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Bitcoin price volatility expected as 47% of BTC options expire next Friday

The open interest on Bitcoin (BTC) options is just 5% short of their all-time high, but nearly half of this amount will be terminated in the upcoming September expiry. Although the current $1.9 billion worth of options signal that the market is healthy, it’s still unusual to see such heavy concentration on short-term options.By itself, the current figures should not be deemed bullish nor bearish but a decently sized options open interest and liquidity...

22% UniSwap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80.Cryptocurrency daily market performance snapshot. Source: Coin360UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive eight-fold gain, the token started to pull back but trading volume suggests traders have their eyes set on higher prices.YFI and ETH rallied as UNI corrected As...

Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. “I don't see what make it stop doing what been doing for the last 10 years. And that's going up”, he told Cointelegraph in a recent interview. McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold,...

First ICO mandating buyers to ‘use’ tokens is successful, collects $5M

A new way of conducting token sales spearheaded by ConsenSys Codefi achieved its first success, with the planned sale of Skale Network tokens collecting just over $5 million.As Cointelegraph reported in February, the Skale token sale was the first to be launched on the Activate platform developed by ConsenSys. Its purpose is to bootstrap new projects with an involved community that would perform the functions required of it, for example staking their tokens...

Bitcoin Cash hits new low vs. Bitcoin as Draper deletes Twitter praise

Altcoin Bitcoin Cash (BCH) is plumbing new lows against Bitcoin (BTC) after crashing through fresh support.Data from price tickers including Cointelegraph Markets and CoinMarketCap confirm that BCH/BTC is now at its worst levels in Bitcoin Cash’s three-year history.BCH/BTC in “downward price discovery”At press time, 1 BCH bought just 0.022 BTC, 92.2% less than at its peak of 0.285 BTC in December 2017.BCH launched as an off-shoot from BTC in August the same year,...

Rumors of DeFi’s demise have been greatly exaggerated: weekly recap

DeFi projects have been dominating headlines as of late, and the unexpected departure by a high-profile founder had ripple effects throughout crypto markets. Here are the top stories from the past week:SUSHI’s parabolic surge upward came to an abrupt halt when the project’s head cashed in all his chips earlier this week, and the resulting selloff knocked the rest of DeFi, ETH and Bitcoin (BTC) down from their perches, some of which were...

Bitcoin price, stocks and gold plunge in tandem — What’s next?

The price of Bitcoin (BTC), the S&P 500 index, and gold all fell simultaneously on Sept. 3. The sentiment around the markets remains cautiously negative after the drop.Two factors likely triggered the abrupt decline of Bitcoin by over 8% on the day. First, miners sold off unusually large amounts of BTC in a short period. Second, the U.S. dollar index has started to recover from a key multi-year support area.BTC/USD daily chart. Source:...

Scaling DeFi with Optimistic Rollups is not the best option, says Matter Labs CEO

Since Ethereum 2.0 is likely to take a few more years to begin increasing the throughput of the network, community focus is centering on layer-two solutions that could take some of the burden in the short-term.Several solutions that support token transfers are already implemented live, including Matter Labs’ ZkSync and OMG Network’s Plasma. But the “holy grail” of layer two is generalized smart contract support, which would let DApps and DeFi move out...

YFI price soars to $38.8K hitting $1B market cap — can it go higher?

Yearn.finance’s native token YFI has surged by more than 75% in the last 24-hours, achieving a new all-time high at $38,883 on Binance in its (USDT) pair. The strong upside move also brought the DeFi-token’s market capitalization above $1 billion. YFI/USDT 1-hour chart. Source: TradingView.comTraders are excited but is YFI overvalued? The general sentiment around YFI from Decentralized Finance (DeFi) enthusiasts remains seemingly positive. IDEOVC’s Ian Lee pinpointed yearn.finance’s developer Andre Cronje’s fast-paced product releases as a...

Bitcoin price shakes off $157M BTC futures expiry — Is $12,000 next?

Today’s Bitcoin (BTC) futures expiry was lackluster both in terms of price impact and volume. Open interest dropped by a mere $157 million, barely moving from its $5 billion mark. As CoinTelegraph correctly predicted yesterday, this most recent CME Bitcoin futures expiry was irrelevant. Some $125 million worth of August contracts were set to liquidate today, although preliminary data indicates less than $40 million were not rolled over for the upcoming months.Total open interest,...
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