Day: March 18, 2020

$50M ‘Blockchain for India’ Fund for Indian Startup Ecosystem Announced by Binance

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Sharing is caring! The world’s largest cryptocurrency exchange Binance has teamed up with their subsidiary exchange in India – WazirX, to announce a joint initiative $50 million (backed by BNB, BUSD, and WRX digital assets)  “Blockchain for India” (BFI) fund to support the development and growth of blockchain startups in India.  “Let’s invest in India,” said Binance CEO and Founder Changpeng Zhao (‘CZ’). ~ advertisement ~ The funds are meant to incubate and invest in blockchain projects and startups focused on solving industrial and social problems through the use of…

Crypto Lending Firm BlockFi Raising Interest Rates on BTC and ETH

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Clients of one crypto lending company may soon notice some changes in response to the recent drops in the market.  Starting on April 1, BlockFi will be raising the interest account rates on Bitcoin (BTC) and Ether (ETH).  According to CEO Zac Prince, BlockFi users holding between 0-5 BTC now will earn a 6% annual percentage yield (APY), while those with up to 500 ETH will earn a 4.5% APY. Stablecoins like the Gemini Dollar (GUSD) and USD Coin (USDC), will retain their 8.6% APY interest rates. Why are the…

Here’s Why Bitcoin Bears Must Wait for $6K Considering A Correction Is Due

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Bitcoin is showing signs of a decent recovery above $5,000 against the US Dollar. BTC price could recover further towards the $6,000 resistance, where the bears are likely to take a stand. Bitcoin is slowly rising and it is trading nicely above $5,200 against the US Dollar. A break above $5,600 is likely to lead the price towards the $6,000 resistance. There is a short term contracting triangle forming with resistance near $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could test the…

Here’s Why Bitcoin Bears Must Wait for $6K Considering A Correction Is Due

boss

Bitcoin is showing signs of a decent recovery above $5,000 against the US Dollar. BTC price could recover further towards the $6,000 resistance, where the bears are likely to take a stand. Bitcoin is slowly rising and it is trading nicely above $5,200 against the US Dollar. A break above $5,600 is likely to lead the price towards the $6,000 resistance. There is a short term contracting triangle forming with resistance near $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could test the…

PegNet Has Moved $500M Through Its Network Since Launch

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Today stablecoin network PegNet cleared $500 million dollars in conversions, according to data from PegNetMarketCap.com. This means a half-billion dollars in value has moved over the platform’s rails since it launched in August 2019. PegNet is a decentralized non-custodial network of tokens that are pegged to different world currencies and assets, including gold, the euro, and the US dollar. PegNet maintains the auditable, non-custodial network that allows for transferring value and simplifying the conversion process from one asset to another. The platform runs on top of Factom, an unalterable record-keeping…

Ethereum Is Trading Near Crucial Resistance, Are Bulls Ready For A Surge?

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Ethereum is slowly recovering and trading towards the $120 resistance against the US Dollar. ETH price could climb higher sharply if there is a clear break above $120 and $124. Ethereum is showing a few positive signs above the $110 support zone against the US Dollar. It is currently testing a major hurdle near the $120 resistance area. Two key bearish trend lines are acting as a hurdle near $119-$120 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is gaining traction and it is now testing…