Day: January 29, 2021

Grayscale is buying BTC 54% faster than it is mined so far in 2021

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Digital asset manager Grayscale is showing little signs of slowing down its Bitcoin accumulation, adding around 40,000 BTC to its stash since January 13. That’s around $1.36 billion worth of Bitcoin in just 16 days. The dramatic accumulation was noted by Rafael Schultze-Kraft, the CTO of crypto analytics firm Glassnode, who noted that only 26,000 BTC have been mined into existence since the start of the year. That means Grayscale has purchased Bitcoin at a rate that is 54% faster than new BTC supply has been created during 2021 so…

Ethereum Holding Key Uptrend Support, Why ETH Could Rally To $1,400

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Ethereum gained pace above the $1,300 level against the US Dollar, but it struggled near $1,375. ETH price is approaching a major support and it is likely to bounce back above $1,350. Ethereum faced a strong selling interest near $1,375 and corrected lower. The price is approaching the $1,300 support zone and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,305 on the hourly chart of ETH/USD (data feed via Kraken). The pair could test $1,292 before it starts a fresh…

Monstercat dance label sells $180K of musical NFTs in two minutes

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Major EDM record label Monstercat has highlighted how non-fungible tokens, or NFTs, can be a successful new revenue stream for artists and the music industry, generating $180,000 in the first two minutes of an NFT collection release. The collection consists of animated video clips with music backing and was created in collaboration with Australian-based digital artist Giant Swan, renowned for his use of VR technology, and Platinum producer Varien, who recorded “The Crown”. It was released on the Winklevoss-owned Nifty Gateway yesterday. The collection included 500 Constellations packs which were…

60% of Digital Asset Holders Store Funds on Exchanges While Half Derive an Income From Crypto – Security Bitcoin News

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Despite the risks that come with storing crypto assets with third parties, the findings of a new study suggest many cryptocurrency holders still trust exchanges with the safekeeping of their funds. Conducted by Binance Research, the study finds that 60% of “the general population store their cryptocurrencies on an exchange.” In contrast, 26% of the respondents use cold wallets and only 11% are using hot wallets. Security of Funds Remain a Key User Concern Dubbed the 2021 Global Crypto User Index, the study’s findings “are based on a global survey…

SushiSwap is eating into Uniswap’s market share following Yearn merger

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Following its merger into the Yearn ecosystem, SushiSwap has been making significant inroads into the market share of leading decentralized exchange Uniswap. On Jan. 29, Messari researcher Mira Christanto tweeted data illustrating that Uniswap’s share of the Automated Market Maker sector has declined as Sushi’s share expanded from mid-December until last week. Relative market share of AMM Dexes: Messari Christanto asserts the Yearn merger has given Sushi a newfound legitimacy, allowing the project to move past criticism of the project that launched in August as a clone of Uniswap and…

Bitcoin Price Turns Green, Why $35K Is Still A Major Barrier

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Bitcoin price started a fresh increase above the $32,500 and $33,500 resistance levels against the US Dollar. BTC is showing positive signs, but $34,500 and $35,000 still presents a major resistance. Bitcoin is up over 10% and it broke the $34,000 resistance level. The price is currently trading well above the $33,200 pivot level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $33,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower,…

Crypto crime dropped 57% in 2020 but DeFi hacks surged: CipherTrace

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Crimes targeting the virtual currency sector decreased by more than half in 2020 according to blockchain security firm CipherTrace. The firm’s 2020 cryptocurrency crime and anti-money laundering report revealed that losses from cryptocurrency theft, hacks, and fraud fell 57% in 2020 to $1.9 billion, due mainly to improved security systems. The same figure in 2019 hit a record $4.5 billion. CipherTrace said that “massive exit scams” such as the PlusToken Ponzi dominated crypto crime over the past two years, with that scam alone netting $2.9 billion. In 2020, a similar…

World Best Project That Is Cryptocurrency Market Review In English 2021

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Ripple GM Reveals that the Blockchain Firm Is Actively Seeking to Partner with Banks for CBDC

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Amid the COVID-19 pandemic and the stress caused by the SEC lawsuit, Ripple continues to thrive, partnering with banking and financial institutions for cross-border transactions and payments services. With the technological wave triggered by the current pandemic, Ripple’s financial services have benefited, as COVID-19 has pushed banks to explore digital payments even more. Asheesh Birla, Ripple’s General Manager for RippleNet, now disclosed to PaymentsSource’s John Adams in an interview that 2020 was the year where Ripple’s partners and clients have shifted their perception regarding digital payments. According to Birla, Ripple’s…