Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Likely

Bitcoin started a steady increase and broke the $9,300 resistance against the US Dollar. BTC is currently up close to 3% and it might continue to rise towards the $9,500 resistance. Bitcoin is gaining momentum and it recently broke the $9,300 resistance zone. The price traded to a new weekly high at $9,372 and settled above the 100 hourly simple moving average. There is a short-term ascending channel forming with support near $9,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains supported on…

‘Governance is Critical’ for Crypto Ecosystem

Gavin Wood, the co-founder of Ethereum and Parity Technologies, says crypto-economic systems act like “nation-states” of the internet, running on governance as a type of parliamentary democracy.  Wood joined the Unitize conference on July 6 to talk about how blockchain governance essentially acts as laws for these nation-states that need to be able to adapt to stay relevant.  “We haven’t really thought about how blockchain can be used as a means of actually evolving the rules of the blockchain,” the Ethereum co-founder said. “Decentralization in crypto prevents the corruption of…

Bitcoin’s “Intrinsic Value” Nears $13k — Here’s Why That’s Big for Bulls

Bitcoin has performed extremely well since March’s lows, rallying over 150% from the $3,700 capitulation bottom. Even after a strong $1,200 retracement from the $10,500 highs, BTC is still one of the best-performing assets of 2020. Yet a crucial indicator suggests that Bitcoin is still intrinsically undervalued, boding well for the bull case. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk & Ethereum A Crucial Bitcoin Indicator Suggests Bitcoin Is Seriously Undervalued Many analysts, especially those on Wall Street, find it hard to value Bitcoin. The…

Telegram Will Shut Down the TON Testnet by August 2020

Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less…

Record Bitcoin Options Market Volume Shows Institutions Keen on Crypto

A CryptoCompare report published on July 6 has closely analyzed monthly trends in the cryptocurrency exchange market and found that crypto derivatives volumes have begun to taper off after peaking this May. Crypto derivatives volumes dropped 35.7% in June to $393 billion. Historical Monthly Derivatives Volumes. Source: CryptoCompare The overall trend which was also observed in the spot markets can be partially explained by the lack of volatility currently seen in Bitcoin and the majority of crypto assets within the market. There are a few exceptions like DeFi tokens, which…

3 Big Blockchain Companies Teamed Up on a DeFi Product That Pays Passive Income

In a special announcement made at the Unitize conference on July 6,  Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits. The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future. Do Kwon, founder and CEO of Terra, explained in a prepared statement: “While DeFi staples such as Maker and Compound have been revolutionary…

IPOs Are ‘Really Not Worth It’ Says Tim Draper

Tim Draper, a famous American venture capitalist and serial cryptocurrency investor, believes that initial public offerings, or IPOs, are not the best source of funding for industry firms. The billionaire investor joined the Unitize conference on July 6 to talk about investing in early stage blockchain startups. Draper’s thoughts on IPOs During the Unitize panel, Draper highlighted that existing regulations make it difficult for blockchain companies to go public. “I don’t recommend going public to anybody right now unless your company is worth at least $10 billion,” the investor said.…

Three Female Binance Award Nominees Get Blocked From Instagram

Rachel Siegel, also known as CryptoFinally, was recently the only woman nominated for the Binance Influencer Awards. She alleges that she and two fellow female crypto influencers were deplatformed from Instagram following their criticism of the underrepresentation of women in the Blockchain industry. The other women who were allegedly targeted are TechWithCatalina and GirlGoneCrypto.  Questioning the status quo Siegel told Cointelegraph that she has been very vocal about underrepresentation of women in the crypto industry. She noted that out of 25 award nominees, she is the only female: “I have…

Bitcoin is on the Cusp of Printing a MACD Bull Cross as Stock Market Rallies

Bitcoin was able to post a bullish reaction to its recent dip below $9,000, with its buyers sparking a rally that sent it as high as $9,300. Although this rally has not confirmed any type of notable technical breakout, it has helped shift some of the benchmark cryptocurrency’s technical indicators into the favor of bulls. One analyst is now noting that the crypto is flirting with posting a MACD bull cross. This technical pattern – if confirmed during the imminent daily close – would be a significant development for bulls,…