Day: August 28, 2020

Crypto market remains bullish as $1B in Bitcoin derivatives expire

boss

Bitcoin derivatives witnessed a major expiry event with a notional value of over $1 billion. Today, $272 million of Bitcoin futures expired on the Chicago Mercantile Exchange, while over 65,000 Bitcoin options contracts expired across Deribit, CME and OKEx, having a notional value of over $740 million. Usually, major expiry events bring about a considerable change in volatility and price that can be seen through derivatives volumes, open interest and even put/call ratios. The Bitcoin (BTC) derivatives market, consisting mainly of Bitcoin futures and options, has grown multifold in 2020.…

A new Cardano-based project is handling oracles a lot differently than Chainlink

boss

Cardano (ADA) is getting into data oracles ahead of the Goguen era that will add smart contract functionality, taking a different approach than Chainlink. The first oracles are being built in partnership with EMURGO, one of the companies in the Cardano ecosystem, and Ergo (ERG). The first two oracles are deployed on Ergo and provide price feeds for the two trading pairs: ADA/USD and ERG/USD. The new model introduces Oracle Pools, which are capable of incentivizing good and disincentivizing bad behavior. Ergo’s core developer Alexander Chepurnoy told Cointelegraph that the…

‘Sex sells’ – sex.crypto sells for 230 ETH

boss

Earlier today, the domain ‘sex.crypto’ sold for 230 ETH, or approximately $90,000 at press time. The domain extension .crypto is generated by Unstoppable Domains and is censorship-resistant. The transaction, which occurred on OpenSea’s token marketplace, was completed by a user named Maxstealth. Currently, he owns 196 .crypto domains in total. This individual or entity appears to be an Ethereum (ETH) whale, as the Ethereum address from which the payment was sent has received over 10,000 ETH. Currently, the account has only 1.75 ETH left, according to data from CrystalBlockchain. The buyer most…

Here’s How a Plummeting U.S. Dollar Boosted the Dow Today

boss

The Dow Jones rallied 120 points Friday. Jerome Powell’s push to boost inflation weighed on the U.S. dollar. Coca-Cola stock boomed despite announcing 4,000 layoffs. The Dow Jones rose on Friday as a weak U.S. dollar helped to buoy risk sentiment. Economists at ING are pessimistic about the upcoming August jobs report. Dow Rises as the Dollar Plummets All three major U.S. stock indices climbed, with the Nasdaq, Dow Jones and S&P 500 gaining around 0.4%. The Dow Jones rallied 120 points Friday. | Source: Yahoo Finance It was a…

The Cointelegraph Talks music panel starts now, watch here!

boss

Cointelegraph’s head of news, Dylan Love, is hosting three guests for a livestream on our YouTube channel about blockchain technology’s impact on the music industry. The event starts right now: check it out above, or head over to our YouTube page to watch it live. It’s increasingly difficult for musical artists to navigate promotion, distribution and getting paid after they record their music, but each of the guests on today’s show run blockchain companies that stand to change a little bit of everything for working musicians today. We are pleased…

Price analysis 8/28: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS

boss

Bitcoin and altcoins are holding key support levels, suggesting bulls will try to break above overhead resistance levels soon. In his speech on Aug. 27, U.S. Federal Reserve chairman Jerome Powell said that the central bank will allow inflation to stay above its 2% target level if the figure has been languishing below that level for a long time. Some analysts believe that this could mean no rate hikes for at least five years.   In response to the speech, the U.S.dollar index (DXY) resumed its downtrend while gold is trading…

Le’Veon Bell is More Trouble Than He’s Worth To The Jets

boss

Le’Veon Bell was a great running back during his time with the Pittsburgh Steelers. But that has not been the case since signing with the New York Jets. While his contract will make it tough to trade him, his lackluster play and issues with head coach Adam Gase may force the Jets to pull the trigger and get rid of him. Le’Veon Bell was supposed to be a game-changer for the New York Jets. He would give the Jets a legitimate run game and be an additional target for Sam…

Digital yuan doesn’t pose a threat to the hegemony of the dollar, says expert

boss

Eswar Prasad, a professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution, believes that even though China’s digital yuan will enhance the renminbi’s role as an international payment currency, it will “hardly put a dent” in the US dollar’s status as the dominant currency. In an opinion piece published in Project Syndicate, Prasad states that the Chinese government should keep reforming the country’s financial markets and remove restrictions on capital flow to put both China’s CBDC and national cross-border payments system in the global…

Adjusted TVL metric helps put DeFi growth in perspective

boss

A new metric published by DappRadar wants to paint a more reliable picture of how the decentralized finance ecosystem is growing. Called “Adjusted TVL,” the metric attempts to clean total value locked readings from any external influence — primarily price increases. Total value locked is often considered a measure of the popularity of a DeFi protocol and the sector as a whole. However, measuring it in U.S. dollars means that any token price increase will also drive TVL up — even though no new assets were committed to the protocol.…

From COVID Generation to Crypto Generation

boss

Last year, before a pandemic changed the world, surveys showed millennials and adult-age Generation Z respondents steadily developing a curiosity in cryptocurrencies if not buying into the bigger idea that the technology will transform money.  A Michelmores survey in the U.K., for example, found that 20% of affluent millennials – the cohort born between 1980 and 1996 – invested in cryptocurrencies, compared with just 3% for the general population. Meanwhile, an online Harris/Blockchain Capital poll found 60% of people aged 18-34, a demographic covering six years of Gen Zers and…