Category: Cryptocurrency News

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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the current inflation may lead to a “Greater Depression.” He added that real estate is crashing and foreclosures are up 700% from last year. Robert Kiyosaki’s Depression Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, voiced fresh […]

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Bitcoin funding rates had seen a very negative month between mid-June and mid-July. The funding rates, which had previously remained muted, quickly declined below neutral and proceeded to spend the next one month on this level. However, there is a significant change as last week saw funding rates return to neutral. Funding Rate Recovers On Exchanges The bitcoin funding rates had been touching low points as the price of the digital asset struggled. This was concerning given that funding rates were expected to improve as the digital asset began to basically trade at what was described as a “discount.” This would not be farther from the truth, as funding rates fell to their lowest points this June. It indicated that perp traders were still bearish on the cryptocurrency and refrained from moving in. Related Reading | Bitcoin Dominance Dives As Ethereum Takes Up More Space Last week would come with good news as funding rates returned to neutral and stayed there. Binance and Bybit crypto exchanges both recorded funding rate levels of 0.01%. The return to neutral came as the price of bitcoin started a relief rally that saw it break above $23,000. Funding rates return to neutral | Source: Arcane Research  Open interest had also followed the same route, although it retraced during the week when the price fell once more. It showed that there is still a lot of leveraging going on in the market since the bitcoin open interest was not much different from what was recorded the prior week, even with the decline. Bitcoin Traders Turning Bullish The recovery of bitcoin funding rates to a neutral level is a testament to the returning positive sentiment among traders and investors. It definitely does not signal that the market has returned to its previously bullish phase, but it is an indication that investors are now looking favorably at the bitcoin and crypto market at large. BTC retraces downwards | Source: BTCUSD on TradingView.com It tracks along with the Fear & Greed index which has now moved out of the ‘Extreme Fear’ territory for the first time in almost three months. It saw an incredible bounce from last week’s sentiment, with a score of 18 putting it in extreme fear. Although the market is still fearful, the recovery is seeing faith return to the market. It is also evidenced in the buying pressure that has been building this week.  Related Reading | Domino Effect On Stablecoins Leads To Reversal Of Growth Trend The correlation of the funding rates with the price of bitcoin can either be good or bad from here on out, depending on how well the cryptocurrency performs in the market. If it continues its recovery trend, then funding rates may return above neutral for the first time in more than two months. Featured image from CNBC, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

The future of the second-largest cryptocurrency is hampered by the US dollar index’s recovery. On Thursday, the price of Ethereum (ETH) showed just slight decreases. Ethereum Consolidates On July 21, price movement in the cryptocurrency market as a whole was mostly muted as traders took a day to digest recent gains and book profits after the strongest relief bounce since early June. The Ethereum Merge has remained at the top of the list despite rumors regarding what sparked the recent spike. After a preliminary date of Sept. 19 was chosen for the mainnet Merge, the market rally accelerated. The price of Ether (ETH), which reached a high of $1,620 on July 20, retraced to a low of $1,463 in the early trading hours of July 21, according to TradingView data, and has since recovered back above support at $1,500. ethereETH/USD back around $1,500. Source: TradingView Following the initial price spike caused by the Merge news, here is what various analysts anticipate will happen as Ether’s mainnet switch to proof-of-stake draws near. Market analyst Rekt Capital posted the following chart showing the significance of Ether’s weekly finish over $1,300 and subsequent rise higher, describing the retreat on July 21 as a good development. Rekt Captial said: “Though #ETH could just continue higher to reach the upper orange region, it would be healthier for ETH to dip. Such a retest of the lower orange area would only increase probability of continuation.” With this outlook in mind, the pullback on July 21 raises the prospect of a rise to $1,700 soon. Related Reading | Ethereum Merge: How ETHBTC Could Hint At A Return Of Risk Appetite Vitalik Hints At Future Of ETH The co-founder of Ethereum detailed his plans for future developments on Thursday at the Ethereum Community Conference in France that go far beyond the network’s switch to proof of stake. The upgrade—often referred to as “the merge” since it will integrate the Ethereum mainnet with the proof-of-stake beacon chain—is actually the first in a series of modifications that are being planned. Ethereum will then go through additional improvements that Buterin refers to as the “surge,” “verge,” “purge,” and “splurge” after the merging, which he believes is extremely close because “the only thing left to do is do a merge on Ropsten [test network],” he said during the conference. Buterin mentioned a goal to strengthen the Ethereum network being the reason behind the network continuous updates. Ethereum will only be about 55% complete after the integration, which is anticipated to be finished this September. The surge is due to the addition of Ethereum sharding, a scaling solution that, according to the Ethereum Foundation, will make layer-2 blockchains even more affordable, reduce the cost of rollups or bundled transactions, and make it simpler for users to run nodes that protect the Ethereum network. Buterin added that following the spike Related reading | Ethereum Cruised Past $1500, Is There A Possibility To Retrace To $1200? Featured image from Shutterstock, chart from TradingView.com

A lucky player wins a 3 bitcoin jackpot on a newly released live casino game at Bitcoin.com’s crypto casino. Over 15 Players Make More on Casino Games Than They Would on The Market A Rewarding Month for Casino Players The month of July has turned out to be extremely lucky for those 15 players who […]

Bit2Me, the first crypto exchange recognized by the Bank of Spain as a virtual currency service provider, announced it has acquired Fluyez, the first Peruvian cryptocurrency exchange company. Fluyez, which has the endorsement of the Peruvian Fintech Association; has only been present in the domestic market for a little over a year, and has already…
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blackfridge, a blockchain financial company & issuer of Poundtoken (GBPT), announced it has integrated the stablecoin on crypto RegTech provider Coinfirm’s AML platform. Integrating Poundtoken to the blockchain-agnostic AML platform aims to ensure that financial institutions and VASPs are able to be in full compliance with the FATF’s guidelines, 6AMLD, and other supranational and national…
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