Day: August 22, 2020

Offline Staking, Explained

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Unfortunately, it’s still the case that most staking, whether directly under a pure proof-of-stake model or indirectly using a delegated proof-of-stake consensus, is online. This usually means handing control of your cryptocurrency to a third party or delegating to a random service. Tezos (XTZ) would be the most similar model to offline staking, since its coins stay liquid and users can set up their own “baker,” or validator, but “bakers” are required to hold at least 10,000 to become a delegate, which costs close to $40,000 at current prices. Qtum…

Analysts Think the U.S. Dollar May Bottom—and That’s Bad for Bitcoin

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Bitcoin has been under pressure over the past three days after peaking at $12,500 earlier this week. Some argue that the retracement is purely based on technicals. But if you check the charts, there seems to be an evident inverse correlation between the value of the U.S. dollar (as calculated by the Dollar Index) and BTC. When the dollar rallies higher, the value of Bitcoin (and gold for that matter) has decreased. The drop to $11,500, where BTC trades as of this article’s writing, was seemingly spurred by a leg…

Bitcoin and Economic Uncertainty: Patience Is the Name of the Game

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The crypto market as a whole has made tremendous strides monetarily, even though Bitcoin’s price has so far failed to meet the lofty expectations. As whispers of Bitcoin’s (BTC) promised financial breakthrough failing to materialize over the last few months have continued to garner steam, the price of the premier crypto asset recently surged above the all-important $12,000 psychological threshold, only to once again slip right under.  However, as part of this development, the total cap of the crypto market reached an impressive $386.4 billion, a level only attained back…

Dave Portnoy Drops Bitcoin, Tether Supports Ethereum’s OMG Network, DeFi Still Hot

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Another week, another round of Crypto Tidbits. It’s been quite a week for the Bitcoin market. In the past seven days, the leading digital asset has traded at both $12,500 and $11,400, facing volatility due to crypto market trends and the macroeconomic trends. Bitcoin’s rally earlier this week came on a decisive break of the pivotal $11,900-12,000 resistance; BTC’s ongoing retracement has seemingly been triggered by somewhat of a bounce in the value of the U.S. dollar, along with selling pressure on spot markets. Ethereum has suffered worse than Bitcoin has,…

Money Reimagined: DeFi-ing History – CoinDesk

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To foretell the future of decentralized finance (DeFi), the exploding new field in which decentralized governance protocols set and execute the terms for lending, borrowing and stablecoin issuance, one should look to the past.  Specifically, look to Wall Street’s past.  By some measures, DeFi is nothing new. It extends a four-decade cycle of ever-more sophisticated financial engineering – from junk bond financing to collateralized debt obligations to algorithmic trading. These waves of technological evolution have delivered spectacular profits to some, giant losses to others and lasting change to Wall Street,…

Rich Dad Poor Dad Author Doubles Down on Bitcoin Amid Bank “Crisis” Fears

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On a global scale, few actually own Bitcoin. According to Robert Kiyosaki, the author “Rich Dad Poor Dad,” though, everyone should own the cryptocurrency ahead of the coming “banking crisis.” This comment is in line with the sentiment of an impending collapse in banking and in the fiat currency system that Kiyosaki has extensively shared since the pandemic began. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Robert Kiyosaki Continues to Tout Bitcoin Amid Fears of “Banking Crisis” Months ago, the tweets of financial educator and…

Here’s Why This Surprising Crypto Just Flipped Bitcoin Trading Volume on Coinbase

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The vast majority of the crypto tokens that have been seeing parabolic runs as of late are relatively new, being launched on platforms like Uniswap where traders are apt to throw money at projects related to the DeFi sector. One surprising “old” token that was popular in 2017 is now seeing parabolic momentum as well, with the cryptocurrency flipping Bitcoin trading volume on Coinbase and Bitfinex. After being somewhat dead for over a year, OmiseGo (OMG) is now going parabolic, with its price surging from multi-day lows of under $2.00…

Huobi Global Announces Measures to Strengthen Its Presence in Russia

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As part of its Russian expansion plans, Seychelles-based exchange Huobi Global appointed Vladimir Demin as the company’s chief advisor. His main role will be to help develop the company’s market in the region. According to the announcement, he had previously served as partner and CEO of Huobi Russia. Demin believes that market opportunities in the country for both crypto and blockchain “are huge”. He hopes to help Huobi Global to expand the high demand for crypto products in Russia. Huobi Russia’s trading volume reached almost 10% of Huobi Global’s total…

Time To Pay Attention: Indicator Hints At 50% Or More Correction In Ethereum

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Ethereum has been outperforming most of the crypto market. It was also among the best-performing mainstream assets to invest in, with the $1,200 stimulus check. Those who did, more than doubled their money by putting it into the smart-contract-focused altcoin. But it may now be “time to pay attention” as the creator of a popular technical analysis indicator, would say. The tool this wise trader and analyst created could be signaling that a between 50 and 70% drop in Ethereum is coming, according to how the tool is utilized. Bollinger…

Grayscale’s Litecoin and Bitcoin Cash Trusts Trade for Tremendous Premiums

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This week data from Arcane Research shows there’s been massive demand for Grayscale’s recently launched publicly traded crypto trusts. Following the trusts getting DTC eligibility last monday LTCN (litecoin) shares have been selling for a 753% premium while BCHG (bitcoin cash) shares have sold for a 351% premium. Grayscale Investments’ Litecoin Trust (LTCN) and Bitcoin Cash Trust (BCHG) are seeing intense demand since the official launch this past Monday. According to statistics from Arcane Research, LTCN was selling for a 753% premium while the BCHG trust was selling for a…