3 Crucial Reasons Why Bitcoin Shot $1,500 Higher This Past Week

Bitcoin has shot around $1,500 higher over the past week, reaching a weekly high of $13,200. The price of the leading cryptocurrency has dropped slightly to $12,900 as of this article’s writing, just shy of the highs and the pivotal $13,000 resistance level. This recent move higher caught many traders off guard. During one day this week, over $300 million worth of Bitcoin short positions were liquidated, along with some long positions amid some volatility. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Three Reasons Why…

If Yearn.finance (YFI) Surmounts $16,000, It Could Start a New Uptrend

Yearn.finance has seen a decent rebound from its recent lows set just a few days ago. Its ongoing upswing is coming about as Bitcoin and Ethereum consolidate, which indicates that it may be breaking its recent downtrend and beginning to navigate higher as many altcoins start catching some tailwinds created by BTC and ETH’s recent upswing. There are still some underlying problems that are hampering YFI’s growth, with the Yearn ecosystem currently being caught within a vicious cycle limiting how much value is captured by the token. Furthermore, the founder’s…

IPFS lead explains how malicious files are eliminated from its network

The InterPlanetary File System, or IPFS, helps decentralize the internet by making files available across multiple locations instead of through a single centralized point of failure. What happens if someone reports a problematic IPFS file, however? Dietrich Ayala, ecosystem lead for IPFS, explained the process: “Let’s say there’s a URL, or an IPFS content ID as we call them — there’s an IPFS address that we have identified to be malicious or dangerous somehow,” Ayala told Cointelegraph. If this sort of problem were to occur on the standard centralized internet, the URL would likely…

Charles Hoskinson calls for a different kind of apoliticism than Brian Armstrong

“My first thought was he must have been hacked”, said Hoskinson, reflecting on opening an email he received from David Barrett, the CEO of Expensify, urging him to vote for Joe Biden: Source: Twitter. Hoskinson later discovered that he was not the only recipient of the email at IOHK, but was rather a part of a bulk email blast sent to all of his company’s employees. Hoskinson remembered using Expensify, a platform which provides companies with expense management tools, in the early days of IOHK, but could not immediately recall…

Attack of the bots! Paxful fights off thousands of automated threats

Paxful, a peer-to-peer cryptocurrency marketplace, has successfully defended against a number of serious threats, including 220,000 bot attacks and a variety of social engineering ploys — all in the span of two months. During the same time period, hackers managed to steal around $200 million worth of cryptocurrency from the KuCoin exchange, and another unconnected attack saw $5.4 million stolen from Eterbase. Paxful said that its alleged attackers attempted to use automated bots to brute force their way into accounts belonging to the project’s users: “Bots, which are reported to generate…

South Korean gov says it won’t protect crypto exchanges from Kim Jong-Un’s hackers

There has been a hot political debate underway on who should take responsibility for countering North Korean hacks targeting South Korean cryptocurrency exchanges. Recently, South Korea’s financial watchdog made it clear that they do not see this issue as any of their business. According to Fn News, the Financial Services Commission, or FSC, has replied to a written inquiry from the National Assembly’s Political Affairs Committee on October 23. The FSC says that they’re not responsible for the crypto stolen during attacks from hackers sponsored by the Kim Jong-un’s regime,…

US AML watchdog wants info on all international crypto transactions over $250

The Financial Crimes Enforcement Network (FinCEN) and Federal Reserve are looking to get more information on smaller transactions than ever before.  According to a notice of proposed rulemaking published on Friday, the agencies want to lower the $3,000 threshold established in 1995 to $250 for international transactions, meaning that financial institutions would need to exchange client information alongside all transactions greater than $250 that begin or end outside of the United States. Which is to say, the Travel Rule, as it is known, would apply to quite small amounts of money changing…

Bitcoin price rise to $500k is inevitable, Winklevoss twins say

Gemini crypto exchange founders Tyler and Cameron Winklevoss said that Bitcoin (BTC) will eventually hit $500,000 per coin during a recent interview with podcast host Peter McCormack. “The question in our mind is not so much does it get to $500,000, but how quickly,” Tyler told McCormack during the Oct. 23 podcast episode. His thesis takes the market cap of gold and theoretical central bank allocation into consideration. “I would sort of contend that $500,000 Bitcoin is actually pretty conservative and the game hasn’t even really started,” Cameron noted. MicroStrategy and…

This “Green Wave” is About to Lift Chainlink Significantly Higher, Claims Analyst

Bitcoin’s recent upsurge is finally proving to be beneficial for altcoins, as many have been able to post notable gains throughout the past day, including Chainlink. LINK has been one of the best performing major altcoins over the past 48 hours, as it has put some serious distance between its current price and its recent lows. This strength isn’t too surprising, as the cryptocurrency tends to outperform the market during uptrends. It does appear to be consolidating at the moment, however, as bulls have been struggling to propel it past…

Stablecoins went wild in the days before Bitcoin’s recent surge

In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior. Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant. On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet’s data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the dollar value, no extraordinary trends were detected. Stablecoins inflows to…