A KPMG report titled “Pulse of Fintech H1 2021,” shows that the total investment in the blockchain and cryptocurrency sector in the first half of this year has risen to $8.7 billion, which is more than double the $4.3 billion worth of deals done in 2020. KPMG global fintech co-leader Anton Ruddenklau said: “Cryptocurrency and blockchain are exploding globally. I think for the rest of this year at least, crypto will be a very hot ticket for investors.” Separate research by blockchain market intelligence Blockdata also shows that 55 out of the top 100 banks by assets under management have …

Bitcoin’s (BTC) strong recovery and march toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. That has boosted the total crypto market capitalization to over $1.9 trillion. Data from Glassnode shows a sharp increase in the dominance of Bitcoin transactions exceeding $1 million during the past few months. The on-chain analytics firm noted in a report that the transactions by the $1 million–$10 million group surged when Bitcoin corrected to $29,000 in July. This suggests that institutional investors may have been buying, which is “fairly constructive for price.” Further evidence of possible institutional buying …

Coinbase stock rebounded during the early U.S. trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter. The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for COIN rose to as high as $294 before pulling back to the current price at $279.72. Strong Q2 earnings for Coinbase Coinbase reported better-than-expected earnings in the second quarter of 2021and a net revenue of $2.3 billion. That came out to be 27% higher than the previous quarter and 1,042% up on a year-over-year basis. …

Institutions have not left the Bitcoin (BTC) market even in the face of a 50%-plus bearish correction earlier this year, shows data provided by Glassnode. The blockchain analytics platform reported on Monday that the dominance of Bitcoin transactions exceeding $1 million has surged twofold since September 2020 — from 30% to 70% of the total value transferred. Since retail investors do not typically engage in large-volume transactions, Glassnode guesses that the institutional investors might have been behind the spike in the $1 million–$10 million transaction group. Moreover, the platform noted that the Bitcoin network processed the said bulky transactions as …

Bitcoin’s (BTC) recovery from $29,482.61 on July 21 has continued to surpass one resistance after another. On Aug. 9, Bitcoin rose above the 200-day simple moving average, an indicator watched by institutional investors to determine whether the asset is bullish or bearish. A positive sign about the Aug. 9 rally is that Bitcoin was not affected by the flash crash in gold, which momentarily dipped to a four-month low. This suggests that traders are focusing on the fundamentals of the sector and are not affected by the performance of other asset classes. Glassnode noted that investors holding Bitcoin for more …

Bitcoin’s (BTC) rally above $45,000 suggests that the short-term sentiment has turned positive and this has increased buying interest across the board and pushed the total crypto market capitalization above $1.8 trillion. Driven by the tailwind of the London hard fork, Ether (ETH) broke above the $3,000 mark on Aug. 7. While the rally in the biggest altcoin is a positive sign, on-chain data shows the possibility of profit-booking in the short term. Glassnode’s "Ethereum: Percent of Addresses in Profits" indicator has risen above 96.4%, which is the “red zone, historically associated with local tops," according to Lex Moskovski, the …

Bitcoin (BTC) has staged a smart recovery in the past few days and the interest in the crypto sector seems to be picking up. JPMorgan Chase has added access to a new Bitcoin fund created by New York Digital Investment Group (NYDIG) for its private banking clients. The increasing number of traditional financial institutions opening up crypto trading opportunities for their clients shows there is strong demand for the sector. On-chain analyst Willy Woo said recently that strong holders had been scoping up Bitcoin and locking “them away for long-term investment”, resulting in a supply squeeze. Woo added that he …

Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67. However, lower levels may attract the type of buying seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a new all-time high at 9.23 million Bitcoin on Aug. 1. The previous all-time high for this group of investors was recorded on April 5, just over a week before Bitcoin hit an all-time high of $64,854 on April 14. Santiment highlighted that the “addresses …

Bitcoin’s (BTC) 43% rally from $29,482.61 on July 21 to $42,316.71 on July 30 has invigorated the bulls, who had been sitting on the sidelines. After the sharp rise, some analysts are debating whether Bitcoin could repeat its sharp bull runs of 2013 and 2017. Vailshire Capital founder and CEO Jeff Ross highlighted that Bitcoin had rallied tenfold in the second half of 2013 after facing three months of negative news. Ross said: "I still contend that 2021 will behave in similar fashion." PlanB, the creator of the stock-to-flow price model, said Bitcoin’s comeback in July was “like clockwork.” He …

Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels. However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28. Ecoinometrics also cited on-chain data to show that "whales" and “small fish'' accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week. Institutional investors are also not to be left behind in their …

Bitcoin (BTC) and most major altcoins are attempting to break above their respective overhead resistance levels, indicating the return of the bulls. Data from Bybt shows that the Grayscale premium has been climbing and reached -5.88% on July 27, its closest level to zero since May 25. This suggests that institutional investors may have again started building positions via the Grayscale Bitcoin Trust. Another institutional investment product showing a possible return of buyers is Canada’s Purpose Bitcoin ETF whose assets under management rose to 1.1 billion Canadian dollars on July 27, its highest level since May 13. Swiss private bank …

Bitcoin (BTC) soared from $29,482.61 on July 21 to $40,000 today, its highest level since June 16. This sharp rebound shows a possible change in sentiment. The bulls received a boost on Sunday, following the news from an anonymous source within Amazon proclaiming that the company is planning to accept Bitcoin payments by the end of 2021 and is exploring the launch of its own cryptocurrency by 2022. This news seems to have sent the bears scurrying to the exit, resulting in a short squeeze. Data from Bybt shows about $1.1 billion of liquidations in 24-hours on Monday, the most …