$11,200: Bitcoin Supporters Aim Big After Recent Spike And Volatility

Bitcoin is gaining bullish momentum and it broke the $9,800 resistance zone against the US Dollar. BTC price is likely to continue higher if it settles above the $10,000 resistance zone. Bitcoin is slowly moving higher and it is trading above the $9,800 and $9,720 support levels. A successful daily close above the $10,000 level could spark a sharp rise in the near term. There was a break above a key contracting triangle with resistance near $9,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). There…

Bakkt and Galaxy Digital Team-Up on New Institutional Offering

The Intercontinental Exchange’s digital asset custody and derivatives platform Bakkt has partnered with crypto asset manager Galaxy Digital to launch a ‘white glove’ service for institutions seeking Bitcoin (BTC) exposure. The collaboration will see Galaxy Digital Trading’s (GDT) matching engine and trading platform offered alongside Bakkt’s digital asset custody services.  “We designed this partnership to service the uptick in demand our two firms have received from traditional asset managers seeking access to physical Bitcoin,” said Galaxy Digital’s Tim Plakas. “Together, Galaxy Digital and Bakkt offer a safe, efficient, and well-regulated…

DEX Tokens Have Outperformed Centralized Exchange Tokens by 5X

Decentralized exchange (DEX) tokens’ year-to-date returns are more than five times that of their centralized counterparts according to the latest DeFi report by cryptocurrency research platform Messari. DEX tokens have increased on average 241% so far this year while centralized exchange tokens have only increased by 44%. And that’s not including some recent upswings. The report said that Kyber’s token (KNC) was leading the charge with an increase of more than 420%, however after the report was published, KNC nearly doubled in price and LRC increase by 46%, while the…

Tesla Stock Soars Above $1,000, Surpassing Bitcoin’s Market Cap

Today the value of Tesla stock set a new record high at $1,027, bringing the market capitalization to $188 billion, and also surpassing the total market cap of Bitcoin (BTC), which hovers at $181 billion. While the value of Tesla stock and Bitcoin price are not interconnected, there is a symbolic comparison between the two as the same investor FOMO which drove several Bitcoin rallies in the past appears to be present in the stock market. The stock price of Tesla hits an all-time high. Source: Tradingview Will the FOMO…

Coinbase Exploring Support for 18 New Digital Assets

The largest cryptocurrency exchange in the United States is considering offering support for a variety of new digital assets. According to a June 10 blog post from Coinbase, the exchange is exploring support for Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin, SKALE Network, Synthetix, and VeChain. However, Coinbase is not considering adding Siafunds. Coinbase did not give a timeline for listing these assets. The blog said the process required “significant technical and compliance review” in addition to some regulatory…

Chinese Stakeholders Don’t Want to Share Their Personal Data With Government Run Blockchains

Chinese local governments are facing difficulties when implementing blockchain applications due to stakeholders unwillingness to share privately owned data, according to a local report on June 10. Data is king According to the investigation, there are more than 30 related local governments procuring blockchain technology. Their aim is to leverage blockchain to build management platforms that improve local administrative and social governance capabilities. Some of these projects have been forced to shut down in under two years, according to the news due to lack of supporting data. The reason? Many…

Coinbase Unveils USDT Custody, Then Deletes Announcement

Coinbase Custody, an international institutional cryptocurrency holdings arm of well-known U.S. exchange Coinbase, announced compatibility for stablecoin Tether (USDT), only to delete traces of the announcement shortly thereafter.  Coinbase Custody, as well as Tether CTO Paolo Ardoino, unveiled a USDT listing on the Coinbase platform in May 30 tweets, according to CoinDesk reporting on June 10. The tweets have since been deleted at some point between their posting and the June 10 report.   We will update as further details come in. Author: Cointelegraph By Benjamin Pirus Source link

3 Reasons Why Bitcoin Price Continues to Reject at $10,000

Within the last hour Bitcoin (BTC) price rose to $10,180 on BitMEX before quickly reversing to $9,600. The quick rejection means that for the third time in 30 days Bitcoin price has rejected at the $10,000 resistance level. Three factors that may have contributed to the volatility are: the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the liquidation of $14 million worth of short contracts, and the continued resilience of the multi-year resistance area from $10,000-$10,500. BTC paints a darth maul candle at BitMEX. Source: Tradingview The Fed’s FOMC…

Bithumb Shares Insights on That $2.6M ETH Transaction

According to Bithumb, the 0.55 Ethers (ETH) that incurred a $2.6 million transaction fee ended up in one of the exchange’s wallets. Mistake or money laundering? Earlier today, someone paid 10,668.73 Ethers in gas to move $134 worth of the asset from one wallet to another. For comparison, today’s average gas price is $0.34. The most natural assumption is that the sender must have made a mistake. Though the sender has not come forward, SparkPool, the miner that mined the transaction’s block, has frozen it until they can figure out…