Strong trading incentives have “cannibalized volume” from other DEXs, said one analyst. Source
Decentralized Exchange Volume Rose 103% in September to Record $23.6B Even as Growth Consolidated
Day: October 1, 2020
Messi Is Now the Weak Link in Champions League Rivalry With Ronaldo
Messi and Ronaldo will face each other twice in this season’s Champions League group stage. Messi used to boss Ronaldo in this competition, but now he’s the weak link. Ronaldo and Messi are both under increased pressure to prove they can still deliver at this level. The UEFA Champions League is Cristiano Ronaldo country, and Lionel Messi is just visiting. Messi gets to visit twice this season when he and Barcelona face Ronaldo’s Juventus home and away in Group G. Messi vs. Ronaldo x2 makes Group G the one to…
Yearn.finance (YFI) Posts Massive Short Squeeze Following Surge in Open Interest
Yearn.finance (YFI) has been facing heightened volatility as of late, with bears attempting to capitalize on recent drama surrounding one of the projects that Yearn’s founder is working on. However, the cryptocurrency’s descent now appears to be slowing slightly, with bulls posting an ardent defense of $22,000 – a price that was visited during a sharp decline yesterday evening. It is important to note that the drama surrounding Eminence – an NFT card game project being created by Yearn.finance founder Andre Cronje – has since faded, which could help alleviate…
Market Wrap: Blame BitMEX as Bitcoin Dumps to $10.4K; Record Month For Ethereum Fees
Derivative exchange BitMEX’s legal issues with U.S. regulators took a toll on bitcoin’s price while DeFi gave Ethereum miners more fee revenue than ever. Bitcoin (BTC) trading around $10,582 as of 20:00 UTC (4 p.m. ET). Slipping 1% over the previous 24 hours. Bitcoin’s 24-hour range: $10,427-$10,931 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since Sept. 29.Source: TradingView Bitcoin’s price was as high as $10,932 on spot exchanges such as Coinbase before quickly plunging 4% within two hours to…
Bitcoin Posts a 66-Day Consecutive Streak Above the $10K Price Range
The Bitcoin network has achieved a few new milestones during the last week, as the price has remained above the $10k range for a record 66 consecutive days. Meanwhile, the network has surpassed 18.5 million bitcoin issued, as the global hashrate coasts along at an all-time high of 140 exahash per second (EH/s). As of today, October 1, 2020, bitcoin (BTC) has closed above the $10,000 price range for 66 straight days. The last time BTC saw the price stay above $10k consecutively was on December 1, 2017, when the…
Self-Sovereign Identity Will Reshape the Internet (if You Use It)
Brace yourself for a concept that will feel jarring, an idea that will clash with everything you know about 2020, and a philosophy that will feel downright unthinkable: Optimism. Many internet 2030 scenarios are bleak. (See other entries in our “Internet 2030” series). Here we imagine a brighter online future: What if we “owned our identity,” meaning you have some kind of digital passport (or wallet) that proves you are you, not some imposter, and that this passport is secure, easy to use, and widely accepted in all corners of…
Bitcoin Sees 3rd Quarterly Close Over $10K, 3 Reasons This Time will Hold
Bitcoin just closed the 3rd quarter of the year with its best-ever performance, marking the third of only three quarterly finishes over $10,000. All good things come in threes, so here are three reasons why this the third time is the charm, and the cryptocurrency will hold strong above the clearly critical level. Bitcoin Closes 3rd Quarter Above Resistance, Can It Hold Above $10K Support? The first-ever cryptocurrency had a tremendous second and third quarter of 2020, after plunging to $3,800 as Q1 came to a close. At the start…
Bitcoin Starts Shrugging Off BitMEX Bombshell, Recoups Nearly Half of 4% Price Dip
Bitcoin traders have begun recovering from Thursday’s bombshell indictments from the U.S. Commodity Futures Trading Commission and Department of Justice against BitMEX and the exchange’s co-founders Arthur Hayes, Benjamin Delo and Samuel Reed, and Business Development Lead Greg Dwyer. Original
Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades
Shenzhen’s stock exchange, one of the biggest exchanges in the Asia-Pacific region, announced that they have co-launched a blockchain solution for trading with unlisted private-sector companies. This new platform was created as part of the Beijing Regional Trading Center. The report also indicated that the platform will be co-piloted with the Beijing Fourth Board Market, or BFBM — the city’s regional equity market. Both groups expect to “reduce the cost of information asymmetry, standardize corporate equity management, and better play the function of market equity financing” by integrating blockchain technology. Ge…
3 reasons why the CFTC action against BitMEX will not crash Bitcoin price
Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred as authorities announced the arrest of Samuel Reed, one of the co-founders of BitMEX. BitMEX has been the most dominant Bitcoin futures exchange for a long time, at least until March 2020 when the massive $1 billion Black Thursday liquidation pulled the price below $3,750. In recent months, new competitors like Binance Futures and ByBit…