Bearish S&P 500 Means Bitcoin May Have Topped

Bitcoin has undergone a strong 50% rally over the past 30 days. The leading cryptocurrency traded as high as $16,500 just hours ago, though has since retraced toward $16,200 as buying pressure has tapered off. While Bitcoin remains above key support levels, not all analysts think the cryptocurrency has room to extend to the upside. A crypto-asset analyst says that Bitcoin may have topped and may thus face a drop in the days ahead. Many analysts think that Bitcoin is overbought, hence the expectations of a drop in the short…

Uniswap’s UNI is Looking “Quite Attractive” as It Rebounds from Key Support

Uniswap’s UNI token has faced some intense selling pressure throughout the past few weeks, with it being struck particularly hard by the recent downturn seen across the aggregated DeFi sector. However, this weakness is beginning to transform into strength as buyers have sent the crypto rocketing nearly 100% from its recent lows. The intensity of this recent uptrend indicates that bulls might be on the cusp of sparking a parabolic uptrend, with many of the so-called “blue-chip” DeFi assets all screaming higher as of late. There’s one outstanding catalyst that…

MakerDAO’s Dai Stablecoin Supply Hits $1 Billion for the First Time

Key Takeaways Maker users have minted $2 billion worth of the DAI stablecoin. Growing demand for the coin may be driven by a higher debt ceiling and the transition to multi-collateral Dai. DAI is now the third largest stablecoin on the market after USDT and USDC. Share this article Users of the decentralized stablecoin protocol Maker have minted $1 billion worth of the DAI stablecoin, according to Rune Christensen, CEO and co-founder of the company: The Maker Protocol just hit 1 billion Dai for the first time ever! Want to…

DeFi Project Spotlight: BarnBridge, an Institutional Bridge to DeFi

Key Takeaways BarnBridge brings traditional risk-management tools and fixed income to DeFi. The protocol’s offering may appeal to institutional players looking to enter crypto. The platform is still in its early stages of launching. the product is planned for partial launch in Q1, 2021. Share this article The potential impact of crypto on traditional finance (TradFi) and institutions has been discussed for years. People like Blythe Masters, who helped create the infamous credit-default swaps, got interested in Bitcoin long before its price went over $19,000. One of the blockchain’s most…

6 Questions for Sheila Warren of the World Economic Forum – Cointelegraph Magazine

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week our 6 Questions go to Sheila Warren, head of blockchain and DLT at the World Economic Forum. Sheila serves on the executive committee of the World Economic Forum and the leadership team of its Centre for the Fourth Industrial Revolution, working with public-, private- and third-sector actors around the world to advance the adoption of…

Privacy should be at the core of CBDCs, says Boston Fed research director

Robert Bench, the Federal Reserve Bank of Boston’s director of applied research, thinks privacy should be a focus during the creation of digital money, not an afterthought.  “Privacy is a question that we have learned is critical from a technical perspective,” Bench said during a Chamber of Digital Commerce panel on Friday: “One of our learnings is that the questions of privacy and identity must be considered at the earliest stage of the architecture. Making privacy or identity an ad hoc process is suboptimal from both a privacy or identity…

Keep dreaming! Options data suggest $560 Ethereum price won’t happen

This week Bitcoin (BTC) and Ether (ETH) prices reached new highs as a slew of bullish news continued to pump investors’ hope that the next crypto-bull market will mirror the one seen in 2017.  Many novice traders simply follow spot prices on the major crypto exchanges to gauge the direction price might take. However, reviewing options markets data can provide additional relevant insights on market sentiment. Looking at the most recent activity in Bitcoin options, it is clear that some trades occurred on strikes that seemed improbable even for the…

Polychain Now Owns 1.6% of the Yearn.finance (YFI) Supply as Uptrend Holds

Yearn.finance’s YFI governance token has seen some massive momentum today, with the cryptocurrency’s price rocketing higher as buyers take control of its mid-term trend. The crypto is in the process of trying to break above its crucial near-term resistance, which sits at roughly $18,000. It has made a few breaks above this level, but each time it is met with inflows of selling pressure. Where it trends in the near-term may depend largely on whether or not this level can be easily surmounted in the days and weeks ahead. If…

Binance traders find ‘intelligent’ ways to circumvent US block

Binance founder and CEO Changpeng Zhao, or CZ, says he needs to do more to block “intelligent” US traders from illegally accessing his global exchange.  In an interview with Bloomberg, CZ said his exchange needs to be “smarter about the way we block” US traders from gaining access to the platform. He said: “Basically, we do continually try to improve our blocking. There are sometimes a few guys who want to circumvent our blocking and still use the platform and we have to come up with a smarter way to protect…