DSD bear sells 5.5M tokens to ‘whale coalition’ with $83M in coupons set to expire

A coalition of DSD whales has bought out the biggest bear entity on the project allegedly responsible for consistently keeping the token price below the $1 peg. Posting on the DSD discord group, the bear in question “Escobar.eth” revealed, “I’ve executed an OTC deal officially and sold out 5.5m DSD to a whale group. I will not be impeding further expansion efforts.” One of the facilitators of the deal and a multisig holder on the project, who goes by @_wilske on Twitter, told Cointelegraph: “Escobar has been suppressing price for a…

Bitcoin’s biggest mining pool may be behind the BTC price drop, but buyers stepped in

Bitcoin (BTC) fell to lows of $28,950 on Jan. 22 thanks to miners likely selling huge amounts of their holdings — but big buyers made sure that the dip was minimal. According to data from on-chain monitoring resource CryptoQuant, the past few days saw vast outflows from mining pools, which in turn corresponded to BTC/USD shedding 20% in a week. F2Pool daily outflows hit 10,000 BTC Beginning Jan. 15, outflows from F2Pool — currently the largest mining pool comprising roughly 15% of total hash rate — in particular, began to…

Upbit launches in Thailand just days after regulators suspended Bitkub

Crypto exchange Upbit is entering the Thai market at a fortuitous time when the kingdom’s most popular exchange, Bitkub, remains suspended by government regulators. According to reports in local media, a joint-venture crypto exchange between Upbit APAC and a group of Thai billionaires launched operations on Wednesday, Jan. 20. It follows the regulatory suspension of the country’s most popular trading platform Bitkub on Monday, which had a reported 97% share of the market before its closure. Upbit Thailand is owned by CP Group heir and owner of Fortune magazine Chatchaval…

Crypto market cap falls by $113B as Bitcoin price tumbles to $28,750

On Jan. 21 the cryptocurrency market experienced an increased wave of selling pressure and within the last hour Bitcoin (BTC) price dropped below the $30,000 mark for the first time since Jan. 4.  BTC/USDT 4-hour chart. Source: TradingView Now that Bitcoin has lost the $32,000 and $30,000 support, a growing number of analysts are suggesting that the price could retest the $24,000 support. One theory behind the dip suggests that institutional investors viewed Bitcoin as a crowded trade and decided to take profits. As reported by Cointelegraph, Scott Minerd, the…

Crypto ETP capitalization up 90% this month as institutional volume triples

Capital has flooded into crypto investment products in recent weeks, with the value of assets invested into crypto exchange-traded products, or ETPs, increasing by more than 90% in the last 30 days. The spike in the assets under management, or AUM, locked in crypto ETPs was noted in the latest report by Crypto Compare, which estimates that almost $36 billion is now invested in crypto ETPs — a 93.7% increase in one month. Grayscale’s various trusts represent more than 83% of the sector’s total AUM, with the firm’s Bitcoin Trust…

Tarbert makes way for Biden’s CFTC chair, but will remain a commissioner

Heath Tarbert is no longer the chairman of the Commodity Futures Trading Commission, but he will remain one of its five commissioner In a CFTC announcement on Thursday afternoon, Tarbert followed through with his resignation, which he announced at the beginning of December. However, it was not clear at the time whether he would remain on the commission at all. Today’s announcement confirmed that Tarbert would stay on as a commissioner, with a term that formally expires on April 13, 2024. In listing accomplishments during his 18-month run as chairman of…

While China’s CBDC sets the pace, the yuan stumbles in usage abroad

Despite rapid advancement of a digital yuan, China’s progress in internationalizing its currency has stalled out in recent months.  Per data from SWIFT’s RMB Tracker released on Jan. 20, the Chinese yuan (CNY), also known as the Renminbi (RMB) had gained only .02% in international usage between December 2018 and last month. Meanwhile, it had fallen from 1.26% to 1.16% between November and December of 2020. Source: SWIFT While not a catastrophe, it’s nowhere near the numbers that China has become used to since making the internationalization of the RMB…

3 ways the next altcoin bull cycle will vastly differ from 2017’s

A recent report from CoinMetrics suggests that when a new altseason starts it will play out in a way that is vastly different from the market of 2017-2018.  According to the authors of the report, the arrival of institutional investors and their interest in Bitcoin (BTC) and Ether (ETH) has fundamentally shifted the cryptocurrency market landscape. Tokens with real world utility, Layer 2 technology or attractive staking ecosystems will outperform the large cap tokens from pre-2017. Bitcoin and Ethereum dominate but L2 tokens will catch up Institutional inflows firmly established…

Bitcoin whitepaper fight could end up in court as both parties escalate drama

The unfolding drama surrounding the ownership of the Bitcoin (BTC) whitepaper could very well make its way to the courts, after both sides embroiled in the dispute told Cointelegraph they’re ready to “go all the way.” On Jan. 21, the owners of two Bitcoin websites were threatened with legal action by lawyers representing Craig Wright, the man who claims to be Bitcoin inventor Satoshi Nakamoto. Wright claims to be the original copyright holder of the Bitcoin whitepaper, and demanded that both sites remove their locally hosted copies of the document…

As DeFi booms, Ethereum’s blockchain competitors are catching up

Ethereum is not the only blockchain platform seeing a significant increase in value as the decentralized finance space continues to move in tandem with the booming cryptocurrency ecosystem. The new year has continued to be good to the DeFi space, evident in the sheer amount of value that has been injected into various platforms. The value staked in DeFi protocols briefly surpassed $27 billion on Jan. 20, according to DappRadar, driven in part by the increase in value of a large majority of cryptocurrency tokens. Nevertheless, the space has seen…