Cryptocurrency Analysis and News Portal
Today the price of Chainlink (LINK) soared by more than 34% to reach a new all-time high at $8.48 and also notch a market capitalization of $2.5 billion.Three key factors that likely pushed the price of LINK to a new record high were: high-profile partnerships, price discovery, and the strong
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The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi. Record Bitcoin options volumes are indicative of an increasing institutional interest in
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Lately, Bitcoin price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the S&P 500 and BTC reached a new all-time high. Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric
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Bitcoin’s one-year correlation to the Standard & Poor’s 500 index hit record highs as the leading cryptocurrency continues to trade in lockstep with traditional financial markets. The realized correlation, which measures the relationship between two assets, reached 0.367 on Thursday, up from -0.06 on January 1, according to data from Coin
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Bitcoin faced a grim rejection at $9,500 earlier this week that has caused its price to flash some notable signs of weakness.This rejection has now caused the crypto to set another “lower high” – further bolstering the bear case and causing BTC to be prone to seeing further near-term downside.One
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Demand for Chainlink skyrocketed following the weekly candlestick open. As buy orders began to pile up, the decentralized oracles token saw its price rise by 38.5%. LINK surged from $4.75 to reach a new all-time high of $6.60.Despite the substantial upswing, investors seem to have taken advantage of the price
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Recent investments into cryptocurrency mining equipment by smaller players could be a positive signal for the longevity and value of Bitcoin (BTC). In late June, United States-based blockchain firm Core Scientific ordered over 17,000 of the latest Bitcoin mining ASIC machines from Chinese hardware producer Bitmain. The news made waves
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Just months ago, in March, many thought Bitcoin was on its way out. The cryptocurrency registered a 50% drop in a single 24-hour period in March, falling as global markets imploded.BTC miners followed suit, shutting down their machines en-masse because they weren’t profitable.But just three and a half months later,
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Crisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country.According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June.Citizens who have
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As the global economic engine continues to reel from the effects of the slowdown induced by the novel coronavirus, it’s still not clear how much devastation the pandemic has actually caused. For example, due to the restrictions imposed by governments all over the world such as border lockdowns, trade limitations
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