Day: May 15, 2021

DeFi growth helps push crypto’s share of the global money supply above 2%

admin

This year decentralized finance (DeFi) has proven to be a transformative sector for the cryptocurrency ecosystem and it is also making waves in among global financial markets as institutional investors become entranced with the potential to earn high yields on stablecoins, altcoins and Bitcoin.  While the price action from Dogecoin (DOGE) has dominated the headlines in recent weeks, Delphi Digital has been chronicling the growth of the DeFi ecosystem on the Ethereum (ETH) network which has steadily been gaining strength over the past month. Ethereum DeFi performance year-to-date. Source: Delphi…

Bitcoiners crowdfunding anti-FUD documentary film

admin

As the headlines pile up about Bitcoin’s calamitous environmental impact, one group of investors and supporters have stepped up to the plate to defend the world’s largest digital asset with the help of a crowdfunded, FUD-fighting documentary film.  First announced by investor, podcast host, and Bitcoin fanatic Brad Mills on Twitter, the goal of the film is to act as a “definitive” argument for “why Bitcoin will transition the world to renewable energy faster than governments.” I found the filmmaker (@jamie_jk) to make the definitive short film on why Bitcoin…

Data shows the ‘Bitcoin price drops ahead of CME expiries’ claim is a myth

admin

Historically, activity surrounding the Bitcoin (BTC) monthly futures and options expiry has been blamed for weakening bullish momentum. A few studies from 2019 found a 2.3% average drop in BTC price 40 hours before the CME futures settlement date.  However, as Cointelegraph reported in June 2020, the effect faded away. While 2020 seems to have rejected the potential negative impact of CME expiries, so far, the current year appears to validate the theory. Bitcoin’s price has been suppressed ahead of futures and options expiry in the first three months of…

Bitcoin still on track to $100K despite growing risks, says strategic investor Lyn Alden

admin

Strategic investor Lyn Alden is convinced Bitcoin has still the potential to reach $100K in the current bull cycle — despite growing uncertainty and increasing volatility.  “We are seeing a lot of froth throughout the industry”, she said, referring to the latest rally in a number of meme coins such as Doge. “Those are kind of warning signs for the cycle”, she added. Alden said that with the bull run slowing down and growing risks of a correction, it makes sense for some investors to take some money off the…

Crypto prices increasingly reflect “real demand”

admin

In a Twitter thread today, billionaire investor Mark Cuban weighed in on the current state and the future of blockchain technology and investment, ultimately concluding that while there are real obstacles to adoption asset prices are increasingly reflective of real “utility” and “demand,” and that the day will eventually come when crypto is “mature to the point we wondered how we ever lived with out.” Cuban posted the 10-Tweet thread this morning, noting that as the asset class matures prices for cryptocurrencies often are now a byproduct of current use,…

Dammit, Musk, now you’re messing with AAVE too?

admin

Who knew what, and when did they know it? Investigating Watergate in 1973, Senator Howard Baker Jr. wanted the answer. Thanks to a couple of journalists, he eventually got it. And while the stakes may not be as high, the team at Cointelegraph Markets Pro is pretty curious about some interesting crypto data this week. The VORTECS™ Score includes sentiment analysis, tweet and trading volume, and price action as components of the algorithm — which are then weighted according to a proprietary formula based on how similar these are to…

Cardano smashes $2 resistance as bullish signals enter for Bitcoin price

admin

Cardano’s ADA token neared $2.40 on May 15 as a select few altcoins bucked the bearish mood to steal the spotlight from a weak Bitcoin (BTC). ADA/USD 1-hour candle chart (Binance). Source: Tradingview ADA in price discovery as $2.50 nears Data from Cointelegraph Markets Pro and TradingView showed ADA/USD climbing through the weekend to hit a record $2.38. Traders had suspected that the long-awaited $2 would come into play in the short term, with Cardano bulls taking down resistance in one fell swoop overnight on Friday. With $2 out of the…

Blockchain will thrive once innovators and regulators work together

admin

There is often a perceived tension between regulation and innovation. A pervasive narrative has emerged that these two important parts of our society are at odds with each other. In reality, it’s when these two come together as partners that we can effect change and transform our world for the better. Nowhere is this more true than in the blockchain industry. Over the last few months, we’ve seen seemingly reactionary regulators in different parts of the world try to formulate new rules and guidance in silos, without sufficient input from…

NANO price spike gives traders a chance to bet against the rally

admin

When Elon Musk’s ‘Bitcoin is bad for the environment’ tweet caused a flash crash of BTC and the majority of altcoins’ prices earlier this week, a handful of digital assets headed in the opposite direction, making huge gains amid the sea of red.  Those were the tokens that market themselves as environmentally friendly capitalizing on investors’ immediate instinct that Tesla might be switching to some alternative, eco-friendly cryptocurrency soon. NANO’s moment of unsustainability Among the biggest winners of the day was NANO, a decentralized cryptocurrency that relies on a consensus…

Enterprise DeFi finances personal protective equipment

admin

Supply chain management has historically been challenging due to issues, such as increased costs, consumer demands, financial risk, volatility and much more. Unfortunately, the COVID-19 pandemic has created even bigger issues for supply chains globally.  A recent survey conducted by Big Four firm Ernst & Young in late 2020 puts this in perspective, noting that 97% of automotive and industrial product companies found the pandemic to have negative effects on their businesses. The EY study further found that 64% of surveyors believed that the digital transformation of global supply chains…