The futures market provides good insight into the sentiment of larger players. If the futures volume continues to rise in a falling market, this indicates that a decline is likely to extend further. However, if the volume increases with a rise in price, this shows that the market participants are accumulating positions. On Nov. 27, Bitcoin closed in the green and Bitcoin futures on Bakkt hit a new all-time high volume record which was 60% higher than the previous record. This shows that institutional players have increased their activity during the most recent relief rally. This points to possible accumulation …

The centralization of EOS has again emerged as a contentious issue within the cryptocurrency community, with the firm that created the EOSIO software, Block.One, participating in electoral procedures to choose the Block Producers for the EOS blockchain. On Nov. 28, EOS Block Producer EOS New York tweeted screenshots of Whois search results that suggest that six of EOS’s total pool of Block Producers are managed by just a single entity, intensifying criticism of the network’s centralization. EOS’s blockchain is secured using a delegated proof-of-stake model, with 21 Block Producers elected to operate EOS token holders to exclusively operate the network’s …

EOS Block Producer “EOS New York” has published data purportedly showing that six registered producers on the network are managed by a single entity. In a tweet published on Nov. 28, EOS New York raised concern over the apparent levels of centralization and misconduct, claiming that: “Six registered producers on EOS are managed by a single entity. This is unacceptable. We have requested the signatures of the top 50 registered producers so that all token-holders may know who does and who does not condone such impropriety.” Block Producers and “delegated proof-of-stake” In the EOS ecosystem, Block Producers (BPs) are analogous …

The theft of 342,000 Ether (ETH) from South Korean cryptocurrency exchange Upbit could have halted the current relief rally taking place in the crypto market. However, Lee Seok-woo, the CEO of Upbit’s operator, Dunamu said that the company will cover for the losses. This erased some of the initial concerns of the market participants and improved sentiment. When sentiment is negative, the markets fall quickly but take a lot longer to rise. This week a bullish bit of news came from Bitcoin ATM firm Bitstop. The company intends to install Bitcoin ATMs at several Simon Malls locations in the United …

The total crypto market capitalization has bounced from the $180 billion mark. We anticipate a strong support in the $168 billion to $183 billion range because the market cap had consolidated in this range in April of this year, before moving higher. So, on the way down, we expect this range to act as a strong support. Although Bitcoin (BTC) has started this leg of the down move, it is interesting to note that it has not given up its crypto market dominance, which remains above 66%. This shows that the altcoins are unlikely to go against Bitcoin’s main trend. …

Fear gripped the markets on the news that Chinese authorities had raided the offices of the leading cryptocurrency exchange Binance. This negated all the positive effects that had accrued following President Xi Jinping’s endorsement of blockchain technology. Though Binance denied reports of any raids, price action within the sector has remained subdued. Daily cryptocurrency market performance. Source: Coin360 Naysayers will use these bearish moments to further spread panic among market participants by issuing outlandish targets on the downside. Peter Schiff believes that Bitcoin could plummet to $1,000 as it has formed a head and shoulders pattern. We, however, could not …

Ubisoft, the game development giant behind the videogame Assassin’s Creed, partnered with EOS-based game distribution platform Ultra. According to a press release shared with Cointelegraph on Nov. 21, Ubisoft will be a corporate block producer on the testnet version of Ultra’s EOS sidechain, dubbed UOS. As such, the company will help maintain the network and approve transactions on it during the trial period. Alignment of interests Transactions on the network will include in-game asset creation, ownership transfers between players and payments. Per the release, Ultra chose Ubisoft as a block producer because it is in the game developer’s best interest …

The Federal Reserve Board Chairman Jerome Powell has said that the Fed is not developing a central bank digital currency (CBDC), but it is conducting its own research to evaluate the benefits and limitations of such an initiative. On the other hand, Edith Cheung, partner at blockchain-focused venture capital fund Proof of Capital, believes that China will launch its digital currency within the next six to twelve months. A CBDC by a large economy will be an interesting development. Daily cryptocurrency market performance. Source: Coin360 The crypto markets have been losing ground in the past few weeks due to the …

At present, the combined capitalization of the 2,022 crypto assets with a known market cap was roughly $222 billion. On Nov. 19, 2017, just weeks before the current all-time highs would be set for the price and capitalization of Bitcoin and the crypto market overall, the 985 tokens with a known market cap represented a capitalization of around $244 billion — a similar zone to where the market is at currently. However, with the capitalization of Bitcoin (BTC) having grown 15% from $134.1 billion to $154.6 billion during the 24 months following November 2017, more than twice as many altcoins …

Since the Great Recession, the health of the global financial system has only deteriorated. Corrupt leadership, worsening standards of living and several other problems have sparked unrest in a number of countries. The latest country to see unrest is Iran. Recently protestors set several buildings on fire and one among them was a branch of Iran's central bank in Behbahan, a city located in the southwestern region of the country. Such events underline the importance of cryptocurrencies because crypto is the only asset class which cannot be controlled or manipulated by leaders and regulators. Though many suggest that gold can …

Fundstrat’s Tom Lee believes that cryptocurrencies “are network value assets” and as the number of people who hold the asset increases, the value of the cryptocurrencies would also move up. According to him, about half a million people use and own Bitcoin currently and if the number doubles, he expects Bitcoin (BTC) to easily reach his target of $25,000. Binance founder and CEO Changpeng Zhao believes that Chinese President Xi Jinping’s support of blockchain technology will result in the mass adoption of crypto. As more people learn about blockchain technology, they would understand cryptocurrencies better, boosting adoption. Zhao also expects …

Although Bitcoin (BTC) is not showing any trending move, Bakkt and the Chicago Mercantile Exchange (CME) Group continue to roll out products designed to attract the large traders. Bakkt recently announced that it will add a cash-settled futures contract to its existing Bitcoin-settled contract. On the other hand, the CME group plans to offer options on Bitcoin futures after receiving the necessary regulatory approvals. Bitfinex cryptocurrency exchange is also planning to launch a slew of products, which include, options trading and a gold-backed stablecoin, to attract customers. These actions by cryptocurrency exchanges instill confidence that trading volume is likely to …