Home » 2020 » December » 27

Daily Archives: December 27, 2020

Delighted Boxing Day from CryptoDaily!

Happy Boxing Day!

From our team to you and your family, we hope you’ve had a lovely holiday season! Of course, it isn’t over just yet! Boxing Day is a time to relax and stuff your face with chocolate, sweets and all that good stuff!

Normal service here at the CryptoDaily will continue throughout the week with plenty of blockchain and crypto-related articles to read upon as usual!

As we look at 2021, many of us will be wondering what is to come?

With many countries all over the world starting to get vaccines ready for COVID-19, hopefully, many countries will go back to the way they were before.

It’s safe to say that coronavirus has had a massive impact on our lives this year and a lot of us will be happy to see the back of 2020.

For cryptocurrency though, what will 2021 hold?

We’ve had a very exciting year for the world of cryptocurrency, bitcoin has skyrocketed despite the ongoing pandemic and economic crisis that has come as a result and many people have been estimating very bullish and optimistic predictions for the coming year.

As we always say here at CryptoDaily, it’s always worth doing your research before investing in crypto-assets and that we are not financial advisors and this is not financial advice.

Enjoy the rest of your holiday and celebrations, we hope you have a good one! Keep it with CryptoDaily for all the latest crypto on the blockchain news.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Happy Boxing Day from CryptoDaily!
Sourced From: cryptodaily.co.uk/2020/12/boxing-day-from-cryptodaily
Published Date: Sat, 26 Dec 2020 18:04:51 +0000

Gifting bitcoin, Will it one day end up being the brand-new regular?

Now that the main event of Xmas is out of the way for most people, we want to know if you got any bitcoin this Christmas!

It might be a strange present but maybe that’s what makes it so interesting.

It’s becoming a yearly tradition at this point, but I’m sure our readers will have asked for a whole bunch of stuff this Christmas but did anyone have the guts to be cheeky enough to persuade their friends/family for some bitcoin? 

Of course, this year has been strange in many ways so maybe bitcoin being a present isn’t the oddest of things to have happened in 2020!

As we reiterate time again on CryptoDaily, investing in crypto is risky. 

Buying Bitcoin is such a gamble. As a result of the volatility, you could purchase a gift for somebody in Bitcoin that could be worth x amount at the time of purchase, but it could have lost 50 percent of its value by the time you actually give them the gift! Suddenly, your gift is not what you thought it was, but does this make it worse? 

Alternatively, your gift could increase in value by 50 percent. What happens now? Do you still give the full amount, or do you take the profit on the premise that you only wanted to give a set amount in the first place? It’s a bit of a minefield of ethical and moral judgments, isn’t it?

As always, it is worth saying that we aren’t financial advisors and this is not financial advice. Please do your own research before investing in a cryptocurrency.

Enjoy the rest of your boxing day!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Gifting bitcoin, Will it one day become the new normal?
Sourced From: cryptodaily.co.uk/2020/12/gifting-bitcoin-will-it-one-day-become-the-new-normal
Published Date: Sat, 26 Dec 2020 18:04:48 +0000

DeFi Token 1inch Spikes 1000% in Christmas After Binance Listing

Yield farmers and DeFi token aficionados certainly had a merry Christmas thanks to 1inch, a relatively young and unknown token that in a matter of hours surpassed many other cryptocurrencies’ performance in the top 100 of cryptocurrencies with the largest market capitalization.

1inch is a decentralized exchange aggregator that sources liquidity from various exchanges, making it possible to use its smart contract to spread a single transaction across multiple decentralized exchanges.

The protocol is governed by a DAO. 1inch has been in development since 2019 and has received funding from Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, and Divergence Ventures.

Still, it wasn’t until Christmas of 2020 that it started to ring the bell for serious traders and crypto enthusiasts. The reason? a 1000% spike after being listed in Binance.

1inch: From ‘Meh’ to ‘Moon’ in Just 1 Hour

During the Christmas of 2020, Binance surprised the community with the announcement of support for 1inch. The tweet received more than 700 likes in a few hours, spreading through many corners all over Crypto Twitter.

When the token trading started, it went up by 1200%: from $0.2 to $2.60, and the daily trading volume exceeded $ 106 million. This rise of more than 1000% was undoubtedly the topic of conversation for DeFi fans during Christmas.

Even CZ himself was surprised, tweeting an amusing pun:

Damn, that looks a bit longer than 1Inch…@1inchExchange ? pic.twitter.com/o1NRAFnhhc

— CZ Binance (@cz_binance) December 25, 2020

After this major spike, the token experienced a correction, dropping to a low of $2.2 before a new rebound up to $2.9. After this, the token had another sharp drop all the way down to $1.8, where it seems to have found some stability, trading sideways between that level and $2.5 as key resistance.

Merry Christmas: DeFi Style

The 1inch team has been busy. Along with the listing, the protocol also airdropped tokens to all those traders who had used the platform before September 15th.

The airdrop was served to all those who had used the platform to make at least 4 trades or had traded at least $20. This gave a total of 55200 eligible addresses to claim the free 1inch tokens.

And while all of those users had yet another reason to thank Santa, one, in particular, should be dancing and singing carols right now, as they received 9,749,686,003 tokens worth $27.5 million at the maximum price of $2.8 per token.

This ERC-20 address which received such a large Christmas present is owned by a trader with strong activity on DeFi platforms such as Uniswap, Sushiswap, and some experimentation with NFTs.

Title: DeFi Token 1inch Spikes 1000% in Christmas After Binance Listing
Sourced From: cryptopotato.com/defi-token-1inch-spikes-1000-percent-binance-listing/
Published Date: Sat, 26 Dec 2020 18:04:29 +0000

Did you miss our previous article…

Bitcoin Sets New ATH Above $25,000: Bitcoin Dominance Eyes 70% (Market Watch).

Bitcoin’s Christmas continued with a bullish performance as the cryptocurrency has marked another all-time high – this time breaking above $25,000. Most altcoins have also added value, including Litecoin – a 15% surge for LTC has taken it to a new yearly high of about $130.

Bitcoin Paints A Fresh ATH Above $25K

After dumping to $22,700 on December 21st, just five days ago, BTC’s price performance has been quite impressive: The asset overcame $23K and $24K in the following days and, despite high fluctuations, averted serious price drops while the altcoin market was getting a beatdown.

In the past 24 hours, BTC doubled-down on its bullish performance. The cryptocurrency firstly jumped to $24,700, which became the new all-time high at the time, before initiating another remarkable leg up.

The second one resulted in tapping the coveted $25,000 level not long ago. Consequently, this became the new all-time high. Despite slightly retracing since then, bitcoin still trades around $24,800, as of writing these lines.

The technical indicators suggest that BTC has to overcome the psychological level at $25,000 decisively before potentially challenging the next resistance lines at $25,400 and $26,000.

If the trend reverses and bitcoin heads south for a correction, then $24,700 (prior high), $24,370, $24,000, and $22,700 might serve as initial support levels.

BTCUSD. Source: TradingView

New YTD Record For LTC: BTC.D At 70%

Most alternative coins have marked minor gains in their USD value; however, they continue to lose against the rising Bitcoin. The Bitcoin share over the crypto market, known as the Bitcoin Dominance, is on its way to 70%, which is a 1-year high. Even though new projects are emerging, Bitcoin’s ROI is beating most of them.

Ethereum has added 3% and has risen above $620. Bitcoin Cash (4%) sits at $315, Binance Coin (2%) trades at $33, Chainlink (3%) is close to $11.5, Polkadot (1%) is above $5.1, and Cardano (0.4%) is at $0.15.

Litecoin is the most impressive performer from the top 10 with a surge of 15%. As a result, LTC has marked a new yearly-high of nearly $130.

In contrast, Ripple’s native coin continues with high fluctuations after the SEC charges. XRP plummeted to $0.21 yesterday before suddenly skyrocketing to $0.37. Nevertheless, Bitstamp announced that the veteran exchange will halt XRP trading for its US customers, and the asset has tanked to $0.30 again.

Cryptocurrency Market Overview. Source: Quantify Crypto


Further gains are evident from THETA (10%), HedgeTrade (8%), CyberVein (8%), SwissBorg (7%), Monero (6%), ICON (6%), and Quant (6%).

The crypto market has added another $30 billion in a day and sits above $670 billion.

Title: Bitcoin Sets New ATH Above $25,000: Bitcoin Dominance Eyes 70% (Market Watch)
Sourced From: cryptopotato.com/bitcoin-sets-new-ath-above-25000-bitcoin-dominance-eyes-70-market-watch/
Published Date: Sat, 26 Dec 2020 18:04:25 +0000

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together