‘Bulls have won’ — Bitcoin whale clusters suggest BTC trend reversal

Bitcoin (BTC) whale clusters indicate that the price could be in a short-term trend reversal after BTC’s recovery beyond $10,700. In the past two days, BTC price rose by nearly 6% from $10,135 to $10,755 across major exchanges. Whale clusters form when large investors accumulate Bitcoin and do not spend or move their holdings for significant periods of time. This typically indicates that whales expect BTC price to increase in the near term. The hourly map of Bitcoin whale clusters. Source: Whalemap Whalemap, an on-chain analysis firm that tracks whale…

Nexo founder feels vindicated by the FinCen leak, talks of double-standards

Nexo co-founder Antoni Trenchev told Cointelegraph that he believes the information revealed during the recent FinCen leak vindicates the crypto industry. According to the leak, the world’s leading financial institutions cleared over $2 trillion “suspicious” transactions — and Deutsche Bank alone cleared over $1.3 trillion of that amount. Trenchev said: “The first thing I’m feeling is vindication because like everyone has been saying for years, all that Bitcoin and money laundering in the same breath. We’ve been hearing that from regulators, from politicians, from bankers, from just about anyone. And…

Ripple’s New Non-Profit Bolsters XRP Prices

Key Takeaways The XRP Ledger Foundation was created to help accelerate the development and adoption of Ripple’s blockchain. The announcement was met with excitement within the XRP community, pushing prices to a critical resistance barrier. Turning the $0.24 hurdle into support would help XRP rise to its next resistance level at $0.27. Share this article Ripple launched a new non-profit organization tasked with achieving mass adoption for XRP Ledger. Investors welcomed the initiative by pushing XRP prices up by more than 9%. Encouraging Growth and Innovation While some of Ripple’s…

Square CEO Jack Dorsey says Bitcoin holds the keys to security

The Oslo Freedom Forum, an event-based entity under the wing of the Human Rights Foundation, or HRF, digitally hosted Square CEO Jack Dorsey for a quick interview on YouTube. During the engagement, the CEO spoke positively of crypto’s largest asset, Bitcoin (BTC).  “The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet,” Dorsey told host and HRF president Thor Halvorssen in an interview, published on Sept. 25.  Dorsey’s comment came in the midst of a discussion on security and…

Crypto ETP volumes fell in September as investors sought safer options

According to a recent report by CryptoCompare, a digital asset data resource, aggregate trading volumes exchange traded products (ETP) have plummeted drastically in the month of September.  Aggregate ETP Volume ($millions) Source: CryptoCompare Overall daily cryptorrency ETP volumes plunged by roughly 74%, dropping from $186.5 million exchanged in mid-August to an average of $48 million in mid-September.  Grayscale volumes take a hit Grayscale’s Bitcoin Trust product represents the overwhelming amount of trading activity in cryptocurrency ETPs, and has therefore taken the biggest hit when it comes to trading volumes.  Grayscale’s…

This non-Ethereum based DeFi project has $180M staked so far

Wing, a lending protocol built on the Ontology blockchain, currently has $180 million in crypto assets staked on its platform — not a meager amount, even by Ethereum (ETH) standards.  Eric Pinos, Ontology’s ecosystem lead for the Americas and an advisor to Wing, told Cointelegraph that he believes two features make this DeFi project unique: cross-chain interoperability with Ethereum and the fact that lending is credit-based, allowing for loans to be under-collateralized. The system’s OScore analyzes each user’s on-chain behavior to generate a credit score. This then determines the amount of…

Chainlink 30% Rally Closes Record “Best” 2020 Daily Performance

Chainlink may be trading at half of its all-time high, but it just broke a new record – this time for its best single-day performance in all of 2020. With such an outstanding rebound from local lows making the early days of the rally look weak by comparison, is this a sign that Chainlink is ready to set its sights back on new price records next? Chainlink Sets Record For Best Intraday Performance In 2020 Chainlink has once again been the best performing crypto asset across the market for the…

Transformations in crypto exchanges and traditional institutions, Sept. 18-25

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The final scene of Animal Farm, Orwell’s classic fable of revolution gone wrong and a staple of secondary-school reading lists throughout the English-speaking world, features a card game. The pigs who run the farm with an iron hoof host the humans who have gone from enemies of the revolution to drinking buddies of the revolution’s leaders. The book ends with accusations of cheating and a metamorphosis realized. The pigs…

NFTs paint bright future for artists, blockchain tech

On Sept. 23, auction-house giant Christie’s announced plans to sell its first nonfungible token, or NFT, at an auction. This was just one week after the record-setting $100,000 sale at auction of a digital art piece that also used a blockchain-based token to vest the collector’s new ownership rights. Meanwhile, Anthony Pompliano, Morgan Creek Digital co-founder and partner, wrote on Sept. 21: “I personally believe that the digital art market cap will grow to become larger than the physical art market cap. This may sound ridiculous today.”  Clearly, the digital…