Day: February 7, 2020

How Closely Does ETH Follow BTC?

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Cryptocurrency market sentiment is often influenced by various factors, such as expert forecasts or political events. However, if analyzing on a wider time frame, it turns out that the prices of most cryptocurrencies — especially of Ether (ETH) — could mostly depend on the valuation of Bitcoin (BTC). The results of research conducted by analysts from Skew in November 2019 showed that ETH had been the highest-correlated cryptocurrency to BTC for two years running, with an average correlation coefficient of 0.9. Meanwhile, ETH was the highest correlated asset in 2019,…

Continuing Its Crypto Market Takeover, Binance Fires Up BNB Futures

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Crypto exchange unicorn Binance will launch Binance Coin (BNB) futures trading on Feb. 10. As the 17th cryptocurrency available on Binance’s futures trading branch, BNB comes with 50x leverage, paired against Tether’s USDT stablecoin, Binance detailed in a Feb. 7 press release provided to Cointelegraph. BNB pumped with the rest of the market Binance’s BNB coin has already rallied several dollars this month, hitting a price of $22.16 by press time. Cointelegraph analyst and trader Keith Wareing sees upcoming demand for the BNB asset itself. “Looking at trading volumes on…

Alexander Vinnik Claims Injustice While Now Fighting Charges in France

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After spending 30 months in detention, Greek authorities have finally extradited the Russian national and alleged Bitcoin (BTC) money launderer Alexander Vinnik to France. Prosecutors in France are charging Vinnik, operator of the defunct BTC-e crypto exchange, with multiple counts of money laundering, extortion and conspiracy. Vinnik also has pending extradition requests from both Russia and the United States. The alleged Bitcoin criminal has previously stated his preference for extradition to his native homeland, which Greek officials have turned down. Thus, after the conclusion of his trial in France, Vinnik…

Why DeFi’s Billion-Dollar Milestone Matters

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It was only December when the entire decentralized finance (DeFi) market was worth less than $700 million. Early this morning, it hit $1 billion, a figure that even the most fervent blockchain skeptics would have a tough time dismissing as meaningless. That figure is the measure of all the crypto held in projects that lend, hedge, abstract, swap or otherwise make structured bets using ethereum’s smart-contract powers, as totaled by DeFi Pulse, which first showed the collective market at $1 billion at 8:00 UTC Friday. To be clear, $1 billion…

Introducing the Cointelegraph Top 100

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Surveying the landscape as the most widely read publication covering cryptocurrency and blockchain, Cointelegraph’s editors had the ambitious idea to put together a list of the most influential people in this hectic, hype-filled, world-changing, weird industry that we all cover. After weeks of heated debate — will politicians be at the forefront of the crypto space in 2020? should we have more developers or business leaders on the list? which Winklevoss twin is more influential?  — we’re thrilled to present you with the first ever Cointelegraph Top 100, our list…

Ethereum Price Sets 2020 High — Are Investors Buying the ETH 2.0 Hype?

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Altcoin price action has been the talk of the town for the past two weeks — and for good reason. Since the start of 2020, altcoins like Icon (ICX), AION and WanChain (WAN) have surged more than 200%, 120% and 60% respectively, leading some analysts to suggest that a new altcoin season has begun.  Crypto market daily price chart. Source: Coin360 Now, Ether (ETH) appears to have joined the party, and since the altcoin dropped to $115.95 on Dec. 18, 2018, it has quietly rallied 90% to reach a 2020…

Kraken’s Dan Held on What’s Different About Bitcoin at $10K This Time

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As bitcoin inches towards $10,000, @nlw is joined by Kraken’s Dan Held to discuss how the narrative, infrastructure and audience have changed since this price last year. Bitcoin is on a seven-week upward trend. Having already smashed through its $9,000 Vegeta memes, it is now inching closer towards $10,000.  On this episode, @nlw is joined by Kraken’s Dan Held to discuss how bitcoin has changed in a number of ways since the last time we were at the $10,000 price level last year. They look at: Disclosure Read More The…

Appealing to Normies: Advancing Bitcoin Starts With Better UX

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Why isn’t the average person into bitcoin? That was the question posed by Blockstream’s Selene Jin at the Advancing Bitcoin conference in London on Thursday, in a room with some of the most hardcore bitcoiners on the planet. Her answer? “Normies don’t understand money, have no long-term vision or the ability to think outside the box.” And there’s something else she thinks is holding back broader adoption. More “normies” might use bitcoin if the user experience (UX) was better, if – in Silicon Valley tech speak – they were “delighted”…

Derivatives Trading on FTX Suggests Users Think Trump Will Win the 2020 Election

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Crypto derivatives exchange FTX recently launched “TRUMP,” a new futures trading product that lets users bet on President Trump’s re-election in 2020.  “So far most of the volume has traded on the offer, implying that traders think Trump is likely to win re-election,” an FTX representative told Cointelegraph. The TRUMP crypto product is merely a futures contract that is worth $1 if Trump wins the 2020 presidential election and $0 if he does not. TRUMP’s value at any given moment can be understood as an expression of how likely the…

New ‘TRUMP’ Token Giving 62% Odds of US President’s Reelection

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U.S. President Donald Trump tweeted last year he isn’t a huge fan of bitcoin (BTC) and other cryptocurrencies.  They’re “not money,” he wrote in July, saying their value is “highly volatile and based on thin air.” Now, crypto traders outside the U.S. can make their feelings known – and perhaps some money – on the 45th U.S. president. This week a digital token, Trump 2020 with the symbol TRUMP, launched courtesy of cryptocurrency exchange FTX. FTX says the new token will work like a futures contract, allowing traders to take…