Crypto lender Nexo confirms NYAG order, calls it a ‘mix up’

Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations On Oct. 18, citing failure to register the business in New York and performing unlawful activities. Crypto lender Nexo is revealed to be one of the two companies to receive the cease and desist order from the Office of the Attorney General. Denying their involvement in unlawful operations, Nexo spokesperson said: “Nexo is not offering its…

'All bears will die' — Bitcoin metric prepares to flip green for the first time in 6 months

A "favorite" Bitcoin (BTC) price signal could be about to turn bullish — and upside has always resulted, data shows. As noted by podcast host Preston Pysh on Oct. 18, the Long-Term & Short-Term Holder Realized Price Ratio (LTHSTH-RPR) looks primed to print a bull flag. Chart hints at return of the bulls It may sound wordy, but LTHSTH-RPR is one of the most accurate Bitcoin price indicators. Its creator, Bitcoin 2021 conference organizer Dylan LeClair, confirmed his own bullishness based on its readings in late September. “TLDR: The lower…

Bakkt sheds more than 6% on first of public trading

Bakkt ($BKKT), an institutional and retail-facing digital asset platform founded by Intercontinental Exchange, has suffered a drawdown of -6.4% after closing a volatile first day of trading as a publicly listed company. After launching on the New York Stock Exchange (NYSE) at $9.45 on the morning of Oct. 18, BKKT rose by roughly 3.3% up to $9.77 during its first 30 minutes of trading. However, traders quickly moved to take profits, causing prices to slump by -9.5% down to $8.84 followed by lunchtime. According to Bloomberg, BKKT was trading at…

Polkadot unveils $770M development fund ahead of parachain auctions

Polkadot (DOT) founder Gavin Wood has unveiled a $777 million development fund ahead of the network’s parachain lease auctions. Wood tweeted on Oct. 17 that Polkadot’s treasury has allocated more than 18.9 million DOT (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance. Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized to realize the community’s vision for “building, improving, educating” Polkadot’s ecosystem, in addition to “anything else that the…

Bounce and Arpa Chain surge 25% on Coinbase Pro listings

Leading U.S. cryptocurrency exchange Coinbase has announced three new listings on its Pro exchange, predictably causing the tokens’ prices to pump. On Oct. 19, Coinbase Pro announced new listings in ARPA Chain (ARPA), Bounce (AUCTION), and Perpetual Protocol (PERP). It confirmed that trading will become available on or after 21.00 PT on Oct. 19, provided ample liquidity enters the market. The three tokens will be each paired with USD, EUR, and USDT. While AUCTION and ARPA rallied during the hours leading up to the announcement’s publication to each gain roughly…

El Salvador removes BTC price feed from Chivo app to crack down on arbitrage scalpers

The Salvadoran government has moved to prevent users of its Chivo digital wallet from gaming the app’s price freeze feature to glean risk-free profits through arbitrage. On Oct. 19, Chivo’s Twitter account announced that wallet users will not be able to see the reference price provided for trades executed using the price freeze feature — which allows traders to retain the Bitcoin (BTC) price quoted by the app for up to one minute. Chivo tweeted that opportunistic traders have been using the price freeze feature to scalp for arbitrage across…

Ethereum Breaking This Barrier Could Spark a Significant Surge

Ethereum remained supported above the $3,650 zone against the US Dollar. ETH must clear the $3,850 and $3,900 resistance levels to continue higher in the near term. Ethereum started a fresh increase above the $3,700 and $3,750 resistance levels. The price is now trading above $3,800 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the key $3,920 resistance zone. Ethereum…

Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

The world’s most popular decentralized exchange, Uniswap, is seeing layer two volumes surge as Ethereum transaction fees surge once again. On Oct. 19, Uniswap founder Hayden Adams tweeted that daily volume across v3 deployments of the decentralized exchange on layer-two networks has pushed into record levels. Adams estimated that Uniswap v3 processed an unprecedented $115 million in combined daily volume across the Arbitrum and Optimism networks without providing a source. Uniswap v3 on layer 2 (arb + OE) doing an all time-time high of $115m volume!! 2⃣ L2 season is…

What Could Trigger Fresh Rally

Bitcoin is showing positive signs above the $61,200 support against the US Dollar. BTC could start a fresh rally if it clears the $62,200 resistance zone. Bitcoin is trading in a positive zone above the $60,000 and $61,200 levels. The price is now trading above $61,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally and it might rise towards the…

Analysts predict Valkyrie will launch Bitcoin Futures ETF this week

Commentators are predicting that a second futures-based Bitcoin exchange-traded fund (ETF) will go live by the end of the week following the launch of ProShares’ Bitcoin Strategy ETF later today. On Oct. 19, Bloomberg’s analyst Eric Balchunas predicted that Valkyrie’s Bitcoin (BTC) futures-based ETF is “likely” to launch in the coming days after being certified for listing on the Nasdaq exchange last week. If true, the milestone would make Valkyrie’s fund only the second Bitcoin ETF to launch in the United States, with ProShares’ futures-based ETF slated to begin trading…