Day: August 3, 2020

Tesla (TSLA) Stock Is Said to Be Too Expensive but It Rises 3% Again

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Tesla (TSLA) stock is said to be too expensive, but it is up today again. With the company’s growth model, its shares may go more bullish Tesla Inc (NASDAQ: TSLA) has maintained its upward trajectory since it kicks off on an impressive run in the first four months of 2020. TSLA stock is arguably one of Wall Street’s most expensive and impressive brands this year even in the face of the global crises caused by the coronavirus pandemic. TSLA stock is often adjudged to be too expensive by Wall Street…

Institutional Traders on the CME are Still Bearish on Bitcoin; Here’s Why

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Bitcoin has been caught within the throes of a firm and unwavering bull trend throughout the past few weeks. After hovering within the lower-$9,000 region for over a month, the crypto’s breakout rally sent it as high as $12,000 this past weekend, at which point it met some insurmountable resistance. After declining back towards $11,000 the cryptocurrency has entered a consolidation phase as its buyers attempt to gain greater strength. Despite its overt strength, institutional traders on the CME still remain net-short on BTC – betting that its price is…

Bitcoin News Roundup for August 3, 2020

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After a flash-crashy weekend, CoinDesk’s Markets Daily is back with your quick daily update. Bitcoin investors look to have shrugged off Sunday’s sudden $1,400 price crash. Crypto traders didn’t have to be choosy to make money in July, when every digital asset in the CoinDesk 20 rose (except, of course, for the stablecoins). Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group,…

XRP Price Gains 40% in One Week But Can It Continue Rally to $0.50?

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Most markets are rallying since receiving a severe shakeout throughout the weekend, during which the price of Bitcoin (BTC) fell by $1,400 in minutes below the $11,000 level, liquidating $1 billion in futures along the way.  However, one of the most reliable coins in recent days has been Ripple’s XRP token as it rallied 40% in the past seven days and more than 70% from recent lows toward $0.30, as anticipated in the previous XRP technical analysis.  Now that the price target got hit, let’s take a look at the…

Wealthiest Families Growing Their Fortunes

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Despite the harsh economic conditions around due to the coronavirus market disruption, the world’s wealthiest families like the Waltons have seen their fortune skyrocket. As the world fights to reopen after months of coronavirus siege, a huge chunk of global businesses might not see the end of the storm. However, there are a chosen few that will be financially grateful for the virus as their fortune has grown immensely. Just take the world’s wealthiest family and their fortune growth amid the coronavirus pandemic. The Waltons, who are the Walmart heirs,…

As DeFi Booms, Yearn Finance (YFI) Shifts 100% of Token Supply to Users

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As Decentralized Finance protocols continue to grow on all fronts, their infrastructure grows alongside them.  While the total value of USD locked in DeFi recently hit a new all-time high at $4.23 billion, liquidity issues have also been a challenge and this led to the creation of decentralized liquidity pools like Uniswap and Balancer. These pools provide liquidity to DeFi platforms through smart contracts and offer interest to the liquidity providers. The latest DeFi boom is partially driven by the addition of reward incentives in lending and the rapidly increasing…

You Can Now Trade Litecoin on the Ethereum Blockchain With Kyber

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The Kyber Network, a decentralized, on-chain cryptocurrency exchange, has just listed the Ethereum-compatible pLTC token — a new cross-chain token developed by pTokens project. Announcing the news to Cointelegraph on Aug. 3, Kyber Network said that pLTC tokens will be accessible through KyberSwap and other decentralized apps, or DApps. They will also be available on platforms powered by Kyber’s on-chain liquidity protocol. pLTC is pegged to Litecoin The news comes shortly after pTokens launched pLTC token on the Ethereum mainnet on July 29. Similar to other “pTokens”, pLTC token aims…

Community-Verified Oracle Platform Aims to Better Chainlink’s Accuracy

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Oracle platforms, which provide links between blockchain smart contracts and trusted sources of real-world data, are a crucial component of many decentralized finance — or DeFi —  applications. With the meteoric rise of Chainlink (LINK) this year, one might be forgiven for thinking that it has the market all sewn up. But DeFi-focused challenger DIA (Decentralised Information Asset) claims that its community-verified data points can improve on Chainlink’s accuracy. Cointelegraph had an exclusive chat with CEO Michael Weber about why DIA is different, ahead of the platform’s token distribution starting…

Alleged Twitter Hack ‘Mastermind’ Owns $3 Million in Bitcoin, Bail Set at $725K

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Regional reports from Tampa show that the alleged “Mastermind” behind the July 15, Twitter hack owns more than $3.3 million dollars worth of bitcoin. While appearing on a video screen at the Hillsborough County Courthouse, the judge set 17-year old Graham Clark’s bail at $25,000 per 29 counts or $725,000. The teenager, Graham Clark, made headlines on Friday when he was charged with 30 counts of organized fraud, fraudulent use of personal information and communications fraud. U.S. law enforcement accused Clark of being the “mastermind” behind the July 15 Twitter…