Historically low spot volumes and investor indecision weigh on Bitcoin price

If one word could be used to describe how the majority of participants in the cryptocurrency ecosystem feel about the near-term outlook for Bitcoin (BTC) it would be ‘undecided’, as mixed signals from all manner of indicators have many traders waiting for a significant move in either direction before planning their next entry point.  A new report from Delphi Digital took a macro look at Bitcoin’s current price action and found that a variety of factors, including low exchange volumes and the strengthening U.S. dollar have weighed heavily on the…

SEC delays another ETF decision, Binance news, and more sideways BTC price action: Hodler’s Digest, July 11–17

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   New data hints why Bitcoin price action has spent two months at $30K Bitcoin (BTC) posted another week of range-bound price action. Bitcoin has traded in a fairly tight range over the past several days, acting more like a volatile stablecoin than the bullishly…

Aave founder hints at developing ‘Twitter on Ethereum’

Aave founder Stani Kulechov told his 90,000 Twitter followers on Saturday that his platform should build “Twitter on Ethereum” after Jack Dorsey said he was developing a new Bitcoin (BTC)-centric financial services platform with striking similarities to Aave.  Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum — stani.eth rAAVE =(⬤_⬤)= (@StaniKulechov) July 17, 2021 Dorsey tweeted Thursday that Square Inc., his mobile payment company, was creating a new business “focused on building an open developer platform with the sole goal of making it…

5 years after The DAO crisis and Ethereum hard fork

A vulnerability of a smart contract in one private DAO fund firstly to the leak of cryptocurrency worth tens of millions of dollars (billions as of today) and then to the hard fork of the second-largest blockchain network Ethereum. You can find tons of articles investigating those events, including a wiki page. Even though the purpose here is conclusions, let us refresh in memory what happened five years ago. The DAO was a startup that ran an investment fund in Ether (ETH) and operated as a smart contract on Ethereum.…

Bitcoin price set to rebound? BTC shorts on Bitfinex crash by 25% after record spikes

Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%. The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to 14,897 BTC at the session’s open. Meanwhile, the drop came as a part of a bigger downside move that started on July 15. On the day, the total number of margined short positions had reached 17,053 BTC. BTCUSDSHORTS on July 17 plunged as a part of a prevailing downside correction. Source: TradingView…

Bitcoin interoperability platform Interlay raises $3M in seed funding

Interlay, a Bitcoin (BTC) interoperability project that first launched on Polkadot, has concluded a $3 million seed round to further develop its flagship decentralized finance product, marking another important capital raise in the blockchain industry.  The funding will go towards supporting Interlay’s interBTC platform, which allows users to invest, earn and pay with Bitcoin on any blockchain. Originally commissioned for Polkadot, interBTC will expand to other blockchains including Ethereum (ETH) and Cosmos. As Cointelegraph reported, Interlay began building its Bitcoin bridge in early 2020 after receiving a grant from Web3…

Aave May Build “Twitter on Ethereum”

Share this article Kulechov made the suggestion in response to Twitter founder Jack Dorsey’s plans to build a new platform for DeFi on Bitcoin.  Aave Founder Hints at Social Media Plans Stani Kulechov has his eyes set on decentralized social media.  The Aave founder shared his vision of a “Twitter on Ethereum” Saturday, referencing Jack Dorsey’s recent announcement that he would be building a Bitcoin-focused platform for DeFi. “Since @jack [Dorsey] is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum,” Kulechov tweeted Saturday. He added that…

If this is a crypto bear market, how long can it last?

It has now been three months since Bitcoin’s price peaked at an all-time high just shy of $65,000. For most of the last two months, Bitcoin (BTC) has been trading in the $30,000–$40,000 range, as much as 54% lower than its peak The downturn came at a time when many analysts were predicting exactly the opposite — a bull cycle set to run to new record highs within months — with some even speculating that a six-figure BTC price would materialize this year. So, what’s going on? Is the current…

The first step into blockchain industry

The cryptocurrency industry has grown immensely in the years since it began. Following Bitcoin’s (BTC) launch in 2009, an entire industry has sprung up and flourished around the innovative asset and its underlying blockchain technology. People have created thousands of crypto projects, numerous different blockchains and a number of different blockchain technological specifications and variants.  With such a deep and vast industry, how do you know where to start if you want to get involved? Start with your interests and talents. The cryptocurrency and blockchain industry (also sometimes referred to…

A decentralized app store might lead crypto toward more centralization

The estimated windfall Apple got from its App Store in 2020 is $67 billion. That’s up from $50 billion in 2019, a 28% increase. Even as the company has lowered its commissions for smaller developers, the App Store remains a major component of Apple’s bottom-line profits. And it’s not just Apple taking a cut of developer revenue: On Android, the world’s most popular mobile operating system, the Google Play Store netted $38.6 billion in 2020. That’s over $105 billion in revenue from the top two app stores combined. It’s no…