The on-chain metric suggests Bitcoin is garnering users despite the cryptocurrency’s extended period of comatose price action. Original
Bitcoin ‘Active Entities’ at Highest Since 2017 Bull Run
Day: July 22, 2020
Hester Peirce Declares Displeasure with SEC Actions againts Telegram
Peirce revealed her disapproval of the earlier SEC actions against the 2018 Telegram ICO. The action caused Telegram to abandon its TON blockchain project. United States Securities and Exchange Commission (SEC) commissioner Hester Peirce slammed the SEC for filing a lawsuit against Telegram. The SEC brought the lawsuit against the company for running an unregistered Initial Coin Offering (ICO), which raised $1.7 billion. Peirce said the SEC’s action was wrong and will only discourage innovators from founding businesses in the U.S. Peirce Opposes SEC Position Towards Telegram Hester Peirce, also…
Bitcoin Rally Will Continue, Analyst Asserts With Three Bullish Indicators
Bitcoin expects to hold its long-term bullish bias as long as it trading above $8,800, according to market analyst Mohit Sorout. Bitazu Capital’s founding partner based his analogy on three bullish technical indicators, each signifying a favorable buying sentiment in the cryptocurrency market. A modest rally in the Bitcoin market on Tuesday promised to improve its short-term outlook. A day later, the cryptocurrency corrected lower on profit-taking sentiment, signaling it may negate all its recent gains in favors of bears. However, Mohit Sorout believes the next Bitcoin plunge will do…
India Leads P2P Volume Records Among Emerging Markets
Half a dozen emerging markets have established new records for weekly peer-to-peer (P2P) Bitcoin (BTC) trading, including India, Ghana, the Philippines, Argentina, Mexico and Egypt, according to data published by Useful Tulips. India comprised the strongest market to post a new record for trade activity, with $3.4 million worth of BTC trading hands over the past seven days. India’s P2P markets began gaining significant momentum from the second quarter onwards, with Indian volume beating out its December 2017 all-time high of $2.95 million last month before consistently rallying above $3…
Bitcoin to Hit $1T in Settlement in 2020, Stablecoins Gaining Momentum
Bitcoin is going to reach $1 trillion in settlement in 2020, while stablecoins have already seen their biggest year ever. The stablecoin monetary base increased by $3.8 billion. Cryptocurrency public blockchains will work out more in this year than ever before and have already surpassed $1.3 trillion, according to data by analytics firm Messari. The company reported on July 21 that the figures are showing Bitcoin (BTC) managed to hit $712 billion in settlement so far this year, while Ether (ETH) stands at $147 billion. The Ethereum network, which supports…
UNICEF invested in 100 startups. Could your blockchain project be next?
Only through greater alignment between innovative private sector entities and public sector goals will we meet the urgent needs of children around the world and achieve the United Nations Sustainable Development Goals. Unicef — the U.N. agency for children — recognizes that we need to be creative in how we reach those that we serve. That’s why the Unicef Innovation Fund is looking to support more projects to accelerate progress in creating a safer, healthier, more inclusive world for children. Since 2016, we’ve been making investments into early-stage projects around…
Philippines Becomes the First to Leverage Blockchain to Issue Retail Treasury Bonds in Asia
The Filipino government has launched a blockchain-based app that will be utilized in the distribution of government-issued bonds. The novel project dubbed Bonds.PH was developed by the country’s Bureau of Treasury in conjunction with Union Bank and the Philippines Digital Asset Exchange. The mobile app will help provide comprehensive access to the investment opportunity as the country looks to raise funds to ease the economic effects of the coronavirus pandemic. The Philippines has a positive disposition toward blockchain technology and cryptocurrencies. Recently, the country has sponsored an initiative that employs…
On-Chain Metric Signals the Bitcoin Market Isn’t Overheated: Why This Is Bullish
Despite the recent stagnation, Bitcoin is still up by over 150% from the capitulation lows of March’s crash. By the standards, that means that BTC’s nascent market is at exuberant levels — especially considering the dismal state of the world economy. Chart of BTC’s price action since the start of the year from TradingView.com But on-chain data shows that BTC is not yet in an “overheated” market, leaving room for the leading cryptocurrency to appreciate in the months ahead. Related Reading: BTC Just Confirmed a Signal That Preceded Historical 5,000% Rallies…
Leading Blockchain VC Fund NEM Ventures Announces Investment in Chile’s SharpShark to Empower Creators With a Copyright and Intellectual Property Timestamping Solution
The venture capital and investment arm of the NEM blockchain ecosystem NEM Ventures has made a strategic investment in blockchain-powered timestamping solution SharpShark who protect creators’ copyrights while enabling the transfer and tokenization of intellectual property, and the auto-monitoring of violations. Built on Symbol by NEM, SharpShark provides a decentralized solution to protect text and image copyrights — by timestamping, saving in full, and tokenizing intellectual property. SharpShark is designed for creators ranging from writers, academics and journalists to photographers, artists and designers. The solution publishes the digital signature of…
South Korea Finalizes Cryptocurrency Income Tax of 20%
The South Korean government has announced a 20% tax rate for income generated from cryptocurrency trading. Following a Tax Development Review Committee meeting on July 22, the Ministry of Economy and Finance published its revised tax code detailing the new rules. In a section headed, “Taxation on Virtual Asset Transaction Income,” the ministry introduced the new rules with a note that at present, both personal (resident and non-resident) and foreign corporations’ virtual assets are non-taxable. The government states that introducing taxation for virtual assets is now necessary, pointing to the…