Latest News

The latest cryptocurrency news and analysis from around the world

Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum

On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one […

Bitcoin Price Drops 5% As 12k BTC Flow Into Binance

On-chain data shows that shortly after crypto exchange Binance observed Bitcoin inflow of around 12k BTC, price fell by almost 5%. Huge Bitcoin Inflow To Binance As pointed out by a CryptoQuant post, inflow of around 12k BTC was seen on Binance, the largest crypto exchange by market volume. The Bitcoin inflow is an indicator that shows the total amount of BTC transferred to a crypto exchange from a personal wallet. As investors usually send their crypto to exchange wallets for cashing out, altcoin purchasing, etc., the indicator’s value going up would imply there is some selling pressure in the market. A strong increase in the inflow metric can have direct effects on the price, which usually shows as a drop just a few hours later. Related Reading | Fear And Greed: Sentiment Turns Neutral As Bitcoin Stagnates, What To Do? Now, here is a chart that shows the trend in the value of the BTC inflow for Binance: The BTC inflow for Binance shot up earlier today | Source: CryptoQuant As the above graph shows, there was a sharp spike in the Bitcoin inflow for the crypto exchange Binance. This inflow’s value was around 12k BTC, worth around $470.6 million at the current rate. The chart also displays the curve for  BTC’s price. It looks like just a few hours after this spike occurred, the crypto dropped in value by about 5%. Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin And it makes sense as movement of 12k BTC is quite significant, and a spike like this might mean there is some short-term selling pressure in the market. While this inflow was quite significant, another indicator, the Bitcoin all exchanges netflow, shows that there was outflow of about 19k BTC from all exchanges. This more than makes up for the inflow to Binance, hence the exchange reserve overall still looks to be down. After plummeting, the Bitcoin exchange reserve continues to be down | Source: CryptoQuant BTC Price At the time of writing, Bitcoin’s price floats around $k, down % in the last 7 days. Over the past month, the cryptocurrency has amassed % in gains. Below is a chart that shows the trend in the price of the coin over the last 6 months. BTC’s price zig-zags below the $40k resistance level | Source: BTCUSD on TradingView After enjoying a refreshing period of prolonged uptrend, Bitcoin’s price fell down after peaking at $42k. Now, it seems to be range bound below the $40k mark as the coin can’t seem to break it again. It’s unclear where the price will head from here. It could either continue to be stuck in this range bound environment below the $40k level, or perhaps it will have a breakthrough soon, and a bull run will ensue as hinted by the Bitcoin bullish crossover. A First-Mover Platform Enabling Crypto-Payments between Tenants and Landlords Introduces Deposit Smart Contract to Tackle “Let-and-Run” Schemes, a next-generation proptech platform aiming to advance the move towards a decentralized sharing-economy and making blockchain use-cases in its respective sector more mainstream-accessible, has passed yet another milestone with the release of its novel deposit smart contract.   The platform, aimed to be launched in Q4 and which will make it possible for tenants and landlords to conveniently send and receive rent payments in different cryptocurrencies with increased privacy protection while optimizing outdated market verticals via the deployment of DeFi principles and trustless smart contracts, puts additional emphasis on protecting market participants from online “let-and-run” fraud, reducing costs through disintermediation, and serving as a gateway for both blockchain enthusiasts and less-savvy users. As part of its recent milestone checkmarks, Rentible was recently whitelisted by Bancor with a co-investment of 100K BNT (approx 350.000$) by Bancor DAO, as well as listed on Bittrex Global – a top 20 CoinMarketCap exchange, both quite rare achievements for a young and still under-the-radar project, further demonstrating Rentible’s long-term potential as a nextgen accommodation dapp operating on a global scale. “In a similar way to how sharing-economies like Uber, Lyft, or Airbnb reshaped industries and consumer behaviour in the previous decade, we are now witnessing a core transformation of IT foundations via the growing mainstream adoption of new economic doctrines and concepts based on decentralized characteristics, laying the groundwork for the next evolutionary step of IT implementations in general and of community-based or decentralized sharing-economies in particular, which will constitute an integral part of the sharing-economy reaching $335B in 2025 projection. If you’re a landlord renting out a property, had you received your rent payments in Bitcoin rather than in Fiat throughout 2020, your actual yield would have quadrupled if not more in 2021. This sounds obvious to crypto savvy enthusiasts, yet we need to remember that most landlords and homeowners worldwide, many of whom are actually very interested to venture into crypto and receive rent in BTC, ETH or other cryptocurrencies, don’t know even how to open a wallet, and this is something Rentible aims to help them with and be a facilitator of”, – Lupu Dror, CEO at Founded by a team of seasoned Proptech entrepreneurs and experienced developers, and built upon the award-winning Lakotarsak platform and its partnering site RoomMatesUK, the vision of an autonomous, transparent, intuitive platform that will inject the industry-disruptive capabilities of blockchain technology into Proptech is the compass guiding Rentible’s trajectory as it sets to assume the position of a first-mover in the highly energetic sector of mid-to-long-term online rentals, paving the way for other nextgen ventures to follow its footsteps into this massive yet untapped multi-trillion space.  

Russia to Track Crypto Transactions With Help From Sberbank-Owned Company

The Federal Financial Monitoring Service of Russia is going to start tracking cryptocurrency transactions. The agency has already selected a contractor to develop the platform. The entity is affiliated with one of Russia’s largest financial institutions, Sberbank. Rosfinmonitoring to Keep Record of Cryptocurrency Wallets Used for Illicit Purposes Russia’s financial watchdog, Rosfinmonitoring, has selected a […

Cardano (ADA) Receives Approval To Be Listed In Japan

Cardano (ADA) has recently secured another win in its long repertoire of wins lately. The native coin of Cardano, ADA, has now been approved to be listed in Japan, which features one of the hardest listing requirements in the world. Only a handful of coins have been able to receive approval to be listed on exchanges in Japan, and ADA just became one of them. Japan has always been crypto-friendly right from the beginning. But that does not mean they have lax laws when it comes to cryptocurrencies. The coins that are listed on exchanges in Japan are carefully screened to make sure that they are good projects for its citizens. This means ADA getting approved makes the coin even more valuable now. Related Reading | Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO Sebastien Guillemot, CTO and Co-Founder of dcSpark made the announcement on his Twitter profile, outlining that Japan has extremely strict rules for getting listed on crypto exchanges. Cardano was finally listed in Japan! 🇯🇵 $ADA Japan has extremely strict rules for crypto exchange listings. Only a small number of tokens can be listed in Japan, and ADA is now on that list! 🎉🎉 — Sebastien Guillemot (@SebastienGllmt) August 3, 2021 A Very Important Listing Listings like these do not happen all the time. Cardano (ADA) now joins the likes of Bitcoin, Ethereum, and Litecoin to be amongst coins allowed to be traded on Japanese exchanges. The importance of this listing cannot be overemphasized in the growth of Cardano (ADA) going forward. Guillemot went on to add another tweet that compared the approval in Japan to the listing of the digital asset on Coinbase back in March for the Japanese crypto community. Because while the listing on Coinbase was big news for the rest of the market, Japanese users were still mostly cut off from it. Owing to the strict regulations around cryptocurrencies in the country. Related Reading | Cardano (ADA) Launches Connector For DApps Integration Although the Cardano ICO had taken place mostly in Japan back in 2015, the asset never got listed on any Japanese exchange, until now. This opens access to Cardano (ADA) to a wider customer base who were previously cut off from the market. The listing will allow investors in Japan to finally buy into Cardano (ADA) using exchanges in their own country. Cardano (ADA) Price Reaction The news of the listing has not provided any significant boost to the price of Cardano (ADA) so far. Coin price continues to trend around $1.35, not showing much improvement over the last 24 hours following news of the listing breaking. ADA price remains sluggish | Source: ADAUSD on ADA price remains low momentum despite the market showing continuous bullish trends over the past week. Posting small recoveries, only to dip back down and continue slow movement as time passes. The price of the digital asset is currently trading at $1.357, with a 0.47% gain and a $43.6 billion market cap.

Fidelity Investments Purchases 7.4% Stake in Bitcoin Mining Firm Marathon

Marathon Digital Holdings has published the company’s bitcoin production and mining operation updates for the month of July and bitcoin production increased 66% month-over-month. Furthermore, the financial services giant Fidelity Investments purchased a 7.4% stake in Marathon in July, spending around $20 million for the shares. Fidelity Investments Scoops Up Shares of Marathon for $20 […

Bullish Ethereum Fractal Appears As Important EIP-1559 Upgrade Debuts

All eyes today are on Ethereum as the long-awaited EIP-1559 launches for the first time. The supply-focused update could result in a the start of a spectacular show that could last another several months. A fractal has potentially appeared that mimics the price action just ahead of the most recent explosive Ether rally, which took the top altcoin by market cap from below $1,000 to more than $4,000 at the peak. And it all is happening as the London hard fork is implemented into the most important blockchain in the space. What Is EIP-1559 And Why Does It Matter? Today, Ethereum Improvement Protocol 1559 will be set live as part of the London hard fork. The upgrade will help to normalize ETH gas fees that during the peak NFT and DeFi boom of 2021, sent costs skyrocketing. Base fees will be algorithmically determined by the network, however, the user can also increase the fee to in essence “tip” a validator. To prevent validators from artificially flooding the network to keep fees high, validators don’t get this base fee, instead it is burned. By destroying coins and taking them out of the circulating supply, investors believe this can further impact the ongoing “supply shock” or lack of ETH reserves on exchanges currently. In addition to this new EIP-1559 upgrade that could impact supply, it is part of a greater Ethereum 2.0 update. More than 5% of the entire supply is now locked up in the ETH 2.0 smart contract, in addition to the massive amount of tokens tied up in DeFi protocols. With so few ETH to go around, the supply shock could be very real and it arrives at the same time that a potential fractal is appearing on the ETHUSD price chart. Does an Ether fractal point to another parabolic rally? | Source: ETHUSD on Supply Shock Ethereum Fractal Fits Blueprint To Substantial Highs Ethereum was among the cryptocurrencies hit the hardest from the historic Q2 selloff. From the exact peak to the low, the second largest coin in the space by market cap plummeted by 61.8%. Related Reading | The Ominous Ethereum Comparison That Will Leave Bulls Petrified The peak was followed by two consecutive bumps, followed by a break of downtrend resistance. Zooming out, shows that the same exact pattern formed just ahead of the cryptocurrency’s more than 1,000% rally. Taking the price action on the way up and juxtaposing it over the recent consolidation, and there’s a very similar trajectory potentially forming. Could the EIP-1559 upgrade cause an extended fifth wave? | Source: ETHUSD on Zooming out further, the entire structure fits and five-wave bullish impulse according to Elliott Wave Theory. Even the math adds up. Waves 1, 3, and 5 move up with the primary trend, while even numbers 2 and 4 are corrective phases. Related Reading | Fundamentals Suggest Cryptocurrency Is Massively Undervalued Waves 2 and 4 tend to swap in severity, with wave 2 this time falling under the weaker of the two. The top altcoin only then suffered a 38.2% drop – another Fibonacci retracement level. Wave 4 reached the full 61.8% in severity, and if the bottom is in, a whopping wave five could be next. Wave 1 resulted in 450% returns, and wave 3 added another 1300% to boot. An extended wave 5 could yield dramatic results. Is this what is to come next for Ethereum and could it be due to the EIP-1559 upgrade? Potential last leg up in #Ethereum looks almost too easy to spot. Is this time really different? — Tony “The Bull” Spilotro (@tonyspilotroBTC) August 5, 2021 Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from

US Government Has Seized Cryptocurrencies Worth $1.2 Billion So Far This Year

The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime at the Internal Revenue Service (IRS), shared some information on cryptocurrencies […

Buy Bitcoin

Fast and secure way to purchase 150+ cryptocurrencies. 24/7 live-chat support.