Markets

Ripple price is trading nicely above the $0.2900 support zone against the US dollar.The price is currently consolidating below the $0.3080 and $0.3100 resistance levels.There was a break above a major declining channel with resistance near $0.2965 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair is likely to resume its upward move once it clears the $0.3080 and $0.3100 resistance levels.Ripple price is trading in a positive zone above $0.2900 against the US Dollar....

Coinbase – one of the most popular cryptocurrency exchanges in the United States, as well as the world – has announced it will soon begin offering bitcoin and crypto-backed loans for customers to utilize.Coinbase Is Offering Bitcoin-Backed LoansCustomers can take out fiat loans against roughly 30 percent of the bitcoin they already have. While the loans themselves won’t necessarily be in bitcoin, they’ll certainly be backed by the digital asset. Coinbase is now one of the largest exchanges...

The Winklevoss Twins are back in the news. This time, they’re explaining bitcoin and the concept of cryptocurrency to online day trader Dave Portnoy, who founded Barstool Sports and “literally has no idea what bitcoin is.”The Winklevoss Twins Know What to SayThese are the words he said to his cameraman prior to an interview with the Twins. He later asked the man behind the machine, “Do you?” to see if anybody else shared his lack of knowledge on the world’s number one digital currency by...

Bitcoin has made multiple attempts in the past week to break the $12,000 zone, a critical resistance zone before it could go wild, and got rejected every time it did so. Fluctuating between $11,500 and $12,000, bitcoin has injected some modest volatility to the market.With volatility making a comeback, traders flock to futures trading, an instrument that allows traders to earn profits by speculating the price movements. Using the leverage offered by platforms, traders can multiple their...

After some minor fluctuations from $11,750 to nearly $12,000, Bitcoin lowered its volatility level and trading around $11,900. Is BTC getting ready to conquer $12K? We will see.At the same time, most altcoins continue to be volatile again with some massive gains from EOS, Yearn Finance (YFI), and Kava and another all-time high from Chainlink.Chainlink (LINK) At ATH AgainThe altcoin market hasn’t been boring for a long time now, and the past 24 hours reaffirmed it. No words can describe...

A report issued by San Francisco-based cryptocurrency exchange Kraken says that bitcoin’s volatility is at an all-time low, and that the currency could potentially shoot up another 200 percent in the coming months.Kraken Says Bitcoin’s Volatility Is Super LowAt the time of writing, the world’s number one cryptocurrency by market cap has surged into the $11,800 range after spending the last few days trading for approximately $11,500. This marks a $300 surge in just 24 hours. The currency was...

As per the latest statistics, around $8 million was paid as fees to conduct transactions on the Ethereum network. That works out to be approximately 18,300 ETH. What is driving this humongous spike in gas fees? Research shows that it is due to the booming ‘yield farming’ craze.Gas Fees Tops $8 Million Led By Massive Transaction DemandAs per data from Glassnode, transaction fees paid on the Ethereum network topped $8 million recently (read August 13, 2020).This is a new all-time high level for...

Bitcoin went through a significant price surge in the past month, jumping from $9,000 to about $12,000. By heading into five-digit price territory, this 33% increase has many people speculating that the primary cryptocurrency may be too expensive, and the train has left the station.However, looking at Bitcoin’s pre-programmed deflationary mechanism and several macroeconomic factors, the asset’s price may actually be (still) cheap.Before we begin, let’s face some sizing facts. As of writing...

The open interest for CME Bitcoin Futures has surged over 100% over the last month as concerns of inflation drive institutional players to the crypto market. Institutions see BTC as a good hedge while the central banks continue to add more money to the ecosystem.Chicago Mercantile Exchange’s (CME) Bitcoin futures see rising institutional interest as more investors turn towards Bitcoin to hedge potential inflation risks. The CME Bitcoin Futures open interest has topped $800 million making it...

Bitcoin took yet another swing at $12,000 but to no avail so far, while Ethereum continues climbing to $440.Macrodata reaffirms the ongoing bull trend as almost all top 100 digital assets have been in the green in the past three months.Bitcoin Not Yet Conquering $12kAbout three days ago, the primary cryptocurrency was in a bit of a jam as it dipped to $11,100. It began losing its dominance over the market, but the bulls have since regained possession and drove Bitcoin upwards.Their attempt...