Day: February 21, 2020

Global Regulators Haven’t Properly Addressed Stablecoins

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Facebook’s plans to launch its cryptocurrency Libra this year has more than a few agencies in the European Union and the United States wondering what to do. While government bodies around the world are working to better understand crypto, regulations and laws pertaining to stablecoins aren’t being implemented quickly enough, according to a global finance watchdog. In a letter to finance ministers and central bank governors from the G-20 meeting in Riyadh this week, Financial Stability Board (FSB) Chair Randal Quarles voiced his concerns regarding how quickly digital currencies are…

Three Reasons Why Domino’s Pizza Stock Soared on Thursday

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Domino’s’ stock has been on a tear after a better-than-expected earnings result on Thursday. Investors are excited about the company’s earnings beat as well as its dividend hike and positive outlook for the future. Management will have to keep the good news coming if it wants this monster rally to continue. Shares in Domino’s Pizza (NYSE: DPZ) soared 25% to an all-time high of $381 before settling at $373 by the market close on Thursday. This monster rally took the market by surprise and gives the Michigan based pizza giant…

Juventus Soccer Club Offers Digital Trading Cards through Sorare

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The Italian soccer team Juventus has a number of traditional collectibles available for purchase by its fans, but this week it’s taking them into the digital age. The sports club announced on Feb 19. it would be offering digital trading cards of its players through the blockchain-enabled platform Sorare. By using Ethereum technology, Sorare will provide digital cards that soccer fans can collect and trade. The cards function like non-fungible tokens and will feature star players like forward Cristiano Ronaldo.  Used in conjunction with the platform’s fantasy soccer game, the…

Bitcoin Cash House Ghana Finds Liquidity Provider, Seeks to Partner With Mobile Money Services

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Bitcoin Cash House Ghana has announced they’ve found a liquidity provider for converting between BCH and Ghanaian cedi, and are now preparing to furnish their building and move in, preparing for official launch on March 1. A new read.cash post from organizer Kousha detailed the status of the project and also initiated a small fundraiser for internet setup which has already surpassed its goal as of Tuesday. BCH House Ghana was inspired by the already operational BCH House Venezuela. Also Read: Grassroots Bitcoin Cash House Movement Expands to Ghana Cash…

Do or Die for Bitcoin Bulls: Here’s A Crucial Breakout Zone For A Sharp Recovery

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Bitcoin managed to stay above the $9,350 support area against the US Dollar. BTC price is currently recovering, but it must surpass $9,825 for a strong upward move. Bitcoin price is currently correcting higher from the $9,350 support area against the US Dollar. There is a strong resistance waiting on the upside near the $9,825 level. Recently, there was a break above a contracting triangle with resistance near $9,665 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above $9,825 or it…

IOTA Urges Trinity Wallet Users to Use Seed Migration Tool

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Responsible for one of the top performing cryptocurrencies, IOTA is continuing to release new information in response to a Feb.12 hack on its official wallet.  According to a Feb. 19 status update, the IOTA Foundation strongly recommends users of the Trinity Wallet to immediately change their passwords and use the seed migration tool to protect their assets. Trinity users who opened or updated their wallets between December 17th, 2019 and February 18th, 2020 may be vulnerable. Trinity users – If you opened #Trinity between Dec 17th 2019 – Feb 18th…

Ripple (XRP) Trading Near Make-or-Break Levels, Can Bulls Break This?

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Ripple corrected lower sharply and broke the $0.3000 support area against the US Dollar. XRP is now trading near the key $0.2640 support and it must break $0.2900 for a fresh increase. Ripple price is currently consolidating above the key $0.2640 support area against the US dollar. Bitcoin is also trading in a range above the key $10,500 support area. There is a major bearish trend line forming with resistance near $0.2860 on the 4-hours chart of the XRP/USD pair (data source from Kraken). A clear break above $0.2900 and…

Ethereum Bulls Just Doesn’t Want To Give Up, Fresh Rally Incoming?

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Ethereum traded close to the $240 support area and recently recovered against the US Dollar. ETH price is now trading above $255 and it is likely to continue higher towards $270 and $275. Ethereum is slowly recovering above the $255 and $260 levels against the US Dollar. The price is facing a couple of key hurdles near the $265 and $270 levels. There was a break above a short term declining channel with resistance near $256 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is currently…

In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix

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Banco Central do Brasil has started testing a new payment network with the promise to offer Brazilians near instant transactions and many new services. Portrayed as a response to Bitcoin, the Pix system will be mandatory for major financial institutions to ensure wide coverage. The project aims to limit the use of paper money and plastic cards to reduce the costs of the national financial system. Also read: Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Out of Business Pix to Transfer Money Between Users Within Seconds Brazil’s new…

Bitcoin’s (BTC) Price Must Hold $9,500 as Support, or Else…

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Bitcoin hasn’t fared too well over the past day and a bit. After finding a local top at $10,300 on Wednesday morning, the price of the leading cryptocurrency fell off a cliff. Effectively literally. As covered by NewsBTC, the asset tanked from $10,300 to as low as $9,250 — a drop of just over 10% — in a few hours’ time, liquidating over $100 million worth of long and short positions on BitMEX in the process, catching traders with their pants down. Despite the fact that this move was extremely…