Bitcoin surpasses $20,000 to hit all-time high December 16, 2020 Bitcoin has surpassed $20,000 this afternoon reaching its highest ever level making it one of the best performing assets of the year. The cryptocurrency jumped 4.5 per cent to trade as high as $20,440 after a strong year which has seen demand from larger institutional investors. The pandemic has led to a reassessment of bitcoin [...]
From Industrialized Yield Farming to Hydroponics December 16, 2020 Over the course of 2020 the liquidity locked in decentralized finance (DeFi) protocols has grown in rapid fashion with use cases such as crypto-backed lending, decentralized exchanges (DEX’s) and insurance bringing the Total Value Locked (TVL) in DeFi to its current peak ~$15 billion with the majority of this capital existing on the Ethereum blockchain. [...]
Record highs December 16, 2020 Road to 20k The relentless appetite for risk drove the market higher yet again and with that, aggregate Bitcoin futures open interest (OI) advanced to a new record high. Interestingly, the CME has lost some ground to the likes of OKEx and Binance, although the OI still remains above $1 billion. Nevertheless, with the contango [...]
Lighting the flame December 15, 2020 Crypto interest opens The bullish camp gained further ground and the open interest (OI) surged back to within a touching distance of record highs, while the futures term structure was stretched even more in the wake of the broad-based risk on sentiment. As a result, Bitcoin traded briefly above the $19,500 level, before falling back [...]
Lending against Crypto? – A $10bn loan market emerges as 2020 comes to a close December 15, 2020 At the time of writing, the global market capitalisation of crypto assets (bitcoin, Ethereum and the like) is in excess of US$400bn. While still much smaller than other more traditional asset classes, this is considerable growth in market cap from a year ago, and yet – considering the perception of inherent volatility in crypto as [...]
NFTs: A hot trend for hackers December 15, 2020 2020 has been another milestone year for new, emerging crypto trends. From the research conducted by our Hacken team, we found that Decentralized Finance (DeFi) undeniably saw the most explosive growth with the total value locked in protocols up 2,000% since January 1, from US$690m to US$14.5bn. However, the Non-Fungible Token (NFTs) space has also [...]
The Year in Review – The 2020 Crypto OTC Market December 15, 2020 Covid is on the blockchain. No it’s not. That was a crypto and Covid joke in one! A trader I spoke to today said that 2020 has been a great year for our personal accounts and awful for just about everything else. Covid has defined 2020 for so much of the world and in my [...]
Bitcoin Maintains $19,000 Level As Corporate Adoption Keeps Growing December 14, 2020 This week CryptoCompare data shows the price of Bitcoin (BTC) moved from about $19,200 at the start of the week to a low slightly above $17,500 before recovering back to $19,100 at press time. The cryptocurrency has maintained this level despite a few pullbacks. Ether (ETH), the second-largest cryptocurrency by market capitalization, has similarly remained [...]
Rebuttal December 14, 2020 XRP receives a spark Bitcoin recovered strongly over the weekend and traded through the $19,000 level, before finding resistance just ahead of the $19,500 level. In part supported by macro narrative and also rotation out of XRP. To that, XRP traded softer over the weekend, largely as expected, as the Flare Network worked out which [...]
Bitcoin Regulation Stalls Rally! Is Now A Good Time To Buy Bitcoin? December 11, 2020 After an incredibly volatile week, Bitcoin heads into the weekend with great uncertainty over the price. There are many bullish events happening in the markets at the moment but one major bearish event is overshadowing them all. New legislation in the USA? As Donald Trump gears up to leave the White House, one of his [...]