Day: July 30, 2020

Tether Prints $300M USDT to Add to Tron Network, XRP into 3rd Spot

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Market leading stablecoin Tether has printed $300 Million USDT to replenish the Tron Network and cryptocurrency XRP reclaims 3rd position. The creation of new USDT and subsequent transaction onto the Tron blockchain was first flagged by the Twitter account Whale Alert which monitors and analyses high volume trading activity across the cryptocurrency market. Most of the so-called whale trades in this market occur in stablecoins rather than fiat and this was no exception. 💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 300,000,000 #USDT (299,651,480 USD) minted at Tether…

Five Years Later, the Ethereum DApp Ecosystem Looks Exactly as Predicted

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Ethereum’s fifth anniversary from the mainnet launch is upon us, marking an important milestone in the long history of the first smart contract platform to reach significant adoption. Following the initial coin offering mania, today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain. Ever since Ethereum’s founding, the application layer has been at the center of its value proposition. In a 2014 interview, Ethereum’s co-founder Vitalik Buterin illustrated that Ethereum is not just about the Ether currency,…

China Aims to Be the World’s Dominant Blockchain Power – With Help From Google, Amazon and Microsoft

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China’s blockchain infrastructure BSN is set to provide global access to its services next month. The network’s reliance on U.S. cloud service providers makes it vulnerable to geopolitical risks. Rising tension between the U.S. and China over the last several months could increase such risks. China’s developments in other technology areas have already met with resistance from the U.S. government. A state-backed blockchain infrastructure project from China aims to be the dominant internet services provider for decentralized applications (dapps). Its first-mover advantage is significant, as are the geopolitical risks.   The…

U.S. Tech Giants Face Tough Questions from Congress in Antitrust Hearing

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As the U.S. government seeks to kill monopoly in the U.S. tech ecosystem, the CEOs of Amazon, Apple, Google, and Facebook were drilled to clarify their anti-competitive behavior. U.S. top tech giants including the CEOs of Facebook Inc (NASDAQ: FB), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), and Google LLC (NASDAQ: GOOGL) (NASDAQ: GOOG) all faced the antitrust hearing in the United States Congress House Judiciary Antitrust Subcommittee on July 29. Each of the CEOs faced different scrutinies all bordering on their company’s actions to wade off competition. In…

PHG Stock Down 3%, Philips Launches Pre-Hospital Monitoring Solution

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Philips announced the launch of its remote monitoring and defibrillator solution dubbed Tempus ALS. PHG stock is down in the pre-market. Koninklijke Philips N.V. (NYSE: PHG) stock fell in the pre-market despite closing yesterday with a plus. Philips stock is 2.84% down in regards to yesterday’s close $54.13 (+3.09%). The company that is dubbed a global leader in health technology, has, however, not been largely affected by the coronavirus pandemic as generally observed in most markets. According to Philips stock historical metrics, its share value has been up 13.17% year…

Bitcoin and Ether Market Update July 30, 2020

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Total crypto market cap added $17.2 billion to its value since Monday morning and now stands at $324.6 billion. Top ten coins were mostly flat for the last 24 hours with Crypto.com Coin (CRO) adding 1.5 percent to its value while Cardano (ADA) lost 2.6 percent. At the time of writing bitcoin (BTC) is trading at $11,037 on the Bitstamp daily chart, while ether (ETH) moved to $317 and Ripple’s XRP climbed up to $0.241. BTC/USD Bitcoin continued to rise during the weekend of July 25-26 and successfully closed above…

IOTA Signals Bull Run After Forming Its First Weekly Golden Cross

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IOTA, a transaction settlement token for the Internet of Things (IoT), has surged by more than 400 percent from its March 2020 nadir. Its price rally this week led to the formation of its first Golden Cross on a weekly chart. Technically, the moving average crossover indicates a bullish continuation in the coming sessions. IOTA has just printed its first weekly golden cross. The 22nd-largest cryptocurrency saw its 20-weekly exponential moving average closing above its 50-weekly simple moving average this week for the first time since its listing. It is…

Bybit Will Donate 5% of Its 200 BTC Trading Event Prize to Charity

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Bybit has made a generous gesture ahead of its August trading event, World Series of Trading. The derivatives exchange has promised to donate 5% of the prize pool to UNICEF to help combat the effects of Covid-19. At current BTC prices, that means the organization is on course to receive over $110,000. The funds will go towards providing aid to children whose education and food supply has been affected by the second-order effects of coronavirus. “This is an exciting opportunity to partner with Bybit and better shape the lives of…

Billionaire Investor Believes Bitcoin Adoption Was Accelerated by The Pandemic

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The co-founder of Gemini Exchange, Tyler Winklevoss, said the ongoing pandemic situation is helping to boost Bitcoin adoption. In a recent tweet, Winklevoss described how the pandemic had uprooted life as we know it, in particular, its effect on the monetary system. This, he believes, is the foundation for more people buying into the Bitcoin narrative. The pandemic has catapulted us into the future. Hastening failure of offline retail, uptake in streaming, social media…also exposing structural problems w/ fiat, ballooning debt-to-GDP ratios, and likelihood of hyperinflation — which means it’s…

Blockchain Is Key to Future ‘Hyperconnected Economy,’ Say Researchers

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According to a report by market research firm HFS Research, blockchain technology will play a decisive role in establishing the future “hyperconnected economy.” A report excerpt recently released by HFS for Big Four auditing EY suggests that “we are hurtling toward a hyperconnected economy, and blockchain will provide the way to make it happen.” Blockchain facilitates large-scale collaboration The report explains that entire ecosystems are being developed across the services offered by different organizations. The researchers claim that “no single organization owns the entire customer experience, and competitors and peers…