Connect with us
[crypto-donation-box]

Blockchain

Polkadot Overtakes XRP for Fourth-Largest Crypto

Polkadot Overtakes XRP for Fourth-Largest Crypto

DOT fires up its engines as it takes the spot for the top 4 crypto by market capitalization The project had a huge 26% gain in the last 24 hours leading to this change in rank Polkadot’s native stats show even bigger gains than what was reported in CoinGecko Polkadot just took the spot as …

The post Polkadot Overtakes XRP for Fourth-Largest Crypto appeared first on CoinQuora -Latest Cryptocurrency and Blockchain News..

Republished by Plato

Published

on

  • DOT fires up its engines as it takes the spot for the top 4 crypto by market capitalization
  • The project had a huge 26% gain in the last 24 hours leading to this change in rank
  • Polkadot’s native stats show even bigger gains than what was reported in CoinGecko

Polkadot just took the spot as the fourth largest crypto. According to statistics from one of the best coin information websites, CoinGecko, DOT just snatched the rank from XRP.

We’ve seen altcoins moon here and there during the altseason, but DOT has arguably been the most consistent. The altcoin has been in the top 10 coins of 2020 for a while now.
Polkadot chart

As we can see in the chart above, DOT reached a remarkable high of $14.80 before bouncing back to $14.45. This price movement boosted its market capitalization at $13.7 billion, leaving XRP slightly below with its $13.5 billion market capitalization.

In Polkadot’s native statistical records, the platform shows an even higher market capitalization of $14.8 billion. However, the Binance-owned coin information site, CoinMarketCap, disagrees with the data and still shows DOT at $12.6 billion.

DOT recently joined the ranks of Cardano (ADA), Tezos (XTZ), and Cosmos in the Moonstake Wallet staking wallet. Moonstake offers DOT stakers an annual percentage yield (APY) of 13.61%.

Read also: Expected Top 10 Cryptocurrencies in 2021

Source: https://coinquora.com/polkadot-overtakes-xrp/

Blockchain

Buyer of Jack Dorsey’s ‘genesis tweet NFT’ reportedly detained in Iran

Republished by Plato

Published

on

Iranian Cyber Police have reportedly arrested Bridge Oracle CEO Sina Estavi, according to a tweet pinned to Estavi’s Twitter account.

A rough translation of the tweet reads:

“The owner of this account was arrested on charges of disrupting the economic system by order of Special Court for Economic Crimes. Official judicial authorities will provide additional information.”

The same tweet is also pinned to the official account of Bridge Oracle, a Tron Network-based public oracle system. At the time of writing, the price of Bridge Oracle’s native token, BRG, has taken a sharp dive, crashing by more than 65%, according to data from TradingView.

Bridge Oracle is said to be a Malaysia-based blockchain company, but Estavi’s other venture, cryptocurrency exchange Cryptoland, was operating in Iran. Cryptoland’s Twitter account shares the same pinned tweet. No further information was shared publicly by the authorities.

Estavi is known for his heated bidding battle with tech entrepreneur and Tron CEO Justin Sun to buy Jack Dorsey’s first-ever tweet as an NFT. Twitter’s first tweet is dated March 2006 and reads, “Just setting up my twttr.”

In the end, Estavi successfully purchased the NFT for more than $2.9 million, or 1,630 Ether (ETH). Dorsey converted the proceeds to Bitcoin (BTC) and donated them to a charity organization in Africa.

Earlier this year, Estavi was sued by former Bitcoin.com CEO Mate Tokay for allegedly failing to pay him for his services. In his claim, Tokay also alleged that there’s an inconsistency between the purported and actual circulating supply of BRG.

Cointelegraph reached out to Bridge Oracle for comment. This article will be updated should they reply.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/buyer-of-jack-dorsey-s-genesis-tweet-nft-reportedly-detained-in-iran

Continue Reading

Blockchain

Bank of America to Settle Stock Trades on Paxos Network

Republished by Plato

Published

on

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptobriefing.com/bank-america-settle-stock-trades-paxos-network/

Continue Reading

Blockchain

Is Bitcoin nearing another Black Thursday crash? Here’s what BTC derivatives suggest

Republished by Plato

Published

on

Bitcoin’s 51.4% crash in March 2020 was the most horrific 24-hour black swan event in the digital asset’s history. The recent price activity of the past week has probably resurrected similar emotions for investors who experienced the Black Thursday crash. 

Over the past week, Bitcoin’s (BTC) price dropped 29% to reach a three-month low at $42,150. $5.5 billion in long contracts were liquidated, which is undoubtedly a record-high in absolute terms. Still, the impact of the March 2020 crash on derivatives was orders of magnitude higher.

To understand why the current correction is less severe than the one in March 2020, we will start by analyzing the perpetual futures premium. These contracts, also known as inverse swaps, face an adjustment every eight hours, so any price gap with traditional spot markets can be easily arbitrated.

Sometimes, price discrepancies arise during moments of panic due to concerns about the derivatives exchange’s liquidity or market makers being unable to participate during times of extreme volatility.

Bitcoin perpetual premium/discount vs. spot price, March 2020. Source: TradingView

On March 12, 2020, the Bitcoin perpetual futures initiated a much larger descent than the price on spot exchanges. This move is partially explained by the cascading liquidations that took place, creating a backlog of large sell orders unable to find liquidity at reasonable prices.

The aftermath of the bloodbath resulted in futures perpetual contracts trading at a 12% discount versus regular spot exchanges. BitMEX, the largest derivatives market at the time, went offline for 25 minutes, causing havoc as investors became suspicious about its liquidity conditions.

By comparing this event with the most recent week, one will find that sustainable price discrepancies are very unusual. Even a temporary 12% gap doesn’t occur, even during the most volatile hours.

Bitcoin perpetual premium/discount vs. spot price, May 2021. Source: TradingView

Take notice of how the perpetual contracts reached a peak 4% discount versus regular spot exchanges on May 13, although it lasted less than five minutes. Market makers and arbitrage desks could have been caught off guard but quickly managed to recoup liquidity by buying the perpetual contracts at a discount.

To understand the impact of those crashes on professional traders, the 25% delta skew is the best metric, as it compares similar call (buy) and put (sell) options’ pricing. When market makers and whales fear that Bitcoin’s price could crash, they demand a higher premium for the neutral-to-bearish put options. This movement causes the 25% delta skew to shift positively.

Bitcoin options 25% delta skew, March 2020. Source: Skew

The above chart displays the mind-blowing 59% peak one-month Bitcoin options delta skew in March 2020. This data shows absolute fear and an incapacity to price the put (sell) options, causing the distortion. Even if one excludes the intraday peak, the 25% delta skew presented sustained periods above 20, indicating extreme “fear.”

Bitcoin options 25% delta skew, May 2021. Source: Laevitas

Over the past week, the skew indicator peaked at 14%, which isn’t very far from the “neutral” -10% to +10% range. It is indeed a striking difference from the previous months’ negative skew, indicating optimism, but nothing out of the ordinary.

Therefore, although the recent 29% price drop in seven days could have been devastating for traders using leverage, the overall impact on derivatives has been modest.

This data shows that the market has been incredibly resilient as of late, but this strength might be tested if Bitcoin’s price continues to drop.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/is-bitcoin-nearing-another-black-thursday-crash-here-s-what-btc-derivatives-suggest

Continue Reading
Blockchain5 days ago

dotmoovs Raises $840,000 From Strategic Investors and Partners

Blockchain4 days ago

US Investment Bank Cowen to Offer Crypto Custody Services

Blockchain5 days ago

Ethernity Chain Immortalizes Tony Hawk’s Last 540 Skate Trick With NFT

Blockchain4 days ago

Buterin Plugs UNI as Next Oracle Token

Blockchain5 days ago

Which ‘green’ cryptocurrency is Tesla likely to add for payments?

Blockchain5 days ago

Bitwise Launches ‘Crypto Innovators’ ETF

Blockchain4 days ago

Elon Musk Pokes Massive Hole in the Bitcoin Market After Halting Bitcoin Payments at Tesla

Blockchain5 days ago

BitMEX Executives to Face Trial in March 2022

Blockchain5 days ago

Facebook’s Diem Enters Crypto Space With Diem USD Stablecoin

Blockchain5 days ago

Venture platform Cognitive Blockchain invests in cross-chain compute network Cudos

Blockchain5 days ago

Ethernity Chain Memorializes Tony Hawk’s Latest 540 Skate Trick With NFT

Blockchain5 days ago

Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour

Blockchain4 days ago

The STC Token is Live – And Over 10 Crypto Exchanges are Ready for It

Blockchain4 days ago

Diem parters with Silvergate bank to launch stablecoin in the US

Blockchain4 days ago

DeFi Staple UMA Launches “Optimistic Oracle”

Blockchain4 days ago

MicroStrategy Buys Another $15M Worth of Bitcoin at $55K

Blockchain5 days ago

In Less than A Week, How Internet Computer (ICP) Climbed To The Top 10

Blockchain4 days ago

Here’s why Ethereum, AAVE, ALPHA are unfazed by Bitcoin’s latest ‘Elon candle’

Blockchain5 days ago

Vitalik Buterin Has Dumped His Unsolicited Doge-Clones

Blockchain4 days ago

Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot

Trending