AAVE price soars to $123 all-time high as TVL rises and fundamentals improve

As the crypto bull market continues to gain traction, the price of Aave’s native token, (AAVE), is pushing toward new all-time highs. The growth of the decentralized lending platform appears to be bolstered by improving fundamentals, steady growth in the total value locked on the platform, and the creation of a DeFi based crypto-collectibles token and community called Aavegotchi, Unarguably, Aave was one of the DeFi success stories of 2020, as its price rose from $2 in January 2020 to today’s all-time high at $123.92. AAVE/USDT 4-hour chart. Source: TradingView.com…

Say “Yes” if You Bought Crypto in 2020, Says IRS

Key Takeaways The IRS has published newly-revised draft instructions for Form 1040 of the U.S. Individual Income Tax Return. The tax agency requires that all investors answer “yes” if they purchased cryptocurrency over the year. The October version of the draft instructions were not entirely clear. Share this article The U.S. Internal Revenue Service (IRS) has updated the criteria for reporting cryptocurrency purchases in this year’s tax report. This brings more clarity for U.S. taxpayers. Clarity on the Crypto Question Beginning in 2020’s tax season, Form 1040 of the U.S.…

Slot machine manufacturer gets patent for crypto payment options

The largest manufacturer of slot machines in the world has just received a patent that would allow customers to access crypto payments for gambling. According to records from the United States Patent and Trademark Office, International Game Technology, or IGT, received a patent today for a system that would enable gamblers to transfer crypto from their accounts into a “gaming establishment account.” The patent filing shows payments in Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) as examples for users transferring crypto from their private wallets to wallets connected to…

Bitpay’s CCO says Bitcoin could hit $45K in a month, but there’s a catch

An increasing number of mainstream giants have put their money into Bitcoin in recent months. While some speculate that these firms intend to hold their Bitcoin investments for years, Bitpay’s chief commercial officer isn’t so sure. He thinks that these companies may sell their holdings sooner than originally planned, if the price continues to move upward. “A lot of the institutional buyers bought in around $20,000, so that would be my floor for how far Bitcoin could go down,” Sonny Singh said in an interview with Bloomberg on Monday, following…

One of Ripple’s Top Investors Has Sued the Company

Key Takeaways Tetragon, a lead investor in Ripple’s 2019 Series C funding round, has sued the company. Tegtragon aims to force Ripple to redeem the stock that it holds. The lawsuit is a sign that Ripple’s larger SEC lawsuit will have a broader effect on the broader crypto industry. Share this article Tetragon Financial Group, the lead investor in Ripple’s Series C funding round, has sued Ripple in response to its SEC lawsuit. Tetragon Seeks Payment Ripple’s Series C funding round took place over a year ago, in December 2019.…

The 2020 altcoin Hype-to-Activity index

Crypto fans love to defend their favorite assets. Just look at the XRP army and the LINK Marines. Does the hype expressed on Twitter match up with high trading activity though? A few altcoins throughout 2020 revealed mixed results. Using information from The Tie, a crypto data platform, Cointelegraph looked at assets’ Hype-To-Activity Ratios matched against their prices. “Hype-To-Activity Ratio measures the number of tweets a particular coin has per each $1M in reported trading volume of that coin,” Joshua Frank, CEO and co-founder of The Tie, told Cointelegraph, adding:…

Hegic, Loopring, and FTX Token surge higher as Bitcoin price recovers

Bitcoin price may have taken a temporary breather but the sharp correction below $30,000 did little to dismay the bullish sentiment of crypto market participants. The CME Bitcoin futures market reached an all-time high volume at $2.7 billion on Jan. 4 and the same day, LMAX Digital also achieved a record-high at $2.62 billion in traded volume. This huge surge in trading activity suggests institutional investors are continuing to invest in Bitcoin (BTC).  Crypto market data daily view. Source: Coin360 Due to institutional adoption, analysts believe that Bitcoin could rally…

States sue the OCC and Brian Brooks for overriding their controls on predatory lending

Eight states and the District of Columbia are suing the national bank regulator over a rule change that just came into effect. Per a Jan. 5 filing, New York’s attorney general is leading the charge against the Office of the Comptroller of the Currency and current Acting Comptroller Brian Brooks.  Back in October, the OCC laid out its “True Lender” rule, which took effect at the end of December. The rule dictates that a loan that includes a national bank as a lender can therefore rely on the OCC’s national…

Data Shows Institutions are Buying Bitcoin Above $30,000 Despite Turbulence

Bitcoin’s price action has been quite mixed as of late, with buyers and sellers both vying for control over the cryptocurrency’s trend Over a mid-term time frame, bulls are clearly in control and are showing no signs of letting up to bears anytime soon Where the market trends in the mid-term will likely depend on whether Bitcoin once again starts rallying independent of the rest of the market If altcoins cede some of their strength in the short-term, it could fuel a rise past all-time highs Although BTC’s price is…

This Eerie Ethereum Fractal Suggests The Top Is In… For Now

Once Bitcoin finally began to cool off, capital began to flow into Ethereum causing an enormous breakout. The rapid rise took the altcoin to an over 50% increase in just two days, but a selloff stopped the token’s booming trend in its tracks. Crypto is bullish, and more upside cannot be ruled out. But a fractal that closely mimics the rise the altcoin experienced from 2018 to 2019 has been discovered. And if the fractal acts as a roadmap of what to expect, the top might be in for the…