Over the last 48 hours, Bitcoin (BTC) price climbed from $31,000 to $34,800 before reversing course and dropping the majority of these gains. While this $3,800 shift to the downside might not seem significant, the 12% oscillation liquidated $660 million worth of futures contracts. While it’s unlikely that there will ever be a definitive answer behind the move, on Jan. 25, President Joe Biden voiced his willingness to lower the $1.9 trillion stimulus package. This might have reduced incentives for those buying BTC as an inflation protection or a hedge against U.S. dollar devaluation versus leading global currencies. Shorter-term charts …

A new report by CoinShares suggests Bitcoin (BTC) has garnered 97% of the total crypto inflows in 2021. The recent correction in Bitcoin price does not seem to have deterred crypto investors as CoinShares data shows a record $1.3 billion in crypto product inflows over the past week. This suggests that investors are accumulating on the dips rather than attempting to chase higher prices. Another space that has taken giant strides in the past few months has been the decentralized finance sector. While bond yields across the world are reeling near-zero levels, the attractive yield farming opportunities in DeFi and …

Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the top 10 largest Bitcoin (BTC) mining pools in the world. The firm's CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry will soon break into the top five mining pools list. At publishing time, Foundry has a total hash rate of 2.74 exahashes per second, according to data from block explorer BTC.com. The mining pool is responsible for 1.85% of the total global hash rate. The news comes shortly after Silbert announced that global Bitcoin miners will be able to join the …

After dropping 27% over three days, Ether (ETH) price finally reached a bottom at $1,040 on Jan. 22. The sharp correction liquidated $600 billion worth of future contracts but interestingly, Ether price rebounded to a new all-time high even as Bitcoin price continues to trade in a slight downtrend. According to Cointelegraph, the increasing TVL and transaction volumes of the decentralized finance sector are behind Ether’s impressive surge. To determine whether the recent pump reflects a potential local top, we’ll take a closer look at on-chain flows and derivatives data. Exchange withdrawals point to whale accumulation Increasing withdrawals from exchanges …

The website of the world’s largest cryptocurrency exchange, Binance, is no longer formally blacklisted in Russia, according to a new court ruling. According to a Jan. 21 report by Russian news agency Kommersant, the Arkhangelsk Regional Court has annulled a previous decision to blacklist the Binance website in Russia. Gleb Kostarev, Binance’s head of operations for Russia and the CIS, confirmed the news to Cointelegraph, stating that the court hearing took place on Jan. 20. The latest court decision reverts a previous ruling made in 2020. In September, Binance announced that its website came on the list of prohibited websites …

Ether’s (ETH) performance over the past week has been nothing short of exceptional. The price rallied from a $905 low on Jan. 11 to a new all-time high at $1,440 on Jan. 19. According to Cointelegraph, the main reasons fueling this move are the growth of decentralized finance (DeFi) protocols as the total value locked reached $24 billion, Ethereum daily transactions surpassing 1.2 million and Bitcoin (BTC) price consolidating below $40,000. Nevertheless, the latest leg of Ether’s rally on Jan. 19 presented a different dynamic from the previous breakouts. A much use of derivatives leverage has been deployed this time …

Over the past 6 months, Binance Coin (BNB) has been quietly rallying higher, gaining 189% during this period and notching a new all-time high at $46.90 on Jan. 18. This price peak happened just one day before its quarterly token burn, leading investors to question whether or not BNB price will move higher once the event concludes. A token burn is a permanent removal of coins from circulation and this deflationary technique is a common practice used by many projects in the crypto sector. As Cointelegraph reported, the process does not destroy the coins but rather renders them unusable. Aside …

Decentralized finance platform Gnosis is now the third-largest holder of the Ether (ETH) coin supply. Gnosis’ multisignature storage solution, Gnosis Safe, received a deposit of 1,500,000 ETH on Thursday — worth over $1.7 billion at the time of the transaction. While a little over a month old, the vast majority of the ETH in the Gnosis safe appeared in the past 24 hours. Up until a few days prior, the address contained just 250,001 ETH. But a 600,000 ETH ($677 million) transaction on Wednesday, followed by Thursday’s, sent Gnosis from 32nd to third among Ethereum’s largest custodians. These two deposits …

Israel-based exchange platform eToro is struggling to keep up with the demand from crypto traders according to an email sent to users earlier today. “The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support BUY orders over the weekend.” As a result, the platform is warning of “possible limitations to crypto BUY orders” and that “spreads on crypto assets may also be much wider than usual.” @MatiGreenspan I know you have a mega position on $BTC on eToro, A sat for your thoughts. pic.twitter.com/Xt12bAJGxJ — CRYPTO KOALA (@Cryptokoala_Aus) January 13, 2021 EToro has become …

Orbs, an Israeli blockchain company building a public blockchain infrastructure project, and Binance announced Monday the launch of a new accelerator for the DeFi ecosystem. Named DeFi.org, the accelerator focuses on supporting the research and development of open-source software and community development in the DeFi space. The accelerator will evaluate projects based on their innovativeness and composability within the space, as well as principles of fair distribution, community ownership, sustainable economics and a sound approach to risk management. Participants receive benefits including mentorship, the opportunity for funding and exposure to the market and DeFi community. The accelerator’s mentors initially include …

A tokenized hardware wallet has been backed by Binance for the first time — and the company behind the product says it offers a number of advantages over competitors. SafePal offers secure storage for major cryptocurrencies such as Bitcoin and Ethereum, is ideal for DeFi enthusiasts, and also supports tokens issued on the Binance Smart Chain. And with nonfungible tokens becoming increasingly popular in recent months, SafePal’s S1 wallet also enables ERC-1155 and ERC-721 assets to be kept safe. Hardware has become a more attractive proposition for cryptocurrency owners after a series of high-profile incidents on exchanges in recent months. …

The blockchain industry shrugged off the craziness of the 2020 pandemic, with many companies thriving in the “remote” working environments brought about by COVID-19. Almost $700 million in mergers and acquisitions took place in 2020 across 83 transactions. That’s the largest number ever and a sizeable increase from the previous record of 69 M&A transactions in 2018. The majority of activity last year was within the industry itself, consolidating the sector with minimal engagement from external companies. More than 90% of the $691 million reported was comprised of the top three acquisitions by Binance ($400 million), FTX ($150 million) and …