The White House and Senate leaders finally agreed to a massive stimulus of $2 trillion to support the economy and Americans who are suffering due to the COVID-19 pandemic. While the equity markets are celebrating with a rally, Binance CEO Changpeng Zhao has projected a bullish figure of $100,000 for each Bitcoin. Zhao believes that with most Bitcoin in the hand of long term holders, even if a small portion of the new stimulus flows into Bitcoin, a market capitalization of $2 trillion is achievable. Trader Tone Vays sounded increasingly bullish on Bitcoin. He said that if Bitcoin breaks above …

The Tezos Foundation moved to settle its $25M consolidated class-action lawsuit on March 20, following more than two years of fighting in court. In a post on its website, the foundation claims to have chosen to settle due to the time and financial expense incurred through continuing proceedings. “It was decided that the one-time financial cost of a settlement was preferable to the distractions and legal costs associated with continuing to fight in the courts,” the foundation states. The settlement proceedings are currently pending court approval. Tezos denies any wrongdoing in $232 million ICO After conducting its then-record $232 million …

The Tezos Foundation released its second Biannual Report, detailing the group’s progress in Q3 and Q4 of 2019. Published on March 19, the report reveals that the foundation owns $635 million in assets — much more than the $232 million raised in its infamous initial coin offering. When asked how the foundation was able to achieve such a warchest, the company’s CFO, Roman Schnider, revealed to Cointelegraph that the project benefited from positive crypto market dynamics. He said: “The increase is largely due to the appreciation of our blockchain assets over the last three years, BTC and XTZ in particular.” …

In a recent Reddit ask-me-anything (AMA) Gregory Bowman, Folding@Home’s (F@H) director, revealed that the project currently has 400,000 computers actively contributing to research. “We had about 30K users before the pandemic started,” he stated, adding: “In the past two weeks, 400K volunteers have joined Folding@home.” The number of F@H donors has increased 1200% in four weeks Folding@Home is a platform that diverts donations of spare computational power toward medical and scientific research. On Feb. 27, F@H announced an initiative to harness a global computer network to contribute work towards pharmaceutical drugs to combat COVID-19. F@H also designates computing power for …

Even after the announcements of massive stimulus by the U.S. Federal Reserve, the ECB, and several other central banks, the equity markets are still struggling to launch a sharp recovery from the recent lows. This shows that traders are not confident that the equity markets have bottomed out and possibly investors are slowly losing hope that the central banks can rescue them from any crisis. Meanwhile, the cryptocurrency market is showing a sharp rally from the recent lows. The total crypto market capitalization has risen from the recent low of about $118 billion on March 13 to about $191 billion …

The unprecedented volatility in the equity markets continues as the traders are trying to assess the economic damage and the remedial measures that have been taken to support the economy. A growing number of developed nations have announced huge stimulus packages to soften the impact of the pandemic. However, billionaire investor Tim Draper believes that Bitcoin (BTC) will lead the recovery from the ongoing financial crisis by transforming the ways in which industries function. Tone Vays expects Bitcoin to bottom out closer to $2,800. If the level is hit before the upcoming May halving, Vays is fine with it, however, …

The US Federal Reserve is at it again. For the second time this month, the Fed has done an emergency rate cut. On March 3, a 50 basis point cut was implemented and that was followed with a 100 bps cut on March 15. If that was not enough, the Fed also announced a $700 billion quantitative easing program. Surprisingly, in response to this, equities markets reacted by dropping over 11%. This shows that the markets are signaling to the Fed that rate cuts are not the solution for every problem at hand. After a few months when the coronavirus …

Capitulation occurs when traders are scared. On March 12, most asset classes witnessed a massive selloff with no place to hide. Even gold declined 3.17%, which shows that the traders sold everything in their portfolio. The coronavirus pandemic has created a state of panic because it does not have any treatment and spreads quickly. As a result, large cities and in some cases, the whole country is in a lockdown, in attempts to control it. That led to panic selling in cryptocurrencies on March 12, which had been comparatively holding up quite well until then. The market capitalization of the …

Governments and citizens across the world are in a state of panic as cases of coronavirus continue to rise. This has rocked global equity markets for the past few days and volatility has spiked to levels not seen since the last financial crisis. This shows that fear has gripped the traders and they are likely to sell everything at hand. Even gold sold off today. Compared to other assets that have been around for centuries, cryptocurrencies are a new asset class that has not witnessed any major crisis. Hence, the traders are unsure about their performance. Therefore, we do not …

Let’s talk about Tezos (XTZ). For a long time, the joint United States–Swiss altcoin has had a strong reputation, yet a checkered past. Only recently has the price begun to reflect the faith that many already had in the protocol. However, is the rapid rise of Tezos justified, or is it another case of crypto “FOMO”? Let’s talk about the market Tezos hit highs of around $3.90 in February this year. The price has subsequently pulled back, but overall, XTZ is still outperforming the majority of altcoins. This drop does not appear to represent a lack of interest from the …

Crude oil prices plunged about 30% on Monday to the lowest levels seen since Feb. 2016. This triggered a sell-off in global equity markets, which were already reeling under the pressure of a likely global slowdown due to the coronavirus outbreak. At its lowest level, the crude oil traders were nursing losses of about 55% year-to-date. Similarly, the US markets have plummeted about 15% year-to-date. Although Bitcoin (BTC) has dropped about 26% from its highs, it is still up about 7% year-to-date. This shows that it is outperforming both equity and oil markets. While it is difficult to pinpoint a …

The total crypto market capitalization has dropped from about $263 billion on March 7 to under $244 billion at press time. This shows a lack of demand at higher levels. The failure to resume the up move within the next few days is likely to attract further selling by the short-term traders. Binance’s research department noted a drop in Bitcoin (BTC) trading volume dominance from 40% to 27% in February. On the other hand, Ether price witnessed a 158.6% increase in its total monthly volume. This shows that the interest in altcoins is increasing and the researchers expect an alt …