Bitcoin (BTC) continues to lead the popularity contest among the top cryptocurrencies — but it has fewer addresses with actual coins in them than Ethereum. According to data from on-chain market analyst Glassnode, Bitcoin has almost three times as many daily active addresses as Ethereum (ETH), 11 times more than Litecoin (LTC) and 140 times more than Ripple (XRP). Source: Glassnode Bitcoin is growing faster than others The number of new Bitcoin addresses being created each day is almost five times that of Ethereum. New Bitcoin addresses reached almost 470K in 24 hours, the day after the Bitcoin halving, in …

While retail traders fret over whether Bitcoin (BTC) will break above $10,000 or not, the institutional players silently continue to build positions. On May 19 major digital asset management fund Grayscale tweeted that its assets under management had increased over 80% from $2.1 billion to $3.8 billion over the period of one year. This suggests that institutional money is gradually flowing into cryptocurrencies. The majority of the investment was done in Bitcoin, the top-ranked cryptocurrency on CoinMarketCap. Usually, institutional investors take a long-term view and are not perturbed by the short-term swings. Daily cryptocurrency market performance. Source: Coin360 Similarly, the …

On Tuesday, the Atari Group announced a partnership with the Litecoin Foundation, betting on the overlap of interests between the crypto and gaming communities. Atari has raised 74.19 Bitcoin (BTC), worth roughly $514,000, over the course of the presale stage of its initial coin offering up to now. The funds came mostly from partners. Not only will Atari accept investments in Litecoin (LTC), Bitcoin and Ether (ETH), but gamers will be able to pay for its upcoming Video Computer System, or VCS, with Litecoin and receive a discount. It will be available at the foundation’s online store. The overlap between …

Several economies around the globe are lifting lockdown restrictions that have been in place for the past few weeks. This will enable businesses to gradually get back on track and investors are also closely watching the various coronavirus vaccines that are in developmental stages. Any positive news on this front is likely to boost sentiment. As the globe is flush with liquidity, any improvement in sentiment could drive traders into risky assets in order to generate strong returns to make up for this year’s losses. Bitcoin (BTC) has done exceedingly well during the crisis, which is likely to attract the …

A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could be giving a signal that this time is different. This week CME Bitcoin options open interest increased to about $142 million, an increase of over 1000% since the end of April, according to data from Skew. This shows that the …

History suggests that Bitcoin (BTC) halvings have led to massive bull runs. After the first halving in November 2012, the top-ranked cryptocurrency on CoinMarketCap surged 10,000% from late 2012 to 2014. The second halving that took place in July 2016 produced a rally of about 2,500% from mid-2016 to Dec. 2017. On May 11, Bitcoin completed its third halving and the expectations are for another huge up move. Other than history, current fundamental factors are setting the stage for a huge rally in Bitcoin’s future. The world is currently in the midst of a financial crisis due to the coronavirus …

The Litecoin Foundation announced that it will migrate from the multi-sig Electrum-LTC wallet to BitGo’s multi-sig wallet. According to a May 7 post on the company’s website, the move is due to BitGo’s wallet providing “greater convenience and nearly the same level of security.” The old Electrum-LTC addresses will be available online for one month, with the new BitGo wallets addressed to be published soon. The price of Litecoin (LTC) rose 5% following the announcement, but experienced a similar downturn as Bitcoin (BTC) during the halving dump on May 9. Starting Mimblewimble testing Litecoin recently posted a progress update on …

Billionaire hedge fund manager Paul Tudor Jones has added Bitcoin (BTC) to his portfolio. In a letter to his clients, Jones said that the top-ranked cryptocurrency on CoinMarketCap was likely to play a similar role to the one that was played by gold in the 1970s. Jones added that Bitcoin was the fastest horse, hence, he was placing a bet on it. This move could attract other hedge fund managers to cryptocurrencies as they look to hedge their portfolios against the incessant money printing by the Federal Reserve. Bitcoin’s recent rally above $10,000 is a major sentiment booster. The dominance …

Pantera Capital Founder and CEO Dan Morehead is bullish on Bitcoin (BTC) due to the upcoming halving as he believes that “if the new supply of Bitcoin is cut in half, all else being equal, the price should rise”. If history were to repeat itself, Morehead expects the top-ranked cryptocurrency on CoinMarketCap to rally to $115,212 by August 2021. The CEO also said that gold might be losing its luster but he does not expect the yellow metal to vanish overnight. Bloomberg’s senior commodity strategist Mike McGlone said that in traditional commodity markets, higher prices are an incentive for the …

Jefferies Greed & Fear email written by Christopher Wood recommends both retail and institutional investors buy Bitcoin (BTC) ahead of the upcoming halving which is less than eight days away. They anticipate that a rally after the event will be similar to the previous two halvings. Jefferies recommends that investors use Bitcoin to diversify their portfolio, similar to gold. However, forecasting a rally post halving just because the top-ranked cryptocurrency on CoinMarketCap has done so previously might not play out as expected. During the previous two halvings, the main participants were early crypto adopters but that is not the case …

The lead developer on the Litecoin Mimblewimble (MW) project, David Burkett, has now built a functional testing framework and started to integrate the development work done so far into the Litecoin codebase. According to a May 1 report on the Litecointalk forums, the project to implement the MW privacy enhancements into Litecoin has reached an important milestone with the build of a test-bed. Burkett claims that he has also run some end-to-end validation tests through the framework. “I’ve built out a functional testing framework that builds valid headers, blocks, and transactions. I’ve now got some (mostly) complete end-to-end block validation …

The total crypto market capitalization has jumped from about $198 billion on April 22 to over $263 billion on April 30. This 32% rally in roughly eight days shows that investor sentiment is bullish. While this is a positive sign, the problem is that most people expect a repeat of the previous bull run. But with coronavirus still not reigned in, investors are likely to sway between extreme optimism and pessimism. Therefore, any up move is likely to have its share of sharp pullbacks. Crypto pioneer Charlie Shrem painted a bullish picture for Bitcoin (BTC) due to the upcoming halving …