Day: April 16, 2020

Bears Attack Bitcoin at the Daily Close as BTC Price Slips Below $6,666

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Within the last 24-hours Bitcoin (BTC) price dropped to a two week low at $6,468. The mild correction came right at the daily close and although the price traded most of the day between $6,780-$6,680, the downside move should be no surprise as a pattern of daily lower lows has been in play since April 10.ย  Crypto market daily performance. Source: Coin360 For some traders, the $6,666 meme has been something of a line in the sand and glance at the 4-hour chart shows the price has a tendency to…

The Development Lifecycle of Ethereum – Episode 9

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โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io This week’s podcast is with Hudson James, a prominent developer liaison for The Ethereum Foundation. In this chat we went in-depth into the workings of the … โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io Youtube version

Ethereum Just Reversed But Bulls Are Not Out of Woods Yet

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Ethereum is down close to 5% and it broke the $155 support area against the US Dollar. ETH price tested the main $145 support area and it is currently correcting higher. Ethereum struggled to clear the $160 resistance and decline below the $155 level. The bulls defended the main $145 support area (as discussed in the weekly analysis). There was a break below a major contracting triangle with support near $155 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair must stay above the $145 support and…

$12M Wheat Trade Between U.S. and Indonesia Settled on Blockchain

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International agriculture giants, Agrocorp and Cargill, have traded $12 million worth of wheat from North America to Indonesia via the blockchain.ย  The transaction was made via the Singapore-based blockchain platform dltledgers, which is based on Hyperledger Fabric.ย  International cooperative bank Rabobank, ship owner Amarante, and shipping agent Transmarine, also partnered in the transaction. The trade settled on April 1 after five days, with reported time savings over manual processes and increased security and transparency. The transaction reduced the need for paperwork and for complex traditional trade settlement processes.ย  Rabobankโ€™s key…

Solana Partners with Terra to bring Stablecoin into dApp Ecosystem

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U.S. blockchain network Solana has teamed up with South Korean payment platform Terra to bring stablecoins into its dApp ecosystem. The Terra platform is backed by Korean eCommerce giant TMON.ย  Solana was launched in 2019, and claims to have superior technology in terms of scaling (65,000 transactions per second), security and decentralization. The partnership enables its dApp developers to accept low cost, price-stable payments through a new token bridge technology. Solana COO Raj Gokal said the partnership expands the platformโ€™s capabilities: โ€œBy bringing stablecoins onto our network, we aim to…

Terpin Fires Back at AT&Tโ€™s Motion to Dismiss $200M โ€˜SIM Swapโ€™ Claim

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Crypto investor Michael Terpin has filed an opposition to telecom giant AT&Tโ€™s motion to strike out his $200 million punitive damages claim in the long-running SIM swap case Terpin was the victim of attacks in 2017 and 2018 and lost $24 million in cryptocurrency. The investor asserts that his device was compromised as a result of AT&Tโ€™s negligence. A SIM swap attack typically occurs when a criminal tricks a carrier into switching a victimโ€™s phone number to a SIM card they control, in order to accept 2FA prompts. This allows…

Bitcoin Vulnerable For Bigger Decline To $6K After This Technical Rejection

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Bitcoin failed to surpass the $6,900 and $7,000 resistance levels against the US Dollar. BTC price is back in a bearish zone and it could continue lower towards $6,200 or $6,000. Bitcoin is down around 4% and it is now trading well below the $6,800 level against the US Dollar. There was a break below the $6,555 support and the price traded to a new weekly low at $6,476. There are two key bearish trend lines forming with resistance near $6,790 and $6,960 on the hourly chart of the BTC/USD…

Ethereum Now Rivals Bitcoin for Daily Value Transfers

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The daily average transaction values across the Ethereum platform are now equal to those of the Bitcoin (BTC) network. According to blockchain analytics firm Messari, the daily value transfer โ€” the total value of assets moved on the blockchain over a day โ€” of the Ethereum network began rivaling those on the Bitcoin network as of April 12, approximately $1.5 billion. Value transferred on Ethereum include Ether (ETH) as well as other stablecoins supported by the blockchain, most notably Tether (USDT). Source: Twitter The parity is largely a result of…