Curve (CRV) sees 150% rebound as DeFi bottoms and ETH gas fees drop

DeFi tokens and protocols took a heavy hit on May 19 as Bitcoin price dropped to $30,000 and while BTC has entered what some analysts describe as a ‘compression’ phase, the total value locked in DeFi and the value many of the sector’s tokens have yet to rebound to the levels seen before the market crash. Curve DAO token (CRV) stands among the few DeFi tokens that have seen a strong recovery over the past two weeks due to reduced Ethereum gas fees, the launch of Convex Finance and the…

Ethereum has strong fundamentals, so why are pro traders bearish on ETH?

Ether (ETH) has outperformed Bitcoin (BTC) by 32% since May and even though there has been a steady flow of bullish reports from JPMorgan and Goldman Sachs, derivatives metrics show elements of bearishness in both assets.  Ether and Bitcoin price change since May. Source: TradingView Bitcoin is trading 41% below its $64,900 all-time high and that move has driven the “Crypto Fear and Greed Index” to the lowest level since March 2020. While retail fears the dip, professionals such as global investment firm Guggenheim Investments have filed with the United…

Southern China warns investors against illegal token platforms

Following China’s major regulatory crackdown on cryptocurrencies, financial regulators in Hainan, the smallest province in the country, reportedly issued a warning against crypto or blockchain-themed illegal fundraising schemes. According to local reports, the Hainan branch of the People’s Bank of China, the central bank of the country, and the local financial supervision authority were among the regulators who made the announcement. Regulators warned investors about illegal fundraising campaigns that use virtual currency or blockchain as promotion material, stating that illicit token issuance and financing activities are forbidden. “Any so-called token…

Here’s 3 ways the relative strength index (RSI) can be used as a sell signal

A trade is profitable only if both the purchase and the sale are done at the right time. Many times, traders sell their positions too early and leave profits on the table or they keep holding on to the trade even after the trend changes. This leads to profits evaporating, and many times the trade turns into a loss. While it is important to trade with the trend, it is also important to keep an eye out for signs of a reversal. If traders learn to spot these warning signs,…

‘Discounted’ Bitcoin more likely to hit $100K than $20K in 2021, says Bloomberg analyst

Despite a massive drawdown in May, the Bitcoin (BTC) bull market appears to be intact, with a $100,000 price target more likely than a retrace to $20,000, according to Mike McGlone, Bloomberg’s senior commodity strategist.  $20K or $100K in 2021? The June 2021 edition of the Bloomberg Galaxy Crypto Index report described Bitcoin as ‘stronger, greener and less extended’ than during the height of the rally in April. For that reason, the flagship digital currency is more likely to reach the coveted six-figure mark this year than incur a deeper…

As some governments falter, others press on

With the crypto market turning up its pace of growth over the last year and a half, the idea behind central bank digital currencies (CBDCs) seems to have gained an increasing amount of traction among many governments and retail banking institutions. In this regard, as per a study recently released by consulting giant PwC, more than 60 central banks have been exploring the unique value proposition put forth by CBDCs. Furthermore, it bears mentioning that following the dawn of the coronavirus pandemic, the use of physical cash has continued to…

What to expect from the Miami Bitcoin 2021 conference

From Thursday through Saturday, a throng of crypto faithful will gather at the Mana Wynwood Convention Center in Miami for the Bitcoin 2021 conference.  Bitcoin 2021 perhaps holds even greater significance than usual, as participants can gather in a physical location after COVID-19 restrictions forced many other crypto conferences to go virtual. This year’s conference boasts a stellar cast of members of Congress, celebrities, cryptographers, CEOs and other crypto proponents, with the total attendance anticipated to exceed 50,000 people. Some of the personalities expected at the event include Miami Mayor…

Korean Solana expansion gets $20 million boost

Solana-related news has surfed a number of headlines in recent months. The blockchain now appears headed for major strides in Korea, with significant funding for its surrounding ecosystem.  “As one of the largest crypto markets globally, Korea has an extraordinarily high adoption rate of cryptocurrencies,” a representative from Korean firm ROK Capital told Cointelegraph. “By expanding the Solana ecosystem in Korea, we hope to grow the awareness and adoption of decentralized applications on the Solana ecosystem as well as encourage and incubate local teams to build on Solana.” A new…

Why Bitcoin Price Could Be Destined To Retrace To $14K

Bitcoin price just saw the worst high timeframe correction in years, falling sharping by 50% and instilling fear across the market. The turn in sentiment has everyone guessing where the now bearish cryptocurrency could fall to, but according to past cycles, it could get a lot worse before it gets better. Here’s more on why Bitcoin price could fall back toward $14K before the bear phase is over. Bitcoin Yearly Candle Turns Bearish, But What About The Bull Market? The arguments are all similar: if that was the top in…

Security tokenization may be the next big use case for blockchain tech

Is tokenization of securities the way of the future? In an interview with Raiffeisen Bank International, the bankers leading its blockchain research hub stated that indeed, by 2030, most securities will have been tokenized. To gain a deeper understanding of how blockchain technology can transform traditional stock exchanges, Cointelegraph Research compiled a dataset of all security token offerings and found that almost $5 billion was raised in 2020.  Cointelegraph’s first report on security tokens explains how bond and stock tokenization works, how many assets have already been tokenized, what returns…