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Crypto Exchanges / SHIB volume on Bitrue up 1,000%, exchange to launch futures trading

« on: October 30, 2021, 09:19:06 AM »

Shiba Inu (SHIB/USD), Dogecoin (DOGE/USD), and a wide variety of other memecoins have experienced significant growth in the last 72 hours. At the Bitrue exchange, their volumes have increased by up to 10x. Bitrue will be launching SHIB futures trading on the back of this interest.

Price of SHIB triples over past week
Within the last week, the price of Shiba Inu tripled and trading volume increased by 1,000%. This tendency has reflected on most of the other meme coins on the market, including Dogecoin, Samoyedcoin, Australian Safe Shepherd, and Shih Tzu. Traders are racing to find the next big coin that will attract huge attention from the media and influencers and yield mass profit for market players.

Catcoins follow suit
Alternative memecoins have felt the madness too. The price of catcoin CATO quadrupled over the last 24 hours.

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Crypto currency Mining / Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest

« on: October 30, 2021, 09:16:57 AM »

Crypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next five years.

Kazakhstan Makes Millions From Cryptocurrency Miners
Kazakhstan’s growing coin minting industry has the potential to pour $1.5 billion into the nation’s economy in a five-year period, resulting in over $300 million in tax revenue, according to the National Association of Blockchain and Data Center Industry which unites major companies involved in cryptocurrency extraction that account for 70% of the mining sector. Budget revenues can reach $400 million with the opening of cryptocurrency exchanges, the organization added.

According to the association’s president, Alan Dordzhiev, even now legal participants in the mining market bring Kazakhstan 98 billion tenge (close to $230 million) annually. Quoted by the local business news portal Inbusiness.kz and the crypto news outlet Forklog, Dordzhiev also noted:

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DeFi tokens / DeFi protocol Aave encounters major capital flight

« on: October 30, 2021, 09:15:00 AM »

Annual percentage yields, or APY, on crypto borrowing and lending platform Aave have surged to record levels after capital withdrawals sent the decentralized finance, or DeFi, protocol into a liquidity crunch. At the time of writing, variable APY on borrowing stablecoin Dai via Aave has surged to 24.88%, compared to approximately 6.50% the day prior.

According to cryptocurrency researcher Igor Igamberdiev, blockchain personality Justin Sun was responsible for at least billions of dollars in withdrawals in the past few hours. Aave's total value locked, or TVL, fell to $14.7 billion from $17.89 billion the day prior, based on data from DeFi Pulse.

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Ethereum News & Updates / Ethereum’s new all-time high prepares ETH for 'continuation to $5,000'

« on: October 30, 2021, 09:13:04 AM »

The cryptocurrency market is in high spirits on Oct. 29 after bulls managed to lift the price of Bitcoin (BTC) back near the $63,000 support zone and Ether (ETH) has established a new all-time high at $4,460.

ETH/USDT 4-hour chart. Source: TradingView
Here's what anlaysts are saying about the market now that Bitcoin is finding support above the $60,000 level and Ether looks to enter price discovery.

Bulls think BTC could hit $90,000
The bullish moves seen in BTC and Ether caused a moment of reflection for independent market analyst Crypto_Ed_NL, who tweeted that it “seems I was not bullish enough at $40,000” when a target of $73,000 was given.

BTC/USD 1-day chart. Source: Twitter
After taking the recent moves into account, the analyst indicated that the “target moved up to $90,000 and after a correction, we should see $100,000.”

Regarding exactly how this scenario would affect the price of Ether, Crypto_Ed_NL posted a follow-up tweet which outlined how the price action might play out and he gave a price target above $6,000.

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Bitcoin News & Updates / Bitcoin And Biases — Bitcoin As ESG Money

« on: October 30, 2021, 09:10:48 AM »

Previous articles discussed the cognitive biases that affect bitcoin and biases around price and around group norms and groups’ authorities.

There are also many cognitive biases that affect the conception of bitcoin and the term Environmental, Social, and Corporate Governance (ESG), which is an evaluation of a firm’s collective conscientiousness for social and environmental factors.

The term ESG is widely used across the financial arena to meet client and institutional demands for responsible investment. ESG appeals to our desire as human beings to have purpose and to use our resources to do good in the world.

Awareness and understanding of some of the cognitive biases around bitcoin and ESG can pave the way for awareness and better understanding of the actual facts regarding bitcoin and its ESG values.

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NFTs & Collectibles / Frenzy for Ethereum NFTs sees sales rise 400% since June

« on: October 28, 2021, 08:01:03 AM »

With each passing day, the Non Fungible Token (NFT) sector is becoming a record-making niche of the crypto world where new ceilings are being shattered with almost every transaction.

NFT sales rise by over 400% in 3 months
Available information from the last three months has shown that the space has seen its sales rise by over 400% with one NFT marketplace in line to score $10 billion in sales of the tokens.

According to data from nonfungible.com’s historical market, NFT tokens sold between July 27 till date have been over 1 million and they were collectively sold for over $2.1 billion at an average price of $1,823 each.

Another data from DappRadar.com has shown that the top 5 preferred marketplaces for NFT traders include Opensea, Axie Infinity, Cryptopunks, Mochi Marketplace, and NBA Top Shot

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Binance / New Assets Added to Flexible Savings on Binance (2021-10-27)

« on: October 28, 2021, 07:59:03 AM »

Fellow Binancians,
Binance has added CELR, DYDX, FLOW, NEAR, PIVX, POLY, SHIB and STPT to the list of supported assets on Flexible Savings, a value-added service to Binance users who hold idle digital assets.
Subscribe now
Note：
Subscriptions will close on a certain product once the maximum limit is reached.
Binance Savings will make adjustments to the types of supported assets, interest rates, individual limits and total subscription limits based on market conditions and our internal risk management.
Please refer to Binance Terms of Use prior to using any products on the Binance Savings platform.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.

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Coinbase / Coinbase Crashes as Shiba Inu Goes Ballistic After Surpassing Dogecoin

« on: October 28, 2021, 07:57:03 AM »

Coinbase, the largest crypto exchange in the U.S. is currently down.

Coinbase
The website has been offline for over 15 minutes.

Some speculate that the severe outage is linked to unprecedented traffic caused by the Shiba Inu frenzy.

SHIB broke Coinbase

— zerohedge (@zerohedge) October 27, 2021
The meme coin's trading volume has surpassed $5 billion on Coinbase alone, dwarfing Bitcoin's and Ether's numbers.

After surpassing the market cap of archrival Dogecoin on both CoinGecko and CoinMarketCap, Shiba Inu soared even higher, reaching yet another all-time high of $0.00008519.

SHIB is currently the 9th biggest cryptocurrency.

Source

Crypto Exchanges / Robinhood’s Crypto Activity Drops 78%, Stock Tanks Below IPO

« on: October 28, 2021, 07:55:07 AM »

Robinhood had a net loss of $1.32 billion this past quarter, recording a plunge of 78% in revenue from crypto transactions from 2Q. Their shares dropped 12% to $34.80 at 9:46 a.m. in New York, $38 below the IPO price in late July, Bloomberg reported.

Analysts had estimated Robinhood Markets Inc. would have a total revenue of $423.9 million during an earlier Bloomberg survey, but the numbers fell short hitting only $364.9 million.

Vlad Tenev, Robinhood’s Chief Executive Officer, had predicted that the trading activity would tumble in the third quarter of 2021 and fewer accounts would open. As he stated during the Q3 Earnings Call, the tumbling numbers do not worry them since they have different short-term goals.

The fourth quarter might be falling short as their anticipation for Q4 is that “total revenue will be less than $325 million and full-year revenue will be less than $1.8 billion. At the top end, this implies full-year revenue growth of 85 percent.”, said Jason Warnick, Chief Financial Officer.

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Crypto currency Mining / River Financial Announces White-Glove Mining Service

« on: October 28, 2021, 07:53:03 AM »

Bitcoin-only technology and financial services company River Financial announced today the launch of its mining white-glove service, River Mining, in a release shared with Bitcoin Magazine. The service seeks to reduce the barriers for new entrants into the bitcoin mining industry, allowing any U.S. customer to start mining BTC themselves.

“Our clients are looking to put their money to work, and River Mining will enable them to earn their own Bitcoin,” said Alex Leishman, River’s CEO. “This is a key step in our mission to accelerate the adoption of Bitcoin, the future of money.”

In the Bitcoin early days, it was possible to mine using a regular laptop. People would let their computers run as a full mining node and reap some inexpensive BTC from time to time. However, since the inception of the first ASIC mining machine in 2012, that reality began to change. Chips got more specialized by the year, and the mining industry became overly competitive, leaving retail bitcoin miners out of the picture. But River wants to change that.

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DeFi tokens / Curve Finance Rallies; Will DeFi Follow?

« on: October 28, 2021, 07:50:38 AM »

Curve Finance (CRV) is a decentralized liquidity pool built on top of Ethereum, similar to Uniswap (UNI), but with a focus on the exchange of stablecoins. The main goals of Curve Finance are to facilitate extremely efficient trading, with low slippage and to provide a relatively low-risk and supplemental fee income for liquidity providers (LPs) without the risk of so-called impermanent loss — the opportunity cost of being an LP in volatile digital assets.

Despite the broader market sell off that occurred today, Curve has seen its TVL continue to expand as investors may be flocking to safety in stablecoins. The CRV governance token also trades at one of the lowest multiples when looking at the ratio of market capitalization-to-TVL, which currently sits at .09279.

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Ethereum News & Updates / After reaching new all-time highs it's customary for Bitcoin (BTC) price see a b

« on: October 28, 2021, 07:48:05 AM »

The almost exactly one year old Ethereum 2.0 Proof of Stake (PoS) Beacon chain has upgraded for the first time ever.

“Altair has activated successfully!” – said Preston Van Loon, a developer on the ethereum 2.0 client Prysm

“Finality was uninterrupted and participation dropped as low as 93.3% in the first Altair epoch (exact number to be confirmed). Participation is now above 95%,” he added.

The Altair upgrade “gives engineering teams something concrete to dig into,” the Ethereum Foundation said back in March before adding:

“Altair is an upgrade to the beacon chain that brings light client support, minor patches to incentives, per-validator inactivity leak accounting, an increase in slashing severity, and cleanups to validator rewards accounting for simplified state management.”

“All is looking good on our nodes,” Paul Hauner of Lighthouse said. However, “we think about 6% of validators haven’t updated… Someone is producing non-Altair blocks. That’s expected and totally fine. We can tolerate that and I assume they’ll figure it out.”

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Bitcoin News & Updates / Here’s why analysts say Bitcoin ETFs may ‘completely change the structure of the

« on: October 28, 2021, 07:35:26 AM »

After reaching new all-time highs it's customary for Bitcoin (BTC) price see a bit of cooling off in the form of profit taking, consolidation and uncertainty from traders who are cautious about opening new positions at record highs. This appears to be exactly what is occuring this week as Bitcoin price struggles to hold the $60,000 level as support.

BTC/USDT 4-hour chart. Source: TradingView
Generally, most analysts still retain a bullish macro view of Bitcoin's price trajectory, to the extent that PlanB, Willy Woo and others claim that the second-half of the bull market was certified by the price hitting $67,000 last week.

Here’s what analysts have to say about what may come next for the price of Bitcoin, along with some insights into the greater market dynamics that are currently at play.

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NFTs & Collectibles / The Wolf of Wall Street Joined the NFT Craze, Vowed Never to Leave it

« on: October 26, 2021, 06:58:13 AM »

The cryptocurrency space has seen numerous prominent individuals who went from criticizing it to joining it years later. Jordan Belfort, who used to bash bitcoin but later predicted it will tap $100,000, is now a keen supporter of the non-fungible token industry.

NFTs have garnered the attention of numerous celebrities outside of the cryptocurrency space in the past year.
Individuals like Tom Brady, Steph Curry, Eminem, and Paris Hilton, to giant organizations like Marvel Studios, DC, New York Knicks, and more, have all hopped on the bandwagon in some form.
The latest to dip his toes is the so-called Wolf of Wall Street, Jordan Belfort. He expressed his astonishment at the space in a recent tweet and vowed never to leave it.
WOW! I LOVE NFT TWITTER! AND NOW THAT I’M HERE, I’M NOT FUCKING LEAVING!
gn

— Jordan Belfort (@wolfofwallst) October 25, 2021

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DeFi tokens / Terra's Do Kwon Talks SEC Subpoena: DeFi 'May Not Fit In Nicely' With Current Re

« on: October 26, 2021, 06:56:03 AM »

Three days after suing the U.S. Securities and Exchange Commission over receiving a subpoena from the agency, Terraform Labs co-founder and CEO Do Kwon struck a more conciliatory tone about the regulatory landscape.

Speaking at the Yahoo Finance All Markets Summit today, Kwon suggested that friction between regulators and the crypto industry typically leads to "frameworks that are a little bit more accepting of innovation and change."

On Friday evening, Kwon and Terraform Labs filed a complaint against the SEC in the U.S. District Court for the Southern District of New York claiming that the agency's issuance of two subpoenas violated the 14th amendment's due process clause as well as SEC rules and federal regulations. The lawsuit further contends that the agency "could not secure personal jurisdiction over" Singapore-based Terraform Labs or Kwon, but that Kwon and attorneys attended a 5-hour interview in July.

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