The bullish Cryptocurrency market continued to make its way upwards after the massive correction. This correction proved to do more good than harm as it gave the market the needed momentum to break above resistances that were previously very hard to reach. Currently, the market is poised for another bout of bullish momentum, however, there are fears that this time will not be like last time. With that said, let’s find how the Cryptocurrencies are doing on December 1st, 2020.
The Bitcoin price on Nov 30 rallied, nearly retesting 2017 highs of $19,891, reaching a new 2020 high of $19,873 (data from Coinbase). An additional screenshot by Tyler Winkelvoss, one of the owners of Gemini, confirmed the uptrend. Preceding the rally was an influx of new investors according to GlassNode statistics.
The second era of Ethereum begins today with the activation of the Beacon Chain mainnet and staking. Dubbed Serenity, Eth2 will introduce a consensus change and scalability solutions in multiple stages spanning several months. These will cement its position as a leader of dApps and developers’ favorite.
A Shopping Outlet in Venezuela, Rattan Plaza Now Accepts Crypto Including DASH and Litecoin 01.12.20
One of the biggest shopping outlets in Venezuela, Rattan Plaza, now accepts payment in Bitcoin, Litecoin, Dash, Ethereum, Binance, DAI, Tether and Cryptobuyer, a new update on Nov 30 reads. The deal is in partnership with CryptoBuyer and through its Pay solution, coin holders will settle their bills for services offered or goods purchased.
After what looked like a steep correction downwards, which also fanned the possibility of a reversal, we saw the Cryptocurrency market bounce back from the lows it had witnessed and began another leg higher. In fact, the weekend was so good to the market, that some pesky resistances were also broken in the process. This gave the Bulls the needed support to counter any future negative shocks to the market. With that said, let’s find how the Cryptocurrencies are doing on November 30th, 2020.
A projection by Paul Tudor Jones, a billionaire hedge fund manager who in mid-2020 invested $200 million in Bitcoin, says the BTC price may rally to a new high. Basing his analysis on Fractals, a technical indicator, he said the safe-haven and fixed supply of the digital gold may anchor an explosive growth going forward.
Ripple has filed with the US Securities and Exchange Commission (SEC) to liquidate four million MGI shares, a year after acquiring the money transfer firm. MoneyGram uses XRP and the On-Demand Liquidity (ODL) in select corridors for cross-border fund transfer. It has also been receiving millions from Ripple as market development fees from as early as Q1 2020.
Operating an Eth2 node is easier and more profitable according to Vitalik Buterin. While other influencing variables could impact profitability, comments from the tech leader explain why the launch conditions were timely met last week and how validators are already priming themselves for a new consensus algorithm that will eventually replace Proof-of-Work and block mining.
The downward pressure on the Cryptocurrency market continued yesterday as we saw an extension of the deep correction which removed a lot of the gains that the market had made. However, hope still remains that the Bulls will be able to recover as the market seemed to have reached important supports. With that said, let’s find how the Cryptocurrencies are doing on November 27th, 2020.
The Bitcoin price is down, shedding over $2,300 three days after printing new 2020 highs. However, amid the free fall, Deutsche Bank has included Bitcoin in its official list of assets according to Zero Hedge. The endorsement comes at the back of another project, this time from JP Morgan that BTC prices may rally to $140k in the long term.
The Ethereum network fee, or Gas, rose to over $2 on Nov 26 according to BitInfoCharts. Strangely, the average transaction fees were rising as ETH prices plunged from above $600. Meanwhile, the total value locked in DeFi continues to fall, dropping from over $14 billion on Nov 22 towards $12 billion on Nov 27.
The Prime Minister of Russia, Mikhail Mishustin, has promised to streamline the cryptocurrency currency market by taking it in a civilized direction to prevent fraud and protect user interests. They will do this by classifying cryptocurrencies as property subject to tax. As revenue generators, users are protected against scammers in a court of law.
The return of the Bears into the scene of the Cryptocurrency market has been quite evident with the recent strong pullback that happened. To say that it was expected would be an understatement, investors were waiting for the other shoe to drop after the meteoric rise that happened a couple of days ago, which we’ve talked about extensively in our previous posts. With that said, let’s find how the Cryptocurrencies are doing on November 26th, 2020.
There is a chance the Bitcoin price will rally to $100k according to Anthony Pompliano, a crypto evangelist and an avid BTC supporter. In a CNBC “Squawk Box” interview on Wednesday, the investor said the current macro-economic condition is “rocket fuel” for the digital asset. Coupled with the halving event of May 2020--which slashed by 50 percent of the daily supply of Bitcoin, there are more upsides for the coin.
The Public is finally “FOMOing” on Ethereum. As per Google Trends, related searches are at early 2018 levels. It coincides with the ETH price rallying above key resistance levels and the imminent launch of Eth2 Phase 0.
The demand for Litecoin among institutions is at an unprecedented level if the premium paid at Grayscale Investment leads. An Arcane Researcher revealed a 3,193% premium existed between the secondary market of LTC and those offered by the regulated ramp on Nov 23 meaning investors were buying LTC at an implied price of $2,750.
Yesterday was a very big day for all Cryptocurrencies as they all witnessed a meteoric rise in price with Ripple leading the charge higher posting the most amount of gains out of them all. Bitcoin was actually lagging behind as the Cryptocurrency King didn’t have enough momentum to pull what Ripple did. However, it would seem that the bullish momentum was a bit exhausted and it might be the time for a correction. With that said, let’s find how the Cryptocurrencies are doing on November 25th, 2020.
As the Bitcoin price recoils from around its all-time high, the digital asset is decoupling from gold. Unlike BTC, gold’s gains have been marginal, even negative. Meanwhile, the Bitcoin price has more than doubled in the last four months. BofA Global Investment Strategy data shows outflow from gold in the past week spiked last week while inflow to equities soared.
SBI Holding, a leading financial institution and a Ripple partner, has launched a new crypto lending service dubbed VC Trade Lending via its crypto-focused wing, SBI VC Trade. The new service allows coin holders to loan out BTC for a maximum of 84 days. At later stages, XRP and ETH will follow. A minimum amount of 0.1 BTC can be lent out while borrowers can take out a maximum of 5 BTC.
Cardano will release more updates about Goguen, wallet development, and smart contracting in early December, Charles Hoskinson, the founder, revealed in the latest community update. Like Ethereum, Cardano is transitioning. The last upgrade allowed staking via Shelley. Presently, the team is preparing for smart contracting through the Goguen hard fork.
The focus of today’s writing is not about Bitcoin, but about the Alt-coins that have literally pushed Bitcoin into the backseat and continue to rise with the most impressive run going to Ripple which is knocking on the $0.7000’s door. Overall the momentum does remain extremely bullish for Ethereum and Ripple, however, fears of a pull back in Bitcoin is going to force the other Cryptocurrencies to correct. With that said, let’s find how the Cryptocurrencies are doing on November 24th, 2020.
A lull observed in the first half of this month was replaced by activity as prospective Eth2 Beacon Chain mainnet validators accelerated their ETH depositing. While there were doubts about a timely launch, the Eth2 deposit contract is now fully funded as Etherscan statistics show. 524,288 ETH needed to be staked by 16,384 validators in exchange for over 22% APR and slashed penalties.
CipherTrace, a cybersecurity and analytics firm, has filed the second patent claiming it has the technology to track Monero’s transactions. The patent, the company said, is part of a United States Homeland Security project now that XMR is being used by criminals to launder money and evade paying taxes.
In roughly 12 years, Bitcoin is now the world’s second-largest bank only trailing JP Morgan and Chase. At spot rates, the BTC market cap stands at $340 billion, $10 billion short of JP Morgan’s valuation. However, it is over $90 billion more valuable than the ICBC Bank of China and over $100 billion more valuable than BAC USA.
“Upwards and onwards” was the tagline the Cryptocurrency market used as of late. The bullish momentum that has been dominating every aspect of this market for quite some time now and there doesn’t seem any signs of it letting up. In fact, it seems to be getting stronger and stronger trying to reach previous record highs that it hasn’t been able to do. However, the question still remains whether or not this is sustainable. With that said, let’s find how the Cryptocurrencies are doing on November 23rd, 2020.
The Ripple price nearly doubled over the weekend, rising to $0.46 as bulls stretched the USD by 70 percent. During this time, the XRP price also outperformed BTC and ETH prices, adding 46 and 30 percent, respectively. The coin is now one of the top-performing assets as bulls pushed prices, blasting past several resistance levels.
Since the payment processing giant, PayPal, announced support of Bitcoin buying and selling, they have bought approximately 70 percent of freshly minted coins. Similarly, Square’s CashApp has been on a buying spree, gulping up the remaining 30 percent, a newsletter from Pantera Capital reads.
The Ethereum price, over the weekend, rallied to new 2020 highs of $565. A parabolic rally, the coin is firmly on an uptrend at the back of interesting fundamentals. DeFi is pinned for the upswing. Others include the transition away from Eth1 to a more efficient network. Progress is below 50% a day before a likely postponement of the Beacon Chain mainnet launch.
Yesterday we asked the question of which direction will the Cryptocurrencies choose after they completed their consolidation. Well, it seems that an answer was given as we saw all Cryptocurrencies rise back higher attempting to break above their resistances, which started the correction in the first place. The Bullish momentum is obviously still the one in control here, but will it be enough to break the resistances that it first couldn’t? With that said, let’s find how the Cryptocurrencies are doing on November 20th, 2020.
Jay Clayton, the chair of the United States Securities and Exchange Commission (SEC), in an interview with CNBC’s Squawk Box, confessed that traditional legacy payment mechanisms are inefficient. Their inefficiencies are pumping Bitcoin prices, a digital asset classified as a utility, and a store of value by the strict agency.
Danny Ryan, an Ethereum developer, in an AMA session on Nov 18, said Eth2 Beacon Chain mainnet can still launch on Nov 24 even if the threshold is not met. The first phase of Eth2, the launching of the Beacon Chain mainnet, is scheduled for Dec 1 but is subject to several conditions being met a week prior.
From March 2021, privacy coins like Monero, ZEC, and Dash won’t be allowed in South Korea. A report on Nov 18 explains this as an anti-money laundering and tax evasion effort by authorities. It is part of an assault on privacy-enhancing platforms used in money transfer according to the country’s regulator, the Financial Services Commission (FSC).
A day after the silent explosion in the Cryptocurrencies, things have begun to calm down as we witness a sharp correction lower on all of these assets. It was expected because, compared to the climb, the drop wasn’t all that serious, still now Cryptocurrencies are facing consolidation. This means there’s going to be a massive rush in order to gather momentum to attempt the next leg of the journey. But in which direction? With that said, let’s find how the Cryptocurrencies are doing on November 19th, 2020.
Jamie Dimon of JP Morgan, one of the world’s well-capitalized global banks, may be skeptical of Bitcoin for its lack of regulation and means of verification. However, in a New York Times’s DealBook Conference on Wednesday, the banker said some very smart people are betting on Bitcoin.
There are unconfirmed talks that Litecoin and Cardano are working on a bridge to enable trustless swapping of coins between ADA and LTC via a Velvet Fork. The two are liquid but with different consensus algorithms. However, the upgrade will benefit both. Specifically, Litecoin will benefit from smart contracting capability, better scalability, and cross-chain settlement of funds.
Khurram Shroff of the IBC Group is locking up $10 million worth of ETH in partnership with CanETH of Canada to hasten the staking process. In total, the firm will control 687 validators from the 21,984 units staked. There are now over 102k ETH locked up by 3,299 different validators in the official Eth2 deposit contract. It should be noted that at least 524,288 ETH must be staked by Nov 24 for the Beacon Chain to go live. If not, the launch, scheduled for Dec 1, 2020, will be postponed by another week until this condition is met.
A silent explosion rocked through the entire Cryptocurrency market as we saw Bitcoin as well as other Cryptocurrencies force their way through their respective resistance levels to record yearly highs. The bullish momentum has not been letting go for a single second as the market keeps pushing higher with no afterthought to where this might lead. With that said, let’s find how the Cryptocurrencies are doing on November 18th, 2020.
At $17,750, the Bitcoin price is trading at new 2020 highs, a level last registered in early 2018. Bulls are rampant. Analysts expect inflation to rise in 2021 and as Trump holds on to office, BTC is widely treated as a store of value as Wyoming’s Senator-elect, Cynthia Lummis, observes. The politician made her first crypto purchase in 2013.
A crypto quant analyst--with a Ph.D in Engineering, projects the Ethereum price to hit $10k in the next bull cycle. In his analysis, odds of the native currency of the “world computer” rallying 10,000 percent is likely since ETH is only one market circle behind BTC, a coin whose price is trading at new 2020 highs.
Boasting a market cap of $4.823 billion, Litecoin (LTC) is now more valuable than Chainlink (LINK) and Bitcoin Cash (BCH) but trailing Tether (USDT)--the world’s leading stable coin perched at fifth. The coin is up 26%, outperforming both BTC and ETH, adding 8% and 18%, respectively.
Cryptocurrencies have continued to show their bullish power for quite some time now and there doesn’t seem to be an end in sight as they break through resistance after resistance. Bears have been caught sleeping at the wheel, as they have allowed this “madness” to continue with Bitcoin eyeing the $17,000 and Ripple finally topping the $0.3000. With that said, let’s find how the Cryptocurrencies are doing on November 17th, 2020.
Rewards in the Eth2 Bug Bounty Program announced by the Ethereum Foundation can be up to $50k. Skilled hackers and developers who pick out critical vulnerabilities affecting Eth2 clients--Teku, Prysm, and Lighthouse, or the protocol will not only be rewarded but will get a place at the foundation’s leaderboard.
Pinning his technical analysis on the exponential Bitcoin price move of 2010 to 2011--which had similarities to the the gold market of the 1970s, Thomas Fitzpatrick, the Global Head of Citibank’s CitiFXTechnicals market insight product, now says BTC prices may rally to $318k by Dec 2021. In the newsletter meant for the bank’s institutional clients, he said the whole of Bitcoin’s existence has been marked by huge price movements, a prerequisite for sustaining even larger price movements.
Brad Garlinghouse, the CEO of Ripple, in a recent interview with Frank Chapparo of The Scoop, has said his might have jumped the rope for claiming 2019 was the year when banks would adopt the On-Demand Liquidity (ODL), a tool that uses XRP for cheap and instantaneous flow of value. He further added that the current regulatory climate that seems to favor Bitcoin presented headwinds slowing down progress. Even so, their performance has been decent considering how challenging 2020 is for business.
The Cryptocurrency market has been moving in such an erratic way for some time now. Volatility has become a common occurrence in the market and it doesn’t seem to be going anywhere anytime soon. Over the weekend, the roles have been reversed as Bitcoin dropped from the highs it was printing, to begin with. What’s even more surprising is the sudden jump Ripple has scored. This Cryptocurrency finally joins the rally established by Bitcoin. Ethereum was dealt the losing hand here as the weekend saw it drop heavily after its attempt at climbing. With that said, let’s find how the Cryptocurrencies are doing on November 16th, 2020.
Michael Sonnenshein, the Managing Director of Grayscale Investment, a Securities Exchange Commission (SEC) reporting company, said $262 million were poured into the firm’s Bitcoin trust shares, slightly more than double what was invested on Nov 12. The uptick in participation was the company’s largest in its history, hinting at growing confidence in Bitcoin and its trusted ability to store value in times of turbulence.
The amount of ETH held across cryptocurrency exchanges has fallen to a two-year low, data from Santiment reveals. In 14 days, assuming conditions are met, the Ethereum network will begin transiting to a Proof-of-Stake consensus algorithm, preferring staking to mining. In this arrangement, participants would delegate their coins to a validator, or run a validator node themselves, earning a decent yield.
A DappRadar report shows that Tron’s transaction volumes in October were almost twice those of Ethereum at $280 million versus $159 million, respectively. This is the first time in a year that Tron’s transaction volumes had surpassed Ethereum. At the same time, the number of daily active addresses in the Tron network rose 248 percent during the same period.
It seems that Bitcoin is the center of attention in the Cryptocurrency market as it managed to break above the $16,000 resistance and touch upon a new high around the $16,500. This all happened when Ethereum and Ripple consolidated at their current ranges with no attempt whatsoever to follow suit. This could be due to the fact that only Bitcoin had been admitted to the PayPal payment system, giving BTC that added fundamental push against the other Cryptocurrencies. With that said, let’s find how the Cryptocurrencies are doing on November 13th, 2020.
Peter Brandt, a chartist, controversially shared a tweet saying if the United States Securities Exchange Commission (SEC) understood cryptocurrencies it would have declared Ripple (XRP) a security. The third most valuable coin is issued by Ripple Labs and widely traded even though a section of investors are wary of the regulator categorizing the asset as a security compliant with Howey Test criteria, requiring holders to file with the agency.
For the first time in three years, the Bitcoin price is trading above $16,300 easing past intermediate resistance levels. Fueling Bitcoin demand are wide-ranging fundamentals around inflation fears and the political situation in the world’s economic powerhouse. Bitcoin tailwind is because of its inherent properties including the resounding support from analysts and public companies as a store of value.
Geth version v1.9.24 has been released following the Nov 11 impact it had on Ethereum and several nodes reliant on the client. Infura, an infrastructure provider that also powers MetaMask, suffered critical outages, and the base layer, Ethereum, temporarily hard forked at a critical time ahead of Eth2. Developers said they opted to stealthily fix a two-year-old bug, an unannounced decision that affected nodes operating on old but stable versions of Geth.
After the brief consolidation that we saw happen in the Cryptocurrency market, things have begun to change as we saw Cryptocurrencies begin another trek higher, especificaly Bitcoin and Ethereum as both seemed to have enough bullish momentum to continue higher. Ripple also joined in the fun as it tried to move higher above its resistance level but failed. With that said, let’s find how the Cryptocurrencies are doing on November 12th, 2020.
An Arcane Research data reveals that the current Bitcoin uptrend is highly likely firm as it is propped by above-average trading volumes and influx from institutions and high net-worth investors. In the first week of Nov 2020, the seven-day trading volumes moving average rose 270 percent to around $3 billion setting new 2020 highs. At the same time, the number of Bitcoin whales trading CME Bitcoin Futures has more than doubled so far this year to 99.
On Nov 11, the Ethereum network temporarily screeched to a halt, forking after developers fixed a two-year-old bug. Most Geth clients with old but stable versions were affected. Heavily disrupted was Infura, an Ethereum hosted node that powers the MetaMask browser wallet. Binance and Bithumb, in light of the glitch, halted withdrawals of ETH and ERC-20 tokens as price feeds were also affected.
Less than three days before the contentious Bitcoin Cash hard fork, over one million BCH coins have been sent to exchanges in the last week. According to an observation by Chainalysis’ Chief Economist, Philip Gradwell, this is driving BCH price relative to BTC even lower.
Consolidation seems to continue to play a big role in the Cryptocurrency market. Well, at least from Bitcoin’s side as it was the only Cryptocurrency that stayed within range. Both Ripple and Ethereum were still affected by the Bitcoin rally that happened and both attempted to break through resistance levels.
With that said, we might be seeing the beginning of another divergence in those three Cryptocurrencies. So, let’s find how the Cryptocurrencies are doing on November 11th, 2020.
With that said, we might be seeing the beginning of another divergence in those three Cryptocurrencies. So, let’s find how the Cryptocurrencies are doing on November 11th, 2020.
Stanley Druckenmiller, a billionaire hedge fund manager, in a CNBC interview, revealed that he owns Bitcoin, backing it as a store of value that will outperform gold. A few weeks ago, he said he was “short” the USD, forecasting a multi-year decline of the greenback.
In a partnership with Sorare, the European champions, Bayern Munich, will now tokenize its players on the Ethereum blockchain. Sorare is a fantasy football video game running on the dominant smart contracting platform.
The Tron Foundation has confirmed an exit scam in the Tron DeFi ecosystem where users were scammed between 366 and 400 million TRX or, $10 million at spot rates. The foundation said the Shark Tron heist is being investigated and has been notified to freeze some of the assets the scam DeFi project creator wanted to launder on the exchange. The project had been endorsed by JustSwap, a DEX on the Tron platform.
Another round of consolidation has hit the Cryptocurrency market as we see these instruments trade within their current ranges as they consolidate the recent round of gains that has been witnessed. Markets are currently looking for the next sign, trying to see which way the Cryptocurrencies are poised to go. With that said, let’s find how the Cryptocurrencies are doing on November 10th, 2020.
The United States pharmaceutical giant, Pfizer, in collaboration with BioNTech, a Biotech company, has found a breakthrough that would help in the fight against the COVID-19 pandemic. Though it isn't approved by the FDA, the vaccine, which they claim is 90 percent effective, comes after testing 43,538 subjects. Bitcoin prices fell $1,000 on the news.
Swingby, a protocol for blockchain interoperability, will launch on Dec 28. Its developers now plan to link the Bitcoin blockchain to Ethereum before following up with other chains like the Binance Smart Chain. The bridge comes in handy especially for DeFi users who have to move their BTC and assets through a centralized intermediary for tokenization before participating in high yielding DeFi protocols.
Without explanation, ShapeShift, one of the sphere’s oldest exchanges, delisted Monero and Dash--the two most capitalized privacy coins, over the weekend. Although known for their resistance to regulators’ intrusion and efforts to water down privacy efforts, the exchange appears to be carving to pressure. This comes two years after forcing users to comply with KYC rules.
Consolidation and Corrections were bound to happen after the rocket-move higher in the Cryptocurrency market. Of course Bitcoin had the most to gain as the Cryptocurrency king has continued to edge higher reaching the $16,000 before correcting towards the $14,400. This has affected the other Cryptocurrencies as all are showing increased bullish momentum. With that said, let’s find how the Cryptocurrencies are doing on November 9th, 2020.
SBI Holdings, a Japanese financial heavyweight and a Ripple investor, is trialing XRP in partnership with FXcoin Ltd for fiat currency swaps, Nikkei reports. Ripple is a for-profit firm behind an enterprise blockchain solution aiming to create an internet of value enabling cheap and seamless flow of capital across the globe. Their piloting in the multi-trillion FX market could signal a profitable use-case for XRP and is supportive of prices.
The strong influx of institutional investors into Grayscale Investment Bitcoin products shows that the coin now acts as an alternative to gold. While there was a spike, investment in gold ETF slowed down in the background of comments that Bitcoin is the best inflation trade.
The co-founder of Ethereum, Vitalik Buterin, has contributed 3,200 ETH according to data from Etherscan. Over 512k ETH and 62,000 validators are required for Phase 0 of Eth2 to go live, ushering in a period of ETH staking and a consensus algorithm shift in the medium term.
Just when we thought the rally higher would be over, another wave of bullish momentum that wasn’t expected and catapulted the Cryptocurrency market ever higher. Bitcoin Bulls must be loving this right now as the Cryptocurrency might be on its way to test the previous all time high at $20,000. However, it’s still a long way before that level. The Altcoin market wasn’t left out of this momentum as they too seem to bask in the bullish momentum. Which begs the question, is this rally sustainable? With that said, let’s find how the Cryptocurrencies are doing on November 6th, 2020.
The United States Department of Justice said Thursday it has over a Bitcoin wallet with nearly $1 billion of coins linked to the proceeds of the infamous Silk Road. According to U.S. Attorney David Anderson, authorities managed to crack open the file containing the private keys of the wallet with the help of one hacker only identified as “Individual X.”
Less than 24 hours after the Ethereum Foundation and Vitalik officially announced the deposit contract address and a possible date for Phase 0 Beacon Chain mainnet launch, over 24,000 ETH have been deposited by prospective validators. Exactly 524, 288 ETH, and 16,384 validators are required for activation.
Input-Output Hong Kong, the development wing of the Cardano led by Charles Hoskinson, the co-founder, is now one of the early sponsors of the Haskell Foundation. It is a non-profit aiming to expand the adoption of the open governance and open source Haskell programming language.
The Cryptocurrency market continues to show increased bullish pressure as the elections in the U.S. slowly come to a close. The current results of the U.S. presidential elections show that Biden is in the lead as it seems that he will have the needed majority to become the next president. With that said, let’s find how that is affecting the Cryptocurrencies on November 5th, 2020.
Early November 4, 69,369 BTC from the Silk Road era were moved to an unknown wallet according to a signal from Whale Alert. A deeper analysis shows that the last time coins were moved was five years ago when 100 BTC were transferred to a now-defunct crypto exchange. It is not clear who controls the private keys of the wallet.
Following changes to the Special Payment Act, virtual asset providers including cryptocurrency exchanges will be banned from handling private coins from March 2021 once laws are implemented. In a notice, the Financial Services Commission (FSC) of South Korea considers private coins as tools of money laundering. Additionally, exchanges will be required to enforce Know-your-Customer (KYC) and Anti-Money Laundering (AML) rules.
In less than a month, the first phase of Eth2 will launch following the announcement of the Beacon Chain deposit contract address and date. Validators are required to deposit at least 32 ETH a week before Dec 1, 2020, 12 PM UTC as one of the conditions for launch. If not, it shall be postponed until after the threshold is reached.
It’s been four years since the U.S. Presidential elections have taken place. Last time, Trump managed to deliver a huge upset in several key states to secure a victory over Hilary Clinton. This time around it’s Trump vs Biden and the race is heating up as the results so far show that Biden is currently leading 220 vs 213. With that said, let’s find how that is affecting the Cryptocurrencies on November 4th, 2020.
On November 3, the Bitcoin mining difficulty was readjusted and slashed 16 percent, a double-digit decrease, and the second-largest difficulty drop in the network’s history. The variable changes depending on the network’s activity, and miner participation directly influences profitability.
The Associated Press (AP) used the Ethereum blockchain to validate and publish the results of yesterday’s United States Presidential elections. Specifically, the news platform integrated Everipedia's software.
The Securities and Futures Commission (SFC) of Hong Kong will be mandated to regulate all cryptocurrencies in the territory and follows an amendment of the law that requires all ramps to apply for a license. A November 2019 circular showed that it was optional for exchanges to opt-in but not there have been changes and exchanges must apply as required under their anti-money laundering legislation.
Another bout of bearish pressure has been experienced in the Cryptocurrency market as they attempt the break above their resistance and fail. The recent bullish pressure that had caused the market to rise, was forced back down due to the fact that some of these moves have become a bit over extended. Yet, there remains divergence between them. With that said, let’s find out what today holds for the Cryptocurrencies on November 3rd, 2020.
The number of unique Ethereum addresses holding 32 ETH and above rose to an all-time high of 125,540, GlassNode data reveals. In a few weeks, the Ethereum network will update its core to support staking. To qualify as a validator and earn rewards, one must lock in at least 32 ETH, a figure which has been rising as on-chain data shows.
The Jack Dorsey-led crypto supporter and payment processor, Square Crypto, has awarded a grant to a developer, Maggie Valentine. She is searching to make Bitcoin wallets easier to use and more accessible through user education and complexity elimination.
The Tron mainnet was on Nov 2 hacked and block generation halted for at least three hours. Justin Sun, the co-founder, has confirmed that no funds were lost and all data remains intact.
The divergence in the Cryptocurrency market continues as Bitcoin continues its move higher attempting and almost succeeding in breaking above the $14,000, while Ethereum and Ripple continue to struggle to break above their respective resistances. With that said, let’s find out what today holds for the Cryptocurrencies on November 2nd, 2020.
A MoneyGram financial report for Q3 2020 revealed that Ripple--the for-profit company behind RippleNet, invested over $9.3 million in Q3 2020. This is part of their dedication and terms dictated in the original deal with the remittance company to expand the utility and use of the On-Demand Liquidity--a solution that uses XRP. Ripple has now invested over $50 million since offering financial aid to the then-distressed company in 2018.
Capping up a stellar October, Oct 30 close was Bitcoin’s second-highest close in its short history. Besides, by closing above $13k, last month’s candle was the first since Dec 2017 when prices soared to around $20,000.
Reacting to wavy ETH prices, the total value of locked assets in Ethereum DeFi is down 10 percent from around $12.3 billion registered on Oct 26. DeFi is sensitive to prices because of the over-collateralization requirement by dominant lending and borrowing services. Decentralized applications like MakerDAO and Compound are one of the most popular, trailing Uniswap.
The Cryptocurrency market continues to trade in somewhat divergent paths as Bitcoin consolidated at the top of the range testing the current support levels, while Altcoins, Ethereum and Ripple to be specific, continue to falter and move lower. With that said, let’s find out what today holds for the Cryptocurrencies on October 30th, 2020.
ConsenSys, a company and an appendage of Ethereum that helps develop its ecosystem, is the technology partner for the Bank of Thailand. It will now help the central bank develop a retail CBDC prototype, the digital Baht. Other partners include the Siam Cement Group and its subsidiary, Digital Ventures (DV).
An amendment has been made to Iranian law that will see the country’s central bank re-direct cryptocurrencies as a funding mechanism for imports. The country's crypto miners are required to channel their coins as per a joint report by the central bank and the Ministry of Energy. The amount submitted by each miner will depend on the ministry's guidelines as well as the subsidy received.
A new mining service dubbed the BU Mining Guarantee, has been unveiled by Bitcoin Unlimited to attract Bitcoin Cash miners on its network and therefore help in their decentralization objective. The project aims to decentralize its mining ecosystem on the Bitcoin Cash network. Therefore, miners using the Bitcoin Unlimited software will be compensated should they lose block rewards.
The more the Cryptocurrency market trades this way, the wider the divergence between BTC and all other altcoins is going to widen. While all Cryptocurrencies suffered a pullback from their respective highs, which was kind of expected after the move higher, Bitcoin seemed to be the least one fazed by the move as other altcoins witnessed a continued downtrend. With that said, let’s find out what today holds for the Cryptocurrencies on October 29th, 2020.
Two months after sinking $475 million, MicroStrategy is deep in green, raking in $100 million from their investment. A chess-move, the decision to try out new assets, and dig in on BTC, legitimizing the coin and triggering others like Square and Mode Banking to follow suit, the public-listed company has now earned more than they did in their last three and a half years of their business operations.
The Alpha version of Marlowe, a DSL programming language for creating financial contracts, has been released by IOHK, the technical development wing of the smart contracting platform, Cardano. Unlike other general-purpose languages like Solidity, Marlowe is embedded in Haskell and is easy to read and create contracts with from its web-based Marlowe Playground.
The token distribution of the so-called Ethereum killers is skewed, often favoring insiders, and is, therefore “toothless” according to Ryan Sean Adams, the founder of Mythos Capital. In his assessment, distribution is everything and the likes of Solana, Avalanche, Celos, and others fail as insiders own, on average, over 40 percent of generated tokens.
The Cryptocurrency market has exploded upwards after some correction and consolidation. This is all because of Bitcoin, which was able to break above its resistance levels. This sparked a new motivation in the other Cryptocurrencies to move higher. Unfortunately, they lacked the drive Bitcoin had. With that said, let’s find out what today holds for the Cryptocurrencies on October 28th, 2020.
According to Santiment, an on-chain analytics firm, Ethereum miners have been selling large amounts of their holdings across cryptocurrency exchanges. Their sell-off comes at a time when base layer activity is decreasing and DeFi FOMO amongst investors tapering.
DBS, the largest retail and commercial bank in Singapore, is launching a cryptocurrency exchange with fiat-to-crypto. Ripple (XRP) and other leading coins including BTC and ETH are among the first to be supported. SGD, HKD, JPY, and the USD are listed paper currencies.
On Oct 27, 88,857 BTC worth $1.15 billion were moved on the Bitcoin network for a paltry $3.54, on-chain transaction trackers reveal. While the price wasn’t impacted, the humongous movement of value across the secure network transparently demonstrates its efficacy and how it has matured to be trusted by whales as a cheap agent of moving wealth without third-party involvement.
Corrections and consolidations were the name of the game as the Cryptocurrency market experienced downside pressure. This movement was, of course, expected given how the market exploded to the topside without much of a hitch, however, will the market continue in the current trajectory? With that said, let’s find out what today holds for the Cryptocurrencies on October 27th, 2020.
The co-founder of Ethereum, Vitalik Buterin--who is also the architect working behind the scene and even coordinating Eth2 rollout, has dismissed Richard Ma’s comments that the Beacon Chain mainnet launch is ready to ship. Richard is the CEO of Quantstamp--a smart contract auditing firm, and made these comments after they completed the auditing of Teku, an Eth2 client developed by ConsenSys.
One of the largest banks in the United States, J.P. Morgan and Chase, is bullish on Bitcoin. In a report on Oct 24, they said Bitcoin now competes with gold citing the recent endorsement from Paypal which in their view will trigger its use as an alternative currency.
Justin Sun of Tron has announced the acquisition of DLive and the formation of the BitTorrent X ecosystem of which the BTT token will be integral. DLive is an eSport platform. The formation of the new BitTorrent X ecosystem marks the beginning of a new era for the platform acquired in 2018.
Over the weekend, the Cryptocurrency market continued to trade in the newly established range as the momentum upwards seemed to fade. However, this doesn’t mean it’s all gone. All indicators are pointing to the fact that there’s more upside potential. At the same time, Cryptocurrencies are reaching levels with excessive selling pressure enough to push them back down. With that said, let’s find out what today holds for the Cryptocurrencies on October 26th, 2020.
Kanye West, the American Rapper and a U.S. Presidential candidate, in a recent podcast, said Bitcoin is the true liberator. The controversial rapper is pro-crypto and has on several occasions in the past rooted for Bitcoin, talking about its benefits compared to the existing financial rails. BTC mentions by the popular rapper is a huge awareness boost considering his huge following and influence.
The Beacon Chain deposit contract date, paving the way for the activation of Phase 0 of Eth2, is set for mid-November 2020. The date is subject to the audit result on the source code by NCC Group. Specifically, the audit firm will zero in on a critical Eth2 library called BLST, critical for creating keys and signing messages.
Customers of Excelsior Gama Supermarkets in Venezuela can now pay in DASH marking the first deal between the chain and a cryptocurrency firm. CryptoBuyer and Megasoft will be facilitators, enabling clients to pay for goods and services at any of the 24 branches.
The Cryptocurrency market has been experiencing the most intense move since August. The move started off with Bitcoin rallying higher on the news that PayPal will finally incorporate Cryptocurrencies in their payment platform. This has sparked a legendary move in the King of Cryptocurrencies, however, at the same this move has sparked criticism on how payments would actually work. With that said, let’s find out what today holds for the Cryptocurrencies on October 23rd, 2020.
Brad Garlinghouse, the CEO of the $10 billion for-profit remittance company, Ripple, may end up moving to Japan, Singapore, or three other countries whose cryptocurrency and blockchain regulations are clearer and certain. In an interview with Bloomberg, the executive said crypto laws are fuzzy, a reason which is stifling the growth of the sub-sector by introducing needless uncertainty due to lack of clarity.
The Bitcoin mempool is expanding less than a day after BTC prices rallied, retesting $13,000. The size of the mempool shows the number of unconfirmed Bitcoin transactions and is a means of determining the priority of BTC miners who have a propensity of being selective, opting to confirm transactions with high fees when prices are trending higher.
Messari projects Ethereum to be the first public blockchain to settle over $1 trillion in a year. Currently, the smart contracting platform processes twice the amount of value in Bitcoin and at this rate, the network could cumulatively process over $1 trillion in value in 2020 alone.
The top news for today comes from the online payment platform PayPal. This platform has finally allowed users to pay using Cryptocurrencies offering Bitcoin, Bitcoin Cash, Ethereum, and Litcoin as the available means of payment through Cryptocurrencies, this spurred another impressive rally in the Cryptocurrencies market as some resistance were broken and some were tested. With that said, let’s find out what today holds for the Cryptocurrencies on October 22nd, 2020.
A London Stock Exchange-Listed Fintech Group, Mode Banking, is investing 10 percent of its cash reserves in Bitcoin. The public company said this was part of its diversification plans to protect clients against currency debasement and earn maximum returns.
From as early as next week, PayPal customers in the United States will buy, sell, and store several cryptocurrencies including Bitcoin and possibly Ethereum. In an interview, President and Chief Executive Dan Schulman said they hope to encourage the adoption of virtual currencies and to prepare its network for CBDCs and stablecoins developed by governments and corporations.
The official publisher of the EOSIO blockchain, Block.One, is willing to support the growth of EOS-based open finance dApps, its co-founder, Brendan Blumer has said. The executive said they have been actively searching for a project to invest in provided they are compliant with all the rules set by the company.
It’s all about Bitcoin today, no one is talking about anything else. Bitcoin has finally, and we do mean finally, broken through the $12,000 barrier and continued to move higher even hitting a high of $12,320. While that is nice and dandy, we do have to mention that Ethereum and Ripple did not join in the festivities as the move higher doesn’t seem to affect them all that much. With that said, let’s find out what today holds for the Cryptocurrencies on October 21st, 2020.
The Jersey subsidiary of Binance is shutting down and users are urged to withdraw their funds by early next month as the exchange prepares to completely exit the tax haven Island by end of November. The exchange cites their evolution, including the support of Faster Payments and SEPA, in the Binance Global platform. The BNB coin is stable but bearish on the news.
Reports suggest a possible Validator confusion ahead of the Beacon Chain mainnet launch judging from the number of validators securing the Medalla multiclient. According to sources conversant with the problem, only a few validators are still hanging around and Medalla, one of the dry runs before Zinken, is once again facing finality issues as validators are confused about which client they should use.
The Bitcoin trading dominance is back to 2017 levels, as per TheTie report. Trading dominance is a metric that shows the level of back and forth changing of hands between BTC and altcoin pairs. The rapidity, the crypto analytic firm indicates, is increasing as traders appear to be strategically positioning themselves for a possible moonshot.
It only took the market a couple of days to bounce back from the news from OKEx. The Cryptocurrency market remains steadfast in the current environment and the news dies down and things become a lot more manageable. The current move higher in this market holds up as investors seem to look forward to positive momentum. With that said, let’s find out what today holds for the Cryptocurrencies on October 20th, 2020.
The total hash rate of the Bitcoin network is down 26 percent from last week’s peak, three days after the mining difficulty was increased by three percent. Hash rate is a measure that tracks the total computational power of the Bitcoin network. Technically, it is a metric showing how interested miners are in confirming transactions and securing the network.
Ben Edgington--an Ethereum 2.0 developer at PegaSys, has confirmed that the development team will reveal the Genesis date of the Phase 0--the Beacon Chain mainnet for Eth2, anytime from today. This follows the success of the Zinken Testnet, the last multi-client test network that ironed out issues in Spadina.
The Cardano Proof-of-Stake (PoS) consensus algorithm paper dubbed Ouroboros, authored by the chief scientist of Cardano’s IOHK has been referenced 183 times and is the second most cited paper under Google Scholar’s Cryptocurrency and Blockchain category.
Friday was a hectic day for the Cryptocurrency market after OKEx came out with the announcement that no withdrawals will be processed until further notice, not even providing any kind of explanation which forced the market lower. However, since then there has been some improvement as we saw most Cryptocurrencies rise. With that said, let’s find out what today holds for the Cryptocurrencies on October 19th, 2020.
In Q3 2020, the Ethereum mention count in Twitter rose 54 percent QoQ according to a joint report by the TIE and eToro, a social trading platform. As per their report, the surge in Ethereum activity and subsequent mention was largely in part due to the expansion of DeFi. Most open finance dApps launch from the popular smart contracting platform.
The Monero “Oxygen Orion” upgrade was executed successfully on Oct 17. Promising to improve the on-chain scalability of the private network, the hard fork enhanced the general performance of the platform on several facets including transaction times, block sizes, and security.
Raoul Pal--a former Goldmans Sachs executive, in an interview with Stansberry Research said Bitcoin is on most institution’s radar. In five or six years, the Bitcoin price will easily pump to $1 million as high net-worth individuals and investors flow and strategically purchase more BTC.
The day started off on a good tone for the Cryptocurrency market, but soon enough news came in and shattered the good effort forcing Cryptocurrencies lower. The main reason for that comes from the world largest Cryptocurrency exchange that stopped withdrawals. With that said, let’s find out what today holds for the Cryptocurrencies on October 15th, 2020.
Heath Tarbert, the Chairman of the US Commodity Futures Trading Commission (CFTC), is impressed by the pioneer smart contracting platform, Ethereum. Talking on the breadth of Ethereum and rising decentralized applications including DeFi including the legality of its governance tokens, Heath ended with a conclusion that he wants the US to be a leader in the digital asset space.
Kengo “Ken” Suzuki, a high profile pro-gamer considered as one of the best Japanese sonic players, will now receive his salary in XRP after signing a contract with SBI eSports. It is a gaming wing of SBI Holdings--a financial giant and a partner of Ripple driving the adoption of RippleNet solutions across SE Asia. The move to pay its partners in XRP is part of their sponsorship deal with SBI VC Trade.
Taproot, a Bitcoin Improvement Proposal (BIP) that improves the core’s privacy and scalability, has been merged in the Bitcoin source code, GitHub data on Oct 15 reveals. The next step is to activate the proposal, a move that will demand a vote and support from the majority of miners.
The Cryptocurrency market hasn’t been able to keep a hold on the bullish pressure that has been experiencing and it actually fell from the resistance levels and back into regions where the Bulls first started the move higher. There was another attempt to move higher which was thwarted as soon as it started as the first level of resistance quickly rejected the move higher. So where does that leave the Cryptocurrencies? With that said, let’s find out what today holds for the Cryptocurrencies on October 15th, 2020.
The Bitcoin network is now more secure than ever if the hash rate recorded on Oct 14 is anything to go by. According to data from BitInfoChart--a platform that tracks on-chain data of Bitcoin and other Proof-of-Work networks including Ethereum, the Bitcoin hash rate rose to 156 EH/s, surpassing the 155 EH/s computing power set early this month hinting of coin demand and cut-throat competition from miners across the globe.
Fe is a new smart contract programming language introduced by the Ethereum Foundation to give developers options and a more “Pythonic alternative to Solidity” according to Christoph Burgdorf. Fe is a rewrite of the computer program language called Vypher that powers the Ethereum Virtual Machine (EVM). Notably, it bears some few similarities with Rust
Blockchain developers are submitting more commits to the Cardano code repository in GitHub than to any other blockchain network including Bitcoin and Ethereum, data published by Santiment on Oct 14 reveals. Cardano developers are presently further improving and fine-tuning Shelley as they concurrently prepare for the Goguen phase that will activate smart contracting in the Proof-of-Stake platform.
Is this a fading bullish move we see on the horizon? It just might be. After what happened with the Cryptocurrencies in the past couple of days where we saw them catapult themselves higher breaking through the resistances, we see them now move lower. This was’t something unexpected but we are dangerously close to current supports. With that said, let’s find out what today holds for the Cryptocurrencies on October 14th, 2020.
Justin Sun, the co-founder of the Tron blockchain, has said over 3,000 BTC coins now circulate in the dPos and highly scalable smart contracting platform. Although the number pales in comparison to the number of BTC in Ethereum, this is the first step that could ultimately draw more DeFi users to Tron, helping steady TRX prices in the medium to long-term.
The Zinken test network, described as the last “dress rehearsal” before the announcement of the Beacon Chain mainnet activation, was successfully activated on Oct 12, Danny Ryan--a developer with the Ethereum Foundation, has revealed. Over 2,856 active validators and more than 91,382 test ETH were deposited, activating the multi-client test network.
The CEO of CryptoQuant, Ki-Young Ju, notes that the Bitcoin price is likely to remain supported in the medium term as whales are keeping off crypto exchanges despite recent price gains. Their mean exchange inflow metric--which measures the amount of Bitcoin entering exchanges, is within the low-risk zone, suggesting lower chances of a sell-off.
The bullish momentum that started over the weekend didn’t finish with the beginning of weekdays. In fact it seemed to continue in another full tilt higher, as we saw most Cryptocurrencies break above another set of resistances showing just how powerful this current momentum is. With that said, let’s find out what today holds for the Cryptocurrencies on October 13th, 2020.
$11.82 million, or 1,050 BTC mined in early 2010, a time better described as Satoshi-era, were on Oct 11 moved by an unidentified miner to a SegWit wallet. The move, interpreted as bullish by analysts, is more like a wallet re-arrangement than a shift to liquidate since the coins were moved to a more efficient and upgraded wallet, not to an exchange.
On Oct 12, Prysmatic Labs, the team that is behind Prysm--one of the most popular Ethereum clients, released the alpha version of the Eth2 web user interface on GitHub. The team expects users to experience some flags and failures as per an accompanying note. However, all identified bugs will be fixed in the next update.
Monero and privacy coins are trending higher following unexpected support by William P. Barr and legislative representatives from the U.K., India, and the United States, as per a statement published on the U.S Department of Justice website on Oct 11. The undersigned said they support strong encryption which plays a crucial role in protecting privacy, personal data, intellectual property, trade secrets, and cybersecurity.
Over the weekend, the Cryptocurrencies found their missing jetpacks, stole them and decided to use them to move past their respective resistances. However, they only managed to reach certain levels, as the main important resistances remain intact for the time being. With that said, let’s find out what today holds for the Cryptocurrencies on October 12th, 2020.
Charles Hoskinson, the co-founder of Cardano, said on Oct 11 that IOHK--the technical wing of the Proof-of-Stake smart contracting platform, has signed a deal with Runtime Verification Inc to help in the development of its virtual machine called IELE.
Charles Hoskinson, the co-founder of Cardano, said on Oct 11 that IOHK--the technical wing of the Proof-of-Stake smart contracting platform, has signed a deal with Runtime Verification Inc to help in the development of its virtual machine called IELE.
Hester Peirce, one of the four commissioners for the Securities and Exchange Commission (SEC), in a LA Blockchain Summit, warned that Ethereum’s DeFi governance tokens are not necessarily “outside the scope of securities law.” Although she avoided specific assessment of projects, she urged creators to “talk with the regulator” on how they intend to distribute its tokens.
We had expected consolidation to take hold of the market for a bit of time so investors could get a clear direction on which way it might go. However, the Bulls of the market had a totally different idea in mind. In fact, they have been able to establish a presence and catapult the Cryptocurrency market higher, breaking through important resistance and are currently facing new challenges. With that said, let’s find out what today holds for the Cryptocurrencies on October 9th, 2020.
A survey indicates that Ethereum miners will likely reject EIP 1559 looks to replace the current fee auction system with a flat base fee and a small tip as miner compensation. The proposal was first forwarded by Vitalik Buterin in 2018.
Jack Dorsey-led Square, on Oct 8, said it bought 4,709 BTC, or $50 million, through an Over-The-Counter (OTC) provider, equivalent to one percent of the company’s assets. The Bitcoin price rose on this news, soaring to highs of around $10,980.
Ripple, the $10 billion company, is launching a new product called a Line of Credit. The service-- still in beta, is for their RippleNet clients who use the On-Demand Liquidity (ODL) for low fee and instantaneous remittance. Clients can borrow XRP from Ripple and be charged one fee on the amount borrowed. The XRP price rose four percent versus the USD on this news.
After that bit of volatility that hit the Cryptocurrency market, it would seem that things have died down with not much movement going in this market. In the previous posts, we had explained how the market was acting with many Cryptocurrencies having wild movements higher and lower. But now that things have died down, we could be on the verge of a bit of consolidation. With that said, let’s find out what today holds for the Cryptocurrencies on October 8th, 2020.
Donald Trump is rejecting the U.S Federal Reserve calls for more stimulus packages. The chair, Jerome Powell, said the U.S. economy faces a tragic risk if the government and Congress do nothing to support the economy disrupted by the Coronavirus pandemic. While at it, the Bitcoin prices fell from its intraday highs of around $10,700
The Ethereum computing power--or hash rate, spiked to an all-time high of 254 TH/s on Oct 6 amid the growing popularity of DeFi coupled with falling transaction fees. Hash rate is a measure of the network’s processing power. As a metric that is highly dependent on price, it hints of miners’ confidence and a possibility of a rally a few months before the network’s mining algorithm is shut.
Google Cloud is the first Silicon Valley company seeking to be one of the 21 Block Producers in the EOSIO mainnet as per reports on Oct 6. Moreover, following the announcement, Google Cloud will now work with Block One--the creators of the EOSIO blockchain, enabling its developers to build applications on the EOS network.
A severe bout of bearishness has hit the Cryptocurrency market. In our previous article we explained how the minor bullish pressure that the market was experiencing was going to run out sooner or later. It turned out to be much much sooner that we had expected. The bearish pressure saw Cryptocurrencies fall back below certain supports that were supposed to hold off all kinds of downward pressure; they have failed. With that said, let’s find out what today holds for the Cryptocurrencies on October 7th, 2020.
Last week, the number of new Bitcoin addresses spiked to a two-year high hinting of a possible entry of fresh capital and a re-alignment for a bull market. The result saw Bitcoin prices steady above the $10,000 level, shaking off news of President Trump COVID-19 infection.
The average transaction fees in the Ethereum network are down over 80 percent after peaking in early Sep 2020. By Oct 6, network users on average paid $2 per transaction, a huge relief for struggling dApps of which most were contemplating to shut down because of high network fees.
Litecoin, in an announcement on Oct 6, said it shall relaunch mimblewimble citing poor participation in the previous attempt. The upgrade was initially set for early Oct but few miners participated. Mimblewimble will introduce privacy and improve performance making Litecoin the largest cryptocurrency network by market cap to enhance its privacy.
The Cryptocurrency market continues to drive itself higher, especially with XRP leading the way. Bullishness seems to be taking over, however the intensity and momentum displayed shows that this move higher might not last as there’s no power behind it. Bears might be waiting for that ideal resistance to stop any kind of movement higher and might even force the Cryptocurrencies to fall back. With that said, let’s find out what today holds for the Cryptocurrencies on October 6th, 2020.
In Q3, DeFi transaction volumes in Tron rose 26X as TRX prices rallied, adding 64 percent from Q2 close according to a DappRadar report. Most were captured by three of the network’s leading DeFi platforms including the Sun, Just, and JustSwap.
Full nodes (validators) of the Eth2 Medalla test network now store over 75 GB worth of transactions after being operational for approximately two months. During this time, over 2 million “virtual” ETH has been staked as full nodes continue to be in “archive” mode. At this state, every transaction change in the test network is kept, which isn’t usually the case in the mainnet.
The Chamber of Digital Commerce has announced that an initiative supported by the Congressional Blockchain Caucus members dubbed “Crypto for Congress” is now active. It will see U.S policymakers receive Bitcoin as campaign contributions as a way of helping them better understand cryptocurrencies.
There has been some minor volatility during the weekend in the Cryptocurrency Market. There wasn’t much happening in the main market, but Ripple was spotted having a pretty intense rally, and this was all on it’s own without the help of either ETH or BTC. With that said, let’s find out what today holds for the Cryptocurrencies on October 5th, 2020.
After the consolidation that has happened for the past week, it would seem that the Bears have had enough of these high prices and decided to attack which left the market in a stupor trying to fend off this recent attack. Bulls have been struggling to pull past some recent resistances that have diminished their momentum that much more allowing the Bears to capitalize and force prices lower. With that said, let’s find out what today holds for the Cryptocurrencies on October 2nd, 2020.
The end of the month and the beginning of the new one is marked by the continuation of the consolidation in the Cryptocurrency market. Eversince the drop that happened back in the beginning of September, this market was overwhelmed by the bearish pressure, however slowly but sternly the market was able to rebound and consolidate at current levels. With that said, let’s find out what today holds for the Cryptocurrencies on October 1st, 2020.
After the ping pong match between the Bulls and the Bears, it seems that the score has reached a tie. Neither of the two schools were able to really find the momentum to break through the other’s defences as things seemed to settle on a back and forth, as both currently wait for the ideal opportunity to strike and switch things into their favor. With that said, let’s find out what today holds for the Cryptocurrencies on September 30th, 2020.
The Ping-Pong between the Bears and Bulls continues as neither is able to hold down any kind of significant lead over the other in order to establish a trend. At one point we see that the Bulls are in control and everything is going fine with trading prices rising. Before we know it we find the Bears back in the game reducing the move of Bulls back to square one. Noone is really getting the upper hand. With that said, let’s find out what today holds for the Cryptocurrencies on September 29th, 2020.
After the move higher in the Cryptocurrency market, Cryptocurrencies were able to hold their own and managed to consolidate at the higher levels as the Bears couldn’t push them back lower. However, at the same time Bulls didn’t have the needed momentum to continue moving higher, which led to a consolidation phase taking part over the weekend. With that said, let’s find out what today holds for the Cryptocurrencies on September 28th, 2020.
Yesterday we asked the question whether or not the current supports, that the Cryptocurrency market is using to stave off the downward pressure, are going to hold up. That question was answered as the bounce from those support levels targeted the previously failed resistances and the market is trying once again to rise to the occasion. With that said, let’s find out what today holds for the Cryptocurrencies on September 25th, 2020.
The bearish pressure continues to mount in the Cryptocurrency market. Yesterday we saw how these instruments were, more or less, trading in a sideways manner, today we see the bearish pressure increase once again and force the Cryptocurrencies back to important supports. However, it would seem that these levels are holding up, but for how long? With that said, let’s find out what today holds for the Cryptocurrencies on September 24th, 2020.
The recent bearish pressure that hit the Cryptocurrency market has forced all Cryptocurrencies to fall after all the cryptos failed to break above their respective important resistances. This is where we find them this morning as these Cryptocurrencies seem to be holding the line for the time being and managing to stop the bearish pressure from completing its plan to wreak havoc on this market. With that said, let’s find out what today holds for the Cryptocurrencies on September 23rd, 2020.
It was only a matter of time before the Bears noticed exactly what was happening in the market and forced their will and way in. The Cryptocurrency market suffered another bout of bearish pressure, enough to send it back down and the prospect of another bullish rally is somewhat shattered. However, with the presence of important supports at the lower bound, it’s tough to say that the bearish pressure will continue. With that said, let’s find out what today holds for the Cryptocurrencies on September 22nd, 2020.
During the weekend, another bout of bullishness was witnessed in the Cryptocurrency market. The Cryptocurrencies continued to follow Bitcoin’s lead which saw it move higher on a very brief bullish momentum that saw it reach towards the $11,200. However, bearishness and selling pressure won over forcing the Cryptomarket lower but not by much. With that said, let’s find out what today holds for the Cryptocurrencies on September 21st, 2020.
Yesterday we witnessed how the Cryptomarket was affected by none other than Bitcoin, how this Cryptocurrency was able to hold on to its level while all other Altcoins simply fell. The result was another bout of bullishness from those Altcoins which led them back higher. Today, we are witnessing some of that negative pressure push through especially after all the Cryptocurrencies have attacked their respective resistances but weren’t able to break them. With that said, let’s find out what today holds for the Cryptocurrencies on September 18th, 2020.
It’s all about Bitcoin these days as the #1 Cryptocurrency was able to withstand the fall of the Altcoins and continue trading sideways only to prove its power by breaking through the $11,000 and helping along with the Altcoins back into their high positions. So yes, the focus seems to remain on Bitcoin as the Cryptocurrency seems to be setting the pace of the market for the time being. With that said, let’s find out what today holds for the Cryptocurrencies on September 17th, 2020.
The Cryptocurrency Market is behaving in such a peculiar manner. While it’s normal to have some divergence between the Cryptocurrencies, when it comes to magnitude from time to time, they don’t usually experience different directions. With that said, let’s find out what today holds for the Cryptocurrencies on September 16th, 2020.
Markets seem to be bouncing all over the place as one time we see them falling from the recent resistances and the other moment we see them catapulting themselves higher breaking through those same levels. It’s quite dizzying to say the least, but we might have a bullish trend on our hands albeit a slight one. With that said, let’s find out what today holds for the Cryptocurrencies on September 15th, 2020.
Once again we find the Cryptomarket trying to test the resistances that were once considered as supports, as if confronting a friend that has turned into an enemy. Well, not as dramatic but you get the picture. These levels have made it very difficult for the Cryptomarket to stage any kind of meaningful rally as with every upward move, a new level waits to send it back down. With that said, let’s find out what today holds for the Cryptocurrencies on September 14th, 2020.
We know that we keep talking about the move downwards and how it has messed up all the Bulls plans to record new levels higher, but that’s just because it was such an important move that we couldn’t not talk about it. Just like how the current move in the Cryptocurrency market is seeing a resurgence in the bullish energy after the current supports have been able to hold the downtrend in place as we see Cryptocurrencies begin to rise. With that said, let’s find out what today holds for the Cryptocurrencies on September 10th, 2020.
Markets remained in their current ranges as no major moves higher or lower were observed, however, there’s been a change in the momentum of the markets. It’s not that the initial downward trend has been reversed, but where it died down a bit yesterday, we see it increasing again today. If we didn’t know any better we’d say that it’s all part of the consolidation phase, but we do, and we think that the bearish momentum is increasing and threatening another move lower. With that said, let’s find out what today holds for the Cryptocurrencies on September 9th, 2020.
After the devastating moves of the cryptocurrency market, it wasn’t totally irregular that we see some sort of correction higher or a consolidation around the current levels of the markets. The bearish pressure that almost wiped out all the gains that Bulls made during the past 2 months, has somewhat decreased, but the presence is still very much alive. With that said, let’s find out what today holds for the Cryptocurrencies on September 8th, 2020.
The downwards trend seemed to continue well into the weekend as we see the cryptocurrency market continue to move even lower, effectively eradicating most, if not all, of the positive momentum and gains that it had made during the months of July and August. As September properly kicks off, it seems that the Bears have had their summer vacation and now it’s back to the markets to work; we see them going back in earnest. With that said, let’s find out what today holds for the Cryptocurrencies on September 7th, 2020.
“MAYDAY! MAYDAY! We’re going to…” The crash has already happened and things aren’t looking pretty for any of the Cryptocurrencies this Friday morning. We wake up to see that the market didn’t just crash, it nosedived past crucial supports and reached levels that it hasn’t seen in almost two months. We can truly and safely say that the bullish momentum that we had seen in the past month is truly gone. With that said, let’s find out what today holds for the Cryptocurrencies on September 4th, 2020.
Just yesterday were we talking about the downside of the market and how the Bulls have extended their run higher without any major resistance from Bears to keep them in check, however, as they reached critical levels, the Bears retaliated with major damage to the Cryptocurrency market as we see the market falter and seem in a tough position. After what’s done, we can’t say that the Bulls have finished their job, at least not yet. With that said, let’s find out what today holds for the Cryptocurrencies on September 3rd, 2020.
The cryptocurrency market seems to have continued to play host to the Bulls of the market as we see another wave of upward pressure make its way into this market and help these digital assets climb higher retesting important supports although many market participants said this won’t happen. We believe that they must be feeling pretty vindicated right about now, but what about the downside? With that said, let’s find out what today holds for the Cryptocurrencies on September 2nd, 2020.
Things seem to be looking up for the crypto market after the mid August meltdown that it witnessed, causing all cryptocurrencies to drop back to levels they haven’t seen in quite some time. However, this move was the needed kick for Bulls to get off their couches and take control over from Bears, in an attempt to keep the momentum going higher. With that said, let’s find out what today holds for the Cryptocurrencies on September 1st, 2020.
Was it only a matter of time before the bearish pressure that was accumulating on the crypto market dissipated, or was it more of bullish resilience that caused the market to find its mojo and head on to break important resistances? We start off the week with just that question in mind as all the cryptos have managed to bounce off important supports and end up higher. With that said, let’s find out what today holds for the Cryptocurrencies on August 31st, 2020.
The bearish pressure continues to implement its goals; to see everything fall back into certain ranges and probably even lower. This is where we find the Cryptocurrency market as we experience another wave of downward pressure forcing crypto instruments to fall below their important supports, or at the very least, another test to see if breaking them would happen. With that said, let’s find out what today holds for the Cryptocurrencies on August 28th, 2020.
The battle for dominance over the Cryptocurrency market continues between the Bulls and the Bears. Last we left them, the Bears had managed to seize some grounds against the Bulls as we saw major cryptos fall from their levels and break important supports, however, the Bulls couldn’t let this move continue as they stepped up and succeeded in holding the move downwards. This back and forth movement has brought consolidation back into the mix as the sideways action continues to be the most prominent feature of these markets. With that said, let’s find out what today holds for the Cryptocurrencies on August 27th, 2020.
While the cryptocurrency market struggled to move higher and continued to move in a sideways fashion, Bears were plotting their next move and it was time they acted according to that plan. The result was a move lower, breaking through important supports and establishing a new trend. At the very least, it’s a decent correction from the highs the market has been experiencing. With that said, let’s find out what today holds for the Cryptocurrencies on August 26th, 2020.
Markets still struggle with their movement higher, especially in current conditions where sellers seem to be adamant on not allowing the Bulls to have their way in the cryptocurrency market. Every time the markets move higher, they’re met with overwhelming selling pressure at key points making life for Bulls much harder. However, demand has never been higher for these instruments as they’re slowly becoming an inflation safe asset not unlike Gold, but with an extra dose of volatility. With that said, let’s find out what today holds for the Cryptocurrencies on August 25th, 2020.
After the cryptocurrency market experienced an increase in volatility over the past week, we find ourselves within an opposite scenario where that same volatility has seemed to simply die down. All the major cryptocurrencies have had their share of movements, whether higher or lower, but as things currently stand, they seem to be content in waiting things out and consolidating until the next catalyst moves them. With that said, let’s find out what today holds for the Cryptocurrencies on August 24th, 2020.
Volatility seems to have died down in the cryptocurrency market. What started out with positive momentum in these markets, something that led to new yearly highs, quickly turned into negative momentum as the same markets struggled to stay within the ranges they were used to. All of this increased the sense of volatility in the markets, however, it seems that this volatility has died down as cryptoassets turn sideways for the time being. With that said, let’s find out what today holds for the Cryptocurrencies on August 21st, 2020.
Continued bearishness is the what the current cryptomarket is experiencing. Ever since the cryptoassets managed to move higher, they’ve been struck by a Bear claw and have continued moving lower, so much so, that the gains they managed to make during the rise have all been gone and the markets have reentered consolidation zones, however, downward bias is clearly written all over them. With that said, let’s find out what today holds for the Cryptocurrencies on August 20th, 2020.
Bullishness and Bearishness, that’s how financial markets operate. One moment you might see the markets on the rise recording new yearly highs and the very next moment the bearish pressure can be overwhelming the markets and leading them all the way down. This is exactly where we spot our Cryptocurrency market this morning; sinking in its retreat after the Cryptocurrencies recorded new highs just one day earlier. With that said, let’s find out what today holds for the Cryptocurrencies on August 19th, 2020.
The only possible way to explain what’s been happening in the cryptocurrency market lately is by saying that the market has been experiencing bouts of extremely bullish behaviour, followed by some consolidation or minor retracement. It’s as if the Bulls are simply emptying their entire clip on a single move, then market participants are stuck waiting for the reload to happen so the shooting can commence all over again. With that said, let’s find out what today holds for the Cryptocurrencies on August 18th, 2020.
There have been some minor upward movements during the weekend session as the Cryptocurrency market moved higher and touched upon major resistances, in some cases, it even broke through them. Technically speaking, it’s a minor move because the distance crossed was rather small compared to the achievements they have previously made. The fun now is observing if they’ll manage to hold onto these levels or not. With that said, let’s find out what today holds for the Cryptocurrencies on August 17th, 2020.
Volatility is the looming vibe over the Cryptomarket, that’s for sure! Markets don’t act the way the cryptocurrency market is acting unless there’s an increase of volatility that’s driving them higher. Volatility also makes them prone to random spikes higher or lower as we’ve seen has been happening in the past few weeks. August was supposed to be a dead month for all markets, not just for the forex market, however, during this month we’ve seen these digital assets record higher highs and lower lows completely disregarding the lack of market participants. With that said, let’s find out what today holds for the cryptocurrencies on August 14th, 2020.
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