Bitcoin (BTC) has covered a considerable amount of ground over the past few years. Initially considered as an asset mostly used for unlawful activities, it has finally received the approval of the Office of the Comptroller of the Currency. This means banks in the U.S. will now be able to provide crypto custody services to their clients. This move could further encourage institutional investors to enter the crypto space because they are likely to trust their banks more than the other custody services on offer. However, funds are unlikely to start flowing immediately as institutions are known to tread cautiously. …

Since March central banks have been printing money aggressively in order to combat the economic downturn brought about by the coronavirus pandemic. Philip Lowe, the governor of the Australian Reserve Bank, has warned against the consequences of unlimited monetary expansion. Lowe said that “there is no free lunch,” and somebody always has to pay for the money printing “in one form or the other.” The European Union has also agreed on a massive recovery fund of about $857 billion to buoy the social and economic crisis caused due to the coronavirus pandemic. In response, gold again broke out to a …

Crypto fund manager Grayscale Investments will make Bitcoin Cash and Litecoin available for public trading through shares of the firm’s cryptocurrency trusts. In the July 20 announcement, Grayscale said the Financial Industry Regulatory Authority (FINRA) in the United States had verified shares of the firm’s Bitcoin Cash Trust and Litecoin Trust were ready to begin being quoted in OTC markets. The two stocks will soon be available for public trading under the symbols BCHG and LTCN. Public trading for the two digital assets remains subject to full compatibility with the Depository Trust Company (DTC), the world’s largest securities depository. “There …

Gold continues to trade near its nine-year highs as investors hedge their portfolio against a possible devaluation of the U.S. dollar due to the expansive monetary policy of the Federal Reserve. Bitcoin (BTC), which has long been forecast as digital gold, is not finding favor among investors as it remains highly correlated with the U.S. equity markets. However, Binance CEO Changpeng Zhao believes that over the long-term, the top-ranked asset on CoinMarketCap will again start behaving as a safe haven asset. Daily cryptocurrency market performance. Source: Coin360 One possible reason for investors’ aversion to Bitcoin as a safe haven could …

Grayscale Investments recent Q2 report shows that the firm took in $905 million into Bitcoin (BTC) and other altcoins. In Q1 of this year, the inflow into various Grayscale products was $503.7 million. The sharp increase in investments indicates that the institutional investors are building positions when the price of the top-ranked asset on CoinMarketCap is stuck in a range as they expect it to rise in the future. Daily cryptocurrency market performance. Source: Coin360 However, in the short-term, the U.S. Federal Reserve’s policy actions might dictate the next directional move. Although the economy is showing signs of recovery, several …

The People’s Bank of China (PBoC) is rumored to be working with food delivery giant Meituan Dianping and ride-hailing application DiDi to test the digital yuan. Currently, Meituan Dianping is estimated to have more than 435 million users. Video streaming platform, Bilibili, could also be the next to join the project. Although the PBoC has not committed to a specific launch date, the coronavirus pandemic seems to have accelerated the project. Following China’s progress on the central bank digital currency, Japan has also expedited its efforts to launch a digital yen. The Japanese government could add the development of the …

The Nasdaq has regularly been making new highs for the past few days, which has resulted in a strong rally in a few technology companies. Along with this, a few stocks in the S&P 500 are also on a tear, pushing their valuations to astronomical levels. While the U.S. equity markets are on a strong footing, gold is not to be left behind. It has also risen to a nine-year high, which shows that assets that are perceived as risky and safe havens, both are rallying at the same time. Ultimately, this proves that an abundant money supply is finding …

Veteran trader Peter Brandt believes that a new altcoin season is likely to start in the near future and he predicted that altcoins are likely to outperform Bitcoin (BTC) during this next run. In the short-term, altcoins could embark on a rally without the support of Bitcoin but in the long-term it is unlikely that altcoins will rally if Bitcoin struggles to move up. On July 9, the S&P 500 corrected and that resulted in a drop in Bitcoin, which shows that the correlation between the two remains intact. As Bitcoin broke below $9,200 level, it attracted profit booking from …

Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes. The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC miner donations to help boost development funding. Uncertainties regarding Litecoin's future have caused investors to lose interest in the project and this is reflected both on-chain and in LTC’s …

Altcoins have been buzzing around this week and this has reduced Bitcoin’s (BTC) dominance to 63%. Pantera Capital founder Dan Morehead believes that altcoins are going to outperform Bitcoin, the top-ranked asset on CoinMarketCap, over the next couple of years. This does not mean that Morehead is negative on Bitcoin price because he clarified that the firm expects Bitcoin to “to go up a ton, but altcoins will go up even more.” However, investors should be careful about what they invest because pump and dump schemes and liquidity issues continue to plague many altcoins. Take for example, the recent TikTok …

Cardano’s ADA recently overtook Litecoin (LTC) in market capitalization. Now it may have passed Bitcoin Satoshi Vision (BSV) as well, depending on how the metric is calculated. BCH, BSV, ADA & LTC. Source: CoinMarketCap. How many ADAs out there? At the time of this writing, CoinMarketCap, or CMC, shows ADA in seventh spot, while Nomics has it at sixth —- just ahead of BSV. The controversy stems from the circulating supply —- CMC reports 25,927,070,538, while Nomics has the figure at 31,112,484,646. This represents a five billion ADA discrepancy. Blockchair, a blockchain search and analytics engine, agrees with Nomics. Nomics …

Cardano founder Charles Hoskinson recently said that he would not mind working with Litecoin founder, Charlie Lee, to test cross chain communication. "It would be great to do something together," Hoskinson said in a July 7 tweet to Lee. Both men founded industry giants Hoskinson founded Cardano (ADA), which, at press time, sits seventh on the list of crypto assets in market cap size, according to CoinMarketCap. Litecoin maintains the eighth spot. Both figure heads hold notable status in the crypto and blockchain space. "I love the idea of testing cross chain communication between Litecoin and Cardano. We got a …