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This Bitcoin analyst said he would 'pick up a long' at this range

Out of more than 1,600 and available cryptocurrencies in the market, Bitcoin and Ethereum are the most dominant and relevant ones. While the former remains the largest coin in terms of market capitali

The post This Bitcoin analyst said he would 'pick up a long' at this range appeared first on AMBCrypto.

Relite Finance Governance Token RELI Now Available On PancakeSwap

Relite Finance Governance Token RELI Now Available On PancakeSwap

Relite Finance, a decentralized lending protocol, has announced the listing of its native RELI token on PancakeSwap, a superior DEX platform on Binance Smart Chain (BSC). The Relite Finance team recently completed BSC bridge implementation using a smart contract, thereby enabling the launch of RELI/BNB. The bridge was long-anticipated and was marked as an important […]

Bware Labs Makes It High-Performance Decentralized Node Network Available to the Public

Bware Labs Makes It High-Performance Decentralized Node Network Available to the Public

Bware Labs, a decentralized infrastructure that provides an interface between Blockchain APIs consumers and node providers, has released the MVP for its platform. According to the announcement, Bware labs has finally shared the MVP with the public or otherwise referred to as a functional prototype. This new development will allow users to set up a […]

Splinterlands Blockchain-Backed Game Announces Sell Out Of 1.5M Untamed Edition Booster Packs

Splinterlands Blockchain-Backed Game Announces Sell Out Of 1.5M Untamed Edition Booster Packs

Splinterlands, a blockchain-based collectible card game, has just announced that its Untamed Edition booster packs are completely sold out. The edition offered a total of 1.5 million NFT packs each at $2, all of which were depleted by Friday, June 11. Owing to its popularity as one of the most proactive and rewarding games, the […]

Top Binance Smart Chain (BSC) Updates | June Week 2

Binance Smart Chain (BSC) has experienced some notable developments. To keep users informed of the latest developments concerning BSC, Altcoin Buzz has compiled the latest updates from last week. In addition to iMe Smart Platform announcing support for Binance Smart Chain (BSC), other updates include Guarda Wallet supporting BSC, and Seascape also announcing its registration for the […]

The post Top Binance Smart Chain (BSC) Updates | June Week 2 appeared first on Altcoin Buzz.

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

The biggest single unlocking day will flush sellers from the market in July, opening up both volatility and bullish potential.

Institutional Bitcoin (BTC) investors are in the spotlight as an upcoming major cashout date sparks talk of fresh price volatility.

As noted by popular Twitter commentator Loomdart and others this week, attention is focusing on buyers and sellers of the Grayscale Bitcoin Trust (GBTC) as Bitcoin hovers near $40,000.

July means BTC price volatility

A giant in the institutional Bitcoin space, GBTC has over $24 billion in assets under management.

It is not available constantly — as Cointelegraph reported, the trust operates with periodic closures, which this year have coincided with its buy-in price trading at a discount to spot price.

This negative “GBTC premium” has formed a major talking point in its own right, as invested funds are locked up for a set period and then released, allowing investors to cash out at certain times depending on when they bought in.

GBTC premium vs. BTC/USD. Source: CryptoQuant/Twitter

A combination of negative premium relative to spot and a large unlocking of funds means that July will be particularly interesting for BTC price action. Previously, such an alignment has meant increased volatility.

July 19 will see the biggest single unlocking day, with 16,000 BTC ($627 million) released.

Grayscale Bitcoin Trust Unlock dates. Source: Bybt.com

Bucking a declining trend

For popular pseudonymous trader Loomdart, this nonetheless provides a chance for selling pressure to stabilize afterward, paving the way for BTC bulls to crush longstanding resistance lines.

This would form a refreshing counterpoint to the broadly bearish picture on institutional markets, with open interest in Bitcoin futures way down versus prior to the May price dip to $30,000.

On-chain analytics resource CryptoQuant noted the decline in interest last week, something which, in turn, came in tandem with a dramatic decline in overall BTC transaction numbers.

HaloDAO to Hold Anticipated Initial DEX Offering on SushiSwap MISO on June 24

[PRESS RELEASE – Singapore, Singapore, 11th June 2021] HaloDAO, a comprehensive decentralized finance protocol designed to create asset agnostic global money fund networks, will hold its anticipated Initial DEX Offering (IDO) on June 24, launching on SushiSwap’s recently deployed MISO Launchpad at 12 PM UTC. The whitelisting process is currently open with 1000 slots available […]