Day: July 22, 2020

Ethereum at $243 Is “Hilarious,” Says Analyst as ETH2 and Staking Near

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Since the start of the year, Ethereum has done rather well. Per data from TradingView, the leading altcoin is trading approximately 80% higher than the price it started 2020 at. Analysts expect ETH to rally further in the months and years ahead as the underlying network’s fundamentals lend to increased demand for the asset. One fund manager and analyst in the space, in fact, went as far as to say that at $243, Ethereum’s price is “hilarious.” Related Reading: Crypto Tidbits: Twitter’s “BTC Scam,” Elon Musk & Dogecoin, Institutions Want BTC…

Apple Co-Founder Steve Wozniak Sues YouTube Over Bitcoin Giveaway Scams

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Apple co-founder Steve Wozniak is suing video-sharing giant YouTube and its parent company Google for allegedly allowing bitcoin giveaway scams that use his likeness to thrive on its platform.  Wozniak was one of 18 plaintiffs that filed the lawsuit on Tuesday, which seeks punitive damages, a trial by jury and demands YouTube remove all bitcoin giveaway scams and promotions using Wozniak’s name and likeness.  The suit praised Twitter for acting “swiftly and decisively” to shut down malicious accounts and “protect its users from the scam” referencing the platform’s response to…

Ethereum Rips 8% Higher in Five Minutes as Crypto Bulls Return

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In the past five minutes, Ethereum has surged dramatically higher. According to data from TradingView, the asset is up by approximately 8% in the past five minutes, trading at $269 for the first time in months. Ethereum price chart from TradingView.com This extremely strong performance comes minutes after prominent crypto analysts called for a strong breakout as the asset neared $250. $250 has been a pivotal resistance for Ethereum over the past few years, acting as a range high on multiple occasions. The fact that the asset surged past it…

Tether (USDT) Daily Transaction Volumes Could Soon Exceed Bitcoin’s

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Data shows the daily volumes for Tether – a controversial stablecoin pegged 1:1 with the U.S. dollar – could soon exceed those of Bitcoin’s. Tether to Soon Eclipse Bitcoin What was to be a mere stablecoin turned out to challenge Bitcoin, at least as a transactional tool. Tether (USDT), one of the crypto market’s first stablecoins, is within striking distance of exceeding Bitcoin’s daily transactional volume. Bloomberg reported Wednesday the stablecoin’s transactional value rose above Bitcoin’s in June 2020. This, despite Tether’s long-standing legal tussles with New York state. Citing…

It’s Good For BTC When The Fed Prints Money

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U.S. government spending may lead to upward Bitcoin (BTC) prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss.  “The Fed continues to set the stage for bitcoin’s next bull run,” Winklevoss said in a July 22 tweet, which included an article link on the government agency’s discussions of further stimulus spending.   Bitcoin holds against inflation As a decentralized borderless digital asset away from government control, Bitcoin holds as a potential hedge to mainstream markets and national dollars — a point often stressed by a number of crypto industry…

Conflux Network — China’s State-Endorsed Public, Permissionless Blockchain Project Launches Quarter Billion Grant Program For Innovation

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Conflux Network, who claim to be the only state-endorsed public, permissionless blockchain project in China — backed by the likes of Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission has launched its Conflux Ecosystem Grants Program worth some quarter of a billion US dollars to blockchain innovators. “This grants program serves as our latest initiative to seek out the most innovative developers and projects as we continue to build out our vibrant ecosystem,” said Eden Dhaliwal, Global Managing Director at Conflux…

University of York Confirms Recent Data Breach Was Caused by Ransomware

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The University of York has confirmed that a ransomware attack from an unnamed gang took place in May. Vulnerabilities from their third-party service provider led to the data breach. According to an announcement via the University’s website, Blackbaud, one of the world’s largest customer relationship management systems for sectors such as the education, confirmed that the cybercriminals managed to extract copies of staff, alumni, and student records. The university clarified that no sensitive information, such as banking details or login credentials, were stolen by the gang. Overall, the hackers captured…

Bank of Korea Launches a Department Devoted to Blockchain and AI

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The Bank of Korea has reportedly chosen to establish a “Digital Innovation department” through organizational reform in the second half of this year, according to the local news on July 22.  Leveraging innovative technologies for efficiency  The Bank plans to introduce a number of different technologies, such as artificial intelligence and blockchain, through the digital innovation department. The department will perform tasks such as implementing new digital technology policies and expanding the latest digital infrastructure. An official from Bank of Korea commented that:   “We will improve work efficiency by applying…

Is Bitcoin Price Really Influenced by the Grayscale GBTC Premium?

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Recently the Grayscale Bitcoin Trust Fund (GBTC) premium to net asset value (NAV) reached its lowest level since November 2018. This premium shows that traders are paying more for GBTC shares than the underlying Bitcoin (BTC) quantity held by the fund. This difference is caused mostly due to retail investors inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively for accredited investors. Currently, GBTC is the largest cryptocurrency listed investment fund with $3.5 billion assets under management, totaling over 386,000 BTC under custody. Therefore, it is…

Aave (LEND) Parabola Breaks, Could An Over 80% Correction Follow?

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After a substantial, over 675% two-month rally, the altcoin called Aave may finally about to be tamed. A parabolic curve the crypto asset has been following has now been breached, and as we’ve learned from the crypto bubble, a potential 80% or more correction is possible. Is the powerful LEND trend ready to come to a bitter and abrupt end? Aave DeFi Token Defies Gravity With Over 675% Two-Month Rally DeFi tokens have been unstoppable lately, with a new finance-focused altcoin stealing the limelight each passing week. Since the start…