XRP Has Been in a Macro Downtrend For Almost 1,000 Days: Analyst

From the lows made in March, XRP is up by over 50%, trading at $0.18 as of this article’s writing. Yet this bounce has not convinced analysts that the cryptocurrency is back in a bull market. In fact, one trader recently noted that soon enough, the third-largest altcoin will have been in a macro bear market for over 1,000 days. XRP Is in a Macro Downtrend And Has Been for Almost 1,000 Days It’s been a tough past few years for XRP. Despite medium-term rallies in the entire cryptocurrency market,…

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Wirecard: Crypto Card Users’ Funds Locked as UK Regulator Suspends Subsidiary

UK Financial Conduct Authority (FCA) on Friday suspended the license of Wirecard Card Solutions (WCS), a unit of troubled Wirecard AG, which is responsible for issuing Visa cryptocurrency debit cards. It means some users of cards such as Crypto.com’s Mco visa debit card and Tenx’s visa debit card may not be able to access their funds for a time. Both the crypto-enabled cards are issued by the Newcastle-based WCS. FCA said Wirecard Card Solutions “is no longer permitted to conduct any regulated activities” and “must not dispose of any assets…

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53% of Bitcoin Options Just Expired, Marking a Historic Milestone

Bitcoin and Ethereum just saw their largest respective options expiry ever, marking a major milestone for the cryptocurrency market This expiry took place earlier today and it did not coincide with any intense volatility, despite what some analyst had forecasted It now appears that the volatility associated with this event did occur earlier this week It is possible that the options expiry, and investors’ anticipations about it, helped fuel the recent Bitcoin decline to lows of under $9,000 Bitcoin just saw its largest options expiry ever. This marks a major milestone…

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Investors Fear Ethereum Price Sell-Off After PlusToken Transfers 789K ETH

PlusToken recently moved $186 million worth of Ethereum, leading investors to fear a dump in ETH price. Earlier this week PlusToken, one of the largest scams in the cryptocurrency world, tried to move 789,500 Ether (ETH), but the movement of these stolen funds were temporarily held up by congestion issues within the Ethereum network. The $186 million transfer came from a known Ethereum address and was later split into 50 different transactions, possibly as an attempt to disguise the activity. Whale Alert first spotted the transactions which have since been…

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Yield Farming Pool Concept May Solidify Ethereum’s Role as BTC’s Main Sidechain

Decentralized finance (defi) applications on the Ethereum chain have been growing wildly during the last two years. Now a number of synthetic versions of bitcoin, that leverage the Ethereum chain, has outpaced offchain solutions like Blockstream’s Liquid and the Lightning Network. Just recently, the platform Synthetix revealed a partnership with Bitgo and the Ren Project in order to create incentivized bitcoin liquidity. Now with a massive yield farming pool, tokens like sBTC, renBTC, and WBTC could easily eclipse the alternative offchain competitors. At the end of May, news.Bitcoin.com reported on…

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Crypto Cards Affected as UK Regulator Suspends Wirecard Subsidiary

Wirecard’s subsidiary that is responsible for issuing debit cards has been suspended as the company can no longer access customer funds. Wirecard’s subsidiary responsible for issuing debit cards, Wirecard Card Solutions Ltd., has been suspended by the United Kingdom’s Financial Conduct Authority, or FCA. According to a statement issued on June 26 by the regulator, Wirecard’s subsidiary is required to not dispose of any of its funds, stop conducting any of its regulated activity, and it must communicate on its website and to its customers that it is no longer…

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Telegram’s Courtroom Saga With the SEC Comes to a $1.2 Billion End

Judge approves final judgment in Telegram case; firm will return $1.2 billion to investors. On June 26, Judge Kevin Castel signed the final judgment in the SEC v. Telegram case, which will require Telegram pay back $1.2 billion to investors in their ICO for the failed Telegram Open Network.  Cointelegraph reported on the final judgment proposed yesterday. What has changed is the approval of the court, putting an end to a legal drama that began with the SEC ordering a stop to Telegram’s impending distribution of GRAM tokens.  Per the…

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Even Putin Couldn’t Save This Dark Web Mastermind From Prison

Even Vladimir Putin was not able to save this Dark Web mastermind who ran an elite invite-only cybercrime club. A Russian hacker was sentenced to nine years in prison by a U.S. court on June 26. The hacker, Aleksei Burkov, was previously considered to be of personal interest by Russian President, Vladimir Putin. Exclusive cybercrime with premium $5k membership fee Burkov was accused of running a website called “Cardplanet” which sold payment card information: “Many of the card numbers offered for sale belonged to U.S. citizens. The stolen credit card…

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The Simple Reasons Why This Trader is Cautious of Ethereum

Ethereum, like Bitcoin, is currently trading at the lower boundary of its long-established trading range The cryptocurrency does appear to be positioned to see a breakdown below this range, but whether or not this takes place will likely depend on Bitcoin One analyst is now growing increasingly cautious on ETH, explaining that massive spikes in miner outflows for the cryptocurrency signal that a large drop could be imminent This also comes as the China-based PlusToken Ponzi scheme begins growing increasingly active On-chain data shows that they just recently moved nearly…

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Bloomberg: ‘Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance’

According to Bloomberg, the narrowest ever bollinger bands suggest that Bitcoin is consolidating for a major breakout. Bloomberg remains optimistic about Bitcoin (BTC) as long as it stays above a key resistance level. Bitcoin Bollinger Bands. Source: Bloomberg The latest report by Bloomberg analyst, Mike McGlone, contends that Bitcoin is consolidating. He speculates that due to the decreasing volatility, Bitcoin price Bollinger Bands are at its lowest point ever. $6,500 — $13,000 critical range In his opinion, Bitcoin is priming to break out of the upper resistance level of $13,000.…

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