Block.One, the firm that developed the EOSIO software, announced on Nov. 13 that it will begin participating in the election procedures for block producers (BPs) on the EOS blockchain. “Small, but significant EOS token holder” In its announcement, Block.One claims that it is a “small, but significant EOS token holder” since it holds less than 9.5% of the circulating supply. As such, Block.One holds nearly one-tenth of the voting decision power when it comes to electing BPs. The firm says that the portion of coins it holds will further decrease due to the creation of new units to reward block …

The crypto markets are going through a phase of uncertainty with several cryptocurrencies failing to show a firm trend. This is because the markets lack a catalyst that can either pull prices higher or plunge them lower. However, a developing catalyst could be the launch of the China-backed central bank digital currency (CBDC). Jack Lee, a founding partner at HCM Capital, believes that China’s central bank is ready and the digital currency could be launched within the next two to three months. If this experiment is successful, it would likely force the other developed nations to follow suit. Daily cryptocurrency …

Bitcoin (BTC) futures volumes have been consistently rising in the past few days. This shows that the interest of the institutional players has been gradually picking up. A close study of the futures volume and price action can provide the experienced trader an insight into the likely direction of the markets. Increasing volumes with a sharp dip in price is a bearish sign as it indicates the initiation of short positions. Crypto market data weekly view. Source: Coin360 However, at times, a market that has been heavily shorted also provides an opportunity to enter a counter-trend trade because if the …

The EOS blockchain is congested by the EIDOS token airdrop, cryptocurrency exchange Coinbase reports on Nov. 9. In a post on its blog, Coinbase claims that it had trouble in processing its clients’ transactions due to EOS network congestion caused by the EIDOS token airdrop. The exchange has since solved the issue by increasing the amount of staked CPU, securing a sufficient portion of the CPU time remaining on the network to process its transactions. Interestingly, the incident also caused the price of CPU time on the network to increase by over 100,000% over the course of 4 hours. The …

Though crypto markets are in a consolidation phase, the number of first-timers investing in this nascent space has almost doubled, according to data from Square Cash App. This is a positive sign as it shows that investors are using the dips to buy cryptocurrency. In another positive for the crypto space, research by the recruitment firm Indeed.com has found that cryptocurrency job requirements have risen in the past year even as searches for blockchain and cryptocurrency roles have reduced. This indicates that the sentiment among the crypto companies remains bullish. Daily cryptocurrency market performance. Source: Coin360 While the long-term outlook …

For most blockchain-enabled products and services, achieving mainstream adoption has been a nearly impossible goal. Even the most celebrated projects in the crypto ecosystem struggle to expand their community beyond blockchain-savvy users. Augur, the famous betting protocol whose REP token peaked with a market cap of more than $1 billion and was utilized by other respected projects such as Sequoia-backed Veil, is used by less than 200 users on a daily basis. Veil ultimately shut down after 6 months of activity because “it tried to do too much, didn’t offer a good onboarding experience, and existed in a netherworld between …

A Bloomberg report, analyzing data from 13 top exchanges, shows that within a very short span of time, Bitcoin (BTC) futures trading volume has grown to about 50% of spot trading volume. This is the sign of a maturing asset class. Successful operation of the futures market may provide regulators with the confidence they need as many are concerned that a few entities can easily manipulate the markets at will. The institutional players who have been staying away due to wild volatility in the crypto sector are also likely to jump in because the futures and options market provides them …

The sentiment in the crypto markets had turned bullish on the news that Chinese President Xi Jinping has called for businesses and government bodies to support the development and adoption of blockchain technology. However, just days after the comments, the Chinese state media warned that support for blockchain should not be interpreted as an endorsement for cryptocurrencies. During the recent Bitcoin (BTC) rally, institutional interest picked up, which also resulted in a spike in Bitcoin futures volumes on the Bakkt platform. Along with targeting the institutional players, Bakkt dove into the mobile payments sector. Earlier this week the company announced …

The seesaw price action over the past week has lightened up the crypto space once again. While the aggressive bulls view the sharp upside move as a bottoming signal, the bears consider the rise as a bear market rally that should be sold into. However, as traders, our goal should be to identify the trend and trade with it. Bitcoin (BTC) futures trading volume on Bakkt has surged over the past three days. This suggests that the recent market activity has generated interest among institutional traders who expect a sharp directional move. Cryptocurrency market daily performance. Source: Coin360 If the …

China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019. The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal. Reshuffles Compared with the last instalment of the rankings this July, Bitcoin has held its position while altcoin Tron has dislodged Ether (ETH) from the second spot. XRP is up from 30th to 20th-ranked asset. CCID cryptocurrency rankings, Sep. 2019. Source: CCIDnet Qutum (QTUM) has risen …

The total market capitalization has bounced from very close to the $200 billion support, which is a positive sign. The pullback from the dip on Oct. 23 has been broad-based with Bitcoin (BTC) and several altcoins doing well. This shows that the crypto space is generating interest among buyers. Cryptocurrency market daily performance. Source: Coin360 Many major cryptocurrencies are showing signs of selling exhaustion. When the bulls buy breakdowns from critical support levels, instead of panicking, it shows that the sentiment is changing. As the recovery is across the board, it increases the sustainability of the move. Recently, Joel Birch, …

Bitcoin’s (BTC) plunged today, dragging the whole crypto space along with it. The total crypto market capitalization has broken below the $209 billion mark from where it had bounced on two previous occasions in late September. It has psychological support at $200 billion and below this point the total market capitalization could drop to $170 billion. Cryptocurrency daily performance. Source: Coin360 At the moment, there is not a direct reason that explains today’s strong correction. Some analysts believe that Facebook CEO Mark Zuckerberg’s testimony before the United States Congress on Libra might have triggered the fall. They believe that the …