At various points throughout 2020 Bitcoin (BTC) was correlated with gold. During these phases BTC was acting as an uncorrelated asset, but now it has become highly correlated to the S&P 500. This suggests that the top-ranked cryptocurrency on CoinMarketCap has been finding acceptance among various groups of traditional investors during different stages of the current coronavirus pandemic induced economic crisis. Crypto market data daily view. Source: Coin360 Bitcoin’s volatility has dropped in the past few days but select altcoins have been rallying sharply, prompting analysts to predict that a new altcoin season has arrived. If Bitcoin shakes out from …

Alternative cryptocurrencies, or altcoins, have started to record large gains across the board. Some small-cap coins have seen triple-digit percentage gains in recent weeks. But several larger-cap cryptocurrencies have also been posting serious gains such as VeChain (VET), Stellar (XLM), Cardano (ADA) and Chainlink (LINK). Cryptocurrency market performance in the past 7 days. Source: Coin360 Top ten top performers in the crypto market in the past week In the past week, VET, XLM, ADA, ALGO, LINK, BSV, ATOM, XRP, CRO and ETC outperformed the rest of the market including Bitcoin, which gained just 1.13% during the period. The chart below …

Retail and enterprise blockchain adoption trends dominated the discussions on days three and four of the ongoing virtual conference Unitize, organized by BlockShow and San Francisco Blockchain Week and sponsored by crypto derivatives exchange ByBit. The key topic that dominated discussion was blockchain adoption, which continues to spread across the globe, with governments and corporate establishments developing solutions based on distributed ledger technology. Exploring the blockchain development landscape Speaking during one of Wednesday’s panels at the conference. Yi Ming Ng, a member of the Tribe Accelerator project in Singapore, and Marloes Pomp, a blockchain consultant with the Dutch government, shed …

Enterprise adoption of smart contracts and blockchain technology is coming to a head soon, according to Chainlink CEO Sergey Nazarov and Interwork Alliance President Ron Resnick. The pair were members of a Unitize 2020 panel earlier today and said they were optimistic that we are moving forward at an exciting rate with both enterprise adoption, and regulation and government acceptance of the technology. However they couldn’t say if 2020 will prove to be a turning point in adoption. “Compared with a few years ago,” Nazarov stated, “there are more and more people that are ‘fast followers’ just waiting for a …

Altcoins have been taking the spotlight as massive surges are seen across the board. Some have been making 1,000% moves or more such as Aave (LEND) and Zilliqa (ZIL), for example. Others are slowly waking up out of the ashes, and some are printing new all-time highs. One of those recent all-time highs is Chainlink (LINK), as its price broke above $5 for the first time ever. Once Chainlink moves, Tezos (XTZ) follows. Will it be the same this time? Crypto market daily performance. Source: Coin360 Chainlink breaks above resistance and prints a new all-time high LINK/USDT one-day chart. Source: …

Major cryptocurrency exchange Huobi will integrate their price data with Chainlink’s ecosystem in an effort to improve its own data integrity and provide more accurate price information. While Binance was the first major exchange to provide their data to Chainlink oracles in October 2019, Huobi has gone one step further by running its own node on the system through Huobi Wallet. This allows the exchange to sign its own price data allowing users to confirm that any exchange data coming from the Huobi Node is authentic and direct from the source. Huobi Wallet CEO Will Huang stated: “DeFi offers a …

According to the latest report from Flipside Crypto, Chainlink is spending one million LINKs a month rewarding node operators, outspending Ethereum by a wide margin. Chainlink’s aggressive expansion The researchers observed that 500,000 Chainlink (LINK) are sent to node operators twice a month. Flows of LINK tokens within the crypto ecosystem. Source: Flipside Crypto. At current prices, this support constitutes almost $5 million dollars a month or close to $60 million annually. At the same time, the Ethereum Foundation is expected to spend $30 million this year. Meanwhile, Ether’s (ETH) market capitalization is roughly 15 times that of Chainlink. This …

Coronavirus cases across the globe topped 10 million today and the number of new cases in the U.S. has risen to new records in the past few days. This has put the economic revival in jeopardy as equities markets could face selling pressure. Meanwhile, safe haven assets like gold continue to perform well. Crypto market data daily view. Source: Coin360 Earlier this week Bloomberg analyst Mike McGlone said that the drop in Bitcoin’s (BTC) volatility has resulted in tightening of the Bollinger Bands, a popular technical analysis indicator used by many traders. McGlone expects that the top-ranked cryptocurrency on CoinMarketCap …

Chainlink (LINK), a smart contract blockchain network, is nearing an all-time high after the altcoin broke out today, notching a 11% gain at the time of writing. The altcoin first hit a record high at $5.10 in July 2019 before crashing to $1.35 during the Black Thursday marketwide correction on March 12. Over the past two weeks LINK has gained 33% and if the price pushes above its previous all time high there is room for price discovery. Crypto market daily performance. Source: Coin360 Three factors likely triggering LINK’s upsurge are: bullish price action from Ether (ETH), LINK’s bullish technical …

China’s Blockchain Service Network (BSN) is integrating Chainlink’s (LINK) oracle service into its ecosystem. BSN was recently formed by China’s State Information Center, China Mobile, China Unionpay, and Red Date Technologies. The goal of this consortium is to build infrastructure that will lower the entrance barriers to blockchain technology. Blockchain was too expensive Yifan He, CEO of Red Date Technology and BSN co-founder, told Cointelegraph that when his company first started experimenting with blockchain technology, he was excited about the new capabilities it enabled, but was appalled by how expensive it was: “We really saw the upgrade from the Internet …

Chainlink’s price oracles are continuing to see widespread adoption among decentralized finance, or DeFI, protocols, with Kyber Network (KNC) integrating the price feeds on its KyberSwap token swap service on June 12. KyberSwap is at least the third DeFi platform to integrate Chainlink’s price data this month, signposting Chainlink’s increasing dominance over the niche market. Price references displayed for token swaps on the platform now derive from both Kyber Network’s native feeds and Chainlinks oracles. KyberSwap integrates Chainlink’s price data A blog post published by KyberSwap describes the integration as protecting users executing token swaps from slippage while safeguarding against …

The co-founder of cryptocurrency analysis company Blockfyre believes that a bull run will return, propelling Bitcoin (BTC) to a price of $150,000. In a tweet on Thursday, Simon Dedic suggested that these gains will not be reflected across the entire cryptocurrency market, although the more solid altcoins should also see impressive price action. No return to the cryptomania of 2017 Bitcoin’s dizzying ascent to its current all-time high of almost $20,000 in December 2017 came complete with a media frenzy around all things crypto. Coupled with a boom in initial coin offerings and fuelled by investor FOMO — the fear …