Bitcoin Hovers Around $34.2K While Options Traders Pay Up for Possible ETH Upside

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After a record day in spot volume, bitcoin’s price went up, down and back up. Meanwhile, most ether options traders are bearish, some are paying up in case it gets close to record highs.

Bitcoin’s price had an up-and-down day, going as high as $36,605 at around 08:00 UTC (3 a.m. ET), falling to $32,528 at around 14:30 UTC (9 a.m. ET) and then going back up to $34,278 as of press time. 

Andrew Tu, an executive for quant trading firm Efficient Frontier, sees the $36,000 price level as “resistance,” an area where bearish traders seem primed to hit the sell button on bitcoin. “Right now bulls are challenging the $36,000 resistance. It failed to get past $36,600 earlier during the afternoon Asia hours,” Tu told CoinDesk. “When the U.S. East Coast woke up, the market started bidding the price upwards again.”

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Ethereum Co-Founder Addresses Issues That Prevent The Adoption Of Encryption

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The entire cryptographic community awaited the release of the ever-delayed Ethereum 2.0, also known as Serenity. This network-to-network update would hint at the transition from Ethereum from Proof of Work [PoW] to Stake Test [PoS]. Although Phase 0 of the update was recently released, the others are yet to come. Appearing at a recent Latin American Bitcoin Conference, the co-founder of Ethereum unveiled the proposal that Eth2 would pave the way for a number of possibilities, as the network could house more than 3,000 transactions every second.

While the community is awaiting releases related to Eth2, Buterin revealed that the update would not be functional for a while. Noting that this time it would allow developers to work better on Eth2, he added, "more attention to risk minimisation and maximizing opportunities" would be prioritized.

In addition, he revealed that there was still no usability facility with regard to portfolios and this would be a significant problem in terms of adoption. Detailing the lack of attention on the subject.

Read the full story at: tronweekly.com.

German Bank Of The 18th Century Starts A Bitcoin, Stellar And Ethereum Fund

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In a report credited to a German-based media company, Fundview, the German bank plans to operate the crypto fund under its asset arm, known as Hauck & Aufhäuser Innovative Capital, starting early next year. The Crypto fund will mainly involve three crypto-assets, i.e. Stellar (XLM), Bitcoin (BTC) and Ethereum (ETH).

The bank highlighted the objectivity of creating this crypto fund: " We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive to institutional investors. With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment vehicle that gives our customers cheap and secure access to the new class of crypto assets, while meeting the established quality standards and high demands of Hauck & Aufhäuser," says Holger Sepp, board member of Hauck & Aufhäuser.

At the time of writing flagship cryptography, Bitcoin was trading around $19,280, while Ethereum and Stellar were trading at $595 and $0. 1708 respectively.

Read the full story at: nairametrics.com.

Ethereum, Ripple’s XRP And Chainlink Are Defeating Bitcoin – These Smaller Cryptocurrencies Too

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Bitcoin has had an incredible 2020, more than doubling in price since the beginning of the year - with some predicting it will continue to rise. The price of bitcoin has recently skyrocketed to its highest record in 2017, but has failed to break the psychological barrier of $20,000 per bitcoin.

Now, after bitcoin's recovery helped catapult cryptocurrencies back into the headlines, investors are eyeing the sky-high returns of so-called smaller "alternative currencies" - including ethereum, Ripple's XRP and chain link.

These massive rallies are overshadowed by the returns recorded by a handful of other smaller cryptocurrencies. Yearn.finance, used by interest-like investors to move funds through the DeFi ecosystem, rose an astounding 2,600% last year alone.

Read the full story at: forbes.com.

Ethereum Miners Generated Revenue Of $262 Million Last Month

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Miners in the Ethereum network earned about $262 million in revenue during November, an increase from October figures.

Of that amount, $64.1 million in revenue came in the form of transaction fees. Ethereum's transaction fees soared earlier this year amid an increase in DeFi-related activities and costs associated with building complicated stocks.

November marked the third highest month for transaction fees in 2020 so far, although it did not exceed september's $321.3 million. More than $170 million of revenue earned in September came in the form of transaction fees.

Read the full story at: theblockcrypto.com.

Ethereum Doing Well But Could Do Better

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At the time of writing, 21:00 GMT, the price of ETH was $600, suggesting that the price is still rising as investors anticipate the release of Ethereum 2.0, which promises to fix all eth 1.0 problems. ETH consistently rose with bullion between December 18 and 25.

Looking at the candles between the 18th and 25th, they are mostly green, indicating a high moment. Currently described, the sails are in the higher price expectation area of the Bollinger Bands, suggesting that ETC is performing better than expected. The Moving Average Convergence Divergence (MACD) indicated that the high momentum was strong between the 18th and 25th, probably due to new crypto investors who heard about ETH 2.0.

You can say that the high action was strong because of the density of the green part of the MACD. From the 29th to today, the uptrend occurred again, with news sites encouraging people to wait for the launch of ETH 2.0. ETH 2.0 was finally released today and this encourages high action. ETH managed to achieve a resistance level of $635.5. From the 29th, the MACD is dense, but not as much as before, suggesting that enthusiasm is waning.

Read the full story at: cryptopolitan.com.

The Great Manifestation Of Ethereum May Simply Be Beginning

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The price of bitcoin rose to close to its highest highs of 2017 this week, close to $20,000 per bitcoin, as Wall Street banks and high-profile traders consider bitcoin a possible hedge against inflation.

In the meantime, the price of ethereum continues to be removed from its excess of virtually $1,500 in 2017, however, it has recovered laboriously as the main part of ethereum's multi-year improvement looms.

Ethereum 2.0 — designed to increase scalability and security — will see the ethereum community transferred from the proof-of-work consensus algorithm (PoW) to the bet proof (PoS) algorithm. This can basically mean that those who obtain ethereum tokens as a reward for sustaining the community may be distant from the method with the aim of optimizing the settlement of transactions.

Read the full story at: fintechzoom.com.

Ethereum 2.0 Deposit Contract Fully Loaded, IRS Sends Disconcerting Letters – Again

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In case you lost, the CEO of PayPal, Dan Schulman, is optimistic about bitcoin as a real currency. Luckily for him, the PayPal will soon allow his network of merchants to accept bitcoin payments. Appearing on CNBC's Squawk Box on Monday, Schulman said the usefulness of bitcoin as a currency will coexist with its buying and maintenance status. The CEO also said that the central bank's digital currency is a global inevitability, although this may increase the usefulness of bitcoin. "I think there will be more and more use cases for cryptocurrencies" that make bitcoin more widely accepted, more stable and probably "more valuable" over time.

JPMorgan analysts say institutions are investing in bitcoins at a stronger pace this quarter than in the third quarter, according to the banking giant's "Flows & Liquidity" report. Published on Friday, the analyst's report likets institutional and retail buying. For example, in the third quarter, retail customers bought $1.6 billion in bitcoin using Square's Cash app, nearly three times more than what was invested in the grayscale bitcoin product.

Although in the fourth quarter, the Bitcoin Trust in shades of grey is with three times its numbers in the third quarter. To be sure, Square has not yet released figures related to customers' bitcoin purchases in the fourth quarter. (Shades of grey, like CoinDesk, is the full property of the Digital Currency Group).

Read the full story at: nasdaq.com.

Infura, The Ethereum Infrastructure Provider, is Down, Encryption Exchanges Begin to Disable ETH Withdrawals

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Infrastructure provider Ethereum, Infura, is currently experiencing a service outage, causing a delay in ether price feeds (ETH) and ERC-20 tokens for some services.

"We are currently experiencing an interruption of the service of our Ethereum Mainnet API. Our on-call team is investigating and working to restore service functionality," says the Infura status page. The problem started today at 08:12 UTC.

The outage also caused encryption exchanges, including Binance and Bithumb, to disable withdrawals of ETH and ERC-20 tokens. The popular Ethereum MetaMask wallet is also struggling, as Infura is its default service provider. (Both MetaMask and Infura are owned by Ethereum's development studio, ConsenSys).

Read the full story on the website: theblockcrypto.com.

Bug Code in This Composite Financial Fork Just Froze $1 Million in Ethereum Tokens

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About $1 million in Ethereum tokens is locked in a new DeFi app after its developers made changes to the protocol's smart interest rate contracts.

The DeFi lending platform, PercentFinance, a fork of Compound Finance, wrote in a blog post on November 4 that "some of [its] financial markets have had a problem that could result in the permanent blocking of user funds." The team froze the money markets specifically for USDC, ETH and Bitcoin Packaged (WBTC).

A total of 446K USDC, 28 WBTC and 313 ETH, worth approximately $1 million, are currently frozen. Half of these real estate funds belong to PercentFinance's "community mod team," according to the post. Withdrawals to other markets are open, but the team is asking users not to borrow in any of PercentFinance's markets in the meantime.

Read the full story on the website: www.nasdaq.com.