Markets

Bittrex and Poloniex Move for Summary Judgment in Market Manipulation Case

Attorneys representing cryptocurrency exchanges Bittrex and Poloniex notified Judge Failla of the Southern District of New York Friday of their intention to move for summary judgment in a class action case that alleges they, along with Tether and Bitfinex, were involved in fraud and market manipulation, according to court filings. Disclosure The leader in blockchain …

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Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move

Bitcoin’s price is trending down and an Ethereum competitor is entering the DeFi race this weekend. Bitcoin’s price was able to rally to as high as $11,917 Friday before losing momentum, falling back into the $11,500 range. “Over the past day, bitcoin tested the level of $11,900 but it did not succeed, and BTC slipped,” …

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Riot Blockchain Ends Week Up 29%, Hits 2020 High Ahead of Q2 Earnings Report

Riot Blockchain, one of the few publicly traded bitcoin mining companies in the U.S., closed trading Friday with its second largest weekly gain since April 2019 ahead of the firm’s Q2 earnings release next week. The gain marks a continuation of the stock’s rally that started mid March after the market’s crash. Disclosure The leader …

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Iran One-Ups the United States? Tehran Seeks Crypto Mining Dominance

Crypto mining in Iran is set to become even bigger with the government giving the green light for power plants to mine cryptocurrencies like Bitcoin (BTC). The news is the latest piece of positive development on the virtual currency mining front to come out of the country in the last year. Since legalizing crypto mining …

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Winklevoss: US Dollar Is Now a ‘Funny Money’ Endorsement of Bitcoin

The United States’ failure to agree on Coronavirus stimulus shows that the dollar is “funny money” and endorses Bitcoin (BTC), says Cameron Winklevoss. In a tweet on Aug. 6, the Gemini exchange co-founder delivered a damning appraisal of the lack of progress in Washington to deliver more financial aid. A “wake-up call and endorsement of …

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Market Wrap: Bitcoin Breaks $11,800; Ether Options Market Explodes

Bitcoin continues its rebound this week after Sunday’s crash. Meanwhile, the ether options market suggests a roller coaster ride ahead for the world’s second largest cryptocurrency. It’s been a positive week for bitcoin so far. The world’s oldest cryptocurrency is continuing its rebound from a Sunday price crash, appreciating 12% on a bullish run that …

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First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year

Bitcoin prices surged 5% on Wednesday, outpacing stocks and gold amid calls for more government stimulus, as the economic toll of the coronavirus mounts. The oldest and largest cryptocurrency rose to $11,755. The price is now approaching $12,000 for the second time in a week, a level that bitcoin hasn’t sustainably traded above for more …

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Bitcoin Whales Bought the Dip, Data Shows as $1.2B Leaves Exchanges

Bitcoin (BTC) exchanges lost 100,000 BTC during the weekend’s price crash, data shows — and that’s a bullish sign. Figures from on-chain monitoring resource CryptoQuant on Aug. 5 tracking exchange balances show a dramatic drop occurring just after BTC/USD shed $1,200 in minutes. BTC exchange reserves hit major lows Prior to the turbulent weekend’s trading, …

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Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate

Bitcoin gained Wednesday while DeFi interest rate volatility is causing concern over its long-term viability. Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase.  “I think we’ll hit $12,000 by Friday. There’s a lot of momentum in the market just now,” said …

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Price Analysis 8/5: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, LINK, CRO

Square’s Cash App product has generated $875 million in revenue from Bitcoin (BTC) trading in the second quarter of this year. This is a 600% increase over the comparable quarter in the previous year. This shows increased trader interest, which could have been spurred by the cash heavy “government stimulus programs.” The recent breakout of …

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