Day: May 27, 2021

Market enters a ‘wait-and-see phase’ as Bitcoin struggles below $40,000

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Price action for Bitcoin (BTC) and the wider cryptocurrency market was relatively subdued on May 27 as nervous traders remain unsure of what comes next following last week’s market plunge that saw leveraged traders wiped out as BTC dipped as low as $30,000 before its price rebounded.  Data from Cointelegraph Markets Pro and TradingView shows that while Bitcoin’s price has managed to put in higher highs and higher lows over the past week, bulls continue to face stiff resistance at any meaningful attempt to break above $40,000 as bears defend…

Parachute journalism on the frontlines of DeFi! May 19-26

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As a kid who grew up in a podunk-nothing, mid-sized American city, I know what it’s like to read parachute journalism covering topics and stories close to my heart. Some bad news for my fellow DeFi brethren: you’re all about to get a taste of that feeling, too.  A colloquialism for when reporters tackle material outside their normal scope (picture a correspondent ‘parachuting’ into a war zone, clipping up a short segment, and beaming back to more hospitable climes), parachute journalism often leads to uninformed, sensationalist, and/or propagandistic coverage lacking…

SEC Is Reviewing Bitcoin ETFs from Fidelity, Skybridge

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may…

VCs back Balancer with $24.25M investment

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The capital raise was led by Blockchain Capital, Fintech Collective, LongHash Ventures, Fenbushi Capital, Continue Capital and Kain Warwick, the founder of DeFi protocol Synthetix. The funds will be used to strengthen Balancer’s role as a core infrastructure provider of the DeFi market. “By allowing for the most flexible and composable liquidity pools in the AMM space, the Balancer Protocol is uniquely positioned as a core infrastructure component for decentralized finance protocols and applications,” said Aleks Larsen, an investor with Blockchain Capital. He added: “We see this aspect of the…

Monthly $1.9B Ethereum futures and options expiry will determine if ETH hits $3K soon

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The May 28 futures and options expiry could be a turning point for Ether (ETH), as the cryptocurrency rebounded 60% from its $1,730 low on May 23. Even though the open interest stands at $6.2 billion, only 16% is set to expire on Friday, as most of the action takes place on perpetual and June contracts. One must account for the options expiry, as it could present an imbalance of forces. This feature is not true for futures markets, where longs (buyers) and shorts (sellers) are matched at all times.…

ICHI launches ‘Decentralized Monetary Authority’ for stablecoin issuance

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Stablecoin issuing platform ICHI has launched a Decentralized Monetary Authority, or DMA, that enables cryptocurrency networks to more easily mint their own stablecoins securely.  By utilizing ICHI’s DMA, cryptocurrency communities can create and govern their own fully-collateralized stablecoins and set their value at exactly $1. ICHI’s developers say their platform solves the myriad of challenges associated with existing stablecoins, including the need to sell other cryptocurrencies to mint more tokens. This problem is akin to selling a stock, which simultaneously decreases the value of that stock. ICHI’s platform seeks to…

SEC begins formal review of Fidelity, SkyBridge Bitcoin ETF applications

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A pair of Bitcoin (BTC) ETF applications submitted by Fidelity Investments and SkyBridge Capital are under official review by the United States Securities and Exchange Commission, or SEC, reigniting a long-standing debate about whether regulators will finally approve America’s first crypto-focused ETF. The SEC’s formal review of Fidelity Investments’ application was documented in a May 25 filing that appeared on the regulator’s website. The formal review of the SkyBridge application was outlined in a May 21 filing. Both ETF applications were submitted in March. As Cointelegraph reported at the time,…

Ren Launches Polygon Bridge with Support for Bitcoin

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Share this article Ren has integrated Polygon.  Ren Unveils Polygon Bridge Ren has launched a bridge to Polygon.  The project announced the expansion Thursday, noting that Polygon is home to “a burgeoning DeFi ecosystem with obvious benefits for users.” Polygon, which acts as an Ethereum commit-chain, offers a similar experience to DeFi on Ethereum at a fraction of the cost. It’s integrated several Ethereum staples including Aave, Curve, and SushiSwap, and in recent weeks has become a hit with yield farmers looking to deploy their capital.  Ren, also known as…

3 ways traders use moving averages to read market momentum

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The first step to successful trading is the identification of medium and the short-term trends. Traders who remain on the right side of the trend and use risk management principles usually end up earning profits. An equally important activity in the trading process is calculating the entry. Many times, traders are afraid to pull the trigger in the optimal moment and miss a large part of the rally. As they see the markets move higher from the sidelines, the urge to buy keeps increasing and many times, they end up…

Pumped up by volume? 5 crypto assets that traders loved this month (and their prices)

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Trading volume — the amount of an asset that changed hands over a given period — is one of the key metrics that investors use to track price trends and assess the market outlook for a specific coin in terms of liquidity and trader activity. The ranking below zooms in on the fortunes of five coins that have had the greatest increase in average daily trade volume this month compared to the month before. Most of them — although not all — emerged as massive winners in terms of their…