MicroStrategy CEO seems to embrace Bitcoin maximalism

MicroStrategy’s decision to use Bitcoin as its primary reserve currency has Michael Saylor seemingly favoring the asset over altcoins. In a Sept. 20 tweet, the business intelligence company’s CEO stated that he considers Bitcoin (BTC) to be a crypto asset network, unlike tokens like Ethereum (ETH) or stablecoins, which he referred to as “crypto-application networks.” Posting a chart from analytics site Bitcoin Dominance, the CEO claimed that the coin’s dominance “has advanced from a low of 71.05% on December 20, 2017 to 93.57% today.” When considering network dominance in the…

Chainlink Reaches an “Accumulation Zone” as Potential Long-Term Bottom Forms

Chainlink has been seeing intense weakness throughout the past few weeks, which has come about following a period of macro strength that allowed its price to rally up to highs of $20.00. The cryptocurrency has since posted enormous losses that have erased months of upside, leading some analysts to now anticipate further losses in the near-term. LINK is currently in the process of breaking below its macro support at $10.00, with bears beginning to garner full control of its near-term outlook. One analyst is noting that the $8.00 to $9.00…

US Space Force taps blockchain firm Xage Security for data protection

The recently created United States Space Force, or USSF, and the U.S. Air Force Research Lab has chosen blockchain firm Xage Security to develop data security systems. In a statement, Xage Security said it was awarded a contract to provide end-to-end data protection for the USSF. The company will employ its blockchain-based Xage Security Fabric solution for the project. The company said Xage Security Fabric has a unified platform that can secure all systems and removes single points of entry so hackers can’t wipe information. It will allow the USSF…

Despite 10% Bounce From Lows, Bitcoin Has One Key Level to Cross

Bitcoin has bounced over 10% from the lows set two weeks ago at around $9,800. The cryptocurrency, though, still has a crucial level to move above to confirm that a full-blown bullish reversal is in the works. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Needs to Surmount This Pivotal Level to Confirm Upside According to Edward “Teddy” Cleps, a crypto analyst and the founder of Yellow Block, Bitcoin must move above the $11,100 horizontal to confirm that the ongoing correction is a bullish reversal.…

Uniswap payday, ETH transactions hit record high & EU backs stablecoins

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   Frenzy as Uniswap launches new governance token Uniswap stole the show this week when it announced it was launching UNI, its very own governance token. A total of 1 billion tokens will exist, and anyone who has ever used the platform can claim 400 of them. Thousands came forward to accept their reward, and at one point, the airdrop was worth a cool $3,356.…

The US is number one…in blockchain patents

Despite Alibaba filing more patents, the United States still takes the lead as the country with the most blockchain copyrights, a Sept. 17 report from intellectual property consultancy KISSPatent. The U.S. has 2,112 patents, followed by the Cayman Islands with 350 filings and Canada with 118. The rest of the top six are Japan with 108, South Korea with 87 and China with 77 patents.  The Cayman Islands is second, as most of Alibaba’s blockchain applications are located on the island.  Although Chinese companies are often represented in various “top…

BTC, NEO, XMR, ADA, LINK

The total crypto market capitalization has recovered from the Sep. 6 lows near $314 billion but it is struggling to sustain above the $350 billion mark, which shows that higher levels continue to attract sellers. Bitcoin’s (BTC) dominance fell from above 68% in mid-May to about 56% in the first half of this month as DeFi tokens embarked on a strong bull run.  However, in the past few days, the DeFi assets have witnessed sharp corrections and their volatility has increased. This could possibly shift traders’ attention back to Bitcoin.…

Here’s the Pivotal Yearn.finance (YFI) Support Analysts Are Watching Amid 30% Drop

Yearn.finance (YFI) has undergone a strong retracement since recent highs, dropping under $30,000 since setting a $44,000 high just days ago. The coin currently trades at $28,000 as of this article’s writing, far below the aforementioned highs. This drop comes as Bitcoin and Ethereum underwent a strong rejection at the local highs. Other decentralized finance coins have also started to plunge, with the air being sucked out of this segment of the crypto market. Here’s a crucial level YFI analysts are watching as the leading cryptocurrency continues to slip lower.…

Gibraltar updates DLT framework to comply with FATF rules

The Gibraltar Financial Services Commission (GFSC) has updated its regulations governing the operation of distributed ledger technology (DLT) providers to include the latest Financial Action Task Force (FATF) rules.  The GFSC said this is in response to blockchain’s fast-moving nature, especially as the agency seeks to support companies while protecting consumers. The updated guidance notes includes the latest FATF recommendations around virtual asset service providers (VASP) and the ‘Travel Rule,’ which requires VASPs to collect and transfer customer information in transactions. GFSC recommends considering “virtual assets as ‘property,’ ‘proceeds,’ ‘funds,’…

The emergence of cryptocurrency hedge funds

I started exploring Bitcoin first in 2012 and, still today, I am fascinated by the opportunities and future potential digital assets pose as an emerging alternative asset class. One of the most relevant recent developments, which is often not covered, is the emergence of crypto hedge funds. Compared to the early days of crypto assets, when there were mainly private investors or traders in the space, a massive inflow of professionals entering the market has begun with the emergence of crypto hedge funds. In fact, looking at data from 150…