Record CME BTC Open Interest Shows Institutions Bullish on Bitcoin Price

Bitcoin’s (BTC) options markets are finally taking off at CME. This week Cointelegraph reported that the combined volume traded over the last ten days surpassed $140 million, as institutional investors delved in call options. The buyer of a call option can acquire Bitcoin for a fixed price on a predetermined date. For that privilege, this investor pays an upfront premium for the call option seller. CME Bitcoin Options Volumes – USD. Source: Skew As halving uncertainties became less of a risk, institutional investors began mounting bullish positions. Despite being more…

Crypto Traders Are Longing ETH (And Not Much Else)

The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March. Despite the broader crypto markets posting price gains alongside Bitcoin (BTC) in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash. Ether longs dominate crypto markets Since breaking into record highs on Feb. 26, ETH/USD longs on major crypto exchange Bitfinex have increased by 170%, with the violent Black Thursday mid-March crash failing to drive even a modest…

Bitcoin Breakout Hopes, R.I.P. TON, Trump Threatened: Hodler’s Digest, May 11–17

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price charts hint at the most exciting breakout in over a year The halving has been and gone — and so far, it hasn’t been the cataclysmic event that some in crypto circles feared. Some market analysts have now set their sights on what…

Bitcoin Transaction Fees Are Up 800% in One Month

From April 11 until May 14, Bitcoin (BTC) transaction fees increased by more than 1,250% from $0.38 to $5.16. While Bitcoin transaction fees have since fallen by 33.3% to sit at roughly $3.44 as of this writing, fees have increased by 36.5% since the block reward halving on May 11. Bitcoin fees double in three days after halving The average cost of executing transactions on the Bitcoin network has increased by more than 800% in just one month, with May posting the highest transaction fees since July 2019 so far.…

Fortnite Fans Race to Earn ETH-Based Rewards on Reddit, Crypto Users Saunter

Within days of launching on the Rinkeby testnet, Reddit’s Ethereum (ETH)-based Community Points rewards system has seen more than 10,000 addresses created. Reddit’s points were rolled out across two subreddit communities pertaining to the topics of the popular video game Fortnight (r/fortniteBR) and cryptocurrency (r/cryptocurrency) from March 13 to March 15. Perhaps surprisingly, over 80% of wallets created on the testnet so far represent the Fortnight community. Reddit ‘Community Points’ wallets tag five-figures Within three days of completing its rollout, over 10,000 users have signed up to receive Reddit’s Community…

Centralized Exchanges Continue to Shed Bitcoin

Data compiled by Glassnode is showing that the number of Bitcoin (BTC) held on top crypto exchanges has steadily fallen since the violent mid-March crash that saw crypto prices tumble by 50% in a single day. The sum of BTC held on exchanges currently sits at a little over 2.3 million — the lowest it has been since May 22, 2019. As such, the percentage of BTC stored on centralized exchanges has dropped from 14.1% to 12.5%. $3B in BTC removed from exchanges since March The number of BTC stored…

There’s a Colossal $40M Sell Wall Preventing Bitcoin From Crossing $10,000

The price action over the past few days has undoubtedly been positive for Bitcoin. After bottoming at $8,180 on the day of the block reward halving, the cryptocurrency has shot higher, approaching $9,900 just hours ago. With the price now consolidating around $9,800, analysts are hopeful that BTC will break past $10,000. Yet market data indicates that there’s a building sell wall at the key psychological and technical level that may halt any rally. Bitcoin Sell Wall Worth Dozens of Millions Could Halt Rally According to order book data of Bitfinex’s…

Cyprus Hospital to Deploy DLT-Based Medical Data Management

Blockchain tracking platform, VeChain, announced that it co-developed a blockchain-based medical data management platform in partnership with digital healthcare solution firm I-Dante. The platform, dubbed “The E-NewHealthLife”, is set to see deployment at the Mediterranean Hospital of Cyprus — with the European island’s healthcare sector reportedly operating with numerous inefficiencies resulting from outdated technological infrastructure, VeChain announced on May 16. The Mediterranean Hospital of Cyprus has 300 employees and processed 38,000 outpatient visits during 2019. VeChain launches DLT medical platform in Cyprus The first phase of the platform’s rollout will…

Robert Kiyosaki Predicts Bitcoin Will Be Worth $75k in 3 Years

Robert Kiyosaki, businessman and best selling author of the book Rich Dad, Poor Dad, has taken to Twitter once again to proclaim his bullish position on Bitcoin. His prognosis? BTC’s price is heading to $75,000 in three years. How Kiyosaki values each asset In a May 16 tweet, Kiyosaki states that his fear of a dying economy has led him to purchase more of three assets that he ostensibly considers valuable outside of the traditional financial system: Gold, Silver, and Bitcoin (BTC). The author’s tweet outlines just how valuable he…

Hackers Are Using Supercomputers to Mine Crypto

Hackers have attacked multiple supercomputers across Europe this week with the intention of mining cryptocurrency. Clusters of supercomputers have been forced to shut down in order to investigate the intrusions, according to a ZDNet news report on May 16. These security incidents were reported in the UK, Germany, and Switzerland. Additionally, another possible attack occurred in a high-performance computer center in Spain, according to the report. College campuses are the main victims Most of the attacks appear to have targeted universities. University of Edinburgh,which runs the ARCHER supercomputer, reported the…