Day: October 13, 2020

Tim Draper’s Draper Goren Holm Raises $25M for Blockchain Venture Fund

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Venture capitalist Tim Draper’s investment office Draper Goren Holm is sinking larger investments in virtual currency-only startups. Draper Goren Holm, a cryptocurrency investment firm in Los Angeles, told CoinDesk that it raised $25 million for its first venture capital fund to buffer its startup accelerator and back blockchain companies at higher investment valuations.  The venture fund, announced last week, is planning to invest $250,000 to $500,000 in seed, Series A and a few later investment rounds, the firm said, whereas the accelerator funds pre-seed rounds for between $10,000 and $50,000…

Bitcoin volatility is worth the risk for institutions

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In a recently released report titled Bitcoin Investment Thesis, Fidelity Digital Assets demonstrated how portfolio managers could increase their returns by allocating a portion of their holdings to Bitcoin (BTC). The report also speculated that in the near future, increased institutional interest could expand Bitcoin’s market capitalization by hundreds of billions of dollars. Source: Fidelity Digital Assets. To support its thesis, Fidelity simulated sample portfolios starting with a default allocation of 60/40 between equities and fixed income instruments. They then diversified these with Bitcoin at a rate of 1 to…

Move Past $12,000 Will Ignite Bull Run to $16,500

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Bitcoin’s price action has grown stagnant over the past few days and weeks, with the cryptocurrency struggling to gain momentum as bulls and bears battle for control of its near-term trend. Last week, the benchmark digital asset incurred some serious momentum after news broke regarding Square’s acquisition of $50 million worth of BTC. This news seemed to confirm that the trend of companies holding Bitcoin as a reserve asset is gaining steam, which could provide the asset with further buy-side pressure in the near-term. Despite the overt strength this event…

Market Wrap: Bitcoin Slips to $11,300; Ether Locked in DeFi Is Flat

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Bitcoin’s price is slipping while the amount ether parked in DeFi is in neutral. Bitcoin (BTC) trading around $11,397 as of 20:00 UTC (4 p.m. ET). Slipping 1.3% over the previous 24 hours. Bitcoin’s 24-hour range: $11,313-$11,730 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Bitstamp since October 11.Source: TradingView Bitcoin’s price was able to crack $11,700 in the past 24 hours, going as high as $11,730 on spot exchanges such as Bitstamp. The world’s largest cryptocurrency by market capitalization then…

Diginex: An Early-Stage Cryptocurrency Exchange With High Aspirations

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On Oct. 1, Diginex became the first crypto exchange operator to list on Nasdaq. Although the business is still in its early stages, a look into Diginex’s operations and filings can give us deeper insights into the exchange industry, historically unknown to the public. CoinDesk Research presents an in-depth look into Hong Kong-based Diginex, the digital asset financial services company. Once in the business of cryptocurrency mining, Diginex sold most of those operations in 2018 and changed its focus to developing a digital asset financial services stack that includes an…

Here’s how to properly earn a DeFi sized yield trading Bitcoin options

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I recently caught wind of an interesting Cointelegraph article explaining how investors could earn 41% APY on their Bitcoin without converting it to renBTC or WBTC. In the article, the writer laid out a detailed case for generating yield on Bitcoin (BTC) holdings by investing in options markets instead of decentralized finance (DeFi) apps. While we are proponents of this exact strategy some of the explanations laid out in the article are more confusing than useful so I want to add a little clarity to the best way to execute…

Despite Crypto Rebound, This Analyst Still Expects $20 Ethereum: Here’s Why

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Ethereum, aside from Chainlink, is the best performing cryptocurrency in the top ten by market cap. The top-ranked altcoin has had enjoyed a substantial rebound from bear market lows and surged all throughout 2020 on the heels of the DeFi trend. But despite the greater crypto market recovery, one crypto analyst sees a bearish Elliott Wave count on Ethereum, that could take the altcoin back to double-digits, and just $20 per ETH. Easy As ABC Correction: Elliott Wave Trader Targets $20 Ethereum It sounds far-fetched to think Ethereum could revisit…

A System of Robot Drug Dealers on Telegram Allows People to Buy Illegal Products for Bitcoin

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There’s a new avenue darknet market (DNM) customers have found that allows them to purchase illegal wares 24 hours a day via a robot drug dealer hosted on Telegram. The platform dubbed ‘Televend,’ is an automated software program that peddles illicit narcotics for people paying with bitcoin and during the last few months, the complex system has grown massively. While many darknet markets have fallen to the wayside, a slew of new types of methods when it comes to selling illegal drugs online has risen. For instance, the world’s largest…