Grayscale Investments could be set to launch a raft of new products including a Chainlink trust, if freshly unearthed filings are to be believed. According to the State of Delaware’s Division of Corporations, someone set up Grayscale Chainlink Trust on Dec. 18, 2020. On the same day, a Basic Attention Token (BAT) trust, Decentraland (MANA) trust, Livepeer (LPT) trust and a Tezos (XTZ) trust were also initiated. Before these communities get too excited, Grayscale Investments has yet to officially confirm it is behind the filings. Some reports have cast doubt on their legitimacy, as the registered agent for the trusts …

A recent report from CoinMetrics suggests that when a new altseason starts it will play out in a way that is vastly different from the market of 2017-2018. According to the authors of the report, the arrival of institutional investors and their interest in Bitcoin (BTC) and Ether (ETH) has fundamentally shifted the cryptocurrency market landscape. Tokens with real world utility, Layer 2 technology or attractive staking ecosystems will outperform the large cap tokens from pre-2017. Bitcoin and Ethereum dominate but L2 tokens will catch up Institutional inflows firmly established Bitcoin and Ethereum as the chosen Layer 1 (L1) blockchains …

When an asset is in an overbought condition and traders are sitting on large profits, even minor negative news and events could trigger profit-booking. This seems to have happened following Janet Yellen’s adverse comments on cryptocurrencies during a virtual hearing with the U.S. Senate Finance Committee. In the same meeting, Yellen also told Congress to “act big” in order to support the U.S. economy. Another round of stimulus would probably further weaken the U.S. dollar and drive investors into assets that are considered as a store of value. This means Yellen's comments may have inadvertently boosted the sentiment surrounding gold …

COTI, a blockchain-powered fintech startup, has launched a new cryptocurrency index enabling traders to profit from the market volatility. The new Crypto Volatility Index, or CVI, brings the traditional “market fear index” to the crypto market, allowing users to deposit and open positions with Tether (UDST). Gibraltar-based COTI explained that the new index allows traders to open CVI positions for high and low volatility. “Users who expect volatility to increase can open a CVI position. If correct, they can take profit by selling their position once the index has risen,” COTI wrote. In contrast, traders who expect volatility to remain …

According to crypto market data aggregator Glassnode, Chainlink’s (LINK) token distribution is at record levels of centralization — with more than 80% of LINK not held on exchanges currently residing in the top 1% of Chainlink wallets. Glassnode’s research found that 81% of LINK not held on crypto exchanges of smart contracts is currently stashed away in 125 wallets, with the number of tokens held by Chainlink’s whales steadily increasing over the past two years. When including the tokens held on exchanges and in smart contracts that Glassnode’s data excluded, the centralization of Chainlink’s token distribution appears extreme — with …

Investors are beginning to worry that Bitcoin’s (BTC) uptrend could be in peril after the top-ranked cryptocurrency failed to pull above the $40,000. Some traders are afraid that a repeat of the crushing 2018 bear market is on the cards again if BTC fails to find bullish momentum. However, a study of both the bull markets shows distinct differences that are noteworthy. Research from Pantera Capital found that after the current bull move, 86% of the crypto market's value is concentrated in Bitcoin and Ethereum, largely because institutional funds have flowed into each cryptocurrency. In 2017, the top two coins …

Chainlink (LINK), the oracle-focused blockchain protocol, surpassed Bitcoin Cash (BCH) to become the eighth-biggest cryptocurrency as of Jan. 18. The market capitalization of Chainlink now hovers at $9 billion and roughly $500 million away from the next biggest crypto asset, Litecoin (LTC). Why is Chainlink surging so rapidly? The price of Chainlink rose by 13% in the last 24 hours and the momentum of LINK likely comes from the positive sentiment around DeFi. The DeFi market as a whole has been rallying strongly throughout recent months with AAVE and SUHI being the most recent standouts. The uptrend can be attributed …

Bitcoin (BTC) price has yet to recapture the $40,000 level and traders who were expecting a quick resumption of the uptrend may have been caught off guard by the recent pullback. This could have led to the liquidation of about $500 million worth of cryptocurrency futures positions in the past 24 hours. Over leveraged positions provide the necessary ammunition during the uptrend, but they become a liability when the trend reaches an inflection point. When the markets turn down, leveraged long positions quickly turn into a loss, resulting in margin calls from brokers. When the margin requirements are not met, …

Calls for Bitcoin (BTC) to rally above $40,000 were dashed as the top cryptocurrency hit a wall of resistance which sparked a sell-off in the early trading hours. Data from Cointelegraph Markets and TradingView show the price of BTC fell as low as $34,368 before rebounding to its current price of $37,300. It’s possible that the excitement surrounding the announcement of a $1.9 trillion stimulus bill from the incoming Biden administration quickly morphed into a buy the rumor, sell the news event as questions begin to emerge on the feasibility of parts of the bill. Bitcoin’s dip also comes after …

Grayscale products witnessed $3.3 billion in inflows in the fourth quarter of 2020, a large jump over the $1.05 billion seen in the preceding quarter. According to Grayscale, institutional investors accounted for 93% of the new investments. The significance and magnitude of the investments can be gauged from the fact that in 20, Grayscale received $5.7 billion in investments, which is four times the cumulative inflow between 2013 and 2019 Data from Glassnode also shows that since July 2020, only about one-third of the 900 Bitcoin (BTC) mined each day have made their way to exchanges. During that period, Grayscale …

The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have not reacted to the recent fall in Bitcoin’s price. This suggests that large investors are bullish on Bitcoin for the long term rather than looking to make a quick gain. An important element in the recent rally is many of the purchases have come from institutional investors who were critical of Bitcoin in the past. The list is likely to …

After an incredible run-up to nearly $42,000, Bitcoin (BTC) price finally entered a significant correction, and at the time of writing the price is down by about 18%. While the swift drop to $30,402 may not induce sleepless nights from the HODLer crowd, large drops like the one seen over the past 24-hours can easily blow up a leveraged trader's portfolio. The sharp downside move also threatens to wipe out a large portion of the gains accrued over the past few weeks. Data from Bybt indicates that over $2.7 billion worth of futures contracts has been squared off in the …