Day: April 13, 2020

Increased Profits for Credits Blockchain Node Holders

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Credits Blockchain Platform has announced the launch of additional stimulation for its node holders. The award program involves the monthly distribution of CS coins between all owners of Credits nodes entailing more advantageous conditions for receiving cryptocurrency of this platform. The claimed amount of distribution for the March is 400,000 CS, equivalent to $10,000. Each node owner will receive a reward depending on the frequency of the node’s participation in the consensus algorithm and its selection as a trusted one. Participation requirements Appropriate PC and Internet connection: Operating system: Windows…

Bitcoin Faces Coronavirus ‘Inflection Point’ Amid Oil Woes

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Bitcoin (BTC) will see a historic “inflection point” in its life thanks to coronavirus, says entrepreneur Cameron Winklevoss. In a series of tweets on April 12, one-half of the Winklevoss twins who own cryptocurrency exchange Gemini, underlined the importance of Covid-19 for Bitcoin and its users. Cameron Winklevoss: Hodl your BTC “This pandemic will be an inflection point for Bitcoin and the Metaverse,” he wrote. Telling followers to “hodl” their BTC, Winklevoss implied that Bitcoin’s public profile would undergo a metamorphosis under current conditions.  His optimism echoes that of various…

Bitcoin, Ether, and XRP Weekly Market Update April 13, 2020

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The total crypto market cap lost $3.6 billion of its value during the last seven days and now stands at $191.9 billion. The top 10 currencies were mostly in green for the same time frame with Tezos (XTZ) and Bitcoin SV (BSV) leading the pack with 15 and 6.9 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $6,704 while ether (ETH) fell to $152. Ripple’s XRP moved down to $0.183. BTC/USD Bitcoin suffered another rejection at $6,900 on Sunday, April 5 and fell down…

Chinese Public Blockchain Index Ranks Bitcoin 14th While EOS Tops List

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The Blockchain Research Institute headed by China’s Center for Information and Industry Development (CCID) released its 17th Global Public Chain Technology Evaluation Index on April 10. The index ranks 37 of the most widely used public blockchains by evaluating them under three different criteria: basic technology, applicability and creativity. The ranking of each project is then decided based on the sum of its scores under all the three sections. According to the latest index, EOS ranks as the best performing blockchain project, while the most widely used blockchain, Bitcoin, has…

US Gov Opens Door for Fintechs to Become Lenders in COVID-19 Relief Plan

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Main Street businesses hit by the COVID-19 crisis now have access to a lifeline from fintech lenders. On April 9, the United States Small Business Administration released its application form for nonbanks to sign on as lenders under the federal Paycheck Protection Program. Speaking to Cointelegraph on April 10, John Pitts, head of policy at San Francisco-based fintech Plaid, said the development was “a critical step” that would broaden the reach of the relief program and ensure that as many firms as possible get access to the help they urgently need.…

Why Traders Expect Key Fibonacci Level to Drop Bitcoin Price to $5.3K

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The Fibonacci Retracement indicator suggests that $5,300 is the main short-term trend level for Bitcoin. Given the tendency of BTC to retest key Fibonacci levels, it may indicate that the dominant cryptocurrency is likely to see another leg down. Since April 7, the Bitcoin price has dropped from $7,325 to sub-$6,600, by more than ten percent. It recovered to $7,150, as traders anticipated a minor upsurge ahead of the weekly candle chart close of BTC on April 12. But, with a sharp rejection, BTC fell to the mid-$6,000s as the…

HTC Is Bringing Cryptocurrency Mining to Its Exodus Blockchain Phone

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Taiwan-based tech giant HTC will allow users of its Exodus blockchain phone to mine cryptocurrency, but it isn’t going to make them rich. As reported by Forbes on Friday, the firm has partnered with Mida Labs to use its DeMiner app on the Exodus 1S model. The app allows users to mine monero (XMR) and can earn users up to $0.0038 in the crypto on average daily. The electricity used to carry out the mining tasks would come to less than half the income from mining, according to the report.…

EU Lawmakers Want to Create a New Regulator for Crypto ‘Blind Spots’

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The European Parliament has published a study identifying a number of legislative blind spots pertaining to crypto asset oversight in the European Union. The report identifies stablecoins, token-based fundraising, and the threat of money laundering through crypto mining among recent industry developments necessitating a regulatory response. Crypto mining identified as money laundering risk The report asserts that cryptocurrency mining may be used as a vehicle by criminal organizations to “create clean cash”: “Newly mined coins are by definition ‘clean’, so if someone (e.g., a bank) is willing to convert them…

CZ Says Binance Invested One Quarter of Its Profits Last Year

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The chief executive of major cryptocurrency exchange Binance, Changpeng Zhao — often known as CZ — has revealed that the firm diverts a quarter of its profits into investment opportunities. Zhao’s comments follow Binance’s completion of several recent high-profile acquisitions — including crypto data site CoinMarketCap and Indian crypto exchange WazirX. In a recent interview with South China Morning Post, Zhao estimated that Binance reinvests roughly 25% of its annual profits into expansions and acquisitions.  “We usually spend about a quarter of our profit on investment opportunities every year,” Zhao…