Day: September 30, 2020

93% of the top 250 coins declined in price in September

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Over the last few months, DeFi protocols including Yearn.Finance, Compound, Synthetix, and Chainlink have seen their token prices go through the roof, sparking talk that the long-awaited bull market might be here.  The DeFi boom is built on Ethereum and propelled ETH’s price rise from $100 in March to $470 in August. However, the DeFi euphoria has been fading in recent weeks, and there is bearishness in the rest of the market too. For the past two weeks, ETH price has been hovering at around $350. And according to CoinMetrics,…

Ethereum Bears Hold Strong At $360: Indicators Show Risk of Downside Break

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Ethereum is struggling to clear the $360 and $365 resistance levels against the US Dollar. ETH price is showing bearish signs and it could dive below $350 and $345. Ethereum is still facing a heavy resistance near the $360 and $365 levels. The price is currently stuck near the $355 support and the 100 hourly simple moving average. There is a new connecting bullish trend line forming with support near $352 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower if it…

Devere Group CEO Predicts Bitcoin Can Replace Gold as Top Safe-Haven Within a Generation

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A few weeks ago, Devere Group CEO and founder Nigel Green said that he believed the U.S. election would bolster the price of bitcoin. Speaking with the financial broadcast MoneyFM on Monday, Green said he also believes that bitcoin will replace gold as the ultimate financial safe haven within the timespan of a generation. Devere Group CEO Nigel Green is a big believer in crypto assets like bitcoin (BTC) and he’s been more vocal about his forecasts in recent days. Last August, news.Bitcoin.com reported on Green explaining why he thinks…

Crypto Co-ops and Game Theory: Why the Internet Must Learn to Collaborate to Survive

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If the internet was a person, ARPANET was its first tooth, Facebook was the pubescent rage of middle school and Bitcoin was the key to its first car. Today, we find ourselves riding shotgun, unsure of what direction the internet will take next. There are those who feel we’re about to careen off a cliff, and others who write off the internet’s dangers as inevitable growing pains of innovation.  The internet allows us to work together while simultaneously incentivizing us to tear each other apart. That dynamic isn’t sustainable for…

Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $11K

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Bitcoin price is stuck in a broad range below the $11,000 resistance against the US Dollar. BTC is likely to decline sharply if it continues to fail near $10,800 and $11,000. Bitcoin is struggling to gain bullish momentum and it is well below the $11,000 resistance. The price is approaching the 100 hourly simple moving average and the $10,750 support. There is a major contracting triangle forming with resistance near $10,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either surge above $10,850…

Bulls target $11.5K, bears desire drop to $9.8K

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Bitcoin (BTC) price appears to be gearing up for another shot at the $11K mark but traders shouldn’t get overly excited as resistance in the $11,000-$11,200 zone and at $11,389 have kept the price from moving higher for the last few weeks.  Crypto Fear & Greed Index. Source: Alternative.me Currently the Crypto Fear & Greed Index registers 49 which shows crypto investors feel neutral about the current state of the market. While it’s difficult to gauge the accuracy of the indicator, Bitcoin price and volume have been relatively flat as…

StrongBlock launches DeFi protocol but token prices slump 70%

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Just-launched DeFi protocol StrongBlock has announced the integration of Chainlink oracles — however its native token’s price tumbled 70% today.  The platform, founded by former members of the original EOS core team, was launched on Sept. 29. StrongBlock says that low quality and insecure blockchain nodes can be unreliable and provide erratic market data, especially if they get out of synch. The protocol’s core concept is to shift the emphasis away from rewarding validators, to rewarding node security, as a way to improve public blockchain performance. Bitcoin Cash evangelist, Roger…

Bitcoin’s Network Health Plunges as New Investors Stop Buying BTC

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Bitcoin’s price has been facing some turbulence throughout the past couple of days and weeks, with buyers and sellers being unable to catalyze any clear momentum in either direction. Earlier this week, bulls roared when they sent the crypto rallying up towards $10,800, but the resistance just above this price level slowed its ascent, stopping BTC from testing $11,000. Following a short bout of consolidation, the cryptocurrency eventually began drifting sideways, before facing selling pressure yesterday that sent its price plunging down to lows of $10,500. Although it subsequently rebounded…

Chainlink Downtrend Could Continue Toward New Lows Despite Record Rebound

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Chainlink recently saw a record-breaking rebound, closing an intraday rally with more than 30% gains on the day. The recovery kept climbing but has since turned around at the top of a downtrend channel that thus far has been holding. Will the downtrend take the cryptocurrency lower? And what other factors back up any theories predicting more downside in the altcoin ahead? Chainlink Downtrend To Deepend, Following Record-Breaking Rally And Rejection Last week, after sweeping lows, Chainlink rebounded from under $8 back up to over $11 at the local high.…

Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

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The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the $11 billion landscape by over 18%. Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped $11 billion. The dex Uniswap is dominating the defi landscape by 18.65% with over $2 billion TVL to-date. Uniswap is followed by Makerdao ($1.9B), Aave ($1.56B), Curve.fi ($1.22B), and the…