Day: July 8, 2020

China’s CBDC Project to Collaborate With More Domestic Enterprises

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Development of China’s central bank digital currency, or CBDC, continues to show signs of progress. On July 8, a major domestic e-commerce platform and a video sharing site both joined the CBDC project, according to local news.  Companies Meituan and Bilibilibili have apparently both begun to cooperate with a number of banks involved in the digital Yuan project. Meituan is a major service platform with over 240 million consumers and five million local merchants, and Bilibilibili is known as China’s largest video sharing website. In addition, Chinese multinational tech group,…

Exchanges Could Fight Hackers By Renting Mining Power

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Speaking at Unitize virtual event, Coin Metrics researcher Lucas Nuzzi suggested that one way for exchanges to fight back against the hackers is by renting mining power from online marketplaces. 6 confirmations ticking countdown Nuzzi conjectured that an exchange which has been hacked could rent enough hashpower through an online marketplace to force a favorable network reorganization: “So it is essentially a technique to try and reorg yourself by renting mining power and doing that work where if you’re an exchange and you’ve been hacked, within those six work confirmations…

Business Consensus May be Blockchain’s Main Challenge

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During a Unitize panel on Wednesday, Ali Loveys commented that the biggest challenge in  the blockchain space is not the technology itself, but rather whether the business model or values make sense or not.  Dr. Ali Loveys, the Chief Privacy Officer at ConsenSys Health, has over 30 years of experience in emerging technology strategy, adoption, and optimization in healthcare. The insight she drew from her work experience was that:  “The challenges are always less about the technology, than about the business value and the people who are interested in using…

OKEx Recorded Over 8,000 ‘Whale’ Bitcoin Trades in June

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OKEx exchange recorded over 8,000 “whale” Bitcoin (BTC) trades in June; more than any other exchange. It also had the honor of recording the largest such trade — 513.1 BTC according to data from Kaiko. Number of Bitcoin whale (≥10 BTC) trades by exchange. Source: Kaiko. Whales prefer USDT over USD In Kaiko’s nomenclature, “whale” trades are 10 BTC and above. OKEx also led in terms of average whale trade size, which was just above 33 BTC. More big trades are happening on exchanges that support BTC-USDT pairs than BTC-USD…

After 150% TikTok Pump, Jake Paul Says Dogecoin (DOGE) Is “Gonna Go Crazy”

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Forget Bitcoin and Ethereum, Dogecoin (DOGE) has been on an absolute tear over the past few days. Just look at the chart below, which shows that the meme cryptocurrency is up more than 150% in the past three days. As of the time of this article’s writing, it’s trading at $0.048, but set a local high at $0.056 on Tuesday. DOGE/USD chart from TradingView.com Dogecoin, which is Tesla CEO Elon Musk’s “favorite cryptocurrency,” is benefiting from an influx of mainstream coverage spurred by TikTok users. A user on the platform…

Matic Network Launches an Initiatives Program for Mainnet Adoption

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Blockchain scalability solution, Matic, released news of a “Large Scale Developer Initiatives” program on July 8. The program is meant to incentivize mainnet adoption, in partnership with Gitcoin. According to the announcement, the company aims to cater to DApp developers from project inception to fully-fledged and operational stages. They also want to create an ecosystem of developers and DApps to build on the Matic Network. Campaigns include a Build-n-Earn feature, which aims to provide a monthly recurring incentive to bootstrap developers’ teams, and the Matic Layer 2 Security Hackathon. This…

Ethereum Massive Crash! – Price Analysis News

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Ethereum Embarks on a “Moon Mission” as Analysts Eye a Move to $290

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Ethereum is beginning to flash some signs of strength as it pushes up against the upper boundary of its long-established trading range between $230 and $250. If it can surmount the resistance it is currently facing, it is a strong possibility that it will soon set fresh post-March highs. Analysts are growing increasingly optimistic regarding the cryptocurrency’s near-term outlook. One is even going so far as to note that it is currently embarking on a “moon mission” due to it forming an incredibly bullish market structure. As for where this…

Market Wrap: Bitcoin Jumps Past $9,400 Despite Weak July Volumes

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Weaker bitcoin trading volumes aren’t stopping its price from going up. “Bitcoin became oversold from a short-term perspective last week for the first time since mid-March,” said Katie Stockton, an analyst at Fairlead Strategies. “This seems to be giving way to an uptick in short-term momentum, which has been weak since late May,” she added.  The jump past $9,400 Wednesday came during a time of lower spot trading activity. Volumes have dipped since May on spot exchanges like Coinbase after a month of excitement due to bitcoin’s halving, its drop…