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…

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…

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…

Ethereum Price Regains Bullish Momentum, But $400 Still A Key Hurdle

Ethereum recovered nicely above the $380 and $390 levels against the US Dollar. ETH price must surpass the $400 barrier for another leg higher in the near term. Ethereum is up over 5% and it broke the key $380 and $390 resistance levels. The price traded close to the $398 level and it settled above the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $390 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct a…

New York Financial Regulator Greenlights 10 Tokens for Custody

The New York State Department of Financial Services has issued a greenlist of 8 virtual currencies for sale and trade, and 10 coins approved for custody by licensed entities. According to a Aug. 3 update on the New York Department of Financial Services website (NYDFS), state regulators have approved 8 cryptocurrencies for listing and trading. These tokens include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance USD (BUSD), Gemini Dollar (GUSD), Pax Gold (PAXG), and the Paxos Standard Token (PAX). The NYDFS also greenlighted the same coins for…

Number of Bitcoin Cash Whales Drop Following 39% Price Surge

Following a 39% price surge at the end of July, at least 10 Bitcoin Cash whales have left the network, possibly trading or selling their millions in holdings.  According to Crypto Twitter user Ali Martinez, data from analytics site Santiment shows the number of investors holding between 10,000-100,000 Bitcoin Cash (BCH) — roughly $3-30 million — has fallen by 10 since Aug. 1. The drop comes after the token surged 38.7% from $224.46 on July 17 to a three-month high of $311.34 on July 31, implying that a number of…

Retail Investors are Flooding into Bitcoin as Likelihood of Explosive Rally Grows

Bitcoin’s price has been caught within a strong uptrend throughout the past several weeks, although this momentum is showing some signs of stalling as the cryptocurrency consolidates within the upper-$11,000 region. Analysts are now noting that BTC may soon see a strong uptrend due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide Bitcoin with a strong base to grow upon and is indicated by the number of addresses holding over 1 BTC coupled with BTC’s expanding…

Americans Trade Depreciating Dollars For Bitcoin

A Bloomberg article claims that Americans are foregoing the safety of the dollar for more speculative assets like stocks, gold, and Bitcoin (BTC). High saving rates, low yields Because of the COVID-19 lockdown, the personal savings rate in the U.S. is at a historic high. The yield offered by the financial institutions on savings accounts, however, is close to zero. At the same time, assets as Bitcoin, equities, and gold, all have made double-digit gains since March. This is making them an attractive option for investors. Source: Bloomberg. The article…