Day: October 1, 2020

Crypto prediction markets turn against Trump after first debate

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The first debate of the 2020 U.S. presidential election had no clear winner, but crypto-powered prediction platforms are having a field day.  Election futures on crypto derivatives exchange FTX boomed, with the platform’s CEO reporting more than $4 million in open interest trying to pick the winner between Democrat Joe Biden, and Republican Donald Trump. On FTX, Trump’s brash debate performance got a big thumbs down and drove a 10% crash in the price of futures contracts backing his re-election. Price of TRUMP futures on FTX: FTX Volumes on FTX…

Bitcoin “Hodlers” Control 63% of the Total BTC Supply, New Data Shows

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Bitcoin’s price action has done little to reassure investors of its near-term outlook, as the cryptocurrency has largely been caught within the throes of an intense bout of sideways trading over the past couple of weeks. This has led to the formation of a trading range between $10,200 and $11,200, with buyers and sellers largely reaching an impasse as it trades between these two range boundaries. The cryptocurrency’s trading volume has been diving lower throughout the course of this consolidation phase, which indicates that traders are moving to the sidelines…

Why Post Debate Stock Market Performance Could Be Bad For Bitcoin

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Last night, current United States President Donald J. Trump faced off against former Vice President and challenger Joe Biden in the first of three debates. Data shows, that following each debate, things have turned bad for the stock market, which could, in turn, mean even worse for Bitcoin. Here’s why the stock market tumbling due to debates demoralizing investors could also spell bad news for the leading cryptocurrency by market cap. Why The Debate Could Have a Bearish Impact On Bitcoin Last night, the two top Presidential candidates went head-to-head…

Maker (MKR) Surges 7% as Stability Fees Introduced, DeFi Regains Footing

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While decentralized finance (DeFi) has seen a strong surge in 2020, Maker (MKR), a token strongly tied to DeFi, has underperformed. The cryptocurrency, relative to its competitors, is underperforming; where Aave’s LEND and Synthetix’s Synthetix Network Token surged hundreds of percent in this year alone, MKR only saw a 20-30% move higher. The market may be changing its mind on MKR, though. The coin is up 7% in the past 24 hours and seems poised to see further growth as the fundamentals of the underlying MakerDAO protocol align in favor…

Did Prince William & Harry Really ‘Fall Out’ Over Sandringham Summit?

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A new “royal biography” claims to know what happened between Prince William and Prince Harry at the so-called “Sandringham Summit.” Robert Lacey, a royal biographer, says he got the “inside scoop” on what really happened. But how could he truly have known — and is this more of a cover for the future King? What really went on between Prince William and Prince Harry at the so-called “Sandringham Summit”? One royal biographer claims to know. Even though the details of this summit have never been made public, and there haven’t…

Katie Porter Obliterates Price-Gouging CEO

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Katie Porter was trending today on Twitter. A clip of eviscerating a pharmaceutical CEO spread gloriously throughout the internet. Porter has been calling out ‘the Man’ for years, and we’ve compiled her greatest hits. The world needs more Katie Porter. After watching Donald Trump’s blown fuses and Joe Biden’s faulty wiring during last night’s debates, we could all use a nice clip of a bad guy squirming. And Porter is no Chris Wallace. She doesn’t let her victims off the hook like the hapless debate moderator. Katie Porter Has Her…

Here’s Why Uniswap’s UNI May Be Far from Forming a Long-Term Bottom

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Uniswap’s governance token – dubbed UNI – has been struggling to form a long-term bottom, as each rally results in it seeing significant selling pressure that stunts its growth and leads to further downside. This has led to the token seeing choppy price action, which has generally favored sellers. Bulls are now trying to slow the cryptocurrency’s descent and form a base of support around $4.00, but it remains unclear as to how long this level may hold strong. One trader, while speaking about the cryptocurrency’s near-term outlook, explained that…