Filecoin (FIL) accumulated 65% gains over the past 30 days to reach its highest price since June 8. The recent strength was accelerated after an Aug.6 partnership with Chainlink's oracle protocol on Aug. 6 allowed the projects to join their grant initiatives to speed up the development of hybrid smart contracts to leverage code running on the blockchain while the managing data computation process off-chain. Numerous events triggered the $235 all-time-high on April 1, but that movement is clearly long gone because the cryptocurrency is 67% below that level. Let's take a moment to understand what triggered the rally and …

The price of Bitcoin (BTC) is back at the $50,000 level, and there's little doubt that the 47% positive rally over the past 30 days has been fueled by whale accumulation, institutional adoption and positive remarks from regulators regarding a possible exchange-traded fund (EFT) approval. Despite the positive newsflow, the top traders at crypto exchanges and derivatives data appear unmoved by the recent rally to the $50,000 resistance. Crypto analyst Will Clemente highlighted the accumulation from addresses containing 1,000 to 10,000 BTC. Price down today while whale holdings went up by ~13,000 BTC. Funny how that works. pic.twitter.com/a6tb2DiqxH — Will …

Dawn Stump, one of four commissioners currently serving at the Commodity Futures Trading Commission, or CFTC, has released a statement clarifying the agency's authority with respect to digital assets. In a Monday statement, Stump said the CFTC is empowered with both regulatory and enforcement authority for commodities. She did not specifically say that digital assets were cash-like commodities in the eyes of the regulatory body, but “even if a digital asset is a commodity, it is not regulated by the CFTC.” According to the commissioner, however, the agency is within its power to regulate derivatives on digital assets, “such as …

EOS rallied in May after Block.one, a blockchain software firm, announced a $10-billion funding round to build an EOS-based crypto exchange platform called Bullish. The EOSIO development company revealed that it had raised capital from Peter Thiel and Mike Novogratz, as well as hedge fund managers Alan Howard and Louis Bacon. In light of the “bullish” news, the recent $6 local top stands 60% below the $15 high reached on May 12, and this leaves investors with little reason to celebrate. At the moment, retail traders are not comfortable using leverage for bullish positions, and professional traders have been neutral-to-optimistic …

Binance Coin (BNB) rallied 30% in two weeks, but the fourth-largest cryptocurrency by market capitalization seems to be struggling to break the $450 resistance. Coincidently, this is the same top from June 3, which was followed by a 48% correction down to $225. Given the similarity of the situation when compared with previous instances, investors have reasons to doubt the recent performance, especially as Solana (SOL), a competing smart contract platform, reached an all-time high on Aug. 18. The move was partially attributed to a recent $70-million crowdfund to support Solana's decentralized exchange (DEX), Mango Markets, and the launch of …

Over the past seven days, Bitcoin (BTC) has failed to break through the $48,000 resistance, but its price has remained flat even as Minneapolis Federal Reserve Chairman Neel Kashkari bashed the industry. During an appearance at the Pacific NorthWest Economic Region Annual Summit on Aug. 17, Kashkari said: “So far, what I’ve seen is […] 95% fraud, hype, noise and confusion.” Moreover, Kashkari specifically targeted Bitcoin when he mentioned that its only use case has been funding illicit activities. Even with the current pullback, Bitcoin investors should be glad that the $44,000 support held because the Federal Reserve also signaled …

Fidelity’s plan to corner the cryptocurrency market appears to be more ambitious than previously imagined, as the asset manager looks to provide more institutional pathways to digital assets. In a recent interview with the Boston Globe, Christine Sandler, head of sales and marketing for Fidelity Digital Assets, said that institutional interest in crypto is growing. For most investors, the primary entry into crypto has been Bitcoin (BTC) and, to a lesser extent, Ether (ETH). Tom Jessop, who heads Fidelity Digital Assets, said the pandemic was a major motivator for investors to finally get into crypto: “What really got people off …

The cryptocurrency market has successfully rebounded from the two-month slump it had gone into from late May to the end of July. Bitcoin (BTC) and Ethereum (ETH) have been leading the charge, posting impressive gains over the last two weeks. The market is seeing price levels that it had reached back in May of this year. Along with the price gains, the cryptocurrency derivatives market that includes financial instruments like futures, options and even micro futures are also seeing rejuvenated interest from investors. According to data from Bybt, The open interest (OI) in Bitcoin options across all the global exchanges …

Being bullish on Ether (ETH) has paid off recently because the token gained 60% in the last 30 days. The spectacular growth of decentralized finance (DeFi) applications likely fueled inflow from institutional investors, and the recent London hard fork implemented a fee burn mechanism that drastically reduced the daily net issuance. Although Ether is not yet a fully deflationary asset, the upgrade paved the way for Ethereum 2.0 (Eth2), and the network is expected to abandon traditional mining and enter the proof-of-stake consensus soon. Ether will then be slightly deflationary as long as fees remain above a certain threshold and …

Ether’s (ETH) 81% rally over the last three weeks has caught professional traders off-guard, and this week’s upcoming options expiry reveals that of the $430 million in contracts set to expire, only 7% of the neutral-to-bearish put options will be available if Ether holds above $3,200 on Friday. Curiously, the crypto market is holding its recent strength despite the United States Senate’s “crypto-critical” infrastructure deal that recently passed. Although the $1-trillion infrastructure bill may encounter some lengthy hangups in the House of Representatives, the approved version did not clarify what constitutes a cryptocurrency broker, which is expected to harm the …

On Friday, Aug. 13, a total of $675 million worth of Bitcoin (BTC) options are set to expire, and currently the bulls enjoy a significant advantage after a 20% weekly rally to $46,743. As Cointelegraph previously reported, two things that marked the positive shift seen from institutional investors were that deposits to derivatives exchanges reached their lowest levels since May 11 and that entities with 10,000 to 100,000 BTC added over $12 billion additional Bitcoin to their holdings. Meanwhile, cryptocurrency adoption continues to rise as the Paypal-owned payments firm Venmo has expanded its support by allowing credit card holders to …

New York-based investment management firm Neuberger Berman has filed for a commodity-focused fund to be able to gain indirect exposure to crypto investments. In a filing with the United States Securities and Exchange Commission (SEC) today, the investment firm said its Commodity Strategy Fund would allow investors to have indirect exposure to cryptocurrencies and digital assets through Bitcoin (BTC) and Ether (ETH) futures, as well as Bitcoin trusts and exchange-traded funds, or ETFs. According to the filing, the fund plans to gain exposure to crypto through a subsidiary. Neuberger Berman reported the fund had more than $164 million in assets …