Day: August 17, 2020

Paris Hilton Drew a Cat and it Somehow Sold for $17,000 in ETH

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Media personality and businesswoman Paris Hilton announced that she successfully auctioned a digital painting of her cat, Munchkin, for 40 ETH — worth almost $17,000. The sale was held through an Ethereum-based auction platform called Cryptograph. According to a tweet published by Hilton, money raised from the auction of the portrait will go to three charities in the United States — The LA Food Bank, Meals On Wheels, and BB4Homeless. The anonymous winner of Paris’ auction, known only as “Adirolls”, has also bought artwork made by Bitcoin.com’s founder, Roger Ver,…

TSLA Stock Rallies 8%, Wedbush Raises Price Target for Tesla to $1900

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Dan Ives from Wedbush raised his price target for Tesla to $1,900 from $1,800. Today TSLA stock is in the green today. Tesla Inc (NASDAQ: TSLA) stock jumped over 8% after the bell rang on Monday, retesting its all-time high ar over $1,788. The rally began during the pre-market as the shares were 1.8% up from last week’s close. The rally is being attributed to different fundamentals playing in favor of the company, but notably, after analyst Dan Ives at Wedbush raised his price target for Tesla to $1,900 from…

Tron Attempts To Jump On DeFi Bandwagon

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Tron founder and CEO Justin Sun was spotted on Twitter today, promoting a decentralized exchange for liquidity pooling akin to Uniswap and other DeFi platforms that have been booming recently. Is this yet another attempt by the altcoin’s backer to tap into the latest trend, or is this simply meeting market demand with the services that are currently highly sought? Justin Sun Introduces JustSwap, Aims To Steal Uniswap DeFi Thunder In the cryptocurrency market, there are often trendsetters, and then there are dozens more that chase that same trend, only…

Bitcoin Is the Second Most Viewed Asset in the U.S.

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Bitcoin continues to gain popularity among U.S. investors, following reports that the flagship cryptocurrency was the second-highest viewed asset after Tesla. Bitcoin Visibility is on the Rise According to data from stock charts platform TradingView, Bitcoin saw increased interest among U.S. investors and traders in the month of July. The TradingView data revealed that Bitcoin was the second-most viewed asset, just behind Tesla.  Meanwhile, popular stocks like Apple and Boeing have seen significant declines in the public interest. Indeed, the aviation industry has been one of the hardest hit by…

Bitcoin Investors Swap for Ethereum ‘Wrapped BTC’ to Yield Farm and Chill

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Demand for Wrapped Bitcoin (WBTC) has been growing tremendously in the last few weeks, with more than 23,100 WBTC ($274 million) currently in circulation. According to data from FlipsideCrypto, a digital asset data provider, more than half of the WBTC was minted in the past month as the decentralized finance sector saw record growth. Net wBTC supply since launch. Source: Flipside Crypto Launched in 2019, WBTC is an ERC-20 token that is pegged to the price of Bitcoin (BTC). It allows users to seemingly transfer Bitcoin to the Ethereum network and…

China’s Digital Yuan CBDC Is Close, but Many Details Remain Unknown

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With the coronavirus pandemic continuing to wreak economic havoc all over the world, China’s commitment to releasing its much-hyped digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — as early as possible has remained impressively steadfast. In this regard, it appears as though Chinese authorities are now rolling out the digital currency for testing across Hong Kong’s Greater Bay Area over the coming few weeks. Furthermore, it came to light on Aug. 5 that a select group of state-run commercial banks within China had…

Blockchain Bites: Bitcoin on DeFi and DeFi on Bitcoin

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More bitcoins were tokenized than mined this Sunday, decentralized finance is coming to the Bitcoin system and a former Prudential Securities CEO thinks crypto is a safe bet.  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’s DeFiDG Lab recently open sourced its proposal for a decentralized finance (DeFi) product leveraging the Bitcoin blockchain. Bitcoin is a growing part of the DeFi ecosystem, built primarily on top of Ethereum, as…

Litecoin SegWit Adoption Reaches 80% with Bitcoin Still Far Behind

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Segregated Witness (SegWit) adoption on Litecoin (LTC) is reaching new heights as penetration on the Bitcoin (BTC) chain is beyond the halfway point. However, the delay in platforms like Blockchain.com to get onboard the SegWit train still means users are paying more in fees than are necessary. Litecoin SegWit Penetration 80% of the Way There Tweeting on Sunday (August 16, 2020), Litecoin creator Charlie Lee reveled in the fact that SegWit adoption on the LTC chain was at 80 percent. Litecoin — popularly called “the silver to Bitcoin’s gold” —…

These Two Liquidity Regions Could Spark a Sharp Bitcoin Price Decline

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Bitcoin is currently catching some upwards momentum that has sent it past its key resistance level at $12,000. Although the crypto has yet to post a significant break above this level, bulls do appear to be building strength following the strong weekly close that BTC posted yesterday evening. Analysts are now offering mixed outlooks on where the crypto may trend next, but there are a few factors that indicate downside may be imminent. One trader, in particular, believes that BTC may push towards $12,500 before facing significant resistance that sends it…

Bitcoin News Roundup for Aug. 17, 2020

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With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users’ wallets, CoinDesk’s Markets Daily is back with your latest crypto news roundup! “The upcoming privacy upgrade would leave litecoin valuations around all time highs,” one industry analyst said. Bitcoin’s hashrate has soared to record highs, some analysts say it might kick the price out of its rut. Bitcoin returns are beating crypto hedge funds, but other recent developments point to more favorable tailwinds for those funds in the long term. George Ball, who claimed…