Bitcoin Futures Open Interest Hits $19 Billion, Harsh Intraday Swings, Analyst Says ‘Fresh Rally’ Expected

The start of the week saw digital currency markets drop significantly in value, as billions of dollars were shaved off the entire crypto economy’s capitalization. A weekly report from Luno and Arcane Research shows February 23 captured the third-largest bitcoin daily trade volume in crypto history, as spot market volume saw $18 billion change hands. Moreover, crypto derivatives are surging as bitcoin futures open interest commandeered $19.1 billion on Tuesday. Volatile Bitcoin Price Fluctuations Sees Intraday Swings Close to 20% for Two Days In a Row After bitcoin (BTC) touched…

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Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor

Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin have no intrinsic value – put simply, a measure of what an asset is actually worth. ● Speaking in the National Assembly on Feb. 23, Lee forecast that bitcoin (BTC) will see increased price swings going forward, the local news agency Yonhap reported. ● “It is very difficult to predict the price, but its price will be extremely volatile,” said the bank chief in response to a question from a lawmaker who wanted to know whether bitcoin’s…

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US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

A Manhattan federal judge has dismissed a securities fraud class action against Bancor after ruling that the plaintiff’s allegations were not enough to give the court jurisdiction. According to a report, the dismissal of the case against represents the first such ruling “in a suite of similar cases filed by crypto investors represented by Selendy & Gay and Roche Cyrulnik.” US Courts Have no Jurisdiction In their motion against Bancor, which has offices in Switzerland and Israel, the plaintiffs led by Timothy Holsworth, had argued that the protocol’s “BNT token…

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Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

PRESS RELEASE. Hathor Network ($HTR, live on KuCoin) has just released exciting news: The detailed 2021 Roadmap. Community projects are a priority and growing, especially with Hathor CEO Yan Martins having recently emphasized the relevance of Asian business development, with strong focus on Southeast Asia, China and Japan. Hathor has proven to be a very supportive platform, having brought forward announcements about kickstarting a grants program for developing use cases. Currently, focus has been on HathorSWAP and other tokens that get easily built on HTR wallet platform, also incentivizing users…

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Bitcoin Dump Saw Exchange Inflow Jump Over 1,000%, Whale Address Sells 2,700 Coins, F2pool Hawks 3,633 BTC

On Sunday, February 21, the price of bitcoin touched a new all-time high (ATH) at $58,354 and at the time, inflow into exchanges spiked as well. According to data from the onchain analysis firm, Santiment, stats indicate that exchange inflow jumped 11x on Sunday and data also shows one whale address was responsible for the second-largest bitcoin transaction in 2021. Second-Largest Bitcoin Transaction and 11x the Exchange Flow Shakes the Crypto Market Bitcoin prices jumping to new heights has sparked a lot of crypto market movement in recent months and…

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Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds 5% of Total Cash Reserves in BTC

Square has bought more bitcoin, adding $170 million worth of the cryptocurrency to its balance sheet. The company now holds 5% of its cash reserves in bitcoin. Its Cash App was used by more than three million customers to purchase or sell the cryptocurrency last year. $170 Million Bitcoin Purchase Square Inc. (NYSE: SQ) announced Tuesday its fourth quarter and full year 2020 results. The company also announced that it has purchased $170 million worth of bitcoin “as part of its ongoing commitment to the cryptocurrency.” This is the company’s…

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The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’

Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a “very high priority project” for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar. The Fed Is Looking Carefully at a Digital Dollar Fed Chair Jerome Powell testified on Capitol Hill before the Senate Banking Committee Tuesday, the first of two days of congressional testimony. He is speaking before the House Financial Services Committee on Wednesday. Senator Bill Hagerty…

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Microstrategy Buys $1 Billion More Bitcoin — Company Now Holds Over 90,000 BTC

Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.” More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees…

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xSigma Passes Security Audit and Prepares to Launch Stablecoin DEX With LP Rewards

PRESS RELEASE. February 24, 2021 – xSigma, a decentralized exchange for stablecoin swaps, has announced details of its launch program. The DEX, which supports liquid swaps between stablecoin pairs, will go live on February 24, having passed a third-party security audit. Blockchain security company Hacken audited the xSigma smart contracts and found no critical errors in the code, green-lighting the Ethereum-based exchange to launch as scheduled. A second security audit is underway to give the xSigma community additional confidence in the code powering the AMM. Backed by a NASDAQ-listed company,…

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India’s Warren Buffett Wants Regulators to Ban Bitcoin and Focus on Digital Rupee

Indian billionaire Rakesh Jhunjhunwala, sometimes referred to as the Warren Buffett of India, says that the government should ban bitcoin. Calling the cryptocurrency “speculation of the highest order,” the billionaire investor stated that he will never buy bitcoin. Billionaire Rakesh Jhunjhunwala Thinks Indian Government Should Ban Bitcoin Rakesh Jhunjhunwala believes that the Indian government should step in and ban bitcoin, CNBC reported Tuesday. Jhunjhunwala, who currently manages his own investment portfolio as a partner at asset management firm Rare Enterprises, is sometimes known as the “Warren Buffett of India” and…

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