Crypto news

Many banks are beginning to issue their own digital currencies. It can be implied that the likes of Libra may have caused these banks to look into establishing such assets, but according to a new report, bitcoin is the real reason many of these institutions have taken the next steps.Bitcoin May Have Given Birth to Many Bank-Issued Digital CurrenciesLibra is a scary currency for most banks in that it’s looking to establish itself as a global currency that virtually every country can gain...

In its latest report regarding Bitcoin, the leading digital asset management firm Grayscale has outlined the growing HODLing mentality from BTC investors, rather than so-called speculators.The company also asserted that store-of-value investment tools such as BTC are becoming more attractive to institutional investors, which could prompt a massive price surge soon.Bitcoin’s Growing MetricsGrayscale, which recently launched a successful commercial campaign highlighting Bitcoin’s merits across...

Central banks are now consistently looking to release their own centralized digital currencies. While these assets are nothing like bitcoin – the latter gives financial independence to its users, while the former currencies are controlled by individual firms – it’s likely that these coins will all get in the way of each other, and that the likes of both bitcoin and Facebook’s Libra will be competing head to head with many of these bank-issued currencies.Libra Is Scary to Most BanksOne of the...

Ethereum dropped by a total of 9% over the past week as it breaks beneath $400, currently marking $380 – $382 as a critical defensive wall before a further downside price action.Despite this price decline, Ethereum remains mid-term bullish within the August trading range of $438 and $363.Against Bitcoin, Ethereum penetrated beneath the March 2019 support as it trades at 0.0334 BTC.ETH/USD – The Fight to Reclaim $400Key Support Levels: $382, $375, $363, $340.Key Resistance Levels: $400, $408,...

The cryptocurrency field is going through different phases every year, and that’s only logical. As the industry progresses, more people get involved in it, bringing new solutions and technology to the table.In 2020, it’s safe to say that the hottest crypto trend is Decentralized Finance (DeFi). In a matter of months, this became the most widely discussed topic within the cryptocurrency community and rightfully so.Quick NavigationNew DeFi projects are appearing daily, and it does bring a...

Bitcoin and most large-cap altcoins have recovered from yesterday’s price dives. However, most altcoins are still far from their last week’s all-time highs.Bitcoin Back To $11,600The largest cryptocurrency by market cap dipped to the $11,400 support following another unsuccessful attempt to reclaim $12,000. The nosedive seemed somewhat steep, and speculations rose that BTC may be aiming to close a CME gap at $9,600.BTCUSD. Source: TradingViewAs CryptoPotato reported, Bitcoin futures...

Grayscale Investments has announced that the price of bitcoin could potentially explode in the coming months given how much bitcoin is mimicking its 2016 behavior.Grayscale: Expect Bitcoin to Be More BullishIn a recent report, the institutional crypto trading platform writes:The current bitcoin market structure parallels that of early 2016 before [bitcoin] began its historic bull run. Amidst unprecedented monetary and fiscal stimulus, investors are searching for ways to protect against an...

It looks like the bitcoin and crypto presence in Africa is growing like crazy.Africa and Bitcoin Are Becoming the Best of FriendsTo be fair, Africa has always loved its bitcoin, but as of late, the continent is proving to be a hotspot for bitcoin adoption, and there are more companies based on bitcoin and crypto activity that appear to be popping up all over the place.One such company is Yellow Card, a bitcoin-buying firm based in the country of Nigeria. Recently, the firm landed as much as...

It looks like a former Uber exec is in a spot of trouble. Joseph Sullivan – the former Chief Security Officer at Uber – has been charged with paying more than $100,000 in bitcoin to hide a data breach of the company that occurred in 2016 rather than coming forward and explaining what had happened to the right authorities.Questions Regarding an Uber Exec’s BehaviorThe attack may have compromised millions of users and drivers. Sullivan has been charged with obstruction of justice and attempting...

Bitcoin futures aggregated open interest hit the $5 billion mark yesterday, but the overall trend seems to be declining.This points to a possibility that BTC derivative traders are quitting the market owing to lackluster price action. Will a gap at the $9700 price level result in a proliferation of short positions?Bitcoin Futures Open Interest Drops Post Topping $5 BillionData from UK based market analytics firm Skew shows that the aggregated open interest in Bitcoin futures trading hit an...