XRP Forms Crushing Textbook Reversal Sign After 30% Explosion

XRP has seen an extremely strong rally over the past few days, outperforming Bitcoin and even Ethereum on some days. Since July 22nd, the asset has gained in excess of 50%, reaching highs not seen since the February blow-off top. Some analysts see this price action as a precursor to a macro bull run for XRP. While this may be true, the leading altcoin is printing some signs that it will reverse for a few days or weeks, then potentially it may head higher. XRP Could Soon See Reversal: TD…

Read More

‘High Probability’ Bitcoin Rises as USD Sinks to 2008 Levels, Says CEO

The U.S. dollar is at risk of falling below the lower end of a 12-year trendline as some analysts argue that this may be a bullish turning point for Bitcoin’s price. The United States dollar index is currently testing the bottom of a 12-year trendline. But some traders are calling it the “most pivotal moment” for the global reserve currency since 2008, as they believe that continuous depreciation will likely boost the price of Bitcoin (BTC). For over three months since April, the dollar has declined against other reserve currencies. Some investors…

Read More

Samson Mow’s Infinite Fleet Game Raises $3.1M on BnkToTheFuture

Exordium Limited raised more than $3M through sales of its EXO security token for Infinite Fleet from investors including Adam Back and Charlie Lee. Pixelmatic’s Infinite Fleet space adventure game raised more than $3 million within 24 hours from investors including Adam Back and Charlie Lee. According to a statement from Pixelmatic, shared with Cointelegraph, the game created by Blockstream CSO and Pixelmatic CEO Samson Mow raised $3.1 million on global online investment platform BnkToTheFuture through sales of its EXO token. A private funding round led by Litecoin (LTC) creator…

Read More

Scott Melker Recounts How He Fell Victim to a SIM Swap Attack

The ‘Wolf of All Streets’ offers suggestions for how to protect one’s crypto assets and identity after his SIM was compromised in February. Scott Melker, also known as the “Wolf of All Streets,” says he was the victim of a SIM swap attack in February but managed to avoid losing any crypto assets. In a Aug. 4 post on Melker’s website titled Security Tips And Lessons Learned From My Hack, the trader said he was able to protect access to his bank accounts, credit cards, and crypto exchanges after a…

Read More

Crypto Derivatives Set New Records, ETH Futures Set All-Time Highs, CME Open Interest Spikes

Digital currency derivatives have been on fire during the last two weeks as ethereum futures volumes touched an all-time high on Sunday. The popular derivatives trading platform Deribit saw 1.9 million ETH contracts traded and CME Group is now the third-largest exchange in terms of bitcoin futures open interest. Data shows that cryptocurrency futures and options are seeing significant demand in 2020. Statistics from Skew.com, CME Group, The Tie, and Deribit indicate a lot of action has been happening in the land of crypto derivatives. Deribit’s recent newsletter shows that…

Read More

Tensions Flare: Is Bitcoin Cash Headed to Another ‘Catastrophic’ Fork?

Despite tensions flaring among Bitcoin Cash developers over the protocol’s difficulty algorithm, another chain split seems unlikely. The Bitcoin Cash (BCH) community is divided over whether to change the cryptocurrency’s difficulty adjustment algorithm, with a recent developer meeting reportedly concluding with attendees storming out of the event. On August 4, Chris Pacia, the lead developer of the peer-to-peer marketplace OpenBazaar and a volunteer BCH developer, tweeted that “multiple people walk[ed] out” of the meeting as consensus was not reached over whether to make adjustments to Bitcoin Cash’s difficulty algorithm. Ethereum…

Read More

100% of Chainlink Addresses Are Currently in Profit

Chainlink’s bull run has created an abnormal situation where its entire supply is currently profitable according to an intelligence firm IntoTheBlock. The recent Chainlink (LINK) rally has led to some unconventional results — 100% of its supply is “in the money” or profitable. This metric simply represents a comparison between the asset’s current price and the price at which it was acquired. If the current price is higher, then it is “in the money”, if it is lower, then it is “out of the money”, and if it is the…

Read More

Opyn Removes Liquidity From Uniswap After $370K Stolen in DeFi Exploit

Attackers exploited a Uniswap trading loophole to get away with more than $370K. Attackers have exploited a vulnerability in the Opyn ETH Put contract to walk away with more than $370,000. One of the first members of Crypto Twitter to report on the theft, DegenSpartan, stated on Aug. 4 that the traders used flash loans to buy Ethereum Put oTokens (oETH) from Uniswap. They then reportedly chose an ERC20 token — in this case, USD Coin (USDC) — as collateral and exercised the trading option.  The result was reportedly a…

Read More

This Newly Formed Structure Could Cause Bitcoin to See Major Losses

Bitcoin and the aggregated cryptocurrency market are currently in a precarious position following the series of strong rejections seen yesterday evening The selling pressure incurred as a result of these rejections has not yet been enough to force BTC or other assets below their crucial support levels That being said, analysts are growing increasingly cautious on BTC’s near-term outlook One trader explained that a recently emerged technical pattern seems to indicate downside is imminent It is important to note that there is one fundamental development that could invalidate this pattern…

Read More

Here’s Why Traders are Growing Cautious About Ethereum’s Uptrend

Ethereum has witnessed some incredibly mixed price action throughout the past few weeks After rallying up to highs of $415, it has been struggling to recapture this momentum as it largely trades below $400 Yesterday, ETH bulls pushed it to this key level before facing a massive influx of selling pressure that forced it lower It is now trading around its daily lows as bulls struggle to gain further momentum This has led one analyst to note that further downside could be imminent in the near-term Ethereum has seen some…

Read More