Day: August 4, 2020

A Visit to This Crucial Support Region Could Start Bitcoin’s Next “Moon Mission”

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Bitcoin has faced some turbulence throughout the past couple of days. Following the benchmark cryptocurrency’s firm rejection at $12,000 this past weekend, it has largely been consolidating within the lower-$11,000 region. Yesterday, however, bulls attempted to spark a fresh leg higher. They sent BTC to highs of $11,500 before losing their momentum. From here, it retraced back to its $11,000 support level. This recent price action has resulted in the formation of a bearish “head and shoulders” pattern that can be seen while looking towards the cryptocurrency’s 4-hour chart. This…

Bitcoin News Roundup for August 4, 2020

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With investment opportunities in traditional markets drying up, bitcoin futures are drawing record interest. CoinDesk’s Markets Daily is back for your bitcoin news roundup! Surging open interest in crypto derivatives suggests investors are seeking alpha in other investments, such as bitcoin, said the co-founder of an index fund provider.   Another crypto hedge fund has called it quits, the teenage Twitter hacker reportedly had millions in bitcoin and Huobi sees DeFi as its next venture. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest…

Bitfinex Offers Up to $400M For Information Leading to BTC Stolen in 2016

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Crypto exchange Bitfinex is offering up to $400 million to anyone who can lead them to the hackers who stole over 120,000 Bitcoin (BTC) in August 2016. According to the company’s post on August 4, they are even willing to reward the hackers themselves. The people behind the 2016 attack breached the security systems of Bitfinex and managed to complete around 2072 unauthorized transactions. The company clarified that this is their “latest effort” to recover these stolen funds. Bitfinex explained how the reward will work: “Those who put Bitfinex in…

Tracing Fishy Risks With Blockchain Tech Amid the COVID-19 Pandemic

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COVID-19 is the most devastating plague to ravage humankind this century. Every day, the number of patients infected with the coronavirus is rising globally and taking the highest human toll in the United States. The highly infectious virus was first contracted in November 2019 in Wuhan, the capital city of China’s Hubei province, through horseshoe bat-to-human contact at the Huanan seafood market.  Many of the initial COVID-19 patients were either stall owners, market employees or regular visitors of the market, who rapidly developed a severe respiratory illness. Despite the market…

Ethereum 2.0 Testnet To Launch: Can The Blockchain Network Keep Up With The Surge in Demand?

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Over the last couple of months, Ethereum has been experiencing a lot of exciting news, with its rally on the crypto market and its plans to launch its final 2.0 testnet, “Medalla.”   What Explains The Higher Transaction Records on Ethereum?   The number of transactions on Ethereum has seen an all-time high and has shot up over the last few months. However, crypto experts are debating on whether the blockchain network can keep up and whether its scalability is reliable enough.      Crypto investors have been speculating that the higher number of transactions that have been ongoing on Ethereum’s…

Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report

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Hackers are reportedly selling the personal data of over a million Russians who voted electronically, using blockchain technology, during the recent constitutional amendment process. Over 1.1 million data points were stolen and put on sale for $1.50 each on the online forums, the Russian newspaper Kommersant wrote. The data, consisting exclusively of passport numbers, has little value on its own, the anonymous sellers admitted to Kommersant. But such data can be used for phishing attacks when combined with information from other leaked databases. Moscow’s Department of Information Technologies, which is…

AMZN Stock Rises 1.73%, Amazon Set to Buy 16% Stake in Deliveroo

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AMZN stock performed dismally on Monday in comparison to its competitors but it is up today. Amazon is going to buy a stake in Deliveroo and is expanding to Sweden. Amazon.com Inc (NASDAQ: AMZN) stock lost 1.67% on Monday and continued to fall in the pre-market on Tuesday. The shares were at around $3,098, 0.42% down. However, as the market opened, Amazon (AMZN) went up. At the time of writing, AMZN shares are at $3,165.74 (+1.73%). This rise can be explained by the news about the intentions of Amazon to…

Bitcoin Price Hits New All-Time High Against Turkish Lira

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A famous Bitcoin skeptic has called for a gold-backed currency to save Turkey as its national fiat currency collapses. In a tweet on Monday, John Hopkins professor Steve Hanke argued that hard money was now the only way out for Turkey, which has spent billions of dollars propping up the lira. Hanke: Turkey’s lira is “toast” At press time, those efforts were still in vain, as another day of intense selling sent the lira to a record low against various currencies including the euro and Bitcoin (BTC). Weakness in the…

NIO Stock Price Increases 2% Today as Nio Shows Rise in Deliveries

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Nio stock price is rising. Deliveries in July have reached record highs. The Chinese company may become a serious competitor to Elon Musk’s Tesla. Nio Inc (NYSE: NIO) stock price is slightly up in the pre-market as incoming data from the Tesla Inc (NASDAQ: TSLA) challenger indicated that business has been great. The company has shown higher deliveries of 3,533 cars in the past month. It represents a 322% rise from the same period last year. NIO stock price closed higher at the end of trading yesterday. At the time…

Binance to Launch Futures Trading in U.S. through Buying Licensed Firm

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Binance Futures has long been looking for ways to expand to the U.S. Now it may acquire a licensed firm to ensure conducting futures trading there.  Crypto exchange Binance is considering the launch of the futures trading platform in the U.S. According to anonymous sources, to do that, Binance would possibly acquire or partner with a licensed company. Binance Futures is the fastest-growing crypto-derivative exchange by trading volume. To date, its proven matching engine is unparalleled, it has the most stable and fastest matching engine in the industry. Binance Futures…