Category Archives: Crypto News

Russian prime minister proposes legal steps to bring order to crypto market

Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code. Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market. At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for crypto holders in the country in order to contribute to the growth of the new industry. According to Mishustin, such a framework would develop the industry in a “civilized way so that the owners of such assets can […]

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Bitcoin must now reclaim these price levels to resume its rally to $20K

The price of Bitcoin must now reclaim the $18,000 level for a chance to resume November’s bullish trend. Bitcoin (BTC) has been seeing significant momentum in previous weeks as its price was approaching the precious $20,000 all-time high. However, an abrupt end came to this glorious rally, with Bitcoin price crashing severely over the past 24 hours. Cryptocurrency market, 1-day performance. Source: Coin360 While most investors were celebrating a potential new all-time high, the price of Bitcoin dropped from $19,500 to $16,300, a drop of 15% in […]

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Finance Redefined: DeFi gets its first merger after a devastating hack, Nov. 18-25

Pickle Finance got hacked so badly on Saturday that its developers asked to be merged into Yearn. Finance Redefined is Cointelegraph’s weekly DeFi-centric newsletter, delivered to subscribers every Wednesday. On Saturday, we saw one of the most complex smart contract hacks so far affecting Pickle Finance, a yield optimization protocol very similar to Yearn — an important point for later. PeckShield provided a technical explanation for it, but I think only Solidity developers can really understand it. The high-level take is that the hacker found two textbook […]

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Yearn Finance announces another ‘merger’ with the Cream lending protocol

Yearn users will be able to use their strategy pool tokens as collateral for lending. Two days after Yearn Finance (YFI) and Pickle Finance joined forces in DeFi’s first effective merger, Yearn founder Andre Cronje published details of another upcoming integration with Cream, a lending protocol similar to Compound and Aave. The blog post, published on Thursday, outlines how the two protocols will cooperate for the launch of Cream V2. As part of the partnership, the teams will merge development resources and introduce several symbiotic interactions between […]

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Coinbase warns users of connectivity issues due to Amazon AWS outage

The U.S.-based exchange has told users that they may experience some intermittent delays or errors while transacting. Major United States-based cryptocurrency exchange Coinbase is experiencing “elevated error rates on some backend systems due to an AWS service outage” according to an official post on Nov. 25 shortly after 7:00 pm PST. In an announcement, posted nine hours prior, Coinbase said that trading was not being impacted at the time. The following update removed this statement, stating: “You may encounter intermittent delays or errors while transacting, as well as […]

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How massive liquidations caused Bitcoin to plummet 16% in 24 hours

Bitcoin fell to as low as $16,334 across major exchanges as cascading liquidations caused massive volatility. Bitcoin (BTC) price fell by a whopping 16% to $16,334 on Nov. 26 since achieving its peak at $19,484 the previous day. Data suggests that cascading liquidations were the driving force of the massive correction. Prior to the pullback, the open interest of the Bitcoin futures market hit a new record high. The derivatives market was also overheated with buyers, causing the market to sway to one side. BTC futures volumes. […]

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Bitcoin exodus: OKEx users move crypto off exchange as withdrawals resume

Major cryptocurrency exchange OKEx resumed all withdrawals at 8:00 am UTC on Nov. 26, but users already appear to be pulling out their funds, fast.  After a five-week-long suspension of all user withdrawals, cryptocurrency exchange OKEx  resumed normal services at 8:00 am UTC on Nov. 26. Having announced the re-opening last week, OKEx then indicated it would be launching a compensation and rewards program to express its gratitude to customers for holding out during the disruption.  These programs include commission rebate cards denominated in Tether (USDT), a one-time compensation payment based […]

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Bitcoin price continues falling, losing $17K in biggest crash since March

Fresh lows of $16,300 mean that BTC/USD has lost over $3,000 in 24 hours after hitting highs of $19,480. Bitcoin (BTC) has continued falling on Nov. 26 as selling pressure transforms into the biggest losses — in terms of U.S. dollars — since March. Bitcoin price sheds over $3,000 in 24 hours Data from Cointelegraph Markets and TradingView tracked BTC/USD as it lost support at $17,000 to hit fresh local lows of $16,300. At press time, a rebound had secured $16,800, but heavy volatility remained. The latest […]

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Experts say institutions drove Bitcoin’s rise to $19K and that alt-season is coming

Market analysts are attributing Bitcoin’s sudden surge above $19,000 to aggressive demand from financial institutions and leading companies in the United States. Analysts are pointing to demand from financial institutions and publicly listed companies as the primary forces behind BTC’s sudden re-test of its all-time highs. “The primary reason for the steady grind up in Bitcon has been the increased interest and aggressive buying activity from institutions,” said Nick Cote of gamified trading platform Hxro Labs. “A lot of investors are going through Grayscale.” Rising institutional demand […]

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Bitcoin price suddenly drops 11% as whales move BTC to exchanges

A Bitcoin price correction to $17,250 fulfills analysts’ expectations as $20,000 all-time highs prove difficult to overcome. Bitcoin (BTC) dropped $1,000 in minutes on Nov. 26 as a long-awaited pullback hit the market at close to $19,500. BTC price hits $17,250 lows Data from Cointelegraph Markets and TradingView showed BTC/USD experiencing major volatility overnight on Wednesday. After nearly hitting $19,500 during the day’s trading, after-hours saw a period of bearish indecision that ended in a sharp sell-off. Bitcoin then bounced at $17,250, capping daily losses of around […]

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