Data from Grayscale Investments shows that the firm’s assets under management soared from about $1.9 billion at the end of 2019 to over $3.5 billion by the end of June 30, 2020. The correction in the U.S. dollar (DXY) and the possibility of further weakness due to continued money printing by the U.S. Federal Reserve could be one of the main reasons for the surge in institutions investing in Bitcoin (BTC). Interestingly, about 40% of the Bitcoin accumulated over the past two years has not been moved, which suggests that investors are “HODLing” their purchases as they anticipate higher levels …

Chainlink rallied another 4% today, maintaining its place as the fifth largest crypto asset by market cap — but are investors starting to become skittish? According to on-chain analytics resource Santiment, Chainlink (LINK) investors may be “becoming increasingly uncertain in its prolonged rally.” Santiment reported that though there weren’t “many bearish indicators or signs of an impending top” for LINK as of last week, that may no longer be the case. The number of LINK deposits into crypto exchanges reached an all-time high (ATH) of 8.2 million, the same day the token reached an ATH price of roughly $15. LINK …

On August 11 MicroStrategy, the world’s largest publicly traded business intelligence company, announced that it had ditched fiat currency and built its primary treasury reserve with Bitcoin (BTC). The company’s CEO Michael J. Saylor believes that the coronavirus pandemic and the stimulus measures enacted to counter it will cause “a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types.” Saylor further explained that Bitcoin “is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” Daily cryptocurrency market performance. Source: Coin360 On similar lines, …

Timothy Peterson, a chartered alternative investment analyst, says Chainlink (LINK) token could be valued at $32 by the end of 2020. Peterson’s comments come just days after LINK rallied by 88% over the course of two weeks. The explosive growth of the Decentralized Finance (DeFi) market is thought to be one of the primary factors that spurred the demand for oracles, like Chainlink and Band Protocol (BAND) and data from Defi Pulse shows that since June, the total value locked in DeFi protocols surged by four-fold. Chainlink has upside potential, but its growth is priced in In the long-term, Peterson …

This week Bitcoin (BTC) price is making waves as the digital asset finally pushed above the $12K mark, but prior to this move, altcoins have been strongly outpeforming BTC for weeks. Two of the most notable performers are Band Protocol (BAND) and Chainlink (LINK) as both surged by 348% and 88% in the past ten days. Each functions as an oracle blockchain network that supplies data to Decentralized Finance (DeFi) applications. Since the start of August, BAND price rose from $3.9 to as high as $17.78 and in the same period, LINK surged from $7.6 to $14.45 at its peak …

Traders prefer to trade a trending market, as it generally moves in one direction and the retracements offer low-risk entry opportunities. This is because a trade that follows the major trend carries a greater possibility of earning profits than one in a volatile market. As several cryptocurrencies started a trending move in July, web traffic to the crypto exchanges also increased by 13%, according to data from ICO Analytics. Daily cryptocurrency market performance. Source: Coin360 The derivatives market also comes alive when the underlying market is trending as professional traders use leverage to make quick profits using the futures and …

Chainlink (LINK) price continues to set new records as the DeFi-related token surged 52% to reach a new all-time high at $13.8799 today. Over the last 24-hours, LINK has surged by 52%, rallying from $9.05 to as high as $13.8799 on Binance exchange. LINK-USDT daily chart. Source: TradingView.com As Chainlink demonstrated a strengthening uptrend, its competitor Band Protocol (BAND), which also operates as a network for oracles, spiked 50% to reach a new all-time high at $12.44. What’s behind the Chainlink rally? The sudden uptrend of LINK was likely caused primarily by the squeeze of short contracts in the futures …

The United States Federal Reserve has been contemplating a change in the way it responds to a possible increase in inflation. Previously, the Fed would kickstart tightening if its models forecast a 2% inflation increase. However, this time, the Fed wants to allow inflation to stay above its 2% target before raising rates. Morgan Creek’s Anthony Pompliano believes that due to Fed’s poor track record with inflation targets, it might end up stoking “inflation at the exact moment that they should be reigning it in.” Pompliano anticipates “real estate, gold, Bitcoin and stocks” to rally much higher than the current …

Band Protocol (BAND), a rival blockchain network to Chainlink (LINK) — which is also at an all-time high — surged by 65%. Within 24 hours, BAND rose from $4.825 to $8, setting a new record high. Three major catalysts appear to have triggered the rally of BAND, namely the DeFi (decentralized finance) boom, Coinbase listing and new partnerships. The daily chart of BAND. Source: TradingView.com DeFi boom Since June 1, the total value locked in DeFi protocols increased from $1.04 billion to $4.47 billion. The valuations of DeFi-related project tokens has risen substantially as the capital involved in the DeFi …

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 Bitcoin above the $10,000–$10,500 zone could spark further interest among traders. Twitter personality Dave Portnoy has shown interest in knowing about Bitcoin trading from the Winklevoss twins. If Portnoy can influence his followers, then several new traders are likely to enter the crypto space. However, …

Without a doubt, one of the best-performing cryptocurrencies in the past few years is Chainlink (LINK). In recent days, the cryptocurrency surged from $6.80 to $9.30 capping a 40% percent move and becoming the number nine cryptocurrency by market capitalization. Can Chainlink continue moving upward and even reach the magical number of $10 or higher? Crypto market daily performance. Source: Coin360 Chainlink rallies with 41% since the crash last weekend As most of the cryptocurrencies saw a massive crash at the weekend, Chainlink did the same. The price of Chainlink dropped from $8.75 to $6.90, all the way toward the …

On Aug. 2, the total crypto market capitalization dropped from about $359 billion to $310 billion within a few minutes of Bitcoin's (BTC) price surging above the $12,000 mark. A fall of such magnitude usually drives away the bulls, or at least keeps them at bay, until the market stabilizes — but that is not what happened. The bulls aggressively purchased the dips, which led to a sharp recovery, suggesting that the sentiment is bullish and traders expect the rally to continue in the next few days. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, Goldman Sachs is bullish on gold …