Chainlink Shows Signs of Weakness, But Development Activity is Bullish

Chainlink has been showing signs of weakness throughout the past few days, but this trend may be shifting as the cryptocurrency rebounds today alongside Ethereum and other major altcoins. The introduction of Ethereum 2.0 – with a scheduled release in December – is the event that is driving this rally. There’s a strong possibility that ETH’s ongoing break above $400 could mark a shift in the aggregated altcoin market. This shift could work in Chainlink’s favor, although the cryptocurrency has a way to go before it can erase the losses…

Record $2.9B Bitcoin options open interest follows BTC rally to $14,259

The open interest on Bitcoin (BTC) options contracts has reached a new all-time high at $2.9 billion. Interestingly, this feat happened only five days after the October expiry, which liquidated $400 million worth of options. Bitcoin options total open interest. Source: Skew Over the past six months, the options market has grown three-fold, causing investors to grow more curious about the potential impact upcoming expiries will have on Bitcoin price. Monthly BTC transaction volume (USD). Source: Digital Assets Data Data from Cointelegraph and Digital Assets Data also show that monthly…

Bitfury forms MaaS partnership to upgrade $35M Norway data center

Crypto mining firm Bitfury has formed a partnership with a private equity firm allowing it to upgrade its existing $35 million blockchain infrastructure in Norway. According to a Nov. 2 announcement from the Luxembourg-based LIAN Group, the firm has launched crypto mining as a service, or MaaS, by partnering with Bitfury. As part of the arrangement, the LIAN Group will contribute to a full upgrade of Bitfury’s existing blockchain infrastructure, consisting of a large data center in Norway. Bitfury opened crypto mining operations near the town of Mo i Rana…

Yearn.finance’s YFI Could See a Short Squeeze to $14,000

Yearn.finance’s YFI token has continued its descent, breaking below $9,000 as sellers stay in full control of its near-term outlook and continue erasing the gains it incurred as a result of its recent parabolic rally. This weakness has come about due to many factors, including a fragmented community, low yields on the ecosystem’s products, and the founder’s focus on new tokens he is working on. This weakness has also come about in the face of a somewhat bullish governance proposal that redirects the ecosystem’s income away from staking rewards and…

Ethereum Community Untroubled by Elections as ETH 2.0 Readies Launch

Key Takeaways Ether’s price surged over 7% after developers deployed one of the most challenging aspects of ETH 2.0. As the Ethereum Foundation seems to be on track for the network upgrade, investors rushed to exchanges to get a piece of this altcoin. A further spike in buy orders could see prices rises towards $480. Share this article Buying pressure behind Ethereum is rapidly increasing as the network moves closer to its long-awaited 2.0 upgrade. Ethereum Ready to Resume Historic Uptrend Fears over the U.S. presidential election have dissipated at…

Record $816M in Bitcoin leaves Binance — Are whales preparing for a rally?

Binance saw its biggest Bitcoin (BTC) outflow in history on Nov. 3, according to data from CryptoQuant. A total of 58,861 BTC were withdrawn on a single day, equivalent to $816 million. The significant spike in outflows could suggest two things. First, it might show that whales could be bracing for a rally in the near term. Second, an over-the-counter deal could have occurred, causing whales to move their funds. Bitcoin outflows on Binance. Source: CryptoQuant.com On-chain activity surges highlight Bitcoin whale movements In addition to the unprecedented increase in…

Terra Virtua creates NFT collectibles ecosystem for the ComiCon crowd

Digital collectibles platform Terra Virtua announced Nov. 4 that it had completed a $2.5 million private funding round, attracting support from funds such as Woodstock, NGC Ventures, and AU21 Capital. The investment raised will be used to further develop what the company describes as the first “mass-market” nonfungible token, or NFT, ecosystem. Aside from being a marketplace for provably rare digital collectibles, the platform has a strong focus on the social side of the fandom scene. As such it provides a number of customizable virtual spaces where users can show…

Ethereum fees declining as DeFi markets cool

The DeFi bubble seems to be slowing down in the last months of 202, with fees and confirmation times retreating back to less formidable levels. “ETH fees are way down suggesting the DeFi madness has abated for now,” Josh Olszewicz, also known as CarpeNoctom on Twitter, told Cointelegraph.  “DeFi cooling off, BTC HR [hash rate] way down (-16% difficult adjustment),” he also said, referring to the situation on Bitcoin’s (BTC) network. Bitcoin’s network action, however, is not related to the drop in Ethereum fees, based on Olszewicz’s opinion. “Just happens to…

Bitcoin Price Clears $14,000 As Presidential Race Conclusion Nears

Fear, uncertainty, and doubt cause volatity to spike, but that doesn’t always result in downside. Case in point, is Bitcoin spiking even higher, all while the entire world is on the edge of its seat waiting to see who wins the Presidential race. With emotions running as high as possible, the cryptocurrency cleared resistance at $14,000 with ease, and could at this point be well on its way towards retesting $20,000 or beyond. Bitcoin Takes Out $14,000 After Polls Come To A Close Yesterday was Election Day in the United…