Month: April 2021

Why Are Gas Fees So Low? Inside ETH’s Secret Bot Wars

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Key Takeaways Arbitrage bots snipe pending transactions by copying them and adding a higher gas price. This creates gas bidding wars to profit from large transactions, raising gas prices for regular users. The Flashbots team have helped significantly reduce gas fees in recent days. Share this article In Ethereum’s “dark forest,” one brave dev team has taken on the hard task of slaying the arbitrage bots that have spiked gas prices and extracted $370 million from regular DeFi users. The War Against High Gas Prices Gas prices dropped significantly over…

ConsenSys-backed poker platform secures $5M investment

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Ethereum infrastructure firm ConsenSys and venture capital fund Pantera Capital have led a group of investors in a $5-million funding round for Virtue Poker, according to an announcement on Monday. Other participants in the strategic investment round included blockchain investment outfit DFG and FunFair founder Jez San. Virtue Poker, an Ethereum-based decentralized poker platform, was founded back in 2016 within the ConsenSys suite of blockchain projects. Back in 2020, the company secured a B2C — Gaming Service License from the Malta Gaming Authority. The $5-million investment will be used to…

GameStop Job Listing Hints at Crypto or NFT Project

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Share this article NASDAQ-listed retail business GameStop is looking for a security analyst with experience in cryptocurrency, blockchain, and NFT.  GameStop Joins Crypto Bandwagon  The additional skills and experience section of GameStop’s recent job posting for a security analyst states that ideal candidates will have experience with “blockchain, cryptocurrency, and non-fungible tokens.” The vacancy has opened at GameStop’s headquarters in Grapevine, Texas.  The U.S.-based franchise for retail gaming and trade-in made the front page of financial news worldwide after a social media-powered buying led to a historic short-squeeze, pumping GME…

Stellar Primed to Break Out as Institutions Buy XLM en Masse

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Key Takeaways Stellar recently made a new yearly high of $0.66. On-chain data shows that Grayscale has been adding many tokens to its holdings to meet institutional demand. As buying pressure mounts, XLM seems primed to advance further. Share this article Stellar entered a new uptrend that has seen it rise over 60% since the beginning of the month. While institutional investors continue scooping up more XLM, prices look poised to break out.   Institutional Demand Skyrockets Institutional demand for XLM seems to be picking up at an exponential rate. Although…

Ripple (XRP) Consolidates Gains, Why Rally Isn’t Over Yet

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Ripple extended its rally above the $1.200 resistance zone before correcting lower against the US Dollar. XRP price is now consolidating gains and it is likely to rally again above $1.400. Ripple rallied towards $1.50 before correcting lower against the US dollar. The price is now trading well above $1.1500 and the 100 simple moving average (4-hours). There is a key contracting triangle forming with support near $1.3100 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a fresh rally if…

Bitcoin Steadies Above $59K, Here’s How Bulls Could Aim Fresh Rally

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Bitcoin price failed to continue higher above $60,800 and corrected lower against the US Dollar. BTC is now holding gains and it is likely to rally above $61,000 unless there is a break below the 100 hourly SMA. Bitcoin is struggling to gain momentum above the $60,000 and $60,500 levels. The price is now trading above the $59,000 level and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $60,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Why Bitcoin Price Is Gearing For Another Lift-Off To New ATH

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Bitcoin price is showing positive signs above $58,500 and $59,500 against the US Dollar. BTC is likely to accelerate higher above $61,000 and $62,000 in the near term. Bitcoin gained bullish momentum above the $58,500 and $59,200 resistance levels. The price is now trading above the $60,000 support and the 100 simple moving average (4-hours). There is a short-term bullish continuation pattern forming with resistance near $60,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally if it clears the…

Crypto Analyst Expects “Escape Velocity” When Bitcoin Breaks $60K. Here’s Why

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Bitcoin price is still stuck under $60,000 but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.” Here’s what the term means and what that could look like post-breakout of the key resistance level. Bitcoin Could Reach Escape Velocity After Breaking Above $60,000 Bitcoin price action has come to a critical impasse, either ready to explode to hundreds of thousands of dollars per coin,…

Bitcoin Reclaims 100 SMA, Here’s Why BTC Could Resume Uptrend

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Bitcoin price started a fresh increase above the $57,500 resistance against the US Dollar. BTC is showing positive signs above $58,000 and the 100 hourly SMA. Bitcoin remained well bid above the $56,000 level and it started a fresh increase. The price is now trading above the $58,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $57,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls…

Crypto CEO “Convinced” Of Bitcoin Cycle Top, Warns Of Sell Side Intensity

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Despite the best efforts by bulls for what has been several weeks now, Bitcoin price can’t seem to get back above $60,000 and spend any meaningful time above it. Fundamentals are as bullish as it gets for the top cryptocurrency, but bearish technicals might have finally caused sellers to step in. That’s according to one crypto company CEO, who has warned of sell side intensity increasing substantially in the last several hours. It’s caused them to be increasingly convinced that a cycle top is potentially in. Here’s a deeper look…