Binance NFT Marketplace looks to capture market share via ‘100 Creators Campaign’

In an increasingly crowded marketplace for marketplaces, Binance is going on the offensive with a business development push aimed at bringing “100 Creators” to their forthcoming NFT platform.  In a press release today, Binance announced a drop from Misha Most, a noted street artist who currently holds the world record for the largest wall mural. Most will be making 10 NFTs made in collaboration with other artists, and the pieces will be available for sale in the first week of launch of the marketplace, currently scheduled for June 24th. “Digital…

Bitcoin rejects near $37.5K, on-chain data shows capitulation from short-term holders

Bitcoin started the week off with an abrupt bullish breakout to $37,500, a level some analysts have identified as a crucial ‘line in the sand’, but the rally was short-lived as BTC met selling near the lower arm of the bearish pennant that can be seen on multiple timeframes.  While many traders are concerned that the 2021 bull market is now over and considering whether gains should be locked in, on-chain data shows that long-term Bitcoin (BTC) holders have been accumulating in preparation for a potential 2013-style double-pump that has the…

How relevant is the $900M open interest on Bitcoin options above $100K?

Bitcoin (BTC) is fast approaching its worst monthly performance in a decade, but some investors are using this as an opportunity to buy ultra-bullish long-term derivatives. There are currently over $900 million in call (buy) options aiming at $100,000 and higher, but what exactly are those investors seeking? Options instruments can be used for multiple strategies, which include hedging (protection) and also aiding those betting on specific outcomes. For example, a trader could be expecting a period of lower volatility in the short-term, but at the same time, some significant…

3 on-chain indicators suggest the Bitcoin price sell-off is losing steam

Bitcoin (BTC) entered a consolidation phase following its May 19 crash from $42,600 to $30,000 on Coinbase. The flagship cryptocurrency recovered its losses quickly and reclaimed $40,000 but it failed to log a clear bullish breakout above this resistance level and at the time of writing the price remains pinned below $40,000. The latest price action in the Bitcoin market has been — at best — choppy, with traders showing no clear indication about their short-term bias. Some analysts predicted that if the BTC/USD price does not break above $40,000,…

Amid pullback, Argentinian Bitcoin miners thriving

While the broader crypto market suffers through a painful slump, a new report today indicates that Bitcoin miners in Argentina are thriving as they take advantage of convoluted energy policies.  A report from Bloomberg republished in the Buenos Aires Times says that residential mining is picking up due to a mix of factors, including currency controls, energy subsidies, and rampant inflation. The favorable mix of conditions has even brought in international attention as Canadian mining company Bitfarms Ltd. looks to set up what will reportedly be the largest mining operation…

Five Signs That The Bitcoin Bottom Is In

Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record. Even if the blood stain is left behind on the price chart for good, that doesn’t mean bulls still can’t pull off an upset and push prices higher. Here are five signs that Bitcoin price has bottomed out, or will be soon. The Signals Showing The Bitcoin Bottom Is Near Just as extreme bullish sentiment and exuberance around mid-April was…

0x launches DEX liquidity API on Polygon

0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon. According to the announcement, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, as well as Dodo, mStable, QuickSwap and Cometh. Detailing the ease of using the 0x API on Polygon, the…

Indian central bank clarifies regulations as local banks shun crypto

India’s central bank has issued an official notice regarding the fact that local banks are reportedly cautioning customers against using cryptocurrencies like Bitcoin (BTC). Published Monday, the notice points out that the Reserve Bank of India is aware of media reports that certain banks have cautioned their customers against crypto by referring to the RBI’s quashed, three-year-old circular. “Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 4, 2020 in the matter…

Ethereum is ‘MySpace before Facebook’ while Bitcoin won as ‘Google’

Bitcoin (BTC) is at risk of a “flippening” from Ether (ETH), mainstream media claims as some familiar FUD — fear, uncertainty and doubt —returns to the spotlight. As BTC/USD continues to flag below $40,000, an old argument has resurfaced — but major investors are fighting back. Bloomberg: ETH “will likely exceed Bitcoin” In an article on May 31, Bloomberg cited multiple sources claiming that in the future, Ether will overtake Bitcoin as the world’s cryptocurrency of choice. The largest altcoin “will likely exceed Bitcoin at some point in the future,…