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Do You Know The Most Valuable Blockchain Companies?

Research firm Hurun published a list of global unicorns, or companies worth more than a billion dollars, in 2020. This ranking features all billion-dollar tech startups founded in the 21st century that are not listed yet listed on public exchanges.The report, named “Hurun Global Unicorn Index 2020,” shows that there are a total of 586 unicorns globally — up from 494 companies listed in the 2019 ranking.The blockchain industry represents 2% of the...

A Record Number of Bitcoin Were Recently Withdrawn From Exchanges

July 8 set a year-to-date record for the number of net Bitcoin (BTC) withdrawn from custodial exchanges. The onslaught was led by Coinbase.A bullish sign?Yesterday, 20,660 more Bitcoin were removed from exchanges than deposited according to data from Glassnode. This represents 2020’s biggest daily outflow of Bitcoin from exchanges — a behavior pattern that is typically considered bullish.All Exchanges versus Coinbase net Bitcoin flow. Source: GlassnodeCoinbase leads the exodusInterestingly, Coinbase alone experienced a net...

Derivatives Traders May Have Manipulated COMP Rally

A number of analysts have suggested the meteoric price performance of the Compound Governance Token (COMP) may have been orchestrated using derivatives.After initially changing hands for approximately $80 each upon its June 18 listing on Poloniex, COMP quickly rallied 500% to post highs above $380 June 21 as news of a Coinbase listing appeared to entice buyers.COMP/USDT on Poloniex, 1hr chart: TradingViewSince the high, COMP has shed 34% of its value and is...

11.4 M Bitcoin Held As Long Term Investment

According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians.Breakdown of Bitcoin supply. Source: Chainalysis.Digital goldThe company concluded that the breakdown of Bitcoin’s supply makes it similar to gold, supporting the asset’s status as digital gold. They clarify, however, that it is the 3.5 million BTC that is actively traded which supports the price:“But this digital gold is supported by an active...

200% OmiseGo Pump and Dump Raises Eyebrows

Controversy has returned to cryptocurrency exchange Coinbase after an altcoin it listed surged 200% in 15 minutes — only to crash immediately afterward.Currently a topic of interest on social media, Coinbase’s listing of OmiseGo (OMG), the 34th ranked cryptocurrency by market capitalization, also sparked familiar accusations of insider trading.Coinbase ‘premium’ reaches 80%“OmiseGO (OMG) is launching at http://Coinbase.com and in the iOS and Android apps within the next 15 minutes,” the company tweeted on...

Coinbase’s Retail Payment Portal Passed $200 Million in Transactions

Coinbase Commerce, a platform that supports cryptocurrency payments for internet retailers, just passed $200 million in total transactions processed over its two-year history.According to sources available to Cointelegraph, the wing of the largest crypto exchange in the U.S. reported on March 26 that the platform’s success was due in part to the 8,000 retailers currently using Coinbase for payment services.Bitcoin preferred for retail paymentsWhile the coronavirus pandemic is wreaking havoc with traditional...

Coinbase Wallet Integrates Support for DeFi Lending Apps

Leading U.S.-based cryptocurrency exchange, Coinbase, has integrated support for decentralized finance (DeFi) protocols on its wallet app.Per a March 26 announcement, Coinbase Wallet will now allow users to earn interest on cryptocurrencies through the DeFi apps, Compound, and dYdX.While the DeFi apps were already available through Coinbase Wallet’s built-in decentralized application browser, the exchange asserts that the integration significantly increases the ease-of-use for users seeking to access DeFi protocols.The new feature will...

Crypto Exchanges Made a Killing During the Ides of March

While March 2020 has been one of the most volatile and unprofitable months for Bitcoin holders, exchanges have benefited greatly from this uncertainty.March 12 selloff spike in volumeThe main source of revenue for crypto exchanges comes from trading fees, so on the days with heavy volume, they see an increase in their revenues.March 12, the day that Bitcoin lost 37% of its value, there was a significant increase in Bitcoin trading volume,...

Coinbase Card Now Available on Android Phones Through Google Pay

Coinbase Card users owning supported Android phones can now avoid using the physical card. Through an integration with Google Pay announced on March 17, the card can be emulated by a mobile phone.The Coinbase Card connects a holder’s cryptocurrency balance on the exchange, which is then used for spending crypto via an instant conversion to fiat.The card can only be issued to residents of the European Union and European Economic Area, as...

Circle’s USD Coin Sees Major Growth After Market Downturn

As Bitcoin (BTC) and the cryptocurrency market at large experience a major downturn, people turn to stablecoins in an attempt to preserve their capital. Some stablecoins have grown more than others, however.Stablecoin marketcaps are generally expected to increase after a major cryptocurrency market downturn. However, this is not what happened for most stablecoins during the past week.According to data from Coin360, Bitcoin has fallen from a height of nearly $8,000, down to...
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