Retail Bought $3.7K Bitcoin Price Dip on Record $76B Volume: Report

Although the Coronavirus pandemic has led many brick and mortar industries to close operations, cryptocurrency exchanges seem to have had their best month in a long time.  According to an exchange report released by CryptoCompare, Bitcoin (BTC) trading volume saw record-breaking numbers throughout the month. Cryptocurrency market daily view. Source: Coin360 The March 13 market crash that brought the Bitcoin price from $8,000 to a low of $3,800 in 24 hours registered the biggest day for crypto in terms of trading volumes registered at Bitcoin spot markets. On March 13 alone,…

Bitfinex Supplied ‘Most’ Liquidity During $3.7K Bitcoin Crash — Report

Bitcoin (BTC) saw a “flippening” during its price crash to $3,700 last month — something that could reveal a new uncomfortable truth about exchanges. In its March Exchange Review released this week, monitoring resource CryptoCompare highlighted liquidity as a key metric which changed during last month’s extreme volatility. CryptoCompare: Bitfinex hit 40% of exchange volume On March 12, as Bitcoin prices collapsed in a matter of hours, it was notably one platform in particular which provided more volume, and hence liquidity, for traders. “Despite Binance and OKEx trading the most…

Friday’s Unemployment Report is Just the Tip of a Terrifying Iceberg

Coronavirus-induced unemployment is even higher than the dismal figures out this week show. Several big names announced wide-scale layoffs that won’t show up in unemployment data until later in the month. As the shutdowns persist, we’re likely to see unemployment figures continue to climb. The impact of coronavirus is becoming painfully evident as unemployment numbers continue to rise at a sickening pace. One by one the dominoes are starting to fall as U.S. employers are forced into mass layoffs and furloughs to cope with the sudden halt in demand. Thursday’s…

Bitcoin Bulls Can Take BTC Price to $8K Amid Report $10 Oil Inevitable

Bitcoin (BTC) was pushing to flip $7,000 resistance to support on April 3 amid warnings that oil markets really will hit $10 a barrel this month. Cryptocurrency market daily overview. Source: Coin360 Media: $10 oil could last the whole Q2 Data from Coin360 and Cointelegraph Markets tracked multiple attempts by Bitcoin bulls to push the market definitively over the $7,000 mark on Thursday and Friday. At press time, all those attempts had failed to deliver support, with BTC/USD in each case falling back to the high $6,000 range. Bitcoin 1-day…

BCH, BSV Block Halvings Will Force Miners to Bitcoin (BTC) — Report

Bitcoin (BTC) miners will continue to capitulate due to low prices, but upcoming events for Bitcoin Cash (BCH) and Bitcoin SV (BSV) will fuel the turmoil, says a new forecast. In the latest edition of its State of the Network reports on March 31, Coin Metrics argued that Bitcoin was in a spiral of miner capitulation. This, it said, would get worse before it got better. Coin Metrics expects “pattern of capitulation” Despite BTC/USD recovering over 70% in two weeks since hitting lows of $3,700, prices are still “almost certainly…

The Need to Report Carbon Emissions Amid the Coronavirus Pandemic

JPMorgan Chase, the first American bank to create and successfully test a digital coin representing a fiat currency, also provided the most fossil fuel financing out of any bank in the world, according to a 2019 report titled “Banking on Climate Change.” The bank recently joined a chorus of other financial institutions and endowments that have declared that they will, going forward, be reluctant to provide funding to the fossil fuel industry — which energizes emerging digital technologies and companies — in order to mitigate the effects of climate change.…

Coin Metrics Report Shows Stablecoin Transfer Value Hit $444 Million

Blockchain analysis company Coin Metrics has found that while Bitcoin (BTC) was experiencing its biggest daily drop in the last seven years, stablecoins reaped the benefits.  Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, released their State of the Network report on March 23. The report focused on how the rest of the crypto market fared during the BTC crash two weeks ago. According to Coin Metrics data, stablecoins gained market share, spreads on spot and futures markets widened, and transfer fees spiked as people rushed to…

BitMEX Report: Issuance of CBDCs May Lead to Inflation

A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money supply In the modern economy, the money supply is largely determined by the banks’ ability and/or willingness to make loans. “From a liquidity perspective, the largest deposit-taking institutions in an economy have an almost unconstrained capability to create new loans, since the funds loaned out will automatically get placed back into their own bank as a deposit.”…

Terrifying Report Claims Coronavirus Could Kill Over 4 Million Americans

A research report published by Imperial College states different scenarios in which coronavirus could affect the U.S. The Imperial College team plugged infection and death rates from China and Italy into a simulator and came out with terrifying numbers. The report states that a vaccine is 18 months away. Complete lockdowns and quarantines will help keep the death rates low. But the question remains if Americans can live like this until the entire population is inoculated against the virus. The coronavirus pandemic has forced many countries to their knees. Now,…

Chinese Journalist Shares Report on COVID-19 on Ethereum, Bypassing Censor

Amid censorship in China of all coronavirus-related content circulating online, Sarah Zheng, a journalist for the South China Morning Post, claimed to have managed to publish an interview made to a doctor about the coronavirus within Ethereum network. According to a tweet published by Zheng, Dr. Ai’s words from Wuhan (the epicenter of the COVID-19 outbreak) were posted on the Internet, thanks to the use of Ethereum blockchain to store its content in the network. Methods used in the interview to avoid censorship The interview, as The Straits Times reports,…