Day: July 17, 2020

Ethereum Showing Early Signs of Strong Decline, But $230 Is The Key

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Ethereum is retreating lower from the $245 resistance against the US Dollar. ETH is now showing bearish signs below $235, but the $230 support holds the key in the near term. Ethereum is currently facing an increase in selling pressure below $240 and $235. The price tested the $230 support level and it is currently correcting higher. There is a crucial bearish trend line forming with resistance near $235 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it fails to…

‘We Cannot Depend on Centralized Platforms’

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The “Wolf of All Streets” Scott Melker has been unable to do anything more on Twitter than read or retweet more than 24 hours after the massive hack on verified accounts. In a livestreamed interview with Cointelegraph on July 15, the crypto trader said in the midst of the attack he had been unable to verify his account using two-factor authentication. Melker then briefly had full access to read, retweet and post for roughly an hour before having his account restricted following the interview. Twitter Support reported that the platform…

Japan Should Urge US to Hurry Up With Digital Dollar Says Fisco Exec

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Japan is behind the curve on the establishment of a central bank digital currency and should throw its weight behind the United States establishing a digital dollar, says Takaya Nakamura, an executive from Japanese crypto exchange Fisco. The Japanese government is reportedly planning to include consideration of a central bank digital currency (CBDC) in its official economic plan soon but the country is considerably behind China’s efforts with the digital yuan.  In the global competition for supremacy in digital currencies, Japan’s role should be to urge the United States to…

Stellar (XLM) Smashes Crucial Resistance: $0.12 Could Be Next

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Stellar (XLM) gained a strong bullish momentum and broke the $0.0980 resistance against the US Dollar. XLM price is showing bullish signs and it might continue to rise towards $0.1200. There was a sharp upward move from the $0.0880 support zone against the US dollar. The price broke the main $0.0980 resistance area and traded to a new monthly high at $0.1053. There is a key bullish trend line forming with support at $0.0950 on the 4-hours chart of the XLM/USD pair (data source from Coinbase). The pair is likely…

Brazilian Jiu-Jitsu Champion Says He Lost Bitcoin Bought in 2015

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Craig Jones, a Brazilian Jiu-Jitsu fighter based in Australia, has revealed he was one of the poor souls who missed out on the Bitcoin all-time high in 2017 after misplacing his coins. According to a July 16 post on the CoinJar blog, the 29-year-old former International Brazilian Jiu-Jitsu Federation World No-Gi Champion and two-time Abu Dhabi Combat Club Trials champion purchased Bitcoin (BTC) in 2015 when the price was roughly $200-400. However, he couldn’t cash in when the price topped $20K in December 2017. Jones said: “Me and a couple…

Bitcoin Trading Near Last Line of Defense: Can Bulls Save the Day?

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Bitcoin failed to climb above the $9,300 resistance and extended its decline against the US Dollar. BTC is currently showing bearish signs and it might struggle to stay above the $9,000 support. Bitcoin declined below the $9,120 support and traded close to the $9,000 support. The price is currently recovering, but it is facing a lot of hurdles near $9,150. There is a crucial bearish trend line forming with resistance near $9,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $9,150…

Teller Raises $1M in Seed Funding to Bring Credit Scores to DeFi

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Decentralized lending startup Teller has raised $1 million in a seed funding round led by Framework Ventures to build the first algorithmic credit risk protocol for decentralized finance (DeFi). The solution will interact with legacy credit scoring systems, like Equifax, to provide aggregated data into the DeFi lending markets. Parafi Capital and Maven11 Capital also participated in the investment round. “We need solutions that offer seamless transitions between traditional finance and DeFi,” Framework Ventures co-founder, Michael Anderson said. “Credit scores are the mainstay of the lending world, and interoperability with…

All Altcoin Innovations Will “Ultimately Benefit Bitcoin”: Bitfinex Whale

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As altcoins have strongly outperformed Bitcoin over recent weeks, a debate has erupted about the long-term usefulness and efficacy of many cryptocurrency projects. Many prominent Bitcoin proponents have come out against altcoins, saying that they provide effectively no value compared to Bitcoin. For instance, there are commentators that say Ethereum’s current leading use case, DeFi, is no better than traditional financial products. But according to a prominent whale known for trading on Bitfinex, there are some altcoins that are useful. The caveat: the innovations they provide will eventually accrue on the…

Atari Partners with WAX For NFTs, Joins Board Alongside Shatner and Marvel

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Atari has partnered with WAX blockchain to bring their video games onto the blockchain in the form of Non-Fungible Tokens (NFTs). The brief announcement on Twitter followed news earlier this week that Atari CEO Frederic Chesnais had joined the WAX Advisory Board, joining Google, Microsoft, Marvel Games, Magic Leap, and William Shatner as the other members. “We’re excited to finally unveil our latest partnership with @WAX_io! With this collaboration, Atari is bringing its legendary #videogames further into the vastly expanding world of #blockchain and #NFTs.” Atari is really into blockchain …

Riot Blockchain Boosts Its Hash Rate By 45% With 1,000 New Antminers

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Publicly-listed Bitcoin (BTC) mining firm Riot Blockchain expects to increase its hash rate by 45% after receiving 1,000 Bitmain S19 Pro Antminers. The batch of miners comprises the first of three tranches it ordered of Bitmain’s latest generation of miners, with the firm having recently purchased a total 2,000 S19 Pro and 1,040 S19 miners. The 1,000 S19 Pro units are expected to be operational in the next two days at a facility owned by fellow mining firm Coinmint in Massena New York. Riot currently operates 4,000 S17 Pro Antminers.…