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…

Institutional investors plan to buy every Bitcoin price dip, data suggests

A new survey commissioned by crypto asset insurance company, Evertas, a cryptocurrency insurance firm, found that institutional investors plan to significantly increase their stakes in Bitcoin (BTC) and other digital assets in the future. After surveying 50 institutional investors that collectively manage over $78 billion in assets in the United States and United Kingdom, a standout response was that 26% of participants believe that pension funds, insurers, family offices and sovereign wealth funds will raise their stakes in cryptocurrency “drastically”. 64% of participants believe the increase in interaction will be…

US Space Force taps blockchain firm Xage Security for data protection

The recently created United States Space Force, or USSF, and the U.S. Air Force Research Lab has chosen blockchain firm Xage Security to develop data security systems. In a statement, Xage Security said it was awarded a contract to provide end-to-end data protection for the USSF. The company will employ its blockchain-based Xage Security Fabric solution for the project. The company said Xage Security Fabric has a unified platform that can secure all systems and removes single points of entry so hackers can’t wipe information. It will allow the USSF…

New Bitcoin bull run? Whales and institutions accumulating, data shows

As the price of Bitcoin (BTC) breaks past $11,100 on Sep. 19, whale activities and Bakkt’s all-time high volume suggests strengthening momentum. The 4-hour price chart of Bitcoin. Source: TradingView.com According to CryptoQuant’s Ki Young Ju, fewer whales have been sending BTC to exchanges. Historically, the data indicates less selling pressure from high-net-worth Bitcoin holders. Simultaneously, the daily volume of Bakkt’s institution-focused Bitcoin futures market achieved a record high. Operated by ICE, the parent company of the New York Stock Exchange (NYSE), Bakkt facilitates BTC trades for institutions. The Bitcoin…

Despite Cautiously Rising, On-Chain Data Says Bitcoin Is Due for a Steep Correction

Key Takeaways Bitcoin broke out of an ascending triangle, suggesting an upswing towards $11,400. Although there isn’t any supply barrier ahead that could hold surging prices at bay, data shows that large investors have been offloading their BTC. Meanwhile, a particular technical index is flashing sell signals on multiple time frames that could lead to a steep correction. Share this article The pioneer cryptocurrency continues trending upward despite mounting uncertainty in the market. While data shows Bitcoin has more room to go up, different metrics suggest that a correction may…

Polkadot indicator? Data shows Ethereum price follows it to the DOT

Market capitalization and ‘flippenings’ happen to be important reflections of value for many crypto pundits and investors. Anyone who’s been in the game since 2017 will recall the heated discussions revolving around the Ether (ETH) to Bitcoin (BTC) flippening and the same commotion was caused by Bitcoin Cash (BCH) and EOS flipping top blockchains as they moved into the top-5. Now traders’ attention has shifted to Polkadot (DOT) as the network is currently ranked top-5 cryptocurrency by market capitalization and it seems that its ascension to the top came out…

Polkadot DeFi developers may soon get a new oracle provider with historic data

Distributed storage project Bluzelle will be collaborating with the Web3 Foundation to bring its oracle system for use in the Polkadot decentralized finance ecosystem. The project formally announced on Sept. 15 that it would integrate its services with the Polkadot network, specifically its price oracle solution that could be used by DeFi projects building on the network. Bluzelle is a distributed database system featuring a set of validators committing their stake to ensure the validity of the data and associated changes. The project has recently turned to the oracle space,…

Digital Assets Data CEO says mainstream finance still doesn’t trust Bitcoin

Following the news of Fidelity Investments’ Bitcoin (BTC) fund filing, Mike Alfred, CEO of analytics outfit Digital Assets Data, described continued hesitancy in mainstream finance when it comes to Bitcoin.  “Many in the traditional financial services/asset management/wealth management verticals remain deeply skeptical of Bitcoin and the ecosystem,” Alfred told Cointelegraph on Sept. 10. “One commenter on my LinkedIn yesterday even called Fidelity’s move ‘Abby’s folly,’” he said, which takes a shot at Fidelity CEO Abigail Johnson in reference to her activities and position as an early Bitcoin adopter.  A mainstream…

On-chain data signals increasing Bitcoin activity — But there’s a catch

According to CryptoQuant CEO Ki Young-Ju, over-the-counter (OTC) Bitcoin (BTC) deals might be occurring in a way that is similar to the pattern seen in February 2019. According to the on-chain analyst, this is historically a bullish sign but Ki Young-Ju cautious that the pattern is not ‘absolute’ and should not be relied on in isolation. Bitcoin transferred on the blockchain network hits a yearly high. Source: CryptoQuant Ki also noted that the number of Bitcoin transfers achieved a new yearly high and that these transactions didn’t come from exchanges.…

Crypto exchange volume data is becoming more reliable — but it’s still far from perfect

The Blockchain Transparency Institute, or BTI, has published its market data integrity report for 2020. This report found a threefold improvement in the quality of data on veteran crypto rankings site, CoinMarketCap.  “Only 31% of the [CoinMarketCap] top 25 is being wash traded compared to over 90% just 1 year ago, a 3x improvement with their new rankings system,” the report states.  Research for the report was compiled as part of “BTI Verified,” an initiative launched by BTI to analyze the problem of crypto exchange data being distorted by wash…