Litecoin price traded above the $48.00 and $50.00 resistance levels against the US Dollar.LTC price is currently trading above the $48.50 support level and the 55 simple moving average (4-hours).There is a major bullish trend line forming with support near $48.60 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair is likely to resume its upward move unless it breaks the $48.50 support zone in the near term.Litecoin price is showing positive signs above $48.00 against...
Read More »Bitcoin Accumulation Building With 14% of Supply Currently Held
The research added that around 14% of the total supply is currently held in accumulation addresses. The findings by on-chain analytics firm Glassnode report that there has been a steady up trend in Bitcoin accumulation since the beginning of 2019. The chart overlays price action and the two do not appear to be correlated as prices have been sideways on that long time frame. The balance in accumulation addresses fell sharply during the massive bull run in 2017 as long term...
Read More »DeFi Pulse Launches A Risk Assessment Tool: Aave And Compound Graded As Very Safe
The popular decentralized finance tracking resource DeFi Pulse has introduced a new tool to measure risks within the DeFi ecosystem. Developed in collaboration with the digital asset modeling platform Gauntlet, the instrument has already graded two “very safe” DeFi protocols – Aave and Compound. The Launch Of DeFi Pulse Economic Safety Grade The DeFi trend exploded in popularity in recent months, with numerous projects emerging offering alluring investment opportunities for...
Read More »Bitcoin Price Analysis: BTC Breaks Vital Short-term Support, $11K Incoming?
Despite a promising start to the week, the bullish Bitcoin traders have struggled to maintain momentum. In the last few hours, bears have successfully overcome the intra-week support (white line), which was helping to keep BTC in an uptrend, and are now threatening to drive prices back towards the 0.5 Fibonacci level at $11,150. Looking at the 4-hour chart, we can see that the decline was foreshadowed by a significant divergence between the RSI and the price action (yellow...
Read More »Elon Musk Says Tesla Did Not Install a Bitcoin ATM
Elon Musk – the CEO of both Tesla and SpaceX – is denying that he houses a bitcoin ATM near his Gigafactory in Nevada.Could Elon Musk Just Be in Denial?Things started out last Sunday when Will Reeves – the CEO of crypto payments firm Fold – announced on Twitter that a Liberty X bitcoin ATM had been spotted near Tesla’s Nevada-based operations. The tweet also contained a Google Maps image. Liberty X is a manufacturer and distributor of bitcoin and crypto-based ATMs.However, Musk was quick to...
Read More »Brainwallet Users Beware: Hackers Scan Bitcoin’s Network 24/7 for Popular Passphrases
Brainwallets, especially those generated with passphrases from popular culture references, might not be as safe as previously imagined. Pop Culture References Make for Vulnerable Keys According to a report published by BitMEX Research on Oct. 13, brainwallets might be easy to crack with hackers purportedly setting up servers to crawl the blockchain in search of victims. A brainwallet or “mind wallet,” as the name implies, refers to storing Bitcoin (BTC) in a user’s own brain...
Read More »Chainalysis Is Helping to Track Monero-Related Crime
According to Chainalysis, the revenue its taking in has tripled in recent months thanks to many public sectors looking to track blockchain and cryptocurrency activity.Chainalysis Has Seen Its Horizons GrowIn particular, the company is working with the Internal Revenue Service (IRS) to track a privacy-focused cryptocurrency known as Monero, which has been the object of much controversy over the years.Monero, for example, is often involved in crypto jacking operations, in which a hacker obtains...
Read More »World Economic Forum Wants to Study Blockchain and Crypto
The World Economic Forum (WEF) has collaborated with the Global Blockchain Business Council (GBBC) to launch a new initiative assessing the state of blockchain and cryptocurrencies. Dubbed the Global Standards Mapping Initiative (GSMI), it will determine the industry landscape by examining a few distinctive areas. WEF Launches GSMI To Examine Blockchain State According to the announcement from earlier today, the GSMI is the brainchild of the WEF and the GBBC. Other prominent...
Read More »Stone Ridge Buys a Whole Lot of Bitcoin
We continue to see many institutions investing in crypto. Bitcoin has become the new “safe haven” for many of these companies. MicroStrategy has invested more than $400 million in bitcoin. Square has purchased $50 million worth of the asset, and now Stone Ridge Asset Management has announced an investment in bitcoin worth approximately $115 million at the time of writing.Stone Ridge Gets Its Hands on BTCMany analysts have claimed that without institutional investors, bitcoin and crypto are...
Read More »With Over $720 Million of Bitcoin Inflows, Grayscale Marks Best Quarter Yet
The leading digital asset manager, Grayscale Investments, continues with its growth after registering its third consecutive record-breaking quarter with over $1 billion of inflows. Somewhat expectedly, the Bitcoin Trust remained the most widely chosen company product. $1 Billion Entered Grayscale In Q3 2020 Grayscale released its Q3 2020 report earlier, noting that the total investments into company products in those three months alone accounted for $1.05 billion. Adding the...
Read More »