High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network

Tether has adopted Ethereum scaling solution OMG Network amid record demand for settlement space on the “world computer.” “The integration [between Tether and OMG Network] will result in a reduction of confirmation times delivering faster payments while fees will be reduced without compromising on-chain security,” Tether Inc. said in a blog Wednesday. OMG Network can handle thousands of transactions at a third of the cost of Ethereum as a Layer 2 solution for Ethereum that batches transactions before settlement, OMG Network CEO Vansa Chatikavanij said in a statement. Tether –…

Pantera Capital Has Raised 3x More This Year Than It Did in 2019

Pantera Capital, a crypto investment firm that has $600 million under management, had a very good year, but still not as good as 2018. According to a recent SEC disclosure, Pantera Venture Fund III has raised $164,705,834 to date — and a whopping $68,841,379 of that has come over the last twelve months. While the fund raised only $24,419,455 last year, it still has not topped its 2018 raise of $71,445,000. Pantera Capital fundraising 2018-2020. Source: Cointelelgraph, SEC. The average investor ticket size, which amounts to roughly $1.77 million, increased…

Bulls Stampede Toward $12K Bitcoin Price as Weekly Close Approaches

Bitcoin price is making a strong push toward $12,000 with just 24-hours before the weekly close occurs Despite multiple rejections at the $12K mark, BTC continues to make higher lows and traders are buying dips at underlying support levels Chainlink reached a new all-time high at $19.80 and Ether is struggling to push above $430 Cryptocurrency daily market performance snapshot. Source: Coin360 Typically, for Bitcoin (BTC), weekends are marked by reduced trading volume as day traders take a break and the CME Bitcoin markets are closed.  Experienced traders will also…

15 Ways to Stay Sane While Trading Crypto

This is not a guide of how to trade crypto. This is not about how to make money, how to invest, or where to find alpha.  But if you’ve dabbled in crypto-trading? Then you know this one thing: It can be all-consuming. When your money is on the line, suddenly you’re checking the prices more than you check social media, you obsess about the charts, and even your dreams are filled with candlesticks and Elliot Waves.   Oh, and there’s never a break. Stock day-traders might be Red Bull-pounding stress-monsters from…

Record Ethereum Network Use and Gas Fees Pose Risk to DeFi Expansion

The number of Ethereum network transactions more than doubled in 2020 and is now virtually identical to the January 2018 all-time high.  As shown on the chart below, the number of transactions doubled in the past six months to stand at 1.23 million per day.  Ethereum 7-day average daily transactions. Source: CoinMetrics This situation might seem very bullish at first, but one must remember both EOS and Tron (TRX) started as ERC-20 tokens before launching their own mainnet and running fully independent blockchains. A similar chain migration is happening on…

Whales are Accumulating Bitcoin Despite Its Stalling Momentum

Bitcoin’s multi-week consolidation phase comes close on the heels of the strong uptrend that the cryptocurrency was able to post late last month. Despite its macro outlook remaining incredibly strong, it appears that Bitcoin’s short-term outlook is being impeded by the heavy resistance at $12,000. Buyers attempted to shatter this level yesterday, although the selling pressure here proved to be too significant. It is important to note that yesterday’s bid at this level did not catalyze any sharp pullback or rejection, signaling that buyers are building up strength. Another factor…

Crypto VC Firm Assesses the ‘State of Blockchain Governance’

Everyone in crypto has been talking about decentralized finance (DeFi) since bankless lending started to boom in June. But, looked at another way, it’s really a governance boom. Into this environment has stepped Greenfield One, an early-stage venture capital firm that just published a comprehensive new resource on the topic of blockchain governance. Take, for example, COMP. DeFi has been hot ever since Compound started distributing its COMP governance token on June 15. COMP didn’t introduce new features to the product, it just gave users a means to voice how…

Ireland Will Transpose Latest EU Anti-Money Laundering Rules Into National Law

Cryptocurrency firms in Ireland will soon be regulated in line with the latest European legal framework for the prevention of money laundering and terrorism financing. On Aug. 10, the Cabinet of Ireland approved a bill to transpose the criminal justice elements of the European Union’s Fifth Anti-Money Laundering Directive (AMLD5) into national law, thereby strengthening existing legislation.  Approval from the Cabinet gives Ireland’s Minister for Justice and Equality, Helen McEntee, the go-ahead to publish the new bill, entitled The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020.  Among…