Was Ether's Loss Bitcoin's Gain? Traders Wonder After Wild Week
The price of bitcoin appreciated nearly 4% for the week ending 27th May, but the figure is perhaps not indicative of the wild trading action the market saw during the period. Such movements came as market observers are becoming more interested in the relationship between bitcoin, the token supporting the world's longest-running blockchain, and ether, the token for the Ethereum platform. Bitcoin's gains, for example, came as ether prices plunged sharply, but it made this climb amid modest trading volumes. By contrast, ether enjoyed robust transaction activity, a sign that points to a....
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The Hong Kong-based exchange announced today that it is considering making all of its bitcoin traders pay the price after the theft of $68 million worth of bitcoin, earlier this week. In a Bitfinex blog post it said that the company was expecting to ‘socialize’ the loss among its bitcoin users even those who weren’t originally affected. The blog said: We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions. The theft of the 119,756 bitcoins means that this is the....
Ethereum's EIP-1559 upgrade is fast approaching, but derivatives data shows traders are less than optimistic about ETH's short-term prospects. Derivatives data shows that Ether (ETH) traders are feeling less bullish when compared to Bitcoin (BTC). Even though the altcoin captured a nearly 200% gain in the first half of 2021 versus Bitcoin's modest 22% price increase, traders seem to be more affected by Ether's recent underperformance.Institutional flow also backs the decreased optimism seen in Ether derivatives, as ETH investment vehicles suffered record outflows this past week while....
CTIF_Blurred. Bitcoin needs legal certainty. Bitcoin's fate in Europe is uncertain. The Wild Wild West days of Bitcoin are coming to an end in Europe. Regulation and taxes are looming and this is not necessarily a bad thing. Here's the catch: Some European countries have not yet decided what to do at a national level, let alone at an EU level. Entrepreneurs and private individuals are left in the dark be it for complying with the law when setting up a business or filing their tax forms. Finland and Norway want to treat Bitcoin as an asset with capital gain tax. Denmark's watchdog....
Bitcoin could retest the lows of its current range as its price trends to the downside. At the time of writing, BTC’s trades at $32,277 with a 2.3% loss in the daily chart. Investors and traders wonder if these levels will hold as bulls seem to lack conviction in lower timeframes. Trader Josh Rager highlighted […]
Total value locked across decentralized finance-enabled smart contracts has dipped 35% from its peak. The drop in the price of Ether (ETH) is failing to shake out the long-term holders, while the decentralized finance (DeFi) sector is also providing opportunities for investors. So suggests a new Glassnode report that noted many long-term Ether holders (>155 days) are sitting atop profits despite ETH/USD’s 55% decline from its peak level above $4,300. In comparison, the short-term Ether holders (“After almost hitting 46% of the market cap in unrealized gain, short-term holders are now....