Day: July 23, 2020

Blockchain Bites: Digital Dollars, Crypto Custody and Visa’s ‘Future of Money’ Involves Crypto

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The OCC will allow banks to custody crypto, Visa has a digital currency playbook and a digital dollar is essential to America’s economic edge, said experts at a U.S. Senate hearing. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CryptoX’s newsletters here.  Top shelf Digital Dollar HegemonyThe U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy conducted a hearing on “Winning the Economic Competition” between China and the U.S. on…

Altcoins Could Start “Draining” Their Value as Bitcoin Pushes Higher; Here’s Why

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Bitcoin’s price action has been overshadowed by the intense uptrends seen by many altcoins throughout the past few weeks. The benchmark cryptocurrency’s recent stability has provided an ideal backdrop for smaller crypto tokens to rally against, with investors draining BTC’s trading volume and liquidity as they shift their focus onto altcoins. This trend may not last for too much longer, as Bitcoin is now flashing some signs of strength. One analyst believes that the major digital assets – like Bitcoin and Ethereum – will “drain” the gains seen by altcoins…

Bitcoin News Roundup for July 23, 2020

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With bitcoin (BTC) finally breaking out and ether (ETH) up even more, CoinDesk’s Markets Daily is back with another crypto news roundup. After a rise over $9,500 on Wednesday, bitcoin looks set to climb toward the psychological price hurdle of $10,000. Here are three reasons why. U.S. regulators have cleared the way for national banks to provide cryptocurrency custody services on behalf of customers. The digital dollar again appeared during a Senate hearing. However, it wasn’t the focus of the hearing, but rather just another tool that can be used…

Charles Hoskinson Proposes Solution to Fix Twitter’s Problem, Taking Digital Identity to the Blockchain Age

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With the recent Twitter hack, implicating individuals including Elon Musk, Bill Gates, Joe Biden, and a few others, Cardano founder Charles Hoskinson spoke about the issue in his most recent Whiteboard video. In proposing a solution to this problem, Hoskinson suggested that Twitter does not need to “change much,” and that “Twitter works.” He added that Twitter does not need to make radical changes and that the authentication and verification process should be easy to use and understand.  In addition, the IOHK CEO said that the process should be built…

Why Interoperability Is the Key to Future Innovation and Adoption

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For years, tribalism has plagued the blockchain industry. Developers align to specific consensus protocols and defend technologies that use them, regardless of their limitations. These deeply rooted divisions are slowing the innovation needed to scale blockchain for future adoption.  The enterprise market is only beginning to understand the promise of blockchain, and that promise will be difficult to achieve until blockchains can communicate and cooperate with each other. To achieve this, developers, companies and hobbyists alike must be able to leverage every platform without being locked into one simply because…

Lithuanian Central Bank Launches Its Digital Collector LBCOIN

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Each LBCOIN issued by the Lithuanian Central Bank features one of the signatories of the Act of Independence. The LBCOIN digital collector coin has been launched by the Lithuanian Central Bank. It was issued in honor of Lithuania’s independence Act of 1918 and its 20 signatories. Powered by the NEM blockchain, the LBCOIN has six digital tokens for a single physical collector coin. With 4,000 physical coins issued, there are about 24,000 tokens available for collection. Here is how it works. When someone buys a physical coin for €99, he…

How OmiseGo (OMG)’s Entrance Into a Japanese Market Could Catalyze a New Uptrend

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The federal agency in charge of regulating digital assets in Japan, the Financial Services Agency (FSA), has given OMG Network, formerly known as OmiseGo, the green light for the sale of its native token in the nation. As a result, Japan-based cryptocurrency exchange GMO Coin announced in a recent blog post that it will list OMG on its retail trading platform. By adding support to this altcoin, the FSA-licensed cryptocurrency exchange opens the gates for a whole new market to buy, sell, and accumulate it. The move was welcomed by…

TSLA Stock Up 1%, Analyst Doubles Down on Bear Predictions for Tesla

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After earlier predicting a bear target price for Tesla, Brian Johnson recently made more negative comments on the company’s stock and sales. TSLA stock is up today. Barclays auto analyst Brian Johnson recently made bear comments on Tesla Inc (NASDAQ: TSLA) and the possibility of a fourth-quarter stock plunge. Earlier in February, the analyst predicted a $300 bear price target on the shares of Electric Vehicle (EV) maker. However, the automaker has been increasing its sales and stock price. With Tesla trading at a pre-market price of $1,646.01 and at a…

Ethereum Price Around $260 on July 23, ETH Growth on a Halt

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On Thursday, July 23, Ethereum price that was moving higher just yesterday consolidated near $260-265. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. On W1, ETH/USD keeps developing an uptrend. The price bounced off 50.0% Fibo and broke away 61.8%. The growth may further develop to the nearest resistance level – $285.00 USD. The MACD histogram has been above zero for several weeks, which may mean the development of the ascending dynamics. The signal lines of the indicator have formed a Golden Cross under zero, demonstrating the prevalence of buys over sales.…

Japanese Liquid Exchange to Delist Zcash to Get Licensed in Singapore

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Japanese cryptocurrency exchange Liquid is reportedly delisting privacy-focused coin Zcash (ZEC) in order to apply for a license to operate in Singapore. The Electric Coin Company, which develops the Zcash cryptocurrency, announced the news in a July 22 tweet. They elaborated that Zcash will be delisted from Liquid alongside 28 other tokens. Liquid, which recently ranked #6 among top tier exchanges on CryptoCompare, has not yet posted an official statement on whether they plan to delist Zcash. Cointelegraph reached out to the exchange with more queries and will update the…