Day: November 26, 2019

Telegram Founder Pavel Durov to Give Deposition in Gram Token Case

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In the latest chapter of Telegram’s legal battle with the United States Securities and Exchange Commission (SEC), the firm’s founder Pavel Durov will give a deposition along with two Telegram employees.  On Nov. 25, District Judge P. Kevin Castel of the New York Southern District Court ruled that the deposition will take place on Jan. 7 or 8, 2020, at a location agreed upon by the relevant parties. Ilya Perekopsky, vice-president of Telegram, will testify as well. Perekopsky’s deposition is set for Dec. 16, 2019.  The deposition of Shyam Parekh,…

Litecoin Price Technical Analysis (Nov. 26): No Signal of a Positive Breakout

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The chart below indicates that we can see that the Litecoin (LTC)trade price is trading at $46.92, while it can also be observed to be trading within the channel. The upper limit at $47.72 is acting as resistance and the lower limit at $45.54 is acting as support. It is suggested to use strict stoploss while trading as the support level is weak. Dow Theory One of the largest digital currencies LTC is currently appearing in the accumulation phase. This is the phase when the knowledgeable and informed investors are…

MATIC Up 100% in 10 Days — Why Are Binance IEOs Starting to Pump?

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As everybody focuses on the recent price action of Bitcoin (BTC), some other cryptocurrencies are deciding to break out of their long term downtrend. Notably, Initial Exchange Offerings (IEOs) and Binance IEOs, in particular.  Crypto market data. Source: Coin360 IEOs are similar to ICOs except that they are immediately launched on an exchange. The phenomenon started to gain attention at the beginning of 2019 through the launch of the Binance Launchpad.  Matic Network biggest performer  MATIC BTC 12-hour chart. Source: TradingView One of these IEO’s is called Matic Network (MATIC),…

Bitmain-Backed Cryptocurrency Startup Matrixport to Open Zurich Office

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Matrixport, a Singapore-based crypto startup launched by former Bitmain CEO Jihan Wu, will expand its services from Asia to Europe through its new Zurich office. Registered under the name of Chaintech in Switzerland, Matrixport will begin offering its trading, lending and custody services in the country, Swiss-centred publication swissinfo.ch reports on Nov. 26. The European expansion news comes less than five months after Wu launched Matrixport in July to offer over-the-counter trading, lending and custody services for crypto. The firm hired dozens of former Bitmain staff that were laid off…

Best Time to Accumulate Gold and Bitcoin, Says Crescat Capital Analyst

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Although the stock market has been hitting new highs, analysts have warned investors to stay cautious during these times. Otavio Costa, an analyst at Crescat Capital said that it is the ideal time for investors to buy and accumulate gold. In an in-depth analysis, Costa explained that the Treasury Yield Curve spreads have moved past the critical 70% threshold. Citing historical patterns, Costa advises investors to liquidate their stocks and instead buy gold for the next two years. History says… When the yield curve first inverts by >70%, buy gold…

Uncertainty Looms as Bitcoin Records near Term Bullish Momentum to $7,400

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Normally, this ongoing drop in prices, which comes only a month after a 42% expansion in a day, pushed the bulls to their limit. An eminent Twitter trader, Bitlord, said he had left the Bitcoin business due to the ongoing tumult in the market, denoting an indication of capitulation. Over the past day, the Bitcoin bulls have finally been granted a reprieve, with the BTC going from a weekly minimum of $6,526 to $7,378.13, which represents a massive increase of more than 10%. With this reprieve coming after nearly a…

Pressure pushes Bitcoin below US$7,000 as clampdown by China’s central bank spooks cryptocurrency traders

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A rally triggered by a wrongly translated message on President Xi Jinping’s support for blockchain has been wiped out, as the People’s Bank of China continues to come down hard on cryptocurrencies Bitcoin recovers some lost ground, but some see it sinking further. Bitcoin’s recovery is expected to be short-lived as the cryptocurrency is expected to trend lower to the US$6,500 mark by the end of this year, analysts said. On Tuesday, the world’s biggest cryptocurrency rose 4.8 per cent to US$7,187 after falling below the US$7,000 level to a…

Red Cross Deploys Blockchain to Boost Communities’ Economic Resilience

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Three national units of the Red Cross — the largest humanitarian donor after the United Nations — are backing a blockchain-based currency scheme to enhance aid delivery and boost local economies. According to a report from the Thomas Reuters Foundation on Nov. 26, the Red Cross societies of Norway, Denmark and Kenya have launched a two-year plan to replace cash and voucher provision in aid and development efforts with blockchain-backed “local currencies.” Plans to onboard 320,000 users As the report outlines, the Red Cross currently distributes $1 billion annually as…

Gold and Silver Follow Similar Trend to Bitcoin, React to News About China

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With crypto prices moving after almost every positive or negative bit of news related to China, gold and silver markets have been reacting to such events as well. With some exceptions, the overall trend in their value has been negative since September. The prospects of both digital coins and precious metals seem to be more and more dependent on China’s growing influence. Also read: When Bitcoin Overtakes Gold – How High Can It Go? Prices of Precious Metals Decline Since September Gold and silver have had a hard time recently,…