Exchanges running out of ETH with reserves plunging 27% in 48 hours

The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges. The acceleration of ETH being taken off exchanges was highlighted by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves on centralized platforms on Jan.14 — from 11 million to 10 million over 24 hours. “Exchanges will run out of ETH in 10 days at current rate,” he predicted. Earlier today, Saunders noted the decline…

EToro warns users it's running out of crypto to trade due to 'unprecedented demand'

Israel-based exchange platform eToro is struggling to keep up with the demand from crypto traders according to an email sent to users earlier today. “The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support BUY orders over the weekend.” As a result, the platform is warning of “possible limitations to crypto BUY orders” and that “spreads on crypto assets may also be much wider than usual.” @MatiGreenspan I know you have a mega position on $BTC on eToro, A sat for your thoughts. pic.twitter.com/Xt12bAJGxJ…

Bulls keep running as Bitcoin price notches a new 2020 high at $15,950

In the last 24-hours the price of Bitcoin (BTC) rose by more than 10%, breaching the $15,000 handle for the first time since January 2018, and reaching a new 2020 high at $15,950.  Data from Cointelegraph Markets shows the BTC/USD pair briefly rose to $15,950 before retracing to $15,500. According to crypto analytics platform Messari, Bitcoin has now spent more than 20 days above the $15,000 barrier and 19 days above $15,109. This represents roughly 0.4% of the crypto asset’s life since it was created in 2009. BTC/USD daily chart.…

The Second Day Running Sees Bitcoin is Up While Equities Fall

For the second day straight, Bitcoin is up while equities fall. Is this the beginning of a decoupling from traditional markets? @SmartContracter picked up on this trend yesterday by saying: “was very surprised to see this today, but there is nothing i would like more than to see btc break its correlation with equities.” However, he tweeted again today to say the pattern has repeated. What’s more, he added that the current market dynamic, of a clear delineation between Bitcoin and the alts, is also an infrequent occurrence. Parallels were…

Sparkpool’s Taichi Network to Tackle Front Running in DeFi

Ethereum mining pool Sparkpool will launch its new mining network, Taichi Network, complete with a “private transaction” feature in October, CryptoX confirmed with Sparkpool co-founder Xin Xu. The network “will gradually go online” this month in what could be one solution to decentralized finance’s (DeFi) long-standing problem with front running, the practice of trading based on information about future trades contained in a blockchain’s transaction queue in cryptocurrency markets. Taichi’s features are “not designed for selfish usage” but instead for the “public good” of the Ethereum ecosystem, Xu told CryptoX…

Indian Police Probe Crypto Exchange and Founders Allegedly Running a Scam

Delhi police are reportedly investigating a cryptocurrency exchange and its executives allegedly duping Indian investors after receiving multiple complaints. The complainants further say the company has moved office overseas without returning their investments. Police Investigate Crypto Scam After Multiple Complaints Forty-three people have filed complaints with the Delhi Police regarding a cryptocurrency investment scheme based out of Connaught Place, a financial hub in New Delhi, local news outlet Millennium Post reported this week. The Economic Offences Wing of the Delhi Police subsequently launched an investigation into Pluto Exchange and seven…

Indicator Shows Bitcoin’s Selloff May be Running Out of Steam

It has been a rocky past day for Bitcoin, with the benchmark crypto posting massive losses as buyers struggle to garner significant momentum. This selling pressure has sent shockwaves throughout the entire cryptocurrency market, causing altcoins to see massive selloffs that have erased the bulk of their recent gains. One trader is specifically noting that the cryptocurrency could be on the cusp of seeing its ongoing selloff come to an end, however, as one indicator points to slowing downside momentum. That being said, the declining delta seems to indicate that…

‘Bitcoin Pope’ faces up to 10 years in jail for running two crypto scams

A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds and PEK Universe. The published order names Kumar Babu Bondesi and Darwin Eric Balusek as the alleged operators of the schemes. According to the TSSB, Balusek is also known under the nickname “Bitcoin Pope.” Operating abroad, the respondents are accused of fraudulent securities…

YFI Token is Running Towards 4 BTC a Piece, Asserts Analyst

YFI, the native token of a fast-forward decentralized finance giant, Yearn Finance, has surged 8,900 percent against Bitcoin since its launch. And now, an analyst says that the cryptocurrency could grow further. Amsterdam-based stock trader Michaël van de Poppe said in his Monday tweet that the YFI price could surge towards 4 BTC per token. The comments followed the DeFi crypto’s 35 percent rally in the last 24 hours, wherein YFI/BTC surged from 2.31 BTC to an intraday high of 3.10 BTC. YFI surged 35% against BTC on growing DeFi…

“Utreexo” Launch Is Making Running Bitcoin Nodes Easier

A new Bitcoin Full Node implementation might help the network become more accessible for anyone to set up and run courtesy the launch of Utreexo last week, reported CoinDesk on Wednesday. Bitcoin Nodes Made Lighter  Developed as part of MIT Digital Currency Initiative (DCI), Utreexo puts the idea of lighter nodes into working code for Bitcoin. The design was first described by Lightning creator Tadge Dryja in 2019 and saw the release of its first version last week. Full Bitcoin nodes act like financial security systems, said Dryja, validating Bitcoin…