Crypto
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Kraken predicts $96K BTC price top as analyst says $1T Bitcoin market cap is ‘now cemented’
Bitcoin (BTC) could nail the now-popular $98,000 price target — but it could end up being the cycle top, new research argues. In its “October 2021 Market Recap & Outlook,” major United States exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run. Copycat Bitcoin may top out below $100,000 With BTC price predictions reaching $300,000, the new analysis from Kraken suggests that if BTC/USD were to copy its 2017 performance, this cycle’s top could end up still being under $100,000. While facing calls for a “worst-case scenario” November closing price of $98,000, it could be that Bitcoin ends up peaking at around that level instead. “At the current pace, 4Q is trending most similarly to 4Q2017 with a correlation of 0.88. It should be noted th...
Blockchain service provider Nansen to integrate Solana data analytics
Blockchain data provider Nansen has announced the planned integration of a Solana dashboard to provide extensive insights to institutional and retail investors seeking to identify emerging trends in networks like the decentralized finance (DeFi) and nonfungible token (NFT) markets. Scheduled to commence in the first quarter of 2022, the Solana function is set to augment an already impressive offering of over 100 million on-chain wallet data points across leading networks such as Ethereum, Polygon, Fantom and Binance Smart Chain. Nansen’s popular features, such as Smart Money, enable investors to recognize investments in emerging DeFi projects across a variety of investor types, while NFT Paradise and Mint Master provide tools to uncover NFT projects gaining traction in the space. Cointeleg...
These publicly traded firms are pulling institutions into crypto
Cryptocurrencies have quickly emerged as one of the hottest investment vehicles of the past decade, gaining traction first from retail traders, as seen in 2017, and now from institutional investors. From being a domain of bedroom coders to a growing financial sector with over $2 trillion in market capitalization, the crypto space has seen a sudden surge in value and continues to attract huge interest from investors. While crypto assets have proven to be valuable, volatility remains a top concern, especially for institutional players. Sure, any investor can buy some cryptocurrencies and profit from their rising value. However, investing in established companies that are involved in the crypto and blockchain business is another way of diversifying and gaining from the overall uptake of...
Crypto sustainability and green solutions highlighted at COP26
Cointelegraph’s Editor-in-Chief, Kristina Cornèr spoke at the United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland, on Tuesday about the positive impact of the cryptocurrency ecosystem on environmental objectives. Arriving in Scotland’s second-largest city following panel hosting duties at Lisbon’s Web Summit last week, Cornèr spoke on a wide range of topics ranging from establishing interoperable relationships between people and technology to the mining impact of Bitcoin (BTC). Commenting on the disparity between the implementation of climate change initiatives between the traditional energy sectors and the crypto community, Cornèr argued that the emergence of new technology provides an opportunity to learn, stating: “Decentralization is an alter...
Social media on the blockchain could be huge, says FTX CEO
Blockchain technology is gaining adoption in various aspects of the global economy, but social media is one area it is yet to penetrate. The CEO of leading cryptocurrency exchange FTX, Sam Bankman-Fried, believes that applying blockchain technology to social media could lead to some huge opportunities. Bankman-Fried made this statement while speaking at Breakpoint in Lisbon. The FTX CEO said; “I think social media on the blockchain — I continue to think this could be absolutely huge. I think it solves a lot of existing pain points, which are really coming to the forefront of society right now.” He added that using blockchain technology would make it possible for people to exchange messages in a secure and private way. However, he believes social media on the blockchain would ne...
Is $70k the next target for Bitcoin after setting a new high at $68k?
Bitcoin has reached a new all-time high above $68k and could rally higher over the coming hours if the market maintains the current momentum. The cryptocurrency market has been performing excellently over the past few hours, with Bitcoin and Ether all reaching new all-time highs. Bitcoin reached a new all-time high of $68,641 per coin, according to the data obtained from Coingecko. The leading cryptocurrency surpassed the previous all-time high of $67,257 after rising by more than 3% over the past 24 hours. At the time of writing, BTC is trading at $68,150, down by 0.7% from the all-time high price it attained a few hours ago. Key levels to watch The BTC/USD 4-hour chart is very bullish at the moment, thanks to the cryptocurrency’s performance over the past few hours. Bitcoin’s MACD line i...
Will Litecoin hit $250 after rallying by more than 16% today?
Litecoin has been struggling to hit the $250 mark in recent weeks but could reach the level after rallying by more than 16% today. The cryptocurrency market cap has hit the $3 trillion mark after numerous coins rallied over the past few days. Litecoin is one of the best-performing cryptocurrencies at the moment, rising by more than 16% over the past 24 hours. Despite its recent rally, Litecoin has struggled to break past the $250 resistance level. At the time of writing, LTC is up by 16.3% and is trading at $244.10 per coin. However, if it maintains the current momentum, then it could rally past the $250 resistance level over the next few hours. Key levels to watch The LTC/USD 4-hour chart is currently bullish, despite being 40% down from its current all-time high price. The technical indi...
Carbon neutral crypto spot ETFs to launch in Canada
Two carbon neutral cryptocurrency-backed exchange-traded funds are poised to launch in Canada offering a greener alternative for institutional investors. Canada-based asset manager Purpose Investments is readying to launch two new crypto-based ETFs on the Toronto Stock Exchange on Nov. 9, both of which offer investors a carbon offset. Purpose will launch their Bitcoin and Ethereum ETFs under the BTCC.J and ETHH.J tickers. Unlike the funds recently launched in the U.S. which are futures contract backed, these funds will be backed and settled using BTC as the underlying asset. Tomorrow @PurposeInvest is launching new share classes for their #Bitcoin and #Ethereum ETFs — $BTCC and $ETHH. They will be “Carbon Offset” share classes and will be denoted “/J”. Pages b...
Matter Labs raises $50M to build EVM-compatible zk-rollups
Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync. On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ $6 million Series A in February, and saw participation from many new investors including Crypto.com, ConsenSys, and OKEx. The new cash injection will be channeled into further developing zkSync v2, the firm’s second-layer rollups solution for Ethereum that is currently focussed on facilitating low-cost payments. Rollups are a second-layer scaling solution that “rolls up” transactions data in batches for more efficient processing on Et...
Synapse Bridge prevents $8M USD hack
Cross-chain protocols are continuing to face challenges, with Synapse Bridge narrowly averting a multi-million exploit. On Nov. 7, Synapse Bridge announced on Discord they had prevented a hacker from draining approximately $8 million USD from the Avalanche Neutral Dollar (nUSD) Metapool. The hacker attempted to exploit a vulnerability using the bridge to transfer assets from Polygon (MATIC) to Avalanche (AVAX). Synapse is a cross-chain bridge designed to facilitate swaps and transfers between a range of layer-one and layer-two protocols using an automated market maker (AMM). Synapse Bridge stated: “Over the past 16 hours, we encountered and discovered a contract bug in the way that the AMM Metapool contracts handle virtual price calculations against the base pool’s virtual price.” As...
Ethereum Name Service’s new token already has a fully-diluted cap of $3.1T
The official announcement on Mirror from ENS states that $ENS will be used to vote on a proposed constitution and govern protocol parameters. The first issues holders can vote on in the new ENS DAO are the price oracle, and how to allocate existing and future community treasury funds. Ethereum wallet users who have created an ENS domain in the past are eligible to claim $ENS from the claims site by May 4, 2022. Unclaimed tokens will be sent to the DAO treasury. An ENS domain maps easy-to-read names that end in .eth (like “alice.eth”) onto Ethereum addresses. One-quarter of the entire $ENS supply was made available to .eth domain holders to claim in total. Each wallet received a varying quantity of $ENS based on how long they’ve held their domain, their expiry date, and whether they have se...
We seek to invest in platforms that can distribute ownership among users: Variant co-founder
Crypto uniquely allows ownership to be distributed widely on emerging platforms In a conversation with Bloomberg’s Emily Chang, Variant Fund co-founder Li Jin stated that the venture investment firm will back projects that are looking to capitalise on the ownership economy. The remarks come weeks after Variant announced the creation of a $110 million fund for cryptocurrency and blockchain-based start-ups. Describing the relevance of the ownership economy, Jin stated that all next-generation internet platforms are going to be built, operated and developed by their users. She believes that projects which are equipped to offer distributed ownership are likely to experience faster and larger growth than those with centralised models. Cryptocurrency uniquely enables such decentralisation by all...
