May 14, 2020

Reddit’s New Blockchain Community Points Can Be Controlled ‘Just Like Bitcoin’

May 14, 2020 boss

In a bid to create a more user-centric social media platform — “a free frontier” — Reddit has introduced its new community points system built on top of the Ethereum blockchain. In a slide presentation shared Wednesday, May 13th, Reddit announced that Redditors will now be able to earn rewards in the form of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform. This confirms claims that many users made in April about Reddit coming up with a blockchain-based reward system. Users will have the freedom…

Users Are Holding $220 Million More Bitcoin Since the Halving

May 14, 2020 boss

Almost 24,000 Bitcoin (BTC) have been withdrawn from exchanges since Bitcoin’s halving on May 11, according to Bitcoin Exchange Net-Flow data from on-chain market analysis platform Glassnode. The trend of Bitcoin flowing out of exchanges started in mid-April and has continued with only a short reprieve in the hours before and after the halving: In the hours before and after #Bitcoin‘s halving, exchange net flow decreased significantly. So far, the event has had no impact on 2020’s trend of investors withdrawing $BTC from exchanges.https://t.co/KqezAI9HsM pic.twitter.com/ClCdYJ90wG — glassnode (@glassnode) May 13,…

Overstock Wants Lawsuit Nixed Ahead of Security Token Distribution

May 14, 2020 boss

Online retailer and early Bitcoin adopter Overstock has filed for the dismissal of a lawsuit that accuses the company of misrepresenting the nature of its ‘digital dividend’ token. The dividend is a security token airdrop that will see ‘OSTKO’ tokens distributed to company shareholders on a basis of one token to every ten Overstock shares. News of the dividend caused a share price surge and the lead plaintiff accuses Overstock of deliberately withholding information regarding the distribution, and of deceiving the market to intentionally punish short sellers. Overstock’s digital dividend…

Lumi Wallet announces Zero-Fee Crypto Exchange

May 14, 2020 boss

Lumi Wallet, a multi-currency crypto wallet that recently became open-source has announced in its blog, the introduction of zero-fee facility for crypto-crypto exchange through its in-wallet exchange feature. To benefit from this offer, users will have to use the promotional code “HEYHEY” while checking out. Lumi claims that this will allow users to make their crypto trading experience smoother and more comfortable. Private wallets are known to provide greater security than exchanges, but exchange rates tend to be better in the latter. Lumi Wallet seems to address this challenge and…

Ripple (XRP) Follows Bitcoin’s Rise But $0.21 Shows Bearish Case Remains Intact

May 14, 2020 boss

Ripple traded higher and broke the $0.2000 resistance following bitcoin price rise against the US Dollar. However, XRP is still facing many hurdles near $0.2100 and $0.2200. Ripple is trading higher and it managed to clear the $0.1980 and $0.2000 resistance levels against the US dollar. The price is currently facing a key resistance zone near the $0.2050 level. There was a break above a major bearish trend line with resistance near $0.1980 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to…

Technicals Suggest Ethereum Needs To Clear $205 For Hopes of a Fresh Rally

May 14, 2020 boss

Ethereum is slowly rising and it recently broke the $192 resistance against the US Dollar. ETH price must gain bullish momentum above $205 to start a strong rally towards $220 or $230. Ethereum is moving into a positive zone, with a close above the $192 resistance. The price is still struggling to clear the $200 and $205 resistance levels. There is a major bullish trend line forming with support near $195 on the hourly chart of ETH/USD (data feed via Kraken). A clear break above the $205 barrier is must…