The growth of decentralized exchanges in 2020 has been phenomenal, but there is a hard ceiling with current technology. Decentralized exchanges, also known as DEXs, have risen significantly in popularity since the start of 2020, with both their user bases and volumes growing at an accelerating pace. The sector is currently being driven by so-called…
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Check out this week’s Bad Crypto podcast. Stability? What stability? Bitcoin has burst through its ceiling, leapt 15% and is now tickling a new ceiling of $11,000. The new move has put Bitcoin’s actual price at around double the realized price. On Black Thursday, the realized price was higher than the actual price. So how…
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Bitcoin balances on major exchanges drop to levels not seen since last summer’s bull run as demand and BTC price are on the rise. 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…
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On-chain exchange activity exploded during Bitcoin’s recent breakout, seemingly confirming the legitimacy of the price momentum. Bitcoin’s (BTC) recent breakout was accompanied by a massive spike in on-chain exchange volume activity, according to data from Glassnode. On-Chain exchange activity. Source: Glassnode. Unlike regular trading volume that is often artificially inflated by the exchanges, on-chain activity…
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Binance Smart Chain will integrate Chainlink data oracles to add usability to its blockchain, in particular, in the burgeoning DeFi space. Binance Smart Chain — a dual-chain architecture from major crypto exchange Binance — is now integrating Chainlink (LINK) data oracles. Binance Smart Chain adds smart contracts to the exchange’s original chain, Binance Chain, and…
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A report from Flipside Crypto contends that investors are dumping Compound tokens as soon as it gets listed on exchanges with the majority of the supply held by speculators. A report by Flipside Crypto states that investors are liquidating their Compound (COMP) holdings as soon as the opportunity presents itself; with major exchange listings acting…
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Traders return coins to exchanges as Bitcoin moves lower, with CryptoQuant expecting a “small” retracement below $9,000. Bitcoin edging ever closer to a $9,000 support level may lead to a major sell-off by exchange users, one analyst warns. According to data from on-chain analytics resource CryptoQuant, inflows of Bitcoin (BTC) to exchanges spiked on July 15. Kraken…
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A researcher suggested that exchanges could “rollback” hacks by renting mining power from online marketplaces. Speaking at Unitize virtual event, Coin Metrics researcher Lucas Nuzzi suggested that one way for exchanges to fight back against the hackers is by renting mining power from online marketplaces. 6 confirmations ticking countdown Nuzzi conjectured that an exchange which…
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11.4 million Bitcoin is held by long term investors, diminishing the tradeable supply to only 20% of the total Bitcoin supply. According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians. Breakdown of Bitcoin supply. Source: Chainalysis. Digital gold The company concluded that the…
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The last time this much Bitcoin was withdrawn from exchanges, the price rose 88%. If this pattern repeats, we would see Bitcoin go to $18,000 by the end of August. On June 8, 27,000 more Bitcoin (BTC) was withdrawn from exchanges than was deposited. The last time there was such a significant outflow, Bitcoin appreciated by 88%. The…
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