There’s “Only Air” From Here to $20,000 For the Bitcoin Price: Analyst

Bitcoin has begun to consolidate after its explosive breakout on Monday. Over the past 48 hours, the leading cryptocurrency has jumped between $10,800 and $11,300, attempting to establish a short-term range. Some fear that this is a sign that the market is reaching a top. After all, Bitcoin failed to pass $11,500 in the recent rally while funding rates have reached extremely high levels. Yet an analyst is convinced that on a macro scale, there’s only “air” from here to $20,000. That’s to say, Bitcoin rallying to $20,000 in the…

BitFlyer and Brave’s New Partnership to Finally Let Japanese Users Earn BAT

Japanese users will soon be able to earn Basic Attention Token (BAT) by viewing Brave ads.  On July 30, major Japanese cryptocurrency exchange BitFlyer partnered with Brave Software International SEZC, a subsidiary of Brave Software — the maker of the crypto-enabled browser Brave. Within the partnership, the firms co-developed a crypto asset wallet in the Brave browser that allows Japanese users to receive BAT for viewing Brave ads. Japanese Brave users will also be able to buy or sell BAT on BitFlyer as well as tip BAT to publishers and…

Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Demand Rising

As July comes to a close, the amount of Bitcoin (BTC) held by major cryptocurrency exchanges has reached its lowest level since late May 2019. At that time, Bitcoin’s price was around $8,000 before continuing toward its 2019 high of $12,967 on July 11, 2019.  Roughly 10% of Bitcoin held by exchanges The Bitcoin balance held by major exchanges has been dropping significantly since mid-March 2020 following the Black Thursday crash on March 12 and subsequent recovery.  There are 2.64 million BTC collectively held on exchanges as of July 29,…

Ethereum Is the Best-Performing Asset Class of 2020

The average performance across Ethereum (ETH)-based assets has been a nearly 130% year-to-date (YTD) gain, according to data published by market data aggregator Messari. The data provides an overview of the 178 assets that currently exist on Ethereum, totaling a combined market capitalization of $63.7 billion — just shy of 20% of the entire crypto capitalization. Including stablecoins, 124 of the assets have posted a YTD gain, meaning that 70% of Ethereum-based tokens have increased in value despite the shocks felt across the global economy amid the COVID-19 pandemic. 70%…

Ethereum Above $325 Could Trigger A Fresh Rally Towards $350

Ethereum is currently consolidating gains above the $307 and $310 support levels against the US Dollar. ETH price must surpass the $325 resistance zone to trigger a fresh rally. Ethereum is holding a couple of important supports above the $307 and $310 levels. The price is facing a crucial resistance near the $322 and $325 levels, but it is above the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $321 on the hourly chart of ETH/USD (data feed via Kraken). The pair must…

Theta Partners With Korean Gaming Platform to Reward Its 3M Users

The crypto-powered Esports streaming platform Theta has partnered with South Korean social gaming platform Ludena Protocol to reward its gamers for viewing or streaming content. The partnership will see Theta protocol integrated into GameTalkTalk, Ludena’s first decentralized application (DApp) — allowing the gaming-centric social platform’s more than three million users to access Theta’s streaming services through the platform. Ludena’s users will be rewarded for engagement in the form of Theta’s TFUEL token. Theta TV to integrate GameTalkTalk The agreement will see an exclusive GameTalkTalk channel added to Theta’s streaming platform,…

Ripple (XRP) Consolidating Gains: Here’s What Could Trigger Another Rally

Ripple extended its upward move towards the $0.2500 resistance against the US Dollar. XRP price is currently consolidating gains above $0.2400 and it might start another increase. Ripple gained bullish momentum above the $0.2400 and $0.2420 resistance levels against the US dollar. The price traded to a new monthly high at $0.2500 and settled well above the 100 hourly SMA. There is a key connecting bullish trend line forming with support near $0.2380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is consolidating gains…

Iranian Authorities Greenlight Power Plants Mining Bitcoin

Iran has announced that it will now allow industrial-scale power plants in the country to operate as Bitcoin miners —- provided they don’t use subsidized fuel. In a statement to the Islamic Republic News Agency (IRNA) on July 27, Mostafa Rajabi Mashhadi, a Deputy Managing Director at Tavanir, Iran’s Power Generation, Transmission and Distribution Management Company, said power plants in the country could operate as Bitcoin mines “if they comply with approved tariffs” and have the necessary licenses. Mashhadi said that any power plant considering such a venture could not…

Curve’s Daily Volume Increases 50x in Two Months

Decentralized finance (DeFi) liquidity pools continue to surge in popularity, with the Curve Finance decentralized exchange (DEX) consistently hosting more than $60 million in daily volume for the first time this past week, according to Dune Analytics. With daily volume closer to $1 million at the start of June, the explosive hype surrounding yield farming propelled an increase in trade activity of more than 50 times in just two months. Curve daily trade volume: Dune Analytics Curve’s growth has seen the platform emerge as the second-largest decentralized exchange by trade…

Can Bulls Save The Day?

Bitcoin is struggling to stay above the $11,200 resistance level against the US Dollar. BTC is currently correcting lower and it could continue to move down towards $10,700. Bitcoin is slowly moving lower after forming an intraday high near the $11,349 level. A couple of back-to-back candles suggest that the price might continue lower towards $10,700. There was a break below a key bullish trend line with support near $11,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $10,700 support…