First Mover Asia: Bitcoin Continues Its Drift Below $60K as Investors Eye Shoppers’ Response to Inflationary Pressures, Biden Pick for Fed Chair

Good morning. Here’s what’s happening this morning: Market moves: Bitcoin continues to drift below $60,000 as Biden tees up his pick for Federal Reserve chair. Technician’s take: Momentum is still positive on a weekly basis, which is consistent with a bullish uptrend. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC): $59,172 -0.8% Ether (ETH): $4,327 -1.81% Market moves Bitcoin continued to drift below $60,000, as cryptocurrency analysts looked ahead to a week of possible, reduced trading activity resulting from…

BTC, AVAX, MATIC, EGLD, MANA

Bitcoin (BTC) is witnessing a tough tussle near the $58,000 mark but that has not stopped select altcoins from hitting a new all-time high. This shows that traders are watching the fundamental developments on individual coins. One of the recent top performing major altcoins has been Avalanche (AVAX), which has soared more than 120% in November. The coin caught traders’ attention leading up to the announcement by accounting firm Deloitte which plans to build its disaster relief platforms on the Avalanche blockchain. Crypto market data daily view. Source: Coin360 In…

Nike wants to bring sneakerheads into the Metaverse

Look at your feet. A lot of you (raises hand) are wearing Nikes right now. For the fiscal year ending May 31, 2021, Nike reported its revenue was up 19% to $44.5 billion for the year. But that’s here. What about in the Metaverse? Why Nike is interested in the Metaverse For those as of yet unfamiliar with the concept, the easiest — yet very incomplete — way of imagining the Metaverse is imagining yourself existing in a real-life video game. Nike enters and provides very cool meta-stuff. This is no…

Leverage Demand, Not Leverage Itself, Down in Bitcoin

Bananarama may have sung about a cruel summer, but November is turning out to be no great shakes for cryptocurrency investors, either. There are just six weeks left in 2021 and the CoinDesk Bitcoin Price Index (XBX) dipped nearly 20% off an all-time high set Nov. 10. Yet there’s something interesting in one thing going in the markets right now: leverage. Or, rather, the recent drop-off in demand for it. You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up…

What is Mimblewimble and how does it work?

What is Mimblewimble?  Mimblewimble is a privacy-oriented decentralized protocol that uses a novel way of structuring and storing transactions on the blockchain. It was designed and introduced by an anonymous developer who went by the name Tom Elvis Jedusor, who was a French counterpart for “Voldemort” in mid-2016. How does Mimblewimble work? Taking its name from the Harry Potter books series’ well-known tongue tying spell that ties the victim’s tongue to prevent it from revealing specific information, Mimblewimble protocol literally works like a spell. It provides a framework for a…

Bitcoin avoids recent lows as BTC price eyes $60K into the weekly close

Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC challenges $60,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening. The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved. Adopting a calmer perspective into the weekly close, analysts…

How liquid staking disrupts parachain auctions on Polkadot

A crowd loan is a Polkadot (DOT) crowdsourcing event in Polkadot that allows the community to support project bids in upcoming parachain slot auctions. Users contribute DOT, receive rewards in project tokens and get their DOT back in two years (a standard slot lease duration). This mechanic helps projects raise substantial capital in DOT tokens that may even exceed a few hundred million in dollar notion value. The obvious downside for users is the need to lock their DOT for two years where they don’t have access to their liquidity…

Avalanche pushes out Dogecoin from top-10 after AVAX price soars 100% in November

Avalanche (AVAX) is now the tenth-largest cryptocurrency by market capitalization after more than doubling in price since the start of November. AVAX entered the top-10 crypto index after pushing out Dogecoin (DOGE). In doing so, its circulating market valuation reached $30.60 billion for the first time compared to Dogecoin’s $30.30 billion. AVAX circulating market cap. Source: CoinMarketCap AVAX price hits another record high AVAX price climbed while ignoring price corrections elsewhere in the crypto market after Nov. 10. Notably, Bitcoin (BTC) plunged by nearly 20% from its record high of…

El Salvador Is Building a City Dedicated to Bitcoin

Share this article President Nayib Bukele announced that El Salvador would build ”Bitcoin City” at Bitcoin Week 2021 last night.  El Salvador Plans Bitcoin City  El Salvador is doubling down on its commitment to Bitcoin.  President Nayib Bukele announced that the Central American country, which introduced Bitcoin as legal tender in September, will be building a city dedicated to Bitcoin in a presentation at Bitcoin Week 2021 last night. El Salvador’s presidential office also tweeted the news following the announcement.  “Pensé que teníamos que dar un anuncio grande en esta…

6 Questions for Han Kao of Sanctor Capital – Cointelegraph Magazine

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week, our 6 Questions go to Han Kao, founder of thesis-driven investment fund Sanctor Capital and co-founder of crypto research company Crypto Briefing. Han grew up in New York City and studied economics at Columbia University. He started as a software developer but soon realized he wanted to be an entrepreneur. Over the years, Han has founded several…