Those new to crypto, such as the institutional investors recently buying into bitcoin’s “digital gold” narrative, might now be looking around for the next big thing. With the long-anticipated arrival of the Ethereum 2.0 upgrade on Dec. 1, that could be the network’s native token, ether. But analysts say ether should be judged on its own merits and not as a bitcoin replacement. “I’ve always thought […]
Muyao Shen
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While some near-term pricing correction is likely to be expected, analysts who spoke to CoinDesk said bitcoin’s latest rally will be more sustainable for the long term compared with 2017, the last time bitcoin’s price hit an all-time high. One difference from the last bull run? The current market has gained support from a new wave of institutional investors mainly based in North America. “You could […]
The unexpected five-week-long suspension of OKEx’s crypto withdrawal service has left many of its users, largely based in China, disappointed and determined to leave or reduce holdings on the exchange when withdrawals resume sometime this week. “We will still trade on OKEx but our investment will be much more diversified and [we] will reduce our position on OKEx to about one-third of our previous one,” Alex […]
OKEx, likely trying to forestall a mass exodus of funds when its five-weeks-long freeze on withdrawals lifts this week, on Tuesday said it will offer a mix of compensation and rewards to users who’ve suffered because of the suspension. Meanwhile, a spokesperson from the Malta-based crypto exchange has confirmed with CoinDesk that the date to resume its cryptocurrency withdrawal service will be sometime before the previously […]
Bitcoin’s price has been up dramatically since the very day popular exchange OKEx announced the suspension of all crypto withdrawal service on its platform. However, while some tie the two together, many market observers do not see a reason to associate the latest price rally with OKEx’s issues. Bitcoin’s latest rally came after OKEx’s suspension on all crypto withdrawal.Source: CryptoQuant While the price of bitcoin gained […]
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 miners was #661647, mined […]
The latest flash loan attack in the decentralized finance world has caused a total loss of $6 million. Source link
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 […]
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 […]
Bitcoin was higher, pushing toward the upper edge of its recent range between about $14,700 and $15,600. “The positive sentiment towards bitcoin has not gone away,” said Denis Vinokourov, head of research at crypto prime broker Bequant. In traditional markets, Asian shares tumbled, led by Alibaba and Tencent, as Chinese government issues regulations designed to curb growing influence of big tech companies. European shares were up, and […]
Centralized exchange tokens have been skyrocketing this year, but none more so than Hxro, which has gained over 1,000% year-to-date. One of the reasons they have been doing so well might be because exchange tokens have been taking on the behavior of equity in the companies behind the exchanges, arguably the top revenue-getters in the crypto sector. Unlike stocks, exchange tokens are unregulated. Thus, as they […]
Cryptocurrency deposit withdrawals are still suspended at the OKEx exchange following a founder’s recent arrest, but officials with the Malta-based company are moving ahead with other matters, including planning around an upcoming hard fork on the Bitcoin Cash blockchain. Source link
Bitcoin has pulled back from 2020’s highs while ether slips as DeFi cools off. Bitcoin (BTC) trading around $12,919.97 as of 20:00 UTC (4 p.m. ET). Slipping 1.36% over the previous 24 hours. Bitcoin’s 24-hour range: $12,731.06-$13,192.25. Bitcoin’s price had a minor pullback Friday after hitting fresh new 2020 highs that put it above $13,000 in the past week. However, analysts and traders said they were […]
Two cryptocurrency trading firms are merging, and in a rare twist, so are their tokens. Voyager Digital, a publicly traded digital asset brokerage with offices in New York, has agreed to buy LGO, a French crypto exchange primarily serving institutional investors, as the company expands to Europe. The transaction requires regulatory approval, which the parties said they expect to receive by the end of this year, […]
Bitcoin (BTC) has risen above $13,000 in less than 24 hours after it broke the $12,000 level on the news that PayPal will support cryptocurrencies on its platform. Source link
Harvest Finance, a decentralized platform that lets users automatically “farm” assets for the highest returns in other decentralized finance (DeFi) projects, now has more than $700 million in total value locked, according to DeFi Pulse, unseating decentralized derivatives exchange Synthetix. Source link
The Huobi cryptocurrency exchange assured users its trading platform is “currently operating normally” after one of its biggest competitors, OKEx, announced it suspended all cryptocurrency withdrawals indefinitely. “Huobi’s cold wallet uses multi-signature and threshold signature technology to ensure the security of the private key signature process,” Ciara Sun, vice president of Huobi Global Markets, told CoinDesk in a Wechat message. “Multiple people and multiple backups ensure […]
Cryptocurrency exchange Binance’s latest experiment to integrate decentralized finance with its centralized platform, Binance Smart Chain, is not here to beat DeFi, said the company’s CEO, Changpeng “CZ” Zhao. Instead, it aims to accelerate crypto and DeFi’s mass adoption. “Today, 99.9% of the money is still in fiat,” said Zhao in a one-on-one session with CoinDesk’s Leigh Cuen, during CoinDesk’s invest: ethereum economy virtual conference Wednesday. […]
The U.K. Financial Conduct Authority’s decision to ban individual investors from speculating on bitcoin and other cryptocurrencies is likely to have a minimal impact, partly because the market is so small, according to analysts and industry executives who track the trading business. Some U.K.-based brokerages that had offered the crypto derivative products to retail traders could see a drop-off in revenue, though big cryptocurrency exchanges including […]
The largest U.S. regulated market for bitcoin futures has been sounding out cryptocurrency traders to gauge their interest in a listing of futures and options on the Ethereum blockchain’s native tokens. Source link
Chinese tech companies were once seen as copycats of their Western peers: Alibaba was a knockoff of eBay and Baidu imitated Google. More recently, Chinese firms like TikTok and Huawei have established such dominant international positions that U.S. authorities have tried to hold them back. Now, the technological arms race is playing out in the cryptocurrency industry, where one Chinese company is taking on Ethereum, the […]
Binance, Gemini, and Kraken have become the biggest winners since US regulators’ charges against BitMEX on Thursday. Source link
Four years ago, when the Seychelles-based cryptocurrency exchange BitMEX announced a new product called the “perpetual bitcoin leveraged swap,” few traders in nascent digital-asset markets could have anticipated what a major impact the obscure roll-out would have on the industry. But the instrument, which made it easy for customers to trade the equivalent of $100 of bitcoin for every $1 down, proved hugely popular and successful […]
It might be part of every job in crypto to anticipate and react to fast-moving developments that seemingly change the industry’s direction overnight. And apparently not even Changpeng “CZ” Zhao, the high-profile leader of Binance, the world’s largest cryptocurrency exchange, is immune to the industry’s capricious shifts. In a video interview with CoinDesk’s Muyao Shen, Zhao acknowledged that the emerging blockchain sector of decentralized finance, known as DeFi, […]
The balance of bitcoin on major exchanges has hit its lowest levels since November 2018. Yet unlike that time, when bitcoin was in the depths of the crypto winter, some see this current spate of low bitcoin balances on exchanges as a sign that a new generation of investors is putting its money in it for the long term. Total Bitcoin Balances on All Exchanges(Glassnode) The […]
The total value of stablecoins has now surpassed $20 billion, reflecting the growing demand of investors looking to hedge their risks in both crypto and traditional markets amid the coronavirus pandemic. Source link
Prices for both Bitcoin and Ether fell sharply in the past 24 hours, after a drop in global equities. Source link
A group of anonymous Uniswap users is trying to unite the many small holders of the UNI governance token to deal with potential problems in the automated market maker’s (AMM) governance. Yet that is what the launch of UNI last week was supposed to do. The big initiative being promoted by this “union” is UNI Innamorare (or UNII), a token to be used by the Uniswap […]
Uniswap’s governance token, UNI, which was launched Wednesday night, has been on a roller-coaster ride in the past 24 hours, but despite the price volatility the total market cap of UNI could make the automated market maker (AMM) one of the most valuable decentralized finance (DeFi) projects in the coming years. Based on 1 billion tokens outstanding and a current market price of $3.50, the project […]
Federal Reserve officials said Wednesday that they would hold U.S. interest rates close to zero and work to push inflation above 2% “for some time.” Source link
Decentralized finance (DeFi) has been grabbing the headlines and capturing the imagination of traders in recent weeks and some of the biggest centralized cryptocurrency exchanges seem to be afraid they’re missing out. That’s why they are now trying to reposition themselves as integral parts of this exploding sector, particularly as traders in China grow more interested in DeFi. Huobi announced Tuesday it was adding 10 more […]
Binance continues to chase after decentralized finance, known as DeFi, by giving its new Binance Smart Chain access to its centralized exchange. Source link