Day: August 10, 2020

Laws Of Parabola Suggest Surging BAND Crypto At Risk Of Deep Correction

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Band protocol may be following in Chainlink’s fiery footsteps, rising nearly 9000% in the last few months. The crypto altcoin has gone fully parabolic, which has rewarded early investors handsomely. However, when parabolic advances break down, they often correct by 80% or more. Is the altcoin headed towards a deep correction, or will the asset simply keep on climbing? Top Crypto Asset Go Parabolic, Past Data Suggests Risk Of Correction Increases By The Day What goes up, must come down. The bigger they are, the harder they fall. So many…

Crypto OG HempCoin Relisted by Bittrex After Year in the Wilderness

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HempCoin (THC), one of the first 30 cryptocurrencies ever created, has been relisted by cryptocurrency exchange Bittrex. Before being delisted in 2019, HempCoin was a top-100 token on CoinMarketCap, trading over $10 million a day. HempCoin founder and CEO Tim Renzetti spoke to Cointelegraph about the coin’s rejuvenation and his plans for future development of the platform. Renzetti first discovered crypto in 2013 and started the HempCoin blockchain as a community project in December of that year. This preempted the farm bill of 2018, which paved the way for the…

Bitcoin’s Hash Rate Remains Flat Despite Major Price Rally

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Bitcoin (BTC) mining activity doesn’t seem to be reacting to the recent price rally that took the asset from approximately $9,000 in early July to almost $12,000 at time of publication. According to data from Coinmetrics, hashrate spiked around July 7 and has remained largely flat amid fluctuations to the downside.  Bitcoin Hashrate (green) vs. Difficulty (red), 7-day average. Source: Coinmetrics The hashrate represents the sum total of all miners attempting to find hashes that would create new valid blocks. There is generally a strong correlation between hashrate and price,…

Price Analysis 8/10: BTC, ETH, XRP, BCH, LINK, BSV, LTC, ADA, BNB, CRO

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Bitcoin price continues to decline at $12,000, but altcoins have taken advantage of the range bound action by rallying higher. Traders prefer to trade a trending market as it generally moves in one direction and the retracements offer low-risk entry opportunities. This is because a trade that follows the major trend carries a greater possibility of earning profits than one in a volatile market.  As several cryptocurrencies started a trending move in July, web traffic to the crypto exchanges also increased by 13%, according to data from ICO Analytics. Daily…

China’s Blockchain Service Network Unveils New International English-Based Website

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China’s Blockchain Service Network, introduced in early 2020, has launched an official international website.     The Chinese Blockchain Service Network (BSN), has been open for commercial use since April 2020, after six months of internal testing. The BSN aims to provide small businesses and individuals to operate blockchain applications easily without using a private blockchain network. The network also aims to lower costs, estimating that hosting a decentralized application (Dapp) would only cost around $260 – $390 a year.   The Blockchain Services Network is built by a consortium…

Russian Rail Network Could Join the Blockchain Adoption Wave

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An advisor to Russian Railways, the country’s national rail operator, praised the rise of blockchain technology and hinted that it could be implemented as part of the country’s rail network. According to Vgudok, Sergey Vinogradov, the general director of the Scientific Research Institute of Railway Transport, blockchain may have a place in the national transport system. In fact, Vinogradov believes the rail network could be managed using blockchain-based smart contracts in tandem with a predictive system for managing the maintenance of container trains. He also feels that a future blockchain-based…

Stopgap or Future Solution for Blockchain Startups?

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Securing seed money for blockchain startups is a tricky business in normal times, but with a pandemic raging, it’s really touch-and-go. Private investors have been walking away from startup deals lately, looking to conserve working capital in uncertain economic times. But fortuitously, governments and government-like entities have been rushing in to fill the gaps. Richard Fetyko, founder of altFINS — a blockchain startup that enables crypto investors to screen, analyze and trade digital assets across exchanges — told Cointelegraph that he had an investor lined up to provide development and…

Blockchain Bites: Inside Cosmos, Bitcoin at $200B, DeFi Surges

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Traders are expecting bitcoin to go higher. DeFi is surging in web traffic. And Cosmos is alive and well, despite internal feuding. No cultsCosmos, the blockchain interoperability project that turned a small ICO into a thriving ecosystem, almost came to an end in February 2020 when the project’s co-founders engaged in a heated feud. It is now a testament to open-source collaboration and teamwork. “The Cosmos community managed to mature beyond a cult of personality without turning founders into martyrs, working together to reduce individual influence over the shared resources,”…

10,000 New Blockchain Companies Founded in China Despite COVID-19

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COVID-19 has not prevented blockchain companies in China from emerging at a dramatic speed. Blockchain On the Rise in China Data from LongHash indicated that new blockchain firms have been emerging at a speedy rate despite the pandemic, and even recorded an all-time high in 2020. The data shows that the biggest number of founded blockchain companies was located in the Guangdong province in Southeast China, with the second largest number originating from the Yunnan province. More than 10 000 new blockchain firms were established in the first 7 months…

Facebook Goes All-In on Fintech With Launch of New Product Group

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Facebook has launched a new product group to promote “payments and commerce opportunities” with David Marcus, Libra’s co-creator, in charge of the division. The group, called Facebook Financial — or “F2” —will run its payments projects, including a planned Facebook Pay, Bloomberg reported on Monday. The division appears to be incorporating Facebook’s previous adventures in fintech under a single umbrella, with Marcus reportedly being in charge of both Novi, the wallet for Libra previously known as Calibra, as well as recent attempts to bring payments to the WhatsApp messenger. The launch of…