May 18, 2020

Crypto Not as Chaotic as it Appears

May 18, 2020 boss

Venture capital firm Andreessen Horowitz thinks the past growth of social media, developers, prices, and startups among cryptocurrencies could mean a crypto cycle favorable to investors in the future. The United States-based company released a report on May 15 analyzing cryptocurrencies during three cycles, peaking in 2010, 2013, and 2017. According to the firm, the compound annual growth rates (CAGR) from 2010 to the present shows ”choppy yet consistent growth in all of [these] key metrics.” Source: Andreessen Horowitz “The 2017 cycle spawned dozens of exciting projects in a wide…

Japanese E-Book Publisher Moving to DLT as Demand Increases

May 18, 2020 boss

Japan-based Media Do Holdings will be investing $2.8 million towards distributed ledger technology for the distribution of its e-books. According to a May 17 article in the Nikkei newspaper, Media Do Holdings plans to invest 300 million yen — roughly $2.8 million at the time of writing — into developing a distributed ledger for the company’s e-books for the next two years starting in late 2020. The company cited that being able to have a reliable transaction history via such a ledger for e-books makes it possible to sell used…

Bitcoin Poised To Surge Above $10K If It Holds This Crucial Support

May 18, 2020 boss

Bitcoin is up around 4% and it is approaching the $10,000 resistance against the US Dollar. BTC price is likely to extend its rally above $10,000 unless it dives below the $9,500 support. Bitcoin is currently gaining bullish momentum and trading near the last swing high at $9,950. The price is trading well above the $9,600 support and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $9,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Japan’s Top Credit Card Issuer Building Blockchain Payment System

May 18, 2020 boss

The biggest credit card issuer in Japan, JCB, has partnered with technology accelerator TECHFUND to build a sustainable transaction system on the blockchain. According to a May 15 statement released by JCB, the partnership will utilize TECHFUND’s expertise on security token offerings (STOs) and staking to create a new platform for transactions. Also based in Tokyo, TECHFUND has a program called ACCEL BaaS (Blockchain as a Service) which aims to accelerate the adoption of blockchain technologies for startups and enterprises. JCB moves towards blockchain The financial firm has made some…

Millions Worth of BitMEX Shorts Liquidated as Bitcoin Surges Towards $10,000

May 18, 2020 boss

Just minutes ago, Bitcoin made its latest attempt at rallying to $10,000, reaching $9,950 after the close of Sunday’s candle. The cryptocurrency fell short of the key $10,000 price point, since retracing to $9,900. Bitcoin chart from TradingView.com This move has not sparked much a reaction from the derivatives market, potentially because short traders were expecting the ongoing rally, and thus deleveraged their positions. Skew.com data indicates that a mere $5 million was liquidated during this upswing — far less than other liquidation events over the past two weeks. BitMEX…