For Some Reason, Wash Trading Happens on Decentralized Exchanges Too

Decentralized exchanges are generally liked for their transparency and lack of custody, reducing the trust requirements in their operators. Many centralized exchanges have been caught in a peculiar type of manipulation used to inflate their trading volumes. This was first highlighted by the Bitwise Report released in March 2019, which analyzed trading patterns on some of the platforms to conclude that up to 95% of reported Bitcoin trading volume at the time was essentially fake. One of the ways to inflate volume is the practice of wash trading, where a…

Bitcoin Is At a “Pivotal Level” That May Rapidly Boost BTC to $10,400

It’s been an explosive past week for Bitcoin. After flatlining around $9,200 for weeks, the leading cryptocurrency surged as high as $9,690 on top exchanges during Thursday’s trading session. The cryptocurrency has since been rejected at that high, falling to $9,550 as of this article’s writing. This correction has not been welcomed. But Bitcoin stands to rally even further should it retest and surmount $9,700 in the near future, according to an analyst. Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH Bitcoin Could…

Chainlink Brings FX Rates Data From Top Korean Banks to DeFi

Chainlink (LINK) is integrating with CenterPrime to bring a foreign exchange, or FX, rate data feed from the Korean banks to the DeFi space. “A breakthrough for Korean fintech industry” CenterPrime, a Hyperledger based project, has access to the Korean open banking API that streams FX rate data from several local banks. According to CenterPrime’s press release, this is a major milestone for the Korean fintech space. They noted: “This integration with Chainlink marks a major breakthrough for the Korean fintech industry. For the first time in history, applications will…

Why Traders Don’t Think Chainlink (LINK) Will Set Fresh Highs Anytime Soon

Following the parabolic rally that Chainlink saw just a couple of weeks ago, the cryptocurrency has been struggling to garner any significant momentum. Its price has remained stagnant, mostly trading below $8.00 as its buyers attempt to catalyze further buying pressure. Despite showing signs of near-term weakness, the cryptocurrency remains in firm bull territory over a mid-term time frame, as it is currently up from its 30-day lows of $4.40 that were set in late-June. Analysts are now cautioning against getting too excited about the cryptocurrency’s near-term outlook, however, as…

Crypto Exchange Data Shows Traders Long After Bitcoin Price Breaks $9.6K

There are few indicators capable of accurately detecting professional traders’ sentiment on Bitcoin (BTC). To ascertain whether or not market participants are positioned in a bullish or bearish manner, analysts usually rely on technical analysis and derivatives markets, although those usually mix retail flow.   More recently some exchanges created internal metrics exclusively measuring top traders positions. Looking at exchange-provided data highlighting traders’ long-to-short positioning, one can see that the indicator currently shows a 30-day high on the long/short positions at Binance.  Despite launching its futures platform only ten months ago,…

New Ruling Classifying Bitcoin as ‘Money’ Isn’t Anything Special

A recent Washington D.C. court case saw a man prosecuted on multiple counts for running a Bitcoin (BTC) tumbler — a method of hiding Bitcoin transactions. The court charged the defendant on three counts back in December 2019, including operating an unlicensed money transmitting business, as a July 24 court document revealed.   The document noted: “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’…

A Deep-Dive Into Some of the ZERO Wallet’s Advanced Security Features

From its initial announcement back in April to the $430,000 raised in the recently completed crowd-sale, the NGRAVE ZERO has created huge buzz in the crypto community. Billed as the most secure hardware wallet available, the permanently air-gapped ZERO is the first to gain a top security rating of EAL7. But the devil is in the details so they say, so while waiting for the first units of the device to ship, Cointelegraph asked NGRAVE CEO Ruben Merre to explain just how one goes about making the “most secure hardware…

Here’s the Crucial Level That Could Spark an Ethereum Rally to $1,000

Ethereum is currently in the process of consolidating following its immense uptrend seen throughout the past couple of days. The cryptocurrency is showing some signs of strength as it trades within the $270 region. It is a strong possibility that the two assets will remain closely correlated in the days and weeks ahead, which means that ETH may not be able to push any higher until Bitcoin can shatter the massive resistance it faces within the upper-$9,000 region. One analyst is also noting that Ethereum is currently pushing up against…

Former Ethereum Researcher Seeks a Change of Venue for North Korea Court Case

Ethereum Foundation researcher Virgil Griffith plans to request changes to a court case against him — the result of a trip to North Korea. Griffith “will now seek to get the case moved for lack of venue out of the U.S. District Court for the Southern District of New York,” the Inner City Press said in a July 23 report. Griffith’s court over previous months Griffith faced initial charges from the U.S. District Court for the Southern District of New York in January 2020 for travelling to North Korea where…

Can Bitcoin or Other Cryptocurrencies Fix This?

The COVID-19 pandemic has forced economies to a halt and stretched the central banking system. Central banks have been printing money on a scale like never before, which makes the 2008 financial crisis pale in comparison. Over $2 trillion dollars were printed to stabilize the markets and increase liquidity. Back in 2008, Bitcoin (BTC) was created in reaction to these quantitative easing programs as an alternative to fiat currencies and the traditional financial systems. Where governments can print money at will, a numerus clausus asset class is attractive as an…