Markets

Leading DeFi tokens that make up the Binance DEFI composite index includes Chainlink (LINK), Maker (MKR), 0x (ZRX), Band Protocol (BAND), Kava.io (KAVA), Kyber Network (KNC), Compound (COMP) and Aave (LEND).Major cryptocurrency exchange Binance has announced it will be launching a DEFI/USDT composite index perpetual contract, billed to commence trading on August 28 at pixel time 7:00 AM (UTC). The Decentralized Finance composite index will be yet another of Binance’s recent innovations to own...

Xiaomi more than doubled net income to $716 million in the Q2, beating the highest analyst estimate. Sales increased by 3.1% to 53.5 billion yuan. Xiaomi’s overseas business has recovered to pre-COVID-19 levels.Chinese electronics company Xiaomi Corporation (HKG: 1810) announced revenue of $7.77 billion for the Q2 that ended in June this year. That represents a rise of 3.1% since the same period last year and more than a 7.7% growth during the previous quarter as the Chinese smartphone maker...

The cryptocurrency market continues to correct.Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos.On one hand, the Bitcoin chart is already showing some ideas in favor of further descending movement but it’s too early to talk about a proper decline as long as the instrument is trading above the support area at $10,500. Moreover, such cryptocurrencies as...

Following the rejection from the $12,500 resistance level on August 17th, Bitcoin has endured a downtrend that has seen it lose most of the gains incurred throughout the first half of the month.The increasing selling pressure behind it has taken many investors by surprise since some of the lower cap altcoins have entered full-blown bull rallies. While BTC continues flirting with the idea of a steeper correction, its price continues to bleed.Such market behavior was visible on August 25th as...

DeFi tokens continue to flood the markets as developers are minting new coins and listing them on Uniswap every day.While this might present an earning opportunity for some, the number of the so-called ‘rug pulls’ is also on the rise. Investors need to be extremely careful and selective when it comes to the tokens they put their money into.Rug Pulls: The Plague of UniswapUniswap is a protocol that allows buyers and sellers to swap ERC20 tokens without the use of an exchange or order book. It...

Bitcoin price declined heavily below the $11,800 and $11,500 support levels.The price traded as low as $11,101 and it is now well below the 55 SMA (H4).There is a key bearish trend line forming with resistance near $11,600 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).The pair remains at a risk of more downsides as long as it is below the $11,500 level.Bitcoin price is currently trading in a bearish zone below $11,500 against the US Dollar. BTC could extend its losses...

A brief glimpse at the Bitcoin price chart over the past decade clearly shows that we are in what appears to be the early days of the fourth bull market cycle. The asset has experienced multiple boom-and-bust cycles in its brief history, and three can be clearly identified with tops and bottoms.600 Days Into Current CycleIn a recent report by CoinMetrics, these cycles have been overlaid in an effort to attempt estimation at the length of the current cycle.The current cycle began when Bitcoin...

The cryptocurrency market has lost $20 billion from its market capitalization, as the majority of cryptos in the red over the past 24 hours. Bitcoin’s current weekly low is at $11,100, while Ethereum reached the target of $370 as predicted by CryptoPotato.The giant blockchain, Polkadot, is trading around $5.40 after the DOT token was added to major exchanges earlier this week at a price of $3. DOT is recording a fantastic ROI of more than 80% over the past four days of trading. Polkadot is...

Today, bitcoin is trading for roughly $11,700. This is slightly above where it was just 24 hours ago, but the big question that’s likely on the mind of virtually every crypto trader out there is, “When is $12K going to show up again?”Is Bitcoin Planning to Move Up Anytime Soon?Not too long ago, the world’s number one cryptocurrency by market cap rose all the way to $12,400 in what was easily the biggest spike the asset had seen in well over a year. However, the surge didn’t last long, which...

Data from popular cryptocurrency monitoring firm reveals that institutional investors had a record-breaking number of leveraged short positions in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME).While this might imply a lot of things, it appears that smart money is leaning toward bearish developments in the market. Of course, there’s always the possibility of a short squeeze.Institutional Bitcoin Shorts on the RiseBitcoin’s price lost about $1,200 in the last seven days....