Bitcoin Exchanges Report Massive Withdrawals as Price Eyes $12K-Retest

The amount of Bitcoin tokens held across all cryptocurrency exchanges dropped dramatically earlier this week. Traders withdrew over 110,000 BTC on August 3 – a day after the BTC/USD rate plunged from $12,000 to as low as $10,500. On-chain analyst Cole Garner theorized the outflow as a sign of whales buying the Sunday sell-off. A $1.23 billion worth of Bitcoin tokens moved out of all the cryptocurrency exchanges a day after BTC/USD fell $1,500. According to data fetched by CryptoQuant, Bitcoin balances on trading platforms fell from roughly 2.50 million…

Stocks Crash Can Stop $11.3K Bitcoin Price ‘In Its Tracks’ — Report

Bitcoin (BTC) is showing all the signs of further price gains but macro markets could still bring the bull run to an end, says Glassnode. In its latest weekly update, The Week On-Chain, the analytics firm sounded the alarm about an external force “halting this bull run in its tracks.” Glassnode: This may be the beginning of next BTC bull market As BTC/USD challenged $11,500, Glassnode revealed various network fundamentals, which pointed the way to even stronger price performance. Combined in its Glassnode Network Index (GNI) index, both liquidity and…

Ripple Q2 2020 Report: XRP Sales Increased 19-Fold

Sales of Ripple’s XRP token in Q2 surged after hitting a low in the first quarter, while the firm’s On-Demand Liquidity network remains popular. According to Ripple’s quarterly report released on August 3, sales of the firm’s XRP token were 18.6 times higher in Q2 2020 compared to Q1. The crypto firm stated XRP sales were $32.55 million from April to June this year, up from $1.75 million in the first quarter. The company has been criticized for propping up its balance sheet with XRP sales. Ripple said the sales…

Tech’s Antitrust Issues Flare Up on Both Sides of the New ‘Cold War,’ Report

Days after the CEOs of the world’s top tech firms faced antitrust hearings in the United States Congress, sources are alleging that Beijing too could soon probe its own digital monopolies.  A Reuters report published on July 31 cites anonymous sources who claim the People’s Bank of China has formally recommended that the State Council’s antitrust committee launch a probe into the activities of digital payments titans Alipay and WeChat Pay. The central bank has allegedly argued that both have used their ascendant position to stifle any possible competition in…

Staking Services a Serious Risk to Earning Passive Ethereum, Says Report

Key Takeaways Events in 2020 have revealed the dangers of centralized staking services, like exchanges. Threats include governance mishaps and a poor use of capital. In a new report, the Chorus One team has outlined a handful of alternative designs. Share this article After DeFi, Ethereum users are stocking up on Ether in hopes of earning passive returns via staking. But as exchanges and staking services emerge, these easy payoffs come with a serious cost. Major Risks to Staking Ethereum Ethereum’s most promising upgrade has been delayed once again despite promises of a…

New PwC and CV VC Report Highlights Blockchain in the Art World

Big Four auditor PwC and Swiss blockchain investment firm CV VC have released a preview for its new periodical report devoted to the blockchain in various industries. Published on July 21, the report provides an overview of the upcoming full release featuring the top global blockchain companies focused on implementing blockchain technology in art. The report was co-authored by PwC and CV VC with contribution of PwC Switzerland and Nicolai Reinbold, ecosystem and incubator manager at CV VC. As part of the upcoming full release, CV VC’s incubator CV Labs…

Bitcoin’s Correlation With Gold Is Weakening, Says New Kraken Report

Though Bitcoin’s (BTC) correlation with gold has diminished, the asset’s correlation with the S&P 500 stock market index is on the rise, researchers from Kraken exchange found. Kraken Intelligence, a research arm of major United States cryptocurrency exchange, Kraken, released a “Bitcoin Volatility Report” for June 2020. Bitcoin’s volatility hits a 6-month low Published on July 9, the new report outlines a 31% drop in Bitcoin trading that resulted in a six-month low of Bitcoin’s annualized volatility, which accounted for 51% in June. According to the report, the significant decline…

Bitcoin 90-Day Active Supply Soars to Pre-2017 Bull Run Level: Report

A new report analyzing on-chain activity says that Bitcoin (BTC) is now due for a bullish phase based on supply movements. Published by asset manager Stack Funds on July 2, the findings suggest that 90-day active supply is dictating bullish potential for BTC/USD. BTC price to rise “sooner rather than later” Publishing an accompanying chart for the metric, Stack argued that it has important implications for historical price behavior. “The data provides an indication of two folds. Firstly, the 90d % of Bitcoin active supply has tapered over the past…

Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility. In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs). Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June. Scams are often well-organized, big operations…

Crypto Research Report Predicts $397K Bitcoin Price by 2030

A new report from a crypto research group suggests that the price of Bitcoin could approach $400,000 in the next ten years, with altcoins following its bullish example. According to the June 2020 edition of the Crypto Research Report, researchers predicted the price of Bitcoin (BTC) and other altcoins — Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Stellar (XLM) — would get a huge surge before 2025, which may continue for at least five years.   “We believe that Bitcoin is still at the very start of its adoption curve,”…