Top crypto traders explain why Yearn.finance (YFI) may top $50K soon

Over the weekend YFI, the native token of Yearn.finance, reached a new all-time high at $43,966 on Binance exchange. This occurred as the crypto market was still reeling from Bitcoin’s (BTC) sharp 17.5% correction which saw its price drop as low as $9,800 on some exchanges.  As Bitcoin price slowly recovered, YFI price increased by over 100% since Sept. 9 and many analysts now believe the token will make a run at the $50K mark soon.  The daily chart of Yearn.finance (YFI). Source: TradingView.com What’s behind YFI’s surge?  The confluence…

Ethereum Fractal From 2019 Says 2020 Top In Crypto Could Be In

Ethereum is at a pivotal, make or break it moment. While Bitcoin has set a higher low, Ethereum’s higher high implies things are a lot more bullish for the altcoin. But could a fractal matching the trajectory of the 2019 crypto rally and top hint that the top for the year is in for altcoins? Top Altcoin’s Higher High Could Be 2020 Top If Patterns Repeat Litecoin’s halving took the industry out of bear market lows and help to begin the long thaw out of the extended crypto winter. Although…

This Top Macro Analyst Is Bullish on Ethereum’s Nexus Mutual (NXM)

Ethereum’s decentralized finance space has been catching a lot of attention over the past few weeks. This is for good reason: since the start of the year, the value of tokens locked in DeFi has surged in excess of 1,000%. Certain projects, too, have come under the scope of top investors. One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, thinks that Nexus Mutual, an Ethereum-based decentralized mutual, is a project with strong potential. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Remi Tetot…

Beijing pulls ahead of Shenzhen as China’s top blockchain city

Beijing has been named as China’s top blockchain city in the 2020 Chinese Blockchain Innovation Rankings ahead of the blockchain hub of Shenzhen. The rankings were revealed in a special session at the China International Fair for Trade in Services Summit. According to Finance China, Beijing had a score of 99.82 while Shenzhen — a city with more than 5,000 blockchain firms — lagged behind with a score of 91.2. The nation’s second largest city Shanghai has a score of 88. One of the biggest business capitals in East Asia…

DeFi goes boom as top tokens crash by 50% in one week

The decentralized finance (DeFi) bubble appears to have popped for the time being, with half a dozen top DeFi tokens shedding half of their fiat value over the past seven days. According to crypto market data firm Messari’s list of DeFi assets, 32 of 34 markets are down over the past week — with only PowerPool (CVP) and SushiSwap (SUSHI) posting seven-day price gains. The markets hardest hit include Curve — which is down 65% this week, followed by Meta with a 58% loss, Ren with 52%, AirSwap with 51%,…

These 3 key indicators signalled Bitcoin price reached a $12K top

Last week’s Bitcoin (BTC) 11.4% drop might have seemed unexpected or entirely out of the norm. The truth is, the lack of a more substantial correction since the 50% drop that occurred on March 12 was the unusual part. Some analysts and investors have said that the current DeFi boom was an unmistakable sign of excessive optimism, as some newly launched tokens quickly reached $1 billion market capitalization.  Yet, unlike the 2017 ICO frenzy where most projects weren’t even able to launch their mainnet, most current DeFi tokens already have…

Overview of the top 5 DEXs by total trade volume

One of the most groundbreaking advancements to come out from within the realm of blockchain technology is the concept of a decentralized exchange. In its most basic form, a DEX can be thought of as a cryptocurrency buy/sell platform that allows its users to facilitate monetary exchanges without the need of any assets having to make their way to the exchange itself, reducing the risk of thefts, hacks and other human-related errors. Furthermore, owing to their intrinsic design, DEXs are better equipped to prevent issues such as price manipulation, trade…

Bitcoin’s Selloff Shakes Out “Top Buyers” as Analysts Eye Further Blood

It has been a rough past few days for Bitcoin, with the benchmark digital asset erasing virtually all of the gains that came about as a result of its strong uptrend seen throughout the past several days and weeks. The cryptocurrency has mostly been consolidating for the past couple of months, with buyers ardently defending $11,000 while bears stopped it from breaking above $12,000. The latest rejection it posted within the lower-$12,000 region happened just a few days ago and was the event that first caused the market to begin…

Top Australian BitConnect promoter banned by ASIC for 7 years

The Australian Securities and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, the former ‘Australian National Representative’ of the multi-billion-dollar crypto Ponzi scheme BitConnect, from providing financial services for seven years. ASIC asserts that the New South Wales resident provided unlicensed financial product advice and engaged in misleading and deceptive conduct while working for BitConnect from August 2017 through January 2018. While an investigation is still ongoing, the regulator has found that: “Mr. Bigatton is not a fit and proper person to provide financial services: is not adequately trained,…