Global stock markets are tumbling today as fears of a second coronavirus (COVID-19) wave grow stronger. Reports have it that there’s a rising trend of new cases in the US and across the world, and this has evidently taken its toll on the economy as well. Equities Tumble Amid Fears of Coronavirus Reignition The World...Read More
The American multinational technology company Microsoft Corp. has launched a beta version of its open-source, decentralized identifiers (DIDs) network on Bitcoin’s mainnet. Called ION, it’s designed to bring back the control of personal information from centralized entities to individuals. Microsoft’s DID Employs Bitcoin’s Network The tech giant explained its decentralized identifiers as a technical component...Read More
The popular blockchain company for capital markets, tZERO, has recorded its strongest month in May 2020 as its alternative trading system (ATS) transacted over 400,000 digital securities. Interestingly, the stock price of the parent company Overstock has increased with over 9% since the announcement from tZERO. tZERO Continues Growing Overstock announced last month that it...Read More
Yesterday, an unusual transaction grabbed the community’s attention as someone paid 10,668 ETH (over $2.6 million) in fees, while the value it transmitted was only 0.55 ETH. Today, another transaction originating from the same wallet carried 350 ETH, and the fee was again – 10,668 ETH. The mining group that mined the block has urged...Read More
Quick recap: since May 7, 2020, which was a few days before the recent halving event, Bitcoin had been trying to breach the $10,000 benchmark level for several times. All of those ended up as failed attempts. The most serious attempt took place during the first day of June, as Bitcoin surged to the 2020...Read More
Six years on from the publication of its original whitepaper, Filecoin (FIL) has launched an incentivized testnet designed to test the network in realistic conditions. Aiming to build a decentralized file storage network, Filecoin carried out a $250 million ICO in 2017 – the largest Initial Coin Offering at the time. It was also the...Read More
The Bitcoin hash rate appears to be migrating west after the percentage of BTC mining taking place in the United States increased by 78%, leading into 2020. That’s according to the latest data from the Cambridge Center for Alternative Finance (CCAF), presented in a report by TokenInsight, which shows the US-based Bitcoin hash rate rose...Read More
XRP continues to trade sideways with a small 0.6% price drop this week. Ripple has been trapped within a descending triangle for the last five weeks. Against Bitcoin, XRP struggles to hold the 2070 SAT support as the sellers start to push to fresh multi-year lows. Key Support & Resistance Levels XRP/USD: Support: $0.2, $0.192,...Read More
Cardano exhausted buying pressure after marking a new yearly high near $0.092. It maintained the same trend across trading pairs as sellers slowly take over in the short-term. The price is currently down by 4%. ADA/USD: Cardano Eyeing $0.070 For Short-Term Correction Key Resistance Levels: $0.085, $0.088, $0.0917 Key Support Levels: $0.074, $0.0688, $0.0631 ADA/USD....Read More
Stablecoins are touted as a hedge against the high volatility in the cryptocurrency markets since they are pegged to a relatively stable asset or a basket of assets like fiats or precious metals. However, new findings reveal that some of these tokens have ties with illicit activities like Ponzi schemes. In its latest state of...Read More
Ethereum surged by a total of around 20% over the past two weeks, but it struggles to break $250. The cryptocurrency has been trading between $235 and $250 for the entire period of June. Against Bitcoin, Ethereum struggles to pass the resistance at 0.0253 BTC. Key Support & Resistance Levels ETH/USD: Support: $240, $235, $225....Read More
A recent transaction on Ethereum’s network saw someone pay 10,668 ETH in fees while the actual value of the transaction was 0.55 ETH. This isn’t the first instance of something like this happen as insane fees have been paid on several occasions in the past. $2.5 Million Worth of ETH Fees for a Single Transaction...Read More
A recent cryptocurrency scam running live on YouTube managed to dupe nearly $150,000 in Bitcoin from victims. Interestingly, the scam impersonated Elon Musk’s SpaceX channel and broadcasted recorded videos of the recent successful launch of two astronauts to the International Space Station. SpaceX And BTC Giveaway Scam Fraudsters are frequently attempting to dupe victims with...Read More
Global equity markets have had a spectacular run following the crash in mid-March. The S&P 500 has almost fully recovered, while Nasdaq is already charting new all-time highs. However, according to the CEO of the popular trading platform eToro, Yoni Assia, there’s a crash coming sooner than most expect it. Wall Street’s Impressive Rally At...Read More
Over the past days, while the equity markets are breaking records, Bitcoin is lagging. The indecisive state of mind the cryptocurrency is going through continues into this week. As can be seen in the following daily chart, the Bitcoin price is forming a symmetrical triangle (the two blue trend-lines), reaching the apex in 2-3 days...Read More
The Nasdaq Composite reached an ATH today, propelled mostly by large technology stocks, even while Bitcoin hovered below $10,000. NASDAQ HITS ALL-TIME HIGH! — Donald J. Trump (@realDonaldTrump) June 9, 2020 Nasdaq Erases Previous Losses Today, the Nasdaq erased Coronavirus losses to seize a new record with the index led by the likes of Apple,...Read More
A study compiled by the American multinational financial services corporation Fidelity Investments informed that a third of large institutional investors own a form of cryptocurrency. The highest level of interest came from Europe, followed by the US. Institutional Investors Choose Cryptocurrencies According to the report from Bloomberg citing the survey from Fidelity, 36% of all...Read More
Egypt’s economic growth in the third quarter (Q3) of the current fiscal year has displayed a lower number than projected following the COVID-19 pandemic. At the same time, data shows that the peer-to-peer Bitcoin volume in the country has registered a fresh all-time high. Egyptians Trade Bitcoin According to the information provided by the cryptocurrency...Read More
The price is currently up by 2.2% as bulls continued to gain control over the short-term. After gaining support around 45000 SAT, Link bounced back and charge towards last week’s high of 47267 SAT level. Link is now consolidating around $4.5 after rejecting $4.9 (February’s resistance) last week. LINK/USD: Link Remains Neutral Above $4 Key...Read More
Institutional investors have been wary of the cryptocurrency field, and one of the main arguments for that falls on the volatility of their price. It’s not unusual for a random altcoin to pop and surge 100% in a day without any evident reasons or based on a seemingly unimportant announcement. However, legacy markets don’t seem...Read More
ConsenSys, the blockchain software company headed by Etherem’s co-founder Joseph Lubin, plans to launch a compliance service focused on decentralized finance projects (DeFi) and cryptocurrency exchanges to analyze and track transactions utilizing the Ethereum network. ConsenSys To Launch A New Service According to a recent Bloomberg report, the new service coming from ConsenSys will primarily...Read More
The TRON Foundation is entering a new phase of its development with the upcoming launch of the fourth network version named TRON 4.0. Merely weeks before the project says goodbye to the current Odyssey consensus and welcomes the “Great Voyage era,” TRON will also celebrate its second “independence day” at the end of the month....Read More
The number of DAI locked up in the Ethereum based Aave lending protocol almost doubled, leading into June 8. Aave is a prominent protocol in Ethereum’s decentralized finance (DeFi) ecosystem. Users can lend cryptocurrency at stable or variable rates, earning daily payouts to the wallet of their choice. They can take advantage of uncollateralized, trustless...Read More
The controversy surrounding Binance’s acquisition of the leading cryptocurrency prices aggregator platform CoinMarketCap (CMC) has become more heated due to recent changes made by CMC. Following the update in CoinMarketCap’s exchange ranking algorithm, several major crypto exchanges were stripped of their high rankings to unimaginable positions on the market table. CoinMarketCap is the world’s leading...Read More
XRP saw a tiny 0.6% price increase today as it continues to trade within the descending triangle pattern. The cryptocurrency has been trapped within the triangle for the past five weeks of trading. Against Bitcoin, XRP continues to struggle as it trades at the 2-year low level. Key Support & Resistance Levels XRP/USD: Support: $0.192,...Read More
Tron reached $0.0185 ~ 192 SAT after gaining almost 30% in a month. It may reclaim yearly high if buyers continue to show commitment in the mid-term. The increase follows Justin Sun’s announcement about the upcoming TRON 4.0 launch in July. TRX/USD: Tron Faces March’s Resistance Key Resistance Levels: $0.0214, $0.0227, $0.0265 Key Support Levels:...Read More
Recent data indicates that Bitcoin transaction fees have been decreasing after the post-halving peak, while Ethereum fees are on the rise. As such, the total amount in fees spent on the Ethereum network has surpassed Bitcoin’s, and the gap continues to grow. The “Feepening” Ethereum Vs. Bitcoin According to information from the cryptocurrency data company...Read More
Yesterday, Bitcoin closed another weekly candle – the first week of June. During the past week, the price had gone through extreme volatility ($9100 – $10,500); however, there is good and bad news following the weekly close. The good news is that the weekly candle ended green while holding the long-term support at the ascending...Read More
Cryptocurrency derivatives trading volume reached a new monthly all-time high in May 2020, surpassing the previous record recorded in March, recent research indicates. Volumes on regulated exchanges such as CME soared as well for both futures and options trading. Crypto Derivatives Monthly Volume ATH According to the report by CryptoCompare, the monthly trading volume of...Read More
The most widely used US-based cryptocurrency exchange Coinbase went down during Bitcoin’s latest surge above the $10,000 mark. After a few days of discontent from the community, the company recently published a statement claiming that the unusually high traffic prompted technical difficulties. Traffic Brings Down Coinbase As CryptoPotato reported recently, the US-based exchange went offline...Read More
