Ethereum still not ready for DeFi, say some critics

As DeFi projects flock to Ethereum, experts warn the network is not yet ready to support the frenzy. Martin Froehler, a mathematician, former hedge fund manager, and founder of Austrian crypto trading platform Morpher, told Cointelegraph that although Ethereum is the “best thing [the blockchain industry] has” for DeFi, the current capabilities of the network are not enough: “Ethereum can only handle about 15 transactions per second and has a block-time of 15 seconds, which is an eternity in finance. By design everyone interacting with it needs Ether. That is…

Bitcoin Holding This Key Macro Level Suggests the Next Bull Market is Nearing

Bitcoin’s price action has been somewhat stagnant throughout the past few days and weeks, with bulls and bears both reaching a clear impasse The aggregated cryptocurrency market has been following in Bitcoin’s lead and is struggling to garner any decisive momentum One analyst is now noting that BTC has been holding above a key macro level throughout the past few months He believes that the recent consolidation above this level bodes well for its near-term outlook and could indicate that significantly further upside is imminent in the weeks and months…

Spikes in gas prices slowing growth of new NFT marketplaces

High gas prices have become a problem for non-fungible token (NFT) marketplaces, especially as they look to mint at scale, the founder of a start-up said.  Sean Papanikolas, founder of NFT marketplace Cargo, told Cointelegraph in an interview that the NFT sector is at an inflection point. But scalability weighs on new players in the sector now that gas prices have spiked. He said: “Now, in 2020, platforms are starting to see the scaling issue now due to the spikes in gas prices. Some platforms have halted minting while gas…

Chainlink Weekly MACD Bearish For First Time Since Parabolic Rally Began

Chainlink may have rebounded with a record-breaking single-day rally, it did so after a 60% fall from its all-time high set just over a month ago. A key indicator measuring momentum has flipped bearish on weekly timeframes for the first time since the parabola began. Is this a sign that momentum is about to slide further to the downside? Chainlink Flips Bearish For First Time Since Parabolic Rally Started Chainlink cryptocurrency tops the list of the industry’s best-performing tokens in 2020 and the years before it. Chainlink was launched during…

Cardano Rejects at Pivotal Resistance After 30% Surge: The ADA Bear Case

Cardano (ADA) has undergone a strong surge to the upside over recent days. Per data from TradingView.com, the coin is up around 30% since it bottomed just two days ago. Unfortunately, technical signs show that the cryptocurrency is primed to reverse lower after the rally. This is in line with some analysts that expect Bitcoin’s ongoing recovery to taper off as it faces resistance in the $10,800-11,200 region. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase ADA Primed to Correct After 30%+ Surge Cardano is primed to correct to…

US SEC issues no-action letter on compressed digital asset settlement process

The U.S. Securities and Exchange Commission (SEC) took a major step toward streamlining digital asset securities settlement by compressing the previous four-step process into three in a bid to reduce operational risk for broker-dealers. The SEC issued a no-action letter on Sept. 25, stating it will not penalize any broker-dealer operating an alternative trading system (ATS) that trades digital asset securities — if they adhere to the new guidelines. According to the regulator, several ATS want to follow a streamlined model in cases where there is no custody over the…

A necessity to strike a balance

Repeatedly, proponents of disruptive technologies have proven that regulation and innovation have an immense potential to actualize a mutually beneficial existence. The often delicate relationship between innovators and regulators — which may be mired by antagonism — is fundamental to the functioning of the global economy, especially at times as challenging as we are facing now.  The fuel that keeps the fire of the important relationship between regulators and businesses alight — like any — is communication and collaboration. This could not be more apt when it comes to the…

KuCoin’s Hot Wallet Private Keys Stolen, Estimated $150 Million in Damages

Key Takeaways Private user data is unaffected, according to KuCoin CEO, Johhny Lyu. The KuCoin team is working with other top exchanges to blacklist the hackers’ funds. Share this article KuCoin exchange reported a security breach at 04:50 AM (UTC+8) this Saturday. The time of the announcement coincided with the completion of the security operations necessary to limit the damages.  By this time, however, it was too late as the exchange had already lost a confirmed $150 million in assets. The KuCoin security team noticed the breach and abnormal transactions…

The UN’s ‘decade of delivery’ needs blockchain to succeed

When the Sustainable Development Goals, or SDGs, were conceived back in 2012, blockchain technology was in its early days. Few could have foreseen the trajectory and the potential of blockchain for advancing these ambitious targets. But today, we see opportunities for blockchain technology to recast conventional approaches to sustainable development — and accelerate progress if deployed responsibly. Macro trends of 2020 There are a number of macro trends this year in the world of blockchain and sustainable development that provide context. This has been — and will continue to be…

Crypto lending rates are low and DeFi is not competition says Nexo co-founder

Much has been said about attractive interest rates offered by popular crypto lending platforms like BlockFi, Celsius Network and Nexo. However, there are two sides to every coin. Paying out high interest rates requires charging even higher rates to the borrowers.  Yet, Nexo co-founder Antoni Trenchev disagrees that crypto lending rates are high. In an interview with Cointelegraph, he said that this reflects the “Western” view, where the prevailing interest rates tend to be low. But it is not the case in the developing world, he said: “But for people…