What Ethereum killer? On-chain data shows competitor networks are still behind

Ether (ETH) remains the second-largest cryptocurrency and it absolutely dominates the smart contract industry according to an array of network usage metrics. Even though the network has been overwhelmed by peak activity which is causing median fees to surpass $10, the network effect of its large user and developer base seems to be enough to sustain its position as the second ranked cryptocurrency by market capitalization. Nevertheless, some key on-chain metrics are beginning to show a potential change in Etheruem’s supremacy, which raises the age old question of whether an…

Bitcoin whales are accumulating BTC around $48K, on-chain data suggests

Whales are continuing to accumulate Bitcoin (BTC) despite the price more than doubling so far in 2021, according to the latest data from CryptoQuant. This trend indicates that the confidence in Bitcoin is strengthening as the price is now attempting to stabilize above the $50,000 level. Why whale confidence is important During bull cycles, whales can take profit on their positions, especially if the futures market is highly overcrowded. Whales selling their holdings to rebalance their portfolios can cause massive price swings in the market, especially when accompanied by cascading…

Oracle wants to bring blockchain to the masses through a crypto-secure data offering

While blockchain is known for bringing trust and transparency to multi-party workflows, it can also ensure the immutability of business-critical data. Realizing this potential, technology giant Oracle has announced a crypto-secure data management offering that will be provided as a free feature for Oracle converged database users.  Juan Loaiza, executive vice president, Mission-Critical Database Technologies at Oracle, told Cointelegraph that it’s become apparent that customers deploying blockchain solutions often do not require the full capabilities of these implementations. Loaiza also pointed out that the complexity of introducing a completely new technology stack into an…

Far-Right Website Gab Suffers Data Breach in Major Hack 

Key Takeaways Gab has reportedly been hacked by Distributed Denial of Secrets. Distributed Denial of Secrets says more than 70GB of data has been breached, including Donald Trump’s account on the site. Popular among Bitcoin supporters, the right-wing website was briefly closed following a crypto-related scam in February. Share this article More problems for Gab: the alternative social media platform appears to have been hacked over the weekend.  Gab Hit by Hack  Gab, a self-styled “Free Speech Social Network” whose user base includes far-right supporters and Bitcoin enthusiasts alike, has…

Bitcoin price ‘macro top’? Not so fast — data shows the real FOMO isn’t even here

Bitcoin (BTC) bears thinking that $58,000 was this cycle’s top will be sorely disappointed, fresh investment data from past bull markets shows. Compiled by on-chain analytics resource Whalemap, statistics covering BTC buys of between $5 million and $7 million conclude that even at recent all-time highs, Bitcoin was far from a “macro top.” “No FOMO in sight” for BTC During the 2017 and shorter 2019 bull market, Bitcoin saw mass buy-ins of a similar size — $5-7 million.  When investments of that amount hit a peak, price action began to…

Bison Trails’ new Polkadot API promises faster access to data

Bison Trails, a blockchain infrastructure company that was recently acquired by Coinbase, has launched a new Polkadot API that could allow developers to build their applications much faster. Beginning Thursday, Bison Trails customers will be able to leverage Polkadot Indexer, a new protocol that allows users to retrieve and query all types of blockchain data much more efficiently. On a technical level, Polkadot Indexer allows users to pull data with significantly fewer requests to their nodes. Bison Trails claims that for very active accounts, the Indexer can save upward of…

People who bought Bitcoin in 2017 becoming the strongest HODLers, new data shows

Bitcoin (BTC) may be worth almost three times more than at the height of its 2017 bull run, but a lot of hodlers from that time refuse to sell. The latest data from Bitcoin financial services firm Unchained Capital shows that 2017 buyers control an increasingly large amount of the BTC supply. 2017 hodlers are not “weak hands” According to Unchained’s HODL Waves chart, which ranks the supply according to when coins last moved, those who bought three to five years ago are sitting on their investment. Since the cross-asset…

Bitcoin mining operator Northern Data reportedly considering $500M IPO

Major European Bitcoin (BTC) mining company Northern Data is reportedly considering going public in the United States. Germany-based Northern Data is planning to raise up to $500 million in the initial public offering, or IPO, Bloomberg reported on Feb. 22. The company is working with Swiss investment bank Credit Suisse to proceed with the IPO, anonymous people familiar with the matter told the publication. According to the report, the company is considering conducting a sale of new shares later in 2021, intending to boost Northern Data’s shareholder base as well as…

Data show bulls are in charge of this month’s $3.2B Bitcoin options expiry

After a 160% increase over the past 3 months, the open interest on Bitcoin (BTC) options reached a new record-high at $12 billion. While this number might seem unusually high, it makes sense that the figure would increase as Bitcoin’s market capitalization surpassed $1 trillion.  Deribit BTC options open interest in USD. Source: laevitas.ch Although Friday’s $3.2 billion expiry could negatively impact the market, these options are split among calls (neutral-to-bullish) and the more bearish put options. As shown in the chart above, Deribit exchange leads the market by holding…

Polkadot indicator? Data shows Bitcoin has been following DOT price for months

Polkadot (DOT) is seeing an impressive 180% gain in 2021 so far, surpassing XRP for fourth place by market capitalization.  Polkadot is a multi-chain protocol that has several “parachains,” similar to Ethereum Shards. DOT works on its proprietary technology called Substrate. The platform is fully interoperable between different blockchains while maintaining the ability to process thousands of transactions per second. Substrate 3.0, which will bring Ethereum compatibility, is expected to launch in the first half of 2021. Positive newsflow has been fueling the rally According to Polkadot creator Gavin Wood, the emergence…