Bitcoin and altcoins are at risk of a deeper correction if they do not rise above their immediate resistance levels soon. Source link
Price analysis 9/23: BTC, ETH, XRP, BCH, DOT, BNB, CRO, LTC, LINK, BSV
Category: Bitcoin News
Colombian gov’t invites companies to trial its crypto transaction framework
The government of Colombia has approved on September 22 a pilot program that calls companies to test crypto transactions until December 31 within the regulatory sandbox just passed by the country’s financial watchdog. During a panel titled “Overview of the Regulation of Crypto Assets in Colombia,” Jorge Castaño, head of Colombia’s Financial Superintendence (SFC), revealed that companies wishing to trial crypto transactions should apply by the end of the year, as the pilot will run in 2021. The new regulatory sandbox was approved by the Ministry of Finance and Public…
Bloomberg suggests that Bitcoin should be $15,000 according to this adoption metric
According to the Bloomberg crypto newsletter, a key on-chain indicator suggests that Bitcoin (BTC) is currently greatly undervalued. Bitcoin active addresses, the 30-day average. Source: Glassnode. Bloomberg’s crypto analyst Mike McGlone believes that the recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active Bitcoin addresses, suggests a $15,000 price level for the asset: “The Bitcoin hash rate continues to increase and recently reached new highs. Also advancing are addresses used. A top metric for adoption, the 30-day average of Bitcoin addresses is equivalent to the…
Whales profit mightily from lucrative DeFi yield farming: Data shows
Decentralized Finance has taken crypto by storm providing holders with a wide range of options to earn high-yield returns on their crypto and stablecoin holdings. DeFi has not only led to huge rallies in the prices of governance and reward tokens like YFI and LEND but it has also given way to a new-found interest in cryptocurrencies. The release of liquidity protocols like Uniswap and Curve gave way to an explosion in DeFi, with even institutional clients gaining interest in acquiring yield on their crypto holdings. Now, the subsequent explosion…
Rise of DeFi wars? Uniswap’s UNI token airdrop starts a crypto rivalry
Uniswap’s new UNI token has created a buzz in the DeFi world, with over 13,000 users claiming their tokens within three hours of its launch. This move was in response to SushiSwap’s decision to migrate almost $1 billion of funds from Uniswap through a “vampire mining” attack, which is the migration of an exchange’s funds/liquidity to another source. This move by SushiSwap essentially sparked one of the more important rivalries in decentralized finance, led by Sam Bankman-Fried, CEO of crypto derivatives exchange FTX. Sam briefly took over SushiSwap from its…
Inside the blockchain developer’s mind: The upgradeability crisis
This is Part 1 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 2 on the vertical scaling crisis and Part 3 on the governance crisis as they go live on Sept. 24 and 25. It is our belief that there are three fundamental problems, or crises, that are standing in the way of blockchain adoption: upgradeability, vertical scaling and governance. In this article, we are going to explore the upgradeability crisis and how computer operating systems…
Uniswap 57% price crash marks ‘DeFi depression’ for SUSHI, CRV, UNI
In the previous weeks, the majority of the cryptocurrencies have seen a massive crash. Losses of 50-80% have been witnessed in the markets, particularly affecting the DeFi space. The major losers in the previous weeks were Curve DAO Token (CRV) and SushiSwap (SUSHI). Next to that, one of the biggest decentralized exchanges UniSwap (UNI) has also seen a substantial correction. Its token UNI dropped by 57% since its recent high at $8.65. Is the correction over for the DeFi sector, or will the crashes continue to last? Let’s take a…
Mass DeFi adoption is 3–10 years away
The majority of DeFi projects believe the industry is far away from maturity, but they are sure that mainstream adoption is likely to occur. This was disclosed on Sept. 21 when Cointelegraph Consulting released the results of a DeFi survey in “DeFi Adoption 2020: A Definitive Guide to Entering the Industry.” The survey showed that 48% of the top projects in the DeFi space expect mainstream adoption to arrive after three to five years, while 8% believe it might take longer than 10 years. Of all the respondents, 89% agreed…
Christie’s to sell its first non-fungible-token as part of epic Bitcoin artwork
Christie’s is set to sell its first nonfungible token in an upcoming auction of what has been characterized as “the largest artwork” in the history of Bitcoin (BTC). Art historian turned blockchain artist Robert Alice has created “Portrait of a Mind” — a monumental series of 40 paintings stretching over 50 meters in length. Drawing on the history of 20th century conceptualism as well as the founding myth of Bitcoin’s creation, “Portrait of a Mind” is a complete hand-painted transcription of the 12.3 million digits of the code that launched…
Booming African crypto adoption drives concerns over regulation
2020 has seen an acceleration in African crypto adoption, with the continent emerging as the second-largest region for peer-to-peer (P2P) trading, and two African nations ranking in the top eight of the Chainalysis crypto adoption index. However, the booming growth has caught the attention of Africa’s financial regulators, sparking concerns that a rush to introduce heavy-handed oversight could quell innovation in the local crypto industry. Nigeria has led the continent’s growth in 2020, posting weekly P2P volumes of between $5 million to $10 million, followed by Kenya and South Africa…