CRYPTO NEWS: Latest BITCOIN News, DEFI News, ETHEREUM News
Bitcoin Gains Momentum, But This Resistance Is A Major Problem
Bitcoin price is rising steadily
After closing above the $ 10,550 resistance, the bitcoin price began to move in a positive trajectory against the US dollar. BTC even broke through the $ 10,650 and $ 10,700 levels to continue to rise.
Bitcoin price is currently correcting lower and trading around $ 10,900. Initial support is near the $ 10,860 level, or 23.6% of the Fibonacci
OCC’s Stable Currency Statement Is the Seed of Financial Innovation
This announcement could encourage banks to actively seek out stablecoin businesses.
The Office of the Comptroller of the United States issued a statement earlier this week that national banks may provide services to US stablecoin issuers.
The OCC is signaling to banks that stablecoin activity is legal and that reserve accounts will be offered the same federal protection as any other.
This can stimulate banks to actively search for stablecoin business and thereby expand both their client base and their share in the crypto markets.
OCC Stable Currency Statement.
Projects React Differently To $ 200 Million KuCoin Hack
KuCoin said at least $ 129 million in impacted funds is “safe.”
Following news of a security breach that resulted in over $ 200 million worth of KuCoin tokens, many projects quickly reacted to prevent users from transferring funds to other exchanges.
KuCoin Global CEO Johnny Liu revealed that at least $ 129 million of the tokens affected by the hack and the affected Bitcoin, Ether and ERC20 hot wallets were “safe” or recoverable.
Hacking $ 200 Million KuCoin
Optimism in favor of Ethereum when launching a Layer 2 testnet.
Scaling solutions are badly needed and are being tested on a new testnet this week.
Layer 2 scaling developers at Plasma Group recently announced the launch of their Optimistic Ethereum testnet, which will be deployed on projects to test much-needed scaling solutions.
Basically, Layer 2 scaling involves taking the work off the root chain for faster data and transaction processing. The team created a system called OVM, a fully functional Ethereum virtual machine compatible runtime designed for L2 systems.
Optimistic Ethereum testnet launch
Largest Coin Maker DeFi, Composite Connections & More Down 5% Despite Positive Basics
It was a great day for Bitcoin, but not for DeFi coins.
After stagnating at around $ 10,700, BTC surged to a local high of around $ 10,950, the highest price in about a week. On the other hand, decentralized finance coins have dropped.
According to CoinGecko data, some of the best DeFi coins have lost around 5% in the last 24 hours.
This is happening despite the fundamental underpinnings of the DeFi space continuing to solidify: DeFi Pulse reports that there are over $ 11 billion worth of value in decentralized financial applications. At the beginning of the year, this very figure was much closer to $ 500 million and even lower than at the beginning of 2019.
DeFi Coins Down 5%
Top maker Uniswap As Blocked ETH Approaches 3 Million
This week, Uniswap became the first DeFi protocol to hit $ 2 billion in liquidity.
Decentralized exchange Uniswap has come a long way this year. It has grown by a whopping 16,500% since early 2020 in terms of collateral blocking and now has more Ethereum liquidity than DeFi stalwart MakerDAO.
Uniswap now owns 2.9 million ETH, or 2.6% of the total circulating supply. That was enough to allow DEX to flip Maker, which currently has 2.8 million ETH locked.
Uniswap reaches $ 2 billion in liquidity
Bitcoin network in circulation exceeds 18.5 million BTC
Bitcoin Supply Reaches Another Major Milestone At Over 18.5M Coins
According to CoinMarketCap data, the total amount of bitcoins in circulation has exceeded the important milestone of 18.5 million coins.
88 percent of all coins that will ever be in circulation have already been mined.
The first Bitcoin block, known as the “genesis block,” was mined by Satoshi Nakamoto, the pseudonym for the creator of the world’s largest cryptocurrency, on January 3, 2009.
Bitcoin network exceeds 18.5 million BTC
Bitcoin balances on exchanges at 2-year lows, which could be a bullish signal
Bitcoin balance on major exchanges fell to its lowest level since November 2018.
According to Glassnode, the last time bitcoin exchange balances were so low was in November 2018. The Bitcoin Cash hard fork this month could also cause a drop in bitcoin balances on exchanges, as some holders transferred their bitcoins to private wallets in order to receive new tokens from the fork.
Low bitcoin balances on centralized exchanges do not necessarily mean a bearish market trend. In fact, it may reflect the optimistic outlook of bitcoin holders who are moving towards long-term retention strategies like cold wallets, Glassnode reported on Twitter.
Bitcoin balance on exchanges fell