Bitcoin has extremely strong price action over recent days. At the highs of the rally on Monday, the leading cryptocurrency traded as high as $11,500 on leading margin exchanges.

There remain signs that BTC could undergo a strong retracement after surging as high as $11,500. This comes in spite of the fact that BTC is already down by approximately $700 from the local highs as of this article’s writing.

The following are three signs that BTC could retrace as shared by analysts.
Read More: https://www.newsbtc.com/2020/07/28/3-signs-bitcoin-drop-explosion-11k/

As bitcoin retraces slightly after reaching a new 2020 high about $11,000, NLW explores what’s driving the BTC rally and how likely it is to continue.

Bitcoin crashed through $10,000 and got all the way up to a new yearly high of about $11,000 before retracing slightly.
Read More: https://www.coindesk.com/how-real-is-bitcoins-rally-8-interpretations-of-bitcoins-massive-surge

Ethereum usage is rocketing as the number of contract calls – a metric for network activity – hits an all-time high.

Coin Metrics reported Tuesday more than 3.1 million daily contract calls had gone through on July 25, an all-time high.
A contract call is where a user requests a specific function from a smart contract that, unlike a transaction, doesn't publish anything on the blockchain – sort of like a dry run.
Read More: https://www.coindesk.com/soaring-defi-usage-drives-ethereum-contract-calls-to-new-record

Digital payment platforms add more cryptocurrency features for U.S. customers, but will big banks take the lead?
The cryptocurrency market has come a long way in a seemingly short amount of time. Digital payment platforms have particularly taken note of the crypto market’s impressive growth, which is evident, as many have adopted new features and support for more cryptocurrencies.
Read More: https://cointelegraph.com/news/open-the-floodgates-us-customers-to-see-more-crypto-accessibility

Profitability mimics the height of last year’s bull run, but the circumstances have changed beyond recognition in 2020.
The vast majority of the Bitcoin (BTC) supply is now in profit after its price bull run to $11,400, data shows.

Tracked by on-chain monitoring resource Glassnode, as of July 27, almost 95% of the Bitcoin supply is now worth more than when it last moved.
Read More: https://cointelegraph.com/news/almost-95-of-bitcoin-supply-flips-profitable-as-btc-price-hits-114k

A South Korean county with a population of mostly elderly residents has seen a strong rise in stablecoin adoption.
South Korea’s Buyeo County, located in the rural province of South Chungcheong, has been witnessing strong interest in a local blockchain-powered stablecoin since its creation in early 2019.

According to a report published by Donga, most of the county’s population is made up of elderly residents. Census data indicates that around 75,000 people live there in total. In 2019, the county created a local token named “Goodtrae Pay” at a cost of over $267,000.
Read More: https://cointelegraph.com/news/stablecoin-adoption-skyrockets-in-rural-south-korean-province

Russia’s central bank argues that crypto purchases are not considered an investment.
Despite Russia recently passing its first major legislation devoted to cryptocurrencies, the country’s central bank continues to treat the industry as a criminal area.

Sergei Shvetsov, the first deputy governor at the Bank of Russia, has voiced the bank’s negative stance towards crypto investment. He compared cryptocurrency with financial pyramid schemes and roulette games. The official provided his remarks on the crypto industry during a July 28 live YouTube stream regarding Russia’s new bill on categories of retail investors.
Read More: https://cointelegraph.com/news/russias-central-bank-keeps-insisting-that-crypto-is-criminal