Month: March 2020

Tether’s Dominance Solidified as more Exchanges Launch Bitcoin USDT Futures Contracts

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In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap.  Its website states the company has $6.229 Billion in assets.  Trading of Bitcoin futures contracts has become more popular as crypto traders seek volume and volatility that has now escaped the majority of altcoins. In a previous analysis, we saw how Binance had overtaken Bitmex in terms of 24-hour trade volume of Bitcoin futures contracts. This indicates…

Algorand Launches Blockchain-Based Global Coronavirus Survey

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Proof-of-stake cryptocurrency platform Algorand has created a global survey intended to compile an open database on the spread, status, and symptoms of the COVID-19 pandemic. On March 27, the company tweeted that its ‘IReportCovid’ survey app will contribute to a global data repository that updates in real-time to inform about pandemic relief efforts. Algorand launches survey to build global coronavirus database In a blog post, Algorand states the initiative seeks to address the lack of real-time data about the pandemic coming from individuals in the community. Survey responses are publicly…

Bitcoin’s (BTC) Support at $6,000 Threatened by a Death Cross on the Daily Chart

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In brief: Bitcoin (BTC) has had an eventful weekend as it dropped from $6,700 to $6,000. The King of Crypto has tested the $6,000 support zone a few times.  This area of support is crucial as a death cross is forming on the daily chart.  At the time of writing this, all global citizens are taking precautions to safeguard their health and wealth from the devastating effects of COVID19. When we look at our favorite cryptocurrency of Bitcoin, it too is having a hard time maintaining the $6,000 zone of…

Bitcoin’s (BTC) Support at $6,000 Threatened by a Death Cross on the Daily Chart

boss

In brief: Bitcoin (BTC) has had an eventful weekend as it dropped from $6,700 to $6,000. The King of Crypto has tested the $6,000 support zone a few times.  This area of support is crucial as a death cross is forming on the daily chart.  At the time of writing this, all global citizens are taking precautions to safeguard their health and wealth from the devastating effects of COVID19. When we look at our favorite cryptocurrency of Bitcoin, it too is having a hard time maintaining the $6,000 zone of…

Comparing IBM, Microsoft, Apple, Google and More

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The world’s largest technology companies have made concerted efforts to investigate and integrate blockchain technologies over the past few years. Partly driven by a massive boom in interest caused by Bitcoin’s stellar bull run in 2017, blockchain technology quickly became the new catchword in tech. A swathe of startups entered the fray during that period as entrepreneurs looked to cash in on the hype in the space. Bigger companies that weren’t looking into the benefits of the technology faced the risk of being left behind and began to carefully explore…

OKEx Now Lists Orchid (OXT) Token, Spot Trading to Go Live on March 30, 2020

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The leading global cryptocurrency derivatives and spot exchange platform OKEx has announced the addition of Orchid (OXT) token to its list of tradable crypto-assets. The utility token is designed for use on the Ethereum blockchain-based Orchid peer-to-peer open marketplace for buying and selling VPN bandwidth. The deposits and withdrawals of OXT on OKEx will be available from March 27 and 31st at 09:00 UTC respectively. In between, the OXT/BTC and OXT/USDT spot trading feature will go live on Mar 30, 2020 at 09:00 UTC. The Orchid platform is designed to…

Global Crypto Community Comes Out in Full Force Against Coronavirus

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With cases of the deadly coronavirus still popping up at an unprecedented rate around the world, many prominent members of the blockchain and crypto industries have heeded the global cry for help and have swiftly engaged in meaningful action — be it in terms of direct research-related participation, or through the donation of funds or resource materials, such as masks, sanitization equipment, etc.  For example, as early as January, premier cryptocurrency exchange Binance had already donated $1.4 million worth of medical supplies to Chinese authorities in a massive effort to…

Here’s Why 100 SMA Could Spark Fresh Bitcoin Rally In Near Term

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Bitcoin failed to surpass the $7,000 resistance and declined below $6,500 against the US Dollar. BTC is likely to bounce back as long as it is above $6,000 and the 100 SMA (H4). Bitcoin price is currently correcting gains from the $7,000 resistance area. The $6,000 region and the 100 simple moving average (4-hours) are important supports. There was a break below a major bullish trend line with support at $6,620 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses above…

Network of Fake Bitcoin QR Code Generators Stole $45,000 in March

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A network of malicious QR code generators has stolen more than $40,000 from Bitcoin (BTC) users in one month. At least nine fake Bitcoin-to-QR code generators have been spotted in recent weeks, with security researcher, Harry Denley, first tweeting that he had identified two domains hosting fake QR code applications on March 22. Denley later identified seven other domains sharing the same interface — suggesting that they are all created by the same developer. Fake Bitcoin QR code generators steal over 7 BTC The malicious programs promise to convert a…

Ethereum Is In Downtrend But This Variable Can Trigger A New Rally

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Ethereum failed to clear the $142 resistance and started a fresh decline against the US Dollar, similar to bitcoin. ETH price could soon test the main $120 support area, where the bulls might emerge. ETH price is currently trading in a bearish zone below the $135 level against the US Dollar. There are many hurdles on the upside, starting with $135 and up to $144. There is a major bearish trend line forming with resistance near $135 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair remains…