Eleven projects joined the race when Kusama parachain auctions started on June 15. A few more got in during the latter auctions of the first batch. With impressive gains to the tune of 900,000 KSM (approximately $180 million, at the time of writing), are Kusama auctions still fair and democratic, or is everything already decided by whales? Let’s analyze the available data and attempt to illuminate the current standings. Where we are now As announced on June 8, the first batch of parachain auctions on Kusama includes five events, each of them one week long. During the auction, projects are …

Bitcoin price staged a mild resurgence at the start of this week but data from Glassnode suggests that its new BTC investors who came late to the party and are dumping their positions in a panic. This transfer of crypto assets from speculators or momentum chasers to long-term investors is a positive sign. This lays the groundwork for the start of the next bull run but it may not happen in a hurry. At the moment, institutions are unlikely to buy aggressively and propel the price of Bitcoin higher because there is still a chance that they can accumulate at …

Bitcoin (BTC) is attempting to stage a relief rally but analysts at JPMorgan Chase believe that the short-term setup looks challenging. However, the analysts also pointed out that the crypto markets had started a healing process. A sign of this 'healing process' was seen when the crypto markets did not react negatively to the news that the United Kingdom’s Financial Conduct Authority banned Binance Markets Limited from undertaking “any regulated activity in the UK.” When a market reacts negatively to bad news, it is a sign that weaker hands are panicking and dumping their positions. On the other hand, a …

Bitcoin (BTC) price remains jittery and throughout this week, every relief rally is being sold into. This is a classic bear market reaction and may not end in a hurry. However, the current price action should not worry investors because the longer the time spent in a bottoming formation, the stronger the base for the next leg of the up-move. In a recent note to investors, JPMorgan said that Bitcoin’s fair value may remain between $23,000 and $35,000 over the medium term. The bank pointed out that outflows from crypto Bitcoin funds since the fall on May 19, show a …

Bitcoin (BTC) dropped below $30,000 on June 22, which may be a final sign of capitulation. Data from Skew suggests that if Bitcoin’s price does not recover sharply in the next few days, the decline in the current quarter could be the second-worst quarter since 2014. Bull and bear phases are part and parcel of every asset class. All the legacy markets have witnessed several bear phases with massive drawdowns in the past. However, after the bear phase ends, a new bull market begins and long-term investors are usually rewarded with strong gains. The crypto markets are presently witnessing a …

A blockchain application platform has proudly unveiled a brand-new interoperability solution at an annual event held for developers. In total, eight roadmap objectives were unveiled by Lisk during the self-titled Lisk.js conference, which was held virtually and live-streamed from a stage in Berlin. One of the most significant of these is cross-chain update transactions, which ensure that information can be carried securely and quickly between networks. Details were also revealed about how sidechains will be introduced to the Lisk ecosystem — and the safeguards in place that ensure sidechains can be terminated if necessary. Support is also going to be …

Karura network has emerged as the winner of the maiden Kusama parachain slot auction. According to an announcement issued on Tuesday, Karura pulled support from over 15,000 entities who staked Kusama (KSM) tokens in favor of adding the decentralized finance hub as the first Kusama parachain. In total, Karura locked up over 500,000 KSM currently valued at $90 million based on the Kusama market price as of the time of writing. Earlier in June, United States crypto trading platform Kraken launched a parachain auction platform for users to support bids for Karura. The first-ever @kusamanetwork parachain slot auction has been …

In a bearish environment, traders latch on to every bit of negative news and make that a an excuse to sell. Bitcoin (BTC) dropped over $1,000 within a few minutes as news hit the stands that the third-largest Chinese bank, the Agricultural Bank of China, will not allow the use of its services for crypto transactions. Although the bank later deleted its anti-crypto statement, the damage was already done. Similarly, traders have latched on to the news that the Chinese crackdown on Bitcoin miners and this has resulted in the hash rate dropping to an 8-month low. While this may …

The U.S. Federal Reserve updated their inflation expectations for this year from 2.4% in March to 3.4% in their latest meeting that concluded on June 16. To tame inflation, the Fed plans to undertake two rate hikes before the end of 2023. This news has boosted the U.S. dollar index DXY to its best level since mid-April. Gold’s price, which generally has an inverse correlation with the dollar, has dropped to a 6-week low. The U.S. equity markets have also not been spared. The Dow Jones Industrial Average index is on track for its worst weekly performance since January this …

Imagine a fantasy MMO role playing game in which every character is an NFT that can be equipped with other NFTs. A nonfungible token can be a suit of armor or a magic sword that can be put on the character to use in the game, stored in a backpack (itself an NFT), or sold at an auction house. The backpack holds other NFTs the player collects while in the game: Magic potions that give more strength or speed, food to keep the character moving at full speed, rope that can be used to climb a building. Even a curse …

Bitcoin’s price (BTC) turned down from just above the $41,000 mark on June 15, suggesting that traders are halting their purchases at higher levels. Traders seem to be hesitant to take large bets until the U.S. Federal Reserve releases its latest economic projections and the timeline of the proposed rate hikes today. However, Jurrien Timmer, the director of global macro at Fidelity Investments believes that Bitcoin has bottomed out. Another positive sign comes from a Q2 retail investment survey of high-frequency traders by the crypto firm Voyager Digital that shows 81% of the participants are confident about the future of …

Polkadot's Kusama council passed Motion 310 on Tuesday, confirming the start of the first slot auction on the Kusama network. According to details shared on the Polkadot governance platform Polkassembly, 13 out of the 19 “seats” on the Kusama council voted in favor of commencing the slot auction process. As previously reported by Cointelegraph, Polkadot and Kusama co-founder Gavin Wood had published a tentative schedule for the Kusama slot auctions back on June 8. These slot auctions will decide the parachains that will be added to the Kusama relay chain. Kusama functions as a canary network for Polkadot, which according …