Day: August 2, 2020

Data Shows Bitcoin, Stablecoin Whales are Making Big Moves into Exchanges

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Exchange data from this week shows Bitcoin and stablecoin whales alike are moving huge amounts of their holdings into exchanges – suggesting bigger moves for the crypto market ahead. Bitcoin, Stablecoin Inflows Surge The crypto-bullrun is back, and some say it’s stronger than ever before. While this sentiment remains to be proven, what’s seemingly apparent is that crypto bigshots are plotting a move in the market in the coming weeks. Ki-Young Ju, the CEO of on-chain data and charting firm CryptoQuant, tweeted Friday that BTC whales are sending Bitcoins to…

OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity

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Recent digital asset custody clarity from the U.S. Office of the Comptroller of the Currency, or OCC, will likely affect institutional investors more, according to OKCoin CEO Hong Fang. “The biggest impact will potentially be on institutional investors,” Fang told Cointelegraph. She added: “Retail investors have a much wider range of existing choices (and preferences). I look forward to seeing more banks becoming more open to crypto, with potentially better banking channels, more public awareness, as well as more regulatory clarity. A better user experience ultimately wins.” The OCC brings…

With Bitcoin Gaining Ground, Is the Altcoin Season Coming to an End?

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Bitcoin has finally woken from its two-month slumber, as well as interest in the number-one cryptocurrency along with it. Bitcoin futures trading is bustling again, with both volume and aggregated interest at their highest since the March market crash. So, with all the action going on in Bitcoin (BTC), does this mean that the altcoin season is coming to an end? Maybe not. Bitcoin surges as altcoins correct  During a long period of inaction in Bitcoin, which saw traders growing bored and spot and derivatives trading on the decline, there…

Why Trump Banning TikTok May Be a Blessing for Bitcoin Price, Adoption

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Yesterday saw many major altcoins rally to their yearly highs, with Ether (ETH) surging past $400, which I expected was a likely scenario in my last article two weeks ago.   In addition, XRP also had a bumper day exceeding $0.32 while momentarily outperforming Bitcoin as expected in my July 1 article.  However, Bitcoin showed its dominance in the space by wiping out several billion of these gains in a little over an hour. So what does the week ahead look like, and just what sort of impact could Trump’s TikTok…

Tokenizing Can Make Donations More Effective

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A system in which health officials would be able to track blood donations from vein-to-vein in real-time, given the complexities of the blood supply chain, may sound impossible. However, using blockchain technology to track and trace blood supply chains may turn this idea closer to reality.  The American Red Cross estimates that someone in the United States needs blood every two seconds. The organization further announced that it’s facing a severe shortage of blood, particularly that of convalescent plasma — a type of blood donation that contains antibodies collected from…

What Future Are We Building for Bitcoin?

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A reading of Meltem Demirors new essay “Unintended Architecture” asks some key questions about intention setting for the future of Bitcoin. Bitcoin started as a rebellious, anti-establishment technology. In many parts of the world, and for many people, it remains exactly that.  At the same time, however, there is a wave of traditionalists and institutional players moving into the space.  Are they buying into the revolution, or are they trying to capture value while fitting the disruption into a box that maintains the current power structure they lead?  Those are the…

Flash Crash: Bitcoin Price Slides by $1.4K in Minutes

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Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market. 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

$20,000 Won’t Pose Any Resistance for Bitcoin Price, Says Max Keiser

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According to Heisenberg Capital founder and Keiser Report host Max Keiser, the price of Bitcoin (BTC) would soon rally to $28,000. He believes the all-time high of BTC at $20,000 likely won’t act as resistance. Keiser, who is an early investor in unicorn Kraken and $100-million-worth Bitstamp, said: “The $20,000 level for #Bitcoin won’t pose any resistance. We won’t see any resistance till $28,000. A brief pullback then the assault on $100,000 begins with renewed vigor.” In the past 12 days, the price of Bitcoin has increased from $9,200 to…

Today’s Cryptocurrency Trusts and Hedge Funds Amid Financial Crisis

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On July 22, 2020, the United States Office of the Comptroller of the Currency published a letter clarifying that national banks and federal savings associations can indeed take custody of cryptocurrency assets. In the letter, Bitcoin was also acknowledged as “the first widely-adopted cryptocurrency.” On the same date, VISA, one of the largest payment companies with access to over 61 million merchants globally, revealed plans to offer Bitcoin (BTC), Ether (ETH) and XRP payments. These steps toward mainstream acceptance come at a fortuitous yet harrowing time for world economics. Unprecedented quantitative…

Why Banks Are the Key to Crypto Adoption in the United States

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While countries are recognizing cryptocurrencies as legitimate forms of currency, it seems that the future of crypto adoption has never been brighter. Cryptocurrency is about to become more accessible, thanks to a new mandate by the United States Office of the Comptroller of Currency (OCC). Now, National Banks and Federal Savings Associations “of all sizes” can provide cryptocurrency custody to customers. According to the letter, these spaces have had permission to store digital assets since 1998, and cryptocurrency will be an extension of that. Of course, this could mean more…