Cryptos Sliding Out of the Top Race, These Altcoins are Taking the Place of Top Cryptos

The stock market is flying.

Today, Nasdaq Composite is on pace for another all-time high after setting a new peak yesterday, led by major tech shares such as Microsoft and Apple.

While the S&P 500 is flatline and the Dow dropped 0.7%, tech-heavy Nasdaq gained 0.6%.

But it’s not only the stocks that are surging, but digital assets are also on a tear too, many tokens are gaining 50%-1,000% since the lows in March.

It’s those tokens that are issued by companies that are “beginning to achieve real product market fit,” said Jeff Dorman, Chief Investment Officer at Los Angeles-based money manager Arca.

If we take a look at the top cryptos like Bitcoin, Ethereum, and XRP, it is hard to see, but the crypto market is seeing its very own fireworks.

The Movers & Shakers

In 2020 so far, the DeFi project Aave has surged over 2,100% and Kyber Network 815%. Other known big winners are Bancor (490%), REN (468%), Loopring (342%), Zilliqa (328%), ERD (320%), DigiByte (298%), and Cardano (240%).

Now coming onto the coins that are slowly losing their place are:

XRP, the worst performer of 2020, has already fallen one place below to 4th position.

At the beginning of 2020, Litecoin was at 6th place, EOS 7th, Monero 10th, and Stellar 11th, which have now declined to 8th, 11th, 16th, and 17th place respectively.

Left: Crypto market as of January 4th, 2020, Right: Crypto market as of July 5th, 2020

But today, these positions are captured by other coins. At 6th place, the new crypto is Cardano, which is yet again surging today by 17% and, in anticipation of its Shelley mainnet launch in the coming months, has climbed over 400% since March lows.

IOHK USA, the company behind Cardano, also received a PPP loan between $350K and $1 million.

Chainlink, which continues to make new all-time highs, the latest one is $5.68 at the time of writing, which captured 12th spot, up from 20th rank on January 4th, 2020.

From the 27th spot, Coin has climbed to 10th place, which is up 300% YTD.

Altcoin Season or Extinction

The top cryptos might not be ready yet but still, Bitcoin ended the second quarter better than other traditional assets with 42% gains.

The lack of activity in Bitcoin is actually good for altcoins and its dominance has already been falling since May when it was near 70%.

The DeFi boom is also helping Ethereum, at least in terms of network activity. And it is possible, ETH won’t outperform until the DeFi cycle ends because “new money coming in will have missed the 10-50x returns, see that eth has still trended relatively flat, and buy eth instead as it’s a safer & simpler,” said analyst Ceteris Paribus.

According to trader Crypto Wolf, “ETH is building it’s momentum. We can notice a series of S/R flip, imo this is very bullish as we are building the bases for a parabolic scheme.”

Even XRP may soon see some movement.

However, when this altcoin movement stops, it would be the time for Bitcoin to get on a bull ride. Currently, its implied volatility is at its lowest since March 31, 2019, and realized volatility is at its lowest since April 1st, 2019. So, the leading cryptocurrency may get to see some volatility soon too.

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Author: AnTy

Bitcoin to Follow the Equities Market; One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement.

The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just $624 million.

Meanwhile, altcoins, especially the low cap ones, are enjoying a good uptrend. Among the top altcoins, Cardano is leading the rally with about 6% gains.

Among the top 100 cryptocurrencies, some of the top gainers include REN (17.19%), Loopring (16.95%), Nexo (11.18%), Augur (10.93), ZRX (10.76), Status (9.3%), VeChain (8.42%), Enjin Coin (7.89%), OMG Network (6.92%), and Maker (5.88%).

The market in Anemic State

With a downside move on Thursday, the price of bitcoin bounced from June 27 low, and the hourly chart with a long wick candlestick indicates “the short-selling is not sustainable.”

According to the In/Out of the Money Around Price (IOMAP) indicators by IntoTheBlock, more than 2.1 million addresses previously purchased 1.38 million BTC in the range of $9,095 and $9,365, which is “a critical resistance level as several of these addresses will attempt to break-even on their positions.”

When it comes to the support levels, over 1 million addresses previously purchased 705,000 BTC between $8,805 and $9,076. Holders in this range will “attempt to remain profitable on their positions and push prices above this level.”

As such, buyers are expected to create support near the $8,900 range and sellers to provide resistance around $9,200.

Meanwhile, for trader DonAlt, a close above $9,500, bitcoin could be expected to move over $10,500; otherwise, he’s looking for $8,500 first and then lower to $7,700.

However, the market remains “boring” and “could stay that way for a while,” he said.

Follow the Equities Market?

Due to the Independence Day holiday on July 4, the US stock market was closed today before the S&P 500 rose for the fourth straight day and closed at a 4% weekly gain. The improving job market has the hopes for economic recovery rising that has the equities market up about 7% of the record set in February after about a 34% drop.

“We’re starting to see the real economic data say, ‘Yes, the recovery is here, and it’s real,’” said Brad McMillan, chief investment officer for Commonwealth Financial Network.

The biggest risk to the markets currently is the return of panic we saw in March.

“Legacy markets, however, are rejected at breakout point resistance and “breakdown from these levels would be most logical,” said trader Crypto Yoda.

Now that the trendline is broken and retested on lower time frames, the trader is also expecting bitcoin to follow.

Bitcoin’s 1-month correlation with the S&P 500 provides support to this. The correlation hit a new high of 65.8% this month, as per Skew, which began tracking the data in April 2018. The one-year correlation has also jumped to an ATH above 37%, but reading between 30% to 50% implies a weak correlation.

This means bitcoin continues to be treated like a risk-on asset, but in the current scenario of money printing, this could be a blessing in disguise.

HODLers gonna HODL

HODLers meanwhile are busy holding the digital asset. The number of addresses that are storing bitcoin for at least a year has risen to a peak of 20.3 million in June.

Bitcoin investors believe the flagship cryptocurrency should have a higher value.

Interestingly, bitcoin miners‘ balance is also rising. 1.8 million BTC, about 10% of bitcoin supply is currently held in miner wallets.

But out of this 1.73 million BTC belong to very early miners, and are likely to be lost, as such only 70k BTC is with current mining pools, noted Glassnode.

Miners’ cumulative revenue has also reached $17.5 billion on July 2nd, as per Thermocap, a metric used as a lower bound for the capital inflow into an asset.

Since 2018, while Bitcoin’s Thermocap has been $12.6 billion, Ethereum recorded $4.9 billion, Litecoin $932 million, and Bitcoin Cash $810 million.

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Author: AnTy

US Congressman Davidson Refers to Bitcoin As ‘Sound Money Required to Defend Freedom’

Bitcoin has found yet another supporter in the government in the form of Rep. Warren Davidson, (R) Ohio’s 8th Congressional District.

The sitting US Congressman took to Twitter on June 22nd to Tweet, “#SoundMoney is required to #DefendFreedom” with an image containing Bitcoin.

“Thank you, congressman, for your advocacy!” commented Meltem Demirors, Chief Strategy Officer of CoinShares, a crypto investment firm.

Davidson’s bitcoin support isn’t new: he is a familiar figure in the crypto world for authoring the Token Taxonomy Act.

Last year, he not only said that Facebook should drop its Libra plans and adopt Bitcoin but also used the term “shitcoin” during the congressional hearing related to facebook’s so-called cryptocurrency.

Earlier this month, Davidson appeared on the “Unchained” podcast with Laura Shin, where he talked about how, due to issues in international payments, he was introduced to DigiCash and then came to know about the “pretty elegant solution” bitcoin.

Although he doesn’t own any BTC himself, he views Bitcoin “kind of like digital gold versus a true currency. I think it’s a great store of value.”

But unlike Davidson, President Trump is not a Bitcoin supporter as we got to know when he explicitly tweeted about a year back that he isn’t a “fan of Bitcoin and other Cryptocurrencies.”

At that time, he said they are not money; instead, cryptos are based on speculation and are highly volatile, which are used to facilitate unlawful behavior.

Then we came to know last week that Trump was wary of the world’s leading digital currency as early as in May 2018. It was revealed in the book “The Room Where It Happened” by former national security advisor John Bolton that Trump told Treasury Secretary Steven Mnuchin to “go after Bitcoin” in a meeting about China.

Crypto also featured in White House’s budget proposal for the fiscal year 2021. Where moving the secret Service from the Department of Homeland Security to the Treasury Department was proposed, which would “create new efficiencies” in preparing the US to face “the threats of tomorrow,” such as the use of cryptos to finance terrorism.

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Author: AnTy

DeFi Project Bancor Hacks Own Protocol to Save Funds at Risk from Security Vulnerability

  • Yet another DeFi project faces security risk.
  • On June 17, around 12:00 am GMT, the on-chain liquidity protocol Bancor Network was vulnerable to fund loss.

San Francisco-based Hex Capital reported that “User funds being drained due to unauthenticated safeTransferFrom() function on their new BancorNetwork contract.” Bancor then tried to “white-hat” drain user funds but were too late.

However, as per Bancor’s official response on the security incident all funds are safe as they were successful in the white-hat attack and migrated $455,349 of funds at risk to a safe wallet.

The team discovered the vulnerability in the new version of BancorNetwork v0.6 contract, which was deployed the day before the attack.

The contracts mistakenly made a safeTransferFrom function in the Bancor Network contract public, which use allowance to interact with user wallets, a common practice used by most Dapps.

In this particular case, a private function was made public when it should have been restricted to the contract alone, allowing anyone to transfer tokens which were approved only for the contract to transfer, explained the team.

After the successful white-hat attack, Bancor pushed a new network contract and removed the infinite approval.

However, two arbitrage bots detected the income transactions and made a profit of $135, 229 by front-running the transactions. Bancor is currently in contact with the bots’ owners to “return the amounts to the rightful owners in exchange for a bug bounty.”

Bancor also awarded a bug bounty to DEX Aggregator 1inch team for helping with the situation.

Trading is now back to normal on the system.

The incident however pushed Bancor (BNT) token prices down by 6.64% to $0.778 while other DeFI tokens are enjoying substantial greens. BNT is still up 227% YTD.

Security research manager Tal Be’ery, co-founder or ZenGo said he warned about the risks of the approval exploit three months ago.

This is not the first time a DeFi project has been at security risk. In 2020, there have been several cases where millions have been lost calling for the projects in the DeFi space to better their security standards.

Meanwhile, Melody He, co-founder of The Spartan Group, a crypto hedge fund which is an active investor in Defi maintains,

“Defi will become source of new revenue and inspiration. Whoever understands the power of Defi, will have a higher chance of keeping their competitive edge.”

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Author: AnTy

Despite Testing $10,000 Multiple Times, Bitcoin Bulls May Not Arrive Yet

Yet another week of bitcoin testing $10,000 and we are back at trading around $9,600. Since the halving on May 11, the digital currency has been trading in narrow ranges.

Historically, the event has led to bitcoin rallies. Since halving, so far BTC/USD has gained just over 12% but the overall technical momentum was still negative as it had more down days than up days. Nicholas Pelecanos, head of trading at NEM Ventures said,

“Bitcoin is on a see-saw, between bulls and bears.”

“On one end, we have network data and technicals; the other, strong fundamentals and a correlation to U.S. stock indices.”

The bitcoin network data is flashing more bearish signals than bullish, as such, he is expecting further short-term selling.

Cryptocurrency exchanges are also seeing a huge inflow of BTC which could be with the intent to sell their coins.

On-chain data also indicates a change in behavior from miners and they are selling inventory but according to Adamant’s Tuur Demeester this is “bullish” because “healthy bitcoin miners are hodling, and struggling miners have little BTC left to sell.”

According to Miner Outflow Multiple, the ratio of miner outflow in USD and its 365 day MA, miners moving a large amount of bitcoin is currently near its all-time low.

The underlying fundamentals of bitcoin are healthy with mempool data back to its normal levels, transaction fees reverting to lower levels and the hashrate stabilizing at a reasonable level.

Major Chinese mining equipment makers, Bitmain and MicroBT have also been dispatching their most efficient ASIC miners; AntMiner S19 and WhatsMiner M30S. Miners have also been active users of the fast-growing borrow/lend crypto market.

Meanwhile, futures premiums continue to go up with CME traders still more bullish than the retail-focused platforms.

Bitcoin has barely scratched the surface

In the short term, bitcoin might still have to weather the bears but in the next six to twelve months investors are expected “to reap the rewards of post-halving price movements.” Lennard Neo, head of research at Stack Funds said,

“In reality, there is a significant time lag between the halving event and the establishment of renewed market equilibrium based on general supply and demand.”

Besides the supply side affected after the halving and the times for miners to find their break-even point increased, investors are also banking on institutional demand.

Amidst the coronavirus pandemic, fund flows into crypto asset managers have been robust.

Grayscale is already consuming more Bitcoin than mined since halving. Since April, the firm has had its bitcoin investment funds ballooned to $3.5 billion as of June 2nd, up from $2 billion at the end of the first quarter. Michael Sonnenshein, managing director at Grayscale with $4 billion in cryptos assets under management said,

“There’s a lot of momentum and interest in investing in digital currencies particularly in the face of uncertainty, the pandemic, political tensions, and the amount of stimulus being pumped into the global economy.”

According to James Wo, chairman of Digital Finance Group, a $500 million crypto and blockchain fund, bitcoin is digital gold and as such, has barely scratched the surface. He said,

“Bitcoin has great potential to grow.”

“Gold has an eight trillion-dollar valuation, while bitcoin has less than $200 billion dollars in valuation. It just needs more time for mainstream adoption. People need enough time to fully understand and believe in it.”

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Author: AnTy

Bitcoin Flash Crashes to $8,600 with BitMEX Shenanigans at Play Again

Bitcoin doing bitcoin things!

Today, Bitcoin had yet another moment like March 12, although the price didn’t crash that low.

Yesterday, Bitcoin jumped as high as $10,430 and was trading above $10,100 when in a sudden move BTC went down hard to as low as $9,150 on Bitstamp, $9,300 on Coinbase, and $9,400 on Binance.

On BitMEX, which is notorious for offering 100x leverage on bitcoin contracts, BTC dropped 15% in a single candle, at a lower level of $8,600 just like it did on Black Thursday when Bitcoin tanked to $3,600 compared to $3,800 on other exchanges.

“The reason bitmex wicked so hard is because bitmex has the most OI, and it seemed the most highly leveraged OI,” said trader Loomdart.

In the past 24 hours, the amount liquidated was $992.68 million and 39,924 people. The largest single liquidation order occurred on BitMEX with a value of $10 million, as per CryptoDiffer.

The expensive lesson for noobs here was, “don’t naked short or long bitcoin, or you will get burned on your stop losses.”

“That sort of rigorous selloff makes me think there are some big fish trapped in shorts or largely on the sidelines. Nevertheless they successfully trapped a lot of smaller fish in longs,” said trader Ledger Status.

As BTC price fell below $10,000, the buyer-taker volume was only 46 BTC while the seller-taker volume surpassed 1,500 BTC in just one minute, as per IntoTheBlock data.

“Trades Per Side measures buyer volume crossing the spread vs the seller volume crossing the spread.”

With this latest drop in price, now a “triple top” is in play with $7,900, $6,900-$7,500, and $5,100-$5,300 as the attractive areas to buy the dip.

Interestingly, bitcoin’s drop has us retesting the curve chart the flagship cryptocurrency has been following and touched during the March sell-off. Now, we are carrying higher.

Source: @JonnyMoeTrades

However, according to trader and investor Josh Rager, to be flat out bullish, bitcoin needs to print a weekly close above $10,400s. From there, we can make our move to new highs but until then this is just another lower-high.

Despite this 15% drop on BitMEX, bitcoin is at a level we were at yesterday, just having another failed attempt to break above $10,000 successfully. The losses in bitcoin also mean, “there’s a CHANCE we see a real alt season” given that they are holding well.

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Author: AnTy

Derivatives Exchange BitMEX Hit with a Civil RICO Lawsuit From Bitcoin Manipulation Abatement

Crypto derivatives exchange BitMEX is facing yet another lawsuit.

Puerto Rican company BMA LLC formerly known as Bitcoin Manipulation Abatement is accusing the exchange of “deliberately designed, from the ground up” to facilitate “a myriad of illegal activities.”

This isn’t the first time that BMA is suing a crypto company, as just two weeks ago they filed a lawsuit against Ripple and its CEO Brad Garlingouse for an alleged violation of US securities law in XRP token sale.

Before that, in November, they targeted BitMEX competitor FTX alleging them of price manipulation only to dismiss the case voluntarily a month later.

Now, BMA and Pavel Pogodin who control this little-known firm filed a suit in the US District Court for the Northern District of California alleging BitMEX’s parent company HDR Global Trading reaped billions in illegal profits via wire fraud, unlicensed money transmission, money laundering, and violations of the Racketeer Influenced and Corrupt Organizations Act or RICO.

The plaintiff accused the company of illegally processing $3 billion each day, “which is the record volume for such unlawful activity in the entire history of the monetary regulation in the United States.”

This has been in violation of US federal law on the grounds that BitMEX failed to acquire a money transmitter license, alleges BMA.

Also, about 15% of the $138 billion trading volume recorded by BitMEX in 2019 belongs to the traders located in the US.

BMA also alleges the derivatives exchange manipulated the crypto markets by boosting the Bitcoin price artificially.

The lawsuit further notes the extremely high trading leverage, 100x offered by BitMEX and claims the exchange uses the server freezes and “system overload” to accept and reject trading orders during volatile markets to cause price fluctuations and trigger maximum liquidations.

Plaintiff also took shots at BitMEX co-founder and CEO Arthur Hayes, calling him “cryptocurrency’s P.T. Barnum” who is a “promoter for the ‘degenerate gamblers’ he solicits, and encourages speculative trading by (…) making bold predictions designed to elicit responses and move the market in a way that is profitable for BitMEX.”

HDR Global is aware of the complaint and will be defending itself against the “spurious claim.” An HDR spokesperson said,

“BMA has recently emerged as a serial filer of claims against companies operating in the cryptocurrency space, and is widely recognised for operating just like a patent troll.”

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Author: AnTy

“Economy Dying, Fed Incompetent,” Invest In Gold, Silver, Bitcoin: Rich Dad Poor Dad Author

Last week we reported Congress passed another $3 trillion coronavirus relief package after having spent $3 trillion already. But this won’t be enough and according to Fed chairman, Jerome Powell, both Congress and Fed would have to do more.

But worry not, because Fed isn’t out of ammunition, “not by a long shot.” They have interest rates to slash or better yet the unlimited money printing that they have already been doing. As Powell said on Sunday on CBS News,

“As a central bank, we have the ability to create money digitally.”

But not everyone agrees with Powell’s tools to prop the economy back. “ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading,” said ‘Rich Dad, Poor Dad’ author Robert Kiyosaki.

According to him, the three investments to “prepare for the worst” are bitcoin, gold, and silver. And he expects all three of them to experience a jump in price in the coming years. As per his prediction, gold will rise 43% within a year to $3,000 and silver 135% to $40 in five years.

Bitcoin, the deflationary cryptocurrency with a limited supply, is expected to jump the highest 665% to $75,000 in the next three years.

Kiyosaki has long been a bitcoin supporter and has been calling for investing in these scarce assets.

While the money supply only continues to rise, last week, Bitcoin had its third halving that cut down miners’ reward in half and reduced its inflation to 1.8%.

“The rest of the world needs to either keep printing money or see their own currency eroding drastically in front of the unbeatable dollar,” said Jean-Marie Mognetti, chief executive officer of CoinShares.

“Bitcoin, a digital currency whose supply is programmatically defined to reduce until it reaches its maximum supply, would seem to be the perfect hedge for any institutional investor portfolio.”

Recently macro investor Paul Tudor Jones also became a bitcoiner and has almost 2% of his assets in the digital asset which according to him is an inflation hedge.

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Author: AnTy

Professional Money Managers Loading Up on Bitcoin Post Halving

After making yet another attempt towards $10,000, Bitcoin failed to take over this important level and is currently trading under $9,500.

Interestingly, the world’s leading cryptocurrency is challenging the downtrend experienced after the 2017 bull run.

But this time a lot of factors are in bitcoin’s favor. For starters, bitcoin looks to be decoupled from the stock market.

Also, this week, the 7-day average “real” trading volume pushed to the highest levels of 2020. This week followed last week’s volatile but solid volume.

The last time bitcoin price was at this level was in July 2019, when the BTC price peaked at $13,900.

CME Captures Market Share

This week, the regulated market CME really shone as well. Over the last month, CME bitcoin futures saw significant growth in terms of open interest. Prior to the March crash, CME accounted for 4%-8% of all the open interest in the bitcoin futures market.

But this crash made a visible trend shift that has CME gaining the market share as it now accounts for 15% of OI. Arcane Research noted,

“This growth may indicate that professional money managers have loaded up on bitcoin following the market crash, seeking to allocate cash into a provably scarce asset class.”

Excluding Paul Tudor Jones’ $75 million worth of OI on CME bitcoin futures, still $400 million is held by other investors.

However, open interest in OKEx bitcoin futures has dropped which means traders are taking profits on their positions. As we reported, the bitcoin options market has surged to an all-time high this week.

Deribit remains the biggest player in the options market with its OI steadily fluctuating between 80% to 90% of the total market. CME that used to play a minor role now accounts for about 1-2% of total OI after recording over an 11% increase on Thursday.

Fast and strong growth

When it comes to the Bitcoin network, the 40% crash in bitcoin hash rate in the days following the halving that reduced mining profitability to half had some miners moving back to bitcoin forks.

Meanwhile, Network Value to Transaction ratio indicated bitcoin price might be about to enter a period of “fast and strong growth.”

Source: ArcaneResearch

NVT ratio measures the BTC price relative to the value transferred over the network. Over the past three years, the ratio exceeding 10 could indicate a fast and strong pace growth as seen in 2017, 2019, and 2020 and above 12, it could be a local top.

Also, network traffic must increase for the price to continue rising and in USD terms, network traffic is rising sharply.

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Author: AnTy

Bitcoin Futures & Options Traders Are Betting on a Big Spike in BTC Price

Another rally seems to be on the way as bitcoin makes yet another attempt to take over $10,000.

Going as high as $9,945, BTC/USD is back at $9,600. This spike in price also resulted in the bitcoin-stocks decoupling.

The thing worth noting here is the Weekly Flag, typically a bullish pattern, which was invalidated by a bearish catalyst in March, now has a bullish catalyst at play.

The “confirmed breakout past the diagonal on the Weekly,” would mean uptrend but price still needs to stay above $9,100 until the end of the week.

“This trendline has been a strong resistance since mid-December 2017. A Weekly candle close would most likely confirm a new era for Bitcoin’s price,” said analyst The Rekt Capital.

BTC, USDT, and ETH Dominate

The “real” volume has also started to catch up with the price. In the past 24 hours, over $2.6 billion worth of bitcoin exchanged hands-on top ten exchanges with real volume, as per Messari.

Interestingly, Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) account for 90% of trading volume on crypto exchanges among the top ten cryptos, up from 75% a year ago.

Messari real volume
Source: MessariCrypto

Since the deep market crash in March, the popular USD-pegged stablecoin has been in great demand as investors flock to the safety of the Tether (USDT) just like the demand for USD soared globally.

“The market cap of USDT used to follow the bitcoin price. Since September 2019, however, the market cap of USDT has ballooned while the price of bitcoin is more or less unchanged,” noted Arcane Research.

ETH-based USDT is found to be more in use during the Asian and European market hours.

“Stablecoins are a crucial part of the crypto ecosystem, and will only keep growing in prominence,” states the Coin Metrics report.

Futures and Options Market

Bitcoin making its way back to $10,000 has the futures and options market alive as well.

When it comes to bitcoin options, the total interest rate has climbed to a new record of over $1.1 billion.

Source: Skew

Interestingly, CME bitcoin options had a third consecutive record volume day with activity in the June calls. Open interest on CME bitcoin options surpassed $100 million for the first time.

Just like Deribit, trading activity here is also focused on calls here, a call option is a bet that prices will rise in the underlying spot market.

Earlier this week, CME bitcoin futures also traded nearly $1 billion in volume but is back below $500 million. Open interest on these contracts has risen to $500 million.

On May 11, CME competitor Bakkt bitcoin futures also had a solid halving session with a record volume in notional value, having crossed $51.8 million. Open interest meanwhile has fallen from $13 million on May 8th to under $9 million.

A heightened interest in bitcoin is surely here which is driven by the central banks printing money, negative interest rates, capital controls, and the fear of inflation and recession.

“We’re seeing a huge increase in interest in Bitcoin, in getting into crypto from high-net-worth individuals, from funds… It feels like a herd is on its way, finally,” said Mike Novogratz, founder and CEO of Galaxy Digital.

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Author: AnTy