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Shanghai Man: Aping out of gorilla token, digital dollar Biden its time… and more

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Memecoin culture clash

Feed the gorillas token, or FEG, was a source of drama after memes were posted of Chinese . . . → Read More: Shanghai Man: Aping out of gorilla token, digital dollar Biden its time… and more

Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders

Cryptocurrency price corrected sharply today, including Ether (ETH), but this is a short-term move which is not reflective of the more macro-level events which still paint a bullish picture for assets like Ether and Bitcoin.

In the last 30 days, Ether price gained 96%, moving from $2,138 to $4,200 on May 11. Normally . . . → Read More: Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders

Alpha Homora defies market slump, bolsters TVL and token price on v2 relaunch

After a rocky first quarter, decentralized finance (DeFi) platform Alpha Homora announced the relaunch of its v2 leveraged yield farming program today — and so far both traders and users are celebrating as both total value locked (TVL) and ALPHA token prices soar. 

The version 2 of the platform, which allows for leverage . . . → Read More: Alpha Homora defies market slump, bolsters TVL and token price on v2 relaunch

Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Ether (ETH) initiated a rally on April 25, which resulted in a 90% gain that pushed the price to $4,200. The nonstop action has been fueled by an incredible increase in decentralized finance (DeFi) applications, where the total value locked has surpassed $74 billion, a 51% increase in 18 days.

This positive momentum has . . . → Read More: Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Tesla CEO Elon Musk tweeted on May 13 that the company will stop accepting Bitcoin (BTC) payments for its vehicle purchases, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.”  Shortly after the announcement, Bitcoin price dropped by 17% to hit a new local low at $46,000.

While Musk’s . . . → Read More: Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Ratio of Ether’s market cap doubled Bitcoin in the last year – Pantera Capital

The market capitalization of Ether (ETH) has increased at a much faster rate than Bitcoin’s (BTC) over the past year, highlighting the relative outperformance of ETH versus BTC over that period. 

In its latest Blockchain Letter, cryptocurrency investment manager Pantera Capital charted Ether’s growth trajectory. “The ratio of ethereum’s market cap to Bitcoin’s market . . . → Read More: Ratio of Ether’s market cap doubled Bitcoin in the last year – Pantera Capital

Unstoppable Domains’ .crypto websites now available via Brave browser

Major privacy-focused browser Brave is the latest browser to integrate support for decentralized domains by blockchain domain name provider Unstoppable Domains.

Brave announced Thursday that its browser now provides native support for the crypto domain name company, allowing users to seamlessly access “.crypto” domains via desktop and Android applications.

The new feature unlocks access . . . → Read More: Unstoppable Domains’ .crypto websites now available via Brave browser

Mark Cuban counters Elon Musk, says Mavs will continue to accept Bitcoin

Billionaire investor Mark Cuban will not be following in Tesla CEO Elon Musk’s footsteps in withdrawing support for Bitcoin (BTC) payment.

Tweeting in response to Musk on Wednesday, the Dallas Mavericks owner remarked that the Mavs will continue to accept Bitcoin, Ether (ETH) and Dogecoin (DOGE) as payment means for tickets and merchandise . . . → Read More: Mark Cuban counters Elon Musk, says Mavs will continue to accept Bitcoin

Bitcoin price fails to build $50K support as traders eye lower levels next

Bitcoin (BTC) dipped below $50,000 again on Thursday as the fallout from Elon Musk’s criticism continued to resonate.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders wait for telltale buy signals

Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD failing to establish $50,000 as support after initially dipping to $45,650.

Musk, speaking as CEO . . . → Read More: Bitcoin price fails to build $50K support as traders eye lower levels next

Here’s why Ethereum, Aave, ALPHA are unfazed by Bitcoin’s latest ‘Elon candle’

Bitcoin (BTC) and altcoins’ markets lost a combined total of up to $602 billion overnight in a shocker brought forth by Elon Musk.

The billionaire entrepreneur did an about-turn on his decision to accept Bitcoin for the electric vehicles offered by his company Tesla. He cited environmental concerns, noting that Bitcoin mining requires many . . . → Read More: Here’s why Ethereum, Aave, ALPHA are unfazed by Bitcoin’s latest ‘Elon candle’

SoftBank founder hesitant on Bitcoin but says it ‘can’t be ignored’

Tesla’s tag game with Bitcoin (BTC) might have triggered a race in the corporate world to invest in crypto, however, SoftBank still prefers to take a more cautious approach. Answering questions at SoftBank’s earnings news conference, SoftBank CEO Masayoshi Son admitted that he doesn’t know whethe crypto is good or bad.

“There’s a . . . → Read More: SoftBank founder hesitant on Bitcoin but says it ‘can’t be ignored’

Sotheby’s crypto-powered auction sells Banksy art for $13M

Major auction house Sotheby’s has completed its cryptocurrency-enabled auction offering Banksy’s iconic protest artwork “Love is in the Air.”

According to the auction results, Sotheby’s sold the physical artwork on Wednesday for $12.9 million, significantly up from the originally estimated $3 million to $5 million. The physical artwork was offered at a Contemporary Art . . . → Read More: Sotheby’s crypto-powered auction sells Banksy art for $13M

3 reasons why Bitcoin doesn’t care about Elon Musk

Bitcoin (BTC) dived 17% when Tesla CEO Elon Musk criticized its energy consumption — but it’s already bouncing back.

On Thursday, fresh from its dip to $45,600, BTC/USD is trading above $51,000, having regained over half its lost ground. 

With the drama still spreading, Cointelegraph considers why, on a fundamental level, Bitcoin is ultimately . . . → Read More: 3 reasons why Bitcoin doesn’t care about Elon Musk

Gemini’s crypto custody tops $30B as analyst predicts Coinbase shares will fall to $100

The Winklevoss twins’ Gemini exchange now has $30 billion worth of cryptocurrencies under custody as competition heats up among top U.S. exchanges.

In a May 11 announcement, the exchange attributed much of the growth this year to strong demand from institutional clients:

“Tracking with the impressive growth of the crypto market this . . . → Read More: Gemini’s crypto custody tops $30B as analyst predicts Coinbase shares will fall to $100

Finance Redefined: Never a dull day in DeFi! May 5–12

Never a dull day indeed. 

Today was among the busiest in recent DeFi memory, featuring a hack worth eight figures, a token dump worth upwards of eleven from none other than Ethereum co-founder Vitalik Buterin himself, a significant update on institutional adoption from Aave, and a proposal on Uniswap’s governance forums to turn . . . → Read More: Finance Redefined: Never a dull day in DeFi! May 5–12

Bitcoin, altcoins and stocks drop as inflation fears impact investor confidence

The cryptocurrency market corrected sharply on May 12 after the hype surrounding dog-themed tokens was deflated when Ethereum co-founder Vitalik Buterin dumped vast amounts of the previously hot Shiba Inu (SHIB), Dogelon Mars (ELON) and Akita Inu (AKITA) on the market and donated the proceeds to charity. 

Data from Cointelegraph Markets and TradingView shows that as . . . → Read More: Bitcoin, altcoins and stocks drop as inflation fears impact investor confidence

Dog day afternoon as Vitalik dumps multiple memecoins in the name of charity

The dog-themed race up the cryptocurrency charts came to an abrupt halt on May 12 as a majority of the previously hot meme tokens including Shiba Inu (SHIB) and Dogelon Mars (ELON) saw their prices drop more than 40% with Ethereum (ETH) co-founder Vitalik Buterin emerging as the main culprit behind the selloff. 

Data . . . → Read More: Dog day afternoon as Vitalik dumps multiple memecoins in the name of charity

Ethereum price aims for $5K after reaching 3-year high versus Bitcoin

Ether (ETH) set a second all-time high on May 12 as the largest altcoin continued on its way to what analysts say will be $5,000.

ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview Funding rates could hold key to ETH resilience

Data from Cointelegraph Markets Pro and TradingView tracked ETH/USD as the pair put in two . . . → Read More: Ethereum price aims for $5K after reaching 3-year high versus Bitcoin

DeFi lending platform Aave reveals ‘permissioned pool’ for institutions

The banks are out of the bag: In a Tweet on Wednesday, Stani Kulechov, co-founder of decentralized finance money market protocol Aave, revealed that the Aave protocol has built a “private pool” for institutions to “practice” before getting involved with the DeFi ecosystem. 

Earlier on Wednesday, a Twitter user posted an angry tweet . . . → Read More: DeFi lending platform Aave reveals ‘permissioned pool’ for institutions

Griff Green: Doge-loving hippy hacker steals crypto before bad guys can

The organizer of The Robin Hood Group — which once stole 10% of all circulating ETH from under a black hat hacker’s nose — wants to change the way we think about charity.

A former chemical engineer, Griff Green, 36, traded in his savings for precious metals, which he used to travel the world . . . → Read More: Griff Green: Doge-loving hippy hacker steals crypto before bad guys can

Ether breaks $500-billion market cap for the first time

Ether (ETH), the second most-valued cryptocurrency after Bitcoin (BTC), has hit a major milestone amid the ongoing price rally.

On Wednesday, Ether’s price set another historic record, surging to as high as $4,346, according to data from CoinMarketCap. Ethers market capitalization briefly surpassed $500 billion, reaching nearly $505 billion on Wednesday.

The new milestone marks . . . → Read More: Ether breaks $500-billion market cap for the first time

Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

Bitcoin (BTC) gained 4.3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price reverses upwards

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day’s losses on Wednesday to trade above $57,500 at the time of . . . → Read More: Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

Uniswap flips Bitcoin on daily revenue… and it’s more impressive than you think

Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row.

The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from CryptoFees, a website that compares the daily fees generated by the top blockchain networks.

Uniswap has fully flipped #Bitcoin in . . . → Read More: Uniswap flips Bitcoin on daily revenue… and it’s more impressive than you think

EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday’s drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen . . . → Read More: EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates

Cryptocurrency traders awoke to an altcoin bonanza as a handful of meme tokens, along with some of the more established projects, staged double-digit rallies while Bitcoin (BTC) price slowly recovers to the $57,000 level. 

The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by . . . → Read More: Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates

Bullish sentiment begins to fade after Ethereum all-time high at $4,200

The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion.

In the face of such . . . → Read More: Bullish sentiment begins to fade after Ethereum all-time high at $4,200

Hungary plans Bitcoin tax cut as part of economic recovery program

Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the COVID-19 pandemic.

In a video that appeared on Facebook Tuesday, Finance Minister Mihály Varga outlined the government’s stimulus program through 2022. As part of . . . → Read More: Hungary plans Bitcoin tax cut as part of economic recovery program

Chia network not so green? CPU mining reportedly destroys SSD in weeks

Chia Network, which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems.

Unlike Bitcoin, Ethereum and others, Chia Network mines coins using an alternative to the energy-intensive proof-of-work. CHIA coins are produced using only hard . . . → Read More: Chia network not so green? CPU mining reportedly destroys SSD in weeks

South Koreans flock to crypto amid a heavy-handed regulation approach

In South Korea, one in three citizens either own cryptocurrencies or get paid in them. One-tenth of its population trades digital assets, and its youth unemployment rate hovers above 10%. It’s a competitive job market in the East-Asian nation, where high expenses enforce hierarchical social structures, and financial stability can seem like a . . . → Read More: South Koreans flock to crypto amid a heavy-handed regulation approach

Indonesia considers capital gains tax on cryptocurrency trades

Neilmaldrin Noor, a spokesperson for the Indonesian Directorate General of Taxes, said that the authority is considering a tax scheme for capital gains generated from cryptocurrency trades, Reuters reports Tuesday.

“It is important to know that if there is a profit or capital gain generated from a transaction, the profit is an object . . . → Read More: Indonesia considers capital gains tax on cryptocurrency trades

CBOE files another Bitcoin ETF application with the SEC

The Chicago Board Options Exchange, or CBOE, has filed Fidelity’s Wise Origin Bitcoin (BTC) exchange-traded fund with the United States Securities and Exchange Commission.

CBOE filed a Form 19b-4 on Monday seeking to list  Fidelity’s Wise Origin Bitcoin Trust Bitcoin ETF that was initially submitted to the SEC by the $4.9 trillion asset . . . → Read More: CBOE files another Bitcoin ETF application with the SEC

Kazakhstan’s government to create roadmap for developing crypto market

Kazakhstan’s government forming a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country.

State authorities have reviewed proposals to address the crypto industry’s development and reconsider the state’s approach to regulating crypto operations, according to a Tuesday announcement on the website of the Prime Minister of Kazakhstan.

. . . → Read More: Kazakhstan’s government to create roadmap for developing crypto market

Shiba Inu hits another exchange as SHIB deposits overwhelm Binance

Shiba Inu (SHIB) was listed on three different cryptocurrency exchanges in the past 48 hours after an explosive 966% surge in the same time frame sent the token to 18th in the market capitalization rankings.

Self-described as the “Dogecoin Killer,” SHI’s instant addition to Binance on Monday surprised onlookers, many of whom expected . . . → Read More: Shiba Inu hits another exchange as SHIB deposits overwhelm Binance

PS5 stock is hard to find — but sites that accept crypto are coming to the rescue

It was one of the most-anticipated releases of a games console for years — the PlayStation 5.

Sony’s latest hi-spec model also couldn’t have come at a better time. Making its long-awaited debut in November 2020, gamers had high hopes of keeping entertained during a harsh winter… and averting boredom . . . → Read More: PS5 stock is hard to find — but sites that accept crypto are coming to the rescue

Ether balances on centralized exchanges fall to lowest level since June 2019

According to analysis from on-chain analytics provider Glassnode, the sum of Ethereum on exchanges has fallen to its lowest level for almost two years.

Glassnode estimates that just 13.3 million Ether is currently held on centralized exchanges, the lowest it has been since June 2019. As such, centralized platforms hold roughly $52.4 billion worth . . . → Read More: Ether balances on centralized exchanges fall to lowest level since June 2019

Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%. 

It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also . . . → Read More: Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

iExec RLC rallies 400% after big-name collaborations and Coinbase listing

Since the summer of 2020, decentralized exchanges (DEX) have been all the rage and in 2021 developers and investors continue to flock to the sector due to the ease of listing and buying into new projects.

While the method has proved fruitful for many projects, the price performance for iExec RLC (RLC), a blockchain-based . . . → Read More: iExec RLC rallies 400% after big-name collaborations and Coinbase listing

Dogecoin imitator Shiba Inu pumps 146% on Binance listing

Having emerged with the self-applied moniker of “Dogecoin Killer,” the latest cryptocurrency to succeed on laughs alone is making its way to Binance.

Shiba Inu (SHIB) burst into CoinMarketCap’s top 20 rankings just two days ago, likely a response by traders to the hype surrounding Dogecoin (DOGE). Within 48 hours the SHIB . . . → Read More: Dogecoin imitator Shiba Inu pumps 146% on Binance listing

Canadian Bitcoin ETF issuer seeks ‘green BTC’

Ninepoint Partners LP, one of Canada’s Bitcoin (BTC) exchange-traded fund issuers, has announced plans to offset the carbon footprint of its BTC ETF product.

According to a release issued on Monday, Ninepoint has inked a partnership with carbon offsetting service provider CarbonX. As part of the partnership, Ninepoint will dedicate an undisclosed portion . . . → Read More: Canadian Bitcoin ETF issuer seeks ‘green BTC’

Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week

Bitcoin (BTC) is off to yet another fighting start on Monday, hitting $59,500 — is this the week we see $60,000?

After a promising but restrained weekend, BTC/USD is once again back to beating out resistance as major markets reopen.

Given the strength of underlying technicals and buyer demand, bulls may have cause for . . . → Read More: Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week

BTC could trade for $250K within five years: Morgan Creek Capital CEO

Morgan Creek Capital Management founder and CEO believes Bitcoin’s next market cycle could see the asset rival gold by market capitalization and trading for more than $200,000.

While appearing on CNBC’s Trading Nation on May 9, Mark Yusko compared the rapid adoption of Bitcoin to the growth of FAANG companies — Facebook, Apple, . . . → Read More: BTC could trade for $250K within five years: Morgan Creek Capital CEO

Ethereum continues wild run, ETH price breaks $4,000 for the first time

Ether (ETH) eclipsed $4,000 for the first time on May 10, passing the psychologically significant barrier on multiple exchanges including Coinbase. The new milestone comes just a week after breaking $3,000.

ETH/USD 4-hour candle chart (Coinbase). Source: Tradingview

Last week, ETH overtook Bank of America as the 28th largest asset in the world. But . . . → Read More: Ethereum continues wild run, ETH price breaks $4,000 for the first time

Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel

During an interview with Bloomberg TV on May 3, Binance CEO Changpeng Zhao suggested that Bitcoin (BTC) “is probably less volatile” than the stock prices of Apple (AAPL) and Tesla (TSLA).

Zhao argued that crypto’s volatility was not unlike the stock market, adding: that “volatility is everywhere” and that “it is not unique to . . . → Read More: Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel

Top 5 cryptocurrencies to watch this week: BTC, BNB, ADA, LTC, LINK

Over the past week, several traders bought Dogecoin (DOGE) leading up to Elon Musk’s Saturday Night Live appearance as they expected a pump. However, the mention of Dogecoin during the monologue by Musk did not produce the rally traders were looking for and professional traders may have dumped their positions on novice traders who . . . → Read More: Top 5 cryptocurrencies to watch this week: BTC, BNB, ADA, LTC, LINK

The great tech exodus: The Ethereum blockchain is the new San Francisco

Remember the “Silicon Valley Tech Bubble”? In the early- to mid-2000s, the San Francisco Bay Area gave birth to some of the most storied and successful technology companies the world has ever seen. Facebook, Google, Salesforce, Twitter, Tesla, Lyft — the list itself could take up half of this article. From the palpable . . . → Read More: The great tech exodus: The Ethereum blockchain is the new San Francisco

The rise of DEX robots: AMMs push for an industrial revolution in trading

Centralized exchanges play an important role in the cryptocurrency industry. While their decentralized exchange counterparts have been growing in popularity and usage since 2020, the overwhelming majority of crypto trading volume is still concentrated on centralized exchanges. 

The supremacy of CEXs can be clearly observed in the size and popularity of trading platforms . . . → Read More: The rise of DEX robots: AMMs push for an industrial revolution in trading

Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain. 

Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and . . . → Read More: Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

GBTC discount presents a unique challenge for Grayscale and investors

Since 2013 the Grayscale Bitcoin Trust Fund (GBTC) has offered its investors exposure to Bitcoin (BTC) through a publicly quoted private instrument. However, the trust’s convertibility and liquidity vastly differ from an Exchange Traded Fund (ETF).

Trusts are structured as companies, at least in regulatory form, and are ‘closed-end funds’ which can initially only . . . → Read More: GBTC discount presents a unique challenge for Grayscale and investors

Ether dazzles, Dogecoin fears, Elon Musk’s big night, Bitcoin boosts Square: Hodler’s Digest, May 2–8

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week Altcoins rally as bulls pile into large-cap tokens and . . . → Read More: Ether dazzles, Dogecoin fears, Elon Musk’s big night, Bitcoin boosts Square: Hodler’s Digest, May 2–8

Rari Capital falls victim to $11 million exploit

After a $11 million attack earlier today, Rari Capital is the latest decentralized finance (DeFi) protocol to fall victim to a high-priced exploit 

The platform, which builds optimized yield vaults and boutique lending pools, confirmed the attack in a Tweet and said that a full postmortem is forthcoming:

There has been . . . → Read More: Rari Capital falls victim to $11 million exploit

Art reimagined: NFTs are changing the collectibles market

Art has been serving as the ultimate source of inspiration to many people throughout all of history. In the era of cryptocurrencies and the digitized world, trends change faster than ever. For years, numerous artists have tried stepping into rapidly advancing playgrounds and grabbing their slice of pie, but now their time has . . . → Read More: Art reimagined: NFTs are changing the collectibles market

$85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

Legendary NFT developers Larva Labs were the victims of an exploit this morning, as an attacker found a way to mint a rare NFT worth over $700,000 from the “Meebits” collection. 

The attacker, 0xNietzsche, teased the exploit on Twitter this morning, saying he anticipated making “$300,000 per hour” throughout the duration of the . . . → Read More: $85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

As Bitcoin’s payment options grow, BTC true future role up for debate

In an August 2020 paper “Is bitcoin money?” Peter Hazlett and William Luther wrote that there exists only “a small corner of the internet where transactions are routinely conducted with Bitcoin serving as the medium of exchange.” But that corner may be growing into a room, or even a house now. 

“Demand for . . . → Read More: As Bitcoin’s payment options grow, BTC true future role up for debate

What are the chances BTC is actually overtaken by another crypto?

When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency’s price feels hard to believe at times and investors might be pinching themselves every now and then. Taking a seat alongside Bitcoin (BTC) . . . → Read More: What are the chances BTC is actually overtaken by another crypto?

Alt season rush: Ethereum and DeFi get in shape for another hot summer

Altcoins like Ether (ETH), Dogecoin (DOGE) and Ethereum Classic (ETC) are spearheading a new alt season that seems to have taken off with a bang. Since a rising tide usually lifts all boats, there are several other cryptocurrencies that are benefiting from this growing interest in altcoins. Ether, however, may be the one generating . . . → Read More: Alt season rush: Ethereum and DeFi get in shape for another hot summer

1INCH price hits a new high as the top DEX aggregator vies for DeFi dominance

As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis. 

One of the top DEX aggregators that has recently seen its . . . → Read More: 1INCH price hits a new high as the top DEX aggregator vies for DeFi dominance

Qtum price rallies 160% as the project’s focus on DeFi pays off

After rallying 1.510% in 2021, QTUM price hit a $35.70 all-time high on May 7. This relatively obscure altcoin launched in September 2017 is a fork of the Bitcoin Core 0.13 version, but it also integrates the Ethereum virtual machine (EVM) and smart contract execution capability. 

Following Bitcoin’s (BTC) April 23 crash down to . . . → Read More: Qtum price rallies 160% as the project’s focus on DeFi pays off

6 crypto-centric songs you may not have heard

While the cryptocurrency industry is mostly centered around technology and data, the people who inhabit our sector are not without their creativity. This is seen not only in the various solutions and inventions they create, but also in their artistic (and often humorous) works.

Over the years, folks of the crypto space have . . . → Read More: 6 crypto-centric songs you may not have heard

Price analysis 5/7: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, UNI

Goldman Sachs has started offering its clients access to Bitcoin (BTC) trading through non-deliverable forwards, according to Bloomberg Law. Max Minton, Goldman’s Asia-Pacific head of digital assets, said that “institutional demand continues to grow significantly in this space.”

Even Citigroup plans to introduce crypto-related services due to the increasing demand from asset managers and hedge . . . → Read More: Price analysis 5/7: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, UNI

‘Unprecedented capital inflows into Bitcoin’ remove 12K BTC from Coinbase in an hour

Another day, another spike in Bitcoin (BTC) leaving major exchange Coinbase as funds pour into the largest cryptocurrency.

Data from on-chain monitoring resource Glassnode showed 12,354 BTC ($694 million) being withdrawn from the Coinbase order book in a single hour on Friday.

Coinbase sees another BTC balance squeeze

As the largest exchange in the . . . → Read More: ‘Unprecedented capital inflows into Bitcoin’ remove 12K BTC from Coinbase in an hour

Turkish government to track crypto transactions over $1,200

Crypto exchanges with a presence in Turkey must now inform the Financial Crimes Investigation Board, or MASAK, about any crypto transactions over 10,000 Turkish liras ($1,200). 

Turkish Minister of Treasury and Finance Lütfi Elvan announced the new policy on a CNN Turk live broadcast last night. 

Two weeks after a $150-million fraud involving a . . . → Read More: Turkish government to track crypto transactions over $1,200

Three reasons why EOS price has pumped 100% in three days

The EOS price is in double-digits for the first time since mid-2018 after a parabolic advance that began back in March.

According to data from Coingecko, the 20th-ranked crypto by market capitalization is currently sitting above $11.50, delivering close to 100% gains over the last three days.

First, the current EOS upward advance is . . . → Read More: Three reasons why EOS price has pumped 100% in three days

Citigroup considers crypto amid surge in customer demand on Wall Street

Citigroup is reportedly considering offering crypto-related services to its customers in response to rising demand, specifically from asset managers and hedge funds.

The financial services firm’s global head of foreign exchange, Itay Tuchman, told the Financial Times on Friday that the investment bank was already exploring the possibility of providing crypto services to . . . → Read More: Citigroup considers crypto amid surge in customer demand on Wall Street

Ethereum Classic gains 300% in one week as traders rush to buy the ‘wrong Ethereum’

The “original” yet ironically “wrong” Ethereum and Telcoin (TEL) are leading a fresh altcoin surge this week. Bitcoin (BTC) fans are already calling time on the fun.

Ethereum Classic (ETC), the pet favorite of Digital Currency Group founder Barry Silbert, is up 300% in a week.

ETC hits $180: Bull market or “casino . . . → Read More: Ethereum Classic gains 300% in one week as traders rush to buy the ‘wrong Ethereum’

Almost twice as much ETH locked in DeFi as on exchanges: Glassnode

Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall.

On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges . . . → Read More: Almost twice as much ETH locked in DeFi as on exchanges: Glassnode

Ivanka Trump’s luxury Miami apartment block accepting crypto for condos

Luxury Miami apartment Arte Surfside will now accept cryptocurrency as a form of payment for its remaining luxury residences — including the Villa Nove penthouse, currently listed for $38 million.

The firm has partnered with trading platform SolidBlock, allowing potential buyers to pay in multiple cryptocurrencies, including Bitcoin and Ether.

The region’s “most . . . → Read More: Ivanka Trump’s luxury Miami apartment block accepting crypto for condos

Shanghai Man: VeChain on TV, DOGE flips BTC volume, Hotbit hack and more …

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Will DOGEmania ever stop?

Dogecoin has officially flipped Bitcoin in a few categories here in China, with DOGE trading volume . . . → Read More: Shanghai Man: VeChain on TV, DOGE flips BTC volume, Hotbit hack and more …

Altcoins rally as bulls pile into large-cap tokens and layer-1 projects

The cryptocurrency market provides investors with another day of ‘altseason’ as the majority of altcoins in the top 100 on CoinMarketCap rallied today.

Several large-cap tokens reached multi-year highs and this all took place as Bitcoin (BTC) price struggles to hold any of the news-event-driven gains that it has accrued throughout the week. 

. . . → Read More: Altcoins rally as bulls pile into large-cap tokens and layer-1 projects

They see ETH rollin’: Why did Ether price reach $3.5K, and what’s next?

The next few months promise to be exhilarating and decisive for Ether (ETH), as its recent all-time highs above $3,500 put an even bigger spotlight on the cryptocurrency and its smart contract blockchain, Ethereum.

As the cryptocurrency markets continue to grow five months into 2021, both the preeminent Bitcoin (BTC) and a host . . . → Read More: They see ETH rollin’: Why did Ether price reach $3.5K, and what’s next?

In crypto, sometimes the best thing you can do is nothing

There exists a meme in the crypto world that goes something like this: “Whenever I buy, the market dumps, and whenever I sell, the market pumps.” Like a cliche, the widespread status of a meme is a sign that it contains an element of truth, as anyone who has spent five minutes on . . . → Read More: In crypto, sometimes the best thing you can do is nothing

Coinbase crypto exchange to close San Francisco headquarters in 2022

Nasdaq-listed cryptocurrency exchange Coinbase is going completely remote and closing its head offices in San Francisco.

Coinbase announced Wednesday that it will shut down its former headquarters in the Golden Gate City in 2022 as part of its commitment to “being remote first.”

“We’ve committed to having no HQ, and it’s important to . . . → Read More: Coinbase crypto exchange to close San Francisco headquarters in 2022

Bitcoin Cash price jumps 68%: Looming hard fork to boost BCH user base?

Bitcoin Cash (BCH) burst back into the market capitalization top 10 rankings on Thursday after a 36% overnight surge compounded 68% growth for the week. The per coin valuation of BCH climbed from $1,068 to $1,462 in under 24 hours leading into Thursday, adding to a notable increase from its weekly low in . . . → Read More: Bitcoin Cash price jumps 68%: Looming hard fork to boost BCH user base?

Early Bitcoin bull market buyers are hodling strong, but short term trading increasing

Bitcoin buyers from the early phases of the bull run are still hodling despite BTC’s meteoric surge into new all-time highs, according to data shared by Glassnode.

The on-chain analytics provider shared its “Realized Cap HODL Waves” chart, noting that the number of coins that were last realized on-chain in the past six . . . → Read More: Early Bitcoin bull market buyers are hodling strong, but short term trading increasing

Signs the Bitcoin hashrate is starting to move away from China

Although the majority of Bitcoin mining is still based in China, there are signs it is beginning to shift elsewhere.

Chun Wang, the co-founder of one of Bitcoin’s largest mining pools, F2Pool, reported that China represented less than half of its hash rate during April 2020. Wung noted it was the first time . . . → Read More: Signs the Bitcoin hashrate is starting to move away from China

PayPal says its crypto efforts are producing ‘really great results’ on earnings call

During PayPal’s Quarter 1 2021 investor update call, president and CEO, Dan Schulman said digital assets had performed strongly for the company and that he believes crypto and central bank digital currencies will be a driving force in forging “a more equitable financial system.”

Following the success of PayPal’s move to embrace crypto . . . → Read More: PayPal says its crypto efforts are producing ‘really great results’ on earnings call

Telcoin (TEL) gains 300% after layer-2 migration to the Polygon network

The ability to send money to anyone, anywhere, at any time was one of the original motivations behind Bitcoin (BTC) that helped give rise to the expanding cryptocurrency ecosystem that exists today. 

Blockchain-based global remittance platforms are one sector of crypto projects that have evolved over time to help meet the needs of peer-to-peer . . . → Read More: Telcoin (TEL) gains 300% after layer-2 migration to the Polygon network

Finance Redefined: Grifter season in DeFi-land, and Uniswap v3 is here! April 28–May 5

Lots of cons, no artistry

It’s grifter season: Scams and opportunists run amok, and it’s harder than ever to tell who to trust.

Case and point: Over the weekend, an influencer by the pseudonym Crypto Spider was found to have pumped and dumped a meme coin, SELON — while publicly claiming that . . . → Read More: Finance Redefined: Grifter season in DeFi-land, and Uniswap v3 is here! April 28–May 5

Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins

Every cryptocurrency bull market has at least one surprise catalyst that comes out of nowhere to excite traders and spark massive trading volumes that lift the total market capitalization to new highs. 

The 2021 bull market is no exception to this rule, and one of the biggest catalysts for growth this year has been . . . → Read More: Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins

Price analysis 5/5: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, LTC, BCH, UNI

Dogecoin (DOGE) skyrocketed above $0.69 today and flipped XRP to become the fourth largest cryptocurrency with a market capitalization of over $88 billion at its highest point. 

Galaxy Digital recently released a report titled “Dogecoin: The Most Honest Sh*tcoin,” and the document highlighted the fact that no updates have been logged in Dogecoin’s GitHub repository since 2017. . . . → Read More: Price analysis 5/5: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, LTC, BCH, UNI

Is China softening on Bitcoin? A turn of phrase stirs the crypto world

They were only two seemingly innocuous words: “investment alternatives.” But when applied to Bitcoin — the seminal cryptocurrency — by an official from the People’s Bank of China in a recent panel discussion, they reverberated like a firecracker.

“A remarkable step for BTC,” Lennix Lai, director of financial markets at OKEx, calls the statement. . . . → Read More: Is China softening on Bitcoin? A turn of phrase stirs the crypto world

Only whales move DOGE: Data suggests major Dogecoin wealth gap

It was Doge day afternoon all over again on Wednesday as Dogecoin (DOGE) continued its assault on the cryptocurrency market capitalization rankings. The meme coin overtook XRP to become the fourth-largest cryptocurrency by implied market capitalization after climbing to a per-coin valuation of $0.69 — a target that was specifically set by traders on . . . → Read More: Only whales move DOGE: Data suggests major Dogecoin wealth gap

Three reasons why the ‘other Ethereum’ has pumped 130% in the last week

Ethereum Classic (ETC) continues to maintain its parabolic price action advance that began in late March.

Data from crypto market aggregator CoinGecko shows ETC is up almost 50% in the last 24-hour trading period as of the time of writing.

Indeed, the 20th-ranked crypto by market capitalization is currently at an all-time high above . . . → Read More: Three reasons why the ‘other Ethereum’ has pumped 130% in the last week

Investment app Betterment still not ready to offer crypto services, says CEO

Betterment, a major financial advisory company providing robo-advising and cash management services, has not yet decided whether it will introduce cryptocurrencies to its platform.

Betterment is still researching a potential expansion of its services to inclue digital assets like Bitcoin (BTC), CEO Sarah Levy said.

“We’re believers that if we can provide the . . . → Read More: Investment app Betterment still not ready to offer crypto services, says CEO

Jim Cramer still owns ‘a lot’ of Ether he first bought for an NFT auction

In the latest sign that crypto continues to filter through into the mainstream, CNBC host Jim Cramer has spent the week discussing the large quantity of Ether (ETH) he holds.

On CNBC’s Squawk Box on May 4, Cramer said he owns “a lot of Ether,” explaining that he first bought it when he . . . → Read More: Jim Cramer still owns ‘a lot’ of Ether he first bought for an NFT auction

Swedish crypto broker’s IPO oversubscribed by 1,200%

Safello, a Stockholm-based cryptocurrency brokerage, is seeing massive demand from investors for its upcoming initial public offering on the Nasdaq First North Growth Market.

The company said Wednesday that its planned IPO was oversubscribed by 502 million Swedish krona ($59.3 million), up 1,240% from the planned 40.5 million krona ($4.8 million), Reuters reports.

. . . → Read More: Swedish crypto broker’s IPO oversubscribed by 1,200%

Another 50% daily gain for Dogecoin confirms ‘alt season’ as Bitcoin slumps

The cryptocurrency market awoke to the sight of Dogecoin (DOGE) price surging to as high as $0.69 in the past two days, leading many to wonder if the recent performance of the world’s most popular meme token is now the leading indicator for the arrival of alt season. 

Long-time crypto fans mark the fourth . . . → Read More: Another 50% daily gain for Dogecoin confirms ‘alt season’ as Bitcoin slumps

‘DeFi may lead to a paradigm shift’ says Federal Reserve Bank paper

A paper published by the Federal Reserve Bank of St Louis has delved into the expansion of decentralized finance and Ethereum’s role in it.

The research, penned by Dr. Fabian Schär and published on May 2, has taken a deep dive into the world of DeFi, hinting that if security concerns and risks . . . → Read More: ‘DeFi may lead to a paradigm shift’ says Federal Reserve Bank paper

Axie Infinity (AXS) rallies 80% following migration to Ronin sidechain

Nonfungible tokens were one of the hottest sectors of the cryptocurrency market from the start of the year until March but as is the nature of the crypto sector, NFTs cooled off significantly in April as the hype died down and high fees on the Ethereum (ETH) network hampered the ability of buyers and . . . → Read More: Axie Infinity (AXS) rallies 80% following migration to Ronin sidechain

Institutional managers hold a record $13.9B worth of Ethereum

Institutional investment managers bought $30.2 million worth of Ethereum (ETH) last week, bringing their total holdings to a record $13.9 billion, according to CoinShares.

Inflows into Ethereum products appears to be ramping up as investors devote greater attention and resources to the smart-contract platform. Month-to-date inflows for ETH products totaled $170 million, bringing . . . → Read More: Institutional managers hold a record $13.9B worth of Ethereum

Auction giant Sotheby’s to accept BTC and ETH as payment via Coinbase

Sotheby’s, one of the world’s oldest and biggest auction houses, has announced that it will be accepting major cryptocurrencies as a new payment method at an upcoming auction.

Sotheby’s CEO Charles Stewart said that the company will debut Bitcoin (BTC) and Ether (ETH) payments as part of its upcoming auction of Banksy’s “Love . . . → Read More: Auction giant Sotheby’s to accept BTC and ETH as payment via Coinbase

J. R. Willett launched the first ICO… but still has a day job

ICOs? He held the first one. Stablecoins? He dreamed of them by accident. Vitalik Buterin tried to get him on board to help launch Ethereum, but he was too busy. He is J. R. Willett, one of the most fascinating men in the industry.

Back in 2012, Willett, now 41, felt he could . . . → Read More: J. R. Willett launched the first ICO… but still has a day job

3 reasons why Bitcoin is on shaky ground after failing to retake $60K

Bitcoin (BTC) is back testing lower levels after failing to conquer $60,000 resistance — and indicators suggest the downturn is not over.

BTC/USD bounced off $55,000 overnight on Monday, hours after hitting local highs of nearly $59,000 in bullish early trading.

With sellers still in place closer to all-time highs of $64,500, the largest . . . → Read More: 3 reasons why Bitcoin is on shaky ground after failing to retake $60K

Crypto donors to star-studded benefit raise $440K for autism awareness

On April 30, a virtual benefit co-hosted by American TV star Jimmy Kimmel and NASA engineer-turned-YouTuber Mark Rober raised over $3 million in donations to support NEXT for AUTISM, a charity dedicated to addressing the needs of people with autism and their families across the United States. 

The interactive livestream featured a wide . . . → Read More: Crypto donors to star-studded benefit raise $440K for autism awareness

Digital euro’s privacy promise not worth a centralized system, Oasis exec says

When European Central Bank board member Fabio Panetta addressed the European Union Committee on Economic and Monetary Affairs in April, he emphasized the importance of privacy in any potential future CBDC rollout.

The ECB had conducted a public consultation on the possibility of a digital euro, canvassing the opinions of over 8,000 . . . → Read More: Digital euro’s privacy promise not worth a centralized system, Oasis exec says

S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether

S&P Dow Jones Indices, a major global resource for index-based data and research, has introduced its first cryptocurrency indices amid a renewed surge on crypto markets.

The company announced Monday that it launched three crypto indices tied to the performance of the two largest cryptocurrencies: Bitcoin (BTC) and Ether (ETH).

The newly introduced indices include . . . → Read More: S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether

Glassnode predicts BTC rally as stablecoin supply tags record highs

The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin and crypto markets.

The combined capitalization of Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) has surged almost 190% from $27 billion to almost $78 billion since . . . → Read More: Glassnode predicts BTC rally as stablecoin supply tags record highs

Range-bound Bitcoin price opens the door for altcoins to move higher

Ether (ETH) took charge as a new month begins and the second-largest cryptocurrency by market capitalization rallied to a new all-time high at $3,338. This has many analysts shouting out that a new ‘altcoin season’ has commenced. Meanwhile, Bitcoin  (BTC) price is continuing to meet resistance around the $56,000 to $58,000 level. 

Data from Cointelegraph Markets . . . → Read More: Range-bound Bitcoin price opens the door for altcoins to move higher

DeFi resurgence lifts Maker, Aave and Compound price to new highs

Analyzing the activity on lending platforms can sometimes be used as a barometer for measuring the sentiment of the cryptocurrency market as a higher number of collateral-backed loans may signal that traders are eager to trade a rising market. 

The month of April saw the total value locked on Maker (MKR), Aave (AAVE) and . . . → Read More: DeFi resurgence lifts Maker, Aave and Compound price to new highs

Price analysis 5/3: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, UNI, LTC, BCH

Ether (ETH) has been the star performer among major cryptocurrencies in the past few days as its rally has continued unabated. The second-largest cryptocurrency by market capitalization crossed the $3,300 today sending projects market cap to $381.6 billion. 

Ether has now become the 24th largest asset in the world, vaulting the project above blue-chip names . . . → Read More: Price analysis 5/3: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, UNI, LTC, BCH

Ethereum bulls control 100% of this week’s $470M ETH options expiry

On May 7, a total of $470 million in Ether (ETH) options are set to expire, and “slaughter” is really the only word that describes what is about to happen to bearish ETH traders.

Currently, almost every single one of the 75,909 put (sell) option contracts will become worthless if Ether manages to remain . . . → Read More: Ethereum bulls control 100% of this week’s $470M ETH options expiry