December 11, 2020

Wallets With Over 1,000 Bitcoin Have Hit Record Number: Chainalysis

December 11, 2020 boss

The popular narrative that institutional bitcoin investors have been leading the 2020 price rally looks to be backed up by on-chain data. In 2020, the number of wallets – defined as a set of blockchain addresses controlled by a single entity – holding at least 1,000 bitcoins has increased by 302 (17%) and is now at a record high of 2,052, according to Philip Gradwell, economist at Chainalysis. “That’s a big increase in the wealthiest wallets and provides evidence that institutional investors have entered the market,” Chainlysis noted in its…

BTC Price Down Below $18,000, Bitcoin Currently Trading at $17,690

December 11, 2020 boss

An investment analyst at OKEx exchange Robbie Liu holds the explanation that the current loss of investors’ interest in the asset is linked to the psychological battle between retail investors and whales. Bitcoin, after grabbing headlines with its insane performance of getting near its previous All-Time High, has taken a reverse direction leaving late investors at loss. The BTC price has taken steps back on multiple occasions after reaching a trading price of $19,689 on November 30, 2020. The price from this point took a further step back to hover…

World’s First Ethereum ETF Goes Live on TSX

December 11, 2020 boss

The Ethereum ETF is the first of its kind to be listed on a major stock exchange. It is backed by 3iQ with Gemini Custody Services managing the ETF. The Toronto Stock Exchange (TSX) on Thursday got its first Ethereum-based ETF. The fund, which made its debut at $10.80 per share, raised $76.5 million in its IPO and holds almost 134,000 ETH. This listing is a step towards bringing digital asset trusts to a new crowd of investors and traders. Canadian digital assets manager 3iQ was given the go-ahead for the…

Yearn Finance (YFI) Dips 25% in Five Days; More Downsides Ahead?

December 11, 2020 boss

Yearn Finance’s governance token YFI logged further losses in a bearish correction that saw its price crashing by 25 percent this week. The YFI/USD exchange rate plunged more than 5 percent on Friday to an intraday low of $22,030, further foreshadowing its 328 percent price rally between November 5, 2020, and December 3, 2020. So it appears, traders who profited from the YFI’s volatile upside move decided to secure their profits. The sentiment pushed the token’s per-unit prices lower. A “Conglomerate” in Making That happened despite the growth of Yearn…

There’s Still Some Steam Left in Tesla Shares, TSLA Stock Price Headed for $716

December 11, 2020 boss

While the technical charts are indication another $100 rally from the current rally some analysts have asked investors to maintain cuation and think that the company is highly overvalued at this stage. Tesla’s stock price surge has been unfathomable and unprecedented so far in 2020. Tesla Inc (NASDAQ: TSLA) stock has surged over 600% year-to-date and the rally seems to be stopping nowhere. TSLA stock continued its rally soon after Tesla announced its plans to raise $5 billion by selling more shares, earlier this week. As of Thursday’s closing, TSLA…

Bitcoin price correction continues, dashing hopes of $20K in 2020

December 11, 2020 boss

Bitcoin (BTC) continues to be in correction mode with BTC price dropping below $17,600 on Dec. 11, the lowest level since November. Bitcoin in a downtrend on lower timeframes Every beautiful rally comes to an end and gets followed by a corrective period. This correction seems to have started with the price currently down more than 10% since touching a new all-time high ten days ago. Meanwhile, some recent news namely the proposed crypto regulation in the United States is bringing fear to the otherwise euphoric market. However, other markets have also suffered…

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December 11, 2020 boss

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Twitter and Snap Unveils Platform Integration, TWTR and SNAP Stock Soar

December 11, 2020 boss

After the Snapchat integration, Twitter is going to launch such integrations with other social media platforms. Social media giants Twitter Inc (NYSE: TWTR) and Snap Inc (NYSE: SNAP) announced the integration of each other’s platform to allow for the sharing of contents. According to TechCrunch, both companies hope that through the integration, users from both ends can make a switch from the use of screenshots to share content from the other’s platform to have a much more interactive engagement. Per the report, the feature is currently available on iOS mobile…

Bitcoin Whales Buy High, Sell Low; Retail Investors Chase Rallies: Data

December 11, 2020 boss

Newly released data from crypto exchange OKEx gives one possible explanation of how larger holders of bitcoin – or “whales” – were able to influence prices as bitcoin rallied to a new all-time high in November. During that bitcoin run-up, institutions and whales were able to buy dips and oftentimes sell when prices went up. That left the majority of the retail investors scrambling to chase the rally, according to a newly released OKEx data report. Trading data of the bitcoin/tether pair on OKEx’s platform between August and November showed…

Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data

December 11, 2020 boss