Day: August 8, 2020

the Rally to $11,500 Likely the Start of a Greater Move

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Bitcoin has stalled in the high-$11,000s over the past few days after the cryptocurrency faced its second rejection at $12,000. As of the time of this article’s writing, the cryptocurrency trades for $11,650. This is a price above critical support levels such as $10,500 and $11,500, but it is clear that the uptrend Bitcoin was embroiled in has slowed. Chart of BTC’s price action over the past two weeks from TradingView.com Derivatives data, though, suggests that the leading cryptocurrency may soon move higher. Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k,…

Kava Labs Partners with BNB48 Club to Raise BNB DeFi Awareness

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Kava Labs announced a new collaboration with the BNB investor club – BNB48.  The popular platform added in a press release that under the agreement, BNB48 will act as a technical advisor for the Kava community and provide services such as professional product reviews and technical consulting services for Kava’s Chinese validators, staking users, and lending platform users. From its part, Kava Labs will work with the BNB48 Club to raise awareness of BNB DeFi opportunities and assist BNB48 Club to increase its community members participating in DeFi. Kava Labs…

Real Estate Blockchain Firm Ubitquity to Build Tokenized Title Platform

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Real estate blockchain platform developer Ubitquity will build a platform for creating tokenized property titles with Rainier Title, a news report said.  The platform will also log records of conveyance for the Washington-based Rainier Title. It will integrate with the conveyance suite Qualia. Rainier Title is currently in the process of migrating to Qualia.  Tokens created through the platform represent a client’s property so title owners have more opportunities to develop new value like a fractionalized ownership investment in the real estate. Ubitquity said in a statement that having tokens…

Here’s Why Analysts Expect Bitcoin to Plunge Towards $10,300 Next

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Bitcoin has been consolidating within the upper-$11,000 region for the past several days. Its ongoing bout of sideways trading first came about last weekend when it faced a firm rejection at $12,000. The selling pressure here has proven to be insurmountable ever since, and traders are now shifting their focus towards smaller altcoins – which have been posting massive gains throughout the past several days. Where Bitcoin trends next may depend largely on whether or not buyers can close the daily candle today and weekly candle tomorrow above $11,700. Analysts…

Chainlink (LINK) Erupts to $13 as Buyers Continue to Rush In

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Chainlink (LINK) has continued to surge higher since NewsBTC’s last market update. Just minutes ago, as per data from TradingView, the cost of the popular altcoin crossed above $13 just minutes ago, reaching a local high of $13.60. LINK is clearly in a price discovery phase, with no historical resistances to suppress its price action. Related Reading: XRP Breaking Past This Crucial Resistance Could Trigger 45% Rally: Trader Chainlink Erupts to $13 Just minutes ago, Chainlink crossed $13 for the first time in its storied history. The cryptocurrency is now up…

Cryptocurrency News From Japan: August 2

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This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese authorities proposing tax changes, and Japanese finance company FISCO developing apps for shareholder voting and staking.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck setting up for digital shareholder service  As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange’s co-founder expressed confidence in the project. Known as Sharely, unveiled in…

Chainlink Prints Striking Bearish Reversal Signal After Surging to $11

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While Bitcoin and Ethereum have stagnated over recent days, Chainlink (LINK) has seen a strong uptrend. As reported by NewsBTC previously, the asset set multiple milestones over the past week, pushing past $9, then $10. Just minutes ago as of the time of this article’s writing, the altcoin cracked the $11 resistance level. Chainlink now trades for $11.60 — a price 18.3% higher than it was just 24 hours ago. The chart below from TradingView depicts the explosive price action well. Chainlink’s latest leg higher has made the cryptocurrency the…

Polish Financial Watchdog Impersonated by Crypto Scammers

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The Polish Financial Supervision Authority, or PFSA, issued a warning on the surge of scammers offering fake crypto investment opportunities, which they claim to be the only authorized investment fund in Poland. The scammers call potential victims by asking them to sell or buy cryptocurrencies through the fake fund, but first, they should send the cryptos to the PFSA compliance team’s wallet to verify the legality of the transactions and then, the regulator clears the payment to be deposited in the unexistent fund. The watchdog has been aggressive towards crypto…

Chinese State Grid Launches Blockchain-Based Blackout Insurance Policy

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A branch of China’s state-backed grid released its first blockchain-powered blackout insurance policy issued to the chairman of a local company that needed to compensate for a power outage loss suffered recently. According to Shupeidian, Zhejiang Ningbo Power Supply Company, in partnership with Yingda Taihe Property Insurance Co., Ltd., released the policy to a sprinkler manufacturing company in Ningbo, Zhejiang province. Both companies believe that the process of issuing insurance via a blockchain network provides a commercial solution to compensate for the loss caused by an electric outage in a…

Mobile DeFi and the Shift Toward Self-Sovereignty

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Many speculate that mainstream adoption of cryptocurrency is dependent solely on improving ease of access and user experience. In reality, there’s an even bigger obstacle: a mentality shift.  Self-sovereignty and personal autonomy are the endgame of this technology, and with that goal comes a significant increase in personal responsibility for one’s funds. This is totally at odds with people’s traditional financial experience so far; the legacy system takes away your autonomy and replaces it with convenience, offering useful tools related to fraud protection and password management. By comparison, cryptocurrencies, decentralized…