Day: July 30, 2020

Ethereum Above $325 Could Trigger A Fresh Rally Towards $350

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Ethereum is currently consolidating gains above the $307 and $310 support levels against the US Dollar. ETH price must surpass the $325 resistance zone to trigger a fresh rally. Ethereum is holding a couple of important supports above the $307 and $310 levels. The price is facing a crucial resistance near the $322 and $325 levels, but it is above the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $321 on the hourly chart of ETH/USD (data feed via Kraken). The pair must…

KODK Stock Up 300%, Trump Grants $765M to Kodak Pharmaceuticals

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Kodak gets massive state-backing from the Trump administration to manufacture generic drugs inhouse and reduce its dependency on sourcing APIs from China. From making camera lenses to making drugs, Eastman Kodak is all set to be back in the market! On Wednesday, July 29, Eastman Kodak Company (NYSE: KODK) stock saw a massive rally jumping over 300% in a single day. The massive Kodak stock rally comes as U.S. President Donald Trump announced a complete makeover of the company to now being a pharmaceutical producer. On Tuesday, the Trump administration…

Theta Partners With Korean Gaming Platform to Reward Its 3M Users

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The crypto-powered Esports streaming platform Theta has partnered with South Korean social gaming platform Ludena Protocol to reward its gamers for viewing or streaming content. The partnership will see Theta protocol integrated into GameTalkTalk, Ludena’s first decentralized application (DApp) — allowing the gaming-centric social platform’s more than three million users to access Theta’s streaming services through the platform. Ludena’s users will be rewarded for engagement in the form of Theta’s TFUEL token. Theta TV to integrate GameTalkTalk The agreement will see an exclusive GameTalkTalk channel added to Theta’s streaming platform,…

Ripple (XRP) Consolidating Gains: Here’s What Could Trigger Another Rally

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Ripple extended its upward move towards the $0.2500 resistance against the US Dollar. XRP price is currently consolidating gains above $0.2400 and it might start another increase. Ripple gained bullish momentum above the $0.2400 and $0.2420 resistance levels against the US dollar. The price traded to a new monthly high at $0.2500 and settled well above the 100 hourly SMA. There is a key connecting bullish trend line forming with support near $0.2380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is consolidating gains…

Iranian Authorities Greenlight Power Plants Mining Bitcoin

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Iran has announced that it will now allow industrial-scale power plants in the country to operate as Bitcoin miners —- provided they don’t use subsidized fuel. In a statement to the Islamic Republic News Agency (IRNA) on July 27, Mostafa Rajabi Mashhadi, a Deputy Managing Director at Tavanir, Iran’s Power Generation, Transmission and Distribution Management Company, said power plants in the country could operate as Bitcoin mines “if they comply with approved tariffs” and have the necessary licenses. Mashhadi said that any power plant considering such a venture could not…

Curve’s Daily Volume Increases 50x in Two Months

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Decentralized finance (DeFi) liquidity pools continue to surge in popularity, with the Curve Finance decentralized exchange (DEX) consistently hosting more than $60 million in daily volume for the first time this past week, according to Dune Analytics. With daily volume closer to $1 million at the start of June, the explosive hype surrounding yield farming propelled an increase in trade activity of more than 50 times in just two months. Curve daily trade volume: Dune Analytics Curve’s growth has seen the platform emerge as the second-largest decentralized exchange by trade…

Can Bulls Save The Day?

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Bitcoin is struggling to stay above the $11,200 resistance level against the US Dollar. BTC is currently correcting lower and it could continue to move down towards $10,700. Bitcoin is slowly moving lower after forming an intraday high near the $11,349 level. A couple of back-to-back candles suggest that the price might continue lower towards $10,700. There was a break below a key bullish trend line with support near $11,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $10,700 support…

Could Australia Become Asia’s Crypto Derivatives Hub?

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With Australian DeFi projects surging, the CEO of crypto exchange Mine Digital said he believes the nation could become a future hub for crypto derivatives in Asia. CEO Grant Colthup made the comments in a webinar hosted on July 29 by Melbourne’s Apollo Capital regarding digital asset infrastructure. Colthorp said many institutional investors in Australia were interested in crypto but were still skittish about getting away from “brick and mortar” financial establishments.  But he said crypto derivatives projects across Asian countries have the potential to move into Australia. Cothlup cited…

Polyient Games Launches Avalanche-Based DEX for Collectibles

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Ava Labs, the development team behind the Avalanche blockchain has teamed up with non-fungible token (NFT)-focussed investment firm Polyient Games to launch a decentralized exchange (DEX) for crypto collectibles. Polyient’s NFT exchange will be powered by the Avalanche blockchain and will exist within the firm’s forthcoming Polyient Games Marketplace. The exchange is slated to host exclusive NFT auctions and peer-to-peer trading, with plans for “more liquid NFT trading products” and “NFT-adjacent tokens” in the future. Polyient’s native utility and rewards token, PGFK Particles (XPGPs), will be used to power the…

Cardano Reaches “Orbit” as Shelley Launches Successfully: Charles Hoskinson

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Cardano developers and stakeholders rolled out the main net for the Shelley upgrade today, marking a shift to a more federated blockchain with staking enabled for all. Blockchain founder Charles Hoskinson announced his excitement in a tweet published just an hour ago. Emphasis his, Hoskinson wrote: “We have reached Orbit. Shelley Hard Fork is Successful. When Shelley? Now!!!!!!!!!! Shelley has fully launched.” We have reached Orbit. Shelley Hard Fork is Successful. When Shelley? Now!!!!!!!!!! Shelley has fully launched https://t.co/ckuiVJfqnZ pic.twitter.com/jPYG7f5FOq — Charles Hoskinson (@IOHK_Charles) July 29, 2020 The launch comes…