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XRP, Cardano, AAVE Price Analysis: 14 June

The last 12 hours have been favorable for all coins in the market. Even the total market capitalization was up by 8% at press time. Cardano was also boosted by the news of smart contracts now running

The post XRP, Cardano, AAVE Price Analysis: 14 June appeared first on AMBCrypto.

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Bitcoin price may have pumped 10% to $41,000 but derivatives indicators show top traders aren’t feeling so bullish.

Sometimes all Bitcoin (BTC) needs to pump 10% is a positive remark from someone like Elon Musk.

The Tesla CEO has been pointed to as the culprit for the recent downturn after the company’s May 12 announcement explaining that it would no longer accept Bitcoin payments due to environmental concerns. Musk followed up by saying that he was looking into other cryptocurrencies that required 99% less energy consumption. 

However, on June 13, the situation reversed as Musk reassured the public that Tesla did not sell any additional Bitcoin. The post also said that the electric-car producer would resume taking BTC payments as soon as its Bitcoin mining relied on a minimum of 50% clean energy.

In bear markets, top traders act with caution

While retail investors and algorithmic trading bots jump into action as soon as bullish or bearish signals and news flash, top traders tend to act more with more caution. Those who have been around the crypto markets long enough know that positive news might end up being ignored or severely downplayed in bear markets.

On the other hand, even potentially negative news seems to have little to no impact during bull runs. For example, on Sept. 26, 2020, Kucoin was hacked for $150 million. The following week, on Oct. 1, the United States Commodity Futures Trading Commission charged BitMEX for operating an unregistered trading platform and violating Anti-Money Laundering regulations.

Two weeks later, police reportedly questioned the founder of OKEx, forcing the exchange to suspend crypto withdrawals. Had this series of negative news happened while Bitcoin was flat or in a bearish phase, the price would have undoubtedly have stalled during a bear market.

Bitcoin price at Coinbase in USD, Sept. 2020. Source: TradingView

As shown above, Bitcoin barely had any negative impact in late September and October 2020. In fact, by the end of November 2020, Bitcoin was up 74% in two months. This is the main reason why top traders tend to ignore positive news during bear markets and vice-versa.

The 3-month futures premium is neutral

A futures contract seller will usually demand a price premium to regular spot exchanges. This situation is not exclusive to crypto markets and happens in every derivatives market because in addition to the exchange liquidity risk, the seller is postponing settlement and this results in a higher price.

The 3-month futures premium (basis rate) usually trades at a 5% to 15% annualized premium in healthy markets. When futures are trading below the regular spot exchange price, it signals a short-term bearish sentiment.

Huobi 3-month Bitcoin futures basis. Source: Skew

As shown above, the future basis has been below 11% since May 20 and flirting with bearish territory on multiple occasions as it tested 5%. The current level indicates a neutral position from top traders.

The options skew is no longer signaling fear

The 25% delta skew compares similar call (buy) and put (sell) options side-by-side. It will turn positive when the protective put options premium is higher than similar risk call options.

The opposite holds when market makers are bullish and this causes the 25% delta skew indicator to enter the negative range.

Deribit Bitcoin options 25% delta skew. Source: laevitas.ch

The above chart confirms that top traders, including arbitrage desks and market markers, are currently uncomfortable with Bitcoin price as the neutral-to-bearish put options premium is higher. However, the current 7% positive skew is far from the 20% exaggerated fear seen in late May.

Derivatives markets show no evidence of top traders getting excited about the recent $40,000 hike. On the bright side, there is room for leverage buyers to mount positions. Stronger upswings usually occur when investors are least expecting, and the current scenario seems to be a perfect example.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

RNN Episode 164 – RAP is Back!

After a long year, the first major show is back and that show is RAP! Join me for several interviews from the floor, apologies up front as my audio is a little loud but had a headphone failure and was talking too loud! Listener Coupon Codes: Marine Depot 10% off your order REEFNEWS Reef Kinetics – $50 off ReefBot RKLOVES Show Watch 2021 Reef-A-Palooza Orlando May 15/16 New York – June 26/27 California August 21/22 Chicago October 16/17 MACNA – September 3, 2021 – September 5, 2021 Aquashella- Orlando June 12/13 Chicago August 14/15 Dallas October 30/31 Powered By: Fritz Aquatics: www.fritzaquatics.com ReefBreeders: www.reefbreeders.com Sicce: www.sicce.com/en/ Media Partners: ReefHacks: https://reefhacks.com Reefs.com: https://reefs.com/ Bahama Llama Coral: https://www.youtube.com/c/BahamaLlamaCoral Reef2Reef: www.reef2reef.com Main Topic: 008 – a practical guide on how to effectively attack and win at a Frag Show! We tell you how to plan, what to bring, and what to do once you are home with all your new buys! Outro: Please like our Facebook and Instagram pages as well as subscribe to the Podcast Reef News Network: www.reefnewsnetwork.com Reef News Road Trip: https://bit.ly/2LZfoKd . Instagram: ReefNewsNetwork Hashtags to follow #ReefNewsNetwork , # , #nation Listener Calls: Go to: www.reefnewsnetwork.com click the tab on the right side of the page to leave us a voicemail. Reviews/Ratings: Reviews and Ratings help us reach new heights and continue to produce quality content, let us know how we are doing.

The post RNN Episode 164 – RAP is Back! appeared first on Reefs.com.

Ethereum, Stellar Lumens, VeChain Price Analysis: 14 June

Even though Bitcoin climbed back above $39,000 after a jump of 8% in a single day, not all coins witnessed a surge in value. Alts such as Ethereum, Stellar Lumens and VeChain saw limited gains within

The post Ethereum, Stellar Lumens, VeChain Price Analysis: 14 June appeared first on AMBCrypto.

Algorand (ALGO) price strengthens as institutional investors back the project

Backing from institutional investors and a series of new partnerships could help ALGO break from its current range in the coming week.

Consolidation periods tend to follow strong rallies but they also present a good opportunity to survey the field and evaluate projects that have strong fundamentals.

One project that continues to gain traction in terms of price recovery and network adoption is Algorand (ALGO), a pure proof-of-stake (POS) blockchain network that has secured new partnerships and real-world use case applications, as well as support from multi-million-dollar funds in recent weeks.

Big funds invest in Algorand-based projects

Raising funds is one of the biggest challenges many projects face and in the last month the Algorand network announced that Arrington Capital, a digital asset manager, had pledged $100 million in funding meant to help accelerate additional development across all facets of the smart contract platform.

This development came on the heels of the June 2 announcement that Borderless Capital, a venture capital firm, had created a $25 million fund aimed at supporting Miami-based blockchain startups developing digital payment solutions on the Algorand network.

Related: Exodus Wallet raises almost $60M in crypto in regulated offering

New partnerships lure investors

A scroll through the Algorand Foundation Twitter feed shows a growing list of cryptocurrency projects across a variety of sectors that have joined up as part of the Algorand community to take advantage of the low fee, POS environment.

The nonfungible token (NFT) sector is showing some interest in the network following a partnership with Curate that will allow for the minting of NFTs as well as the release of a bridge by Curvegrid that will allow businesses to build NFT and blockchain technology into their business and consumer mobile applications.

Other recent examples of adoption include a partnership with the Bermuda-based MAPay healthcare payment solution, which will host its payment solution on Algorand blockchain in an effort to improve efficiency and reduce healthcare costs, as well as a partnership with Xfinite and Eros Now to create a blockchain-based content engagement platform for the 224 million registered users of Eros Now.

These new partnerships come after a busy year for the network which also included the integration of USD Coin (USDC) and Tether (USDT), the two largest stablecoins in the cryptocurrency ecosystem. 

The growing list of network partnerships and investments from players in traditional finance suggests that ALGO is well-positioned to see future growth as the blockchain sector sees continued adoption and the crypto market recovers from it recent sharp correction.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Scottish roofing company ASAP accepts crypto payments

Scottish roofing company crypto payments

ASAP Roofing and Building Ltd., a Scottish roofing company has unveiled that its client base, which includes pensioners, has been increasingly using Bitcoin (BTC) to pay for its services. The company started accepting crypto in 2020. Reportedly, the company now accepts multiple cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and XRP (XRP).

The Glasgow-based company is run by 20-year-old Kaeleb Mckay and his father Cameron. The firm specializes in the roofing of industrial, commercial, and domestic buildings. Apart from this, the company takes pride in traditional build maintenance and repairs. Kaeleb noted that they chose cryptocurrencies as a means of payment because they get paid quickly.

Despite being only 20-years-old, Kaeleb disclosed that been involved in the crypto space for years. According to him, he took a keen interest in crypto as early as 2014. Proving that BTC cuts across all age groups, Kaeleb said that he did a £500-repair in November last year for a pensioner that was well into her 60s. The surprising thing was that she wanted to pay in BTC.

Crypto adoption increases despite mounting concerns

Apart from the above case, the company has received crypto payments on multiple occasions. Kaeleb disclosed that just a few weeks ago, other elderly Brits wanted to pay in crypto with one man paying £180 in ETH for an emergency roof repair.

Although ASAP Roofing and Building Ltd. saw an opportunity and seized it, UK’s financial regulators are increasingly clamping down on crypto. For instance, the Financial Conduct Authority (FCA) cautioned UK citizens that they should be able to lose all their money if they invest in cryptocurrencies. Reiterating the concerns that global financial watchdogs have over cryptocurrencies, the FCA said cryptos are high-risk, speculative investments.

While ASAP Roofing and Building Ltd. has made headlines with its news of accepting BTC, it is not the first company in the field to embrace crypto. In January 2018, Elite Roofing, a roofing company based in Denver announced that it had started accepting BTC for its roofing services. At the time, Randy Brother, the company’s CEO, said cryptocurrencies like BTC are the way of the future.

The post Scottish roofing company ASAP accepts crypto payments appeared first on Invezz.

from Cryptocurrency – Invezz

All About Solana And Why It’s The Game-Changer Crypto Of The Year

All About Solana And Why It's The Game-Changer Crypto Of The Year

While no one can deny the massive influence of Bitcoin on the cryptocurrency and blockchain worlds, and no one can possibly refute the utility of the Ethereum blockchain, there are many other smaller players who are changing the landscape at breakneck speeds. One of these players that have emerged as a key competitor to becoming […]