Including Michael Burry aka "Cassandra" telling us to short Bitcoin at $30K. That itt was gonna tank. Looks like it tanked the wrong way. If you had listened to "Cassandra", you would have gotten liquidated. So much for 2018 2.0. Back in April and May, that's all we would hear. 2018 2.0. Ok, maybe not…
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Hey so say I wanted to make an app with one use case. I want a wallet to be a source of encrypted information rather than index of money. For example but not limited to, maybe something like my SSN, credit card numbers, bank info, etc. Is this possible with ethereum, L1/L2/Side-chain is okay as…
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On Friday, October 15, 2021, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had ordered the company Tether Holdings Limited and Ifinex Inc., the parent company of Bitfinex, to pay fines totaling $42.5 million. The CFTC accuses Tether of “making untrue or misleading statements and omissions of material fact in connection with the […]
According to the exchange, it plans to retain 16 cards from the blockchain-based game Spells of Genesis to sell before 2022 and give the remaining 16 to its DAO.
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Bitcoin price spikes above $61,800 as the promise of a BTC ETF approval reignites the discussion on whether the top-ranked cryptocurrency will hit $100,000 by the end of the year.
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On-chain data shows crypto exchange Coinbase saw a withdrawal of 400k Ethereum yesterday. This could be a sign of activity from institutional investors, and could prove to be bullish for the coin. Coinbase Observes Outflow Of 400,000 ETH As pointed out by a CryptoQuant post, about 400k ETH (1.5 billion at the current exchange rate) was withdrawn yesterday from the crypto exchange Coinbase. The indicator used here is the Ethereum outflow, which shows the total number of coins exiting wallets of the exchange. When the metric shows a big spike, it means a lot of ETH was withdrawn from the exchange. Investors usually take out a lot of coins to either hodl them or to sell them through OTC deals. So, constant outflows can mean that there is a buying pressure in the market and investors feel bullish on Ethereum. Now, here is how the chart for the indicator looks like for the crypto exchange Coinbase: ETH’s outflow showed a large spike yesterday | Source: CryptoQaunt As the above graph shows, the crypto exchange Coinbase saw a spike of a massive 400k Ethereum in outflows yesterday. Outflows this big can be a sign of activity from institutional investors as certainly normal holders won’t have these many coins to move around. Related Reading | Only In Crypto: A Croissant Lists Potential Bullish Drivers For Bitcoin And Ethereum In Q4 2021 Institutional investors being bullish on ETH can mean huge things for the crypto. If ETH has to move to the next leg up, it will need a lot of money pumped into it, and this usually means whales like institutional investors need to get involved. As these outflows already signal that institutional investors are taking their coins out of exchanges to perhaps hodl them, ETH’s outlook looks bullish. Ethereum Price At the time of writing, ETH’s price floats around $59.9k, up 9% in the last seven days. Over the last thirty days, the crypto has amassed 25% in gains. The below chart shows the trend in the price of the coin over the last five days: ETH’s price makes a push up and approaches the $4k mark | Source: ETHUSD on TradingView ETH has made a big push in the last few days as the coin now approaches a test of the $4k mark. It’s unclear at the moment if ETH can keep this momentum going and reach a new all time high (ATH) soon, or if it will falter once again. Related Reading | TA: Ethereum Follows Bitcoin, Why ETH Could Surge Towards $4K If the outflows are anything to go by, the general sentiment seems to be bullish and institutional investors getting involved can help with the big price pushes the crypto needs to break important resistance lines. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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