Ethereum‘s “Monthly Pivot” Could Signal That a Major Rally is Brewing

Ethereum has flashed some significant signs of strength after posting an intense recovery yesterday. The cryptocurrency is now back within the boundaries of its multi-month trading range, and buyers appear to be attempting to establish its recent lows as a long-term bottom. Overnight, sellers pushed it as low as $222 – just a hair above its crucial high time frame support at $220. The dip to this level catalyzed a significant amount of buying pressure, which was further perpetuated by Bitcoin’s surge from $8,900 to highs of $9,300. ETH is…

Huobi Becomes First Major Exchange to Run a Chainlink Node

Major cryptocurrency exchange Huobi will integrate their price data with Chainlink’s ecosystem in an effort to improve its own data integrity and provide more accurate price information. While Binance was the first major exchange to provide their data to Chainlink oracles in October 2019, Huobi has gone one step further by running its own node on the system through Huobi Wallet. This allows the exchange to sign its own price data allowing users to confirm that any exchange data coming from the Huobi Node is authentic and direct from the…

Bitcoin Has Only Had One Other Rounded Top, And a Major Correction Followed

If the current price action is a top formation, then it doesn’t match the sharp spikes Bitcoin and blow-off tops the cryptocurrency is known for. Only one other time has a comparable rounded top formation appeared on BTCUSD price charts over the last ten years. And when it happened, a major correction followed. Should the first-ever cryptocurrency fail to pump soon and prove this trading range isn’t a top, then another collapse could be next. When Will The Confusing, Sideways Trading Range End and Crypto Break Out? The current Bitcoin…

Major Economic Data Releases Tomorrow — How Would Bitcoin Respond?

Bitcoin has started the third quarter mutely as its price fluctuates in a small $6-range. The cautious sideways movement surfaces ahead of the U.S. Non-Farm Payrolls (NFP) report releasing on Thursday. Observers expect a recovery of at least 3 million jobs in June, a piece of news that may help the S&P 500 and Bitcoin continue its rally into the new week. The price of Bitcoin on Wednesday rose modestly, signaling that the cryptocurrency will start the third quarter on a cautious note after closing the previous one more than…

Bitcoin’s ROI Since 2015 Outperforms Five Major Indices by 70X

Bitcoin had a nearly 3,500% return on investment since 2015, 70 times that of five traditional stock markets. According to a June 29 article at investor website Buy Shares, data analyst Justinas Baltrusaitis says from June 26, 2015 to June 26, 2020, the return on investment (ROI) for Bitcoin was more than 70 times higher when compared to the Financial Times Stock Exchange 100, NASDAQ, Nikkei, S&P 500, and Dow Jones markets.  “During the period under review, Bitcoin’s ROI stood at 3,456.98% where in June 2015, the price of Bitcoin…

Why Bitcoin’s Network Activity Is Suggesting the Arrival of Major Price Action

Market participants are becoming overwhelmingly concerned about a 22,000 BTC transaction that was made by the perpetrators of the PlusToken Ponzi scheme. The last time the individuals behind this scam moved such a significant number of tokens were back in mid-February. During that time, roughly 12,000 BTC, worth $117 million, was transferred to an unknown address associated with mixer deposits. Following the transaction, Bitcoin peaked at a high of $10,500 and entered a downward trend that saw its price drop by nearly 70%. Ergo, an on-chain data analyst, had previously…

Major Japanese Firm Reveals Plans for a Digital Securities Exchange

Tokai Tokyo Financial Holdings, one of the major traditional Japanese financial institutions, has unveiled a plan to develop a security token exchange. Tokai Tokyo is already an investor in Huobi Japan.  According to Nikkei, as the first step in the journey, Tokai Tokyo is investing in blockchain company Hash Dash Holdings to leverage the company’s knowledge to develop the exchange. Hash Dash aims to apply blockchain technology to the financial industry for issuing digital securities and providing a trading service on smartphones.  The planned exchange will trade in tokenized real…

How and Why Major Stars Are Embracing Tokenization

Over the last two years, the cryptocurrency industry has gone through a paradigm shift, as developers, projects and users have begun applying blockchain technologies to ever more innovative and intriguing use cases. Among these, the tokenization of entertainers, sports stars and big personalities stands out as one of the most unusual recent trends because traditional sports, entertainment and modern technologies like blockchain seem like an unlikely pairing. However, the tokenization of sports contracts, intellectual property in sports, stars and players is actually the logical next step in the evolution of…

Major Crypto Debit Card Issuer Reportedly Missing $2.1B in Cash

Major fintech company WireCard, which issues Crypto.com’s debit cards, has fallen into controversy as some of its employees appear to have defrauded the company. As reported by the Financial Times on June 18, auditors from Big Four accounting company EY “could not confirm the existence of €1.9bn in cash,” or about $2.1 billion.  According to a statement from the company, a trustee of Wirecard’s bank accounts attempted to deceive the auditor and falsely indicate the existence of the cash balance. The company’s stock price plummeted by almost 50% on Thursday…

$300 ETH? Ethereum Looks to Be Next Major Crypto to Follow Cardano

Recently, several altcoins have been showing strength. A few good examples are Theta Token (THETA), Zilliqa (ZIL), and Elrond (ERD). However, the large caps are lagging heavily and the only large-cap performing well has been Cardano (ADA). As smaller cap altcoins begin to lift off, some investors might be wondering exactly what is needed for a significant surge in the large caps? Does the market need confirmation from Bitcoin (BTC), the top-ranked digital asset on CoinMarketCap, or is the top altcoin Ether (ETH) the signal?  Crypto market daily performance. Source:…