A class-action lawsuit accusing MakerDAO of misrepresenting the risks associated with its DAI stablecoin has been stayed pending arbitration proceedings.
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Category: Black Thursday
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Makerdao Vote to Not Compensate Black Thursday Victims Receives Harsh Criticism
Large Makerdao holders decided not to compensate the victims that were liquidated during the unexpected flash crash that took place on March 12, otherwise known as ‘Black Thursday.’ An aggregate total of 38 votes was cast and more than 65% of the governance portal participants voted for zero compensation. The day after March 12, otherwise […]
The post Makerdao Vote to Not Compensate Black Thursday Victims Receives Harsh Criticism appeared first on Bitcoin News.
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Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble
Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by […]
The post Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble appeared first on Bitcoin News.
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Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’
On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks. Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of […]
The post Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’ appeared first on Bitcoin News.
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Bitcoin Exchange Reserves Drop to a 12-Month Low Fueling Bullish Optimism
The number of bitcoin held on exchanges has touched a 12-month low, as bitcoin exchange balances have reached levels not seen since June 2019. According to onchain statistics, there’s more than 2.6 million BTC held on global trading platforms worldwide. Data from a number of sources show that the bitcoin (BTC) held on exchanges has […]
The post Bitcoin Exchange Reserves Drop to a 12-Month Low Fueling Bullish Optimism appeared first on Bitcoin News.
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93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday
Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm Glassnode revealed that when the price of bitcoin (BTC) is over the […]
The post 93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday appeared first on Bitcoin News.
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83% of Bitcoin Addresses Currently Profitable, Says Glassnode
At least 83% of existing Bitcoin addresses are currently in a state of profit, according to Glassnode. That’s a 43% increase since bitcoin’s precipitous crash on March 12, now known as the ‘Black Thursday.’ At the time, only 45% of all the BTC addresses were profitable – a low for 2020. Per the new data, […]
The post 83% of Bitcoin Addresses Currently Profitable, Says Glassnode appeared first on Bitcoin News.
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Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year
According to the creator of the analytical bitcoin data web portal, Look Into Bitcoin, a chart often referred to as ‘Hodl Waves’ shows a bull run could be imminent. The web portal’s analyst Phillip Swift recently tweeted that 60% of all the bitcoin in circulation hasn’t moved in twelve months. The last time this trend […]
The post Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year appeared first on Bitcoin News.
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12 Months of Onchain Data Shows Bitcoin Whales Obtained Hundreds of BTC from Small Fish
According to recent data, crypto participants known as ‘bitcoin whales’ have been steadily accumulating bitcoins, and not selling since the ‘Black Thursday’ market carnage on March 12, 2020. Onchain data and blockchain analysis firms indicate that the number of bitcoin whales with 1,000 to 10,000 BTC or more on a single address has increased significantly. […]
The post 12 Months of Onchain Data Shows Bitcoin Whales Obtained Hundreds of BTC from Small Fish appeared first on Bitcoin News.
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Maker Debt Crisis Post-Mortem Recommends New Safeguards
A new report makes several recommendations to prevent future debt crises for the Maker DeFi protocol
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