The price of Compound (COMP) tokens is seeing a massive surge amid a manic week for the decentralized finance (DeFi) project, which included a listing announcement by U.S. crypto exchange giant Coinbase.Compound TVL Crosses $400M TVL MilestoneWith the number of lenders on the Compound protocol increasing rapidly, data from DeFiPulse shows the project crossing the $400M mark in total value locked (TVL). Barely a week ago, this figure stood at $100 million. Compound becomes the second lending...
Read More »Chainalysis: Institutional Players Are Very Busy With Crypto
Well, well, well… It looks like after years of needless fear and concern, institutional players have a stronger presence in the crypto space than we originally thought.Institutional Players Need to Work Hard for Crypto to GrowIt has often been stated that institutional players are necessary if the cryptocurrency space is going to ever serve as a legitimate and mainstream financial marketplace. For crypto to ever rank amongst cash and credit cards, professional traders must have a hand in how...
Read More »Blockchain-Based COVID App Proves Quite Popular
Civic Technologies – a startup based in San Francisco – is developing a new blockchain application that will allow people to prove to their employees that they don’t have COVID-19.Civic Technologies Looks to Blockchain to Battle CoronavirusCOVID-19 – or the coronavirus, as its more commonly called – first came about in December of 2019. Developed allegedly in a Chinese lab, the virus spread like mad throughout several regions of the world including Europe, the United States and other parts of...
Read More »Chris Giancarlo: XRP Shouldn’t Be Regulated by the SEC
A former chairman of the Commodity Futures Trading Commission – Chris Giancarlo – has come to the defense of Ripple and claimed that it is not a security.Chris Giancarlo: Leave XRP AloneRipple has been at the center of a controversial class-action lawsuit for many months, now. Several early investors claim that the company has lied about the currency’s status as a non-security. One investor has even gone so far as to claim that Ripple is a never-ending initial coin offering (ICO).To be fair,...
Read More »Bitcoin Price Stuck While NASDAQ Breaks All-Time Highs: The Weekly Crypto Report
The last seven days were relatively calm when it comes to Bitcoin as it marks a slight decrease of less than 1%. However, on June 15th, the price dropped to about $9,000, but it managed to recover very quickly and has traded in a narrow range since. Overall retail interest in the asset seems to be decreasing as Bitcoin recorded the lowest number of searches in the past three months, data from Google Trends revealed. The asset remains mostly correlated with legacy markets, but the latter...
Read More »VeChain Price Analysis: Bull Run Paused as VET Continues to Stagnate Around $0.0085
After a slight weekly rebound, VET resumed selling pressure with 4% losses over the last 24-hours.A slip beneath the monthly low could cause more troubles for the 28th ranked crypto by market cap.The market is currently looking bearish on the hourly time frame.VET/USD: VeChain Trades At Crucial Support LineKey Resistance Levels: $0.0095, $0.0107, $0.011Key Support Levels: $0.0076, $0.0066, $0.0060VET/USD. Source: TradingVIewVeChain has lost a major chunk of its value over the last seven days...
Read More »Crypto Price Analysis & Overview June 19th: Bitcoin, Ethereum, Ripple, Crypto.com, and Stellar
BitcoinBitcoin saw a period of sideways movement over the past week as it dropped by a small 0.5%. The cryptocurrency has pretty much traded between $9,600 and $9,200 over the past seven days as it remains above the rising trend line support.So long as BTC can continue above this rising trend line, the bullish trend would be intact.Looking ahead, if the buyers push above $9,600, the first two levels of resistance lie at $9,815 and $10,000. Above this, additional resistance is found at $10,226...
Read More »Wirecard (WDI) Stocks Plunge 80% Following Cash Shortfall: Crypto.com’s Visa Card Unaffected
Debit card provider and payment processor Wirecard AG, whose subsidiary issues visa debit cards for both Crypto.com and TenX, has failed to locate over $2 billion of lost assets.The company’s stock prices continue plunging after the two banks supposedly holding the massive amount denied any business relationship with the German payments processor.Wirecard AG In TroubleThe German-based firm revealed a worrisome issue on Thursday as the company’s decade-long auditor Ernst & Young was unable...
Read More »Is It a Good Time to Buy Bitcoin? At Least Judging by This Technical Indicator
According to a popular metric, Bitcoin has dropped back in a “buy zone.” Historically, it has been an attractive point for investors to accumulate as a price surge has followed on most occasions.Bitcoin’s PM Indicator Drops To 0.5The Puell Multiple is a metric calculated by dividing the daily issuance value of bitcoins in USD by the 365-day moving average of the daily issuance value. Daily issuance is the number of freshly minted coins added to the ecosystem by miners after receiving them as...
Read More »CZ Highlights Anti-Addiction Notice After a 20-Year Old Committed Suicide For Losing $730K On Robinhood
Changpeng Zhao, the CEO of the world’s leading cryptocurrency exchange, Binance, recently highlighted the importance of anti-addiction notices when trading high-risk products such as options.This comes days after a 20-year old tragically took his life after seeing a $730,000 negative balance on the popular retail trading app Robinhood.A Tragic StoryOn June 12th, 2020, Alex E. Kearns, a 20-year old student at the University of Nebraska, committed suicide. His parents found a note on his...
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