Category: Analysis
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Data shows most Bitcoin exchanges require negligible KYC
A new report by on-chain analytics firm CipherTrace found out that most Bitcoin and crypto Know Your Customer (KYC) processes can be exploited by money launderers, criminals, and extremists. Now available! Our 2020 Geographic Risk Report: VASP KYC by Jurisdiction is the virtual asset industry’s first comprehensive global KYC risk assessment. https://t.co/fD1RJr5zNu #KYC #AML #CTF…
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Bitcoin plunges below $10,500 as U.S. government peruses BitMEX owners
Bitcoin’s price has been rocked by news of the Commodities and Futures Trading Commission bringing charges against popular margin trading platform BitMEX. One of the platform’s co-founders, Samuel Reed, was arrested at his home in Massachusetts earlier today, potentially facing a maximum prison sentence of five years for violating the Bank Secrecy Act and conspiring…
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YFI, Aave, Maker surge up to 30% overnight, what’s fueling the DeFi recovery?
Yearn.finance (YFI), Aave (LEND), and Maker have surged 12% to 30% overnight. The decentralized finance (DeFi) market strongly rebounded in a short period, lifting the overall market sentiment. Two factors primarily triggered the resurgence of DeFi in the last 24 hours. First, Bitcoin and Ethereum rallied overnight ahead of the quarterly close. Second, the DeFi…
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Why analysts are concerned with Yearn.finance (YFI) following EMN debacle
YFI – the governance token of the Yearn.finance ecosystem – has been plunging lower throughout the past 24 hours, with it reverting nearly all of its recent gains as buying pressure begins evaporating. Yesterday, the drama surrounding one of the external projects being developed by Yearn.finance founder Andre Cronje helped fuel the token’s ongoing downtrend. This…
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Synthetix Network Token (SNX) rebounds as on-chain strength flourishes
Synthetix Network Token’s price has seen some volatility over the past couple of days, with inflows of selling pressure coming about due to the massive amount of SNX tokens stolen due to the recent KuCoin hack. Buyers were aggressive with absorbing this selling pressure, however, and have since pushed the cryptocurrency higher as its mid-term…
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3 key reasons Yearn.finance (YFI) fell 20% in a steep correction
Yearn.finance (YFI), the decentralized finance (DeFi) giant popular for its vaults, fell by 20% within nine hours. Three key factors contributed to the pullback: the Eminence exploit, Bitcoin price drop, and overall market weakness. The 4-hour price chart of Yearn.finance. Source: YFIUSDT on TradingView.com Eminence exploit causes controversy On September 29, users began to stake…
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Analytics firm: Bitcoin investor sentiment reaches 2-year low as momentum stalls
Bitcoin’s price action has been fairly boring in recent weeks, with it establishing a wide trading range between $10,200 and $11,200. Both of these levels have sparked noticeable reactions from BTC’s price each time that they are visited. This has offered investors with little insight into the crypto’s near-term outlook, and it does seem as…
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History shows Ethereum’s mid-term uptrend isn’t over despite 30% pullback
Ethereum has been hit hard by the recent market-wide downturn, with the retrace seen by the decentralized finance sector likely being the main suspect behind this weakness. The cryptocurrency rallied up towards $500 earlier this month, marking a massive extension of the uptrend that started in mid-March when it plummeted beneath $100. Over the past…
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CEO: Dropping whale inflows positive for Bitcoin, lifeline for DeFi market?
According to CryptoQuant CEO Ki Young Ju, Bitcoin whale inflows are decreasing. The drop in whale activity suggests high-net-worth investors are not currently selling large amounts of BTC. For decentralized finance (DeFi) tokens that have been underperforming, it could serve as a lifeline. In the past week, both major and small-cap DeFi tokens have struggled…