Binance to List Options Contracts for Litecoin

Cryptocurrency exchange Binance is to offer options contracts for the world’s seventh largest cryptocurrency, litecoin. According to a blog post on Tuesday, the litecoin contracts will go live on Wednesday at 07:00 UTC. A Binance representative told CoinDesk via email that the latest listing comes in response to “user demand,” adding that options are an […]

Bitcoin Breaks $19K, New All-Time High Seems Imminent

Bitcoin (BTC) passed above $19,000 on Tuesday, after rallying $7,000 in one month. The leading cryptocurrency is now within sight of its all-time high of $19,783 reached on Dec. 17, 2017. The price of bitcoin was $19,001 at press time, representing a 2% gain in the past 24 hours, according to the CoinDesk 20 index. […]

XRP Price Surges to 2-Year High as Airdrop Frenzy Builds

XRP has chalked up an impressive rally to two-year highs in the last few days, and an imminent airdrop may be driving the gains. Trading around $0.70 at the time of writing, the world’s third-largest cryptocurrency by market value is up 130% from lows near $0.30 seen on Saturday. Prices reached a high of $0.79 […]

Aquaculture Firm Completes Australia’s First IPO Raise Using Cryptocurrency

Australia-based West Coast Aquaculture (WCA) has completed an A$5 million (US$3.65 million) initial public offering, becoming the first firm in the nation to use cryptocurrency for its capital raise. In an announcement provided to CoinDesk on Monday, fintech firm STAX said it had assisted WCA in raising just over 89%, or just over A$4.4 million […]

OKEx’s Withdrawal Suspension Isn’t Behind Bitcoin’s Rally: Analysts

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 […]

Market Wrap: Bitcoin Briefly Drops Below $18K While ETH Uncouples From BTC

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 […]

More Institutions Are Buying Bitcoin, Say JPMorgan Analysts

In their “Flows & Liquidity†report, JPMorgan analysts say institutions are piling into bitcoin at a stronger pace this quarter than they were in Q3, and may have a bigger role in price movement than commodity trading advisors, or CTA. The Friday report was written by Nikolaos Panigirtzoglou, Mika Inkenen and Ekansh Agarwal. They said […]

First Mover: Near Record Highs, Bitcoin May Have a Volatile Week

Bitcoin is trading above $18,500, having charted a minor pullback to $17,800 over the weekend. The cryptocurrency’s one-month implied volatility metric has jumped to four-month highs, suggesting increased expectations for price turbulence over the next four weeks. “It’s likely the week ahead is filled with volatility with the possibility of a trading range between $19,000 […]

Latin America’s Big Blockchain Opportunity

When I lived in Chile during the 2000s, I would bring a book to the bank because there was always a one-hour wait just to talk to a teller. Registering a mortgage for a makeshift dwelling in Rocinha (a favela in Rio de Janeiro) was a seemingly impossible task, as there were no formal ways […]

Bitcoin Faces Volatility Rise as Futures Market Shows Signs of Overheating

A metric from bitcoin’s perpetual futures market suggests some traders may have become overleveraged during the recent rally to above $18,000. The average level of the “funding rate†across major exchanges has risen sharply from 0.023% to a five-month high of 0.087% in the past 48 hours, according to data source Glassnode. “Rising funding rates […]

Crypto Long & Short: 4 Metrics That Show How the Current Bitcoin Rally Is Different From 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. […]

Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys

PayPal’s recent leap into the crypto market is helping to drive the current bitcoin (BTC) rally, according to Pantera, a prominent cryptocurrency and blockchain investment firm. In an investor letter published Nov. 20, the venture firm compared the ongoing bull market to the last time BTC rose above $18,000, three years ago. “Previously the friction […]

Hacked Crypto Exchange KuCoin Resumes Deposit, Withdrawal Services for All Tokens

KuCoin, the Singapore-headquartered digital asset exchange that was hacked to the tune of $281 million in September, said it’s restored the deposit and withdrawal services of all tokens  as of Sunday. Due to ongoing judicial proceedings for some tokens, daily withdrawal limits will be put in place for a few tokens, the exchange said. Those limits […]

Coinbase Has Raked in $14B in New Institutional Assets Since April

Coinbase has seen a $14 billion increase in institutional assets under custody since April, its head of institutional coverage at Coinbase said in a YouTube interview published on Friday. Brett Tejpaul told interviewer Eliisabetta Bartolini, partner at Heidrick & Struggles, that institutional assets under custody were $6 billion when he joined the firm in April […]

XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave

XRP has surged to 16-month highs, leading a pack of cryptocurrencies all benefiting from bitcoin’s rally toward historic levels.  XRP, 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, […]

Bitcoin Miner Riot Blockchain Ends Week Up 50% After Tapping 2-Year Highs

As bitcoin continues surging toward record highs, bitcoin mining companies ride its coattails. Shares of the publicly traded bitcoin mining company Riot Blockchain rose 50% this week, trading hands just below $6.00 at week’s end. Bitcoin gained nearly 17% over the same period.  Riot shares surged even higher in early hours Friday, reaching $6.60, a […]

Bitcoin Miner Riot Blockchain Ends Week Up 50% After Tapping Two-Year Highs

As bitcoin continues surging toward record highs, bitcoin mining companies ride its coattails. Publicly traded bitcoin mining company Riot Blockchain rose 50% this week, trading hands just below $6.00 at week’s end. Bitcoin gained nearly 17% over the same period. Shares of the Castle Rock, Colo.-based firm surged even higher in early hours Friday, reaching […]

Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B

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 […]

First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K

Bitcoin reached fresh 35-month highs above $18,400 during the European trading hours. The cryptocurrency has failed to keep gains above $18,000 in the previous two trading days. It will be interesting to see if prices establish a foothold above that level on Friday. “The market showed a lot of resilience and dip buying interest to […]

BlackRock Exec Says Bitcoin Could Replace Gold ‘to a Large Extent’

Rick Rieder, CIO of Fixed Income at investment management giant BlackRock, has said that bitcoin and cryptocurrency are “here to stay.†Talking on CNBC’s Squawk Box on Friday, Rieder responded to a question asking if governments might try to regulate bitcoin if its price keeps rallying. “I think cryptocurrency’s here to stay, I think it […]

Players Prefer Cashing Out in Bitcoin Amid Rally, Says Online Poker Giant

One of the world’s largest poker networks has said its players currently prefer bitcoin to fiat money for payouts. Winning Poker Network, which operates a number of online poker sites, said has been forced to buy millions in bitcoin a day to meet the demands of exiting players. As reported by Bloomberg on Thursday, 90–95% […]

Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation

The U.S. Federal Reserve and the rise of “zombie companies†is prompting investors scramble to hedge against inflation using bitcoin and gold. That’s according to Mark Yusko, founder and CEO of investment firm Morgan Creek Capital Management, who spoke with CNBC’s Fast Money host Melissa Lee on Thursday. Yusko took aim at zombie companies (those […]

Ether Trades Above $500 for the First Time Since July 2018

Ethereum’s native cryptocurrency ether has jumped to 28-month highs, taking year-to-date gains to nearly 290%. The second-largest cryptocurrency by market value crossed above $500 soon before press time to reach the highest level since July 18, 2018, according to the CoinDesk 20. The move has happened alongside bitcoin’s rise to 35-month highs above $18,400. While […]

Market Wrap: Bitcoin Hangs Around $18K While Ether Locked in 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 […]

The Complete Case for $100K Bitcoin

What a year – a global pandemic, a wavering stock market, rising numbers of unemployed people and continued uncertainty in global markets. Yet, we saw the bitcoin price recover from $5,300 in March to almost $18,000 at time of writing. That’s almost a 240% return within nine months. For regular investors, the burning question is […]

Bitcoin Options Investors Are Starting to Hedge Against Potential Price Pullback

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 […]

Majority of Bitcoin Hashrate Signals Support for Taproot Scaling, Privacy Upgrade

Bitcoin mining pools representing over 54% of the network’s current hashrate have signaled support for the scaling and privacy protocol upgrade Taproot, merged into Bitcoin Core last month. Bitmain’s Antpool backed the protocol upgrade Thursday morning in a message sent to Poolin, the pool told CoinDesk, joining five other pools in Poolin’s Taproot Activation initiative […]

First Mover: What China Crackdown Means for $18K Bitcoin as Dimon Passes on Tea

Bitcoin was flat to slightly lower after briefly climbing Wednesday above $18,000 for the first time since December 2017. “There is a tsunami of buying power up against reluctant sellers,†Charlie Morris, CEO of the cryptocurrency fund manager ByteTree, wrote in a note to clients. “These buyers are putting real money behind Bitcoin, not the […]

Gemini Exchange Is Using ClearBank for UK Banking Services

ClearBank says it has been chosen by the Gemini cryptocurrency exchange to provide its U.K. banking services. U.S.-based Gemini had announced in late September that it was expanding “fully†into the United Kingdom, offering trading and custody services. ClearBank said in a press release Thursday that it is providing Gemini users with account numbers and […]

Deutsche Bank Says Investors Increasingly Prefer Bitcoin Over Gold as Inflation Hedge

Bitcoin’s appeal as an alternative store of value asset is strengthening, according to analysts at Germany-based investment bank Deutsche Bank. “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things,†Jim Reid, managing director, head of global fundamental credit strategy, said, […]

Market Wrap: Bitcoin Hits $18.4K; $260M in Ether Options Expire in December

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 […]

Bitcoin’s Rally Could Be Caused by a Supply Crunch in China

Bitcoin’s price surge may be driven as much by a drying up in supply as by an increase in demand.  That’s because Chinese miners are struggling to sell their crypto in ways that would quickly get them much-needed cash in the face of a government crackdown on local exchanges.  “The lack of supply has fed extremely […]

OKEx Token Rallies on Rumors Founder Xu Released From Custody

OKB, the in-house token for leading crypto derivatives exchange OKEx, rallied more than 13% Wednesday on rumors that the firm’s founder, Mingxing “Star†Xu, had been released from police custody. The exchange reported losing contact with Xu on Oct. 16 and was forced to suspend all trading account withdrawals, as CoinDesk reported at the time. […]

Thai SEC Revises Net Capital Rules in Bid to Open Liquidity, Support Digital Asset Businesses: Report

Thailand’s Securities and Exchange Commission (SEC) has announced changes to its net capital requirement rules for brokerages and securities firms, including those in the digital assets sector. According to a report by the Bangkok Post, the revised requirements are aimed at raising liquidity in the market and supporting the growth of new businesses, including cryptocurrency […]

First Mover: As Bitcoin Shoots Past $18K, There’s Comfort in the Crowded Trade

Bitcoin’s ascent continues, with prices scaling the $18,000 mark during Asian trading hours. In a sign of persistent dip demand, sudden pullback to $17,200 seen following the breakout to fresh 34-month highs was quickly reversed. “Bitcoin will now be setting its sights on the all-time high of $20,000,†Simon Peters, crypto asset analyst at multi-asset […]

Dutch Crypto Exchange Adds Extra Verification Measures Citing ‘Disproportionate’ Central Bank Requirements

Netherlands-based cryptocurrency exchange Bitonic says it has been “forced†to bring in extra verification measures due to requirements from the country’s central bank. In a notice published Monday, the exchange said it will now ask users for extra information “such as the purpose with which you intend to purchase bitcoins and what kind of wallet […]

OKEx Mining Pool Flatlines After 99.5% Hash Power Drop as Withdrawal Suspensions Spook Clients

OKEx’s mining pool has gone from being one of the world’s largest to not mining any new blocks in over two weeks after the firm lost 99.5% of its hash power one month after it suspended withdrawals from trading accounts. Launched in October 2018, OKEx used to rank as one of the tenth largest mining […]

Bitcoin Indicator Suggests Bull Market Is Still in Early Phase

Bitcoin has plenty of scope to extend its current rally, a price indicator suggests, even as the cryptocurrency is fast closing on the record high near $20,000 set three years ago. With prices rising by 80% to levels above $18,000 in the past six weeks, the cryptocurrency’s Mayer Multiple – the ratio of price to […]

Crypto Exchange Liquid Says User Data Possibly Exposed in Security Breach

Customers registered with the Liquid exchange may have had their data exposed to bad actors, the company said Wednesday. In a notice on its website, Liquid CEO Mike Kayamori said the attack occurred on Friday, Nov. 13. “A domain name hosting provider that manages one of our core domain names incorrectly transferred control of the […]

Bitcoin Closes in on All-Time High as it Blasts Through $18K

Bitcoin’s price broke through $18,000 in what some experts are attributing to global events and bullish fundamentals in crypto. The world’s top cryptocurrency by market capitalization reached a high of $18,062 at 03:01 UTC, a price point not seen since Dec. 16, 2017. Over the past 24-hours, bitcoin has ranged between $16,560 and $18,062. Bitcoin […]

Grayscale’s Crypto Assets Under Management Break $10B

In another sign of renewed exuberance in cryptocurrency markets, Grayscale Investments has broken above $10 billion in digital assets under management for the first time. Disclosed Tuesday evening, the New York-based firm now oversees $10.4 billion in assets including bitcoin, bitcoin cash, ether, horizen, ether classic, litecoin, stellar, XRP and zcash. That’s up from $7.6 […]

Bridgewater’s Dalio: ‘I’d Love to Be Corrected’ on Bitcoin. Twitter Obliges

Bridgewater Associates founder Ray Dalio asked for and received a heaping dose of the “radical candor†he is well known for when he said he’d “love to be corrected†on the negative views about bitcoin he expressed last week. In a Twitter thread, the chairman of the world’s largest hedge fund said, “I might be […]

Market Wrap: Bitcoin Breaks $17.8K, Outperforming Ether in November So Far

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. […]

CME Sees Record High Open Interest for Bitcoin Futures on Wave of Institutional Inflows

Open interest for bitcoin futures traded on CME Group’s exchange has reached record highs of $976 million amid a surge of institutional capital inflows to the leading cryptocurrency and its derivative markets. Open interest, or the total number of outstanding derivative contracts, on CME Group’s bitcoin futures market reached its highest level since mid August […]

Traders Brace for Major Volatility as Bitcoin Price Nears Record Highs

Bitcoin traders expect a significant increase in volatility as the leading cryptocurrency continues to recoup nearly all its losses since topping out just below $20,000 in late 2017. Whether the volatility comes from increased buying or selling is a matter of disagreement. Through bitcoin’s current rally, volatility has remained low. Since late August, 30-day volatility […]

First Mover: Bitcoin Tops $17K as Scaramucci Makes Entrée, Ethereum Meets Rival

Bitcoin climbed above topped $17,000 early Tuesday for the first time since January 2018, pushing this year’s remarkable rally to 137% on a year-to-date basis. That’s 10 times more than the Standard & Poor’s 500 Index of large U.S. stocks. “Bears are in disbelief,†the digital-asset market analysis firm Arcane Research wrote early Tuesday in […]

Gold Lags Far Behind Bitcoin as Vaccine Optimism Buoys Markets

Bitcoin is outshining gold by a significant margin in price terms as expectations soar of a swift global economic recovery enabled by promising coronavirus vaccines. While the top cryptocurrency by market value has risen 22% to cross $17,000 this month, the precious metal is up just 0.5% at the current price of $1,890 per ounce. […]

Bitcoin Slices Through $17,000 as Market Cap Nears All-Time High

Bitcoin (BTC) traded above $17,000 Tuesday at 12:00 UTC for the first time since Jan. 7, 2018, according to the CoinDesk 20 price index. The rise pushes the leading cryptocurrency’s total market capitalization to over $315 billion, just short of its $335 billion record. Since its yearly lows below $4,000 in March, when prices crashed […]

Litecoin Flips Bitcoin Cash in Crypto Rankings With Rally to 9-Month Highs

Litecoin jumped to nine-month highs early on Tuesday, replacing bitcoin cash as the seventh-largest cryptocurrency by market value. The cryptocurrency rose to $75.77 during the Asian trading hours, a level last seen on Feb.24, according to the CoinDesk 20. Trading down slightly at $74 at press time, litecoin is still up 9% on a 24-hour […]

As DeFi Grows, Investors Look to Polkadot to Be the Next Ethereum

Look no further than the rapid growth this year in the white-hot arena of decentralized finance, or DeFi, and it’s clear why the Ethereum blockchain is dominating so many conversations right now in the digital-asset industry. The second-largest blockchain’s native cryptocurrency, ether (ETH), is up 266% this year – twice as much as mooning bitcoin […]

Coinbase Goes Down as Bitcoin Nears $17K

The website and mobile app of U.S. cryptocurrency exchange Coinbase are down as bitcoin is nearing $17,000, within striking distance of its all-time high of $19,665 set in 2017. According to a company update, a fix has been implemented and the company is “investigating this issue.” Coinbase has suffered a number of outages during busy […]

Market Wrap: Bitcoin Ascends to $16.8K; Uniswap and Tether 35% of Ethereum Transactions

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 […]

Why Bitcoin Thrives (and Why It Won’t Replace the Dollar)

Bitcoin is the leader of the pack in the crypto space. It has recovered from the disastrous crash of 2018 and is heading back towards the price it reached in December 2017. So what does the future hold for bitcoin? Could it eventually replace the dollar as the global reserve currency, as its loyal supporters […]

Binance Discontinues UK Pound Stablecoin Calling It Just an ‘Experiment’

Cryptocurrency exchange Binance is discontinuing its own BGBP cryptocurrency, a stablecoin linked to the value of pounds sterling. In a notice on Monday, the company said it is removing a number of trading pairs, including BGBP/USDC (USD Coin) on Tuesday at 12:00 UTC. This was the final pair listed for the stablecoin and its removal […]

First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus

Bitcoin was higher, climbing back above $16,000 on Monday after dipping below the mark over the weekend. “Should we trade back above $16,490, then we expect to see the bulls take the market by the horns and drive prices to a $17,000 handle,†Matt Blom, head of sales and trading at the cryptocurrency financial firm […]

Record Levels of Negative-Yielding Debt Strengthen Case for Bitcoin: Analysts

Bitcoin’s long-term bullish case may have got another boost as the global stockpile of negative-yielding bonds hits a new high. The value of the Global Negative-Yielding Debt Index from Bloomberg and Barclays is now at a record level of $17.05 trillion, surpassing the previous lifetime high of $17.04 trillion reached in 2019. The figure has […]

Citibank Executive Says Bitcoin Could Pass $300K by December 2021

A senior executive at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin. The whole of bitcoin‘s existence has been characterized by major price swings, “exactly the kind of thing that sustains a long-term trend,†said Thomas Fitzpatrick, a managing director at Citibank, in his report […]

Crypto Long & Short: What We’re Getting Wrong About Druckenmiller and Bitcoin

The chorus is getting louder. Adding his sonorous voice to the chorus of renowned investors talking about bitcoin recently, hedge fund manager Stanley Druckenmiller stated on a CNBC interview this week that he believed bitcoin could perform better than gold. Here’s part of the quote: “I own many, many more times gold than I own […]

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. […]

Value DeFi Suffers $6M Flash Loan Attack

Decentralized Finance (DeFi) protocol Value DeFi was exploited for approximately $6 million earlier Saturday, possibly due to a flash loan attack, a scheme often seen in the fast-growing DeFi sector. “A complex attack” on Value DeFi’s MultiStables vault has caused a net loss of $6 million, according to a tweet by Value DeFi on Saturday. […]

Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support

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 […]

Galaxy Digital Makes Twin Acquisitions in Bid to Strengthen Institutional Appeal

Cryptocurrency merchant bank Galaxy Digital has acquired two firms as it seeks to become the “go to†platform for institutional access to digital assets, the firm said Friday. Announced in a press release, the two new portfolio firms are DrawBridge Lending, a “white glove” service for borrowing and investing in digital assets, and Blue Fire […]

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 to move into consolidation for a time, […]

Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $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 […]

Mike Novogratz’s Galaxy Digital Q3 Net $44.3M

Galaxy Digital, the crypto merchant bank headed by noted crypto evangelist Mike Novogratz, reported net income of $44.3 million in the third quarter of 2020, up from a loss of $68.2 million in the year-ago period. Galaxy Digital’s total assets eclipsed $536 million, nearly $225 million of which was in cryptocurrencies. Volume at subsidiary Galaxy […]

First Mover: Why the Fed Cares About Remote Working – And What It Means for Bitcoin

Bitcoin was lower after surging nearly $600 on Thursday to climb above $16,000 for the first time in almost three years. “Investors should plan for volatility as well as price appreciation,†the blockchain analysis firm Chainalysis wrote in a newsletter. In traditional markets, European shares fluctuated and U.S. stock futures pointed toward a higher open […]

$300M in Bitcoin Flow to Binance From Huobi as China Gets Tougher on Exchanges

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, […]

Market Wrap: Bitcoin Hits $16.2K; Uniswap Crosses $3B Locked

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 […]

Hut 8 Mining Revenue Drops 43% in Q3 Despite Hash Power Increase

Toronto-based Hut 8 reported C$5.3 million (US$4 million) in Q3 mining revenue Thursday, down 43% from the previous quarter, but the bitcoin mining firm reaffirmed its plans to expand its hash power as the price of the cryptocurrency continues to rise. Hut 8’s Q3 revenue represents an 80% decrease from the same period last year.  […]

Marathon Reports Record $835K Quarterly Mining Revenue, Increased Bitcoin Holdings

Las Vegas-based Marathon Patent Group Thursday reported a record $835,184 in total quarterly bitcoin mining revenue for the September period, a 160% increase from the same period last year. Marathon isn’t done growing. With the price of bitcoin having risen xx% since May, the firm reportedly has invested $72 million in the same time period […]

Bitcoin’s Options Market Shows Strongest Bullish Mood on Record

Bitcoin’s options market is in the midst of its strongest bullish sentiment on record as the cryptocurrency rallies to three-year highs. The six-month put-call skew, or the spread between prices claimed by put options and call options expiring in six months, fell to a life-time low of -21.6% early Thursday, according to data source Skew. […]

Bitcoin Breaches $16K as (Committed) Holders Diss Dalio’s Diss

Bitcoin briefly climbed above $16,000 for the first time in three years before quickly falling back below the psychological threshold. Digital-asset market traders and analysts say the cryptocurrency is likely to make another run higher, with strong demand expected from traditional investors looking for a hedge against inflation, at a time when sellers appear unwilling […]

98% of Bitcoin’s ‘Unspent Outputs’ Are Worth More Than When Made

A bitcoin on-chain metric has increased to three-year highs, suggesting a potential supply shortage and low odds of significant price pullback. While there are conflicting interpretations about this latest signal, many market observers are taking it to be positive for the cryptocurrency. The percentage of bitcoin unspent transaction outputs (UTXOs) in profit recently topped 98%, […]

Bitcoin Price Breaks Above $16K for First Time in 3 Years

Bitcoin’s (BTC) stalled rally picked up the pace on Friday, with prices reaching three-year highs above $16,000. The world’s top cryptocurrency by market capitalization clocked a high of $16,157 at 10:12 UTC, a price point last seen on Jan. 6, 2018. The move ended a week of consolidation in the range of $14,000 to $16,000. […]

Total Value Locked in DeFi Sector Hits Record $13.6B

The U.S. dollar value of the cryptocurrency liquidity locked up in all decentralized finance (DeFi) projects has hit another record. At around 08:00 UTC on Thursday, the total value locked (TVL), as provided by analytics website DeFi Pulse, reached a new lifetime high of $13.62 billion. TVL for all DeFi projects(DeFi Pulse) Harvest Finance, the decentralized platform that […]

Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 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. Bitcoin trading on Bitstamp since Nov. 9.Source: […]

Bitcoin Hashrate Rebounds as Asian Miners Bring Machines Back Online

Bitcoin’s hashrate bounced 30% Wednesday from quarterly lows on Nov. 2 as miners brought ASIC machines back online after relocating them out of China’s Sichuan province as the wet season ended in late October, as CoinDesk previously reported. Bitcoin’s mining difficulty registered a record-setting percentage decrease on Nov. 3 – the largest since the advent […]

Bridgewater’s Dalio Sees Governments Banning Bitcoin Should It Become ‘Material’

Ray Dalio, the founder and co-Chairman of Bridgewater Associates, the world’s largest hedge fund, said he sees three main problems with bitcoin and other cryptocurrencies that will limit their future, including that governments will “outlaw†them should they start to become “material.†In an interview with Yahoo Finance, Dalio said he expects more digitized versions […]

First Mover: Bitcoin Pause, Ethereum Snafu, 1,000% Returns Put Focus on Exchange Tokens

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 […]

Bitcoin Likely to Consolidate Before December Rise Toward $20K, Say Analysts

After the recent rapid rally, the bitcoin (BTC) market is likely to take a breather before continuing its rise toward the end of the year, analysts told CoinDesk. “The cryptocurrency may consolidate for a short period before moving higher into Christmas,†said Chris Thomas, head of digital assets at Swissquote Bank. Indeed, further notable gains […]