Chainlink Faces Grim Outlook as it Nears Bedrock Support Level

Chainlink’s price has been witnessing massive inflows of selling pressure throughout the past few weeks, with buyers being unable to garner any control of its mid-term trend in the time following its rejection at $20.00. The cryptocurrency has now firmly broken below its previous support level at $10.00 and appears to be in a precarious position as analysts watch for further downside in the near-term. While speaking about the cryptocurrency’s current outlook, one analyst explained that he is now targeting a decline down towards $7.90, which appears to be a…

Bitcoin, Stocks and Gold Plummet as Markets Brace for US Presidential Election

Key Takeaways Bitcoin dropped 4.4% on Monday morning, falling below the $10,500 support level. A letter from the late Supreme Court Justice Ruth Bader Ginsburg’s has added fuel to the November presidential elections as President Donald Trump and the Senate search for her replacement. Britain, Spain, and France are considering a second round of lockdowns with restrictions already being imposed in Madrid and Paris. Prices are dropping across stocks, commodities, and cryptocurrency as fears of another crash akin to the one in March return. Share this article Bitcoin, stocks, and…

Uniswap’s UNI Token May Reel to $3.30 as Selling Pressure Ramps Up

Uniswap’s UNI token launch generated massive hype for around 24 hours, leading the token’s price to surge up to highs of $8.50 before the hype faded and the cryptocurrency’s price plunged lower. It doesn’t appear that the hype will return anytime soon, as the token has since erased the vast majority of its gains and is showing heightened signs of weakness. This weakness has come about in tandem with that seen by Bitcoin and the aggregated cryptocurrency market. BTC’s price has reeled down towards the lower-$10,000 region today and is…

No, you can’t buy Venezuela’s Petro on any overseas exchanges

A New York-based crypto exchange has listed a token with the same name as the Venezuelan state-issued asset, the Petro (PTR). In reality however, the two are entirely unconnected. Exchanges such as BitMart have recently begun listing this similarly named token for trade on their platforms. However, the Venezuelan government has not yet announced any partnerships with exchanges abroad. According to an article published by Cointelegraph Spanish, only seven local crypto exchanges offer PTR for trade in Venezuela. Two government platforms, named Plataforma Patria and PetroApp, additionally allow speculators to…

US banking regulator authorizes federal banks to hold reserves for stablecoins

Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins. The new guidance reads, “We conclude that a national bank may hold such stablecoin ‘reserves’ as a service to bank customers.” Alongside the announcement, Acting Comptroller of the Currency Brian Brooks noted that stablecoin services are already a part of many banks’ activities: “National banks and federal savings associations currently engage in stablecoin related activities involving billions of dollars each day.” The…

Part 1 — Key takeaways for now

Telegram is a popular, global, cloud-based instant messaging, videotelephone and voice-over service company. Particularly popular with crypto-enthusiasts, at the end of 2017, Telegram came up with a plan to raise funds to support the development of a new crypto asset, dubbed Gram, and a network originally planned as the Telegraph Open Network. Proceeds would also fund further expansion of the messaging service that had previously been funded by the founders. Telegram set out to fundraise in two distinct stages. The first involved the sale of contractual rights to acquire Grams…

Is a Bitcoin ‘death spiral’ imminent following yesterday’s massive difficulty adjustment?

Before the recent halving, many were prophesying a so-called “death spiral” for Bitcoin. This theory hinges on the idea that the halving of the block reward leads to an exodus of miners due to the sudden unprofitability of mining activities. As a result, the network hashrate decreases and the block time increases, meaning that miner revenue further diminishes, pushing more miners off the network. This loop would then allegedly continue until there is no one left to mine Bitcoin (BTC). Bitcoin mining difficulty. Source: Glassnode. On September 20, Bitcoin experienced…

Bitcoin is a better gold than gold itself, Tyler Winklevoss says

According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game.  “Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better,” Winklevoss said in a Sept. 21 tweet.   Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way. For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold;…

After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300. Ether’s decline comes after a head and shoulders pattern became clear on the daily timeframe and the price slid into a shart downtrend over the past four day.  ETH/USD 1-week chart. Source: TradingView.com Three reasons are likely behind Ether’s poor…