2 key Ethereum price metrics prove pro traders are behind ETH’s new highs

As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these markets hold a combined $2 billion in ETH open interest. Ether futures…

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Bitcoin Price Will Go Parabolic In 2021

The price of Bitcoin has been consolidating for the last two months, and on-chain analytics and historical precedent suggest that Bitcoin is a caged bull below $60,000, ready for the next leg of parabolic price appreciation. Halving Cycle Dynamic: Three Stages Of A Cycle Source Many are familiar with the correlation between bitcoin’s supply issuance halving and the price action, but digging deeper can provide context to where bitcoin is in the current cycle, and what the future price action may hold. The previous two bitcoin bull runs paint quite…

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Piracy Will Cost Billions to the TV and Music Industries

With the evolution of the Internet, piracy has become increasingly more sophisticated. It’s biggest victims however, are probably music artists and actors. In the last year’s forecast of Digital TV Research, it’s mentioned that the TV series and film could reach a revenue loss of over $50 billion by 2022. This is all attributed to online piracy and those rough estimations do not include sports, pay-per-view and other forms of media content. The real number would be quite higher. If we’re looking at the scale of worldwide blockchain adoption, we…

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Jackson, Tennessee follows Miami’s lead to adopt Bitcoin operations

Jackson, Tennessee is the latest city in the United States moving to adopt Bitcoin (BTC) payments and mining, following recent crypto developments in Florida. Jackson Mayor Scott Conger announced Wednesday that the city is actively exploring the option to pay its employees in cryptocurrency in addition to mining Bitcoin and adding it on the city’s balance sheet. The mayor hinted that the city is looking to enable payrolls in several digital assets, mentioning coins like Bitcoin, Ether (ETH), and Litecoin (LTC). “Local government will lead the way in #Bitcoin adoption,…

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Uzbek presidential agency proposes legalizing domestic crypto trading

A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto exchange trades involving crypto assets and tokens in exchange for the national currency and the foreign currency.” The authority stressed that crypto investors would trade and invest at their own risk. The proposal also aims…

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New Jersey County Liquidates Bitcoin Seized in 2018, Profiting Almost 300% – News Bitcoin News

Individuals and companies are not the only ones who take advantage of the significant bitcoin prices surging across the board, despite recent pullbacks. In New Jersey, United States, a county yielded profits after liquidating seized cryptocurrencies during a drug investigation. Authorities Gained Control of the Cryptos in 2019 According to NBC New York, local authorities from Monmouth County got the bitcoin (BTC) during a raid in the context of an illegal narcotics distribution crackdown in 2018. Investigators found that such digital assets were part of the profits gained by the…

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