Stephen Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, believes that the supremacy of the U.S. dollar is likely to be challenged and the greenback could decline by as much as 35%. This impending dollar weakness could benefit gold and cryptocurrencies. Several large traders have been accumulating Bitcoin (BTC) and according to on-chain data this has boosted the number of whales — traders holding 1,000 or more of the top-ranked cryptocurrency on CoinMarketCap — to 1,882. Usually, large traders build huge positions when they expect a sustained uptrend. Daily cryptocurrency market performance. Source: Coin360 …

Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, published an opinion on June 17 arguing that XRP does not fulfil the criteria to be considered a security according to the Howey Test. Giancarlo left the CFTC in April 2019, and he is no longer in charge of making such decisions. Perhaps even more questionably, he is now financially linked to Ripple, the biggest holder of XRP tokens. “XRP is not a security” So says Giancarlo, who is also known as “Crypto Dad.” He was the one who got Bitcoin (BTC) and Ether (ETH) declared commodities in the first place, …

Cryptocurrencies forensics experts from Xrplorer warned on June 15 of an elaborate phishing scam where hackers try to steal the secret keys of XRP users, under the false premise that Ripple is giving away tokens. According to the report, the scam campaign, whose origin dates back to approximately January 17, 2020, began sending memo messages with minimal XRP amounts that said: “Starting February 1, 2020, Ripple is releasing 3 Billion XRP to incentivize network users. Get 25% more XRP added to your account balance in just minutes.” The scammers linked to a website inside the memo impersonating the Ripple’s Insight …

Bitcoin (BTC) futures daily trading volume plunged sharply from about $20 billion on June 11 to about $5 billion on June 13. This is a negative sign because the volume increased during the sharp fall on June 11 but reduced during the rebound on June 12 and 13. On June 14, the top-ranked cryptocurrency on CoinMarketCap declined but the futures volume picked up, suggesting a higher number of bearish trades on market declines and a lesser number of bullish trades during pullbacks. While the trading volume fell, open interest on Bitcoin derivatives has risen to about $4 billion for the …

Brazil could be the next area for crypto firm Ripple to reach with a cross-border payments corridor, which could lead to its use in other Latin American nations. In an interview posted to the ‘Future of Finance’ YouTube channel on June 8, Ripple Head of Global Banking Marjan Delatinne said the crypto firm was working on the development of a cross-border payment system for Brazil. When explaining Ripple’s On-Demand Liquidity (ODL) to moderator Dominic Hobson, Delatinne said the firm was planning to extend its services to “exotic corridors”, naming countries like the Philippines and Brazil as markets “where you don’t …

The S&P 500 plunged 5.89% on June 11, its fourth-worst fall this year. This brought back memories of the sharp sell-off seen in March when investors dumped most asset classes as the coronavirus pandemic took hold. Although gold managed to close in the green on June 11, Bitcoin (BTC) plunged 6.16%. This suggests that investors sought the safety of gold over BTC, the top-ranked cryptocurrency on CoinMarketCap. The Organization for Economic Co-operation and Development said in a report that governments should prepare for a possible second wave of coronavirus cases. The OECD heavily emphasized the continuance of ultra-accommodative monetary policies …

About one-third of institutional investors surveyed by Fidelity said they have invested in digital assets. 25% of the survey participants said that they hold Bitcoin (BTC) and 11% confirmed that they hold Ether (ETH). While these are encouraging signs, the future looks even brighter as 91% of survey participants expect to hold at least 0.5% of their portfolio in crypto assets in the next five years. Total Bitcoin options open interest has risen from $1 billion on May 7 to over $1.5 billion on June 9, according to data from Skew. This shows growing interest among institutional investors who expect …

Global money transfer platform MoneyGram recently unveiled year-over-year growth numbers, showing double the number of transactions seen in May 2019. MoneyGram ended Q1 2020 with 57% growth in digital transactions, a June 9 statement from the company said. The firm saw activity ramp up another 43% by May's end. MoneyGram's partnership with Ripple Blockchain-based money-transfer company Ripple entered a deal with MoneyGram in June 2019, investing $50 million into the MoneyGram's platform. The partnership saw the digital money transfer platform able to harness Ripple's xRapid technology. In February 2020, calling on Visa's technology, MoneyGram unveiled real-time money transfers. Ripple reportedly …

The total crypto market capitalization was close to $270 billion on May 8 and currently, the metric stands at $275 billion. This suggests that the crypto markets have been largely stuck in a range for about a month. Daily cryptocurrency market performance. Source: Coin360 As reported by Cointelegraph, Bitcoin (BTC) miners are holding on to their newly minted coins and this behavior usually occurs when Bitcoin holders expect higher price in the future. Data also shows that Bitcoin reserves on cryptocurrency exchanges have plunged to a 12-month low. The fundamentals are pointing to a possible rally in Bitcoin, but do …

The U.S. equity markets are on a tear as the traders cheer the largest jobs gain ever. This report has improved sentiment as it suggests that the blip in the economy due to the pandemic was temporary. Many traders who had been sitting on the sidelines are likely to jump into stocks due to fear of missing out on what could be the early stages of a strong rally. This shift into stocks has resulted in a drop in gold price, which is considered as a safe haven against market volatility. However, it is important to note that the crypto …

Charlie Shrem has been involved in crypto longer than almost anyone. He likes to joke that he was one of the first ten people to ever hear about Bitcoin. He now hosts the crypto-focused podcast Untold Stories, which attempts to chronicle the history of crypto through the eyes and experiences of its most influential players. Cointelegraph’s most recent live Q&A gave the audience the opportunity to directly question Shrem about crypto, his past, and anything in between. The topics ranged from XRP, DApps, and stablecoins to his time spent in prison. Shrem revealed how he first heard about Bitcoin, who …

Blockstream CEO Adam Back recently said that institutional money is not needed to propel Bitcoin (BTC) to $300,000 within five years. This is partially because the current financial situation could drive retail traders to look for alternative investments to preserve the value of money in a time where there is a lot of money printing across the world. This is likely to create enough demand from retail traders to start the next mega bull run in the top-ranked cryptocurrency on CoinMarketCap. A strong resistance level that has held on two or more occasions and resulted in a major reversal can …