🗞 Daily Crypto News & Video November, 7th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis.
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🗞 Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi
A bitcoin rally to new 2020 highs has been slowed by lower spot volume. Meanwhile, some ether investors are moving capital out of DeFi.
- Bitcoin (BTC) trading around $15,502 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours.
*Bitcoin’s 24-hour range: $15,190-$15,934
*BTC near its 10-day moving average but above the 50-day, a sideways signal for market technicians.
Bitcoin’s price rise stalled Friday after making gains over the past 24 hours, most notably going as high as $15,934, according to CoinDesk 20 data. It was trading at $15,502 as of press time.
“BTC has been bullish for the last four weeks, incredibly rallying from $10,000 to $15,000,” noted Ian Balina, chief executive officer of analysis firm Token Metrics. “This month’s rally is similar to its previous big rally back in 2017 when BTC rallied from $6,000 to almost $20,000 over November and December.”
A bitcoin price push higher will likely require the return of higher-than-average spot volumes. Volumes for Friday were much lower than Thursday, which at $1,569,081,137 was the highest daily average volume day since July 27. On that summer day it hit $1,579,784,44 on major USD/BTC spot exchanges. As of press time, Friday’s spot exchange volume was at $1,064,734,786.
Ether locked in DeFi drops
“Most of the ETH locked in DeFi is to accumulate or accrue tokens that don’t have a tenable value,” Shah noted. “And as those values started to fall dramatically, the ‘APY’ [annual percentage yield] that served as the bait for participation in various pools naturally started dwindling.”
🗞 Ethereum Enters Top 200 Biggest Assets by Market Cap
- Ethereum has just become the top 200th asset in the world, according to AssetDash.
- The cryptocurrency had to overtake a company that manufactures aircraft and spacecraft to achieve this feat.
- Ethereum also beat Volkswagen AG and Spotify.
Ethereum has just become one of the world’s top 200 biggest assets by market capitalization, according to figures published by AssetDash.
“After the recent DeFi price movement, Bitcoin [is] making a move to the upside, ETH is in a strong position to continue this climb. This is just the start,” Charles Storry, co-founder of PhutureDao, told Decrypt.
🗞 As Bitcoin Surges, Google Searches Suggest Little FOMO Among Retail Investors
Web search data suggests popular interest in bitcoin remains at normal levels, despite a sharp price rally to near $16,000.
The top cryptocurrency has chalked up a nearly 50% gain in the past four weeks to trade as high as $15,971 earlier on Friday – a level last seen during the bull market frenzy between December 2017 and January 2018.
Some observers say the rally is now being driven higher by retail greed and fear of missing out (FOMO). However, Google data suggests otherwise.
Google Trends, a barometer used to gauge general interest in trending topics, is currently returning a value of 10 for the worldwide search query "bitcoin price."
🗞 OKEx denies rumblings of founder's criminal detainment, withdrawals still closed
After closing digital asset withdrawals in mid-October, Malta-based crypto exchange OKEx still remains tight-lipped about an unspecified on-going investigation. OKEx claims detainment chatter as simply rumors, although customers are still left without withdrawal access on the exchange, even after three weeks, hearing no palatable details around the scene.
"Claims that a concerned party related to OKEx is under criminal detention have been refuted — we can confirm that these are rumors," OKEx said in a public update today.
Cointelegraph reached out to OKEx for additional details, but received no response as of the time of publication. This article will be updated accordingly should a response come in.
"At the same time, we can assure our users that 100% of their funds can be withdrawn after withdrawals have been resumed on OKEx. Currently, our business operations are stable and running as usual."
🗞 Daily Crypto Calendar, November, 7th💰
- Blockstack (STX)
YHack is Yale's largest annual hackathon and has been running since 2013.
AMA for the upcoming Stacks 2.0 Mainnet Launch that will answer all your questions about Stacks 2.0 and how it ties STX and BTC.
- NoleCoin (NOLE)
"A second snapshot will be done on a random day within a week post the cutoff date of 31st Oct 2020 and those wallets will receive..."
- Amon (AMN)
Crowdfunding during, "First week of november."
- Bluzelle (BLZ), Polkadot (DOT)
"Introducing our #Bluzelle-#Polkadot Week with a long series of partnership announcements with @polkadot-based projects starting from..."
- Roobee (ROOBEE)
ROOBEE farming launches on PancakeSwap.
- Pundi X (NPXS)
"October monthly report is now available! Highlights include compliance tool implementation, #XPOS merchant activations, token listing..."
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