Coin360 news

[kidis]

Fall from Grace

The broader focus remains on the never-ending trade talks between the US and China, with analysts from Goldman Sachs noting over the weekend that fears of the US-China trade war leading to a recession are increasing and that the firm no longer expects a trade deal between the world’s two largest economies before the 2020 US presidential election. The widespread media coverage and the perceived implications of capital flows has prompted a number of crypto market commentators to speculate the advent of another squeeze higher in prices. However, perhaps overwhelmed by all the media noise, a majority of traders are overlooking the recent developments in the Decentralised Finance (DeFi) market. Specially, the dramatic collapse in the amount of USD locked in Maker, which has now fallen to below $300mln. The total amount of ETH locked in the credit ecosystem now stands at 1.25% while the number had been 2.11% earlier in the year.

Read the full article: https://coin360.com/blog/fall-from-grace

[kidis]

Field of Dreams

The market took a real beating last week, with DeFi outflows accelerating and the contango delta narrowing sharply for Bitcoin and Ethereum. The amount of ETH locked in the Maker DAO credit ecosystem has stabilized around 1.3% but the pressure on ETH was such that the so-called “bite” function on the Maker ecosystem, where users liquidate vulnerable CDPs, reached a 3-month high on Friday. However, since then the market has rallied, as short positions have gotten squeezed following the big announcement that the much-awaited platform by Bakkt was finally given the green light by regulators. The long-awaited Bitcoin futures and warehouse products for institutional clients will be launched on September 23. However, some of their largest prospective clients still don’t have permission to trade physically-delivered futures contracts.

Read the full article: https://coin360.com/blog/field-of-dreams

[kidis]

Tick Tock




The crypto world never ceases to amaze and in a sudden plot twist, iFinex, the parent company of stablecoin issuer Tether and cryptocurrency exchange Bitfinex, has “won” an appeal against the New York State Attorney General (NYAG). The appellate division of the state’s Supreme Court granted iFinex’s request to stay a previous court order requiring the company to turn over documents to the Attorney General’s office. This announcement, which has been celebrated as a win by the group, should be taken with a grain of salt because iFinex has until November 4 to “perfect its appeal” according to a court document, or else the company may be required to continue to comply with the investigation. If the case is allowed to proceed actual arguments won’t likely begin until 2020.


Read the full article: https://coin360.com/blog/tick-tock

[HarHarHar9965]

Source : coin360 news

the leading cryptocurrency, Bitcoin (BTC), is trading sideways, up by 1.18% over the last 24 hours to trade at around $7,970 at press time. Bitcoin has seen low volatility during the day, having dropped to as low as $7,752, while the intraday high reached $8,198.

At the beginning of the day, Bitcoin dipped below $7,800 after the coin touched its four-month lows on Sept. 24, when it crashed $1,500 in 24 hours. The major coin has since been hovering around the $8,000 price mark.

[kidis]

He Who Laughs Last




The attempted recovery by the market following last week’s dramatic collapse has been rather uneven and choppy, even the planned upgrades to the Ethereum network have failed to act as a catalyst for the next move. As pointed out last week, it is Golden Week holiday in China and trading volumes are likely to be impacted as a result. Looking at the DeFi market, the amount of BTC locked continues to decline (90-day low), while all the same, ETH locked in DeFi is close to a 90-day high and not far from an all-time high. Maker dominance is just over 50%, and 1.41% of total ETH supply is locked in MakerDAO smart contracts.

Read the full article: https://coin360.com/blog/he-who-laughs-last