Day: October 12, 2021

Bitcoin price is correcting, but what does futures data show?

Bitcoin had been underperforming most altcoins for the past two months, but that trend reversed this week when (BTC’s) 20% rally pushed its market capitalization to break the $1 trillion mark on Oct. 6. That shifted investors’ attention back to the leading cryptocurrency, and altcoins are currently in the red for the day.  The current positive momentum could be dangerous if Bitcoin traders become overconfident and abuse leverage to open long positions. To avoid this, traders need to carefully analyze derivatives markets to exclude this risk. Top 14 coins weekly…

Binance to launch $1B fund to develop BSC ecosystem

The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program, Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the…

Nevada-Based Bitcoin Mining Operation Cleanspark Purchases 4,500 Bitcoin Miners From Bitmain – Mining Bitcoin News

Cleanspark, a Nevada-based energy technology and clean bitcoin mining firm, has announced the purchase of 4,500 Bitmain-brand Antminer S19 bitcoin mining rigs. The company says the mining devices were purchased by leveraging a portion of the company’s bitcoin holdings. Cleanspark Purchases 4,500 ASIC Mining Rigs From Chinese Manufacturer Bitmain The publicly-listed bitcoin mining firm Cleanspark (Nasdaq: CLSK) announced on Tuesday that the company has purchased 4,500 S19 bitcoin mining rigs from Bitmain. The rigs are expected to start the delivery process by next month and the units were “partially funded…

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IMF reiterates more oversight for crypto in latest report on financial stability

The International Monetary Fund’s Financial Stability Board said the growing adoption of cryptocurrencies could potentially increase the risks to the global economy. In its Global Financial Stability Report released on Oct. 12, the International Monetary Fund, or IMF, said the adoption of crypto assets and stablecoins in emerging markets and developing economies could pose a challenge to those countries’ macroeconomic and financial stability. The group said the risks were “contained for now,” but urged regulators to monitor cryptocurrencies and keep them in check. The IMF added that as the crypto…

Why Shiba Inu (SHIB) Rallied 266% Following Biggest Dump In Its History

Shiba Inu (SHIB) is still on a bull trend after its meteoric rise last week. The asset had rallied 266% and by the time the rally reached its peak, SHIB had grown over 400% in a matter of hours. Its sudden rise in price has been attributed to a number of things. One of the most prominent being the tweet by Elon Musk of his pet Shiba Inu which he had gotten last month. However, the price recovery had occurred at a point where the asset had been seeing massive…

Coinbase Follows FTX.US Into NFT Trading — CoinDesk

“If you’ve tried to create or purchase an NFT, you’ve probably found the user experience lacking,” Coinbase said in a blog post. “Coinbase NFT will make minting, purchasing, showcasing, and discovering NFTs easier than ever. We’re making NFTs more accessible by building intuitive interfaces that put the complexity behind the scenes.” Source

Constellation Looks to Scale Blockchain Data Choices With Acquisition of Retail Startup Dor — CoinDesk

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

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Bitcoin $60K resistance hints at ‘buy the dip opportunity’ before all-time highs — Analyst

Bitcoin (BTC) liquidity is changing — and it could mean that hodlers will get a fresh “buy the dip” opportunity. As noted by on-chain analyst Material Scientist on Oct. 12, orderbook movements are now repeating behavior from August. Orderbook data boosts bull case What was Bitcoin’s initial “renaissance” month after hitting mid-cycle lows of $29,000, August encouraged bullish perspectives to return before a sideways September entered. October, or “Uptober,” has since taken the mood back to bullish, and orderbook data proves it. “Resistance at 60k – First time since August…