May 14, 2020

Bitcoin’s Price Has Bounced But Miners May Still Be Switching Off Post-Halving

May 14, 2020 boss

While bitcoin is fast reversing its pre-halving price drop, some miners still look to be leaving the network. At time of writing, the top cryptocurrency by market value is changing hands at $9,730, representing a 20% gain on the low of $8,100 observed Sunday – the day before Bitcoin underwent its third mining reward halving. The bounce has erased more than 75% of the drop from $10,500 to $8,100 seen in the three days to May 10. While the price has recovered a major portion of the lost ground, the…

Bitcoin Suddenly Drops After Filling $10K ‘Halving Dump’ Futures Gap

May 14, 2020 boss

Bitcoin (BTC) price briefly returned to $10,000 on May 14 as a fresh spectacular bullish surge entirely canceled out its weekend crash. Cryptocurrency market daily overview. Source: Coin360 Another BTC price crash disappears Data from Cointelegraph Markets and CoinMarketCap tracked BTC/USD as it rose to retake five figures on Thursday, gaining 13% in the past 24 hours. Resistance levels in the $9,000 corridor quickly fell as momentum built to send Bitcoin back to its position from last week. After reaching just below $10,000, a retracement took markets to press-time levels…

Glassnode Data Suggests Ethereum “Whales” Are Switching to Bitcoin

May 14, 2020 boss

Whales holding Ethereum (ETH) have decreased drastically in 2020, despite the currency’s surging prices and institutional adoption, if the latest data from on-chain analytics firm Glassnode is considered. Whales Fleeing ETH Bitcoin’s now-concluded halving saw the pioneer cryptocurrency’s price move from sub-$5,000 in January 2020 to over $10,000. Most digital assets followed suit, with large-cap currencies like ether and XRP posting over 50 percent gains. But Glassnode’s data suggests Bitcoin is the “flavor” for this year. An analysis of unique addresses holding upwards of 10,000 ETH felt to just 1,050…

HashCash Consultants to Streamline Drug Research and Clinical Trials with Blockchain

May 14, 2020 boss

HashCash Consultants, a US-based blockchain development company, has set its eyes on revamping the complex process of clinical trials and drug research by availing blockchain solutions. It intends to realize this by forming a pharma consortium with pharmaceutical firms and other medical players. Blockchain-enabled coordination It goes without saying that the drug development process is lengthy and complicated because it is subjected to clinical trials and regulatory approvals before a drug can be given the green-light for the market. For instance, new vaccines require intensive clinical research and human trials…

External Custody for Crypto Derivatives Aims to Make Collateral Transfers Faster

May 14, 2020 boss

Crypto derivatives platform Deribit is launching a new external custody solution designed to help with faster collateral transfers and reduce auto-deleveraging risks in tumultuous markets. On May 14, the Panama-based exchange announced its full integration of the new solution, which was developed by London-based digital asset infrastructure provider Clearloop. Deribit is catering the new solution to professional traders, claiming that such improvements in the crypto derivatives market structure will drive crypto adoption among institutional investors. How does Clearloop’s custody solution work and what are the implications for traders? The custody…

Bitcoin Downplays S&P 500 Correlation, Hits $9.7K as Gold Rise

May 14, 2020 boss

Bitcoin closed above $9,700 in hopes to wipe out its pre-halving crash amidst growing risk-off demand. The cryptocurrency broke its short-term correlation with the S&P 500 after the Federal Reserve gave a grim economic outlook. Instead, the BTC/USD exchange rate surged alongside its safe-haven rival Gold. Bitcoin extended gains a day after downplaying its positive correlation with the U.S. stock market. The top cryptocurrency jumped 4.28 percent to $9,705 ahead of London opening bell. Its move uphill came as a part of a more extensive upside correction from its May…

Bitcoin and Ether Market Update: May 14, 2020

May 14, 2020 boss

Total crypto market cap added $18.3 billion of its value since Monday morning and now stands at $256.2 billion. Top ten coins are all in green for the last 24 hours with Bitcoin (BTC) and Ether (ETH) leading the pack with 6 and 4.5 percent of gains respectively. At the time of writing Bitcoin (BTC) is trading at $9,437 on the Bitstamp daily chart, while ether (ETH) moved up to $199 and Ripple’s XRP reached $0.201. BTC/USD This week we celebrate the third BTC halving, which occurred on May 11.…

Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks

May 14, 2020 boss

Bitcoin (BTC) rose to reclaim $9,500 on May 14 as the recovery from last weekend’s $1,200 crash gained fresh momentum. Cryptocurrency market daily overview. Source: Coin360 BTC price up 11% in days Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD quash another resistance barrier in Thursday trading, taking 3-day gains to 11%. The past 24 hours alone has seen an uptick from closer to $8,900. At press time, $9,500 appeared to be holding, the level marking a $1,300 improvement versus a momentary wick to $8,200 during the crash. $8,200 marks…