Day: December 2, 2020

Institutional investors wonโ€™t save crypto, but they will help it grow

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The state of the world economy has pushed institutional investors to look for alternative methods of investment. And more and more often, Bitcoin (BTC) is becoming such a tool. Since August, business intelligence firm MicroStrategy has purchased BTC worth a total of $425 million. At the same time, digital asset manager Grayscale Investments raised record amounts of money in both the first and second quarters of this year ($1.4 billion in total). But should we celebrate institutional investors as the โ€œsaviorsโ€ of crypto? Or, on the contrary, are they the…

The challenges of Eth2 staking, explained

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There are three key roles within the Stkr ecosystem. Providers deliver the computing resources that drive the Eth2 nodes — and they pay insurance that acts as a guarantee against poor hardware performance. These funds will be used to compensate stakers if there is an outage, but providers also stand to gain rewards if their infrastructure runs without a hitch. By building a good reputation, they are prioritized whenever new staking funds need to be allocated. Requesters, otherwise known as stakers, are those who want to lock up their ETH…

What Is Sharding?

โ€œShardingโ€ is a proposed method of splitting the infrastructure of Ethereum into smaller pieces with the goal of scaling the platform so it can support many more users than it currently does. Ethereum is the second-largest blockchain and was designed to make it easier to build decentralized applications that would give users more control over their finances and online data, among other envisioned benefits. The idea is these decentralized alternatives will spread, offering an alternative to apps โ€“ such as Robinhood or Twitter โ€“ that have a centralized point of…

Bitcoin Reaches a Juncture as Bulls Try to Thwart Selloff to $17,000

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Bitcoin has been facing some immense volatility throughout the past few days and weeks, with sellers stepping up and trying to invalidate the strength seen by the cryptocurrency as they hold it below the key $19,000 level. A sustained bout of trading below this level will certainly degrade its technical strength. Still, the intensity of each selloff seen following rejections at its all-time highs appears to be diminishing. This signifies that the cryptocurrency is growing technically stronger, as the series of higher-lows formed in the time since it plunged to…

Grayscale Ethereum Trust to implement 9-for-1 share split

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Digital asset manager Grayscale has announced a share split for its Ethereum Trust โ€” a move that could make the fund more attractive to individual investors.ย  In an official press release, Grayscale announced Wednesday that the split will be implemented on Dec. 17, with shareholders of record receiving eight additional shares for each one they currently own. To be eligible for the split, investors need to be on the shareholder record by Dec. 14. Grayscale says the fund currently has 29,502,100 shares at a value of 0.09284789 Ether (ETH) per…

Onchain Researchers Suspect Chinese Government Sold Plustokenโ€™s Billion-Dollar Bitcoin Hoard Last Year

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A number of masterminds from the Plustoken scam were sentenced to 11 years in prison for defrauding cryptocurrency investors. Last week, on November 19, a court ruling had shown the Chinese government said that it seized over $4 billion in crypto assets from the Plustoken scam. Meanwhile, onchain sleuths believe the Chinese government may have already sold a great number of the coins and simply added the proceeds to the central treasury. Plustoken Masterminds Sentenced to Up to 11 Years in Prison Just recently, a Jiangsu Yancheng Intermediate Peopleโ€™s Court…

Crypto Exchange Kraken Reveals 9 Favorite Altcoins Among VIP Traders and Expectations for Bitcoin As 2021 Approaches

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The crypto exchange Kraken is revealing the expectations of its top clients for Bitcoin (BTC) as the flagship cryptocurrency shows signs of strength heading into the new year. Krakenโ€™s 2H2020 Crypto Sentiment Survey, which gathered more than 350 responses from the firmโ€™s most active high-net-worth traders, shows that the crypto exchangeโ€™s topmost clients are expecting a lower price for BTC as 2020 expires. The price target for Bitcoin fell by 35% from $22,866 in the 1H2020 sentiment survey, which was published in February, to just $14,866 in the latest survey.…

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Bitcoin Intraday Volatility Explodes, But Historically Is Only Just Getting Started

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Bitcoin price is now once again trading around $20,000 and with it has brought about a surge in intraday volatility that the cryptocurrency market has yet to experience. However, according to a volatility measuring tool, this trend is only just beginning and will result in an explosive ride to the next bull market peak. Hereโ€™s why it is โ€œtime to pay attention.โ€ Legendary Analyst John Bollinger Calls Top In Bitcoinโ€ฆ For Now The leading cryptocurrency by market cap trading back around $20,000 has changed the game for crypto traders and…

Bitcoin, gold to benefit as Peter Schiff predicts โ€˜worst year everโ€™ for US dollar

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Bitcoin (BTC) may get fresh support for a record-breaking year in 2021 thanks to the demise of a familiar foe: the U.S. dollar. As various sources noted this week, the dollar is trading at almost three-year lows against various currencies and five-year lows against the Swiss franc. Analyst: Long-term trend โ€œclearly dollar weaknessโ€ Weakness in the dollar tends to translate into strength for Bitcoin, and 2020 has been the year in which the U.S. dollar currency index (DXY) has become a reliable yardstick for price direction. BTC/USD (black) vs. Gold…