The Crypto Fear and Greed Index has dipped to levels not seen since April 2020, indicating that traders are nervous about Tesla backtracking on accepting Bitcoin (BTC) payments, Bitcoin's multi-week technical weakness and U.S. regulator's supposed investigation into the business operations of Binance exchange. This nervousness also led to a massive inflow of 30,000 Bitcoin to the exchanges, the highest number since the March 2020 crash. This suggests some traders are booking profits on their long positions. CryptoQuant CEO Ki Young Ju said that whales have continued to send more coins to exchanges than usual, implying that near-term bearishness may …

Tesla CEO Elon Musk tweeted on May 13 that the company will stop accepting Bitcoin (BTC) payments for its vehicle purchases, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.” Shortly after the announcement, Bitcoin price dropped by 17% to hit a new local low at $46,000. While Musk’s decision is a short-term blow to the sentiment of the market, it is unlikely to change the course of the crypto markets altogether because the institutional demand for cryptocurrencies remains high. Proof of this came yesterday as Cowen Inc., a 103-year-old bank, announced that it had …

Uniswap’s native UNI token can greatly enhance its utility by becoming a pricing oracle for stablecoins, according to Ethereum co-founder Vitalik Buterin. In a proposal submitted to Uniswap’s governance platform, Buterin said that a successful decentralized finance, or DeFi, ecosystem relies on a “highly secure pricing oracle,” noting that algorithmic stablecoins, synthetic assets and collateralized loans all depend on oracles. The problem, however, is that Uniswap currently doesn’t provide an oracle for the price of ERC-20 tokens in the truest sense. “This is a problem,” Buterin explained, adding that “Algorithmic stablecoins need an oracle for the price of ETH/USD to …

Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row. The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from Crypto Fees, a website that compares the daily fees generated by the top blockchain networks. Uniswap has fully flipped #Bitcoin in fees Wouldn't surprise me if market caps were 1) $ETH 2) $UNI 3) $BTC in the future. pic.twitter.com/iNUe7Jmw9c — Evan Van Ness (@evan_van_ness) May 11, 2021 Uniswap founder Hayden Adams was quick to post about the mileston: “Uniswap v2 LP fees finally passed Bitcoin network fees on the …

Centralized exchanges play an important role in the cryptocurrency industry. While their decentralized exchange counterparts have been growing in popularity and usage since 2020, the overwhelming majority of crypto trading volume is still concentrated on centralized exchanges. The supremacy of CEXs can be clearly observed in the size and popularity of trading platforms like Binance and Coinbase, which are now so recognizable and mainstream that Coinbase has recently become the first crypto company to be listed on the Nasdaq stock exchange. Acting as a necessary bridge between fiat and crypto, centralized exchanges provide unparalleled convenience. Nevertheless, industry leaders often see …

As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis. One of the top DEX aggregators that has recently seen its price reach a new record high is 1INCH, a protocol that offers “access to the most liquidity, lowest slippage and best exchange rates across Ethereum and Binance Smart Chain” according to the projet’s website. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a …

Goldman Sachs has started offering its clients access to Bitcoin (BTC) trading through non-deliverable forwards, according to Bloomberg Law. Max Minton, Goldman's Asia-Pacific head of digital assets, said that “institutional demand continues to grow significantly in this space.” Even Citigroup plans to introduce crypto-related services due to the increasing demand from asset managers and hedge funds. Although inquiries about Bitcoin surged in August 2020, the investment bank has been slow to jump into the crypto market. Citigroup’s global head of foreign exchange, Itay Tuchman told the Financial Times that “crypto is here to stay and that we are just at …

The founder of Uniswap, Hayden Adams, has reported that the launch day of Uniswap’s v3 iteration was more successful than its predecessor, in terms of volume. In a tweet on May 6, Adams declared the previous day's launch of Uniswap v3 a resounding success. He noted that over its first 24 hours of going live, v3 had already processed more than twice the volume that v2 saw in its first month. Dividing Uniswap’s volume by total value locked, or TVL, Adams asserted that the platform is operating with greater efficiency than its v2 form. While v2 saw $1.1 billion in …

IDEX, a San Francisco-based decentralized exchange, has unveiled new protocol upgrades designed to solve two of the biggest issues with decentralized finance, or DeFi — slippage and front-running. The exchange claims that its Hybrid Liquidity protocol solves these challenges by combining an order book and trading engine with the liquidity pools of an automated market maker, or AMM. “The novel exchange design protects users from the most glaring pitfalls of AMMs, including failed trades and front-running, by instantly executing trades against the best combination of limit orders and pooled liquidity,” the company said, adding: “This approach generates higher returns for …

Lots of cons, no artistry It’s grifter season: Scams and opportunists run amok, and it’s harder than ever to tell who to trust. Case and point: Over the weekend, an influencer by the pseudonym Crypto Spider was found to have pumped and dumped a meme coin, SELON — while publicly claiming that he had joined his followers in taking a loss. step 1: @linkpadvc make a Doge fork called Shibe-Elon step 2: give themselves a ton of it step 3: burn 1 of their top address to induce FOMO step 4: rug I knew it from instinct, but thanks for …

Dogecoin (DOGE) skyrocketed above $0.69 today and flipped XRP to become the fourth largest cryptocurrency with a market capitalization of over $88 billion at its highest point. Galaxy Digital recently released a report titled “Dogecoin: The Most Honest Sh*tcoin,” and the document highlighted the fact that no updates have been logged in Dogecoin’s GitHub repository since 2017. Even the blockchain’s network security is suboptimal with only 26% of the overall node count running fully synced notes, the report added. There seems to be a massive mismatch between Dogecoin’s fundamentals and its valuation. The meme coin’s rally is an indication that …

A high-frequency trading company has launched liquidity mining for holders of its native token. The new service is hosted on Uniswap, meaning users can still take advantage of the familiar, simple interface that this decentralized exchange provides. Black Ocean’s CEO, Andrei Grachev, says this feature gives users a chance to provide liquidity to decentralized markets — unlocking a wealth of new opportunities. Co-founder Vladimir Demin added: “Liquidity mining for FLy is a very important step on the development roadmap. As the FLy ecosystem is growing, we wish to give more benefits for early contributors. We also believe that taking a …