March 2020

Coin Metrics Report Shows Stablecoin Transfer Value Hit $444 Million

March 25, 2020 boss

Blockchain analysis company Coin Metrics has found that while Bitcoin (BTC) was experiencing its biggest daily drop in the last seven years, stablecoins reaped the benefits. Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, released their State of the Network report on March 23. The report focused on how the rest of the crypto market fared during the BTC crash two weeks ago. According to Coin Metrics data, stablecoins gained market share, spreads on spot and futures markets widened, and transfer fees spiked as people rushed to…

Pullback In Ripple (XRP) Remains Attractive To Bulls In Short Term

March 25, 2020 boss

Ripple gained traction above $0.1550 and tested the $0.1640 resistance region against the US Dollar. XRP price is currently correcting lower, but dips remain attractive in the short term. Ripple price is currently correcting gains from the $0.1645 swing high against the US dollar. The bulls are in control and they are likely to protect the $0.1580 support area. There is a key connecting bullish trend line forming with support near $0.1580 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely to remain…

Tokyo-Based Association Announces New Guidelines for Blockchain Gaming

March 25, 2020 boss

One organization in Japan is finding new ways to explain regulations covering illegal activities in the blockchain gaming community. The Blockchain Contents Association (BCA) announced on March 24 that they had written new guidelines to deal with laws related to gambling and online scams. A Japanese self-regulatory organization established in February 2020, the BCA intends to promote customer protection for any blockchain-based content, including gaming and social media. Avoiding violating Japanese law on the blockchain Though many cities in Japan have explored establishing casinos, under local law gambling online and…

Ethereum Gearing For Lift-Off to $150: Rally Isn’t Over Yet

March 25, 2020 boss

Ethereum is currently trading nicely above the $135 support area against the US Dollar. ETH price is likely to break the $142 and $144 resistance levels for a move towards $150. Ethereum is trading in a positive zone above the $135 support against the US Dollar. The price is currently consolidating gains below the $144 resistance area. There is a key bullish trend line forming with support near $135 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also consolidating gains above the $6,500 support area.…

Ethereum Gearing For Lift-Off to $150: Rally Isn’t Over Yet

March 25, 2020 boss

How to Buy Weed With Bitcoin

March 24, 2020 boss

So you’ve got a little bitcoin to your name but are all out of weed. What you gonna do? Well, if you’re fortunate enough to live in a region where marijuana is legal, there are ways to exchange the two. While if you don’t inhabit such an enlightened area, rumor has it there are still ways and means to get your fix without touching fiat. Here are five options for legally buying weed with bitcoin. Also read: California City Official Uses Bitcoin Cash to Purchase Cannabis How to Swap Sats…

How Bitcoin is Faring So Far

March 24, 2020 boss

The coronavirus crisis has seen Bitcoin price nosedive in one of the greatest Bitcoin price crashes since its inception. With a 52% drop in price in a single week, the coronavirus has left many Bitcoin enthusiasts scratching their heads. Even the legendary crypto trader, Peter Brandt, who predicted Bitcoin’s peak way back in 2017, tweeted that he wouldn’t be shocked if it crashed to $1,000 and below. Will Bitcoin recover from such a huge crash? And can it still be trusted to store value over time? These are just some…

Court Sides With SEC, Grants Injunction Against Issuing GRAMs

March 24, 2020 boss

A United States District Court has granted an injunction against Telegram, preventing the company from issuing its GRAM tokens at the present time. Court says that GRAMS are securities under Howey test Per a March 24 filing granting the Securities and Exchange Commission’s request for a preliminary injunction, the Court wrote that: “The Court finds that the SEC has shown a substantial likelihood of success in proving that the contracts and understandings at issue, including the sale of 2.9 billion Grams to 175 purchasers in exchange for $1.7 billion, are…

Binance Holds $1B in ERC-20 Stablecoins

March 24, 2020 boss

Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi. Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen. Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance. These companies are distinctly leading the pack in stablecoin balance.…

Turning A Crisis Into An Opportunity, China Gets One Step Closer to CBDC

March 24, 2020 boss

As central banks around the world are cutting interest rates to zero and taking aggressive action against the economic recession due to the coronavirus pandemic, China’s central bank is accelerating its central bank digital currency (CBDC) plan. According to a Global Times report on March 24, China is one step closer to issuing its CBDC. The Bank of China has completed development of the basic functions of the official digital currency and is now drafting laws that will help its implementation. The Global Times also mentioned a number of Shenzhen-based…