Bitcoin Likely To Target Fresh Monthly High Above $9,400

Bitcoin traded as high as $9,377 before starting a downside correction against the US Dollar. BTC is currently up holding the $9,200 support and it could continue to rise steadily. Bitcoin is trading in a positive zone above the $9,200 and $9,180 support levels. The price is likely to resume its upward move above the $9,300 and $9,320 levels. There is a key bullish trend line forming with support near $9,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls are likely to aim a…

Bitcoin Will Never Be Truly Private Says Andreas Antonopoulos

Bitcoin educator Andreas Antonopoulos says he would like to see more privacy features on Bitcoin, but they’re unlikely to happen anytime soon. In a livestream Q&A on Antonopoulos’ YouTube channel on July 7, he said Bitcoin (BTC) was unlikely to ever implement privacy features similar to those used by Monero (XMR). Antonopoulos said creating such features on a cryptocurrency like BTC “would create an enormous amount of controversy.” In addition, he said the structure of Bitcoin simply doesn’t allow ring signatures and stealth addresses. “I think what we’re going to…

Fake Tokens on Uniswap Are Trying to Cash In on DeFi Hype

Scam tokens are a growing problem on the decentralized exchange and liquidity pool Uniswap — owing to the protocol’s open listing policy. In recent days warnings have been issued about scam tokens targeting four of the most buzz-worthy decentralized finance (DeFi) projects including Curve Finance, 1inchExchange, Tornado.Cash, and dYdX. With any token able to be listed on the platform’s drop-down menu simply by making a GitHub request, the platform’s users are increasingly calling for more stringent vetting to be introduced.  Open listing policy leads to scam tokens Decentralized derivatives project…

Brock Pierce Reveals Motivation Behind Surprise Presidential Bid

Crypto venture capitalist Brock Pierce has revealed his campaign to become the next U.S. president will focus on creating a country where technological innovation is allowed to flourish. Pierce spoke at a Unitize conference fireside chat on July 7. He alluded to the fact that while he’s unlikely to win, the campaign will be a way to highlight the benefits of blockchain. A key theme will be building a better environment for innovators — particularly Millennials and those in Generation Z. “The United States historically has been the capital of…

Former Official Says China Needs to Reform Crypto Laws

Xiao Gang, former chair of the China Securities Regulatory Commission, said the country is facing a digital economy transformation and needs to embrace the right regulations for the fast growing crypto market.  Xiao was speaking at the 19th Pushan Lectures of China Finance 40 Forum, or CF40, which was held online on July 7. The event saw a number of officials discussing the lessons learned from the 30-year development of China’s capital market.  According to local news reports, Xiao said there was an urgent need to embrace digital reform: “The…

CFTC Is Waiting on SEC to Allow Futures Trading of More Digital Assets, Says CFTC Chairman

In a July 7 interview with predecessor Jim Newsome, current Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tarbert ran down a list of pending concerns standing between cryptocurrencies and the long-awaited promised land of regulatory clarity. Securities regulation and the CFTC’s purview Tarbert was careful to outline the distinction between the work of the CFTC and its elder brother regulator, the Securities and Exchange Commission, or SEC.  The determination of whether a digital asset is a security is “the sole province of the SEC,” Tarbert explained. “If their…

Future Bleak for Private Stablecoins, SFB Economist Says

Speaking on a Unitize digital conference panel, Peter Dittus, chief economist for SFB Technologies, said he does see a place for privately-issued stablecoins.  “I don’t see a great future,” Dittus said of stablecoins on the June 7 panel, live streamed by Cointelegraph.  Two stablecoin classifications exist Stablecoins exist in two categories — privately issued and CBDCs, according to Dittus. Issued by governments, CBDCs essentially turn paper cash digital, with each coin representing the value of the nation’s currency to some degree. Privately issued stablecoins also often hold to the value…

Cardano’s ADA is Either #6 or 7 By Market Capitalization — Depending on Who Counts

Cardano’s ADA recently overtook Litecoin (LTC) in market capitalization. Now it may have passed Bitcoin Satoshi Vision (BSV) as well, depending on how the metric is calculated. BCH, BSV, ADA & LTC. Source: CoinMarketCap. How many ADAs out there? At the time of this writing, CoinMarketCap, or CMC, shows ADA in seventh spot, while Nomics has it at sixth —- just ahead of BSV. The controversy stems from the circulating supply —- CMC reports 25,927,070,538, while Nomics has the figure at 31,112,484,646. This represents a five billion ADA discrepancy. Blockchair,…

Bitcoin Futures Premium Shows That Institutions are Bullish on BTC

Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency. This premium is particularly clear while looking towards the CME – which seems to indicate that professional traders and institutions are particularly bullish on BTC at the present moment. This comes as Bitcoin and the entire cryptocurrency market faces an intense bout of abnormally low volatility, which has caused liquidity to dry up. Periods of low volatility coupled with limited liquidity are typically followed by…