Crypto

Bitcoin (BTC) has been trading in a descending channel pattern since its $67,000 all-time high on Oct. 20, which was just one day after ProShares’ Bitcoin Strategy ETF (BITO) debuted at Nasdaq. However, bulls have a sufficient number of incentives to peg Bitcoin’s price above $60,000 on Oct. 29 when the $3.2 billion monthly options expiry settles. Bitcoin price in USD at Coinbase. Source: TradingView Currently, investors are displaying mixed feelings about the exchange-traded fund’s approval, even though it reached $1 billion in assets under management in 48 hours. Either market expectations for these funds were insanely high, or the 42% gain in October until Oct. 19 was previously priced into the event. The regulatory uncertainty in the United States is also a decisive factor in kee...

Bitcoin (BTC) has dipped below $60,000 — but BTC price action is still mimicking the eye-popping 2017 bull run. The latest data covering Bitcoin’s current halving cycle versus its previous one shows just how similar 2017 and 2021 really are. Bitcoin prints more eerie 2017similarities Bitcoin has had its ups and downs this year, but as Cointelegraph reported, BTC/USD has all but copy-pasted its 2017 fractal all along. Fresh analysis delivers the same conclusion — and for those concerned about Oct. 27’s drop to $58,000, even this is nothing new. Astonishingly, the dates of price phenomena in September and October 2021 practically match 2017. Popular Twitter account Smart Crypto, which noticed the trend, called for an “explosion” in time for 2022. BTC/USD comparison chart. Source: Smart Crypt...

Artist collaborations are an undeniable cornerstone of modern pop culture. The confluence of creative minds ultimately captured in a single artwork is something that has perpetually aroused audiences, critics and the creative community.  Take “The Marilyn Diptych,” by American pop art pioneer Andy Warhol. The iconic art piece is based on a publicity photograph of Marilyn Monroe for the 1953 noir thriller Niagara. Regardless of the actress’ undeniable appeal, the photo itself didn’t stand out until Warhol put a spin on it, turning it into one of the 20th century’s most admired masterpieces. But is that enough of an argument to justify the fact that the photographer or studio behind the original derived no profits from the painting? After all, it was their photo — not Andy’s. Whil...

Decentralized lending platform Cream Finance appears to have suffered a severe exploit on Wednesday, with an attacker stealing over $100 million worth of funds through a large flash loan attack.  Blockchain data analytics company PeckShield first identified the flash loan on Wednesday. The compromised funds were mainly Cream liquidity provider tokens, as well as other Ethereum-based tokens. #FlashLoanAlert https://t.co/XzAvHqoINN — PeckShield Inc. (@peckshield) October 27, 2021 During a flash loan attack, an attacker exploits vulnerable smart contracts in order to create their own arbitrage opportunity. Typically, this is done by modifying the relative value of a trading pair by flooding the contract using their loaned tokens. Cream Finance has been routinely targeted by attackers, as...

There’s no denying that over the past couple of years, the narrative that Bitcoin (BTC) consumes too much power has continued to garner an increasing amount of mainstream traction. However, what sometimes gets ignored is that in recent months, an increasing number of Bitcoin miners have moved toward the use of power sources driven primarily by renewable energy. To expound further on the subject, it should be noted that a number of studies, including one that was released recently by Cambridge University, revealed that more than 75% of all miners operating today make use of renewable sources to power their day-to-day operations. In this regard, MintGreen, a Canada-based cleantech cryptocurrency miner, recently announced that it had entered into an agreement with Lonsdale Energy Corporation ...

The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains. Under local law Act 22, those who live in Puerto Rico for at least half of the year are exempt from taxes on interest, dividends and capital gains — meaning they can keep most or all of the profits from crypto or other investments without having to renounce U.S. residency. The popularity of the territory as crypto tax haven was highlighted when news stories emerged that Frances Haugen, the Facebooks whistleblower, had moved to Puerto Rico in March. But it’s been a haven for crypto people for years, including Bitcoin billionaire Puerto Rico who owns a nine bedroom...

Financial services multinational Citi initiated coverage of U.S. crypto exchange Coinbase’s stock this week with a very bullish price target. Citi analyst Peter Christiansen told investors that they could “buy crypto’s general store,” in a research note published on Tuesday, Oct. 26. Citi has given COIN a bullish price target of $415 which is substantially higher than Monday’s closing price of $319. The analyst stated that the stock offers investors “direct exposure to increased retail and institutional adoption of cryptocurrencies.” The multinational banking giant sees the potential in Coinbase as the company makes continued efforts to expand its operations beyond just a crypto exchange and into other areas such as NFTs and cold wallet storage. The company accrued more than a million appl...

GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform. The firm’s GME stock is a cult favorite amongst retail traders as a result of the r/wallstreetbets and Robinhood saga earlier this year. On Reddit the r/Superstonk community boasts 659,000 members, and is dedicated to hosting business and stock discussions related to GME. A post about GameStop’s job listings yesterday has received more than 10,000 upvotes at the time of writing, with many members posting bullish sentiments over GameStop’s latest move. GameStop quietly unveiled a bare-bones website for its NFT marketplace in May. The site currently features a Nintendo Gameboy-style gaming console with an Ethereum logo, along with a message calling out for recruits to work on the pl...

Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bites into major buy wal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15. The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base. Analysts, as Cointelegraph reported, were already prepared, with some data suggesting a deeper dive to a low as $50,000 would still preserve the overall bull trend. #Bitcoin couldn’t break through $63.6K and tests the other side of the range. Might be dropping another time if $61.6K can’t break and then I’m looking at $58K next...

Cryptocurrency exchange FTX has grown its presence in the sporting world over the past few months with numerous sponsorships. FTX, one of the fastest-growing crypto exchanges in the world, has bought an advertisement slot in one of the most-watched sporting events in the United States. The cryptocurrency’s advert will be shown at the championship game of the National Football League, which will take place in February 2022. Bloomberg reported that FTX bought an ad in this year’s Super Bowl LVI as it seeks to reach a wider audience and promote its cryptocurrency exchange business. FTX has been growing its audience via many avenues, including sports. Over the past few months, the digital asset exchange has partnered with numerous sporting institutions, including Major League Baseball (MLB). T...