Day: August 1, 2020

Japan’s Dormant BTC Trading Accounts Wake up as Bitcoin Price Rallies

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Japan’s “dormant” crypto accounts are starting to see activity as Bitcoin breached a critical price resistance level this week. According to the Japanese crypto exchange Coincheck, their trading volume this week has risen by two to three times in comparison to the previous one.  Speaking to a selected number of the Japanese outlets, Yusuke Otsuka, the co-founder of Coincheck explained that existing users who hadn’t traded for a while became active again this week: “Some of our users already have accounts so the initial velocity is high.” If users already…

Break Out of Lockdown Gloom with Wacken World Wide, the Best Online Party of 2020!

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Wacken World Wide is the biggest virtual Metal Festival of our planet. Get ready for dozens of great shows and a stunning virtual stage. It’s barely halfway through to 2020 and suffice to say, it has not been a good year for many of us. Amid economic slowdown concerns, joblessness, health lockdowns and demonstrations, people from all over the world have had to suddenly deal with a whole new reality of staying at home, whilst fighting for their livelihoods, health and relationships amid worrying trends in the economy and society.…

Bitcoin Just Broke Past $11,500—and That’s Huge For Bulls

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Bitcoin is ripping higher once again. In the past few hours, the leading cryptocurrency has begun to test the year-to-date highs at $11,500. And just minutes ago, BTC reached a local high of $11,700 after an influx of buying pressure. It is unclear if this rally is sustainable yet: Bitcoin has yet to close above $11,500 on any longer-term time frames like the 4-hour, 12-hour, or one-day charts. Chart of BTC’s price action over the past 10 days from TradingView.com Analysts say that Bitcoin breaking past $11,500 increases the potential…

Total Value Locked in DeFi Hits New ATH of $4B

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The Decentralized Finance, or DeFi, industry continues its massive growth trajectory as the total value locked in the DeFi markets hits $4B, according to data from major industry website DefiPulse.com. Total value locked in DeFi markets, August 1. Source: DefiPulse.com DeFi markets refer to the use of blockchain, digital assets, and smart contracts in financial services like credit and lending to provide financial services without a need for a centralized authority. The new threshold means that a total of over $4 billion is now locked across smart contracts, protocols, and…

Coinbase Reviewing 19 Crypto Assets for Listing, Including Wrapped Bitcoin and Paxos Gold

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Crypto exchange Coinbase said Friday that it is reviewing 19 cryptocurrencies for possible listing. These new assets are: Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, Theta, Uma, and Wrapped Bitcoin (WBTC). Coinbase said the review process includes “significant technical and compliance review and may be subject to regulatory approval in some jurisdictions.” There’s no guarantee that crypto assets under review will gain automatic listing. “[Our] goal is to offer support for all assets that meet…

Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

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Another week, another round of Crypto Tidbits. It’s been an explosive week for the Bitcoin and crypto market, to say the very least. Bitcoin surged from under $10,000 to as high as $11,500 this week. Over the past seven days, the asset has gained approximately 20% — the best weekly performance in many months. Chart of BTC’s price action over the past two weeks from TradingView.com Bitcoin’s recent price action comes as a breath of fresh air for crypto traders, which had to deal with BTC flatlining in the $9,000s for…

Coinbase Takes DeFi Focus as it Looks to List 19 New Crypto Assets

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One of the biggest crypto narratives over the past few months has been decentralized finance — better known as “DeFi.” Coins pertaining to this segment of the blockchain space have gone parabolic and users of DeFi protocols have shot up. Coinbase, seemingly, is taking notice. The leading crypto-asset exchange announced that it is looking to add 19 altcoins in the near future. Much of those tokens are DeFi related. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin, DeFi Still in Vogue Coinbase Is Looking to List 19…

Bitcoin’s Next True Bull Trend May Not Start Until Q4 2020

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Bitcoin’s price is currently flashing signs of immense strength as it navigates up towards the resistance found within the mid-$11,000 region. The slight uptrend seen today that came about after it dipped to lows of $10,800 has allowed it to push against its 2020 highs of $11,400, and it does appear that further upside is imminent. Although it does appear that BTC could be positioned to enter a full-fledged bull run in the near-term, on-chain data suggests that it may first consolidate for a short period before it can begin…

Silver Fractal: Are Crypto Altcoins On the Cusp of an Explosive Surge?

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A fractal has been discovered in silver and altcoins that mimics the early days of Bitcoin. Silver is already on the move, starting to follow the fractal, but the crypto market is lagging behind. If – like Bitcoin has followed gold – altcoins continue to follow silver, an explosive surge is just around the corner. Fractal Foretells Explosive Breakout in Altcoins Based on Early Days of Bitcoin According to a fractal discovered by one crypto analyst, both silver and the total altcoin market cap appear to be mimicking early Bitcoin.…

Bitcoin Ends July at Highest Monthly Close Since 2017 Peak

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Bitcoin closed the month of July at $11,351, its highest monthly close since the bellwether cryptocurrency’s all-time high nearly two-and-a-half years ago.  Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Original