United States markets have rallied sharply from their March lows, led by the tech sector and Federal Reserve injections designed to hold up the ailing economy. Markets across the globe have also joined the party as a steady economic recovery from the coronavirus pandemic picks up steam. The fast-paced rally in global stock markets has pushed the Buffett Indicator into bubble territory, which suggests that markets might be overheated in the short term. Similarly, gold has seen a sharp rally in 2020, and last week the asset reached a new lifetime high. Silver also followed suit and is trading near …

In the past couple of weeks, the Bitcoin (BTC) price has resurged after months of apparent monetary stagnation. Since July 23, the value of a single Bitcoin has risen by around 20%. Not only that, after trading sideways since its supply squeeze in early May, the premier currency broke through its all-important $10,000 psychological threshold, thus leading many casual investors to once again jump back on the crypto hype train. Bitcoin’s recent price hike has also resulted in a retail boom, with a whole host of trading platforms across the world reporting sky-high Bitcoin trading volumes. As a result of …

On Aug. 4, four U.S. congressional representatives wrote to the Internal Revenue Service (IRS) asking the tax authority not to overtax rewards from Proof-of-Stake blockchains. Explaining the difference in energy consumption between PoS and Proof-of-Work blockchains like Bitcoin’s, Representatives Tom Emmer (R-MN), Darren Soto (D-FL), David Schweikert (R-AZ) and Bill Foster (D-IL) wrote that the IRS may be overestimating gains: “We believe that taxpayers' true gains from these tokens should indeed be taxed. However, it is possible the taxation of 'staking' rewards as income may overstate taxpayers' actual gains from participating in this new technology.” Industry response and clarity on …

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 …

eToro experienced a decline in growth of investor interest in every cryptocurrency except Tezos (XTZ) in the second quarter of 2020. Top 5 cryptocurrencies by the growth in number of eToro users investing in it in Q2. Souce: eToro. Although Tezos saw a small uptick in the number of eToro users investing in the last quarter — only 2.53%, it was enough to take first place with 8.12% growth in growth. The growth for every other asset decelerated for every other cryptocurrency with most experiencing a double digit decline. Tezos’ exceptional performance may be explained by its low base (low …

Chainlink (LINK) reached an all-time high of $5.60, appreciating 15% on the day. This comes amid the news that China’s Blockchain Service Network, or BSN, launched this past weekend. LINK price over the past 12 months. Source: Nomics. The BSN recently integrated Chainlink’s price oracles into its ecosystem. The founding members of the BSN consortium were local tech leviathans like the China Mobile Communication Corporation and China Union Pay. Its stated goal is to advance blockchain technology in China. 135 nodes go live in China A source familiar with BSN’s launch told Cointelegraph that the 135 nodes nodes of the …

Altcoins have been taking the spotlight as massive surges are seen across the board. Some have been making 1,000% moves or more such as Aave (LEND) and Zilliqa (ZIL), for example. Others are slowly waking up out of the ashes, and some are printing new all-time highs. One of those recent all-time highs is Chainlink (LINK), as its price broke above $5 for the first time ever. Once Chainlink moves, Tezos (XTZ) follows. Will it be the same this time? Crypto market daily performance. Source: Coin360 Chainlink breaks above resistance and prints a new all-time high LINK/USDT one-day chart. Source: …

Bridgewater CIO Ray Dalio said that central banks have moved away from their traditional role and have become owners of assets since the 2008 Financial crisis. They now act as “market makers.” Therefore, the “capital markets are not free” anymore. Dalio warned that the US dollar is likely to lose its attractiveness as the reserve currency of the world. Crypto market data daily view. Source: Coin360 However, it will be a while before the current economic system crumbles due to the measures taken by the central banks. Until the majority do not realize that money printing cannot be the solution …

Decentralized finance, or DeFi, offers potential growth opportunities said the chief executive of digital assets management company HyperChain Capital. HyperChain CEO Stelian Balta said in a press release DeFi “has a huge opportunity to grow” and that digital currencies and blockchains are something the company continues to look on with interest. “I believe DeFi space has a huge opportunity to grow and one of the leaders in DeFi space, Kyber Network, just crossed $1 billion dollars in trading volume and project market cap is worth more than $300 million dollars, which I think is way undervalued. Also, we think the …

According to the latest report from Flipside Crypto, Chainlink is spending one million LINKs a month rewarding node operators, outspending Ethereum by a wide margin. Chainlink’s aggressive expansion The researchers observed that 500,000 Chainlink (LINK) are sent to node operators twice a month. Flows of LINK tokens within the crypto ecosystem. Source: Flipside Crypto. At current prices, this support constitutes almost $5 million dollars a month or close to $60 million annually. At the same time, the Ethereum Foundation is expected to spend $30 million this year. Meanwhile, Ether’s (ETH) market capitalization is roughly 15 times that of Chainlink. This …

The Tezos (XTZ) class-action lawsuit from law firm Block & Leviton will likely conclude in a $25-million settlement on August 27. Tezos, like many initial coin offerings (ICO) from 2017, has come under scrutiny from both investors and regulators alike alleging that its token sale constituted an illegal offering of securities. Indeed, the U.S. Securities and Exchange Commission (SEC) has come down hard on numerous 2017-era ICOs demanding penalties for securities violation. Even distributions to non-U.S. citizens have also come under the SEC’s radar, as was the case with Telegram. The SEC has consistently maintained that most ICOs are indeed …

What do lunar cycles and market cycles have in common? Tune in to the livestream above to find out! This week’s guests include technical cryptocurrency trader NebraskanGooner and disc jockey turned part-time Bitcoin investor DJ Thistle. The discussion will cover technical analysis of the Bitcoin, Ethereum, Tezos, and NEO cryptocurrency markets. We’ll then unpack the relationship between Bitcoin and altcoins before moving on to discuss the rumors that PayPal and Venmo may be integrating cryptocurrency payments into their systems. Finally, we’ll compare the trading styles of our two guests in an attempt to better understand Thistle’s unique method. During the …