Sunday Briefing: Muehloecker, Addamo, and Elias Among Big Winners

November 02, 2020Matthew Pitt

It was Halloween over the weekend and some of the prizes awarded in the biggest online poker events were nothing short of scary. Some of the world’s elite tournament grinders padded their bankrolls with substantial scores, here are some of the highlights.

Muehloecker Triumphs in High Rollers Blade Prime

Thomas Muehloecker took down the $5,250 High Rollers Blade Prime at GGPoker and secured the tournament’s only six-figure prize. As you’d expect from a tournament of such magnitude, the field was packed with the game’s superstars.

A handful of them reached the final table, including Elio Fox, Isaac Haxton, and recent WSOP bracelet winner Daniel Dvoress. The tournament eventually progressed to heads-up where Muehloecker locked horns with “RRomashka” who you may recall reached the final table of last week’s Super MILLION$. Muehloecker got the job done and walked away with a cool $100,985.

Place	Player	Country	Prize
1	Thomas Muehloecker	Austria	$100,985
2	RRomashka	Russia	$63,551
3	J Andersson	Austria	$48,080
4	Adrian Mateos	United Kingdom	$36,375
5	Daniel Dvoress	Canada	$27,519
6	Isaac Haxton	Canada	$20,819
7	Elio Fox	Mexico	$15,751
8	L Levinskas	Croatia	$11,916

Addamo Wins Yet Another Major Event

Michael Addamo

Michael Addamo secured a $70,336 prize and yet another major online title. The Australian superstar won the Bounty Grand Master HR $3,150, a Battle of Malta side event.

Exactly 100 players bought in and it was Addamo who emerged victoriously. After battling at the final table with the likes of David Peters, Dario Sammartino, and Artur Martirosian, Addamo found himself heads-up against Andras Nemeth; things don’t get any easier in these high stakes events! Addamo being Addamo managed to win his heads-up fight and walked away with a combined prize worth $70,336.

Place	Player	Country	Total Prize	Bounties
1	Michael Addamo	Canada	$70,336	$46,710
2	Andras Nemeth	Hungary	$32,384	$8,789
3	yoellalaska	Uruguay	$25,137	$5,625
4	Artur Martirosian	Russia	$20,907	$4,781
5	Julian Stuer	Poland	$21,858	$8,531
6	P Kolinkovskiy	Ukraine	$19,873	$8,859
7	Dario Sammartino	Austria	$13,321	$4,218
8	David Peters	Canada	$11,975	$4,453

Some of the other highlights from GGPoker’s events included:

• UknowConcoo – first-place in the High Roller MILLION$ for $275,594
• DerEinzahler – first-place in the GGMasters High Rollers $1,050 for $163,897
• wisechinese1 – first-place in the Global MILLION$ for $126,197
• Ori Hasson – first-place in the Kings of Tallinn Main Event for $109,892
• Pluto The Doggo – first-place in the High Rollers Blade Mulligan $5,250 for $99,358
• Sitting Outi – first-place in the GGMasters $150 for $76,719
• Darren Elias – first-place in the Sunday High Rollers $1,500 for $62,163
• SQDSR – first-place in the King’s Landing Opener for $60,518
• A Christoforou – first-place in the Bounty Hunters Malta HR $525 for $54,802*
• GROSZEK 5 – first-place in the High Rollers Marathon $840 for $50,679
• Dante Fernandes – first-place in the High Rollers PLO Bounty $2,100 for $50,189*
• Mr_3rdBullet – first-place in the Bounty Grand master $315 Side Event for $46,809*
• Bill Thunder – first-place in the PLO Crusaders HR $2,100 Side Event for $43,338
• shadinho94 – first-place in the Bounty Hunters Main Event $210 for $41,372*
• riverphoenix – first-place in the High Rollers Main Event $1,050 for $38,539
• FreshlyBaked – first-place in the Bounty Hunters Castle Siege HR $1,050 Side Event for $34,107*
• Pen15 – first-place in the Sunday Forty Stack $400 for $30,302
• 888pruha – first-place in the Let the Battle Begin $100 Side Event for $30,104
• Sebastian Sikorski – first-place in the Sunday Marathon $300 for $27,356
• Chris Klodnicki – first-place in the High Rollers Bounty Six Shooter $1,260 for $25,354*
• Dzmitry Urbanovich – first-place in the Sunday Main Event $200 for $24,556
• AKisgood – first-place in the Bounty Hunters Sunday Special $105 for $24,134*
• Pascal Hartmann – first-place in the Sunday Monster Stack $200 for $22,419

*includes bounty payments

It’s Official! WSOP Main Event at GGPoker Shatters Guinness World Records Title

Matthias Eibinger Wins The High Roller Big Game

Matthias Eibinger

A field of 138 of the world’s top players bought into the partypoker Big Game High Roller on Sunday and created a guarantee-busting $357,500 prize pool.

Adrian Mateos was the unfortunate soul who burst the money bubble, leaving the likes of Jeff Gross, Ole Schemion, Fabio Sperling, and Sebastian Sikorski to collect some prize money.

Everyone at the final table walk away with a five-figure prize for their $2,600 buy-in. Such luminaries as Francois Billard, Aliaksei Boika, and Juan Pardo Dominguez being among the first to fall at the final table.

Reigning MILLIONS Online champion Benjamin Chalot crashed out in fourth for $30,387 before Ireland’s Eugenio Peralta’s third-place exit left Matthias Eibinger and Mark Radoja heads-up. Eibinger doesn’t lose many one-on-one encounters so it was unsurprising to see him defeat Radoja.

First-place weighed in at $80,687 with the runner-up banking $58,086.0

Place	Player	Country	Prize
1	Matthias EIbinger	Austria	$80,687
2	Mark Radoja	Canada	$58,086
3	Eugenio Peralta	Ireland	$42,299
4	Benjamin Chalot	Hungary	$30,387
5	Juan Pardo Dominguez	United Kingdom	$21,450
6	Aliaksei Boika	Belarus	$16,981
7	MLuigi Andrea Shehadeh	Malta	$13,942
8	Francois Billard	Canada	$11,440

Check out these other partypoker results:

• layla – first-place in the $1,111 High Roller One Shot for $42,790
• Peter Jetten – first-place in the $530 Big Game for $41,136
• adddo19 – first-place in the $109 Weekender for $20,503*
• M13 SQUAD – first-place in the $320 The 300 for $20,225*
• runit1nce – first-place in the $215 Deepstack for $10,032
• Happy-AIA – first-place in the $777 Magnificent 777 for $19,779*
• LeBassie – first-place in the $111 The One Shot for $17,217
• Robson Oliveira – first-place in the $55 Mini Big Game for $16,982
• littlemouse – first-place in the $215 Warrior for $15,375*
• leNz_ – first-place in the $55 Gladiator for $13,272*

*includes bounties

Find Out How to Qualify for the partypoker Monster Series for Just $0.11!

Over at 888poker, the site’s two biggest Sunday tournaments were won by players from opposite sides of the world.

New Zealand’s “ImPaulin” fired two bullets in the $25,000 Sunday Challenge PKO and turned that second $109 buy-in into a total prize worth $6,025.

Brazil’s Romulo “Dred_Rednose” Barreto took down the $100,000 Mega Deep, which missed it’s guarantee, again, by 97 $109 entries. The Brazilian champion wasn’t bothered about this because they got their hands on the $18,750 top prize.

RUMUKULUS Wins Largest Prize at PokerStars

Lex Veldhuis finished seventh for $10,753

Germany’s “RUMUKULUS” was the biggest winner at PokerStars this weekend courtesy of being the last player standing in the $1,050 Sunday High Roller. A field of 323 entrants created a $323,000 prize pool that the top 39 finishers shared.

RUMUKULUS had a tough time at the final table, as would you if you were seated with the eight others who reached it. Team PokerStars Pro Lex “L.Veldhuis” Veldhuis’ exit in seventh-place made the waters less shark-infested, however.

Gary “quiditbear” Hasson and Dominik “Bounatirou” Nitsche and Juan “Malaka$tyle” Pardo fell after Veldhuis, the latter in third-place for $34,114.

Denmark’s “JackRipperJr” busted in second-place and got their hands on the $45,530 consolation prize, leaving RUMUKULUS to net the $60,764 top prize and the title of champion.

Place	Player	Country	Prize
1	RUMUKULUS	Germany	$60,764
2	JackRipperJr	Denmark	$45,530
3	Juan “Malaka$tyle” Pardo	United Kingdom	$34,114
4	Dominik “Bounatirou” Nitsche	United Kingdom	$25,561
5	Gary “quiditbear” Hasson	Belgium	$19,153
6	DuTTiFruTTi9	United Kingdom	$14,351
7	Lex “L.Veldhuis” Veldhuis	Netherlands	$10,753
8	P0KERPR02.0	Germany	$8,057
9	Riverovic	Slovakia	$6,755

These were the other notable victories at PokerStars this weekend:

• daltonhb – first-place in the $107.50 Half Price Sunday Warm-Up for $46,322
• Romulo “Dred_Rednose” Barreto – first-place in the $215 Bounty Builder for $33,102*
• Gogsi04 – first-place in the $109 Bounty Builder for $27,804*
• gardze_wami – first-place in the $215 Bounty Builder for $25,427*
• PaPi7o92 – first-place in the $107.50 Half Price Sunday Supersonic for $25,020
• Sergio “zcedrick” Aido – first-place in the $1,050 Sunday Cooldown for $24,980*
• Sintoras – first-place in the $1,050 Sunday Supersonic for $22,855
• P0KERPR02.0 – first-place in the $1,050 Sunday Warm-Up for $13,301
• Viktor “papan9_p$” Ustimov – first-place in the $215 Fat Sunday for $12,703

_{The Stars Group is a majority shareholder in Oddschecker Global Media, the parent company of PokerNews.}

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/sunday-briefing-muehloecker-addamo-and-elias-among-big-winners/

Ethereum Active Supply Hits 17-Month Low; How Does It Impact Price?

The active supply of Ethereum (ETH), measured on a 6-12 month timeframe, has dipped to its 17-month low.

Data fetched by Glassnode shows that there are now over 15.1 million ETH available for accumulation even as the demand for the cryptocurrency grows ahead of its much-awaited protocol migration to proof-of-stake. At its periodic high, the active supply was almost near 40 million.

Ethereum Total Supply Last Active 6m-12m: Source: Glassnode Studios

In retrospect, the metric above underlines the amount of circulating supply last moved between 6 months and 12 months.

HODL

A dropping figure shows an increasing amount of “HODLING” behavior among Ethereum investors/traders. Meanwhile, if the demand for Ethereum grows higher during the period of dipping, the cryptocurrency’s price occasionally moves north, as shown in the chart above.

Glassnode fetches the demand-side data from a different chart, known as HODL Waves. The unique metric reflects the rate at which traders/investors are holding Ethereum. An increase in the figure means a dismissive selling sentiment over the long-term. Else, a strong bearish bias altogether.

Each colored band shows the percentage of Ethereum in existence that was last moved within the time period denoted in the legend. Source: Glassnode

The data suggests that many investors accumulated Ethereum tokens in 2019. It now amounts to more than half of the cryptocurrency’s existing supply that has not changed hands in the last 12 months. It further points to less available stock in the days leading to Ethereum proof-of-stake this year.

“With the ETH2 phase 0 approach, it’ll be interesting to see how much this percentage comes down by as Ethereum OG’s move their stash into staking,” said Anthony Sassano, the co-founder of EthHub. “I’m particularly curious to see if any of the coins in the 5+ years category move.”

Ethereum Price Outlook

On the supply-side alone, the prospects of Ethereum hitting a new yearly peak is higher. As more and more tokens go out of circulation, and its demand among the looming traders/investors grow – partially as they use ETH for staking or hold it as a hedge against inflation – the ETH/USD could rise further.

Ethereum holding the ascending trendline as support in its 2020 rally. Source: ETHUSD on TradingView.com

So far, Ethereum has played the narratives in favor of bulls. The cryptocurrency is up 328 percent from its mid-March low – and with the same fundamentals around, it may head even further higher into the year.

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/ethereum-active-supply-hits-17-month-low-how-does-it-impact-price/

3 reasons Bitcoin dropped 2% in just 1 hour

The price of Bitcoin (BTC) declined by 2% in under an hour in a sharp correction on Nov. 2, catching traders off guard. Coincidentally, the CME Bitcoin futures market opened with a new gap, making $13,100 an area of interest for sellers.

Three technicals reasons likely fueled the abrupt decline in the price of Bitcoin: CME gap, major resistance and monthly moving averages (MAs).

There are now four CME Bitcoin futures gaps

The CME Bitcoin futures market closes during the weekend and on holidays. This means that if BTC sees a large price movement during those days, a gap between CME and cryptocurrency exchanges emerges.

While there is no comprehensive theory as to why traders move to fill CME futures gaps, historically, most CME Bitcoin gaps have filled.

Since October, Bitcoin has seen a strong rally. During the weekend, the volume of BTC tends to drop as the market becomes less active. But in the case of the last several months, BTC has continuously moved upward without a dip in volume.

Consequently, this led to the formation of four CME gaps in a row. Every weekly candle in the past month led to a new CME gap, which is rare for Bitcoin. It means that BTC has moved so fast even during the weekends that new consecutive gaps have been formed.

Bitcoin CME gaps on price chart. Source: Zack Voell, TradingView.com

The gaps are found at $13,100, $12,970, $11,505, and $11,100. These areas could be considered levels of interest for sellers. Coincidentally, the $12,970 to $13,100 range is an important area in terms of moving averages.

The next short-term Bitcoin monthly MA is below $12,500

On the monthly chart of Bitcoin, the next short-term moving average is the 5-day moving average at $12,203. Throughout history, even during bull markets, at least one short-term moving average on the monthly chart was hit before the continuation of a rally.

Bitcoin has rallied quickly since early October, rising by more than 25% from $11.775 to $13,500. The pace of the uptrend meant BTC was not able to establish clear support levels on higher time frame charts.

In the past two months, Bitcoin has repeated the pattern of rallying followed by a short period of consolidating. On the daily chart, this created clear support and resistance levels, making the rally sustainable compared to previous ones.

The monthly price chart of Bitcoin. Source: TradingView.com

On the weekly and monthly chart, however, Bitcoin is still far from notable short-term moving averages. The closest MA is the 5-day MA at around $12,200.

BTC comes off a major resistance level

Bitcoin tested the $14,000 resistance level on Oct. 31 for the first time since December 2017. After such a major rally and a key retest, a sharp pullback was expected.

Some traders said they were surprised by the intensity of the Bitcoin price drop when it occurred. But, when they saw the high open interest of the futures market, the traders said the move made more sense.

“Once in a while I’m actually surprised by a move,” a pseudonymous trader known as CL said. Later on, CL added that the open interest was high enough to justify such a move. “Actually nvm, I miss read how much open interest was rising earlier, this makes sense.”

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/3-reasons-bitcoin-dropped-2-in-just-1-hour/

We Take a Look at the Polk vs. Negreanu Betting Odds

November 02, 2020Will Shillibier

With Daniel Negreanu confirming that his heads-up match against Doug Polk will commence this week on November 4th, we take a look at the betting markets available on PokerShares to see if any would be worth wagering on.

The site currently has 14 separate markets relating to the match, and here PokerNews runs through some of the more interesting ones.

About PokerShares

First set up in 2017, PokerShares has given players the opportunity to bet on all manner of markets, both inside the world of poker and out.

From the Aussie Millions and the Galfond Challenge to the US Election and how many cases of coronavirus there will be in the US (although the latter was ultimately pulled after ten hours due to “negative feedback on social media and reconsideration“.)

PokerShares founder Mike “Timex” McDonald said that they wanted to make the challenge as engaging as possible for viewers, therefore offering more than just the normal bets on how the market plays out.

Therefore players are able to place bets on anything from “Will Doug return to professional poker?” to “Will there be any slowrolling?”

The Main Markets

McDonald says that PokerShares opened the markets “very early” within only a few minutes of the pair challenging each other to the match.

“The odds started out as even,” said McDonald. “I believe 1.93 on each player as we were only going by details on Twitter and didn’t even know the format of the match.”

However, at time of publication (November 2nd), Doug Polk has moved ahead as a strong favorite to win the match according to the odds:

Doug Polk vs Daniel Negreanu

Player	Decimal	American	Fractional
Daniel Negreanu	5.40	+440	22/5
Doug Polk	1.17	-588	7/41

Other Markets

There are several markets relating to the first session, scheduled to take place live on PokerGO on November 4th. These include whether a player will slowroll during Session 1 (No +105, Yes -128), the size of the biggest pot (Over $100k +105, Under $100k -128) and who will get stacked first (Polk +100, Negreanu -116).

Other markets relate to the potential fallout from the match including:

• Will Doug Polk return to being a pro player after this challenge? (Yes +660, No -1000)
• Will Daniel Negreanu cease to be a poker player because of this challenge? (Yes +1400, No -5000)
• What date will the challenge conclude? (February 1st 2021 or later +105, January 31st 2021 or earlier -128)

_{Odds correct at time of publication – 2nd November 2020}

Timex Tells All

McDonald told PokerNews that he thinks the match has the potential to be “the most exciting grudge match poker has ever seen.”

“What makes the challenge especially exciting, is that Daniel decided he wanted to beat Doug at his own game. Originally we expected them to each pick their best game and rotate what they play.

“…the most exciting grudge match poker has ever seen”

“On one hand, you’ve got Doug, once the clear number one Heads-Up No Limit (HUNL) player in the world, but he’s four years removed from competitive play.

“On the other hand, you’ve got Daniel. Not a heads-up specialist but the most famous and among the most successful all-around poker players of all time.”

McDonald says that there has been an interesting dynamic when it comes to those betting on either Negreanu or Polk.

“Generally the guys betting on Doug have never played live, and the guys betting on Daniel have never played online! It’s an interesting dynamic where I think online players tend to estimate Daniel, and live players tend to underestimate Doug.”

However, he went on to say that PokerShares has seen “shockingly little” volume from any of the players who have substantial experience playing with both.

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/we-take-a-look-at-the-polk-vs-negreanu-betting-odds/

Ethereum Expected to Gain Further Strength as Price Taps $400

Ethereum has finally begun to push higher as Bitcoin has consolidated in the high-$13,000s. The price of the leading altcoin recently hit $400, the highest price in a number of days despite BTC pushing to new year-to-date highs.

Ethereum currently trades slightly below $400 having undergone a slight retracement after tapping that pivotal technical level. In the past 24 hours, ETH is up 3%, making it one of the best performing digital assets in the top 20 by market capitalization.

Analysts think that the cryptocurrency could move even higher in the days and weeks ahead. ETH reclaiming the high-$300s as support will be important for the bull case moving forward.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Analysts Think Ethereum Continues Higher

Analysts are responding positively to this latest price action.

One trader shared the chart below, noting that Ethereum’s recent price action has been important for two reasons: ETH has held $370 and it has recently crossed above the $395 technical resistance. Simple analysis indicates that the cryptocurrency will move toward $412 from here, which will trigger an even greater rally if that level is beaten by bulls.

Chart of ETH's price action over the past few weeks with analysis by crypto trader Chase NL (@Chase_NL on Twitter).
Source: ETHUSD from TradingView.com

Other analysts have echoed this optimism, largely pointing to the chart of Ethereum’s price action against Bitcoin. The chart shows that the trading pair has reached an important bullish turning point. Should Bitcoin hold here or even push higher, the ETH/BTC pair rallying will mean Ethereum surges massively against the U.S. dollar.

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

Bitcoin Drop Could Put Stop to ETH Recovery

Despite the technical case that Ethereum may tout, there are some that fear Bitcoin could soon drop. Such a correction would put a stop to a recovery in the price of ETH.

On Bitcoin’s recent price action, one analyst said that there are at least four key reasons why a correction is more likely than a move past $14,000. They are as follows:

• BTC has failed to pass the $14,000 resistance despite pushing above that level on Saturday
• The stock market is weak, which is compressing risk-on behavior in this market
• The election could result in weakness in risk-on markets
• The U.S. Dollar Index is expected to bounce as it has neared a pivotal support

Should Bitcoin drop, Ethereum is unlikely to rally. In fact, some fear that altcoins may strongly underperform Bitcoin on a move lower.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Featured Image from Shutterstock
Price tags: ethusd, ethbtc, eth
Charts from TradingView.com
Ethereum Expected to Gain Further Strength as Price Taps $400

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/ethereum-expected-to-gain-further-strength-as-price-taps-400/

Ripple (XRP) Holds Strong, Bulls Could Aim Fresh Test of $0.25

Ripple found support near $0.2320 and recovered higher above $0.2380 against the US Dollar. XRP price is consolidating gains and it could rally towards $0.2500.

• Ripple recovered nicely above the $0.2350 and $0.2380 resistance levels against the US dollar.
• The price is now trading above the $0.2400 resistance and the 100 hourly simple moving average.
• There was a break above a key bearish trend line with resistance near $0.2400 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair is likely to continue higher if it clears the $0.2420 resistance zone.

Ripple Price is Showing Positive Signs

This past week, we saw a sharp decline in ripple below the $0.2400 support area. XRP price even broke the $0.2350 support and the 100 hourly simple moving average. It traded as low as $0.2310 and recently started a solid recovery wave.

There was a break above the $0.2350 and $0.2380 resistance levels. The price even climbed above the 50% Fib retracement level of the downward move from the $0.2472 high to $0.2310 low.

More importantly, there was a break above a key bearish trend line with resistance near $0.2400 on the hourly chart of the XRP/USD pair. The price is now trading above the $0.2400 resistance and the 100 hourly simple moving average.

Source: XRPUSD on TradingView.com

An initial hurdle on the upside is near the $0.2420 level. The next resistance is near the 76.4% Fib retracement level of the downward move from the $0.2472 high to $0.2310 low. If there is a clear break above the $0.2420 and $0.2450 resistance levels, there is a risk of more upsides towards the $0.2480 and $0.2500 resistance levels.

Key Supports For XRP

The first key support for ripple is near the $0.2400 level and the broken trend line. The next key support is forming near the $0.2380 zone.

A successful break below the $0.2380 support level could put a lot of pressure on the bulls. In the stated case, the price may possibly revisit the $0.2320 support zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently riding and it is above the 50 level.

Major Support Levels – $0.2400, $0.2380 and $0.2320.

Major Resistance Levels – $0.2420, $0.2450 and $0.2500.

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/ripple-xrp-holds-strong-bulls-could-aim-fresh-test-of-0-25/

Despite 50% Drop From $20 Highs, Chainlink Whales Remain Bullish

Chainlink (LINK) has undergone a strong rally since the lows set in September. The price of the leading cryptocurrency currently trades for $11.50. LINK is up 3% in the past 24 hours, outperforming Bitcoin, XRP, Binance Coin, and a series of other top altcoins.

Even still, LINK is trading just under 50% below its all-time high above $20. On-chain data shows that investors in Chainlink remain extremely bullish, as they are accumulating the coin en-masse.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Chainlink (LINK) Investors Bullish, On-Chain Data Shows

According to blockchain analytics firm Santiment, a blockchain data and analytics firm, the leading cryptocurrency is still being accumulated en-masse.

The firm noted on October 30th that Chainlink’s top 100 non-exchange/contract addresses have accumulated 34.32 million LINK over the past year alone. This number has begun to taper off slightly but is still up massively over recent months.

“If this isn’t the depiction of steady accumulation for #Chainlink’s top 100 non-exchange whales in the past year, we don’t know what is. $LINK’s offline increase in tokens at this rate truly shows confidence in the asset from those with most at stake.”

If this isn’t the depiction of steady accumulation for #Chainlink‘s top 100 non-exchange whales in the past year, we don’t know what is. $LINK‘s offline increase in tokens at this rate truly shows confidence in the asset from those with most at stake. https://t.co/8we3ZGkAy9 pic.twitter.com/0aUYFvklSC

— Santiment (@santimentfeed) October 31, 2020

Chainlink is still down 5% in the past week, though, following a majority of other altcoins. Bitcoin’s rapid ascent has left many altcoins stranded as all capital and attention is focused on the leading cryptocurrency.

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

New Products and Partnerships

Chainlink’s Verifiable Random Function (VRF) product has seen a number of integrations over recent weeks. VRF is a “provably-fair and verifiable source of randomness designed for smart contracts” that allows developers to bypass sometimes questionable oracles that service lottery-based or randomized smart contract systems. Chainlink VRF was recently integrated into PoolTogether, a “no-loss” DeFi lottery system built on Ethereum.

Also, Genesis Volatility, a premier crypto derivatives data provider, has begun to run its own Chainlink node. Announcing this move, the Chainlink team wrote:

“Crypto-derivatives data provider  @GenesisVol is running its own #Chainlink node to sell their signed data directly to smart contracts. #DeFi now has access to signed data on volatility, open interest, volume & more when creating derivatives products.”

LINK is likely to follow Bitcoin’s overall trajectory in the weeks ahead. If Bitcoin continues to push higher, the cryptocurrency may continue to consolidate or even push higher.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Despite 50% Drop From $20 Highs, Chainlink Whales Remain Bullish

Credit: Source link

source https://cryptonews.wealthsharingsystems.com/2020/11/despite-50-drop-from-20-highs-chainlink-whales-remain-bullish/