Chainlink is “On the Horizon” of Making a Massive Push Higher

Chainlink has seen some mixed price action in recent weeks, with the cryptocurrency’s price plunging as low as $10.00 and facing another rejection around $12.00. This price action has primarily favored sellers, as the inability for it to make a sustained push off of its support around $10.00 seems to point to some underlying weakness amongst buyers. It may also suggest that the recent downtrend has done serious damage to its mid-term market structure. That being said, the strong base of support it has been establishing throughout its recent price…

Uniswap’s UNI Holds Steady Despite Sell-Side Pressure; What Analysts are Saying

Uniswap – the decentralized crypto exchange of choice amongst traders and investors – sent shockwaves throughout the market with the launch of their native governance token called UNI. The launch of UNI was unlike any other seen before because everyone who had used the platform to trade – or contributed to its liquidity – prior to September first could receive a minimum of 400 UNI tokens. Naturally, this excited platform users who received a free $400-$1,600 USD, with the token’s price fluctuating between $1 and $4 following its listing and…

Bitcoin Birch says no retail crypto-wide bull run likely for rest of 2020

Crypto prices may still be weighed down by a difficult global economic atmosphere, according to Joel Birch, co-founder of automated crypto investing platform Stacked.  “I don’t necessarily think that 2020 is going to be the year of some type of major retail bull run, largely due to the fact that the global economy still lingers over this industry, just like other financial markets,” the personality, also known as “Bitcoin Birch” on Twitter, told Cointelegraph in an interview. Birch, however, said he maintains a fairly positive slant in terms of upward…

Huawei Cloud’s blockchain service just got its first major update in two years

Huawei announced an update for it’s blockchain-based cloud service, known as Blockchain Service 2.0, or BCS 2.0, during a recent industry summit. It appears that the platform’s upcoming enhancement will serve as its first major update since 2018.  According to Fangming Hong, President of Huawei Cloud China, Feng Xu, President of Huawei cloud application platform product line, and other top brass from Huawei’s management team, the upgrade’s main goal is to scale the project for commercial applications.  The new and improved platform will reportedly meet performance requirements of 50000 transactions…

Ethereum Fees Spike After Uniswap’s UNI Token Launch

After announcing the launch of its new governance token, Uniswap became the most valuable DeFi projects within hours. The decentralized exchange launched its token last night, catching the entire DeFi community off-guard—a move that resulted in major problems for the Ethereum network. Uniswap Launch Clogs Up Ethereum The rush to claim the Uniswap tokens allocated to users caused massive congestion on the Ethereum network. When the anomalous transaction fees that have occurred throughout the year were excluded from the calculation, last night’s spike represented a new record high for transaction…

Caitlin Long and David Kinitsky on crypto’s big win with Kraken Financial bank charter

San Francisco-based crypto exchange Kraken has become the first cryptocurrency business to receive a charter to operate as a bank in the United States. When seen as part of a larger-scale shift in regulatory attitudes that may help to bring crypto into the mainstream, the repercussions could be even more significant. Kraken Financial, the firm’s new bank, is headquartered in Cheyenne and got the green light from Wyoming on Sept. 16 as a special-purpose depository institution (SPDI) — a bank that can both receive deposits and custody assets. “For Wyoming,…

‘Alt-season’ abruptly ends as Bitcoin dominance rises near quarterly close

As the price of Bitcoin (BTC) soared above $11,000 on Sept. 16, the altcoin market suffered mightily. Some analysts believe that profits from the extended altcoin and decentralized finance (DeFi) rally may have cycled into BTC. After major bull cycles or the so-called “altseason”,the dominance index of Bitcoin tends to recover. When it does, it often leads BTC to outperform many altcoins in the global market. The dominance index of Bitcoin. Source: TradingView.com In the past two weeks, Bitcoin’s dominance has seen a double bottom, rebounding from 59% to 61%.…

The Uniswap effect is leading to 208% gains on average for certain tokens

A report from crypto data provider, Cross Angle, claims that tokens which first gain traction on Uniswap have consistently provided 208% returns on average once listed by major centralized exchanges. In the past, much had been said about the “Coinbase effect” and “Binance effect”, in which a token’s price allegedly experiences fast appreciation once listed by either of the former exchanges. However, this time, it is purportedly a combination of listings that yields results. The report’s authors examined a number of tokens that landed on a major centralized exchange after having already…

How The Xi Pump of 2019 Backs Up Bitcoin Bearish Retest Theory

Several signs now suggest that Bitcoin’s recent pump to $11,000 that failed to hold could have been a bearish retest and rejection from support turned resistance. And while a bullish retest taking place at the same time has buyers confident, price action closely resembling last year’s Xi pump could be bad for the cryptocurrency. Bitcoin Bearish Retest Theory Gains Ground Due To Comparison With 2019 The recent possible “top” at the 2020 high of $12,400 shares many parallels with the top in 2019 when Bitcoin was rejected from $13,800. For…

OKEx goes all in on Uniswap’s new token amid soaring DeFi fees

Crypto exchange OKEx added Uniswap’s new UNI token to the array of assets offered on its platform, in addition to trading products around the asset. detailed“Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products for this hot DeFi token, including margin, swap trading, coin-margined perpetual swap and Savings, making OKEx the first exchange to offer UNI derivatives,” OKEx detailed in a statement Thursday.  Uniswap, a decentralized exchange, launched its own Ethereum-based token, UNI, on Wednesday, dispersing the asset…