Exchange Tokens Are Skyrocketing as They Act More Like Equity; That Could be a Problem

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 […]

World’s Second Biggest Bank to Issue $3B in Bonds Tradable for Bitcoin

China Construction Bank (CCB) has tapped Hong Kong-based digital asset exchange Fusang for the issuance of $3 billion-worth of debt securities over a blockchain. According to a Wednesday report by the South China Morning Post, tokenized bond certificates will be issued through the state-owned bank’s Labuan, Malaysia, branch over a period of three months. Notably, […]

Nearly $360M in Bitcoin Moved to Ethereum in October Despite DeFi Cool Off

Ethereum is still the most popular off-chain destination for bitcoins (BTC) as the total supply of tokenized BTC reached 150,000 BTC ($2.05 billion) at the end of October, up 21% since September. Growth has slowed significantly, however, since the decentralized finance (DeFi) craze that peaked near the end of Q3. Roughly $360 million worth of […]

Market Wrap: Bitcoin Flat at $15.3K; Crypto Locked in DeFi at 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 […]

Volume Surge Brings 25% Turnover to ‘CoinDesk 20’

Goodbye, dai and bitcoin sv. Hello, kyber and cosmos. A swelling in volume in the crypto markets over the third quarter has changed the list of noteworthy digital assets beyond bitcoin and ether that matter most to traders and investors. That change is reflected in the CoinDesk 20. In the latest revision, based on data […]

First Mover: Bitcoin Needs No Vaccine as Druckenmiller Lays Down ‘Better Bet’

Bitcoin was higher, though barely, appearing to settle into a new range over the past several days between roughly $14,800 and $15,600. “Should bitcoin prices consolidate this week,†wrote Matt Blom, head of sales and trading for the digital-asset firm Diginex, “it would set us up for the next leg up towards $17,000.†In traditional […]

3 Reasons Bitcoin Has Rallied Over 60% in Just Two Months

Bitcoin (BTC) has chalked up a stellar price rally in the past two months, reaching 33-month highs close to $16,000. The uptrend began in early September after buyers bought a dip below $10,000, and gathered pace in the second half of October. Last week, prices reached a high of $15,971, a level last seen in […]

Riot Blockchain Mined 224 Bitcoins in Q3

Publicly traded bitcoin mining company Riot Blockchain reported earnings for the September period Monday, noting a significant increase in revenue and hash power from a year ago with plans for continued expansion. Reporting over $2.4 million in mining revenue, the Castle Rock, Colo.-based mining firm increased revenue by 42% from the same period in 2019. […]

Market Wrap: Bitcoin Drops as Low as $14.8K; ETH Options Open Interest at Record High

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 […]

Crypto Long & Short: Bitcoin Gets Ready for a New Type of 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 […]

Bitcoin’s Weekly Close Above 2019 High Leaves Runway Clear to $20K

Bitcoin (BTC) made a weekly close above 2019’s peak price, toppling the final technical barrier on the road to a potential new all-time high. The top cryptocurrency by market value ended last week (Sunday, UTC) at least $1,600 above the high of $13,880 observed at the end of June 2019. Notably, that level marked the […]

First Mover: What’s Next for Bitcoin as Wall Street Gets Vaccine Booster

Bitcoin was higher for a second day, staying in a range between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks. With the outcome of last week’s U.S. presidential election now mostly settled, crypto analysts turned to other market factors, such as […]

Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From 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 […]

Markets Spike as Coronavirus Vaccine Trial Shows 90% Success Rate

Both bitcoin and U.S. stock futures shot up on Monday after a U.S. pharmaceutical giant announced positive results from a large-scale clinical trial of a coronavirus vaccine. Risk appetite improved as Pfizer said its experimental vaccine has been 90% effective in preventing infections in the ongoing trial, Bloomberg reported. The news raises hopes that there […]

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 […]

Spot Markets, Not Leverage, Fuel Bitcoin’s Price Rally Amid Mild Derivative Liquidations

Red-hot spot markets are primarily fueling bitcoin’s recent rally as the leading cryptocurrency trades at three-year highs around $15,500, suggesting the bull market may have room to continue. Unlike previously rallies, derivatives markets are playing a markedly less prominent role, demonstrated by mild liquidation volumes. The presence of derivatives in bitcoin’s ongoing rally is “muted […]

Veteran Investor Bill Miller Says Every Major Investment Bank Will Own Bitcoin or Something Like It

Mutual fund legend Bill Miller told CNBC Friday the risks of bitcoin going to zero are “lower than they’ve ever been before†and predicted more institutional investment in the cryptocurrency. “The bitcoin story is very easy. It’s supply and demand,†Miller said. “Bitcoin’s supply is growing around 2.5% a year and the demand is growing […]