DeFi Token Rally Pushes Aave (LEND), (SNX) Market Cap Above Maker (MKR)

Decentralized Finance (DeFi) tokens continue to make drastic moves on the price charts, compensating for Bitcoin’s low volatility which has recently hit a three year high. Earlier today, Aave (LEND) and Synthetix Network (SNX) token briefly surpassed MakerDAO’s (MKR) token as each rallied to $0.375 and $4.09 respectively.  The ‘flippening’ was short-lived and MKR has now reclaimed its position above LEND, SNX and Compound (COMP) and currently sits at number 28 on Coinmarketcap with a market capitalization of $453 million.  The switch up likely occurred as LEND price corrected sharply…

This Model Shows Bitcoin’s Next Big Breakout is Likely to Favor Bulls

Bitcoin’s prolonged bout of sideways trading is bound to end eventually, and all the signs are suggesting that the next large trend-defining movement could take place in the coming days or weeks. This recent price action has been driven primarily by a sharp decline seen in BTC’s liquidity and trading volume – both signs of investors’ heightened interest in the altcoin market. Because of this, the cryptocurrency’s trading range has now narrowed to between $9,100 and $9,200. The last time BTC saw volatility levels this low was right before it…

Technicals Anticipate a Correction Ahead of Aave (LEND) After 1,500% Rally

The Ethereum-based peer-to-peer lending platform Aave has been in the spotlight of the cryptocurrency market after the 1,500% price increase it has enjoyed throughout the year. In July alone, LEND skyrocketed nearly 185% to reach a new yearly high of $0.38. This price level is just a few cents below its all-time high of $0.394 that was reached by the end of the 2017 ICO mania.    Aave Skyrockets 185% Throughout July 2020. (Source: TradingView) Given the substantial gains that Aave has posted, different metrics anticipate that it is reaching an…

As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along

The U.S. economy is experiencing a shortage of coins. With this in mind, the Community State Bank, or CSB, of Milwaukee is offering a five percent premium to customers who turn in coins to one of its locations. Meanwhile Bitcoin (BTC) is not expected to run out of Satoshis anytime soon. CSB announcing “Crazy time”. Source:  CSB Site. COVID-19 is to blame This issue apparently stems from further complications caused by the COVID-19 pandemic. Reasons given include that the U.S. Mint reduced coinage to protect its employees, and that U.S.…

$10.9 Billion Bitcoin Stash Proves Satoshi Is Still the Biggest Whale

A recent report by blockchain tracking and analytics provider, Whale Alert, revealed that the miner known as Patoshi mined over $10.9 billion or 1,125,150 BTC during Bitcoin’s infancy in order to protect the network from a 51% attack.  Patoshi has been confirmed to be the anonymous Bitcoin creator known as Satoshi and the early blocks mined by Patoshi also include the first BTC transaction to Hall Finney, a well known developer and early Bitcoin contributor. Whale Alert was able to come to this conclusion by reviewing previous research conducted by…

Global Banks Reportedly Limit Service in Hong Kong for Political Reasons

Major international banks like Credit Suisse and HSBC are reportedly scrutinizing their Hong Kong clients amid the ongoing protests over China-backed national security law. According to a July 19 report by Reuters, global banks including Credit Suisse, HSBC, Julius Baer, and UBS are now screening their clients in Hong Kong on potential ties to the city’s pro-democracy movement. Social media spies Citing a group of anonymous people familiar with the matter, the report says that the banks are scanning clients’ records for political and government ties in order to impose…

Paxos Beats Out Coinbase to Become PayPal’s Bitcoin Custodian

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Stellar (XLM) Could “Launch” Higher Despite Flashing Some Disturbing Signs

Stellar (XLM) has seen some strong momentum throughout the past few weeks, but this is starting to show some signs of faltering as its buyers fail to surmount a crucial resistance region that it has tested multiple times. Its current signs of weakness may not be emblematic of its near-term outlook, however, as one analyst is noting that a variety of factors suggest that it could be gearing up for a fresh leg higher. This trader – who predicted XLM’s last 45% rally – is now noting that he expects…

China Adds a New City to Their Fintech Pilot Initiative

The People’s Bank of China has officially added Chengdu, the capital of China’s Sichuan province, to the list of regions carrying out fintech innovation supervision pilots, according to local news on July 20. Industry insiders believe that Chengdu’s official approval will further accelerate fintech innovation and actively help Chengdu build a regional fintech center with international influence. The city is reportedly focusing on big data, artificial intelligence, cloud computing, and blockchain technologies. It is accelerating the construction of local financial regulatory sandboxes to enhance local financial regulatory capabilities and service…

Bitcoin Price Holds Again Over Weekly Cloud, But There’s A Shocking Twist

Bitcoin price may be trading sideways, but it continues to hold above a key level that in the past led to over 5,000% returns. BTCUSD has now held for its seventh consecutive weekly close above the Ichimoku cloud, but there’s a shocking twist coming that could shake up the sideways trend. Bitcoin Price Closes Seventh Weekly Candle Above Ichimoku Cloud The leading cryptocurrency by market cap has been consolidating below resistance for months now, preparing for its next major move. A rejection could potentially expose Bitcoin price to setting a…