Crypto Guides, Knowledge & Insights

Bitcoin Hits the $20K Mark as Whales Proceed to Amass Tokens

During intraday trade, the top cryptocurrency increased by 7.77% over the previous seven days to reach $20,154, per the CoinMarketCap. 　　Bitcoin whales on a spending binge based on increased accumulation are driving the upward momentum. Santiment, a source of market information, stated:　　“Bitcoin whales are showing signs of sustained accumulation, which has been a rarity in 2022. Since September 27th, addresses holding 100 to 10k BTC have collectively added back 46,173 BTC back to their wallets as large USDT holdings have dropped.”　　The continuous hodling behavior that whales on the Bitcoin network are exhibiting can also be observed in the fact that more coins have been leaving cryptocurrency trading.　　“Bitcoin continues to see its supply moving away from exchanges as traders show further signs of being content with their current holdings. With less than 9% of BTC on exchanges for the first time since 2018, it is a good bode of confidence for bulls.”　　Coins are transferred to digital wallets or cold storage for purposes other than speculative use after leaving bitcoin exchanges, which typically reflects a hodling culture. The fact that it reduces selling pressure makes it a bullish indicator. 　　Because more than 42 million addresses still hold BTC in spite of the

2022-10-06Deep Dive

Avoid Crypto Rocket, an Unregulated FX Broker.

If you want to make money on the Forex market, trading with Crypto Rocket is not advised. This broker is unregulated, has had numerous negative evaluations, and has even received a warning. Well explain what Crypto Rocket looks like in real life in this section.　　Not regulated, but cautioned　　On its page, scammer Crypto Rocket merely provides a Saint Vincent and the Grenadines address without mentioning any regulatory information. We thus performed a company name search with the S.t. Vincent and the Grenadines Financial Services Authority (SVG FSA) using the company name CryptoRocket Limited and discovered that it was an SVG-registered business. But a well-known offshore registration is the SVG FSA. It doesnt control forex transactions or grant forex licenses. Registration therefore does not entail regulation.　　More crucially, the Comisión Nacional del Mercado de Valores in Spain has issued a warning about the scam (CNMV).　　Dangerous Leverage　　Because most regulators place severe leverage limitations on brokers in accordance with national regulations, Crypto Rockets assertion that it can offer high leverage of up to 1:500 is another way of suggesting that scammers are not subject to top authorities oversight. The maximum leverage a broker subject to FCA regulation may provide is 1:30. As high-risk leverage like

2022-10-05Deep Dive

Michael Saylor claims that Bitcoin is "100 times better than gold."

The bull in the cryptocurrency market not only believes that Bitcoin will return to its former glory but also believes that the leading cryptocurrency has a lot of potential to increase beyond its present trading level.　　Saylor sees Bitcoin as the next major “store of value asset” and thinks it is 100 times better than gold. Although the event was initially reported on Saturday, September 24, the CEO made the remarks during the Money Festival, which was hosted by MarketWatch on Wednesday. “I believe that Bitcoins next natural step will be to displace gold as a non-sovereign store of value asset. At the moment, gold is a $10 trillion asset. Bitcoin is 100 times better than gold,” according to Saylor.　　Saylor did not hold back while making his prognosis that the price of the cryptocurrency may approach $500,000 within the next ten years during the festivals Best New Ideas session, “You cant inflate it. The half-life of money in Bitcoin is forever. You can move it on billions of computers at the speed of light. So, if Bitcoin goes to the value of gold, its going to $500,000 a coin, and I think that will happen this decade.” the executive said. 　　According

2022-10-05Deep Dive

Co-founder of Celsius Daniel Leon has resigned.

In a statement provided to Bloomberg News on Tuesday, the cryptocurrency lender that went into bankruptcy previously this year said, “We confirm that Daniel Leon resigned from his role at Celsius and is no longer part of the group.”　　His departure comes a week after Alex Mashinsky, the companys CEO, turned in his letter of resignation.　　The companys Special Committee of the Board of Directors received the resignation letter, according to a press release from the organization.　　“Please accept my resignation as CEO of Celsius Network Ltd, as well as my directorships and other positions at each of its direct and indirect subsidiaries, with the exception of my director position at Celsius Network Ltd., effective immediately.” Mashinsky wrote in his letter of resignation.　　Lior Koren, formerly the businesss worldwide tax director, is now in charge and based in Israel, according to CNBC, which cited an internal email.　　Following the ambiguity of hundreds of investors, Celsius declared bankruptcy. Prior to the decline in cryptocurrency values, the corporation had placed dangerous bets. The business revealed a $1.19 billion deficit in July.　　The design of Celsius business strategy was intended to compete with conventional banks. It made it possible for users to invest in their cryptocurrency and earn interest

2022-10-05Deep Dive

By the end of 2022, BitMEX will introduce its platform token BMEX.

At the Token2049 conference in Singapore, BitMEX CEO Alexander Hoeptner made the announcement in an interview. 　　It was originally planned to launch BMEX, a P2P trading platform for crypto-products, earlier. Nevertheless, BitMEX chose to delay the debut of BMEX due to the unfavorable market conditions at the time. By doing this, BitMEX wanted to allow BMEX to begin in a situation where investors would have the best opportunity of making a profit.　　Despite being prepared to list BMEX, the firm stated in a July release that the current market conditions were not optimal. As a result, the company wanted to list the token in a setting where it would have the greatest shot of rewarding its investors.　　　　Before analyzing the exact BMEX token listing time, the team would consider if there would be another “big drop” in the future, according to Alexander Höptner. 　　Platform currency is the digital money created by the platform itself, just like other exchange tokens like BNB of the Binance exchange and FTT of the FTX exchange.　　Comparatively to conventional assets like Bitcoin, platform money offers a wider range of value support. There are numerous application scenarios depending on the exchanges equity, including its transaction and circulation value.　　Owners of

2022-10-04Deep Dive

Since May, cryptocurrency exchange volumes have increased, reaching $733 billion in September.

The performance of the cryptocurrency market in the first half of the year fell short of expectations, with large declines in spot and derivatives trading volumes across the major exchanges. 　　According to data gathered by CryptoCompare, as bitcoin prices fell, cryptocurrency spot trade volumes dropped roughly 28% in June to $1.41 trillion, the lowest level since December 2020.　　According to The Blocks reasonable trade volume indicator, June saw $629 billion, July saw $633 billion, and August saw $630 billion.　　Fairlead Strategies co-founder Katie Stockton stated:　　“Given investor attitude in cyclical bad markets, volumes have decreased; as a result, it is anticipated that volumes will be below average until cryptocurrency prices exit the current cycle, which may not happen for a few months.”　　Recently, Bitcoin (BTC) has been bouncing around $19,000. CryptoQuant observed that over the past three days, more than 60,000 Bitcoins have left exchanges, the largest number in months, signaling that interest is returning to the sector. The same information was released by Santiment, which also noted that investors are probably optimistic about the fourth quarter.　　According to CryptoQuant data, the highest outflow of bitcoins in recent months occurred in the last three days as 61,301 bitcoins left exchanges. After months of falls, “this

2022-10-04Deep Dive

The Number of Bitcoin ATMs Installed Slowed Significantly in September

Data obtained from CoinATMRadar shows that the number of ATMs deployed decreased from 38,776 in August to 37,980 in September. A decline of -2.05% occurred as a result of the removal of 796 ATMs from the global network. 　　Numerous variables, including market uncertainty and tensions from various geopolitical countries, can be blamed for the abrupt decline in Bitcoin ATM installations.　　A user can use cash or a debit card to purchase Bitcoin and other cryptocurrencies at a bitcoin ATM. You can purchase and sell bitcoin for cash using some Bitcoin ATMs two-way capability. 　　In some instances, Bitcoin ATM providers demand that customers have an active account in order to use the machine. One of the easiest to see indicators of how the ecosystem of digital currencies is developing is the presence of bitcoin ATMs.　　　　Installed Bitcoin ATMs in Various Locations　　According to information obtained from CoinATMRadar, as of May 18, 2020, there were 5,888 crypto ATM locations in the United States alone, with 736 of those being concentrated in the Los Angeles region and 946 in Washington, DC. This number includes additional coins like Bitcoin Cash (BCH). Litecoin (LTC), Dash (DASH), and Ethereum (ETH) (DASH).　　Additionally, there are now roughly 15 bitcoin ATMs spread

2022-10-04Deep Dive

Germany's Deutsche Telekom Launches Support for Staking and an Ethereum Validator Node

In accordance with the German business, its T-Systems Multimedia Solutions (MMS) subsidiary is partnering with a liquid Ethereum 2.0 staking service and DAO StakeWise to host a staking pool that permits individuals to participate in recording data without being required to operate their own validators. Additionally, Deutsche Telekom takes part in StakeWises decentralized autonomous organizations governance (DAO). 　　“As a node operator, our introduction into liquid staking and the close engagement with a DAO is a first for Deutsche Telekom,” said Dirk Röder, Head of the Blockchain Solutions Center at T-Systems MMS, in a statement.　　Because it saves users the time and effort of being required to set up their own validator node, like other similar programs like Lido, Deutsche Telekom expects that users will be attracted to liquid staking through its new service. Furthermore, liquid staking is less costly than standard Ethereum staking, which demands for users to establish their own node and commit a minimum of 32 ETHs, or about $43,338 at the current pricing, in order to engage in staking activities.　　Deutsche Telekom has been actively involved in the cryptocurrency industry. By investing in Celo, a blockchain startup with offices in San Francisco that offers cryptocurrencies on mobile networks, the

2022-10-03Deep Dive

US CFTC Files Charges Against Digitex for Trading and Registration Violations

The CTFC accused Todd of employing a number of company organizations, including Digitex LLC, Digitex Ltd., Digitex Software Ltd., and Blockster Holdings Ltd., in its complaint, which was filed with the commission and made public on Friday in the Southern District of Florida. Corp., - to operate a fraudulent cryptocurrency derivatives trading business. 　　Conforming to the watchdog, Digitex Futures Exchange fulfilled the requirements for a certified contract market or international board of trade but did not register as a futures commission merchant with the CTFC, infringing CEA regulations.　　In breach of the Bank Secrecy Act, which carries a maximum five-year prison sentence for offenders, the CTFC charged Todd and the entities with failing to implement sufficient know-your-customer checks and a customer information program. 　　　　The CTFC further claims Todd tried to use noneconomic trading to “push” the price of DGTX, the native token of the exchange, higher. The regulator asserted that Todd bought tokens with the intention of artificially expanding the exchanges holdings by driving up the price of the token rather than buying them with the intention of profiting from the individual trades.　　According to the regulators filing, “Defendants are likely to continue to engage in the acts and practices described in

2022-10-03Deep Dive

Mutant Ape Yacht Club, CryptoPunks Among This Week’s Recording-breaking NFT Sales

The NFT ecosystem has been waning in terms of monthly trade volumes since Mays crypto market downtown, and especially compared to all-time highs in January of this year.　　However, this week in particular saw some significant trading activity, and Wednesday takes the cake for the highest daily volume of NFTs sales, measured in ether (ETH), in September and in the past 30 days.　　Sept. 28 saw 12,565 ETH, or $16.6 million, transacted that day. While Sept. 20 recorded a lower volume amount in ETH — 12,549 ETH — the USD amount of $17 million was higher due to the fluctuating price of ether. 　　This weeks spike can likely be attributed to a $16.75 million generative art sale, a $1.3 million Mutant Ape Yacht Club (MAYC) lending deal and a $4.45 million CryptoPunks sale.　　Tyler Hobbs, the creator of the popular Fidenza project on Art Blocks, and Archipelago co-founder Dandelion Wist released mint passes for their new collection, QQL, dropped via a Dutch auction on Wednesday.　　This generative art experiment sold out 900 mint passes using a rebate mechanism so that all buyers ended up paying the same price once it settled. While the auction closed out at 14 ETH, the QQL project collected around

2022-10-03Deep Dive

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