The Pivotal Bitcoin Level Analysts Are Watching as End of September Nears

It’s been quite a boring month for Bitcoin. After plunging around $2,000 at the start of the month, the leading cryptocurrency has entered a tight consolidation range between $10,000 and $11,000, bouncing back and forth between those pivotal technical levels. As of this article’s writing, BTC trades for $10,700, at levels that some analysts have dubbed no man’s land. Here’s a crucial level analysts are eyeing as Bitcoin nears the end of September. How the cryptocurrency interacts with that level is likely to decide Bitcoin’s directionality moving forward. Related Reading: MicroStrategy’s…

Uniswap’s UNI Token Could Rocket Past $6.00 as Bulls Defend Crucial Support

UNI – the governance token of the Uniswap platform – has been seeing some immense turbulence in the time since its launch. The hype surrounding the token – which was airdropped to all of Uniswap’s users – sent the price of the cryptocurrency rallying up to highs of $8.50. The token lost its momentum once it reached these highs and dipped down towards lows of $3.75. In the time since this rejection and selloff, bulls have stabilized its price around $5.00, with buyers not gaining further control over its near-term…

Uniswap team may have misled community over team token vesting

A recent post from Glassnode has called Uniswap’s decentralization into question, while insinuating that the platform’s developers might have intentionally misled the community about how the team’s allocation of UNI tokens will vest over time. Uniswap’s team, investors, and advisors have been allocated 40% of all UNI tokens, with 21.51% of that figure going to the latter two. It seems that the distribution of these tokens, which was meant to take place over four years, currently lacks a public schedule however. It also appears that the team and investor tokens are not…

3 reasons why traders turned bullish after Bitcoin price surged to $10.7K

Today the price of Bitcoin (BTC) abruptly rose by 6% from $10,136 to as high as $10,743.  After this powerful 24-hour rally, analysts are now turning cautiously bullish for various reasons but will Bitcoin price be able to tackle the $11K mark any time soon? Cryptocurrency daily market performance snapshot. Source: Coin360 Currently, the factors that appear to be lifting investor sentiment are negative funding rates, BTC whale activity, and the U.S. dollar’s recent weakness. Funding rates are neutral or negative at most exchanges BTC/USD daily chart. Source: TradingView.com At…

100M people worldwide now use crypto-based assets, says Cambridge study

Researchers at the Cambridge Centre for Alternative Finance recently revealed that 100 million people around the world currently hold Bitcoin (BTC) and other blockchain-based assets. In 2018, the 2nd Global Cryptoasset Benchmarking Study estimated the number of identity-verified crypto users at about 35 million globally. As of Q3 2020, there are up to 191 million accounts opened at crypto exchanges — a figure which doesn’t include self-hosted wallets. The researchers explained the significant increase: “This 189% increase in users may be explained by both a rise in the number of…

Brazil plans to track COVID-19 vaccinations using blockchain tech

A recent YouTube webinar from the Ministry of Justice and Public Security hosted discussion on blockchain’s usefulness in several categories, including the fight against corruption. Blockchain’s impact on COVID-19 tracing also surfaced during the discussion.  A report from Reuters at the beginning of September clarified that the country is not likely to push a mandatory vaccine, while Sept. 9 news reported by MercoPress estimated a 2021 debut date for a COVID-19 shot in the country.  Brazil now plans to use a blockchain-based system called the National Health Data Network, or RNDS.…

Coinbase wallet users targeted by new Android malware

A newly discovered trojan, known as Alien, is attacking crypto apps on Android phones, including Coinbase, Blockchain.com, and Luno. This new malware strain is based on the notorious Cerberus trojan, which wreaked havoc in the Google Play store until the team responsible became complacent. Lack of continued distribution allowed Google Play Protect to almost completely eradicate Cerberus by August 2020. Alien targets 226 Android apps, mostly geared toward the banking industry. In addition to stealing user credentials, the malware can install and remove applications from the infected device, and even intercept notifications:…

Chainlink Forms Classic Reversal Pattern as Analysts Eye Further Upside

Chainlink saw a bout of capitulation yesterday that came about after a multi-week downtrend. This came in the form of a sharp decline that sent its price reeling from highs of $20.00 to lows of nearly $7.00 before it found some strong support. The cryptocurrency’s lackluster price action has struck a serious blow to its technical outlook, but the rebound seen from its overnight lows could still mark a long-term bottom. Since dipping towards the lower-$7.00 region, LINK’s price has been able to climb up to highs of over $9.00.…

Israeli regulators propose Bitcoin be taxed as a currency, not an asset

Four members of the Israeli legislature are recommending that digital currencies be treated more like fiat for tax purposes. According to a report from Israeli news outlet Globes, Knesset members MK Oded Forer, Yevgeny Soba, Yulia Malinovsky, and Alex Kushnir proposed on Sept. 22 that the government body amend existing tax law so that digital currencies like Bitcoin (BTC) would not be subject to capital gains taxes. Under current income tax policy, Bitcoin is treated as an asset and taxed 25% whenever individuals convert their tokens into fiat, or 15%…

Uniswap’s bang ends in whimper, Sept. 16-23

The biggest event of this week was definitely the sudden release of Uniswap’s token, UNI, which enriched many DeFi users by at least $1200 each. Uniswap gave 400 of its tokens to anyone who had ever traded with the protocol, even if the interaction somehow failed. And by “anyone” I mean “any wallet” — some people almost certainly got more than one such allocation by having multiple wallets. Sadly, I wasn’t one of them, and to be honest I barely used Uniswap anyway. In my treatise about decentralized exchanges I…