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Himadri Saha



Articles by Himadri Saha

Bitcoin Could Register Second Highest Monthly Close in History: Peter Brandt

15 hours ago

Bitcoin has been on fire during the past 48 hours, thanks to the ‘PayPal crypto on-ramp launch news.’  What is even more interesting to note is BTC’s future market outlook.
Veteran trader and analyst Peter Brandt said that the cryptocurrency is about to log its second-highest monthly close since it started trading first. Brandt says this is a direct result of institutional involvement.
Bitcoin Poised To Log Second Highest Monthly Close
An accomplished forex and stocks trader with more than 40 years of experience under his belt, Brandt always delivers unbiased trading insights for bitcoin and other cryptocurrencies. And the community greatly respects him for the same.
The latest BTC rally made him evince another trend that will significantly boost the confidence of bitcoin

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Traders’ Digest: After $12K, Bitcoin Is Heading To $14,300 Before 2021

2 days ago

Characterized by an explosive rally in the last 24 hours, bitcoin just took back this year’s high again. But a popular TradingView-based analyst is calling for BTC to hit $14,300. This is based on the ‘Underlying Trend-line’ analysis, which, according to him, is the “the most consistent trend-line since March.”
Bitcoin Testing The Underlying Trendline Again, Next Stop $14,300
As per TradingShot(TS), a widely popular bitcoin analyst, all the signs are pointing to BTC rallying to higher price points. How high? Well, the ‘Underlying Trend-line’ that TS published in June this year suggests a climb to the $14,300 mark.
Bitcoin Underlying Trendline Source: Trading Shot, TradingViewTS says that bitcoin’s current underlying trendline has been the most consistent one since March.

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Hackers Donate Stolen Bitcoin Worth $20,000 to Two Non-Profit Organizations

3 days ago

In what seems to be a case of black hat hackers masquerading as the internet’s self-professed Robin Hoods, two charitable organizations have received mysterious bitcoin donations from a cybercriminal group.
The generous gesture is worth 0.88 BTC (around $10,000), with the donating hackers wanting to “make the world a better place.”
Hacking Corporations To Give Back To The Society?
As per the latest report published by BBC, this altruistic act of benevolence coming from online perpetrators has left cyber-crime experts puzzled. And why not? This Robin Hoodesque act move is a first and doesn’t at all follow the MO (read modus operandi) pattern of Darkside hackers.
Two charities – The Water Project and Children International, have indeed received bitcoin donations worth

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As Founder Reportedly Arrested, OKEx Holds $2.3 Billion in Bitcoin

7 days ago

A few hours ago, global cryptocurrency exchange giant OKEx halted withdrawals much to the chagrin of traders and investors. Bitcoin prices fell as a response to additional reports of founder Xu Mingxing being arrested over a week ago. However, what should be more concerning is the amount of BTC held by the exchange’s wallets. Data says that the value of holdings is easily worth $2.3 billion.
Around 200,000 BTC Worth $2.3 Billion Stashed Up in OKEx Wallets
After the latest mess surrounding OKEx withdrawals, on-chain market analysis firm Glassnode released data pertaining to the number of bitcoins held by the exchange, and the numbers are pretty significant.
According to our data, around 200,000 BTC (1.1% of the circulating bitcoin supply) are currently held in #OKEx

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After Square, Coinbase Will Now Fund Bitcoin Development With a New Grants Program

7 days ago

In hopes of regaining the support of the cryptocurrency community after the ‘apolitical’ stunt, Coinbase has decided to fund ‘at-least’ two Bitcoin Core developers. This sponsorship act marks the debut for Crypto Community Fund, the exchange’s new grants program.
Coinbase Shows Support For Bitcoin Development
In a blog article released yesterday, Manish Gupta, EVP of Engineering at Coinbase, announced plans to sponsor at-least ‘two Bitcoin developers who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects.’ As of writing, the change has started accepting applications.
This comes after Coinbase faced a lot of heat for proclaiming it’s ‘apolitical company mission’ that led to the departure of 60 employees. Coinbase said that it intends to

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Bitcoin is Overpriced and Trades 13% Above its Intrinsic Value: JP Morgan

9 days ago

Financial strategists at JP Morgan have projected a bleak outlook for bitcoin prices in the short term. According to them, the cryptocurrency has a higher price and is trending at 13 percent over its ‘intrinsic value.’
They based their analysis on ‘positioning indicators’ derived from bets made by traders in the futures markets. But does the argument hold true?
The Weather in Bitcoin Land Will Consist Of ‘Modest Headwinds’
According to the latest reports from mainstream media outlet Bloomberg, JP Morgan strategists have presented a near-term bearish case for bitcoin price. Looking at a futures market-based positioning indicator, Nikolaos Panigirtzoglou and his fellow colleagues stated ‘that there still appears to be an overhang of net long positions.’
Bitcoin lost much of

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The Last 3 Times This MA Cross Took Place Bitcoin Price Rallied 42%

10 days ago

Popular bitcoin commentator Lark Davis, who goes by the name of ‘TheCryptoLark” on Twitter, just shared a BTC trend chart that has ‘bullish’ written all over it.Lark says that the top cryptocurrency is on the cusp of crossing the 50-day moving average, and every time it happened in the past, BTC rallied 42 percent on average. If history repeats, bitcoin could be trading st $15,500 by late-November. Will it happen?If History Repeats, Bitcoin Price Could Zoom 42 PercentIn his latest tweet, TheCryptoLark posted a bitcoin price trend chart that has given investors 42 reasons to smile. As per Lark’s chart, bitcoin’s price is about to cross the 50-day moving average. And this could open doors to some blazing BTC market action. But why?The last three times #bitcoin crossed the 50 day moving

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Bitcoin Futures Open Interest at 1-Month High

10 days ago

In a suddenly galvanizing rally, Bitcoin’s price shot to the $11,700 mark last night.  Open interest has soared and is now at a 1-month high. Bitcoin traders are opening long positions and this trend was pointed by Willy Woo as well.At $4.3 Billion, Bitcoin Futures Open Interest Tops 1 Month HighAlso, a noticeable trend is a rise in aggregated open interest (OI) on different bitcoin futures trading platforms. Yesterday the figure touched a one-month high of $4.3 billion as per Skew.Bitcoin Futures Aggregated Open Interest at 1-Month High, Source: SkewOpen interest in futures trading represents the number of active contracts held by traders and investors. This amounts to open positions that have not been settled or closed out.Along with open interest, aggregated daily volumes for bitcoin

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Goldman Sachs: The US Dollar Could Free Fall to 2018 Lows, Time for a New Bitcoin ATH?

11 days ago

The odds of Joe Biden winning the upcoming Presidential election and significant progress being made on the coronavirus vaccine front are unnaturally high, as per Goldman Sachs. Also, what is extremely possible is the US Dollar’s drastic drop to its 2018 lows because of these two probable events, according to the global banking giant. Will this cause bitcoin (BTC) price to break new highs?
The Time For The USD’s Drop To A 2-Year Low Is Nigh: Goldman Strategists
In one of the latest Bloomberg reports, analysts at Goldman Sachs Group Inc. have predicted a near doom for the greenback. This, they say, will happen on the back of ‘Joe Biden winning the U.S. election and progress on a coronavirus vaccine.’
Hedge Funds are Bearish on the US Dollar for the first time in 2 years,

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10 Million Euros Lost to Crypto Frauds in Belgium in One Year

12 days ago

This week, Belgium’s Financial Services and Markets Authority made a startling revelation. Cryptocurrency fraud victims have lost at least €10 million between May 2019 and September 2020, the financial regulator said.Belgians Have Lost €10 Million In Cryptocurrency FraudBelgian citizens have lost almost 10 million euros to fraudulent crypto investment schemes. Belgium’s apex financial authority, the Financial Services and Markets Authority, said on Monday. According to the watchdog, this data is from May 2019 to September 2020. Speaking about the modus operandi adopted by the scammers and crypto robbers, the FSMA said:These platforms often use very aggressive methods to try to persuade you to invest ever larger sums. They will also try to persuade you to let them take control of your

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Bitcoin in Spanish Parliament: All 350 ‘Deputies of Congress’ Are Now BTC Holders

14 days ago

As a part of an active Bitcoin and cryptocurrency education/awareness campaign, 350 members of the Spanish parliament (read deputies of Congress) have received a euro worth of BTC. This move mirrors the ‘Crypto for Congress Educational Initiative’ launched by the Washington-based Chamber of Digital Commerce to acquaint Members of the United States Congress with blockchain technology.350 Spanish Lawmakers Now Hold One Euro Worth Of BitcoinAs per reports from ABC, Spain’s third-largest national daily, Tutellus, a blockchain-focused educational platform, and Blockchain Observatory launched an initiative to appraise the country’s lawmakers about bitcoin and blockchain technology.Going by the specifics of the transactions, all 350 ‘deputies of the Spanish Congress’ have each received one euro

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Binance Smart Chain Handled 21% of Ethereum Transactions 35X Cheaper

14 days ago

Apart from BNB, Changpeng Zhao, the founder and CEO of cryptocurrency exchange heavyweight Binance has another reason to smile.Yesterday the Binance Smart Chain (BSC) handled 21 percent of Ethereum transactions, at 0.6 percent of the gas fees charged for transfers on the latter. This makes BSC about 35 times cheaper, he said. Also, CZ added that if BSC handles more volumes, it will bode well for BNB price and node operators.Binance Smart Chain Handles 21 Percent of Ethereum TransactionsAccording to the latest update from Binance CEO Changpeng Zhao, yesterday, the Binance Smart Chain (BSC) successfully processed 21 percent of Ethereum transactions charging a much lesser amount in transfer fees than the latter.Yesterday, #BinanceSmartChain handled roughly 21% of transactions compared #ETH,

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Bitcoin Fundamentals are in ‘Moon Mode’ Now: Will Market Respond Only In 2021?

15 days ago

Noted on-chain market analyst Willy Woo is of the opinion that Bitcoin’s network fundamentals including blockchain data and infrastructural metrics are going pretty strong. But the BTC market has still not caught up on this ‘moon-like’ action. Willy believes it will, only next year.Bitcoin On-chain Data And Metrics From Infrastructure Players are in ‘Moon Mode’Willy Woo, while tweeting from his official Twitter handle, took a heavily bullish stance on the state of the Bitcoin network. He said that it is one of those rare instances (in his bitcoin career) when BTC’s blockchain fundamentals are displaying significant strength (read ‘Moon Mode’).This is one of the few times in my Bitcoin career where the fundamentals (on-chain data and metrics from infrastructure players) are in moon mode,

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Monero (XMR) Becoming the Most Popular Cryptocurrency on Darkweb: Europol

17 days ago

Europol has named privacy integrated cryptocurrency mixing services as one of the most gnawing cybercrime threats of our times in the 2020 edition of its IOCTA report. Also, Monero is in the process of becoming the de-facto crypto coin for Darkweb transactions. Zcash and Dash are the next popular alternatives, the agency noted.Privacy Enhancing Cryptocurrency Wallet Services Are ‘Top Threats’Europol is out with it’s 2020 Internet Organized Crime Threat Assessment report. In it, the law-enforcement agency has named privacy-focused coin mixing services like Wasabi and Samourai wallets as one of the ‘top threats.’ This is in addition to ‘centralized coin mixers,’ which are already quite popular.Europol also pointed out other features that are concerning according to the agency.Samurai, for

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Stablecoin Market Cap Reaches $20 Billion: Same as Crypto Market Cap in February 2017

18 days ago

The combined stablecoin market recently topped a valuation figure of $20 billion. Apparently, this was the total market value of all cryptocurrencies in the pre-bull run month of February 2017. Also, stablecoins together are contributing to $26 billion worth of trading volume.The Crypto Stablecoin Market Is BoomingAs per the latest statistics, the total market cap of all stablecoins in circulation has topped $20 billion. This, as per crypto Twitter commentator, Dan Romero, was the value of the entire cryptocurrency market cap in February 2017.At $20B, the market cap of stablecoins is now greater than the combined market cap of all cryptocurrencies in February 2017. pic.twitter.com/DRa1tVBYFf— Dan Romero (@dwr) October 3, 2020With a market cap of $15.6 billion, Tether (USDT) is still the

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Ethereum 2.0 Testnet Size Tops 75 GB as Staked Test ETH Crosses 2 Million

18 days ago

Support for Ethereum 2.0 is growing rapidly. In a significant milestone, Eth2’s Medalla test net has expanded to more than 75GB in size. Along with this, the number of staked test ETH on the test net has crossed well above 2 million.Ethereum 2.0 Testnet Size Tops 75 GBAs per the latest reports, two months after the launch of Medalla, every node in the Eth2 test net is already holding more than 75 GB worth of data. It’s predecessor, the parent Ethereum blockchain, has a size of more than 452 GB.However, it is necessary to recall that the Ethereum blockchain is supported by full nodes, just like Bitcoin. Medalla/Eth2 test net nodes, on the other hand, come under the classification of ‘archive nodes.’ Archive nodes have to ‘keep the state at every state change.Whereas full nodes are

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Central Bank Cryptocurrency Could Incite Social Unrest, Deutsche Bank Says

19 days ago

Deutsche Bank is out with it’s latest cryptocurrency report. The global banking giant has discussed central bank digital currencies (CBDCs) in great detail, and their effect on central banks, individuals, and governments.In the discussion pertaining to individuals, DB says that CBDCs could encounter political resistance and encourage social unrest.Central Bank Cryptos Could Make A World Of DifferenceIn it’s latest CIO Special report, German banking heavyweight Deutsche Bank observed that CBDCs could put users in a sweet spot with payments. Individuals stand to experience faster monetary transactions without third party interference.Counter-party risk i.e., failure of one or more parties involved in a transaction, could be eliminated. DB went as far as to jibe cash transactions:Depending on

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Music On The Blockchain: RAC Issues A New ERC20 Ethereum Based Token

19 days ago

Grammy award-winning music creator André Anjos is the latest artist to tap into the cryptocurrency space. Better known by his stage name RAC, Anjos has launched a new Ethereum based community token for artists.The token is also named RAC. With it, the music producer intends to free artists and content creators from the clutches of large-scale corporations that stifle their financial freedom.RAC Gives Back To The Community With Ethereum Based $RACIn the RAC token issuing platform Zora’s latest blog post, André expressed how artists across multiple disciplines have been blatantly exploited by intermediary corporations. How their creativity has been a butt of overbearing contracts that rip through the essence of ‘creative ownership,’ and that the time is ripe for a ‘change.’RAC added that he

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6X Bitcoin: Ethereum Miners Made $166 Million from Gas Fees in September

21 days ago

It pays to be a miner and process cryptocurrency transactions on a proof-of-work blockchain. The Ethereum miners know this especially well as they made a record $166 million last month from transaction fees. Bitcoin miners, however, could barely manage to scoop up $26 million.Ethereum Miners Made 6X More Money Than Bitcoin Miners in SeptData from on-chain insights provider Glassnode shows that miners operating on the second most popular blockchain platform made a hefty $166 million from processing ETH transactions in September. This, as pointed out by the crypto market data providing firm, is a 47 percent appreciation over August and is a new all-time high.#Ethereum miners made a total of $166 million from transaction fees in September – a new ATH.That’s an increase of 47% compared to the

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US Banks Can Now Hold Reserves on Behalf of Stablecoin Issuers: OCC

September 22, 2020

The Office of the Comptroller of the Currency (OCC) is turning out to be the greatest supporter of the US cryptocurrency industry.Yesterday, the banking regulator issued a letter that greenlighted national banks and federal savings associations to hold “reserves” on behalf of stablecoin issuers. The stablecoins in the discussion are fiat-collateralized, i.e., backed by the US dollar or fiat currency of any other nation.US Banks Allowed To Hold Reserve Funds For Stablecoin IssuersOn Monday, the OCC published an ‘interpretive letter’ directing ‘federally chartered’ financial institutions in the United States to hold reserve funds for stablecoin issuers.…a national bank may hold such stablecoin “reserves” as a service to bank customers…The above will apply to only the stablecoin issuer that

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Iran to Support Bitcoin and Crypto Miners By Offering Output of 3 Power Plants

September 21, 2020

The latest news coming out of Iran points to growing support for Bitcoin and cryptocurrency miners in the country.Miners will now have access to the electricity output from three power plants to mint digital assets, courtesy of Iran’s Thermal Power Plant Holding Company (TPPH).Tender For Bitcoin, Crypto Miners To Leverage Output of 3 Power PlantsAccording to today’s report from an Iranian local daily, the country’s Thermal Power Plant Holding Company (TPPH) will hold a tender to offer the electricity output of three power plants for cryptocurrency miners. TPPH head Mohsen Tarztalab said:The Necessary equipment has been installed in three power plants of Ramin, Neka and Shahid Montazeri, and the auction documents will be uploaded on the SetadIran.ir website in the near futureAs Iran’s

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Hackers Have Been Trying To Crack Bitcoin Wallet Worth $750 Million But Here’s The Catch

September 19, 2020

A bitcoin wallet containing a little over 69,000 BTC is doing the rounds in hacking communities all over the internet. The reason? It’s obvious.Everyone (read seasoned hackers and self-professed bitcoin wallet crackers) wants to break it open and take it all. Or at least, a slice of the almost $750 million pie. For the last two years, however, no one has been able to ‘strike it lucky.’Hackers Tried Cracking The 7th Largest Bitcoin Wallet In The WorldAccording to cybersecurity expert Alon Gal, who goes by the handle ‘UnderTheBreach on Twitter, hackers have been trying to break open a bitcoin wallet holding around $720 million worth of BTC (considering today’s rates). However, Gal reported that no one has posted any success regarding the same.Get this – there is a Bitcoin wallet with 69,000

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Opinion: Can Uniswap’s UNI Break Into the Top 10 Cryptocurrency Token Rankings?

September 19, 2020

The launch of Uniswap’s governance token UNI caught the cryptocurrency market left, right, and center. Some folks who received the airdrop for being a loyal Uniswap user before September 1, dumped it on the market to avail their free helicopter money. Some held on.Nonetheless, UNI got listed on Coinbase Pro, Binance and it’s price shot through the roof. It’s now on number 32 as per CoinGecko. But can it break into the top 10?UNI Token Price Pumps, Dumps Then Again PumpsAs reported by CryptoPotato, the listing of UNI on Coinbase and Binance led to a massive pump in the token’s price. UNI surged 300 percent from $1 to $4 before dropping to the lower $2 levels later in the day.Then, the token went on a rampage and reached a high of just shy of $9 before retracing to where it’s currently

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Worth Over $1 Billion: Tokenized Bitcoins on Ethereum Tops 100,000

September 18, 2020

Bitcoins are being tokenized at a rapid rate for use on the Ethereum blockchain. Just ten days back, BTC supply’s on the world’s largest smart contract development platform was 73,000. Now that number has hit 100,000. Consequentially, the valuation of Bitcoin’s supply on Ethereum has topped $1 billion.Bitcoin Supply On Ethereum Tops 100,000As per data from Dune Analytics, a free Ethereum analytics provider, the tokenized bitcoin number on the second-largest blockchain network has hit the 100,000 mark. This corresponds to ~0.5 percent of the total BTC supply. As a result, bitcoin on Ethereum supply valuation has topped $1 billion.Wrapped BTC (WBTC) and RenBTC rule the Bitcoin market on Ethereum with token circulations clocking almost 70,000 and 20,000, respectively.Wrapped BTC and RenBTC

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Yield Farming Can Be Risky: Ask This Guy Who Lost $5000 Overnight

September 16, 2020

They say crypto’s biggest appeal lies in how fast one can acquire ‘Lambos,’ fly ‘to the moon’ and get their ‘numbers to go up.’ The Lambo aspect is still relevant as folks are making insane money day in and day out. The other two, not so much.Although traders still bet on prices of Bitcoin, Ethereum (ETH), and other crypto assets, cryptocurrency trading or investing is not the set method for generating humongous wealth presently. DeFi’s yield farming has taken the centre stage in the quest to mint ‘millions in a jiffy.’ But as good as it sounds, gaping holes in the farming landscape itself can gobble up yields in a matter of just a few moments.That’s precisely what happened with this DeFi yield farmer who set out to ride the farming hype and score a fortune. Unfortunately, he ended up

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DeFi Protocol bZx Hacked Again: $8 Million Worth of ETH, LINK, Stablecoins Drained (Updated)

September 14, 2020

In yet another jolt to the decentralized finance (DeFi) community, margin, and leverage-based lending and trading platform, bZx became the target of another hack. In the hack, which was much bigger than the previous attacks, hackers made away with $8 million worth of cryptocurrencies.bZx Hackers Deal 8 Times More Damage To The DeFi Protocol This TimeDeFi lending protocol bZx was attacked again. This time hackers drained a little more over $8 million worth of cryptocurrencies leveraging a duplication bug that enabled them to make away with 219,199.66 LINK, 4,502.70 ETH, 1,756,351.27 USDT, 1,412,048.48 USDC, 667,988.62 DAI.bZx team member Anton Bukov shared a thread on Twitter, in which he admitted that a faulty line of code in the smart contract led to hackers initiating a series of iToken

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The IRS Will Pay $625,000 to Crack Monero and Bitcoin’s Lightning Network

September 11, 2020

The Internal Revenue Service (IRS) wants in on activities happening on Monero and Bitcoin’s Lightning Network. That’s why the Federal organization is inviting applications with demonstrated working prototypes that can break into the privacy coin network and trace transactions on BTC’s layer two chain. IRS will offer $625,000 for the same.IRS Will Fund Monero, And Bitcoin Lightning Network Cracking PrototypeIn an announcement dated September 4, the Internal Revenue Service, Criminal Investigation (IRS-CI), the largest Federal law enforcement agency in the United States Department of the Treasury, has put out a bounty contract for a working prototype that can break into the Monero and Bitcoin’s Lightning network.The agency will accept applications until September 16 and will dish out a total

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Bitcoin Will Shrug Off September’s Crash by Rallying up Higher, Kraken Reports

September 9, 2020

Bitcoin and cryptocurrency exchange Kraken says that the drop in BTC’s volatility is not the end of the story. Historical observations suggest that after losing gains and remaining lifeless on the trading front, Bitcoin will galvanize into action soon, to end the year on an explosive note.Despite September Crash, Kraken Bitcoin Volatility Report Has Optimism Written All Over ItA few hours ago, cryptocurrency exchange heavyweight released its August 2020 Bitcoin volatility report. As per the report’s data, the latest BTC price decline is nothing to be worried about as historically (over 9 years), September has been the worst-performing month for the top cryptocurrency.🤔 Did you know?September is #Bitcoin‘s worst performing month, with an average return of -7%.https://t.co/fAaXgFL2V7

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Around 73,000 Tokenized Bitcoins Worth $750 Million Circulating On Ethereum

September 8, 2020

The total USD value locked in DeFi may have taken a hit after topping at $9.5 billion. But that hasn’t stopped the proliferation of tokenized Bitcoin tokens on the Ethereum blockchain.Data shows that the ‘BTC on Ethereum’ number has now gone up to a little over 72,000. That implies that around $750 million worth of Bitcoin is doing rounds on Ethereum.‘BTC on Ethereum’ Number Going up ExponentiallyAccording to data published by Elias Simos on the on-chain analytics platform, Dune Analytics, Bitcoins circulating on Ethereum has surged past the 70,000 mark. The latest statistics, as shared by Simos, show that 72,944 synthetic BTC tokens now exist on the DeFi spawning platform.Wrapped BTC (WBTC) and RenBTC have the lion’s share of the Bitcoin market on Ethereum with circulations clocking

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If History Repeats, Bitcoin Patterns The Same 50% Crash as March 2020

September 7, 2020

After a freefall that led to an almost $2000 drop, Bitcoin’s price is showing signs of stability. From a March vs. September BTC price action comparison chart, however, it’s possible that the pain is just beginning.Why Did Bitcoin Price Crash Last Week?Several possible reasons can be attributed to Bitcoin’s near 20 percent crash. Miner selloff is one of the strongest possibilities, as suggested by CryptoQuant. After the price drop, the on-chain/data provider shared statistics that pointed to big Bitcoin miners like Poolin, Slush, etc. offloading their BTC stash for cash on exchanges:Miners are moving unusually large amounts of #BTC since yesterday. #Poolin, #Slush, #HaoBTC have taken the bitcoins out of the mining wallets and sent some to the exchange.https://t.co/NcLmXvZmOD

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