As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion.
Month: April 2021
Bitcoin (BTC) retook $57,000 on April 30 as a surprise bullish end to month took traders by surprise. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $4.2 billion expiry gives way to big Bitcoin gains Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD climbing 5% in hours on Friday to come within inches of a green monthly
In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it. As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network. The analyst predicts its
More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap
A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto
Decentralized exchanges have indelibly changed the way that cryptocurrencies are traded. But in the grand scheme of things, the technology that’s driving these platforms is relatively young… meaning it’s inevitable that teething problems have emerged. Some of the heavy hitters that dominate the market at present are known as non-orderbook markets. While it’s tantalizing and
Moore Cayman, a Cayman Islands-based accounting network, has again affirmed that Tether Holdings Limited’s USDT stablecoin tokens are fully backed by its reserves. In the latest report, signed on March 31 and released Thursday, Moore Cayman confirmed that Tether’s consolidated assets exceeded its liabilities. “In our opinion, the [Consolidated Reserves Report] by the management of
On April 29 Ether’s (ETH) price rose to another all-time high, boosting its market capitalization to over $320 billion. With the recent rally, Ether’s market cap has overtaken platinum and PayPal to become the 32nd most valuable asset in the world, according to data from CompaniesMarketCap. Ether’s market dominance has risen from 10.79% at the start
Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space
Bitcoin and the overall cryptocurrency market saw minor losses on April 29 as the market heads into the expiry of $4.2 billion worth of (BTC) options contracts. Data from Cointelegraph Markets and TradingView shows that since reaching a high above $56,400 on April 28, the price of Bitcoin has dropped more than 6% back down near the
What’s interesting about this particular options expiry is that the current max pain price for the expiry is $54,000, which is very close to the current trading price. The max pain price is the price at which most options are rendered worthless, thus leading to the loss of the option premium for the options holders.
Ethereum (ETH) is approaching the top-30 most valuable assets in the world following its latest price breakthrough, offering further evidence that the developer network is in the midst of a powerful bull market. The ETH price peaked at $2,741.78 on Wednesday, marking a new all-time high, according to TradingView data. With a current value of
New York-based exchange-traded product sponsor and asset manager WisdomTree is expanding its digital assets range with the launch of a new Ether (ETH) exchange-traded product, or ETP, on two European stock exchanges. Börse Xetra and Swiss Stock Exchange SIX have both listed WisdomTree’s ETP, which provides investors with exposure to the native currency of the
Smart contract platform Fantom (FTM) was subject to a 52% price increase leading into Thursday morning following the successful implementation of a new network upgrade. Dubbed “Go-Opera”, the latest upgrade to Fantom introduces a range of technical changes which, according to a recent explainer by the Fantom Foundation, makes the network faster, more efficient and
Bitcoin (BTC) may not be worrying analysts with its latest price dip, but it will likely close its first negative month of April in six years this week despite hitting a new all-time high two weeks ag. Data from monitoring resource Bybt shows that at -8.3%, April 2021 is Bitcoin’s worst April on record and
Her Majesty’s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young. According to the group, the “statement of assets” form that is used in tax evasion
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