Crypto

The launch of ETH2 staking service Rocket Pool saw it hit its stage two cap in just 45 seconds according to the co-founder of hosting partner Allnodes Konstantin Boyko-Romanovsky. In its first two days of operations, Rocket Pool has registered 237 node operators across 42 global locations, with 1088 ETH staked. According to an announcement the platform now has Total Value Locked of 4000 ETH ($13.9 million USD) in value, including collateral from the platform’s Rocket Pool (RPL) token.          Rocket Pool aims to become the “primary staking infrastructure for Ethereum, by providing a decentralized, easy to use staking network for individuals and businesses,” according to the whitepaper. The protocol is progressively rolling out over four weeks. During the stage one...

Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs. $BITO and $BTF both had their biggest volume days in about two weeks. $BITO with a $400m traded, which is not only a ton but = 25% turnover in one day- indicating its usage as a trading tool. pic.twitter.com/ukDGeSEa6F — Eric Balchunas (@EricBalchunas) November 10, 2021 BITO has seen roughly $112.79 million combined inflows over the past nine days. While the figure pales i...

Tesla CEO Elon Musk has offloaded more than one billion dollars worth of shares according to recent financial filings.  Filings submitted on Nov. 11 to the Securities and Exchange Commission confirm the sale of more than 934,000 Tesla shares worth around $1.1 billion. Musk sold the shares at an average price of around $1,170, locking in almost 180% in gains in prices over the past year. It is just the third time Musk has sold company stock since Tesla went public on the Nasdaq in 2010, and it is his largest transaction. The filings show that Musk planned to sell the stock as part of his tax obligations back in September. He polled his 63 million followers at the weekend, asking whether he should sell 10% of his Tesla holdings. Of the 3.5 million respondents, almost 58% said yes. Howev...

Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top. Daily cryptocurrency market performance. Source: Coin360 Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another positive is that investors continue to withdraw coins from centralized exchanges whose share of supply has dropped to a new record lo...

On Monday, distributed domain protocol Ethereum Name Service, or ENS, launched its own governance token in an effort to distribute voting rights for its new decentralized autonomous organization, or DAO, to active users of the ecosystem. Cointelegraph spoke with Brantly Millegan, ENS’ director of operations, to learn more about the nonprofit’s decision to shift to a DAO model and his thoughts on the power of the ENS community: “ENS is an open public protocol. The core components of ENS are decentralized and self-running (e.g., no one can take away another person’s .ETH name), but there are a few things that require some human discretion.” He noted that previously, ENS was controlled by a four-of-seven multisignature scheme, with members of related projects acting as keyholders. They facili...

Every time a new Bitcoin (BTC) all-time high is formed, excessive expectations follow. This time was no different as its price briefly touched $69,000 in the early hours of Nov. 9.  Bitcoin 8h, we got our November 9th historical correction, seems to be very minor for now. Naturally I expect at bigger correction after we hit the 84k region, and then into blast off.$BTC #Crypto #Bitcoin pic.twitter.com/cfbBkOIFEK — Miles J Creative (@JohalMiles) November 9, 2021 Words are just words, so there’s no loss from being excessively bullish or bearish, but in options markets there’s a cost for placing those bets. For example, on Nov. 10, a right to buy Bitcoin (call option) at $100,000 on Dec. 31 is trading at BTC 0.022, or $1,460. For this privilege, the investor pays an upfront fee, which is ...

Now responsible for the second-largest contribution to the Bitcoin hash rate, Kazakhstan’s energy grid may be unprepared to handle the addition of many cryptocurrency miners from China and others looking to capitalize on low-cost electricity. In a Wednesday report from Reuters, government officials in Kazakhstan estimate that unregistered crypto miners in the country could be consuming twice as much power as those registered to avoid paying taxes and other fees. Together, all crypto miners in the country could be using as much as 1.2 gigawatts, or roughly 8% of Kazakhstan’s total power generation capacity. According to Murat Zhurebekov, Kazakhstan’s vice minister of energy, addressing the potential strain on the nation’s power grid “cannot be delayed any longer.” He said ...

Zimbabwe’s minister of information publicly dismissed ongoing rumors about the country considering the adoption of cryptocurrencies and Bitcoin (BTC). Rather, Minister Monica Mutsvangwa clarified that the government of Zimbabwe is keen to experiment with a central banking digital currency (CBDC). The rumor about Zimbabwe’s crypto adoption was sparked based on numerous reports quoting Charles Wekwete, permanent secretary of the president’s office, saying that the government was in talks with private sector businesses to help introduce cryptocurrency in the country. Just one day after the reports, Mutsvangwa took to a cabinet briefing to dismiss the ongoing crypto adoption claims: “Government would like to assure the nation that it is not considering introducing another currency in the ...

Bitcoin (BTC) remains bullish but has “one more leg down” to complete before a resurgence, one trader argues. In an analysis on Nov. 10, popular Twitter account Crypto Ed said that the pullback from this week’s all-time highs above $68,500 was turning out to be deeper than anticipated. Target $65,000 for Bitcoin “Going a bit deeper as I was expecting yesterday. Looks like it will do 1 more leg down to complete that ABC,” he said alongside a forecast price trajectory chart. “Lines up with 2nd chart: taking out those lows and retest support. When bounce, going for 70k.” BTC/USD could thus fall to as low as $65,000 in the short term, marking retention of April’s old highs as support.  BTC/USD price scenario. Source: Crypto Ed/Twitter Others framed Monday’s record as a record slump f...