Day: August 9, 2020

BAND Token is Now Available for Trading on Huobi Global

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Band Protocol, the cross-chain data oracle platform, said that its token BAND has been listed on Huobi Global exchange. The company clarified in a press release on its blog that trading on BAND token will start on August 10. Huobi will support BAND/U.S. dollar, BAND/BTC and BAND/ETH trading pairs.  Regarding deposits, the company stated that they will be available from August 9 and for withdrawals, they will be available from August 10. The company noted that at present, withdrawals and deposits will be limited only to BAND-mainnet coins and that…

Ethereum Options Data Suggests Pro Traders Expect ETH Price to Break $400

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Ethereum (ETH) options open interest increased by 5 fold over the past three months to reach $337 million.  Although this figure pales in comparison to the current $1.8 billion Bitcoin (BTC) options market, Ether options have grown to reach the same size the BTC options market was roughly 15 months ago. ETH options open interest in USD terms. Source: Skew Options are divided into two basic instruments: calls, aimed mostly for bullish strategies, and puts, used chiefly on bearish trades.  This is a simplistic view, but it provides a bird’s-eye-view…

XRP Fractal Evokes Flashback of Crypto Bubble Bitcoin Outperformance

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XRP over the last month had some of the strongest week over week performance in the space. The third-ranked altcoin rallied by as much as 45% in one week, outperforming the rest of the entire crypto market. The asset often referred to as Ripple beating all other altcoins is the perfect underdog story after spending two years as the worst-performing crypto asset bar none. However, according to a potential fractal matching the 2017 crypto bubble, XRP may be about to go on a shocking rally that outperforms Bitcoin by a…

Minneapolis Fed’s Kashkari Calls for Stricter Lockdown

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The president of the Minneapolis Federal Reserve, who once claimed the Federal Reserve was flush with cash, called for a nationwide lockdown to fight COVID-19.  In an op-ed in The New York Times, Neel Kashkari and co-writer Michael T. Osterholm of the Center for Infectious Disease Research and Policy at the University of Minnesota said a more restrictive lockdown of up to six weeks is necessary to fight the virus and save the economy.  Kashkari and Osterholm said the U.S. “gave up on our lockdown efforts to control virus transmission…

Analysts Expect Parabolic Tezos (XTZ) Rally as Price Passes Above $3.40

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Tezos (XTZ) is breaking out despite stagnation in the prices of Bitcoin, Ethereum, and other leading major cryptocurrencies. The price of the community-favorite altcoin is up 10% in the past 24 hours, surmounting a pivotal resistance in the $3.40 region. Tezos’ ongoing breakout is convincing many analysts that more upside is in the works. Traders have been going as far as to say that the altcoin could literally double in the weeks ahead, citing similar explosive rallies in other altcoins like Chainlink (LINK). Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k,…

More Than 10,000 New Blockchain Companies Established in China in 2020

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Blockchain and crypto data platform LongHash revealed on August 8 in a tweet that China’s blockchain sector has grown substantially despite the pandemic this year. It stated that over 10,000 blockchain companies were established between January and July.  The report also shows the current number of blockchain-related companies in China is on track to surpass 2017’s total figure. LongHash said 2020 could also pass 2018’s total of 18,500 and for a new all-time high. Source: LongHash Tweet The figures show that there are 84,410 registered companies and, of these, 29,340…

Retail Investors are Flooding into Bitcoin as Likelihood of Explosive Rally Grows

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Bitcoin’s price has been caught within a strong uptrend throughout the past several weeks, although this momentum is showing some signs of stalling as the cryptocurrency consolidates within the upper-$11,000 region. Analysts are now noting that BTC may soon see a strong uptrend due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide Bitcoin with a strong base to grow upon and is indicated by the number of addresses holding over 1 BTC coupled with BTC’s expanding…

Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, XRP, XMR, XTZ

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Bitcoin and most altcoins are likely to remain range-bound for a few more days before resuming the next leg of the up move. The U.S. markets have rallied sharply from their March lows, led by the tech sector and Fed injections designed to hold up the ailing economy.  Markets across the globe have also joined the party as a steady economic recovery from the coronavirus pandemic picks up steam.  The fast-paced rally in global stock markets has pushed the Buffett Indicator into the bubble territory, which suggests that the markets…

Link’s Trading Volume on Coinbase Surpasses That of Bitcoin

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Chainlink’s link token, driven by the increased popularity of decentralized finance (DeFi), has surged past bitcoin, becoming the most traded cryptocurrency of the past 24 hours on Coinbase Pro, the biggest crypto exchange in the U.S.  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

Researchers Claim Crypto Exchange Hacks Happen in Three Ways

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Researchers at the Black Hat security conference revealed that crypto exchanges might be vulnerable to hackers. Although crypto exchanges have high privacy and security to protect their funds, researchers still found three ways hackers can attack these crypto exchanges, according to Wired on August  9.   The crypto exchange attacks were operating more like “an old-timey bank vault with six keys that all have to turn at the same time,” the report said. Cryptocurrency private keys were broken into smaller pieces. It means an attacker has to find them together before…