She is famed for her role as Arya Stark in the popular TV series Game of Thrones and as Rahne Sinclair, aka Wolfsbane, in X-Men reboot The New Mutants. According to the website celebritynetworth.com, Maisie Williams’ net worth is $6 million and her salary is about $150,000 per episode.
Spacex and Tesla CEO Elon Musk also replied to Maisie Williams’ tweet. He wrote, “Toss a bitcoin to ur Witcher,” wrapped between musical note symbols. Musk likely referred to “Toss a Coin to Your Witcher,” a song from the Netflix TV series The Witcher, starring Superman actor Henry Cavill and Freya Allan, but not starring Williams.
🗞 Daily Crypto Calendar, November, 18th💰
General Event (CRYPTO)
Malta AIBC Summit from Nov 18 - 19, discussing AI, blockchain, IoT, Quantum Tech, and other emerging technologies.
Sologenic (SOLO)
"Join us on Nov 18, 2020 at DeFi x SOLO Summit where we'll introduce $SOLO Tokenization Asset Simulator!"
Blockstack (STX)
"An AMA series for the upcoming Stacks 2.0 Mainnet Launch and how you can earn BTC when stacking STX."
Horizen (ZEN)
"ZEN 2.0.21 Mainnet Deprecation - Block 831936, around Nov 17/18."
GalaxyCash (GCH)
"#GCH (@cash_galaxy) currency is going to be delisted from Crex24 on 18.11.20 as the devs appeared to have abandoned this project." https://steempeak.com/@cash
**Last Updates**
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🗞 Daily Crypto News & Video November, 17th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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https://youtu.be/GGE72d_YIaM
https://www.youtube.com/embed/GGE72d_YIaM?t=3
🗞 Market Wrap: Bitcoin Ascends to $16.8K; Uniswap and Tether 35% of Ethereum Transactions https://www.coindesk.com/market-wrap-bitcoin-ascends-uniswap-tether-ethereum
Bitcoin is knocking at the gates of $17,000 while Ethereum’s transaction growth in 2020 is a positive indicator of future financial use cases.
Bitcoin (BTC) trading around $16,829 as of 21:00 UTC (4 p.m. ET). Gaining 6.1% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,792-$16,851
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Momentum, as measured in the form of volume, was at $688 million as of press time, higher than the past month’s $404 million daily average on major spot exchanges.
According to several analysts, the climbing value of bitcoin is also giving the world’s oldest cryptocurrency an increasing use as value storage for lending, both from centralized players and in decentralized finance, or DeFi. Since November 2019, the amount of bitcoin “locked” in DeFi, for example, has skyrocketed from 1,422 to 174,673 BTC, a 12,183% increase.
Uniswap, tether dominate Ethereum transactions
Since the start of July, the Ethereum network has been averaging over one million transactions per day, according to data aggregator Glassnode. That number of transactions was first experienced three years ago during the 2017-2018 crypto market bubble.
🗞 Median DeFi token return on par with Bitcoin this year https://cointelegraph.com/news/median-defi-token-return-on-par-with-bitcoin-this-year
Despite a pull back from the meteoric bull market for decentralized finance, the average DeFi token return has vastly outperformed Bitcoin and Ethereum. The median performance is a different story however.
On Nov. 17, pseudonymous crypto analyst ‘Ceteris Paribus’ shared data with his 12,000 followers compiling the YTD median and average performances of 40 top crypto assets, comprised of 38 top DeFi assets, Bitcoin (BTC) and Ether (ETH). Around 26 of the DeFi assets are currently posting YTD gains.
The analyst found that the median return sits around 148.8%, which is 15.5% above Bitcoin’s 133.3% YTD gain. So half of DeFi tokens are above that level, and half below. Paribus said it was pretty much even:
*"Strong rebound in November so far but unlike summer, median token return has matched $BTC, not outperformed."*
🗞 Ethereum Only 18% Ready for ETH 2.0 With One Week to Go https://decrypt.co/48450/ethereum-2-only-18-percent-ready-one-week
Ethereum’s 2.0 upgrade needs over 524,000 ETH by November 24 in order to launch on December 1, as planned. Right now, it’s only 18% of the way there.
Ethereum’s long-awaited 2.0 upgrade is contingent on users pouring a large amount of ETH into its deposit contract.
The upgrade is set to be released December 1, but only about 18% of the required amount has been staked.
If the full amount isn’t deposited in time, the project will face delays. Again.
Ethereum 2.0 aims to do away with this puzzle process altogether. On a proof-of-stake blockchain, the network validates new transactions by choosing a “staker,” and the person chosen is determined by how many tokens they hold. This system requires a certain amount of total tokens in order to begin operating, which is why Ethereum 2.0 needs 524,000 ETH. (That’s roughly $243 million worth of Ethereum, at today’s prices.)
Most of the investments so far have come in large chunks, with Ethereum cofounder Vitalik Buterin himself committing 3,200 ETH ($1.4 million) to Ethereum 2.0. One address, bb84d966c09264ce9a2104a4a20bb378369986db, has committed a whopping 17,088 ETH (about $8 million).
🗞 4th Major DeFi Hack In A Month: Origin Dollar Loses USD 7m https://cryptonews.com/news/4th-major-defi-hack-in-a-month-origin-dollar-loses-usd-7m-8331.htm
*"A superior stablecoin for the Ethereum network,"* Origin Dollar (OUSD), has been hacked, becoming at least the fourth decentralized finance (DeFi) project, attacked less than in a month.
*"There has been a loss of funds of around USD 7m, including over USD 1m of funds deposited by Origin and our founders and employees,"* confirmed Matthew Liu, Co-Founder of Origin Protocol (OGN), a San Franciso-headquartered peer-to-peer commerce startup, that launched OUSD in September this year. OUSD automatically earns yields from DeFi protocols while it’s still sitting in a wallet.
*"We are not going away. This is not a rug pull or internal scam," Liu said, adding that they're "actively working on measures in an attempt to recoup the funds." Also, they're asking the hacker to return the funds and promised to "hire you as a security consultant" and "not to pursue you or any legal action against you."*
Liu also claims that the team has now traced funds and knows that the attacker used both Tornado Cash and renBTC to wash and move funds.
"Currently, there is still 7,137 ETH and 2.249m DAI sitting in one of the attacker’s wallets," Liu added. According to him, the attack was a re-entrancy bug in their contract. One of the most well-known re-entrancy attacks was the DAO hack in 2016, which drained it of some ETH 3.6m, at the time valued at some USD 50m.
The Co-founder said that the attacker was able to sell some OUSD on Uniswap and Sushiswap decentralized exchanges for USDT.
🗞 Daily Crypto Calendar, November, 17th💰
Zcash (ZEC)
Halving
Blockstack (STX)
Join STX Co-Founder Muneeb Ali in the Binance Youtube Channel as he talks about the upcoming Stacks 2.0 Mainnet Launch.
Dentacoin (DCN)
"IMPORTANT: Dentacoin is delisting from Vindax exchange. Please withdraw your DCN tokens until November 17, 2020."
CENTEX (CNTX)
"#CNTX (@centexio) currency is going to be delisted from Crex24 on 17.11.20 due to the CNTX developer request." https://steempeak.com/@centexio
GEEQ (GEEQ)
Geeq's Web-Based Staking is coming, find out more in the Staking Overview.
**Last Updates**
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🗞 Daily Crypto News & Video November, 16th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 Stocks boom, dollar gloom: 5 Things to watch in Bitcoin this week https://cointelegraph.com/news/stocks-boom-dollar-gloom-5-things-to-watch-in-bitcoin-this-week
Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action?
Cointelegraph takes a look at the factors which could shape how Bitcoin moves in the coming days.
Stocks near all-time highs while USD sinks
This week’s macro environment feels somewhat different to the last — stocks are gaining, boosted by a major Asian trade deal, while the U.S. dollar is losing ground.
According to the latest data on Nov. 16, the U.S. dollar currency index (DXY) has declined over the past week to hit 92.58 from post-election highs of 93.2. Traditionally, Bitcoin moves inversely with DXY, and despite this relationship becoming less pronounced recently, heavy moves in either direction can still impact BTC/USD.
Bitcoin in 3rd highest weekly close
Bitcoin’s weekend price action has allowed it to start its third best week in history after sealing a weekly close above the seminal $15,890 area.
Institutions aren’t selling
In the event, $16,000 returned, with publishing-time levels circling $16,250 prior to Wall St. opening.
Fundamentals trend upward
Signs of bullish change already permeate Bitcoin’s network fundamentals despite the increasing warnings of a price dip.
Estimates from monitoring resource BTC.com on Monday show that Bitcoin’s mining difficulty is now set to increase by around 4% in the coming hours. The latest automated readjustment for difficulty, estimates previously forecast a drop of approximately 6%, but subsequently reversed direction.
🗞 Bitcoin Cash Has Split Into Two New Blockchains, Again https://www.coindesk.com/bitcoin-cash-has-split-into-two-new-blockchains-again
The Bitcoin Cash network, a result of a hard fork from Bitcoin, has split into two new blockchains, again. At press time, Bitcoin Cash ABC (BCH ABC) has received no hashpower, meaning that it is possible Bitcoin Cash Node (BCHN) will become the dominant software of the Bitcoin Cash network, according to data from Coin.Dance.
The last “common block” among bitcoin cash (BCH, -1.16%) miners was #661647, mined by Binance. The first block that split the Bitcoin Cash blockchain was mined by AntPool. Since then, hashpower has been in BCHN’s favor, as miners have mined multiple consecutive blocks on the network.
Before the fork, 80% of miners were signaling support for BCHN.
To recap, a group of Bitcoin Cash developers led by Amaury Sechet, known as BCH ABC, proposed an update on the Bitcoin Cash network, which has included a controversial new “Coinbase Rule,” which requires 8% of mined bitcoin cash to be redistributed to BCH ABC as a means of financing protocol development.
🗞 New Push for Second Stimulus Checks: Analysts Predict When Another Relief Package Will Pass https://news.bitcoin.com/second-stimulus-checks-when-relief-package-will-pass/
Many Americans are in need of second stimulus checks and a new coronavirus relief package. As Congress resumes stimulus negotiations, President Trump has called for a “big and focused” stimulus bill now. Meanwhile, several analysts have predicted when lawmakers will pass the next stimulus package.
Stimulus Package Status
Stimulus negotiations have resumed after the presidential election but lawmakers still have not been able to come to an agreement. This has left Americans with little hope of receiving their second stimulus checks to help them cope with the coronavirus-led economic crisis.
After the election, House Speaker Nancy Pelosi continued to push for her $2.2 trillion revised HEROES Act while the White House has reportedly stepped back from negotiations on a new stimulus package. Prior to the election, Treasury Secretary Steven Mnuchin discussed stimulus terms with Pelosi almost daily but the two could not come to an agreement. Now, it is up to Senate Majority Leader Mitch McConnell to revive talks with Pelosi.
Referring to Pelosi and Senate Minority Leader Chuck Schumer, McConnell said: “I gather she and the Democratic leader in the Senate still are looking at something dramatically larger. That’s not a place I think we’re willing to go.” He elaborated:
But I do think there needs to be another package. Hopefully we can get past the impasse we’ve had now for four or five months and get serious about doing something that’s appropriate.
🗞 The SEC Is Still Working Out What ‘Qualified Custodian’ Means for Crypto https://www.coindesk.com/sec-qualified-custodian-statement
The U.S. Securities and Exchange Commission (SEC) is once again asking about qualified custodians and how crypto custody fits into this regulatory framework.
Last month, the Wyoming Division of Banking granted a no-action letter to Two Ocean, a wealth management firm hoping to offer custodial services for digital assets (which include virtual currencies) and call itself a qualified custodian.
In the letter, the division said it “would not pursue enforcement action against Two Ocean for holding itself out to the public as a ‘qualified custodian’ if Two Ocean operates in conformity with applicable laws and rules surrounding the safekeeping of customer assets, including both Wyoming and federal law.”
Qualified custodians
The term “qualified custodians” is a legal one, defined by the SEC as a bank, broker-dealer, futures commission merchant or other entity that maintains client funds and securities in specific ways. The federal regulator can designate an entity as a qualified custodian, while state-level regulators typically cannot.
Good sign
The SEC’s letter is encouraging, Land said. The SEC is highlighting that investment advisers must consider their fiduciary duties when acting as a qualified custodian, and in his view the federal agency is just laying out questions around this issue.
*“The SEC letter and our letter both agree we have shared power over this area, the custody area, but I don’t think that line has been drawn with the precision that the banking industry and the securities industry might like, and I think that’s one thing we’re both going to have to work together [on],”* he said.
🗞 Daily Crypto Calendar, November, 16th💰
Stellar (XLM)
"Mark your calendars: Stellar's 2nd annual Meridian conference is set for November 16 to 20, 2020 — coming to you as a virtual event..."
CCUniverse (UVU)
Last airdrop round for UVU Holders of VYB. All holders which didn't receive coins in previous rounds can participate.
Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Bolt (BOLT)
Every week our dev-team shares our progress and updates to the Community.
Blockstack (STX)
Stacks 2.0 Mainnet AMA.
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🗞 Daily Crypto News & Video November, 15th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
Today is a weekend day so no Daily Video but you can check out the news below !
🗞 Bitcoin Rally Falters as Price Drops Below $16K https://www.coindesk.com/bitcoin-rally-falters-as-price-drops-below-16k
Bitcoin’s price quickly dropped below $16,000 Saturday morning, putting the rapid rally seen in recent weeks on pause.
Around 10:00 UTC, the cryptocurrency dropped as low as $15,750, having hit highs over $16,300 in the Asian trading hours.
As reported earlier this week, analysts had been expecting bitcoin (BTC, +1.56%) to move into consolidation for a time, and possible to see a pullback.
That's because the rally from $9,800 to over $16,000 over the past two months looked overstretched on the technical charts.
They anticipated, however, that the run toward bitcoin's record high of around $20,000 would pick up the pace again, likely in December.
🗞 Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support https://www.coindesk.com/roger-ver-contentious-forks-paypal-support-bitcoin-cash
There are still a lot of uncertainties around the scheduled Bitcoin Cash fork event on Nov. 15, but one thing is for sure: The cryptocurrency’s biggest advocate, Roger Ver, executive chairman of Bitcoin.com, is not a fan of the scheduled upgrades on the network, which take place every six months.
*“If PayPal knew that this sort of contentious hard fork was likely to happen, maybe they wouldn’t have added bitcoin cash at all to their roadmap,” Ver told CoinDesk in an interview, referring to PayPal’s recent announcement to add cryptocurrencies – bitcoin cash included – to its system. “So it is really a big problem to have these contentious hard forks. I’d like to see that come to an end.”*
As of press time, PayPal hasn’t responded to CoinDesk’s request for comment on the upcoming fork event. Paxos, the company that provides crypto service for PayPal, rejected CoinDesk’s request to comment on the topic.
https://www.coindesk.com/roger-ver-contentious-forks-paypal-support-bitcoin-cash?jwsource=twi
🗞 Grayscale Buys $240m in Bitcoin In Largest Capital Raise Week Ever https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever
Grayscale, which runs the Grayscale Bitcoin Trust (GBTC), bought this week another 15,114 Bitcoin ($241 million). GBTC holds 481,711 Bitcoin, representing 62% of all Bitcoins in the ownership of publicly-traded companies.
Grayscale this week bought another 15,114 Bitcoin ($241 million), bringing the total number of Bitcoin the company owns to 506,000, or $8.1 billion. The company now manages a total of $10 billion worth of cryptocurrency.
Grayscale Bitcoin Trust (GBTC), which was created in 2013, is the company’s biggest trust. The total value of assets managed by Grayscale Bitcoin Trust (GBTC) now exceeds $8.2 billion.
GBTC holds 481,711 Bitcoin, which corresponds to 62% of the 814,359 Bitcoins in the ownership of publicly-traded companies.
🗞 BTC Options Open Interest Surges, Traders Look to an Unfilled Bitcoin Futures Gap at $18K https://news.bitcoin.com/btc-options-open-interest-surges-traders-look-to-an-unfilled-bitcoin-futures-gap-at-18k/
Bitcoin prices have been volatile during the last few weeks, but have managed to climb higher in value at the same time. This week bitcoin derivatives markets, specifically futures and options, show that crypto asset traders should expect more swings going forward. Some traders believe that the digital currency’s price could fill two unfilled gaps on CME Group’s Bitcoin Futures chart with an upward trajectory toward $18,000.
During the last few days, bitcoin (BTC) spiked over the $16k handle, as numerous cryptocurrency markets have seen some significant gains this week. On Sunday morning, November 14, 2020, BTC’s price slid under the $16k zone to a low of $15,750 during the early morning trading sessions (EST).
CME Group, Okex, and Ledgerx follow Deribit’s lead, and CME’s open interest has been growing massively. In crypto derivatives markets that tend to bitcoin futures and perpetuals, open interest has also reached an ATH this month.
🗞 Daily Crypto Calendar, November, 15th💰
Bitcoin Cash (BCH)
"Bitcoin ABC and [Amaury Séchet] have announced they are forking away from Bitcoin Cash on November 15..."
Dock (DOCK)
"Token Swap start", during early Q4 2020.
Matic Network (MATIC)
"... IP-based rate limiting will be put in place from 15 Nov 2020..."
Zeedex (ZDEX)
"We are Glad to announce that our Mainnet on BSC is coming out on 15th November."
**Last Updates**
🗞 Daily Crypto News & Video, November, 14th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-14th
🗞 Daily Crypto News & Video, November, 13th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-13th
🗞 Daily Crypto News & Video, November, 12th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-12th
🗞 Daily Crypto News & Video, November, 11th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-11th
🗞 Daily Crypto News & Video, November, 10th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-10th
🗞 Daily Crypto News & Video, November, 9th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-9th
🗞 Daily Crypto News & Video, November, 8th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-8th
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🗞 Daily Crypto News & Video November, 14th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
Today is a weekend day so no Daily Video but you can check out yesterday's and read the news below
https://www.youtube.com/embed/-3hT_oGdhYI
https://youtu.be/-3hT_oGdhYI
🗞 Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion https://www.coindesk.com/market-wrap-bitcoin-fails-16-5k-wrapped-btc-2-billion
Analysts are bullish on bitcoin’s price but the options market is decidedly bearish on the remaining weeks of 2020. Ethereum’s wrapped bitcoin token crosses $2 billion locked.
Bitcoin (BTC) trading around $16,240 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,971-$16,487
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Major exchange daily spot volumes on Friday were at $668 million as of press time, but not close to Thursday’s $1.1 billion in volume.
*“I’m seeing an increasing demand from more traditional family offices making their first investments into bitcoin as a long-term hedge or as insurance for their existing portfolio of investments,” Michael Gord, chief executive officer of Global Digital Assets, told CoinDesk. “I expect this trend to continue as bitcoin keeps maintaining its value and being uncorrelated to most other asset classes.”*
Bitcoin isn’t entirely uncorrelated from other asset classes like equities, but lately the correlation between the world’s oldest cryptocurrency and the S&P 500 has dropped a little bit.
The amount of bitcoin “locked” in the Ethereum-based wrapped bitcoin contract passed $2 billion Thursday, and is staying at that level Friday. In order to use bitcoin on Ethereum, it must be “wrapped” and used as a token on the network using a standard called ERC-20.
Brian Mosoff, chief executive officer of investment firm Ether Capital, says the parking of bitcoin on Ethereum is giving the network a huge leg up over its up-and-coming smart contract competitors, including Polkadot, Cardano and Cosmos, among others.
🗞 Crypto Startup Wants to Break Chainlink’s Grip on Oracle Market https://decrypt.co/48192/crypto-startup-wants-break-chainlink-grip-oracle-market
*API3 raised $3 million in a seed funding round led by VC firm Placeholder.
*It will use DAO-governed open-source software to provide blockchain-based applications with real-world data.
*API3 plans to lower the cost of oracle data by removing the network of middlemen used by other data providers like Chainlink.
Who needs Chainlink? Well, most blockchain-based projects that use oracles in order to get external data on their apps.
API3, a new oracle provider, hopes to cut into Chainlink’s market share. The startup announced on Thursday the closing of a $3 million seed funding round led by Placeholder. The round also drew participation from Digital Currency Group and CoinFund. The funding round shows that, despite Chainlink's dominance, the oracle problem is far from solved, and that there’s still plenty of debate over the best way to bring real-world data into decentralized applications.
API3, using existing cloud API providers, aims to cut out the middlemen and lower costs by providing aggregated data directly from first-party data sources.
API3 co-founder Heikki Vanttinen explained the benefit to Decrypt: *“This allows us to leverage the data providers’ off-chain reputation as collateral, which is only possible with the first-party oracles that we propose. This gets rid of all of the security risks of a third-party oracle node layer and makes the first-party oracle exactly as trustworthy as the API it is getting its data from.”*
🗞 $300M in Bitcoin Flow to Binance From Huobi as China Gets Tougher on Exchanges https://www.coindesk.com/china-exchanges-crackdown-binance-huobi-okex
As the Chinese government cracks down on several crypto exchanges catering to traders based in China, many of those customers – and their bitcoin – have been making their way to Binance over the past few days.
Bitcoin flows to Binance from Huobi reached an all-time high since the Huobi chief operating officer, Robin Zhu, allegedly went missing on Nov. 2. According to data provided by CryptoQuant, a total number of 18,652 bitcoin, worth nearly $300 million, was transferred from Huobi to Binance from that day until Nov. 11.
*“A lot of users went to Binance because Chinese users are more familiar with Binance and Binance’s executives are all overseas,”* Colin Wu, a Chinese crypto reporter behind the Twitter account @WuBlockchain, told CoinDesk on a WeChat message. https://steempeak.com/@wublockchain
🗞 Ripple Files Trademark for Possible New Payments Service https://www.coindesk.com/ripple-files-trademark-for-possible-new-payments-service
Ripple, the San Francisco-based blockchain payments infrastructure provider, has registered a trademark for a possible new product called “PayString.”
Filed with the U.S. Patent and Trademark Office (USPTO) late last week, the application is classified in the U.S. under the general categories "Advertising and Business" and "Insurance and Financial."
A logo for the branding takes the form of "a stylized circle design with four lines radiating from it" in multiple colors.
It's tempting to speculate as to what the new trademark will be used for, but there's not a lot of information to go by.
The filing describes use cases in "electronic financial services, namely monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for exchanging fiat currencies and virtual currencies over a computer network."
🗞 Daily Crypto Calendar, November, 14th💰
Electroneum (ETN)
"On 13 November, LockTrip will start accepting ETN, PLUS we'll have an exciting promotional offer for you!"
'We have joined forces with blockchain project @LockTripLOC to bring 2.1 million hotels, flights and accommodation to Electroneum..." https://steempeak.com/@locktriploc
Vice Network (VN)
"Trade will stop on 13.11.20. Please withdraw your VN from Crex24. Any VN remaining on Crex24 after 20 of November, 2020 will not be..."
Blockstack (STX)
Muneeb Ali, Blockstack Co-founder, will be speaking at the event.
Wabi (WABI)
"Wabi masternodes rewards distribution."
**Last Updates**
🗞 Daily Crypto News & Video, November, 13th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-13th
🗞 Daily Crypto News & Video, November, 12th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-12th
🗞 Daily Crypto News & Video, November, 11th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-11th
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🗞 Daily Crypto News & Video November, 13th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
https://youtu.be/-3hT_oGdhYI
https://www.youtube.com/embed/-3hT_oGdhYI
🗞 Market Wrap: Bitcoin Hits $16.2K; Uniswap Crosses $3B Locked https://www.coindesk.com/market-wrap-bitcoin-16-2k-uniswap-crosses-3-billion
Bitcoin was gaining amid positive institutional and retail adoption signs as the amount of crypto locked in Uniswap signals DeFi continues to be more just than a fad.
Bitcoin (BTC) trading around $16,154 as of 21:00 UTC (4 p.m. ET). Gaining 2.9% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,454-$16,186
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
“Bitcoin’s struggle to consolidate above the $16,000 price level can likely be attributed to a number of factors including profit taking and capital rotation into some of the small-cap digital assets that have been recently surging,” Hirsch said. “If bitcoin can establish a base in the low-$16,000 range, there isn’t much resistance on the path to $17,000 and beyond.”
*“Bitcoin cleared $16,000 for the first time in three years, confirming the existing bullish uptrend,” Lau said. “With minimal resistance until $20,000, it’s hard to tell how the next few weeks will trade into year end, but signs are positive.”*
Spot bitcoin volume has also been strong Thursday. It was close to $1 billion as of press time, much higher than the past month’s $378 million average daily volume.
Uniswap crosses $3 billion locked
The amount of cryptocurrency “locked” in the DEX Uniswap crossed $3 billion Wednesday. Crypto investors place assets in smart contracts such as Uniswap’s to provide liquidity and, in turn, gain profits, or yield, for doing so in the form of the fees traders pay to use the DEX’s liquidity.
🗞 How Ant’s Suspended IPO Is Related to China’s Digital Yuan https://www.coindesk.com/how-ants-suspended-ipo-is-related-to-chinas-digital-yuan
Ant Group’s suspended initial public offering (IPO) has shed further light on a possible motivation behind China’s digital yuan. The Chinese government appears to view the payments giant as a destabilizing force to China’s economy, and the digital yuan is a way to keep companies like this in check.
Industry watchers say the People’s Bank of China (PBoC) might use the digital yuan as part of a broader effort to curb the growth of Alipay and WeChat Pay. The central bank digital currency (CBDC) could stunt Alipay’s micro-lending business and provide the unbanked with financial services, while also drawing back deposits for commercial banks.
Ant’s co-lending subsidiary Huabei, which is a built-in virtual credit card in Alipay, facilitates loans between commercial banks and borrowers, while Jiabei is the short-term consumer loan provider. Though it enjoys as much as a 40% cut of loan interest, Alipay bears far less in credit risk than the banks. Only 2% of the loans Ant had facilitated as of June were on its balance sheet, according to its IPO prospectus.
*“The bank can make it more costly for digital payment platforms to use the digital yuan to lend money, and this might be something the government might want to force,”* Ratna said.
*“For the central bank, it is very important that the underlying asset becomes the digital yuan,” she said. “It can help the bank to solve many chronic problems in the financial system, including shadow banking, non-performing loans and too much informal financing.”*
Deposits leak
China’s payment giants pose other threats as well. Commercial banks in China have been losing cash deposits to non-banking payment platforms. The Chinese mobile banking market saw about $8 trillion worth of transactions in the last three months of 2019, with Alipay taking 55% of the market and WeChat Pay having 39%.
Mass adoption
Still, Alipay and WeChat Pay are standing in the way of the digital yuan’s mass adoption. During last month’s trial giveaway, some shoppers preferred to use these two mobile payment apps because they are more convenient.
🗞 PayPal's crypto trading goes live in the US https://cointelegraph.com/news/paypal-s-crypto-goes-live-in-the-us
On Thursday, PayPal's crypto trading and payments went live for all eligible customers in the United States.
Per its updated announcement, PayPal ended its waitlist for customers looking to use cryptocurrency in the U.S. Trading features a limit of $20,000 per week, which is double the originally announced $10,000.
PayPal ultimately plans to make crypto payments available at 26 million merchants globally.
A representative told Cointelegraph that PayPal will notify U.S. customers about the general availability of crypto services in the coming days.
*"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly."*
🗞 DeFi the odds: Total user numbers up 55% in just six weeks https://cointelegraph.com/news/defi-the-odds-total-user-numbers-up-55-in-just-six-weeks
While many decentralized finance (DeFi) tokens suffered heavy losses last month — prompting hastily written obituaries about the DeFi “bubble” — metrics measuring user activity saw sustained sector-wide growth.
According to crypto market data aggregator Dune Analytics, the total number of unique DeFi user-addresses is around 860,000, an increase of roughly 10 times over the past year. Note: that’s a cumulative figure and users might have more than one address.
Despite many DeFi tokens shedding significant value last month, the sector’s user-count increased by nearly 40%, from roughly 555,000 to 775,000, during October.
A further 85,000 users joined DeFi during the first 11 days of November, increasing the number of users by 11% in less than two weeks. In total that means DeFi user numbers have grown 55% from the start of October.
🗞 Daily Crypto Calendar, November, 13th💰
Electroneum (ETN)
"On 13 November, LockTrip will start accepting ETN, PLUS we'll have an exciting promotional offer for you!"
'We have joined forces with blockchain project @LockTripLOC to bring 2.1 million hotels, flights and accommodation to Electroneum..." https://steempeak.com/@locktriploc
Vice Network (VN)
"Trade will stop on 13.11.20. Please withdraw your VN from Crex24. Any VN remaining on Crex24 after 20 of November, 2020 will not be..."
Blockstack (STX)
Muneeb Ali, Blockstack Co-founder, will be speaking at the event.
Wabi (WABI)
"Wabi masternodes rewards distribution."
**Last Updates**
🗞 Daily Crypto News & Video, November, 12th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-12th
🗞 Daily Crypto News & Video, November, 11th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-11th
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🗞 Daily Crypto News & Video November, 12th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
New Daily Crypto News video coming up, until then you can still watch yesterday's 😉
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🗞 Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract https://www.coindesk.com/market-wrap-bitcoin-fails-50k-eth-smart-contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Bitcoin (BTC) trading around $15,694 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,293-$15,973
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
*“We’ve been ranging between $14,600 to $16,000 since Nov. 5. Bitcoin seems to have found a local floor at the $15,000 price,”* Andrew Tu, an executive at quant trading firm Efficient Frontier, told CoinDesk.
David Lifchitz, chief investment officer of ExoAlpha, echoed a similar assessment. “In the very short term, we may see some consolidation of the bitcoin price around $15,000, which would be healthy after the last powerful breakout, before grinding higher toward $20,000.”
Bitcoin’s correlation with the S&P 500 has been trending down this week, with Tuesday continuing Monday’s drop in the relationship of their price movements.
Ether in ETH 2.0 surpasses 50K
The amount of ether that has been staked in Ethereum’s 2.0 upgrade smart contract passed 50,000 ETH Tuesday. It’s at 50,977 ETH, according to data aggregator Glassnode, and is worth over $23 million as of press time.
The Ethereum 2.0 contract launched Nov. 3. Users must stake at least 32 ETH in the contract in order to participate in the network upgrade, which is expected to enhance its security and scalability while maintaining the transaction history and functionality of existing ether balance.
🗞 Ethereum’s ‘Unannounced Hard Fork’ Was Trying to Prevent the Very Disruption It Caused https://www.coindesk.com/ethereums-hard-fork-disruption
The bulk of Ethereum’s DeFi ecosystem went dark earlier today after a latent bug in the Ethereum code split the network’s transaction history in two.
The split resulted from a code change that was surreptitiously inserted into a previous Geth update; some Ethereum node operators ignored the update, which ironically was meant to prevent the very split that occurred.
The nodes that did not upgrade were under the impression the update was minor and did not know it included a change to Ethereum’s consensus design.
A post-mortem released today by Geth indicates that the bug was intentionally triggered. The case is perhaps Ethereum’s greatest challenge since the 2016 DAO fork, and it raises questions about Ethereum’s oft-touted decentralization and the effectiveness of its developer coordination going into Ethereum 2.0.
🗞 Binance.com Closing Another Door On Americans, Responsible For 7% Of Its Traffic https://cryptonews.com/news/binance-com-closing-another-door-on-americans-responsible-fo-8266.htm
Amid regulatory uncertainty, major crypto exchange Binance seems to have finally taken a stricter approach to the 'no-US residents on Binance.com' policy, evicting them from the platform more than a year after the US platform was launched.
In October, almost 7% of visits (n.b. - not visitors), or 2.1 million, to Binance.com were from the US, according to Similarweb data. It was the second-biggest group of visitors, only after Russia. The website was visited more than 31 million times in October in total, or 12% less than in September.
Meanwhile, now Binance has reportedly started blocking the United States-based clients from accessing Binance.com, giving them a 90-day deadline to withdraw all their funds. First reported by The Block, the exchange will reportedly no longer depend on users clicking to confirm that they are not from the US when making an account, but will instead block all US residents based on their IP addresses. Among their options, these users can move to the Binance.US platform.
🗞 Institutional money is pumping the DeFi markets back up https://cointelegraph.com/news/institutional-money-is-pumping-the-defi-markets-back-up
Institutional money appears to be flowing into the decentralized finance (DeFi) sector, with Yearn Finance (YFI) among the top beneficiaries.
According to crypto market data aggregator IntoTheBlock, on-chain transactions of $100,000 or higher have increased by 282% over the past week — including nearly $134 million worth of activity on Nov. 10 alone.
According to crypto market analysis firm Messari, YFI was the top performing DeFi asset of the past week, followed by yAxis with a 78% gain, Loopring with 50%, and Akropolis and Curve with 49% each. However, the DeFi turnaround is very recent and only 11 of 41 DeFi tokens tracked by Messari are up over the last 30 days, while 22 have posted price gains for the past 12 months.
🗞 Daily Crypto Calendar, November, 12th💰
Stratis (STRAT)
STRAX mainnet released on November 12th.
"The STRAX Token Swap window will be from NOW (15th October 2020) until 9 AM GMT on 12th November 2020."
Blockstack (STX)
Indonesian AMA for the upcoming Stacks 2.0 Mainnet launch.
Po.et (POE), Tierion (TNT)
"Binance Will Delist $POE & $TNT on 2020/11/12"
cVault.finance (CORE)
Both flash controller and executor are now up on mainnet Official launch tomorrow with the web interface""
Wabi (WABI)
"Wabi CEO sharing updates and announcements. Twitter @alex_taelpay." https://steempeak.com/@alex
**Last Updates**
🗞 Daily Crypto News & Video, November, 11th💰 https://peakd.com/hive-126009/@vlemon/daily-crypto-news-and-video-november-11th
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🗞 Daily Crypto News & Video November, 11th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjo
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🗞 Market Wrap: Bitcoin Flat at $15.3K; Crypto Locked in DeFi at All-Time High https://www.coindesk.com/market-wrap-bitcoin-flat-defi-all-time-high
Bitcoin is sideways Tuesday, with little price action. However, traders seem to be jumping into decentralized finance to maximize their crypto yield.
Bitcoin (BTC) trading around $15,345 as of 21:00 UTC (4 p.m. ET). Slipping 0.30% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,092-$15,471.
BTC close to its 10-day and 50-day moving averages, a flat or sideways signal for market technicians.
*“It is likely that the sharp bounces in BTC price yesterday and on Saturday were retail led – with the perpetual swap funding spiking for the first time since September,” quantitative trading firm QCP Capital wrote in its Tuesday investor note. “One reason for the overall strength and stickiness of the rally in the last two months has been the absence of retail over-leverage, as evidenced by the flat funding up till now.”*
With the sideways price performance Tuesday, a number of traders appear to be moving crypto into decentralized finance, or DeFi, for yield-generating opportunities. According to DeFi Pulse, 168,111 BTC, worth $2.5 billion as of press time, is generating yield in various Ethereum-based protocols.
DeFi value locked at a high
The amount of cryptocurrency “locked” or held in Ethereum-based DeFi protocols is at a record Tuesday. Over $12.8 billion is currently being held in DeFi, the highest it has ever been according to data aggregator DeFi Pulse.
*“Total value locked in DeFi is hitting all-time highs likely due to the price increase across all crypto assets and the continued positive sentiment in the space alongside more certainty in the political arena,”* Mosoff told CoinDesk.
🗞 Biden Confirms Crypto-Savvy Gary Gensler Will Lead Financial Policy Transition Team https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team
Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. President-elect Joe Biden.
A former chairman of the Commodity Futures Trading Commission (CFTC), Gensler was tapped to lead the agency review team for the Federal Reserve, banking and securities regulators, the Biden campaign formally announced Tuesday, following reports last week he was a contender.
As CFTC chairman, Gensler served as a key financial regulator for former President Barack Obama, spearheading new derivatives rules after the 2008 financial crisis. He also served in the Treasury Department during the Clinton administration.
🗞 Bitcoin fees plummet as mempool clears to zero https://cointelegraph.com/news/bitcoin-fees-plummet-as-mempool-clears-to-zero
The Bitcoin network mempool shrank to its smallest size since mid-October this week after the network’s hash power soared.
The clear mempool meant that that thousands of stuck transactions pending confirmation were included in recent blocks, leaving very few unconfirmed transactions still outstanding.
The spike in hash power has been attributed to the re-activation of China-based miners who migrated from Sichuan after the end of the province’s rainy season. Bitcoin’s hash rate increased by 42% over a two day period, Nov. 9 and 10.
A smaller mempool is good news for regular Bitcoin users as it reduces competition among fresh transactions to get included in upcoming blocks. Reduced competition in the mempool helps to drive down Bitcoin transaction fees, as miners can potentially include all transactions in the mempool irrespective of their individual fee amounts.
As of this writing, there were approximately 6,000 transactions in the mempool with a median fee of 3 satoshis per byte (sat/byte) or roughly $0.11. Some users have reported fees as low as 1 sat/byte for transactions that have confirmed within a few hours.
Bitcoin transaction fees had been comparatively low through the second half of 2020. During the last week of October, the price of BTC consolidated above the $13,000 mark for the first time since December 2017 — coinciding with a massive increase in transactions being sent to the mempool and resulting in a backlog of unconfirmed transactions.
🗞 Spanish Senate Green-lights Crypto, Blockchain & Fintech Sandbox https://cryptonews.com/news/spanish-senate-green-lights-crypto-blockchain-fintech-sandbo-8263.htm
Crypto and blockchain advocates in Spain have cause for cheer after the country’s senate unanimously voted in favor of launching a new regulatory fintech testbed that will allow companies to launch blockchain, bitcoin (BTC) and other crypto-related projects.
The Senate is Spain’s upper parliamentary house, and voted 262-0 in favor of launching the initiative, per the Spanish Association of Fintech and Insurtech (known locally as AEFI).
A proposal to amend the bill was shut down, with only 16 senators voting in favor.
The government approved the bill back in February, and it has since won approval from the lower house, the Congress of Deputies.
🗞 Daily Crypto Calendar, November, 11th💰
Veros (VRS)
The project team will present the updated "VRS GO TOP" roadmap.
Blockstack (STX)
Please join us for Freehold's public townhall November 11 at 9:00 AM PST.
Wabi (WABI)
"Wabi founders answering your questions and sharing news, announcements in Wabi Telegram group."
Cosmos (ATOM)
"To all @cosmoshub's validators, it's time to participate in the Cosmos Hub's Testnet for #Stargate! Take off scheduled for Nov 11th!" https://steempeak.com/@cosmoshub https://steempeak.com/trending/stargate
GameCredits (GAME)
"On Nov 11th at 11:15am EST during #BGADemoDay @GAMECREDITS will be showcasing something NEW!" https://steempeak.com/trending/bgademoday https://steempeak.com/@gamecredits
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🗞 Daily Crypto News & Video November, 10th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
https://youtu.be/-sSdoDoXsFs
https://www.youtube.com/embed/-sSdoDoXsFs
🗞Market Wrap: Bitcoin Drops as Low as $14.8K; ETH Options Open Interest at Record High https://www.coindesk.com/market-wrap-bitcoin-drops-eth-options-open-interest-at-record
Bitcoin is gyrating amid rallying global stock markets while ether options traders ramp up open interest as the Ethereum network heads for an ambitious upgrade.
Bitcoin (BTC) trading around $15,384 as of 21:00 UTC (4 p.m. ET). Gaining 0.05% over the previous 24 hours.
Bitcoin’s 24-hour range: $14,845-$15,842
BTC above its 10-day and 50-day moving average, a bullish signal for market technicians.
After bitcoin rallied over $200 on news that Pfizer’s vaccine trial showed it was 90% effective in preventing coronavirus infections, the price suffered a drop of almost $1,000 within hours Monday. The sell-off went from $15,842 shortly after Pfizer’s announcement early in the morning to as low as $14,845 around 16:30 UTC (8:30 a.m. ET). It has since recovered, changing hands at $15,389 as of press time, according to CoinDesk 20 data.
Liquidations on BitMEX, as tracked by data aggregator Skew, are on the decline.
*“With the S&P 500 touching a new all-time high today alongside news of a Pfizer COVID vaccine showing strong promise, it will be interesting to see how BTC behaves in the weeks ahead,” said Daniel Kohler, liquidity manager at San Francisco-based cryptocurrency exchange OKCoin. “For the past few weeks we were seeing a rise in BTC and S&P 500 correlations — with BTC trading at levels not seen since 2017, it will be interesting to see if that trend reverts or we continue to see outperformance.”*
Ether options interest at all-time high
🗞 UK drafting stablecoin regulations and researching a CBDC https://cointelegraph.com/news/uk-drafting-stablecoin-regulations-and-researching-a-cbdc
The Treasury Department of the United Kingdom has revealed it is drafting proposals to regulate private stablecoins, while also researching central bank digital currencies (CBDC) as an alternative to cash.
In an announcement published on Nov. 9, U.K. Treasury Chancellor Rishi Sunak noted the forthcoming regulatory proposals alongside other goals for the country’s financial services industry — including a review of the U.K.’s listings regime and support for green finance.
*“New technologies such as stablecoins – privately-issued digital currencies – could transform the way people store and exchange their money, making payments cheaper and faster.”*
*“We are starting a new chapter in the history of financial services and renewing the UK’s position as the world’s pre-eminent financial center [...] Our plans will ensure the UK moves forward as an open, attractive and well-regulated market.”*
🗞 SEC Looking at Which Firms Can Take Custody of Crypto https://decrypt.co/47752/sec-looking-which-firms-can-take-custody-crypto
A public statement from staff within the SEC’s Division of Investment Management indicates the agency is evaluating the term “qualified custodian” as it relates to digital assets.
SEC staff issued a public statement asking questions about the definition of "qualified custodian."
That term is traditionally applied to banks, brokerages, and futures commission merchants.
The Wyoming Division of Banking, however, applied it to Ocean Trust, a wealth management firm.
The statement, from the SEC’s Division of Investment Management, follows a no-action letter from the Wyoming Division of Banking to a state-chartered public trust company, Two Ocean Trust. In it, the division judges Two Ocean to be a “qualified custodian” and therefore eligible to “provide custodial services for digital assets under Wyoming law, including virtual currency and digital (tokenized) securities.”
This may seem like inside baseball (and it is). However, depending on where the SEC ultimately comes down, it could let traditional registered investment advisors, who may have been reticent to get involved with crypto custody, know what the score is.
🗞 'Dr Doom' Nouriel Roubini Admits Bitcoin May Be a Store of Value, Sees Big Revolution in Central Bank Digital Currencies https://news.bitcoin.com/dr-doom-nouriel-roubini-bitcoin-store-of-value/
Economist Nouriel Roubini, also known as “Dr. Doom,” has admitted that bitcoin may be a store of value. Roubini sees a “big revolution” coming in the next three years due to central banks launching their own digital currencies.
Nouriel Roubini Sees Store of Value in Bitcoin
After years of publicly mocking and ridiculing bitcoin, Nouriel Roubini has admitted that bitcoin may be a partial store of value.
Roubini teaches at New York University’s Stern School of Business and has his own economic consulting firm called Roubini Macro Associates. Famed for predicting the housing bubble crash of 2007-2008, his gloomy predictions have earned him the nickname “Dr. Doom” in the media.
Dr. Doom has been a long-standing critic of bitcoin. In a Senate hearing in October 2018, he called cryptocurrencies “the mother of all scams and bubbles.” He also said that the cryptocurrency world is a “stinking cesspool” and is fundamentally worth nothing.
🗞 Daily Crypto Calendar, November, 10th💰
Doki Doki Finance (DOKI)
"11/10 -1:00 Pm UTC time: Azuki farming begins!"
Wanchain (WAN)
"Based on a snapshot of Wanchain sometime from Nov 6-10, wanTokens will be swapdropped 1:1 for all WETH & ERC20 tokens on Wanchain"
Wabi (WABI)
"Wabi product, tech and features updates and announcements @wabitoken." https://steempeak.com/@wabitoken
Cosmos (ATOM)
"On Nov 10th at 10 pm PDT join @chjango on an AMA a/ Cosmos w/ @binance Cameroun." https://steempeak.com/@chjango https://steempeak.com/@binance
ShareToken (SHR)
"ShareRing Smart Contract Upgrade, Tuesday 10th Nov 2020!"
**Last Updates**
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🗞 Daily Crypto News & Video November, 9th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 Crypto Long & Short: Bitcoin Gets Ready for a New Type of Hedge https://www.coindesk.com/bitcoin-new-hedge
Of all of the many clever things Mark Twain is alleged to have said, one of my favorites, especially these days, is: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
In the turmoil that is 2020, many market “truths” have morphed into myths. And many trusted investment adages no longer make sense.
One that continues to puzzle me is how many financial advisers still recommend the 60/40 portfolio balance between equities and bonds. Equities will give you growth, the theory goes. And bonds will give you income as well as provide a buffer in times of equity decline. If you want to preserve capital into your old age, we’re told, this is the diversification strategy for you.
Since the crisis of 2008, that relationship has broken down. In fact, as the chart below shows, equities (represented by the S&P 500) have outperformed balanced funds (represented by the Vanguard Balanced Index) in terms of rolling annual performance over the past 20 years.
🗞 Ripple Sets Up Regional Office in Dubai As New Global HQ Plans Loom Large https://decrypt.co/47596/ripple-sets-up-regional-office-in-dubai-as-new-global-hq-plans-loom-large
Ripple continues to consider alternative locations for its global HQ after regulatory troubles in the US over its cryptocurrency, XRP.
Meanwhile, the company announced a regional HQ in Dubai.
In late October, Ripple, the San Francisco-based fintech company, announced it no longer wants to be based in San Francisco.
A regulatory quagmire around its cryptocurrency, XRP, pushed the $10 billion fintech company away from San Francisco…to London? Singapore? Somewhere in Switzerland or Japan?
Dubai International Financial Centre, where Ripple will base its MENA office, hosts fintech companies, but they’re unlikely to be Ripple’s next global HQ.
*“Our regional office will serve as a springboard to introduce our blockchain based solutions and deepen our ties with even more Financial Institutions in the region,”* said Gupta.
Though Dubai is a regional office, Ripple, separately, wants to shift its mother base out of Silicon Valley due to the US Securities and Exchange Commission’s regulation around its cryptocurrency. If XRP’s a security, as allege several lawsuits, Ripple can’t distribute it.
🗞 Another Mysterious Satoshi-Era Bitcoin Move—$30 Million Transfer https://decrypt.co/47582/another-mysterious-satoshi-era-bitcoin-move-15-5-million-transfer
Bitcoin from 2010 was just moved to another address.
The Bitcoin has shot up in value since it was last moved—and is now worth $15.5 million.
It isn’t clear why the coins were moved—but it is likely the owner would’ve been in contact with Bitcoin’s creator.
Bitcoin worth over $30 million that had previously been sitting around in idle wallets “awakened” this weekend in four transactions.
Satoshi-era Bitcoin moved for the first time Friday—when 50 coins now worth over $700,000 moved to a single address. It hadn’t previously been touched since 2010.
🗞 Privacy Coin GRIN Is Victim of 51% Attack https://www.coindesk.com/privacy-coin-grin-is-victim-of-51-attack
Privacy-centric blockchain network Grin (GRIN) is undergoing a 51% attack, an event in which a miner (or miners) acquires more than 50% of the network’s mining hash power and takes control, according to a notice at the bottom of the Grin protocol’s website.
According to 2miners.com, which is responsible for 19.1% of the current hashpower on Grin, the unknown miner(s) grabbed control of 57.4% of the network's hashpower.
While the attack is underway, the protocol is warning users to wait for extra confirmations on transactions for payment finality.
Grin, which was the first cryptocurrency to test privacy protocol MimbleWimble, drew an estimated $100 million in venture capital to mine it, was once called “Bitcoin 2.0.”
🗞 Daily Crypto Calendar, November, 9th💰
Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Blockstack (STX)
Join STX Co-Founder Muneeb Ali in this Binance AMA Series for the upcoming Stacks 2.0 Mainnet Launch.
IoTeX (IOTX)
"Crypto VIP Signal will host AMA with @iotex_io on 9th Nov." https://steempeak.com/@iotex
Aave (AAVE), Aeternity (AE)
"æTernity & @Piixpayteam are organizing #AMA session on the #HumanDeFi #hackathon on 9.11.2020! Special guests: @jelly_swap, @AaveAave..." https://steempeak.com/@piixpayteam https://steempeak.com/trending/ama https://steempeak.com/trending/humandefi https://steempeak.com/trending/hackathon https://steempeak.com/@jelly https://steempeak.com/@aaveaave
Bolt (BOLT)
Every week our dev-team shares our progress and updates to the Community.
**Last Updates**
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GREED is back, why should you care?
Hello HODLer,
Just a quick message to express my thoughts about the current state of the market. The Fear & Greed indicator is one of the simplest but most useful to understant in which market's phase we are in.
It clearly feels we are in a Bull Market Phase, with elections stress going away and more and more bullish news (for Bitcoin mostly).
We touch a 90 score yesterday and are still very high compared to the past few months as you can see below.
I expect a small consildation before going up again.
I would also like to differentiate Bitcoin and Alts, Bitcoin going up is a no brainer for me. This is less the case for Alts are many of them do not have a clear narrative or value proposition (even if they can indeed moon).
**We have an economic crisis, political crisis incoming in the US and a Health worldwide crisis so I expect the money printer to continue to print but risk-on assets to underperform and I put alts in this bucket.**
**To conclude, I am keeping my BTC Long but I am more neutrals on Alts at the moment.**
I am looking still at some tasty ones !
Cheers, and be careful
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🗞 Daily Crypto News & Video November, 8th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
🗞 Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi https://www.coindesk.com/market-wrap-bitcoin-loses-steam-eth-yanked-defi
A bitcoin rally to new 2020 highs has been slowed by lower spot volume. Meanwhile, some ether investors are moving capital out of DeFi.
Bitcoin (BTC) trading around $15,502 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours.
Bitcoin’s 24-hour range: $15,190-$15,934
BTC near its 10-day moving average but above the 50-day, a sideways signal for market technicians.
*“BTC has been bullish for the last four weeks, incredibly rallying from $10,000 to $15,000,” noted Ian Balina, chief executive officer of analysis firm Token Metrics. “This month’s rally is similar to its previous big rally back in 2017 when BTC rallied from $6,000 to almost $20,000 over November and December.”*
Futures open interest for bitcoin Thursday matched a record high from Aug. 17. “Longer-term trends remain very bullish. Bitcoin futures aggregate open interest is at an all-time high at $5.7 billion and perpetual swaps funding rates are trending up,” noted Jason Lau, chief operating officer of San Francisco-based exchange OKCoin.
Bitcoin’s dominance, a measure of the world’s oldest cryptocurrency’s market cap as a percentage of total crypto assets, is starting to dip. After a steady October and early November rise to 65.5%, it dropped on Friday.
Ether locked in DeFi drops
The trend follows a rocky past 30 days for ether locked in DeFi, as about one month ago the amount of ether into DeFi was at 8,423,000 ETH. Vishal Shah, an options trader and founder of derivatives venue Alpha5, says ether’s gyrations locked has to do with the ethereal nature of Ethereum’s DeFi products.
🗞 Crypto Impact Unclear After Joe Biden Unseats Donald Trump as Next US President https://www.coindesk.com/biden-beats-trump
Joe Biden’s picks to head key regulatory agencies could redefine cryptocurrency policy in the coming years, although it’s unclear exactly how.
The Associated Press declared on Saturday that Biden, the Democratic nominee, beat President Donald Trump, a first-term Republican in an election that was marked by division and the continued spread of the COVID-19 pandemic. While the former vice president didn’t highlight crypto issues in his campaign, some of Biden’s supporters hope he will advocate for reform on tech policies, while major companies are hoping to escape antitrust investigations.
The price of bitcoin fell as the prospect of a stable transition of power disappointed holders expecting an inconclusive election – with multiple recounts – and an economy hamstrung by a lack of stimulus would hurt the U.S. dollar, according to Noelle Acheson, director of research at CoinDesk.
🗞 Is Bitcoin an Asset a Commodity or a Currency? https://decrypt.co/47566/is-bitcoin-an-asset-a-commodity-or-a-currency
Bitcoin has been labelled a currency, a commodity and an investment.
There are proponents and detractors on both sides.
The growth in futures trading as a proportion of Bitcoin's trading volume suggests most regard it as a commodity over a currency.
Bitcoin has been called many things over the years: digital money, digital gold, a sham, an investment, an asset, the end to modern capitalism as we know it.
But with the price of the world’s largest cryptocurrency on a steady rise, it’s the perfect time to look again at where Bitcoin sits in the eyes of those trying to define it.
Bitcoin has been called many things over the years: digital money, digital gold, a sham, an investment, an asset, the end to modern capitalism as we know it.
But with the price of the world’s largest cryptocurrency on a steady rise, it’s the perfect time to look again at where Bitcoin sits in the eyes of those trying to define it.
Bitcoin as an investment?
What happens if we see Bitcoin has a HODLing tool? Something you buy and hold and hope the price goes up? Well, there appear to be two camps with this: the Bitcoin believers and Bitcoin doubters.
On the Bitcoin believers side, you have companies like MicroStrategy and Square, who have been betting big on Bitcoin as an investment.
Bitcoin as a commodity?
So if Bitcoin struggles to stay stable enough to be a currency, and its lack of regulation makes it a turn off for big investment, what about as a commodity?
Commodities, as a reminder, are a basic good that is interchangeable with other goods of the same type. Essentially, a commodity produced by one producer is basically the same as that produced by another producer. Examples of commodities in the real world are:
Grains
Gold
Beef
Oil
Natural Gas
Foreign currencies
🗞 Hash Watch: Kraken Announces BCH Fork Plans, Bitcoin ABC Reveals Two-Pronged Effort https://news.bitcoin.com/hash-watch-kraken-announces-bch-fork-plans-bitcoin-abc-reveals-two-pronged-effort/
A number of third party infrastructure providers have announced contingency plans for the upcoming Bitcoin Cash upgrade on November 15, 2020. Hitbtc has revealed the exchange’s plans to halt bitcoin cash transactions on that day, and it plans to credit all users with an additional token if a blockchain split happens. Additionally, Kraken has announced plans for the fork as well with airdrop support requirements.
**The Bitcoin Cash (BCH) network will upgrade on November 15, 2020, and the latest feature that will be added to the network is the ASERT Difficulty Adjustment Algorithm (DAA).**
Bitcoin Cash **may bifurcate due to the introduction of the infrastructure funding proposal (IFP) added to the Bitcoin ABC codebase.** Six other BCH full node clients will not adopt the IFP feature added to the software.
Meanwhile, in a surprise twist, **Bitcoin ABC announced it will also launch a software client that is IFP-free and compatible with BCHN and the rest of the full node clients.** “Businesses have the freedom to choose between the two chains,” Bitcoin ABC’s blog post notes.
A great number of Bitcoin Cash proponents on Reddit and Twitter believe ABC’s latest announcement is a ploy to stay relevant. “This seems like a last-ditch effort for relevance. As always, ABC can do whatever they want with their code. I just hope no one is duped into giving them the time of day after their recent behavior,” the Reddit user ‘AD1AD’ responded on Friday.
🗞 Daily Crypto Calendar, November, 8th💰
HyperCash (HC)
"Hcash AI Lightning Protocol mainnet hardfork | Hardfork blockheight:475200 | Hardfork estimated time:20:00:00, November 8th 2020"
QLC Chain (QLC)
"Join us on November 8 at 11AM UTC for an AMA in the Binance English Telegram group with @QLCChain Co-Founder and Chief Architect..."
'Everyone is warmly invited to join Allen on November 8 at 11AM UTC in t.me/binanceexchange channel and ask any QLC related..." https://steempeak.com/@qlcchain
PIVX (PIVX)
"Record month for Paywize in October, signing more partnership deals with giants of the gaming industry such as Soft Gamings and Kindred..."
Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Blockstack (STX)
Join STX Co-Founder Muneeb Ali in this Binance AMA Series for the upcoming Stacks 2.0 Mainnet Launch.
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🗞 Daily Crypto News & Video November, 7th💰
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🗞 Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi https://www.coindesk.com/market-wrap-bitcoin-loses-steam-eth-yanked-defi
A bitcoin rally to new 2020 highs has been slowed by lower spot volume. Meanwhile, some ether investors are moving capital out of DeFi.
Bitcoin (BTC) trading around $15,502 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours.
*Bitcoin’s 24-hour range: $15,190-$15,934
*BTC near its 10-day moving average but above the 50-day, a sideways signal for market technicians.
Bitcoin’s price rise stalled Friday after making gains over the past 24 hours, most notably going as high as $15,934, according to CoinDesk 20 data. It was trading at $15,502 as of press time.
*“BTC has been bullish for the last four weeks, incredibly rallying from $10,000 to $15,000,” noted Ian Balina, chief executive officer of analysis firm Token Metrics. “This month’s rally is similar to its previous big rally back in 2017 when BTC rallied from $6,000 to almost $20,000 over November and December.”*
A bitcoin price push higher will likely require the return of higher-than-average spot volumes. Volumes for Friday were much lower than Thursday, which at $1,569,081,137 was the highest daily average volume day since July 27. On that summer day it hit $1,579,784,44 on major USD/BTC spot exchanges. As of press time, Friday’s spot exchange volume was at $1,064,734,786.
Ether locked in DeFi drops
*“Most of the ETH locked in DeFi is to accumulate or accrue tokens that don’t have a tenable value,” Shah noted. “And as those values started to fall dramatically, the ‘APY’ [annual percentage yield] that served as the bait for participation in various pools naturally started dwindling.”*
🗞 Ethereum Enters Top 200 Biggest Assets by Market Cap https://decrypt.co/47454/ethereum-enters-top-200-biggest-assets-by-market-cap
Ethereum has just become the top 200th asset in the world, according to AssetDash.
The cryptocurrency had to overtake a company that manufactures aircraft and spacecraft to achieve this feat.
Ethereum also beat Volkswagen AG and Spotify.
Ethereum has just become one of the world’s top 200 biggest assets by market capitalization, according to figures published by AssetDash.
*“After the recent DeFi price movement, Bitcoin [is] making a move to the upside, ETH is in a strong position to continue this climb. This is just the start,”* Charles Storry, co-founder of PhutureDao, told Decrypt.
🗞 As Bitcoin Surges, Google Searches Suggest Little FOMO Among Retail Investors https://www.coindesk.com/as-bitcoin-surges-google-searches-suggest-little-fomo-among-retail-investors
Web search data suggests popular interest in bitcoin remains at normal levels, despite a sharp price rally to near $16,000.
The top cryptocurrency has chalked up a nearly 50% gain in the past four weeks to trade as high as $15,971 earlier on Friday – a level last seen during the bull market frenzy between December 2017 and January 2018.
Some observers say the rally is now being driven higher by retail greed and fear of missing out (FOMO). However, Google data suggests otherwise.
Google Trends, a barometer used to gauge general interest in trending topics, is currently returning a value of 10 for the worldwide search query "bitcoin price."
🗞 OKEx denies rumblings of founder's criminal detainment, withdrawals still closed https://cointelegraph.com/news/okex-denies-rumblings-of-founder-s-criminal-detainment-withdrawals-still-closed
After closing digital asset withdrawals in mid-October, Malta-based crypto exchange OKEx still remains tight-lipped about an unspecified on-going investigation. OKEx claims detainment chatter as simply rumors, although customers are still left without withdrawal access on the exchange, even after three weeks, hearing no palatable details around the scene.
*"Claims that a concerned party related to OKEx is under criminal detention have been refuted — we can confirm that these are rumors,"* OKEx said in a public update today.
Cointelegraph reached out to OKEx for additional details, but received no response as of the time of publication. This article will be updated accordingly should a response come in.
*"At the same time, we can assure our users that 100% of their funds can be withdrawn after withdrawals have been resumed on OKEx. Currently, our business operations are stable and running as usual."*
🗞 Daily Crypto Calendar, November, 7th💰
Blockstack (STX)
YHack is Yale's largest annual hackathon and has been running since 2013.
AMA for the upcoming Stacks 2.0 Mainnet Launch that will answer all your questions about Stacks 2.0 and how it ties STX and BTC.
NoleCoin (NOLE)
"A second snapshot will be done on a random day within a week post the cutoff date of 31st Oct 2020 and those wallets will receive..."
Amon (AMN)
Crowdfunding during, "First week of november."
Bluzelle (BLZ), Polkadot (DOT)
"Introducing our #Bluzelle-#Polkadot Week with a long series of partnership announcements with @polkadot-based projects starting from..." https://steempeak.com/trending/bluzelle- https://steempeak.com/@polkadot-based
Roobee (ROOBEE)
ROOBEE farming launches on PancakeSwap.
Pundi X (NPXS)
"October monthly report is now available! Highlights include compliance tool implementation, #XPOS merchant activations, token listing..." https://steempeak.com/trending/xpos
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🗞 Market Wrap: Bitcoin Surpasses $15.3K; Ether Up 210% in 2020 https://www.coindesk.com/market-wrap-bitcoin-surpasses-ether-up
Bitcoin is hitting fresh highs during a surge past $15,000 while investors may be overlooking the upside of ether in 2020.
Bitcoin (BTC) trading around $15,087 as of 21:00 UTC (4 p.m. ET). Gaining 7.7% over the previous 24 hours.
Bitcoin’s 24-hour range: $14,005-$15,306
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
The price of bitcoin jumped Thursday, going up to $15,306 around 15:50 UTC (10:50 a.m. ET), according to CoinDesk 20 data, taking it to its highest price point since Jan. 8, 2018, when bitcoin’s high was $15,360. It has dipped since, settling at $15,087 as of press time.
Momentum, in the form of volume, was strong Thursday on leading USD/BTC spot exchanges. It was $1,233,248,261 as of press time, the highest since Oct. 21 when volume hit $1,273,812,127.
*“The macroeconomic situation in the U.S. and elsewhere is far more uncertain, and concerns about COVID-19’s resurgence sending the economy back into a tailspin are not entirely unfounded,”* noted Guy Hirsch, U.S. managing director at multi-asset brokerage eToro. *“All in all, it feels like a perfect storm for retail [bitcoin] adoption that’s coming right at the beginning of an expected wave of institutional capital,”* he added. While most markets are up Thursday along with crypto, the U.S. Dollar Index, a measure of the greenback versus a basket of other fiat currencies, is in the red 0.88% Thursday as of press time, down 1.6% since the start of November.
Ether outperforming bitcoin
Bitcoin boosters like to talk about its 2020 price gains as a hedge against an uncertain global economy. However, ether has done even better than bitcoin so far this year, up 210% versus bitcoin’s 95% gains.
🗞 Here’s Why Bitcoin’s Price Is Suddenly Exploding https://decrypt.co/47438/heres-why-bitcoins-price-is-suddenly-exploding
Bitcoin’s price has broken $15,000—breaking highs not seen since the 2017 bull run. But what’s propelling this momentum?
Bitcoin's price continues to rise, and institutional investment is a major reason for this increase.
The world's most popular stablecoin Tether has also played a significant role.
Bitcoin is now closer to $20,000 than $10,000.
Institutional investment is one of the biggest reasons why Bitcoin’s price keeps going up. Bitcoin has added nearly $5,000 to its price in the last month and is currently around $15,455.
In August and September of this year, MicroStrategy invested a total of $425 in Bitcoin. One month later, Square followed suit, investing $50 million in the famed cryptocurrency. Also in October, PayPal announced features that allowed users to trade in Bitcoin, as well as Ethereum, Litecoin and Bitcoin Cash. All of these high profile moves have worked wonders for Bitcoin’s explosive growth.
Square are not the only company producing impressive figures for Bitcoin. Grayscale Invesments, which looks after Bitcoin on behalf of investors, has picked up over 40,000 Bitcoin in the last month alone. This amounts to over $600 million worth of Bitcoin.
🗞 Tether market cap surpasses $17 billion, fueling Bitcoin price rally https://cointelegraph.com/news/tether-market-cap-surpasses-17b-fueling-bitcoin-price-rally
According to Tether’s official transparency data, the USDT market cap crossed a $17 billion mark for the first time, hitting over $17 billion in total assets.
Tether’s market cap has been growing exponentially in 2020. As of mid-September, Tether’s market cap had seen nearly a four-fold increase since the beginning of the year, surging above $15 billion from around $4 billion.
According to data from crypto analytics firm Messari, USDT saw a notable increase from August 2020 to date. As such, USDT added more than $5 billion in market cap over the past three months.
Tether (USDT), the largest stablecoin in the cryptocurrency market, is seeing a massive influx in its market capitalization, which is likely fueling the current Bitcoin (BTC) price rally.
🗞 Vitalik Buterin Sends $1.4M of Ether in Preparation for Ethereum 2.0 Staking https://www.coindesk.com/vitalik-buterin-sends-1-4m-of-ether-in-preparation-for-ethereum-2-0-staking
Ethereum founder Vitalik Buterin has sent his first ether for staking on the next iteration of the blockchain network.
Buterin's "VB2" address sent 100 transactions for 32 ether each, all in totaling 3,200 units of the cryptocurrency, as reported by TrustedNodes. The amount is worth around $1.4 million at press time.
The transactions (visible here) were sent to Ethereum 2.0's newly launched deposit contract, which went live Wednesday as a means for network participants to move funds from the current proof-of-work blockchain to the soon-to-launch proof-of-stake (PoS) blockchain.
Since then, public Ethereum participants have been able to deposit the minimum 32 ether required to stake on Eth 2.0.
🗞 Daily Crypto Calendar, November, 6th💰
General Event (CRYPTO), Lisk (LSK)
Lisk.js 2020 from Nov 6 - 7.
KardiaChain (KAI)
"On 6th Nov 2020, all locked KAI will be released together with the prize distribution."
Blockstack (STX)
Join STX Co-Founder Muneeb Ali in this Binance AMA Series for the upcoming Stacks 2.0 Mainnet Launch.
Bitcoin (BTC), Cardano (ADA), Ergo (ERG)
"Blockchain enthusiasts in Hong Kong: There's a free in-person #CardanoCommunity meetup this Thursday (on #Cardano #Ergo & #Bitcoin)." https://steempeak.com/trending/cardanocommunity https://steempeak.com/trending/ergo https://steempeak.com/trending/bitcoin
Wabi (WABI)
"Masternode rewards distribution (every Friday)"
JSB Foundation (JSB)
"Dear users, we are glad to announce that JSB token will be available on Coinsbit on 06.11.2020! Pair: JSB/USDT"
**Last Updates**
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🗞 Daily Crypto News & Video November, 5th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 Market Wrap: Bitcoin Jumps to $14.2K; Ethereum Gas Usage Grows 113% YTD https://www.coindesk.com/market-wrap-bitcoin-jumps-ethereum-gas-usage-grows
Bitcoin is making gains during the U.S. presidential election uncertainty while Ethereum’s gas data is highlighting a DeFi decline.
Bitcoin (BTC) trading around $14,061 as of 21:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours.
Bitcoin’s 24-hour range: $13,545-$14,232
BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
*“Bitcoin has recovered from its post-election drop, crossing the $14,000 level once more,” said John Kramer, a trader at crypto market making firm GSR. “The asset has done a good job of going its own way all year, vastly outperforming stocks.”*
Bitcoin is up 90% versus the S&P 500’s comparatively paltry 4.5% performance in 2020.
Cryptocurrency analysts are also keeping an eye on the U.S. Dollar Index, a measure of the greenback’s strength against a basket of other currencies, which is up 0.15% as of press time. “The dollar downtrend is due to resume,” said Bill Noble, Chief Technical Analyst at Token Metrics.
*“Too many people believe the election can stop the crypto uptrend,” Token Metrics’ Noble said. “A strong desire for economic freedom and the emergence of inflation drives the uptrend in crypto. Those trends are in motion, and they will remain in motion regardless of who occupies the White House.”*
Ethereum gas up, fees down
Usage on Ethereum, in terms of total gas, has grown 113% in 2020 so far, from 37,252,588,523 on Jan. 1 to 79,617,868,730 on Tuesday.
🗞 Actually, FTX's Prediction Market Mirrors FiveThirtyEight's Model https://decrypt.co/47270/actually-ftxs-prediction-market-mirrors-fivethirtyeights-model
They've taken different routes to get there, but with six states not yet called, both give Trump about a 12% chance of winning re-election.
People are arguing over the accuracy of prediction markets versus election forecast models.
Crypto markets have been volatile during the election, switching between Trump and Biden.
The early Florida win for Trump shook bettors' confidence in a Biden victory.
There has been plenty of abuse hurled at Nate Silver and the FiveThirtyEight election forecast model he helped create. But at the moment, it gives similar odds for the 2020 presidential election as cryptocurrency-based prediction markets.
When adjusted for states that have already been called by NBC News, FiveThirtyEight's model currently sits somewhere in the middle: It gives Trump a 12% chance of winning, just two percentage points higher than its final pre-election projection of 10%.
Many cryptocurrency lovers are interested in prediction markets because they're an example of free markets at work. On the one hand, they rely on bettors with disposable income. On the other, bettors have an inbuilt incentive to get it right.
🗞 $5M staked in eight hours as community cautiously backs ETH 2.0 https://cointelegraph.com/news/5m-staked-in-eight-hours-as-community-cautiously-backs-eth-2-0
The long awaited deposit contract for Ethereum 2.0 has finally been deployed opening the doors to staking opportunities for ETH holders.
Deposits began in earnest with over $1 million in ETH landing in the contract within the first half an hour according to observers like The Crypto Cactus.
*“$1,000,000 locked in $ETH 2.0 in 30 minutes … Just remember for anyone staking, one way bridge.I have sent across 32 ETH.”*
At the time of writing, around eight hours after the official announcement, just over 14,000 ETH has been staked according to the ETH 2 Launchpad. At today’s prices, that equates to roughly $5.5 million. In order for the Beacon Chain mainnet genesis event to be initiated, 524,288 ETH from 16,384 validators is required.
🗞 Nearly $1B in Bitcoin Moves From Wallet Linked to Silk Road https://www.coindesk.com/nearly-1b-in-bitcoin-moves-from-wallet-linked-to-silk-road
A wallet possibly belonging to early dark net market Silk Road moved almost $1 billion worth of bitcoin early on Wednesday, according to blockchain intelligence firm Elliptic.
Bitcoin address "1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx" transferred 69,369 BTC to an unknown wallet. The transaction was also noted by Twitter bot @Whale_alert 11 hours ago. https://steempeak.com/@whale
*"These funds likely originated from the Silk Road,"* Tom Robinson, co-founder of Elliptic noted in a LinkedIn post, adding the coins may have been moved by imprisoned Silk Road operator Ross Ulbricht or a Silk Road vendor.
This is the first transaction from the address since 2015 when it transferred 101 BTC to BTC-e – a now-shuttered cryptocurrency exchange allegedly favored by money launderers, per the post.
*Ulbricht – who operated under the pseudonym Dread Pirate Roberts – operated the dark net market website Silk Road from 2011 until his arrest in 2013 and is currently serving a life sentence.
🗞 Daily Crypto Calendar, November, 5th💰
Pirl (PIRL)
"$PIRL will be delisted on the 5th of November. Markets will close on the 29th of October."
Bolt (BOLT)
Our bi-monthly newsletter! Are you interested about our latest progress developments? Make sure to read.
Tael (WABI)
"CEO updates and announcements (every Thursday)." Twitter: @alex_taelpay. https://steempeak.com/@alex
Bitcoin (BTC), Cardano (ADA), Ergo (ERG)
"Blockchain enthusiasts in Hong Kong: There's a free in-person #CardanoCommunity meetup this Thursday (on #Cardano #Ergo & #Bitcoin)." https://steempeak.com/trending/cardanocommunity https://steempeak.com/trending/ergo https://steempeak.com/trending/bitcoin
EasyFi (EASY)
AMA with EASY Founder-CEO in Binance English Telegram group at 12:00 PM (UTC).
**Last Updates**
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🗞 Daily Crypto News & Video November, 4th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
Enjoy!
🗞 Bitcoin Drops as Trump Threatens to Stop Vote Counting https://www.coindesk.com/bitcoin-drops-as-trump-threatens-to-stop-vote-counting
Bitcoin fell Wednesday alongside traditional markets after President Trump alleged “fraud” in the presidential election and pledged to stop vote counting.
Bitcoin (BTC, +1.18%) was trading at $13,580 at time of writing, representing a 3.3% decline on the day. The fall reversed a rally to $14,000 seen late on Tuesday, according to CoinDesk's Bitcoin Price Index.
The cryptocurrency had begun losing ground during the early Asian trading hours after media reports projected a victory for President Trump in key states such as Florida, dashing hopes for a Democratic sweep and a bigger fiscal stimulus package under Biden's leadership.
The sell-off accelerated in the last hour, with bitcoin extending losses from $13,730 to $13,530, as Trump's threat to stop vote counting ramped up political uncertainty and sent a tremor through traditional markets.
🗞 Bitcoin sees record 100 days above $10K as one analyst eyes ‘parabolic’ 2021 https://cointelegraph.com/news/bitcoin-sees-record-100-days-above-10k-as-analyst-eyes-parabolic-2021
Bitcoin (BTC) has officially beaten a new record as BTC/USD trades above $10,000 for 100 days, and major gains should come next.
As voting in the United States’ presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own — 100 days straight trading in five figures.
Bitcoin sees record stretch above $10,000
The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC/USD swiftly increases by an order of magnitude.
Strategist eyes “parabolic” 2021
On the topic of history repeating itself, Bitcoin could go “parabolic” next year if it follows its behavior after previous halvings, a well-known analyst has forecast.
🗞 AP News publishes US presidential election results on blockchain https://cointelegraph.com/news/ap-news-publishes-us-presidential-election-results-on-the-blockchain
Using blockchain-based technologies provides a secure and unhackable record of the state-by-state results as they come in.
The Associated Press news agency has been publishing incoming results from the Nov. 3 United States presidential election onto the Ethereum and EOS blockchains.
As noted on the developer webpage detailing how to access its AP Elections API, results are being immutably written to blockchain by Everipedia’s OraQle software.
While the results are naturally also being published on the AP website, using the blockchain-based Everipedia provides an unhackable and permanent record of the calls for each state as they come in.
🗞 The 2020 Elections Are Boosting Crypto Prediction Markets https://www.coindesk.com/2020-elections-prediction-markets-boost
In just over three weeks, the trading volume on decentralized betting platform Polymarket went from zero to almost $3 million.
As of Monday, Polymarket’s “Will Trump win the 2020 U.S. presidential election?” had over $2.8 million worth of bets placed, with each bet (for possible answers “yes” or “no”) costing less than a dollar. The platform allows users to place crypto bets on highly-debated current events and public topics including politics, pop culture, business and health, according to its website.
Polymarket is a non-custodial platform, meaning it does not hold or store user-funds, and bets can be placed in the dollar-backed stablecoin USDC.
My Video: How to bet easily on US Elections using Crypto ! 5 minutes tutorial https://peakd.com/hive-167922/@vlemon/how-to-bet-easily-on-us-elections-using-crypto-5-minutes-tutorial
https://www.youtube.com/embed/x8ZiHAIQFh4
https://youtu.be/x8ZiHAIQFh4
🗞 Ethereum 2.0 Launch Gets Closer With Minor Code Release https://decrypt.co/47156/ethereum-2-0-launch-gets-closer-with-minor-code-release
Ethereum is inching ever closer to its long-awaited 2.0 upgrade. Last night, during one of the most divisive US elections in history, the tool to create Ethereum 2.0's deposit contract silently dropped on GitHub.
While the entirety of crypto Twitter remains enthralled by the Election results, a few spotted the announcement.
*"Quietly releasing* *#ETH* *2.0 deposit contract on* *#ElectionNight**... sneaky, veryyyyy sneaky!,"* tweeted Adam Barlamm, founder of blockchain gaming firm, Chain Games. https://steempeak.com/trending/eth https://steempeak.com/trending/electionnight
What does the code do?
The tool represents a step toward Phase 0 of the long-awaited upgrade.
The inaugural stage of a staggered 6-phase rollout, Phase 0 introduces a proof-of-stake consensus mechanism—an efficient means of validating transactions on the Ethereum network. In order to get users staking and the proof-of-stake chain in working order, funds must be migrated from Ethereum's current blockchain over to Ethereum 2.0. And that's where the tool comes in handy.
🗞 Daily Crypto Calendar, November, 4th💰
Blockstack (STX)
"An AMA series for the upcoming Stacks 2.0 Mainnet Launch and how you can earn BTC when stacking STX."
Tael (WABI)
"Founder office hours - sharing announcements, updates and answering your questions in Wabi telegram group (every Wednesday)"
Enjin Coin (ENJ)
"We'll be showcasing the Multiverse in action!"
InMax (INX)
"As of 4 November 2020 at 12.00 WIB (GMT + 7) all Inmax (INX) trading activities will be closed..."
Lumos (LMS)
"Our first ama will be with Indonesian group November 4th 12:00 utc @cryptowindonesia" https://steempeak.com/@cryptowindonesia
**Last Updates**
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How to bet easily on US Elections using Crypto ! 5 minutes tutorial
This is it ! This is the big day !
US Elections are on their way and I am going to explain how you can easily bet on it using Cryptocurrencies (ETH and DAI mostly) using less than 2$ in ETH fees !
https://www.youtube.com/watch?v=x8ZiHAIQFh4
https://www.youtube.com/embed/x8ZiHAIQFh4
App I used to bet on the US 2020 Presidential Election: https://catnip.exchange/
Written Walk-through guide for Catnip Betting AMM: https://catnip.substack.com/p/your-first-trade-on-catnip-prediction
Leading app on predictions markets: https://www.augur.net/
You can also bet on HIVE if you do not want to pay fees and support our blockchain !
Indeed, I also used the Hive-Engine betting game and bought some shares just for fun. I might add to my position in the future
Thank you @nealmcspadden for this cool betting event ! https://steempeak.com/@nealmcspadden
You can find more information about the Biden-Trump game on H-E clicking here https://peakd.com/trumpbiden/@nealmcspadden/the-trump-bideo-2020-game
I am going now to sit and watch America go crazy over this event during the next 24-48 hours !
Cheers, stay safe and NO VIOLENCE.
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🗞 Daily Crypto News & Video November, 3rd💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 Market Wrap: Bitcoin Bounces From $13.2K; Ether on Centralized Exchanges at 2-Year Low https://www.coindesk.com/market-wrap-bitcoin-bounces-ether-lower
Bitcoin opened the week recovering from a dip while ether balances on centralized exchanges fell.
Bitcoin (BTC) trading around $13,673 as of 21:00 UTC (4 p.m. ET). Slipping 1.2% over the previous 24 hours.
Bitcoin’s 24-hour range: $13,221-$13,877
BTC above its 10-day but below the 50-day moving average, a sideways signal for market technicians.
*“It’s interesting to see that today, as the S&P and gold price rose, BTC dropped in today’s market open,” said Andrew Tu of Efficient Frontier, a crypto quant trading firm. “In recent weeks, we have been seeing BTC price diverge from the equities market.”*
Bitcoin’s 90-day correlation, where zero means no mutual relationship, has been dropping since Oct. 18.
Bitcoin volumes for Monday on major spot exchanges totaled $490 million as of press time, much higher than the past month’s average of $257 million and closing in on this past Monday’s $502 million total.
Ether on exchanges drops
The amount of ether in reserve, or held by major centralized exchange addresses, a metric calculated by data aggregator CryptoQuant, has dropped to 11,628,046 ETH, a low not seen since Aug. 14, 2018.
One factor for the decline, according to Denis Vinokourov, head of research at digital asset prime broker Bequant, is the rise of decentralized exchanges, or DEXs, and the proliferation of liquid cryptocurrency pairs on those venues.
🗞 Bitcoin slides 3% as Hong Kong seeks to end 'honeymoon' with crypto exchanges https://cointelegraph.com/news/bitcoin-slides-3-as-hong-kong-seeks-to-end-honeymoon-with-crypto-exchanges
The price of Bitcoin fell by 3% so far this week amid growing regulatory pressure on cryptocurrency exchanges in China and Hong Kong.
The price of Bitcoin (BTC) has declined by more than 3% in the past two days. The pullback of the dominant cryptocurrency comes amid growing regulatory pressure in China and Hong Kong.
Timeline of exchange FUD in the past month
On Oct. 16, top Bitcoin futures exchange OKEx suspended withdrawals after one of the exchange’s private key holders was reportedly arrested.
Merely 17 days later, speculation that Huobi, a Singapore-based exchange with an office in Hong Kong, might face regulatory pressure emerged after data showed massive Bitcoin and Tether withdrawals on Nov. 2.
It comes a year after the Hong Kong government released rules for cryptocurrency exchanges. Ashley Alder, chief executive of the SFC said on Nov. 3:
*“This is a significant limitation, as under the current legislative framework if a platform operator is really determined to operate completely off the regulatory radar it can do so simply by ensuring that its traded crypto assets are not within the legal definition of a security.”*
*"We can declare Bitcoin's honeymoon phase to be over"*
🗞 Crypto Markets Split Over Trump’s US Election Chances https://decrypt.co/47021/crypto-markets-split-over-trumps-us-election-chances
Traders are split over who will win the US election, while crypto saw a rough day with $15 billion wiped from global market cap.
Crypto saw significant losses over night with Ethereum losing 5%
Betting markets like Augur and Polymarket are up as bettors attempt to predict the US election.
Stock markets are quietly optimistic about a Biden win and Democrat clean sweep.
Crypto is not happy. The last 24 hours saw a brutal red sweep across the global markets as nearly all projects suffered sustained losses.
Chief among them is Augur, the prediction market. It’s token the REP has been creeping up in value as people use the platform to place their bets on the outcome of the US Election.
While mainstream polling has Biden taking the White House - the Economist says Trump has just a 4% chance of getting back in - the picture is far more mixed in crypto.
On the Ethereum-based prediction platform Polymarket, it’ll cost you $0.38 to bet on him (equating to a 38% probability) versus $0.62 for Joe Biden. So far $3 million has been bet on Polymarket.
But some analysts are suggesting the outcome of the US election will not be decided as quickly as has been the case in previous years.
With a surge of mail-in votes cast this year-nearly 100 million Americans have already cast their votes via post-many states including battlegrounds such as Pennsylvania will be given three extra days after the election to count all the votes.
🗞 PayPal Raises Crypto Buying Limit to $15K/Week for ‘Eager’ Customers https://www.coindesk.com/paypal-ceo-discusses-expansive-digital-wallet-plans-on-q3-earnings-call
PayPal’s cryptocurrency service is going to expand rapidly in 2021, executives said on the payments giant’s third-quarter earnings call Monday evening.
That includes crypto services coming to Venmo and international customers in the first half of 2021, PayPal CEO Dan Schulman said.
Currently, only 10% of customers in the U.S. have access to the new crypto service with the rest of the U.S. gaining access to the tools in the next two to three weeks, Schulman said. PayPal saw enough interest following its Oct. 21 announcement that the firm has increased weekly crypto purchase limits from $10,000 to $15,000.
Schulman went on to predict there would be greater opportunities for PayPal in an economy that embraces digital identity and fully digital payments and financial services.
🗞 Daily Crypto Calendar, November, 3rd💰
Blockstack (STX)
"An AMA series for the upcoming Stacks 2.0 Mainnet Launch and how you can earn BTC when stacking STX."
IoTeX (IOTX)
"It's official -- Burn-Drop starts on November 3!"
Tael (WABI)
"Product&tech&features update (every Tuesday)"
Kava (KAVA)
"Please update your validator immediately, patch will take effect 10:00UTC Nov 3rd."
DeFi Gold (DFGL)
"Trading opens at: 2020-11-03 09:00 AM UTC"
**Last Updates**
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🗞 Top 5 cryptocurrencies to watch this week: BTC, BNB, ADA, BCH, LINK https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-bnb-ada-bch-link
Bitcoin (BTC) has rallied about 90% year-to-date and has risen close to 191% from its March lows. The rise has been gradual without much fanfare, which suggests that crypto believers are the ones who have been buying in 2020.
October’s monthly close at $13,798.99 is the highest ever, surpassing the December 2017 close at $13,789.68. The strong performance of Bitcoin may now attract the momentum players and the speculators who look to benefit from the strength.
If that happens, then Bitcoin could pick up momentum and surprise investors to the upside. This could result in traders selling their altcoins to invest in Bitcoin. Hence, the altseason looks to be over in the short-term.
BTC/USD
BNB/USD
Binance Coin (BNB) broke below the $28.50 support on Oct. 30 but managed to bounce from the intraday lows and close above $28.50. However, the doji candlestick pattern on Oct. 31 suggested indecision among the bulls and the bears.
🗞 Crypto Locked in DeFi Declines For First Month Since Bull Run https://decrypt.co/46860/crypto-locked-in-defi-declines-for-first-month-since-bull-run
The amount of crypto locked in decentralized finance protocols ended the month in the red.
That's the first time this has happened since the DeFi craze began this summer.
While DeFi stagnates, Bitcoin's growing.
October’s done, two more months left of 2020 to go. Looking back at the past month, many close to reflect on Bitcoin’s success; the coin ended this month at one of its highest price-points ever. A technicality, sure, but a victory nonetheless.
Forgotten in the Bitcoin-mania was decentralized finance, also known as DeFi, the once-new and bustling industry of non-custodial financial products, such as exchanges and lending protocols.
But the growth has slowed: the amount of cryptocurrency locked in decentralized finance smart contracts at the end of October was less than when the month started. That’s the first time this happened since this summer’s DeFi craze began.
🗞 Bitcoin Remains In Uptrend, Altcoins Show Positive Signs https://cryptonews.com/news/bitcoin-remains-in-uptrend-altcoins-show-positive-signs-8170.htm
Bitcoin price remained in a bullish zone above USD 13,500 and USD 13,650.
Ethereum recovered above USD 395 and tested USD 400, XRP is struggling to clear the USD 0.242 resistance.
OCEAN and AAVE are up over 10%.
After a short-term downside correction, bitcoin price regained strength above the USD 13,500 resistance. BTC is currently (05:00 UTC) trading well above USD 13,650 and it might continue higher above USD 13,800 and USD 13,850. The main hurdle for more upsides is near the USD 14,000 level.
Similarly, there was a recovery wave in most major altcoins, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD is recovering higher and it could even settle above the USD 400 resistance. XRP/USD is trading above USD 0.240, but it is struggling to gain momentum above USD 0.242.
🗞 Uniswap Proposal to Airdrop More UNI Falls Short in Governance Vote https://www.coindesk.com/uniswap-proposal-to-airdrop-more-uni-falls-short-in-governance-vote
The votes were staggeringly in favor, but a quorum was not reached, and Uniswap’s second-ever governance proposal has been defeated.
The proposal, submitted by decentralized finance (DeFi) portal Dharma, was to distribute 400 UNI tokens each to 12,619 addresses that interacted with Uniswap through third-party apps. In a surprise airdrop on Sept. 17, over 250,000 addresses that had directly used the token-swap platform were able to claim 400 free UNI, valued at well over $1,000 at the time.
If this and a follow-on proposal involving decentralized exchange (DEX) aggregators were to have passed, $40 million in additional UNI would’ve been dished out. However, the threshold for a quorum on the current proposal – 40 million voted UNI tokens – fell short by less than 2.5 million.
The vote rallied protocol politicians on both sides of the aisle in recent weeks, with some arguing that further distributions were only fair and others fearful they would depress UNI’s price.
🗞 Daily Crypto Calendar, November, 2nd💰
Flama (FMA)
On the 2nd of November, our project advisor Alejando Regojo (Bitcoin Gold Ceo) will appear on @Binance Youtube channel to talk about FLAMA. https://steempeak.com/@binance
Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
MCO (MCO)
"Action is required before 2 Nov 2020 at 23:59 UTC, or you will lose the functionality currently associated with your MCO."
Blockstack (STX)
HackDuke encourages students to venture beyond the classroom. Learn how your skills can be used to make a difference in other people's lives...
"An AMA series for the upcoming Stacks 2.0 Mainnet Launch and how you can earn BTC when stacking STX."
Rupee (RUP)
Phase 6 RUP to RUPEE swap ends.
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🗞 Daily Crypto News & Video November, 1st💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 $14K: Bitcoin Briefly Hits Highest Level Since January 2018 https://www.coindesk.com/14k-bitcoin-hits-highest-level-since-january-2018
Bitcoin has soared to a 33-month high above $14,000, showing resilience amid growing instability in the traditional markets.
The top cryptocurrency by market value reached $14,047 around 10:05 UTC on Saturday – the highest level since January 2018, according to CoinDesk's Bitcoin Price Index.
Earlier this week, bitcoin (BTC, -0.05%) narrowly missed breaching the June 2019 high of $13,880 and faced selling pressure as global stock markets registered sharp losses as concerns over the resurgent coronavirus spiked.
However, the downside was restricted to above $13,000 even as classic haven assets like gold fell to one-month lows near $1,860 amid the dollar strength.
🗞 The Next Chapter in Yield Farming: Ethereum 2.0 and Sustainability https://cryptonews.com/exclusives/the-next-chapter-in-yield-farming-ethereum-2-0-and-sustainab-8168.htm
Yield farming has evolved as a mainstream DeFi (decentralized finance) practice, involving investors, or liquidity providers, putting cryptoassets to work across the many DeFi applications. Yield farmers leverage smart contracts and protocols to get maximum returns on their capital (tokens); they move their assets around using different strategies that involve offering liquidity and lending. While yield farming is a simple supply and demand loop, farmers face some considerable risks such as smart contract bugs, sudden liquidation, or token devaluation.
Just like the initial coin offering (ICO) boom of 2017 that attracted widespread media attention and increased adoption of blockchain technology, there is no doubt that DeFi has become the top crypto trend in this pandemic year. This is reflected in the total value locked up in DeFi contracts surging from just USD 1bn in February 2020, to USD 10bn by September 2020, with most of the growth recorded this year.
How sustainable is the rise in yield farming?
June 2020 marked the rebirth of yield farming and its mainstream introduction when Compound started distributing their new token, COMP. Liquidity mining soon helped propel COMP to become the leading DeFi token in just a few weeks. Compound allowed users to earn COMP simply by borrowing and lending the governance token. Some farmers took out leveraged loans to borrow the tokens with the highest COMP yield, producing very high returns. This liquidity mining pattern soon became replicated on other DeFi projects and quickly became standard DeFi industry practice.
Scaling and regulation are the next steps for DeFi’s long term sustainability
These innovations have the potential to transform the face of finance and spur forward the mainstream adoption of cryptocurrencies and other similar assets.
🗞 As Bitcoin Reaches Jan 2018 Prices, So Do Transaction Fees https://decrypt.co/46839/as-bitcoin-reaches-jan-2018-prices-so-do-transaction-fees
Bitcoin transaction fees have risen alongside Bitcoin's price.
Fees increase when there's more activity on the network.
Transaction fees haven't been this high since January 2018.
Bitcoin’s price today hit prices unseen since January 2018. Hooray for Bitcoin investors worldwide. But now the bad news: Bitcoin transaction fees have also increased to the highest price since January 2018, according to data from BitInfoCharts.com.
The average cost of a Bitcoin transaction is now $13. Thirteen dollars! Back on October 17, the average cost of a Bitcoin transaction was a semi-reasonable $1.5. That means that the average cost of a Bitcoin transaction has increased by about nine times in under two weeks.
🗞 Filecoin Creator: Decentralized Storage Will Power Web 3.0 https://decrypt.co/46826/filecoin-creator-decentralized-storage-will-power-web-3-0
Juan Benet tells Forkast that Filecoin will support Web 3.0 applications, such as social media sites.
Filecoin got off to a rocky start, but Benet said lots of the rumors were untrue.
Should demand increase Benet says that Filecoin's mining pools, largely based in China, will eventually expand abroad.
After some initial turbulence, decentralized cloud storage network Filecoin’s recent mainnet launch is now opening up a range of applications that previously only existed in centralized Web 2.0 environments.
Filecoin lets you rent out space on other people’s hard-drives for cryptocurrency. Think of it as a decentralized Dropbox. This storage can also be used to host decentralized websites.
🗞 Daily Crypto Calendar, November, 1st💰
Auxilium (AUX)
Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supporting charity.
EthereumX (ETX)
"The next airdrop for ETX holders will be recorded on November 1st 2020."
OceanEX Token (OCE)
"OceanEx is going to change its USD deposits' receiving bank in the USD Gateway channel."
TCASH (TCASH)
"EtherFlyer will start the Start-Up Token plan from 1 to 30 Nov, the token teams meet start-up conditions will be provided the 1eth as..."
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🗞 Daily Crypto News & Video October, 30th 💰
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🗞 Bitcoin suddenly slides 4% as BofA predicts a 20% stock market crash https://cointelegraph.com/news/bitcoin-suddenly-slides-4-as-bofa-predicts-a-20-stock-market-crash
The price of Bitcoin abruptly dropped 4% from the day’s peak as the uncertainty in the stock market intensified.
The price of Bitcoin (BTC) abruptly dropped 4% from the day’s peak on Oct. 30 as the uncertainty in the stock market intensified. With five days left to the U.S. presidential election, Bank of America, or BofA, suggested a 20% drop is possible.
The Dow Jones Industrial Average declined 7.55% since Oct. 12. Tech-heavy stock indices performed slightly better in the same three weeks as the Nasdaq dropped 5.8%.
While the correlation between Bitcoin and stocks has declined in recent weeks, the slump of risk-on assets could negatively affect cryptocurrencies.
Would a “risk-off” drive hurt Bitcoin in the short term?
*“Landslide victory for either Trump or Biden and rapid election conclusion would likely be welcomed by markets while a severely contested election could see risk-off and drive 10-year rates materially lower.”*
For Bitcoin, it is still difficult to gauge whether a potential prolonged equities dump would cause a pullback.
Since Oct. 12, while U.S. stock market indices declined by 5% to 6%, Bitcoin rallied by nearly 16%. In the last 18 days, BTC rose from $11,167 to $13,290, massively outperforming gold, stocks and the U.S. dollar.
Maximum pain for altcoins
Throughout October, alternative cryptocurrencies have found themselves in an awkward position alongside rising BTC dominance. When Bitcoin increases so fast in a short period, it could hinder the altcoin market’s recovery because it creates a volume vacuum.
*“As would be expected with $BTC’s increased* *#crypto* *market dominance, sentiment has grown more positive and dwarfed other large cap assets. Weighted social sentiment measures the positive/negative ratio of comments about assets, while also including volume.”* https://steempeak.com/trending/crypto
🗞 Uniswap moves closer to a new five million UNI airdrop https://cointelegraph.com/news/uniswap-moves-closer-to-a-new-five-million-uni-airdrop
The second-ever governance proposal for the Uniswap decentralized exchange (DEX) is more than halfway to reaching a quorum with a little over 30 hours to go.
If passed, the proposal will see 12,619 wallet addresses that interacted with Uniswap via a proxy contract receive 400 UNI tokens each. 5.05 million UNI in total will be allocated to the users of MyEtherWallet, Argent, Dharma, DeFi Saver, Nuo, Eidoo, Opyn, Furucombo, Monolith, and Rebalance.
The proposal was put forward by Compound-based lending and savings protocol Dharma, who claimed its users felt “left out” by the initial distribution.
The cohort of proxies were chosen due to them being “less programmatically accessible,” suggesting “a lower likelihood of multiple addresses per end-user.”
*“The Phase determination was made based on how easy it is to programmatically hook a trading bot into them, as this is a proxy for what portion of these cohorts risk representing multiple addresses per end-user.”*
🗞 Bitcoin Miners in Iran Have a New Buyer: the Central Bank https://decrypt.co/46678/bitcoin-miners-in-iran-have-a-new-buyer-the-central-bank
Iran, hit hard by sanctions but brimming with oil and natural gas to supply electricity, turns to cryptocurrency to pay for imports.
Iran's foreign exchange reserves are dwindling, but its oil and gas reserves give it cheap electricity.
The country legalized cryptocurrency mining last year but prohibited trading.
New regulations ask miners to sell their crypto to the central bank.
According to a report from the state-run Iranian Students’ News Agency (ISNA), Iran has established new regulations to funnel Bitcoin mined by Iranians into state coffers so it can use them to pay for imports.
The edict, put forth by the Ministry of Energy and Central Bank of Iran (CBI), requires the country’s legally registered cryptocurrency miners to sell the tokens they mine to CBI. The country, which has watched its foreign reserves dwindle by over 33% in two years, has increasingly eyed Bitcoin as a workaround to crippling US sanctions.
🗞 Why European Commission Regulations Won’t Kill Crypto in Europe https://decrypt.co/46667/european-commission-regulation-wont-kill-crypto-europe
At the end of September, the European Commission released its new Digital Finance package, which included two sweeping regulatory proposals specific to crypto-assets and blockchain.
There is little doubt that this is a big deal. If passed, both the Regulation on Markets in Crypto Assets (MiCA) and the Pilot regime for market infrastructures based on distributed-ledger technologies (let’s call it Pilot) will set the tone for the crypto industry in Europe for a decade at least.
The good news is that the industry has been waiting for just this kind of regulatory clarity. But now that it is here, there are—perhaps predictably—voices crying foul as well. Criticisms of MiCA have run the gamut from crippling blockchain innovation to favoring incumbents to destroying all hope for DeFI in the EU.
🗞 Daily Crypto Calendar, October, 30th💰
TomoChain (TOMO)
V2.3.0 due by October 30.
LIBERTAS (LIBERTAS)
"- 30th October: Official release of the #Libertas DAPP." https://steempeak.com/trending/libertas
SparkPoint (SRK)
"SparkDeFi 101 Course on #SparkLearn" https://steempeak.com/trending/sparklearn
Tael (WABI)
"Masternodes rewards distribution."
Zcoin (XZC)
"StakedXZC is an ERC20 token representing $XZC held in Znodes that will continue to earn Znode rewards and will go live on 30 October."
Stratis (STRAT)
"Stratis community vote now on the sidechain masternode collateral which ends Friday at 5pm. 50% of each block will be distributed..."
**Last Updates**
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🗞 Daily Crypto News & Video October, 29th 💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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Today's Video is coming soon
🗞 Market Wrap: Bitcoin Slips to $12.8K; Ether Options Traders Prefer Calls https://www.coindesk.com/market-wrap-bitcoin-slips-ether-traders-prefer-calls
Major markets are in the red today, including bitcoin. Ether options traders have favored calls over the past month.
*Bitcoin trading around $13,184 as of 20:00 UTC (4 p.m. ET). Slipping 3.6% over the previous 24 hours.
*Bitcoin’s 24-hour range: $12,894-$13,831
*BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Katie Stockton, a technical analyst for research firm Fairlead Strategies, said Wednesday was a “risk-off” day where investors were shedding what they consider higher-risk assets, including cryptocurrencies. “Bitcoin is seeing a retracement of its strong up move as risk assets trade off sharply,” Stockton told CoinDesk. Risk assets, which include global equities, slipped Wednesday.
Neil Van Huis, director of institutional trading at liquidity provider Blockfills, noted bitcoin’s mining hashrate has dropped to levels not seen since June. Older, inefficient machines are being turned off, which he sees as a huge opportunity to invest in newer mining rigs at these price levels.
In the futures market, Denis Vinokourov, head of research at digital asset prime broker Bequant, noted the rise of institutional interest on CME, which surpassed $800 million in open interest Tuesday. “Futures contracts trading at a premium to spot prices even as the October CME expiry is fast approaching this Friday,” he said.
Ether options skew towards calls
The ether options market has been more favorable towards calls than puts recently. Derivatives exchange Deribit, which is by far the largest ether options venue, has seen 55% calls versus 44% puts the past month, according to data aggregator Genesis Volatility.
🗞 Coinbase to Launch Crypto Debit Card in US for Retail Spending https://www.coindesk.com/coinbase-to-launch-crypto-debit-card-in-us-for-retail-spending
Coinbase is launching its Visa debit card in the U.S. early next year.
The card will be available in all states except Hawaii and comes with a new rewards feature – 4% back in stellar or 1% back in bitcoin .
Coinbase Card has been active in the U.K. and European Union since April 2019 and currently operates in 30 countries. The card’s planned U.S. rollout comes on the heels of PayPal’s entry to the cryptocurrency sector, with the fintech giant opening bitcoin payments to its network of 26 million merchants.
American customers will be able to manage their cards directly through their Coinbase accounts. Any cryptocurrencies that Coinbase supports in the U.S. (and that a user holds in their account) can be spent through the debit card.
*“Industry trends illustrate increased consumer activity,” Coinbase spokesperson Crystal Yang said in an emailed statement. “Now Coinbase is taking mainstream adoption of crypto one step further by introducing Coinbase Card in the U.S.”*
🗞 The Graph Token Sale Raises $12 Million in 24 Hours https://decrypt.co/46560/the-graph-token-sale-raises-12-million-in-24-hours
The Graph, a blockchain data provider, has raised $12 million selling GRT protocol tokens.
It expects to launch its mainnet data provider network within two months.
The Graph provides data to major DeFi customers, including Aave and 1inch.exchange
The Graph, a blockchain data company providing services for some of DeFi’s most popular apps, has raised $12 million in a token sale that sold out in just over 24 hours.
The Graph Foundation announced today the successful sale of 400 million GRT tokens for $12 million in funding, performed entirely on-chain using The Graph’s own technology. The sale represents 4% of the total GRT supply and included 4,500 participants across 90 countries.
🗞 Group Uses Flash Loan to Game Maker Protocol Governance https://decrypt.co/46575/group-uses-flash-loan-to-game-maker-protocol-governance
BProtocol proposed a governance vote on the Maker protocol.
To make sure it passed, it used a flash loan to borrow the necessary MKR tokens.
Maker teams are making changes to avoid future governance attacks.
Want something fast in decentralized finance but don’t want to wait for that whole decentralized governance thing? Just use a flash loan!
That’s what BProtocol, founded behind the former CTO of Kyber, did, using a single transaction to push through its own proposal on the Maker protocol.
Flash loans allow DeFi users to take out large loans for a fraction of a percent, provided they can pay back the full amount during a single Ethereum block. They’re typically used to take advantage of arbitrage opportunities, so that a trader can simultaneously buy a token at a low price and sell it elsewhere for a higher one.
Here’s how it worked:
BProtocol used 50,000 ETH to borrow wrapped ETH from decentralized exchange dYdX. It put the wrapped ETH on Aave protocol to borrow $7 million in MKR governance tokens, which allow holders to vote on proposals affecting Maker’s operations. It locked those tokens to vote for its proposal, then unlocked them to return the funds to AAVE and dYdX.
According to Maker, MKR locked in a voting contract “is only accessible with the wallet used to set up the voting contract.” (Maker hasn’t yet returned a Decrypt request for comment on the mechanics of the voting contract.)
🗞 Daily Crypto Calendar, October, 29th💰
Bitpanda Ecosystem Token (BEST)
BEST Token Burn
Komodo (KMD)
"AtomicDEX v0.3 Beta Launch On October 29"
Tael (WABI)
Wabi CEO sharing updates and announcements.
Nervos Network (CKB)
'We'll discuss all this at our next town hall on #CKLabs! Oct. 29th | 9:00 AM ET" https://steempeak.com/trending/cklabs
Vexanium (VEX)
"During the VYNDAO Beta, you can start to pledge / pawn VEX cryptocurrency to get USDV tokens."
iExec RLC (RLC)
"Submit questions on Twitter or Telegram. We'll collate them and answer live!," at 1 PM (UTC).
**Last Updates**
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🗞 Daily Crypto News & Video October, 28th 💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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Today's Video is incoming, while you wait you can watch the one from yesterday's 😉
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🗞 Bitcoin Hits 16-Month High Despite Sell-Off in Global Stocks https://www.coindesk.com/bitcoin-hits-15-month-high-despite-sell-off-in-global-stocks
Bitcoin’s (BTC) price continues to rise even as coronavirus-induced instability rocks the stock markets.
Bitcoin is trading near $13,420 at time of writing, a 2.77% gain on the day.
That marks a fresh 16-month high for the cryptocurrency, which is now up 25% for the month and 87% on a year-to-date basis.
Bitcoin's on-chain data, too, is showing no signs of investor trepidation.
The number of daily deposits to cryptocurrency exchanges fell to a nine-month low of 26,889 on Monday.
Further, the total number of bitcoins held on exchanges slipped to a two-year low of 2,478,799 BTC, according to data source Glassnode.
The decline in exchange deposits suggests investors are unperturbed by the risk aversion in traditional markets and see low odds of bitcoin suffering an equity market-induced sell-off.
Investors typically move coins from their wallets to exchanges to liquidate holdings when expecting a price slide, and take direct custody of their assets when the cryptocurrency is expected to rally.
🗞 MicroStrategy's crypto holdings may be paying off more than its business https://cointelegraph.com/news/microstrategy-s-crypto-holdings-pay-off-more-than-its-business
Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit.
According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020.
Rooke’s data shows that the business intelligence firm’s 38,250 BTC holdings — worth roughly $425 million at the time of purchase in August and September — were valued at more than $525 million during the recent price surge to $13,745. According to the researcher, Microstrategy only earned $78 million in net income from its business operations in the last three and a half years.
*“Our recent decision to make Bitcoin our primary treasury reserve asset is the latest example of MicroStrategy’s embrace of virtual technologies,” said CEO Michael Saylor regarding the firm’s most recent quarterly report. “The purchase of $425 million of Bitcoin during the quarter offers the possibility of greater return potential for investors than holding such balances in cash and has increased the overall visibility of MicroStrategy in the market.”*
🗞 Major French Bank Taps ConsenSys to Develop Digital Currency https://decrypt.co/46471/major-french-bank-taps-consensys-to-develop-digital-currency
Societe Generale - Forge has chosen ConsenSys to provide "technology and expertise" on central bank digital currency issuance.
The investment bank is one of eight firms commissioned by the French central bank to experiment with a CBDC.
France is steaming ahead with plans for a CBDC that addresses interbank settlement.
Societe Generale - Forge, a subsidiary of European investment bank Societe Generale, has chosen Ethereum software incubator ConsenSys to provide it with “technology and expertise” related to the issuance of a central bank digital currency.
After taking part in a test of a digital euro in May, Societe Generale - Forge was named by the Banque de France as one of eight potential partners for a CBDC in July. The French central bank, which represents the second-largest economy in the European Union, is one of the first in Europe to experiment with a CBDC for interbank settlement.
🗞 Bitcoin fees spike 198% but Ethereum still more profitable https://cointelegraph.com/news/bitcoin-fees-spike-198-but-ethereum-still-more-profitable
Bitcoin (BTC) transaction fees have nearly tripled in three days, from $3.52 to $10.20 on average.
According to crypto market data aggregator Glassnode, 22.25% of Bitcoin miners’ income is currently made up of fees, with the other 77.75% coming from block rewards. The share of fee revenues is currently the highest it has been since the plateau of the last all-time high in January 2018 — which followed fee revenues spiking to almost a 45% share during the previous month.
The latest spike follows a jump in average daily Bitcoin fees in recent days, launching into double-figures in dollar terms for the only time except for the period between November 2017 and January 2018.
Despite the share of mining revenue represented by fees tripling in the past month for Bitcoin miners, Ethereum (ETH) miners are still raking in more fees. Ethereum fees recently outpaced those generated by Bitcoin for the longest streak ever, owing to stablecoin use and the exploding decentralized finance (DeFi) sector built on the Ethereum network.
🗞 Daily Crypto Calendar, October, 28th💰
DistX (DISTX)
DistX launches its secure token sale platform.
Zcoin (XZC)
Zcoin is rebranding.
New BitShares (NBS)
"Trading pairs NBS/BTC, NBS/USDT will be available on Oct 28 (UTC)."
Ocean Protocol (OCEAN)
"Ocean Protocol V3 launches tomorrow!"
Ardor (ARDR)
"#Ardor's new use case, in collaboration with @Esri_Spain, will be presented during #CEsri20 'Interconnecting our world' online event!" https://steempeak.com/@esri https://steempeak.com/trending/cesri20
Callisto Network (CLO)
Callisto Network's next AMA is confirmed for Wednesday 28th October from 19:00 to 20:00 (UTC 0) on Callisto's main telegram group.
Tael (WABI)
Wabi founders answering your questions and sharing news, announcements in Wabi Telegram group.
**Last Updates**
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🗞 Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop https://www.coindesk.com/market-wrap-bitcoin-falls-ethereum-fees-drop-further
Bitcoin’s price fell Monday on larger macroeconomic concerns while lower Ethereum fees benefit hardcore DeFi users.
Bitcoin (BTC) trading around $13,011 as of 20:00 UTC (4 p.m. ET). Slipping 0.33% over the previous 24 hours.
Bitcoin’s 24-hour range: $12,773-$13,250
BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
*“I think that it is possible to keep around $13,000 for the short term,” said Willock. “There will likely be some traders looking to close out longs from the recent run-up that might cause a minor retrenchment,”* he added.
While bitcoin has dipped when equities slump of late, the bellwether of cryptocurrency has performed much, much better than stocks over the balance of 2020.
Ether fees keep dropping
On Saturday, Oct. 17, the daily average fee on the Ethereum network hit a three-month low, at 0.00246199 ETH. That’s a level not seen since July 12 when the average was 0.00211437 ETH. Fees, which are trending back up from Sunday’s low, are required on Ethereum to send transactions, including to smart-contract based DeFi platforms.
🗞 Harvest Finance: $24M Attack Triggers $570M ‘Bank Run’ in Latest DeFi Exploit https://www.coindesk.com/harvest-finance-24m-attack-triggers-570m-bank-run-in-latest-defi-exploit
An arbitrage trade exploiting weak points in decentralized finance (DeFi) protocol Harvest Finance led to some $24 million in stablecoins being siphoned away from the project’s pools on Monday, according to CoinGecko.
According to reports, an attacker used a flash loan – a technique that allows a trader to take on massive leverage without any downside – to manipulate DeFi prices for profit. The exploit sent the platform’s native token, FARM, tumbling by 65% in less than an hour, followed by the project’s total value locked (TVL), which dropped from over $1 billion before the exploit to $430 million as of press time.
Flash loans strike again
The exploit itself was executed by a series of arbitrage trades between DeFi protocols Uniswap, Curve Finance and Harvest Finance, according to Etherscan. The attacker began by taking out a $50 million USDC flash loan from Uniswap. Then they began swapping between USDC and tether (USDT) to cause the two tokens’ prices to swing wildly.
Interestingly, some $2.5 million was sent back to the Harvest Finance contract. The developer team said the funds would be distributed pro rata to affected users. The token’s price has slightly rebounded, down 49% in 24 hours to $126.82, according to CoinGecko. The exploit joins a grouping of similar flash loan–based arbitrage trades conducted against DeFi applications in 2020. For example, lending platform bZx was the first to be hit by a flash loan exploit in February 2020.
🗞 Whale alert — crypto user moves $1.1B in Bitcoin https://cointelegraph.com/news/whale-alert-crypto-user-moves-1-1b-in-bitcoin
With Bitcoin's price continuing to hold close to $13,000, one crypto wallet has moved more than $1 billion of the digital asset.
According to on-chain data, a Bitcoin (BTC) wallet holder moved more than 88,857 BTC — worth roughly $1.15 billion — for a fee of only 0.00027847 BTC, or $3.58 at time of publication. The coins were confirmed in block 654,364 on Oct. 26.
Data from analytics platform CrystalBlockchain appears to show that the user sent the coins from an address labeled as a Xapo Bitcoin wallet. Because Coinbase Custody acquired Xapo’s institutional business in 2019, it is possible that the $1.1 billion in Bitcoin originated from the U.S.-based exchange.
This transaction is the largest movement of any cryptocurrency by fiat value, with the Bitfinex exchange setting the previous record in April. It transferred 161,500 BTC — $1.1 billion at the time — for a fee of only $0.68.
🗞 Audius Distributes Crypto to RAC, Deadmau5 Listeners https://decrypt.co/46390/audius-distributes-crypto-rac-deadmau5-listeners
The blockchain-based music platform sent 50 million in AUDIO tokens to its “top 10,000 artists and fans."
Audius, the blockchain-based music platform that launched with a star-studded concert featuring deadmau5 and RAC, must think the party is just getting started.
On Friday, it retroactively sent 50 million in AUDIO tokens to the “top 10,000 artists and fans” on the platform, which includes big names such as deadmau5, RAC, and Skrillex.
The AUDIO governance token allows holders to vote on the future of the platform as well as unlock access to artists via a Discord server. The stated idea is to disintermediate the music industry and rebalance power toward artists.
However, Friday’s distribution is just 5% of the initial token supply of 1 billion. A further 406 million (40.6%) go to Audius’ team and advisors, some of whom are artists—including the aforementioned deadmau5 and RAC. Another 360 million head to investors, and 178 million earmarked for a treasury that the community controls.
🗞 Daily Crypto Calendar, October, 27th💰
OMG Network (OMG)
"OMG: Tuesday, 27 October at 12:00 AM UTC"
Tael (WABI)
"Product & tech & features update (every Tuesday)"
Fuse Network Token (FUSE), Kyber Network (KNC)
"Planned Listing Date: Tue, 27 Oct, 9pm SGT."
Aragon (ANT)
"The token upgrade will start Tuesday, October 27th. "
Ocean Protocol (OCEAN)
"Ocean Protocol V3 launches tomorrow!"
KardiaChain (KAI)
"Trading for KAI/USDT and KAI/BTC: 22:00 on October 27, 2020 (UTC+7)"
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