This week Warren Buffett made waves throughout financial media as reports that Berkshire Hathaway sold several bank stocks and purchased shares in Barrick Gold were made public thanks to the company’s latest quarterly shareholder filing. This purchase is significant because Buffet has been a strong critic of gold, however, in the current economic conditions, he appears to have changed his view and sought safety in the asset. Bitcoin advocate Max Kaiser believes that several fund managers are now likely to increase their allocation to gold, which could boost its price to $5,000. Kaiser also expects institutional money to flow into …

An EOS-based decentralized finance project, Equilibrium, has announced its plans to develop a new interoperable protocol on the Polkadot (DOT) blockchain. The project is set to develop an independent parachain connected with Polkadot, featuring an independent utility token called EQ. It acts both as a token for paying transaction fees and for governing the protocol. Equilibrium began as a MakerDAO analog on EOS, but its CEO, Alex Melikhov, told Cointelegraph that the Polkadot transition will also include an expanded suite of products. In addition to a lending protocol that powers a new interoperable stablecoin, it will also allow generalized lending …

China’s blockchain-based Service Network (BSN), the country’s nationwide blockchain project, has just launched an official international website. Appearing on Aug. 10, the new english-language BSN website aims to help bring global developers to the project. Integration with six permissionless blockchains He Yifan, CEO of Red Date Technology, a local private company and a founding member of the BSN, told Cointelegraph that the new website allows developers to use BSN services and public chain services via the portal. As part of the new global effort, the BSN now features live integration of six public chains including Ethereum, EOS, Nervos, Tezos, NEO …

When the EOS network launched in 2018, it looked to be one of the biggest contenders to Ethereum (ETH) — not just in terms of providing a scalable development platform for decentralized apps, or DApps, but also in terms of a well-funded project with great support, and one that could rival Ethereum as the second-ranked cryptocurrency. So far, while EDApps OS is definitely a worthy competitor, it’s hard to argue that it has toppled Ethereum, which houses almost nine times more DApps on its platform than EOS, according to State of the DApps. Nevertheless, EOS remains a top competitor, mainly …

Quantstamp, a company that has been auditing Cardano’s (ADA) code base for the past two months, believes that after the Shelley hard fork, Cardano will trail only Ethereum (ETH) as a smart contract platform, dwarfing its arch-rival Tezos (XTZ). Cardano’s code base “one of the best” Quantstamp CEO Richard Ma told Cointelegraph that in his opinion, Cardano has some of the best code in all of the blockchain space. He believes it is on par with ETH 2.0’s Prysm: “It’s clear they’ve put a lot of internal effort to solidly test and properly engineer the code and it’s really shown …

Yesterday saw many major altcoins rally to their yearly highs, with Ether (ETH) surging past $400, which I expected was a likely scenario in my last article two weeks ago. In addition, XRP also had a bumper day exceeding $0.32 while momentarily outperforming Bitcoin as expected in my July 1 article. However, Bitcoin showed its dominance in the space by wiping out several billion of these gains in a little over an hour. So what does the week ahead look like, and just what sort of impact could Trump's TikTok ban have on the cryptocurrency space? Daily cryptocurrency market snapshot, …

Economists are divided on the consequences of record low interest rates across the globe and the incessant money printing by the central banks. However, one thing that most experts agree upon is that investors should get out of paper money and invest in hard assets. Gold has been the traditional safe haven asset which is preferred by institutional investors looking to hedge their portfolio or protect their purchasing power. However, in this digital age, crypto enthusiasts believe that Bitcoin (BTC) is a better bet than gold. Fidelity Digital Assets believes that the “decentralized settlement network and its digitally scarce native …

Bitcoin (BTC) trading volumes in spot and derivatives markets have been surging since the digital asset rallied above the $10,000 level earlier this week. Bakkt reported record Bitcoin futures volume on July 28 and 29, which indicates that the traders who had been waiting for a trending move to start have established fresh positions. A similar volume increase was seen in the Chicago Mercantile Exchange (CME) and the other crypto exchanges that offer futures trading. A breakout that is followed by an increase in activity and higher open interest is usually a positive sign as it shows that the traders …

Gold made a new lifetime high today, eclipsing the previous high made in 2011. This is possibly the result of investors buying the asset as a way to hedge against the possible debasing of fiat currencies due to the huge stimulus packages announced by various central banks around the world. To date, gold has rallied just over 26% under very favorable circumstances, while Bitcoin (BTC) is up about 50% even when it has been out of favor among investors. This shows that the relatively new asset is braving its first crisis since formation and outperforming traditional safe havens with ease. …

Veteran trader Peter Brandt believes that a new altcoin season is likely to start in the near future and he predicted that altcoins are likely to outperform Bitcoin (BTC) during this next run. In the short-term, altcoins could embark on a rally without the support of Bitcoin but in the long-term it is unlikely that altcoins will rally if Bitcoin struggles to move up. On July 9, the S&P 500 corrected and that resulted in a drop in Bitcoin, which shows that the correlation between the two remains intact. As Bitcoin broke below $9,200 level, it attracted profit booking from …

Altcoins have been buzzing around this week and this has reduced Bitcoin’s (BTC) dominance to 63%. Pantera Capital founder Dan Morehead believes that altcoins are going to outperform Bitcoin, the top-ranked asset on CoinMarketCap, over the next couple of years. This does not mean that Morehead is negative on Bitcoin price because he clarified that the firm expects Bitcoin to “to go up a ton, but altcoins will go up even more.” However, investors should be careful about what they invest because pump and dump schemes and liquidity issues continue to plague many altcoins. Take for example, the recent TikTok …

The U.S. equity markets, gold, crude oil and the crypto markets are all up today. This shows that the U.S. investors have returned from the holiday weekend charged up and ready to buy assets to fight the likely devaluation in the U.S. dollar due to the Federal Reserve’s current monetary policy. Sino Global Capital CEO Matthew Graham believes that China wants to internationalize the renminbi as a direct challenger to the dollar. Hence, the digital yuan will use the latest technologies to counter “Swift, CHIPS, Fedwire [...],” which are all technologies used by the U.S. dollar but are antiqued and …