SushiSwap’s SUSHI Continues Ascent, Rallies 10% on $1B in Deposits

SushiSwap has once again taken center stage in the decentralized finance (DeFi) space. The decentralized exchange’s liquidity has seen an exponential explosion over recent days while the SUSHI token itself has gained 200% from the local lows set just weeks ago. SushiSwap has had a bit of a storied history. It was launched as a fork of the Uniswap exchange just months ago, managing to beat Uniswap temporarily, then dropped into the shadows for a few weeks due to the initial controversy around the Nomi Chef situation. SUSHI seems poised…

4 reasons why Bitcoin price is on the verge of a new all-time high

Earlier today the price of Bitcoin (BTC) hit $18,815 on Binance for the first time in nearly three years. Following the breakout, BTC is on track to see a new all-time high in the near term for four significant reasons. The factors that make a new record high likely are growing institutional demand, reduced selling pressure, a spot-driven market rally, and the significance of the $18,500 resistance breach. BTC/USD 4-hour chart. Source: TradingView.com Bitcoin is seeing reduced sell pressure For Bitcoin holders to sell, they need to first deposit BTC…

Poloniex exchange goes down on the brink of new Bitcoin all-time high

With a new all-time price high in sight for Bitcoin, crypto exchange Poloniex recently went offline. “Poloniex is currently unavailable due to an unexpected issue,” the exchange’s customer support Twitter page said on Friday. “We are investigating the issue and will keep you updated here throughout.” Bitcoin has yielded exuberant upward price action in recent weeks, as well as catching growing attention. When traffic becomes dense on exchanges, their systems sometimes go down, locking out traders. This has happened with other exchanges in the past as well, including BitMEX and Coinbase.…

Bitcoin shortage is real, and PayPal is the cause, Pantera Capital claims

PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price.  In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal. PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in circulation. Citing itBit data, Pantera claims: “When PayPal…

IMF lawyers argue that central banks need reform before they can issue CBDCs

On Friday, the International Monetary Fund published a new working paper on central bank digital currencies, or CBDCs, and their legal ramifications.  In the paper, researchers including IMF legal counsel Wouter Bossu and Catalina Margulis argue that current frameworks are inadequate for issuing public-facing CBDCs. The researchers are particularly concerned about how existing definitions of money can apply to such a new technology, but, optimistically, suggest the problem is simple enough to fix: “The absence of an explicit and robust legal basis for the issuance of token-and/or account-based CBDC can…

Search Engine Marketing Data Reveals Highest Retail Interest In Bitcoin Ever

Bitcoin is nearly at $20,000 once again and to the surprise of the crypto community, Google Trends search data now still doesn’t anywhere nearly compare to the search interest back then. However, digging deeper into search engine volume using a plethora of search engine marketing tools, there’s a very different “story” to be told. Here are the reasons why search volume and related terms suggest that there is far more interest now in Bitcoin than there was at the height of the crypto bubble. Bitcoin Blows Up But Fails To…

US regulator wants to stop banks from blacklisting legal businesses, crypto included

Per an announcement on Friday, the Office of the Comptroller of the Currency, or OCC, is looking for public comments on rule-making that would stop banks from denying services to businesses based on sector. In the words of Comptroller Brian Brooks, “Blanket boycotts of entire industry sectors have to stop.” The OCC’s announcement points to political hot-button issues that banks have systematically denied services to, including oil and gas companies in Alaska as well as Planned Parenthood. Speaking to the media, Brooks noted the bipartisan nature of many of these…

Fake Uniswap app on Google Play Store has already lost one user $20,000

A fraudulent mobile application claiming to be the Uniswap exchange has reportedly stolen money from an investor, offering an important reminder of the scams that still pervade the nascent cryptocurrency industry. Alex Saunders, founder and CEO of the Australia-based Nuggets News, recently reported that one of his members lost $20,000 to a fake Uniswap mobile application that was listed on the Google Play Store. The app, called “Uniswap DEX,” was published Nov. 10 by a person or entity called Uniswap Inc. The user reportedly entered in their private key backup…