Day: March 26, 2020

Ethereum Is Showing Early Signs of Fresh Decline But 100 SMA Holds Key

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Ethereum is struggling to gain bullish momentum above the $142 and $144 resistances against the US Dollar. ETH price could start a major decline if it breaks the $135 support. Ethereum is facing an uphill task as the bulls struggle near $135 against the US Dollar. The price is currently holding the $135 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $135 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is slowly gaining pace, but…

Malaysian Blockchain App Allows Users to Trace Sustainable Palm Oil

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The Malaysian Palm Oil Council (MPOC) and blockchain startup BloomBloc have developed a blockchain app that enables users to trace palm oil throughout the entire supply chain. Following a successful test, the blockchain-based system is available in a pilot roll out to local oil palm growers, palm oil processors, plantations and family owned smallholders, according to food industry publication Foodbev Media. The system registers each tree and its associated information, making it possible for users to track the journey from plantation, to mill, and on to the final product. The…

Maker Decentralizes Governance, But is the Community Ready?

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The Maker Foundation has handed governance over the smart contract that underpins the MakerDAO (MKR) protocol to MKR token holders. Describing the move as the project’s “most significant step” toward decentralized governance, the foundation announced that a three month long transition of power to the community had been finalized. “The MKR token contract is now 100% in control of MKR holders,” the foundation said.  The foundation urged the Maker community to “remain deeply engaged and continue to vote smartly and often”, warning that “voter apathy” could threaten the project: “While…

Telecommunications Tokens Are Surging Just Like Stocks

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Communication-related tokens have surged over 18 percent in the last week, following in the footsteps of Zoom and other telecommunications stocks. Increase in the remote workforce During tumultuous times, investors are eager to find assets that can provide shelter or a hedge from volatility. For many decades, this usually meant either gold or gold mining company stocks, since they tended to have a negative correlation with the rest of the market.  Over the last decade, many have been prophesying Bitcoin (BTC) as the “new gold”. During the recent crisis, however,…

Stage One of ‘Risky’ EOS Worker Proposal System Approved

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Block producers have approved the first stage of the implementation of a controversial EOS governance change that allows any user to propose network rule changes. EOS blockchain explorer Bloks shows that the first phase was approved on March 24. EOS Nation — the block producer (BP) who proposed the system — claimed in a recent tweet that the 34 positive votes by BPs on the proposal is “the strongest consensus reached on any EOS Mainnet proposal”. According to an EOS Nation’s March 18 post, the newly approved Worker Proposal System…

Why Bitcoin Needs to Clear This Crucial Level

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Over the past few weeks, Bitcoin has performed surprisingly well, rallying as high as $7,100 (on Bitstamp) just days ago, surging higher from the $3,800 bottom seen during the March 12th to 13th capitulation. Even though the bull trend has been exhausted, BTC continues to trade at $6,600, consolidating in the mid-$6,000s as it determines which way to head next. Related Reading: House Democrats Propose ‘Digital Dollar’ in Move Big For Bitcoin: Here’s Why Despite this price action, the cryptocurrency remains below a number of key resistance levels, as pointed…

Neo Releases $11 Million From Cold Wallet to Fund Itself Through 2020

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The Neo Foundation announced on March 25 that they have released the necessary funds to continue operating for the 2020 Fiscal Year (FY). A total of 1,660,865 NEO worth approximately $11 million was released, with 27,800,303 NEO ($190 million) still remaining. According to its blog post, the Neo whitepaper allows the Foundation to sell its stake of NEO to “support Neo’s technological development, ecosystem growth, community expansion.” The transaction ID published by the foundation reveals that the tokens were sent to an address that contains over 14.6 million NEO, worth…