Archive for  February 2021

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Today, Harvest Finance yield aggregator and Value DeFi multi-service platform, two Ethereum-native decentralized finance (DeFi) protocols accounted for approximately $1 billion in total value locked between them, revealed proposed extensions to Binance Smart Chain, the crypto exchange giant Binance’s smart contract platform.

In a comment to Cointelegraph, Harvest, which is one of the biggest yield aggregators and currently boasts over 830 million in overall locked valuation, said that the protocol is looking to recruit two developers to bring Harvest to BSC.

“At Harvest Finance we think this is an opportunity to show that “cross chain” yield farming is not only possible, it will be one of the next major milestones for the yield farming ecosystem,” said Harvest community moderator Red.

The price of Bitcoin (BTC) burst through the critical mark at $40,500 as news reports Tesla added $1.5 billion in Bitcoin to its balance sheet. This news event moved the market to fresh all-time highs, bringing $50,000 at the next big level of resistance.

The 4-hour chart shows an apparent breakthrough of the $40,500, which was crucial for more upside as the Tesla news resulted in the biggest daily green candle ever for Bitcoin.

The next level of interest, as the charts showing, is the psychological barrier of about $50,000. It’s the next big Fibonacci standard as well. The 1.618 Fibonacci level is also used to estimate price discovery speeds as a key predictor.

Another important level to watch for Bitcoin is the order block around the $43,300-$43,700 area. Continuation to the upside is likely as long as that area holds.

In the middle of a major boom in the crypto industry, Russia has recently imported thousands of crypto-currency mining devices.

A senior executive at BitRiver, Russia’s largest provider of crypto mining colocation services, reported that over 20,000 crypto mining devices were obtained by a local customer, reports Russian news agency Kommersant Feb. 10.

Igor Runets, founder and CEO of BitRiver, said the overall mining capacity of the imported hardware is 70 MWh, which is allegedly expected to make up Russia’s biggest single batch of crypto mining hardware. Runets said that the hardware was delivered in December 2020 and was immediately set up for Bitcoin (BTC) mining in Bratsk — a city in Russia that has one of the country’s largest hydropower stations.


Since newcomer Polkadot (DOT) overtook its market cap in a continuing altcoin shake-up, XRP momentarily lost its top-three altcoin spot on Feb. 9.

Cointelegraph Markets and CoinMarketCap data confirms that XRP is only narrowly hanging on to the fifth-largest position for cryptocurrencies and could exit the top five entirely soon.

The new order among large cap altcoins comes as a new “altseason” hits the market, with investors’ chosen targets differing considerably from the last in early 2018.

Among the victims is Bitcoin Cash (BCH), which this week was excluded from the top ten altcoins because of Stellar (XLM) and Dogecoin (DOGE), as Cointelegraph stated.

In the case of XRP, the losses could have been worse. Trading at $0.46 at the time of writing, the token previously traded as low as $0.16 amid legal problems at major shareholder Ripple.

The legend of Hedge Fund Bill Miller exhibits an even stronger appetite for Bitcoin (BTC). The Miller Opportunity Trust is seeking indirect exposure to BTC through the Grayscale Bitcoin Trust, according to a Friday filing with the United States Securities and Exchange Commission.

The planned investment is coming at a time when the GBTC premium is at its lowest level since April 2019.

If the purchase of GBTC securities is pulled in, it will represent a major departure for the $2.25 billion fund from the normal investment in equities and derivatives. Indeed, the trust’s website lists airlines, healthcare and finance as the subject of its key investment role.

Miller is a noted Bitcoin proponent himself. The legendary Wall Street trader committed 30 percent of his hedge fund into Bitcoin back in 2016. Since then, with the BTC game, this proportion has risen to over 50 percent, leading to significant growth in the value of the Miller hedge fund.

As Bitcoin (BTC) and Ether (ETH) rates exchanged sideways for the day, some DeFi tokens saw their prices breakout on Feb. 4. Strong remarks from big-name investors promoting the advantages of blockchain technology and DeFi seem to elevate sentiment around the market, aside from the general bullish theme permeating the DeFi sector.

Currently, Bitcoin price is still struggling to reclaim the $38,000 level and according to Cointelegraph analyst Marcel Pechman, top traders may have added to their short positions as BTC rallied toward $38,000 on Feb. 3.

Elon Musk made waves again as his “DOGE” tweet resulted in a sharp volume spike which sent Dogecoin (DOGE) into a 48% rally to $0.054. XRP price also broke out, rallying 12.45% to a daily high at $0.4365.

According to an expert at the global financial publication, Bitcoin (BTC) is expected to reach $ 60,000 in 2021 in the midst of rising mass acceptance.

In the first half of 2021, Jesse Cohen, a senior financial analyst at, estimated that Bitcoin will definitely hit a level of $60,000.

Cohen’s claims come in accordance with’s latest crypto-related poll, according to which 63 percent of respondents in the UK are planning to buy a Bitcoin in 2021. More than 60% of the 800 respondents have said they expect that in 2021, Bitcoin would climb above $60,000.

Despite growing confidence about Bitcoin’s rally in 2021, there are many concerns about the surrounding regulatory climate. “With Bitcoin moving into the mainstream and capturing greater attention, it will likely draw further scrutiny from regulators in the United States, Europe and Asia,” Cohen said.

Data from statistical resources Alexa and Similarweb reveals that Coinbase is currently among the top 1,000 most popular websites in the world.

As BTC/USD circles all-time highs, its run to $42,000 in January appears to have sparked a tsunami of new user engagement with some of the most popular cryptocurrency trading platforms.

In the U.S., the focal point of institutional inflows into Bitcoin in recent months, exchanges Gemini, Kraken and Binance U.S. are all part of the top 10,000 global sites.

Though Binance only beats Coinbase in terms of worldwide visitors, the latter dominates the domestic market, ranking 386th among U.S. internet users. The data relates to December 2020, with the crypto rush expected to boost the popularity of hiking exchanges even further at the start of this year.

With more than 22.3 million unique addresses actively sending or receiving BTC over 31 days, January was a milestone month for the price and network operation of Bitcoin.

Crypto business data aggregator Glassnode spotted the milestone, tweeting that January had seen the largest monthly number of unique active addresses in the history of Bitcoin.

The spike in activity in January beats the previous high of more than 21 million December 2017 active addresses. The number of unique addresses that connect with Bitcoin has not dropped below 10 million a month since 2017.

Despite the increase in unique active wallets, Glassnode also noted the number of “active entities” on the Bitcoin network has decreased significantly since spiking into new highs in early January.

Hashmasks, a new non-fungible token project has raised over 7,600 ETH (about $10 million) from the sale of more than 15,300 digital collectible cards.

For around 97 Ether (ETH), the owner of Hashmasks #1 sold his card named after former U.S. President Donald Trump, which at the present Ether price amounts to about $126,000.

According to the compilation schedule on the project’s website, Hashmasks #1 was purchased for 0.1 ETH, which indicates that the original collector received a return of 96,900 percent on the initial expenditure.