When the price of an asset does not reverse direction from a critical resistance, it indicates that some traders are holding onto their positions in anticipation of a breakout. For the past month, Bitcoin (BTC) has been repeatedly revisiting the $10,000 levels and even though the bulls have not been able to sustain above this level, they have not given up much ground either. This suggests that traders are accumulating on dips and not closing their positions at $10,000. This is a bullish sign and it increases the possibility of a breakout above the resistance in the short-term. Crypto market …

Forthcoming Seychelles-based crypto derivatives trading exchange Digitex Futures has announced it will integrate Chainlink’s (LINK) decentralized price reference contracts on its platform. Chainlink's decentralized price oracles are typically utilized by decentralized finance (DeFi) applications. With the integration, Digitex claims to comprise the first centralized crypto futures exchange to decentralized oracles. The integration will be used as an anchor to detect internal deviations over a defined percentage. Chainlink describes its price feeds as “security reviewed, sybil resistant, fully independent.” The index is informed by “a variety of trusted spot market sources.” Digitex integrates decentralized price feed Digitex asserts that the price …

The institutional interest in Bitcoin (BTC) has increased in the past few months, according to data from Grayscale Bitcoin Trust. If the trend continues at the same pace, by March 2021, GBTC would have purchased 75% of the newly mined Bitcoin during the period. By that time, its total holding of the top-ranked cryptocurrency on CoinMarketCap would increase to 3% of the total circulating supply. If this happens, it could be a huge sentiment booster for investors who believe institutional investment is the key for mass adoption. Crypto market data daily view. Source: Coin360 Reddit co-founder Alexis Ohanian has said …

On May 11, Chainlink (Link) announced the launch of a verifiable random function (VRF) that enables generation of on-chain trusted randomness. Ii is undergoing security review on the testnet where it is available for integration testing. Initially, it will work with the Ethereum (ETH) blockchain. Benefits to gaming Although this may sound like something that only mathematicians or rocket scientists would care about, it has quite a few very practical applications. Chainlink’s co-founder and CEO, Sergey Nazarov, speaking to Cointelegraph, pointed out how it would solve some of the problems inherent to gaming: “In blockchain gaming, the thesis is that …

A Chainlink (Link) node provider is launching an “unstoppable” domain with oracalized crypto price feeds. Vulcan Link is placing Chainlink’s crypto price feeds on a ".crypto" domain. The domains are sold by Unstoppable Domains and reside on the Ethereum blockchain which should make them censorship-resistant. Although Chainlink’s price feeds are decentralized, companies like Vulcan Link have to rely on centralized domain registrars like GoDaddy and centralized hosting services like Google or Amazon Web Services for their own websites. Theoretically, their website could be turned off at any time. Unlike a ".com" domain, users can purchase a ".crypto" domain outright. As …

When Bitcoin (BTC) goes down, Chainlink (LINK) and Tezos (XTZ) go down. But when Bitcoin starts to move upwards, a much bigger move can usually be expected from these two coins as well. As Bitcoin hit a temporary bottom yesterday at $8,450, so did Chainlink and Tezos, which are ranked 12th and 10th by market capitalization, respectively. Crypto market daily performance. Source: Coin360 Chainlink hitting must-hold support and bounces Chainlink has been hovering between a narrow range, as the $3.85-4 level is seen to be a resistance level while the $3.40-3.50 level can be confirmed as support. As the price …

Is Bitcoin’s current rally just a bull trap, or is it actually headed for the moon? Trader Alessio Rastani and co-founder of Wintermute Trading, Yoann Turpin, explain why Bitcoin’s upward momentum may be impulsive in nature rather than corrective. Don’t miss the latest episode of Cointelegraph’s crypto market discussions for further analysis of the long term future of Bitcoin and a glance at which altcoins are looking promising at the moment! Bitcoin to Keep Going Higher? Rastani is a believer in Elliott Wave Theory. According to Investopedia, Elliott Wave Theory is a method of technical analysis that identifies impulsive and …

Two leading Tezos (XTZ) teams, SmartPy and Cryptonomic, are making Chainlink (Link) oracles natively available on the Tezos network. The two teams received a grant from the Tezos Foundation to integrate Chainlink oracles into Tezos smart contracts. Cryptonomic co-founder Vishakh told Cointelegraph that their work has filled a key missing link within the Tezos ecosystem: “Most of our core team has worked in finance for multiple years, especially derivatives finance. We’ve worked on mission-critical systems that handle very high notional financial trades. So that's why we're really attracted to Tezos because of on-chain governance and formal verification. But one missing …

A venture capitalist believes that Link could soar above $25 and overtake the current market cap of Ethereum (Ether). Michael Anderson, co-founder of Framework Venture and an early Chainlink (Link) investor, in a Cointelgraph interview, shared his optimism for the project that seeks to decentralize data. He believes that within a relatively short period of time, Link could soar above $25: “Anything over twenty five dollars I think is not unreasonable to assume”. Adding that he perceives Chainlink’s service as an “insurance policy”: “I would put it on par with about the size of Ethereum [today]. And I don't think …

On April 29, the Bancor (BNT) project revealed its plans for the V2 upgrade of its platform. The overhaul addresses some of the major usability issues that have plagued the project since its launch in 2018. With Bancor V2, scheduled for launch in Q2 2020, the team believes to have solved several risks incurred by liquidity providers to its platform. Bancor operates through automated market makers. This eliminates the need to maintain an order book. Instead, it relies on pools of liquidity and a price slippage mechanism to emulate natural fluctuations in price. Liquidity providers earn trading fees, but in …

The total crypto market capitalization has bounced from just below $200 billion on April 22 to over $214 billion at press time. This is a positive sign as it shows that the sentiment is to buy the dips. If the market capitalization rises above $217 billion, it would open the gates for a rally to about $250 billion. A positive sign during the recent bullish move has been that along with Bitcoin several altcoins have also shown strength. As Bitcoin halving nears, tweets regarding “halving “ have picked up and are currently ranked second among the topics discussed related to …

Coinbase is trying to fix the broken DeFi industry with stable price oracles. In an April 23 announcement, Coinbase introduced the Coinbase Price Oracle — “a critically important service to the DeFi ecosystem” that will be available through the CoinbasePro API. Both existing ways are worse Coinbase contends that the two existing approaches to price data feeds for DeFi — “published signed data” from a centralized source or using a price feed coming from a decentralized exchange — are both unsatisfactory: “Using data from an off-chain source requires trusting the publisher to post correct prices and keep the signing key …