You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
Binance and Coinbase lagging during the crash. At 4 am PDT, Coinbase experienced a failure that prevented its users from withdrawing their cryptos or sending them to other wallets. Affected tokens included Bitcoin, Bitcoin Cash, Ethereum, USD Coin, DAI, Chainlink, and Maker, among others. Binance also faced its own difficulties. BTCUSDS, Binance. Source: TradingView. Interestingly enough, the last time Bitcoin was trading at $680, was back in 2016 and Binance didn’t even exist. In any case, the flash crash may have also benefited all those who had placed orders and filled them up during the recovery. $13 Million To Protect Users In Recent Bitcoin Price Crash. Binance Futures continues to establish itself as a leading platform for Bitcoin and cryptocurrency derivatives trading. Its insurance fund is designed to protect users in times of severe price volatility and auto-deleverage liquidations. Yesterday, Bitcoin lost about 20% of its value in less than 10 minutes as its price went from a ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America. Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ... Despite Crypto Crash: Grayscale Saw Bitcoin Demand Absolutely Rocket. According to the Q1 2020 investment report from Grayscale Investments, the firm saw its biggest quarter ever . By Nick Chong April 16, 2020. Share on Facebook Share on Twitter Pinterest LinkedIn Tumblr Email. Share. Share on Facebook Share on Twitter Pinterest Email. There’s no doubt the crypto industry has shrunk since ... Bitcoin (BTC), Bitcoin Cash (BCH) & Bitcoin SV (BCH) (November 2018 - December 2019) 2.1 Efficient resource allocation theory. According to Binance Research, the mining allocation problem can be referred to as a problem of efficient resource allocation, from the perspective of participants in the Bitcoin mining industry: SHA-256 (ASIC) miners. According to data from CryptoCompare, during a span of 15 minutes, between 00:05 UTC and 00:20 on Sunday (May 10), which is approximately 48 hours before Bitcoin’s next (third) halving, the average price of Bitcoin across the exchanges tracked by the CryptoCompare Index dropped from $9,483 to $8,327, i.e. a loss of 12.2%.. Over on Coinbase, the crash was slightly less severe, with the ... The price of Bitcoin has dropped by $600 after being rejected at the resistance level of $12,000 for a third time in the last 30 days. In the run-up to the crash, Binance and Coinbase reported problems, Bithumb was raided by the South Korean police. This uptick in Bitcoin and the crypto markets came as a relief after a tumultuous Q1, in which Bitcoin prices essentially halved on Black Thursday. Unsurprisingly, since the release of the Binance OTC Trading Portal (an automated RFQ platform) on April 2nd, the buy-sell ratio for Bitcoin has been skewed towards the buy side , coinciding with an increase in price.
Bitcoin Flash Crash, Why Did Bitcoin Drop, Coinbase Kyber, Binance Fiat & Keep Investing
Le BTC serait peut être sorti de sa baisse , nous abordons une analyse graphique bearish et bullish ensemble ! Nous voyons en détail chaque support, résistan... Binance steht mit dem USA Ausschluss unter Druck und der Binance Coin auch. Libra kämpft weiter mit den Gesetzen während Telegram TON & GRAM Ende Oktober starten wird. Wir wissen sogar wo ihr es ... Bitcoin Flash Crash, Why Did Bitcoin Drop, Coinbase Kyber, Binance Fiat & Keep Investing The Modern Investor. Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ... Le BTC serait peut être sorti de sa baisse , nous abordons une analyse graphique bearish et bullish ensemble ! Nous voyons en détail chaque support, résistan... Markets Crash After Reports That Binance's Shanghai Office Closed in Crypto Crackdown Follow us on Twitter: https://twitter.com/AltcoinDailyio Markets Crash ... #Bitcoin #Binance #Müller Report #Neblio #Starbucks #BAKKT #Cardano #Crypto #Invest #Bitcoin #XRP #StellarLumens #Google #Vechain #Ripple #ethereum #Bakkt #Crypto #cryptocurrency #news #btc # ... In this Cryptocurrency News video, I look at the Crypto Market's price crash, Binance's latest news reporting on their VIP customers. Exchanges not likely to consolidate and some Crypto FUD from ...