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Topics - MRM

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751

Bitcoin News & Updates / Bitcoin Price Slides by $1.4K in Minutes

« on: August 02, 2020, 03:38:43 PM »

Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market.

The biggest cryptocurrency by market value fell from $11,969 to $10,659 in 10 minutes to 04:45 UTC, having reached an 11-month high of $12,118 at 04:00 UTC, according to CoinDesk’s Bitcoin Price Index.
The sudden price drop has liquidated nearly $1.4 billion worth of positions across major exchanges, as noted by derivatives data provider Bybt.
Source: https://www.coindesk.com/flash-crash-bitcoin-price-slides-by-1-4k-in-minutes

752

Ethereum News & Updates / Five Years In, DeFi Now Defines Ethereum

« on: August 02, 2020, 02:32:36 PM »

DeFi Dad is a DeFi super user sharing his money experiments and tutorials on Twitter and YouTube. He is an organizing member of the Ethereal Summit and Sessions, host of The Ethereal Podcast and a weekly contributor to The Defiant and Bankless.

Ethereum has always been difficult to explain. Even the founders of Ethereum have sometimes struggled to communicate the project’s transformative potential in layperson’s terms. Metaphors such as “world computer” and “gas” tried to translate Ethereum to the world, but looking back it’s clear how little we understood about the platform’s true capabilities.
Source: https://www.coindesk.com/five-years-in-defi-now-defines-ethereum

753

Bitcoin News & Updates / Ethereum’s DeFi Luminaries Discuss What’s Next

« on: August 02, 2020, 02:24:53 PM »

For decentralized finance (DeFi) to make its mark, it must reach beyond the crypto bubble, said MakerDAO founder Rune Christensen.

“Compared to where we’re going next, we’ve still just scratched the surface of what this technology will do,” Christensen, whose lending platform recently topped $1 billion in committed assets, said.

He was joined by fellow DeFi luminaries Robert Leshner and Hayden Adams on Wednesday in a live-streamed conversation on the state of the $3.8 billion DeFi market. The session, part of CoinDesk’s Ethereum at Five series, was moderated by reporter Will Foxley.
Source: https://www.coindesk.com/coindesk-live-recap-ethereums-defi-luminaries-discuss-whats-next

754

Coinbase / Coinbase Considering 19 Additional Cryptos for Exchange Listing

« on: August 02, 2020, 02:10:39 PM »

Coinbase is considering listing ampleforth, hedera hashgraph, blockstack and 16 other digital assets in the cryptocurrency exchange’s latest exploratory review.

On Friday, the San Francisco-based exchange announced it will evaluate 19 additional cryptocurrencies against its "Digital Asset Framework" for potential inclusion on its popular trading platform.
This latest round includes ampleforth, band protocol, balancer, blockstack, curve, fetch.ai, flexacoin, helium, hedera hashgraph, kava, melon, ocean protocol, Paxos gold, reserve rights, tbtc, the graph, theta, uma and wbtc.
Source: https://www.coindesk.com/coinbase-considering-20-additional-cryptos-for-exchange-listing

755

Bitcoin News & Updates / Bitcoin Pushes to $11,450, DeFi Value Locked Now at $4B

« on: August 02, 2020, 02:01:50 PM »

Bitcoin and ether continue to make gains Friday and stakeholders are increasingly investing their crypto into DeFi.

Bitcoin (BTC) trading around $11,333 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours.
Bitcoin’s 24-hour range: $10,974-$11,460
BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
Source: https://www.coindesk.com/market-wrap-bitcoin-pushes-to-11450-defi-value-locked-now-at-4b

756

Bitcoin News & Updates / Bitcoin’s Option Market Is Now Skewed Bullish

« on: August 02, 2020, 01:07:31 PM »

Bitcoin’s price jumped to a fresh 11-month high on Friday, with the options market betting on a sustained bull move.

The top cryptocurrency by market cap rose to a high of $11,467 during the U.S. trading hours, surpassing the previous multi-high month high of $11,394 reached on Monday.
Bitcoin has rallied 24% in July and looks overbought as per the 14-day Relative Strength Index, a widely tracked technical indicator.
Source: https://www.coindesk.com/bitcoins-option-market-is-now-skewed-bullish

757

Ethereum News & Updates / Dollar’s Decline, Ether’s Moneymakers and Coinbase’s Considerations

« on: August 02, 2020, 01:02:47 PM »

The Securities and Exchange Commission appears to be interested in Binance’s eponymous blockchain, 132% of ether wallets are in profit and the Bank of Japan is getting serious about CBDC R&D.
source: https://www.coindesk.com/blockchain-bites-dollar-ether-coinbase

758

Ethereum Classic / Ethereum Classic Suffers Reorganization That Resembles 51% Attack Amid Miner Com

« on: August 02, 2020, 11:38:26 AM »

Ethereum Classic (ETC) suffered a 3,693-block chain reorganization early Saturday morning, an event first thought to be a possible 51% attack, after a miner used old software after having been offline, according to Terry Culver, CEO of Ethereum Classic Labs.

The reorganization caused all state-pruned nodes to stop syncing and is “likely caused by a 51% attack,” cryptocurrency miner Bitfly initially wrote on Twitter.
Source: https://www.coindesk.com/ethereum-classic-undergoes-likely-51-attack-with-3693-block-chain-reorganization

759

Bitcoin News & Updates / Bitcoin Miners Saw 7% Revenue Increase in July

« on: August 02, 2020, 11:08:06 AM »

Bitcoin miners enjoyed a 7% increase in revenue during July, driven by higher network fees and increased transaction volume as bitcoin (BTC) rallied to new yearly highs above $11,400.

BTC miners generated an estimated $300 million in revenue in July, up from $281 million in June, and the first monthly increase in miner revenue since April, according to Coin Metrics data analyzed by CoinDesk.
Revenue estimates assume miners sell their BTC immediately.
Fees generated $25 million in July, eclipsing the previous 12-month high of 8.3% fee revenue in May.
Source: https://www.coindesk.com/bitcoin-miners-saw-7-revenue-increase-in-july

760

Decentralized Exchanges (DEX) / Decentralized Exchange Volumes Rose 174% in July, Topping $4.3B and Setting Seco

« on: August 02, 2020, 11:00:53 AM »

July trading volume on decentralized exchanges set its second consecutive record high, rising 174% from June, according to data from Dune Analytics.

Aggregate trading volume on decentralized exchanges reached $4,32 billion in July, up from $1.52 billion in June.
41% of July’s volume came from Uniswap, on which traders speculate on assets ranging from “a better Bitcoin” to a coin named after fried chicken.
Source: https://www.coindesk.com/decentralized-exchange-volumes-rose-174-in-july-topping-4-3b-and-setting-second-straight-record

761

Bitcoin News & Updates / Nearly $100M in Bitcoin Moved to Ethereum in July, Led by Retail Traders

« on: August 02, 2020, 10:52:09 AM »

Ethereum is still the most popular off-chain destination for bitcoins as its supply of tokenized bitcoin (BTC) grew more than 70% in July.

More than 20,000 BTC — worth roughly $225 million — are now tokenized and used in Ethereum-based protocols.
Wrapped Bitcoin (WBTC) represents over 76% of the total tokenized bitcoin supply with over 15,500 BTC tokenized.
The total supply grew by roughly $96 million in July, following June’s record growth.
Source: https://www.coindesk.com/nearly-100-million-in-bitcoin-moved-to-ethereum-in-july-led-by-retail-traders

762

Bitcoin News & Updates / Bitcoin Ends July at Highest Monthly Close Since 2017 Peak

« on: August 02, 2020, 10:47:25 AM »

Bitcoin closed the month of July at $11,351, its highest monthly close since the bellwether cryptocurrency’s all-time high nearly two-and-a-half years ago.

Prior to this month, Bitcoin had closed below $11,000 every month since nearly reaching $20,000 in December 2017.
Bitcoin futures on CME closed July at $11,620.
Bitcoin gained 24% in July, according to Messari, a relief to bullish traders after a 3% loss in June.
Source: https://www.coindesk.com/bitcoin-ends-july-at-highest-monthly-close-since-2017-peak

763

Bitcoin News & Updates / Blockstack CEO Says Bitcoin Is a Better DeFi Solution Than Most Think

« on: August 01, 2020, 06:28:05 PM »

Bitcoin a secure cryptocurrency, whereas Ethereum has been a “frontrunner” when it comes to smart contracts.
As interest in smart contracts surges, some Bitcoiners are asking: why can't Bitcoin (BTC) become the foundation for smart contracts too, instead of Ethereum (ETH)?

Muneeb Ali, co-founder and CEO of Blockstack open-source platform, believes that the best way to bring about a user-owned internet "is to anchor applications and smart contracts to the Bitcoin network in a way that uses Bitcoin as a reserve currency and its powerful blockchain as a security mechanism."
Source: https://cointelegraph.com/news/blockstack-ceo-says-bitcoin-is-a-better-defi-solution-than-most-think

764

Ripple News & Updates / Ripple Rebounds and Overruns the Bears as It Targets $0.28 Resistance

« on: August 01, 2020, 06:21:52 PM »

Today, Ripple has hit above the $0.26 price level at the time of writing. Earlier on, buyers have been pushing XRP from the previous overpriced level of $0.235. The coin bounced above $0.23 to break the $0.235 resistance.

Nonetheless, the momentum extended to $0.25 high on July 29. However, further upward movement was stalled below the resistance as buyers fail to push XRP above $0.25. On July 31, the resistance was breached as price rallied above it. Today, XRP is trading at $0.27 at the time of writing. A further upward move to $0.28 is expected but XRP may resistance at the recent high.
Source: https://coinidol.com/ripple-targets-resistance/

765

Ethereum News & Updates / Ethereum Rallies Continue as It Faces another Hurdle at $360

« on: August 01, 2020, 06:19:19 PM »

Ethereum has continued its bullish run as buyers were able to push ETH above the previous resistance at $340.

They were initially stopped at the $340 resistance as the market dropped to $330 low. There was a quick recovery as price broke the resistance and push to the previous highs. Today, ETH has broken above $340 and it is approaching the high of $360 at the time of writing. The upside rise will face minor resistance but it will propel price for a further upward move.
Source: https://coinidol.com/ethereum-faces-hurdle/