US macro events unlikely to fully derail Bitcoin price gains

Tech-heavy stock market indices, including the Nasdaq Composite and the S&P 500, have begun to recover. Amazon posted high pandemic sales that led profits to climb threefold and reported a 37% spike in revenue. Facebook also surpassed Wall Street expectations, achieving $21.5 billion in revenue during the third quarter. Although the correlation between Bitcoin and U.S. stocks has declined in recent weeks, the probability that the rising risk-on market sentiment could buoy BTC remains high. As Kevin Svenson, a chartist at Kraken’s Cryptowatch, explained, the market direction between Bitcoin and…

Future elections could be held on the Cardano blockchain, says Hoskinson

In an interview with Cointelegraph, Charles Hoskinson suggested that a Cardano-based solution might make blockchain voting possible for future national elections. He stated “Not only do I believe — we’ve been building the infrastructure for that.” Hoskinson acknowledged that the road to Cardano-based elections would be gradual and require a number of experiments. He suggested that it could start with third parties using the network for their primaries, before escalating to municipal and state elections. From there, he supposed the network could be utilized in national elections for countries that struggle with…

Tim Draper seeks to ‘DeFi‘ the venture capital business with Bitcoin

Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that Bitcoin will hit $250,000 by 2022. Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative: “I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative.”  Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related…

Data shows Bitcoin hodlers becoming more active

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, show that the Bitcoin Age Consumed experienced a large uptick with the recent price increase — a sign that tokens previously dormant are on the move.  The Bitcoin Age Consumed metric is found by multiplying the amount of tokens changing addresses on a certain date by the time since they last moved. It is an indicator of volatility, which often precedes a directional price shift. Over 79,955 BTC that were dormant for at least a year changed addresses on…

Governance remains highly centralized on many DeFi projects

A new report jointly developed by DappRadar and Monday Capital analyzes the token distribution and governance proposals seen in major DeFi protocols. Despite efforts to decentralize control in the yield farming phase, the researchers maintain that many projects — especially those with strong venture capital roots — remain highly centralized. The researchers analyzed projects like MakerDAO (MKR), Curve (CRV), Compound (COMP) and Uniswap (UNI). All present a significantly skewed token distribution that favors large holders. The analysts noted that Maker governance appears to be the most mature of all, owing…

JPM Coin debut marks start of blockchain’s value-driven adoption cycle

On the heels of PayPal announcing its decision to enter the crypto sector early next year, Bitcoin (BTC) has continued its strong performance and has been hovering around the $13,500 mark for nearly a week now. In this regard, the payment giant’s foray into the crypto market has been hailed as a game changer, especially when it comes to improving the mainstream perception of the digital asset industry as a whole. Not only that, JPMorgan Chase announced that its native digital currency offering — the JPM Coin — has finally…

Bitcoin, Tether Trades at 30% Discount on OKEx as Users Flee Exchange

Key Takeaways Cryptocurrency withdrawals on the Chinese-based OKEx exchange have been suspended for two weeks.  Reportedly, the Chinese police ordered the suspension of withdrawals on the exchange after it brought its owner Xu MingXing into custody.  Bitcoin and USDT are trading at a 30% discount on the exchange as customers lose trust in the platform.  Share this article Live updates from OKEx on the situation of pending withdrawals reads: “funds remain safe and unaffected” despite nearly two weeks of suspended trading. The owner of the crypto exchange Xu MingXing continues…

INX to boost its $117M IPO with token listings on global exchanges

INX, a global digital asset trading platform, is expanding its ongoing initial public offering with listings on exchanges worldwide. In a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token. The listing application is subject to the approval of the CSE, according to an Oct. 30 announcement from INX. According to INX’s representatives, the company expects to list the INX token on many other global exchanges, while the CSE is the first expected. “This will provide…

Russia’s Gazprombank gets green light for crypto custody in Switzerland

Major private-owned Russian bank Gazprombank has received regulatory approval to launch cryptocurrency custody services through its Swiss subsidiary. According to an official announcement on Oct. 29, the bank scored approval from the country’s financial regulator, the Swiss Financial Market Supervisory Authority, to offer crypto custody and trading services to its institutional and corporate clients. Offerings will initially be restricted to a select group of customers with Bitcoin (BTC) as the only supported cryptocurrency. Gazprombank plans to gradually expand the offering to include additional cryptocurrencies as well as other related products…

A Break Below This Support Would Send Ethereum Into a Spiral

Key Takeaways A technical break below an ascending channel trend line signals a potential near-term trend change. On-chain data analysis shows ETH/USD continues to face downside pressure followed with a decrease in Ethereum activity. $80 million of Ethereum options expire today. Share this article Ethereum is facing fresh sell pressure after the cryptocurrency failed to make a new monthly high earlier this week, incurring a heavy technical rejection from the $412 resistance zone.  Failure to Launch Gives, Ethereum Bears Catch Up ETH’s current price has so far found technical support…