Day: August 5, 2020

Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update

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Square’s bitcoin business is booming, lawmakers are batting for crypto staking protocols and a blockchain-based voting system in Russia may have been hacked. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Bitcoin RevenuesSquare’s bitcoin business is booming. Announcing Tuesday, the San Francisco payments company said revenue made from selling bitcoin to Cash App customers during the second quarter came to a total of $875 million – up 600%…

Bitcoin is Becoming an Inflation Hedge, and It’s Driving BTC Higher; Claims Analyst

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Bitcoin’s status as a hard asset is growing clearer by the day. It has even resulted in the cryptocurrency forming a striking correlation to gold, silver, and other traditional “safe havens.” One byproduct of this has been a degrading correlation to the stock market, which may ultimately bode incredibly well for the benchmark cryptocurrency – despite the equity market’s current strength. While speaking about these shifting BTC correlations, one analyst explained that this is a highly bullish trend that is likely to provide its price with a boost in the…

Bitcoin News Roundup for Aug. 5, 2020

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With BTC pushing towards $12,000 and gold at record highs, CoinDesk’s Markets Daily is back for your crypto news roundup! Bitcoin is again acting like a macro asset, drawing bids amid record rally in gold and broad-based U.S. dollar sell-off. Jack Dorsey’s Square has seen one of the largest quarterly increases yet for its bitcoin business. Square Crypto and the Human Rights Foundation are continuing their support for an open-source Bitcoin developer community with new contributor grants. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives…

How Blockchain Technology Can be Used to Leverage Booming TikTok and Influencer Trends

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Blockchain technology has been a growing hot topic, with companies integrating it more and more into their ecosystem for better security, decentralization, and lower costs, among other things.   Influencer and Online Coverage: It All Comes with a Price   In this day and age, a hot trend that has been adopted and popularized by Gen–Z and millennials is content creation through platforms such as Instagram and TikTok.    Though it appears that content creation is purely for entertainment purposes, content creators are more often than not financially rewarded by companies hiring their services for marketing and sales purposes. It can arguably…

MiL.k’s MLK Lists on Kucoin as Blockchain Loyalty Platform Levels Up

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Blockchain rewards platform MiL.k has maintained its impressive run through 2020 by securing a listing for Milk Coin (MLK) on KuCoin. The native token of MiL.k Alliance will be available for trading from August 6 on the cryptocurrency exchange, paired against BTC and USDT. The listing will add liquidity to the MLK token while extending the utility of MiL.k’s blockchain rewards platform. Having built a solid foundation within South Korea, where the project was founded, MiL.k is now extending its goal of an interchangeable loyalty points platform to a global…

Pavel Durov Denies He’s Selling Telegram Following TON Failure

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Pavel Durov, CEO of the popular encrypted messaging platform, Telegram, has denied reports that the firm is preparing to sell the company after the failure of Telegram’s blockchain project. According to an Aug. 5 report by local tech publication iXBT, Russia’s internet company Mail.ru is one of the parties interested in acquiring Telegram. Another is an as yet unidentified Russian billionaire. The information was reportedly shared by Russia-based trader and analyst, Kirill Promzin. As reported by iXBT, Promzin predicted Bitcoin’s 2017 bull run back in 2012, even calling the asset’s…

NVAX Stock Up 13%, Novavax COVID-19 Vaccine Shows Good Results

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Scientists have Novavax’s vaccine results to be impressive and exemplary. If the company gets more leads going ahead, it promises of producing 100 million doses by the start of 2021. On Tuesday, August 4, biotechnology company Novavax Inc (NASDAQ: NVAX) announced that it has found major success in the early-stage clinical trials for its coronavirus vaccine. Novavax said that its COVID-19 vaccine showed stellar immune response during the early-stage trials. The phase one trial saw over 131 healthy participants between a diverse age range of 18 to 59. Of these,…

Coca-Cola Adopts Blockchain to Make Supply Chain More Transparent

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A major partner of the Coca-Cola bottling company CONA will implement the Baseline protocol to improve transparency across the supply chain. The partner of the largest Coca-Cola Co (NYSE: KO) bottling company in the United States looks to widen its use of blockchain technology across the entire sphere of the company’s supply chain. A major partner of the Coca-Cola bottling company, Coke One North America (CONA), situated in the United States, will begin to implement the Baseline protocol as a viable means to improve the transparency and reduce friction in…

Ethereum Could Soon Set “New Highs” as $400 Resistance Weakens: Analyst

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Ethereum has bounced back quickly after last weekend’s 26% crash from its highs. As of the time of this article’s writing, the leading cryptocurrency has a price of $399 — just 4% below the year-to-date high. Analysts say that pressure is building for a large move higher as the $400 resistance comes under fire. Further boosting the Ethereum bull case is a slew of fundamentals, including the growth in decentralized finance and accumulation of ETH by institutions. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, DeFi Still…

Square’s Cash App Reports $17 Million Bitcoin Gross Profit in Q2 2020

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Jack Dorsey’s Square has announced on August 4, 2020, that it generated a massive $875 million in bitcoin (BTC) revenue via its Cash App platform in the second quarter of 2020. The firm’s report shows that over 30 million people used Cash App in June, with more than seven million users transacting with the Cash Card in the same period. Square Bitcoin Revenue Surges in Q2 2020 These are exciting times indeed for Jack Dorsey’s Square and its shareholders, as the firm has released its Q2 2020 financial report showing…