Bitcoin, Ethereum, and most other cryptocurrencies have largely stalled over the past few weeks. That’s in terms of price.But data shows that the two leading blockchains are seeing rapid growth in usage. This comes in spite of fears that a second leg to the 2020 bear market/trend is on the horizon.Related Reading: Buying Bitcoin at $8k…
The number of daily transactions on the Ethereum blockchain network surpassed 1 million, a level unseen since January 2018.In recent months, network activity on Ethereum surged as a result of rising demand for decentralized finance (DeFi) applications and growing anticipation towards ETH 2.0.Why is Ethereum Daily Transaction Volume Climbing So Rapidly?Since January 2020, within six…
While many in Washington D.C. are hesitant to give Bitcoin their support, a Congressman recently took to Twitter to support this nascent space.Related Reading: Crypto Tidbits: Bitcoin Holds $9k, Ethereum DeFi Gains Traction, Trump Talked BTC in 2018Congressman Throws Weight Behind Bitcoin, Calls It “Sound Money”On June 22nd, the Congressman of Ohio’s eighth district, Warren…
Bitcoin has found itself stuck in the $9,000s for weeks on end. Save for a few flashes of volatility, the cryptocurrency has traded within 10% of $9,000 for nearly two months now.Historical odds say that BTC has an extremely high chance of breaking out of this consolidation, but market data shows that institutions are betting…
The past few days and weeks have seen Ethereum’s decentralized finance ecosystem erupt higher.As Camila Russo, a former Bloomberg journalist turned Ethereum publicist, accentuated this when she noted on June 19th that the past week has seen the value of tokens locked in DeFi applications surge by 40% to $1.4 billion.Some are skeptical that the…
While Bitcoin’s uptrend has stalled, prominent names in the financial world have continued to delve into cryptocurrency.The latest of these is Darius Dale, the Managing Director & Partner at Hedgeye Risk Management. Dale heads the firm’s Macro Strategy team alongside the chief executive of Hedgeye.The analyst announced on June 19th that he “just bought Bitcoin…
Speculation has been mounting around the upcoming protocol upgrade that Ethereum will go through. However, the price of the smart contracts giant seems to have leveled off as it continues consolidation within a $25 trading range for over the past few weeks.The ongoing stagnation phase is forcing the Bollinger bands to squeeze on ETH’s 1-day…
Ripple’s XRP stole the spotlight of the cryptocurrency market after the former chairman of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo affirmed that it does not qualify as a security. Instead, the so-called “Crypto Dad” argues that the cross-border remittances token can be considered a currency like any other sovereign currency.“Ultimately, under a…
Bitcoin is back in the spotlight of the cryptocurrency market after taking a nearly 10% dum. The sudden bearish impulse saw the asset’s price drop from a high of $9,970 to a low of $9,050.Alongside the price slump, over $80 million worth of long and short BTC positions were liquidated on BitMEX alone.From a technical…
The beginning of the month was quite chaotic for Bitcoin and those trading it.On June 1, the flagship cryptocurrency was able to slice through the $10,000 resistance level for the first time since mid-February. But a few hours later, BTC plummeted by more than $1,000 in less than five minutes.The wild price action resulted in…