Markets

Undoubtedly, 2020 will go down in history as the year Decentralized Finance (DeFi) has started to assert its control over the cryptocurrency industry. This development has been underscored by the rise of Compound as the leading DeFi lending platform, surpassing MakerDAO in value locked. Looking at the DeFi market as a whole, the total value locked in DeFi smart contracts rose almost fourfold since the turn of the year.Next to COMP, many other DeFi tokens such as Aave (LEND), Kyber Network...

Bitcoin price is currently gaining traction above the $9,400 and $9,440 resistance levels.A new monthly high is formed near $9,567 and the price is now above the 55 simple moving average (4-hours).There was a break above two key bearish trend lines near $9,200 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).The pair might correct lower in the short-term, but dips remain well supported near $9,420.Bitcoin price is trading in a decent uptrend above $9,400 against the US...

It’s been about a week since the incident occurred, and yet news outlets still can’t seem to get enough of the Twitter bitcoin hack that took place last Wednesday.The Twitter BTC Hack Just Gets Bigger and BiggerThe incident is one of the most profound and notorious in bitcoin’s short, yet significant history. Several high-profile Twitter accounts belonging to politicians, celebrities and musicians such as Bill Gates, Barack Obama, Joe Biden, Kanye West and Elon Musk were hijacked by cyber...

National banks and federal saving associations can now offer crypto custody services to customers following approval from regulators in the country.OCC Okays Crypto Custody Operations for US Federal BanksAccording to a letter issued by the Office of the Comptroller of the Currency (OCC) on Wednesday, U.S. Federal banks can now offer crypto custody services. The decision follows last month’s request by the OCC for public input on the matter.As part of the letter, the OCC explained the...

Open interest for Bitcoin Futures on major derivatives crypto exchange BitMEX reached an all-time-high (ATH) as it crossed the $1 billion milestone. The record high happened for the first time since the crypto market crashed back in March 2020.Bitcoin Futures Open Interest on BitMEX at 4-Month HighAccording to data from crypto derivatives market data provider Skew, the open interest on Bitcoin Futures on BitMEX crossed the $1B landmark for the first time since Black Thursday. Across the...

There is a lot of worry and concern surrounding bitcoin’s price as of late. While the asset has done well these past two months and maintained its position above the $9,000 mark, some analysts and industry leaders – such as Changpeng Zhao, the chief executive of Binance, the world’s largest and most popular cryptocurrency exchange by daily volume trading – are warning that BTC’s price is in a shaky position, and in danger of enduring another crash like the one it experienced in March of this...

AVA Labs, the team behind Avalanche, an open-source platform for launching decentralized applications in a highly-scalable ecosystem, recently raised $42M in a 4.5 hour-long token sale last Wednesday. The sale marks one of the largest ICO’s out of the U.S. since 2017.Avalanche’s Recent Key HiresAVA Labs, founded by Cornell Ph.D.’s and led by Professor Emin Gun Sirer, initially completed a $6M Series A in 2019 backed by Andreessen Horowitz, Initialized Capital, Metastable, Polychain, and angel...

Just in March, Tether (USDT) had a market cap of $5 billion, today it has already reached a $10 billion mark.Digital currency Tether (USDT) has hit a landmark market cap of $10 billion advancing the surge in altcoins. The positive stride has also helped position the ‘United States Dollar backed’ cryptocurrency as the third-largest cryptocurrency to displace XRP following Bitcoin (BTC) and Ethereum (ETH).The announcement was made on Tether’s official Twitter account and it highlights the...

Facebook seems to be the next to join the $1 trillion market cap club. Visa, Tesla, and Berkshire Hathaway are also strong contenders in the race.Despite the persisting coronavirus pandemic affecting most companies’ growth, some companies are close to joining the $1 trillion market cap club. Already, Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)are members of the club. Each of these companies...

The cryptocurrency market was overwhelmed by bulls over the last 24 hours.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.Bitcoin added 2% and was trading close to $9,400. Today, the asset is correcting. At the moment, any somewhat significant impulse is perceived as the start of another mid-term wave. However, this time these expectations may be justified....