Maker Price Prediction: MKR Poised For Breakdown To $500

Maker holds at ascending channel support after rejection at $600. MKR/USD could explore levels below $500 if the 50 SMA support caves in. Maker, a leading project in decentralized finance (DeFi) is showing signs of retreat. The bearish outlook comes after another rejection from $600. At the time of writing, Maker is exchanging hands at […]

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Over 32,000 Bitcoins (BTC) Withdrawn From Crypto Exchange BitMEX After CFTC Charges

On Thursday, October 1, the U.S. CFTC filed a complaint against crypto exchange BitMEX accusing it of illegal crypto derivative trading and money laundering. Hours later, BitMEX responded denying all charges and assuring investors that their funds are absolutely safe with the exchange. However, the damage was already done! As per the fresh report by […]

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Gold Pumps, Bitcoin Blips as Trump Tests Positive For Coronavirus

Markets are reacting to the news that U.S. President Trump tested positive for Covid-19 a few hours ago. Gold is up but stocks and Bitcoin are down, how far further will they fall? The POTUS took a Coronavirus test a few hours ago which produced a positive result for him and the First Lady. Stock […]

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6X Bitcoin: Ethereum Miners Made $166 Million from Gas Fees in September

6X Bitcoin: Ethereum Miners Made $166 Million from Gas Fees in September

It pays to be a miner and process cryptocurrency transactions on a proof-of-work blockchain. The Ethereum miners know this especially well as they made a record $166 million last month from transaction fees. Bitcoin miners, however, could barely manage to scoop up $26 million. Ethereum Miners Made 6X More Money Than Bitcoin Miners in Sept […]

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Open Interest on Bitmex Drops 16%:  Investors Withdraw 37,000 BTC in Less Than 24 Hours

Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours

Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform. According to Arcane Research’s post on Twitter, “the former […]

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Bitcoin Price Analysis: BTC Heads Lower on BitMEX News. Will $10K Hold?

Bitcoin Price Analysis: BTC Heads Lower on BitMEX News. Will $10K Hold?

Bitcoin’s price continues to tumble in response to yesterday’s breaking news that the United States Commodity and Futures Commission (CTFC) and the Federal Bureau of Investigation (FBI) have both decided to take legal action against leading Bitcoin derivatives exchange, BitMEX. $18 billion has been wiped out from the global crypto market since the announcement, and over […]

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19% of All Bitcoins Stored On BitMEX Withdrawn After The CFTC Charges

19% of All Bitcoins Stored On BitMEX Withdrawn After The CFTC Charges

Recent data revealed that cryptocurrency traders had withdrawn the first batch of 23,200 BTC (worth over $240 million) from BitMEX in the initial hours following yesterday’s developments.   This substantial amount represented about 13% of all bitcoins held on the popular Bitcoin derivatives exchange.   The Glassnode data indicated that this is the “largest hourly […]

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