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Raoul Pal explains why he isn’t surprised by bitcoin’s correlation to stocks

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale’s GBTC

Guggenheim Partners, the $200 billion-plus asset-manager, could be the latest Wall Street firm to allocate capital to the cryptocurrency market, as per a filing.  The firm, which invests across asset classes on behalf of companies, pension funds, and sovereign wealth funds, wrote in a filing on November 27 that it might “seek investment exposure to …

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CME bitcoin futures cross $1 billion in open interest — a new all-time high

CME bitcoin futures cross $1 billion in open interest — a new all-time high

CME Group’s cash-settled bitcoin futures have hit an all-time high open interest of $1 billion. The milestone comes as bitcoin price continues to surge at around $18,000 levels. The spike in the open interest, or the value of outstanding derivative contracts that are yet to be settled, suggests that more money is flowing in the …

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More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created

More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created

The amount of available DAI — the stablecoin tied to the Ethereum-based lending protocol Maker — has surpassed $1 billion, according to available data. DaiStats reports that a total of 1,001,031,052.54 DAI has now been issued. DAI is created when collateral, such as ETH, is locked into a smart contract called a Vault. That DAI …

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Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Analysts are bullish on bitcoin’s price but the options market is decidedly bearish on the remaining weeks of 2020. Ethereum’s wrapped bitcoin token crosses $2 billion locked. Bitcoin (BTC) trading around $16,240 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $15,971-$16,487 BTC above its 10-day and …

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Legitimate volume on spot crypto exchanges fell to $125.8 billion in October

Legitimate volume on spot crypto exchanges fell to $125.8 billion in October

Cryptocurrency trading volumes decreased by 25.8% in October, according to The Block’s volume index for spot exchanges. October’s legitimate volume figure came in at $125.8 billion compared to $169.5 billion for the month of September. As previously reported, volume on decentralized exchanges fell during October as well. Those volumes declined to $18.46 billion from September’s $24 …

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Nearly $1 billion in bitcoin from the fourth-largest wallet just moved

Nearly $1 billion in bitcoin from the fourth-largest wallet just moved

69,369 bitcoins, worth approximately $955 million, just moved out of wallet address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, the fourth-largest bitcoin wallet according to BitInfoCharts. This is the first outflow activity of the wallet since April 2015. Vice previously reported that the address has been passed among hacker circles in an attempt to crack the wallet and access the bitcoins …

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Decentralized exchange volumes hit $23.5 billion in September

Decentralized exchange volumes hit $23.5 billion in September

Data for September shows that decentralized exchanges saw more than $23 billion in trade volume for the month. The approximately $23.5 billion in volume reflects a 103% month-over-month increase compared to August’s $11.6 billion, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem. September’s volume figure is higher than previously …

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Curve becomes third DeFi protocol to hit $1 billion in total value locked

Curve becomes third DeFi protocol to hit $1 billion in total value locked

Curve, a decentralized exchange (DEX) for trading stablecoins, has become the third decentralized finance (DeFi) protocol to hit $1 billion in total value locked. This milestone follows just one day after non-custodial lending and borrowing protocol Aave hit the $1 billion mark on Saturday. Earlier this week, Curve was forced to launch its governance platform …

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Aave becomes second DeFi protocol to hit $1 billion in total value locked

Aave becomes second DeFi protocol to hit $1 billion in total value locked

Aave, a non-custodial lending and borrowing protocol, has become the second decentralized finance (DeFi) protocol to hit $1 billion in total value locked. The milestone means Aave users have deposited $1 billion worth of assets into the protocol for lending and borrowing purposes. Aave recently announced version two of its protocol, preparing a suite of …

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More than $180 billion in bitcoin was transacted on-chain during 2020’s Q2

More than $180 billion in bitcoin was transacted on-chain during 2020’s Q2

The value transaction on the bitcoin network saw a small increase between the first and second quarters of 2020. As shown in the chart below, in the second quarter of 2020, users transacted more than $180 billion in bitcoins. That amounts to an average of $1.98 billion per day. The data pointed was included in …

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