Day: July 20, 2020

AMZN Stock Up 3%, Robinhood Traders Interested in Amazon

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AMZN stock had a quite disappointing week but today it is in green again. Amazon is expected to release the Q2 earnings report on July 23 and analysts anticipate it as a catalyst to a new wave. Being one of COVID-19 stock market leaders, Amazon.com Inc (NASDAQ: AMZN) stock is much followed by investors globally. Last week the shares experienced their worst continuous losing period for the past 10 or so weeks. Meanwhile, it has become known that online brokerage company Robinhood reported an influx of traders investing in Amazon…

What the DOGE Is Going on? TikTok Creates New Crypto Trading Paradigm

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Less than two weeks after the price and trade volume of Dogecoin (DOGE) exploded following a get-rich-quick TikTok challenge that went viral, the meme coin has been making headlines again. This time, Elon Musk’s humorous tweet briefly reversed the downward trend that the asset had entered since the TikTok boost began to wear off. While the latest development might bolster the impression that Dogecoin only thrives on fleeting, whimsical cycles of the internet’s attention, it should not obscure the potentially bigger lessons of its earlier user-powered surge. Meme factory meets…

China Ahead of U.S. in Digital Asset Industry

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Brad Garlinghouse, Ripple CEO, at the Parallel Summit on July 17 expressed his opinion about the digital currency industry. He stated that China is a leader of it and admitted that he is awed by China’s approach. The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has said that China is ahead in making guidelines for the digital currency industry. He made the statement at an interactive session at the Parallel Summit hosted by the Chambers of Digital Commerce. The summit’s July 17 session had Garlinghouse as a speaker. He…

Top Developer Says Ethereum 2.0 Will Launch Sooner Than Expected

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Following delays to the rollout of ETH 2.0, it’s no secret that the Ethereum community grows restless over the wait. A recent public discussion on the matter had Ethereum Foundation Researcher, Justin Drake give a tentative date of January 2021 for Phase 0 rollout, during a Reddit AMA. The announcement garnered a mixed response. Some took the view that the slow progress to date has tarnished Ethereum’s credibility, leading the door open for competitors to gain ground. ” It makes it look like Ethereum has lost the “hunger”. Which opens…

Twitter Hack Could Have Been a Lot Worse: New Details

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It has become known that Coinbase saved over 1,000 users from sending Bitcoins to scammers in the recent Twitter hack. It appears that the Twitter hack of the about 130 accounts of famous people and companies could have been worse. Last week, accounts of majors brands, politicians, world leaders, and celebrities were hacked. The hackers perpetuated a Bitcoin doubling scam that raked in $121,000 worth of BTC at the time.  The account hacks have created a dangerous precedent. One where users of social media accounts aren’t sure of the security of…

Wirex Approved to Issue Mastercard-Backed Bitcoin Debit Cards

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Mastercard said Monday it had granted Wirex principal membership status, becoming the “first” native cryptocurrency outfit to do so. The membership allows Wirex, a London-based digital payments firm, to issue payment cards directly to consumers, making it easier for people to buy, hold and exchange crypto into fiat money. Raj Dhamodharan, Mastercard’s executive vice president on digital assets and blockchain, said the deal was part of an expansion of the company’s digital assets program, which has now been relaxed to enable other emerging crypto firms to become principal members. “The…

OKEx Adds DMG and CELO Tokens, Expands DeFi Projects Portfolio

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The #FinanceAll goal of the world’s leading crypto exchange and trading platform OKEx is now another step closer following the listing of a couple of new tokens belonging to emerging DeFi projects. The two new cryptocurrencies, DMM Governance Token (DMG) and Celo Gold (CELO) were listed on July 16, with spot trading against USDT and BTC going live the next day on July 17. CELO is the utility and governance asset on Celo, a mobile-first, blockchain solution that makes financial tools accessible to all. While Celo offers the necessary financial…

PFE Stock Price Up 3%, UK Orders 90M Doses of Pfizer Vaccine

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Her Majesty’s Government has ordered 90 million doses of Pfizer COVID-19 vaccine candidate which became a stimulus for the PFE stock price rise. Moreover, the UK is going to be a worldwide leader in the search for a working vaccine. Pfizer Inc (NYSE: PFE) stock price has gone up 3.34% in the pre-market. The rise is occurring as the United Kingdom’s Government has ordered 90 million doses of its COVID-19 vaccine. It is alongside other Bio-medical companies such as BioNTech SE (NASDAQ: BNTX) and Valneva SE (EPA: VLA). On Friday…

Latest DeFi Craze Involves a One-Man Project With a ‘Worthless’ Token

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The trend of usage incentives in decentralized finance kicked off with Compound’s COMP token distribution, and it continued through several other platforms that sought to replicate its perceived success. But the latest DeFi yield farming mania involves yEarn, a yield aggregating platform developed by just one man, Andre Cronje. Despite his warnings that the platform’s token, YFI, is worthless and “won’t be on Uniswap,” it was in fact listed on Uniswap. A price run for more than 4,000% in a single day kicked off as a consequence. That made YFI…

First Mover: Bitcoin Miners Find Upgrade Financing Aplenty, Even as Prices Languish

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Even as bitcoin prices languish below $10,000, North American cryptocurrency mining companies are tapping into a flurry of fresh financing from investors to pay for new equipment upgrades, bolstering the blockchain network’s resilience and reducing its reliance on Chinese operators.   More than $1 billion of new bitcoin-mining computers will be purchased for North American bitcoin mining in the next two years, several people familiar with the industry told CryptoX. That’s about five times the publicly traded mining-equipment maker Canaan’s revenue for all of 2019.  You’re reading First Mover, CryptoX’s daily markets…