Chainlink Could Dive Towards $8.00 Before Extending Uptrend

Chainlink has been one of the few altcoins to see some notable momentum throughout the past few days, as most altcoins have been struggling to rally despite the overt bullishness seen by Bitcoin. The crypto remains well below its 2020 highs of $20.00 that were set a few months ago, but it could be just a few weeks away from revisiting these highs as bulls begin laying the groundwork for a strong move higher. That being said, it may first have to bear witness to some weakness before it can…

Ethereum Analytics Firm Nansen Secures $1.2 Million Seed Investment

Share this article Nansen is a subscription-based Ethereum data startup bootstrapped by Alex Svanevik, Evgeny Medvedev, and Lars Bakke Krogvig. Nansen Lands First-Ever Investment Mechanism Capital and Skyfall Ventures led Nansen’s first-ever funding round with additional support from Robot Ventures, Volt Capital, Fabric Ventures, and others. Individual investors, including Ethereum developer Eric Connor, Anthony Yoon, and Sergei Chan from FTX and Deribit Exchange, also participated in the seed round.  Robert Leshner, the founder of Compound Finance and Robot Ventures, said:  “Proud to support [Nansen}, which is building the analytics &…

NEO Flashes Buy Signal as Crypto Market Turns Bullish

Key Takeaways The TD index presented a buy signal on NEO’s 12-hour chart. If validated, prices could rise towards the next significant resistance barrier, around $19. The 200-twelve-hour moving average must hold as support for the bullish outlook to be validated. Share this article After falling by 38% over the past month, NEO looks ready to regain lost ground. Multiple technical indexes suggest that buyers are reemerging as this sunken token heads for greener pastures. NEO Ready to Surge While Bitcoin leads the newest bull cycle in the cryptocurrency market,…

MicroStrategy’s crypto holdings may be paying off more than its business

Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit.  According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020. Rooke’s data shows that the business intelligence firm’s 38,250 BTC holdings — worth roughly $425 million at the time of purchase in August and September — were valued at more than…

XRP Bull Run a Week Away as It Completes Bullish Technical Pattern

XRP’s price action has been similar to how it has been for the past couple of years, with it consolidating in the mid-$0.20 region while being wholly unable to garner any type of sustainable trend. This consolidation phase has come about despite the strength seen by Bitcoin and the rest of the crypto market. Much of the cryptocurrency’s lackluster price action can be pinned on its lack of utility and waning community momentum. Although XRP had built one of the strongest communities on social media throughout 2017 and 2018, reports…

Bitcoin becoming less-risky as an investment, Novogratz says

Bitcoin (BTC) has gained significant notoriety in the decade since its 2009 launch. Big mainstream players such as MicroStrategy have recently begun to invest large sums of money into the asset, normalizing its viability as an investment for some. Mike Novogratz, CEO of Galaxy Digital, said Bitcoin is now an obvious financial play. “On a risk-adjusted basis, BTC is an easier bet today than it has ever been,” Novogratz said in an Oct. 27 tweet. “It’s being de-risked daily.” Cointelegraph reached out to Novogratz for additional details, but received no…

VC calls Ethereum killers ‘toothless’ based on token allocation to insiders

Mythos Capital founder Ryan Sean Adams called Ethereum killers “toothless” based on initial token allocation schemes that often prioritize insiders: Source: Twitter. Adams was referring to a recent Messari report, which summarized the token distribution for some of the most popular Ethereum (ETH) alternatives launched in the last couple of years. There are four main distribution categories: public presale, community allocations, insiders, and each project’s respective foundations. Source: Messari. The report’s authors suggest that the proportion of tokens allocated to insiders (which includes team, company and VCs) is crucial when…

New Siberian Bitcoin mining center set to provide 100 jobs to locals

The governor of the Republic of Buryatia, Russia signed a decree allowing for the construction of a 13.6 acre data center in Southeastern Siberia. The facility will become home to a number of hi-tech activities, including a Bitcoin (BTC) mining operation. The facility will be built by BitRiver and is expected to create up to 100 local jobs. It will be equipped with the latest generation of ASIC miners and will take about a year to complete. In addition to cryptocurrency mining, the facility will be used for Big Data and…

BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director

At the 2nd Bund Summit held on Oct. 25, Bank of England fintech director Tom Mutton stated that while a central bank digital currency, or CBDC, was “a focus” for the Bank of England, the position the bank had taken this past March hadn’t changed.  “We haven’t made any decision on whether or not to launch a retail CBDC,” said Mutton. “But we are exploring the pros and cons with interest.” Specifically, the BoE exec stated the central bank was looking into payment options for people in the U.K. who…

Bitcoin investing interest up 19% compared to 2019, Grayscale report says

Crypto investing firm Grayscale recently released its 2020 Bitcoin Investor Study. The report used data from a survey which digitally polled a sizable number of individuals in the U.S. between June and July. Grayscale found the majority of the surveyed people were keen on buying Bitcoin (BTC). “In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products,” Grayscale wrote in its October 2020 report. “This marks a significant increase from the 36% of investors who said they were interested in 2019.” The numbers in Grayscale’s report come…