Day: July 3, 2020

BITCOIN (BTC) JUST SAW ITS BIGGEST BREAKOUT EVER, AND THAT MEANS $10K IS JUST THE START

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io ➡️ Free Cryptocurrency Masterclass: It’s been an explosive past few days for Bitcoin (BTC). After tanking as low as $8,600 on the weekend before last, the Bitcoin price breached $10,000 just hours ago. On Bitstamp, BTC traded as high as $10,429, according to TradingView.com data. While the asset remains below the yearly highs of $10,500, a prominent analyst noted that this rally has formed Bitcoin’s largest breakout ever. This suggests that the crypto market is heading much higher than it is in…

Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks

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Microsoft Security Intelligence alerted users to a type of ransomware, called Avaddon, that uses Excel 4.0 macros to distribute malicious emails. These emails contain attachments which deploy an attack when opened in any version of Excel. Avaddon ransomware emerged in early June through a massive spam campaign that randomly targeted its victims. Some patterns seem to indicate that the ransomware mostly targets Italian users. Impersonating Italian officials As BleepingComputer reports, the attackers behind the ransomware are recruiting “affiliates” to spread the payload. According to their analysis, Avaddon’s average ransom amount is…

Analyst Who Predicted Bitcoin’s V-Shaped Reversal at $3,700 Is Bullish

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It’s been a tough past few weeks for the Bitcoin market. Some are skeptical that the cryptocurrency is in a bull trend after BTC has sustained multiple rejections at $10,000. Yet a trader that nailed a bold prediction remains optimistic, sharing a number of signals indicating imminent upside. Bitcoin Could Soon See a Bounce, Says Crypto Trader In March, Bitcoin plunged from the $9,000s to $3,700 in the matter of a week. Considering the severity of the drop, coupled with a collapse in the traditional economy, few expected a rebound.…

Here’s Why Ethereum’s Consolidation Could Result in an Explosive Move to $480

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Ethereum has been consolidating over the past few days within the $220 region. Although on the surface its price structure seems similar to that of Bitcoin and its peers, it is important to note that it is currently stuck beneath its long-held trading range between $230 and $250. Its sustained bout of trading below this range is a grim sign, but analysts are noting that the crypto has remained above a couple of crucial technical levels. The ability to remain above these levels has led one analyst to set his…

We Underestimated How Long Proof-of-Stake and Sharding Would Take to Complete

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The Hashing It Out podcast recently hosted Ethereum co-founder, Vitalik Buterin. During the show, he explained how he would handle Ethereum’s creation differently if he were building it now.  Buterin acknowledged the presence of a number of changes, both large and small, such as putting more thought into gas costs for example. “We didn’t really do a good job of setting those at the beginning,” Buterin said on the July 2 podcast interview.   Buterin’s larger changes involve sharding and Proof-of-Stake After mentioning gas prices and other smaller alterations he would…

UK Regulators Shut Down Crypto Exchange Following £1.5m Scam

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GPay Limited, which traded as XtraderFX (formerly CryptoPoint) has been shut down by UK authorities following investigations into its practices. The firm has been on the radar of the Financial Conduct Authority for over two years. But a High Court hearing, before Deputy Insolvency & Companies Court Judge Baister, finally forced it to close last week. “This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.” Investigators discovered that at…

Telecom Giant Thinks Blockchain Can Make Phone Insurance More Convenient

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South Korean telecommunications firm, SK Telecom, announced a blockchain-based document submission process for mobile phone insurance. This new protocol will do away with the company’s current antiquated paper processing methods. Before now, users had to visit a technical repair office to receive insurance benefits for damaged phones, according to Itbiznews. Successful visits would conclude with a claim receipt, which they then had to forward via email or fax to the insurance company. Cooperation with Samsung SK Telecom’ new system will allow the telecom giant’s customers to skip this outdated process,…

This Binance Launchpad Alum Believes It Has Cardano, EOS & Algorand Beat

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Elrond (ERD) believes it has what it takes to overcome the behemoths of the proof-of-stake, or PoS, world. This Romanian PoS blockchain raised $3.25 million in an Initial Exchange Offering, or IEO, in July 2019. Elrond CEO, Beniamin Mincu, told Cointelegraph that Binance’s IEO process was very tough. He explained though that through perseverance, the project was able to raise the necessary funds, and receive significant exposure. Ethereum 2.0 — ahead of schedule Elrond’s technological stack reads very similar to what has been anticipated for Ethereum (ETH) 2.0 — sharding,…