Just an hour ago, Bitcoin’s weekly candle closed after an eventual week in which the leading cryptocurrency surged from lows near $10,000 to a local high at $11,150. The coin now trades at $10,950 as of this article’s writing, slightly above the ~$10,850 weekly close. The cryptocurrency, while above the pivotal $10,000 technical and psychological
The total crypto market capitalization has recovered from the Sep. 6 lows near $314 billion but it is struggling to sustain above the $350 billion mark, which shows that higher levels continue to attract sellers. Bitcoin’s (BTC) dominance fell from above 68% in mid-May to about 56% in the first half of this month as
MicroStrategy’s decision to use Bitcoin as its primary reserve currency has Michael Saylor seemingly favoring the asset over altcoins. In a Sept. 20 tweet, the business intelligence company’s CEO stated that he considers Bitcoin (BTC) to be a crypto asset network, unlike tokens like Ethereum (ETH) or stablecoins, which he referred to as “crypto-application networks.”
Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers! Top Stories This Week Frenzy as Uniswap launches new governance token Uniswap stole the show this week when it announced it was launching UNI, its very own governance token. A total of 1 billion tokens
Nasdaq-listed company Microstrategy recently bought almost 17K bitcoins within 74 hours, costing about $175 million. The CEO of this billion-dollar company used to be a bitcoin skeptic but has recently become a bitcoin bull when his company purchased $425 million worth of bitcoin. Billion Dollar Public Company Dives Into Bitcoin Microstrategy recently made history in
The Gibraltar Financial Services Commission (GFSC) has updated its regulations governing the operation of distributed ledger technology (DLT) providers to include the latest Financial Action Task Force (FATF) rules. The GFSC said this is in response to blockchain’s fast-moving nature, especially as the agency seeks to support companies while protecting consumers. The updated guidance notes
We aren’t taught real economics in school. We learn, instead, voodoo economics. For example, rarely — if ever — do professors present us with the valuable insights highlighted by the Austrian school of economics. Individuals, therefore, need to break their conditioning to understand how the financial world works. The truth of how the financial system
Bitcoin is showing positive signs above the $10,800 support against the US Dollar. BTC broke the $11,000 level and it is currently correcting lower towards key supports. Bitcoin gained pace and traded to a new weekly high at $11,176. The price is currently correcting below $11,000, but it is well above the 100 simple moving
The decentralized finance, or DeFi, sector of the crypto industry has been bursting with exuberance, innovation, and speculation in recent months. The niche is still very much in its infancy, however, according to Richard Byworth, CEO of digital finance company Diginex. “I do believe that DeFi is the future potentially down the road,” Byworth said in an
While other countries may be placing central bank digital currencies — also known as CBDCs — at the top of their agenda, Australia could buck the trend. According to a local news report on Sept. 17, the Reserve Bank of Australia’s latest payments paper has taken a cautious and sceptical line toward CBDCs as well
The open interest on Bitcoin (BTC) options is just 5% short of their all-time high, but nearly half of this amount will be terminated in the upcoming September expiry. Although the current $1.9 billion worth of options signal that the market is healthy, it’s still unusual to see such heavy concentration on short-term options. By
Yearn Finance founder Andre Cronje puts himself up as a delegate for Uniswap hoping to influence the governance of the protocol. In a tweet, Cronje said he “will build tooling to facilitate delegation, off-chain voting, and on-chain enforcement” if made a delegate. He added: “At this point, I do not think it should be a
A study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent holder in 2020 capturing 10x the number of patents held by IBM. The report notes that blockchain patents “are skyrocketing” this year and so far in 2020, there’s been more distributed ledger technology and cryptocurrency patents published than all
Abkhazia, a de facto state in the South Caucasus, continues to face an energy crisis. The head of the region’s national energy provider recently blamed increased crypto mining activity for the problems. According to Jam News, the government’s year-old ban on crypto mining has not been respected nor enforced by the local authorities, with miners
Beowulf Blockchain, a decentralized cloud network for communication services, has announced the listing of its coin, BWF, on the Bittrex exchange. Headquartered in Silicon Valley, the company stated that its coin would be available on Bittrex starting Sept. 24. According to Beowulf, listing its coin on the Bittrex exchange would help it decentralize ownership of
So Bitcoin appears to end this week within tickling distance of $11,000. Experts suggest that the next test of upper level support will be at $11,100 before a move to $12,100. Statistician Willy Woo is optimistic. He thinks there’s little chance of a “catastrophic” dump. Some Bitcoin though, can’t be dumped. More than a billion