The price of Bitcoin (BTC) has been under severe selling pressure by whales for the past two months, on-chain data reveals. However, five key indicators suggest that major sellers are about to turn into hodlers or even accumulators of Bitcoin again, while institutional demand remains high. This is an explosive setup that may send Bitcoin to new all-time highs in the near term. Whales stopped selling The number of whales, which are Bitcoin addresses with a balance equal to or more than 1,000 Bitcoin, have declined by more than 10% since Feb. 8, suggesting a large sell-off of Bitcoin. While …

The United States’ biggest crypto exchange would have made more money by simply buying and holding Bitcoin (BTC) in 2013. Data circulating on social media reveals that despite Coinbase’s $800-million profits in Q1, the company would still be richer had it used its seed funding cash to buy BTC. Coinbase profits lose out to 2013 hodlers Ahead of its initial public offering on April 14, Coinbase reported bumper revenue this week. At $1.8 billion, Q1 outperformed the entirety of 2020. The numbers became an instant talking point as market participants weigh up the likely impact of the IPO launch. Other …

Coinbase has announced impressive first-quarter results one week before the exchange’s direct listing on Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion. The bountiful revenue, revealed in the company’s Q1 earnings call, dwarfs its $190-million revenue from the same time last year, with the company attributing a portion of this explosive growth to Bitcoin’s (BTC) bull market. The American exchange estimated net income between $730 million and $800 million and an EBIDTA of approximately $1.1 billion. The bull market has also seen monthly active users grow to more than 6 million users, up …

One telltale sign of a growing altcoin season is when obscure and lesser-known projects start putting on face-melting gains as traders scramble to jump on the rising price. New Kind of Network (NKN) has emerged over the past month as one of these surprise gainers, increasing 1,400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6. NKN is a peer-to-peer network connectivity protocol and ecosystem that uses economic incentives to “motivate internet users to share network connections and utilize unused bandwidth.” Since its launch in January 2018, the project has steadily …

Major stakeholders in the cryptocurrency scene, like Coinbase and Square, have formed an alliance to better relate with policymakers and regulators on the subject of crypto regulations. They are joined by other major players in the cryptocurrency scene, such as Fidelity Digital Assets and crypto-focused investment firm Paradigm. Dubbed the Crypto Council for Innovation, the group aims to facilitate constructive dialogue with governments and regulatory agencies about the benefits of cryptocurrencies, according to the details published on the group’s website. An excerpt from the CCI’s website reads: “CCI supports governments and institutions worldwide in efforts to shape and encourage the …

INX Limited, a Gibraltar-based platform for trading securities and cryptocurrencies, is preparing to finish its initial public offering soon. According to a Monday announcement, April 22 will be the last day of INX’s IPO as the company expects to have listed its token on at least one public trading platform by the end of May 2021. INX plans to launch the INX Digital trading platform shortly after the IPO ends, the firm said. INX launched the IPO in August 2020, planning to raise up to $117 million in a security token offering approved by the United States Securities and Exchange …

Rebecca Rose and Peter Kacherginsky, employees of leading U.S.-based crypto exchange Coinbase, have revealed how they used Ethereum’s blockchain to become lawfully wedded. On April 3, Rose posted to Twitter to announce the pair had tied the knot on March 14 in both the physical and virtual words. Most people get married in a place of religious worship, on a beach, or in the mountains. Peter (@_iphelix) and I are NOT most people. We got married on the #blockchain. 1/7 pic.twitter.com/2ExexrlLbZ — Rebecca Rose (@rgoldilox) April 2, 2021 In addition to a traditional Jewish wedding ceremony, Kacherginsky wrote an Ethereum …

Bitcoin (BTC) is primed for a price breakout after beating out volatility, but April may still produce a surprise sell-off. In his latest market update on Friday, Filbfilb, co-founder of trading suite DecenTrader, said that he now expects upside to take over on BTC/USD. BTC “threatening a breakout” Bitcoin has recovered from its flash crash earlier in the week and briefly hit $60,000 overnight on Friday. With seven-day gains still at 13%, there are plenty of reasons to be bullish in the short term now that consolidation looks set to conclude, Filbfilb argues. “With the weekend looming amidst a buoyant …

Crypto analytics provider Messari has compiled a report concluding that the fabled “Coinbase effect” — the popular belief that new token listings on Coinbase tend to outperform launches on other exchanges — is true. But the effect is far from consistent, and after controlling for outliers, it’s not as great as many assume. Messari analyzed the performance of 28 new Coinbase listings over five days against 22 Binance listings, 19 FTX listings, 19 Gemini listings, 14 OKEx listings, and 11 Kraken listings over the same duration. While the research found that listings on Coinbase had the highest average return at …

Coinbase Ventures, the investment arm of the San Francisco-based digital currency exchange, has thrown its weight behind a layer-one blockchain designed to bring full-service DeFi to the Polkadot ecosystem. The investments are focused on Acala, the Ethereum Virtual Machine-compatible blockchain that is building a host of DeFi capabilities on Polkadot, as well as Karura, which is building a DeFi ecosystem on Kusama. Acala has already built four core products for the Polkadot ecosystem: Liquid DOT staking, a stablecoin, an automated market maker decentralized exchange and a sovereign wealth fund. The amounts allocated to Acala and Karura were not disclosed. According …

U.S.-based crypto exchange Coinbase says it anticipates going public with a direct stock listing in two weeks. According to a Coinbase blog today, the U.S. Securities and Exchange Commission, or SEC, has declared the crypto exchange's S-1 registration for a public offering effective. Coinbase's Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol "COIN" on April 14. The crypto exchange had previously been expected to go public in March, but reportedly delayed its plans after paying a $6.5 million fee as part of a settlement with the Community Futures Trading Commission, …

The Coinbase direct stock listing could be a rite of passage for the blockchain and cryptocurrency industry, and the announcement on March 20 by the United States Commodity Futures Trading Commission of a $6.5-million fine against Coinbase for “wash trading” and filing misleading information probably won’t do more than postpone by a few weeks the distinction of being the first crypto-native corporation to be listed on a major U.S. stock exchange. But questions surround Coinbase’s upcoming debut on the Nasdaq exchange: Is the crypto exchange really worth the $100 billion — as suggested by a pre-IPO public auction? Is its …