Day: August 3, 2020

Binance Coin Up 20% on DeFi IEO Hype; Pullback Ahead?

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Binance’s native token BNB surged by more than 20 percent after its CEO Changpeng Zhao announced his plans to launch an in-house decentralized finance product. The BNB/USD exchange rate on Sunday established its quarter-to-date high at $22.94. It is now looking to extend its upside momentum towards $27, according to many crypto-analysts. BNB, the native token of the world’s leading cryptocurrency exchange, Binance, has surged by more than 20 percent following July 24, 2020. It is the same date on which Binance’s CEO, Changpeng Zhao, announced that they would launch…

Ethereum Classic Gives Update on Controversial 51% Attack

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Ethereum Classic suffered a 51% attack in the early hours of August 1st. A blog post from the ETC Cooperative said attackers flooded the network with offline mined blocks. As a result, the network was unable to process the volume of transactions, leading to a reorganization of the chain and split between nodes. “Miner 0x75d1e5477f1fdaad6e0e3d433ab69b08c482f14e released around 12 hours worth of offline mined blocks leading to a major reorg. OpenEthereum nodes were unable to cope with that large a reorg, leading to a chain split with OpenEthereum nodes on one…

European Union Looks to Copy U.S. in Big 4 Tech Antitrust Hearing

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The European Union wants to conduct another antitrust hearing with the U.S. big 4 tech companies and review the tax laws governing digital companies in the region. The European Union parliament is looking forward to conducting an antitrust hearing involving the U.S. big four tech companies, Facebook Inc (NASDAQ: FB), Google LLC (NASDAQ: GOOGL), Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN). Drawing on the premise that current antitrust laws in the United States is incapable of broadly covering the operational model of tech companies, the United States lawmakers…

US Deadlock Over Stimulus Keeps Bitcoin Cautious; What to Expect?

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Bitcoin began trading cautiously on Monday as US lawmakers struggled to finalize a stimulus plan following its expiry on July 31. The critical point of difference between Democrats and Republicans continues to be the proposed $1,200 assistance for the unemployed. A final stimulus announcement could put more downside pressure on the US dollar, which, in turn, could help Bitcoin to rise higher. Bitcoin started Monday on a cautious note as investors waited for the US lawmakers to finalize the next stimulus bill. Democrats and Republicans laid out their competing versions…

Decade In Review: A Crypto Timeline To Remember

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Virtual currencies have just completed a decade long timeline of its first existence. Bitcoin was first introduced in 2009 with the intention of having a peer to peer decentralized transaction. Since then it has gained traction and now has the highest market capitalization by value. Many cryptocurrencies came later such as Ethereum which launched in 2015 with the platform built for building up applications using blockchain technology. Cryptocurrency Journey Explained   A decade long experience for cryptocurrencies came with its ups and downs with many predicting it as a short…

Bitcoin, Ether, and XRP Weekly Market Update August 03, 2020

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The total crypto market cap added $31.8 billion to its value for the last seven days and now stands at $338.6 billion. The top 10 currencies were mostly in green for the same period with Ripple’s XRP adding 36.5 percent to its value while Cardano (ADA) lost 9 percent. By the time of writing bitcoin (BTC) is trading at $11,125 while ether (ETH) skyrocketed to $380. Ripple’s XRP climbed up to $0.293. BTC/USD Bitcoin continued to rise during the weekend of July 25-26 and successfully closed above the $9,500-$9,600 resistance…

Charlie Lee, Adam Back Lead $3.1M Private Token Raise for Blockchain Game ‘Infinite Fleet’

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Online space strategy game “Infinite Fleet,” developed by Pixelmatic, has raised $3.1 million through a private security token offering (STO). 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, which invests in cryptocurrencies and blockchain startups. Source link

Tel Aviv Stock Exchange to Launch Blockchain Securities Platform

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The Tel Aviv Stock Exchange (TASE) plans to launch its blockchain-based securities lending pool in November. In an announcement on July 28, TASE said the platform will serve an essential function in the country’s capital markets, which currently lack a central system for securities lending. Contrary to the current set-up —— which fails to meet the needs of investors, in TASE’s view — the new blockchain-based system will concentrate all securities lending activities under one roof and enable direct borrowing among investors across a range of major financial instruments. Tried…

XRP Could Crash 50% as Price Undergoes Critical Rejection: Analyst

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Last week, analysts thought XRP was on the verge of a massive breakout. Against the dollar and against Bitcoin, the leading altcoin saw an explosive breakout that reminded some of the start of the infamous 2017/2018 pump. Yet on Saturday night, just before the weekly close, the asset underwent a strong drop, as did many other altcoins. An analyst says that this drop confirmed that a macro “bearish retest” has formed on XRP’s macro chart against Bitcoin. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, DeFi…