Day: August 19, 2020

Bitcoin News Roundup for Aug. 19, 2020

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With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk’s Markets Daily is back for your latest crypto news roundup! Some analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday. This year’s growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon “exuberant.” The U.K. watchdog has granted several licenses to Archax that will allow it to become a “one-stop shop” for the digital security space.  The Mumbai…

Colombian Ministry of Information Technology Prioritize Public Sector Blockchain and Crypto Payment Solutions

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The Colombian Ministry of Information Technology and Communications (MinTIC) believes blockchain and DLT solutions could benefit nearly a dozen of the country’s public services and have released a draft to guide sector implementation. Colombia’s MinTIC is calling for around ten public sectors to adopt blockchain solutions with a new draft guide entitled, “DLT/Blockchain—Guide for the use and implementation of Distributed Ledger Technology (DLT/Blockchain) in the public sector” released in August 2020. The Ministry’s first draft guide explains the pros and cons of implementing blockchain and DLT infrastructure and calls for…

XRP Is to Be Complimentary to Stablecoins and CBDCs, Ripple Exec Says

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Ripple executive explained that XRP is not a rival to stablecoins and CBDCs in international settlements. Ripple’s senior director of global operations Emi Yoshikawa has revealed in an interview that the XRP coin was not designed to compete with Central Bank Digital Currencies (CBDCs) and Stablecoins, rather, it is complimentary. She noted: “There are various types of crypto assets, but I think that the role of XRP as a bridge asset in international settlement is not a competition with Stablecoin or CBDC, but on the contrary, complementary. We believe that…

First Mover: Money Legos Turn ‘Exuberant’ as Chainlink Stripped of ‘DeFi’

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Price Point It’s been two steps forward, one step back for bitcoin (BTC) over the past couple months. Prices were down early Wednesday for a second straight day after pushing earlier this week past $12,000 to a new 2020 high. The price move accelerated as traders got hit with margin calls on the BitMEX exchange.  You’re reading First Mover, CryptoX’s daily markets newsletter. Assembled by the CryptoX Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in…

What Role Will Crypto Play During ‘The Great Reset?’

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A global pandemic, massive and worldwide protests, job automation, environmental issues and geopolitical tensions are just a few of the challenges facing humanity today. Amid the chaos, keystone global institutions and bureaucrats have openly discussed the present day as an opportunity to remake the world. “The Great Reset,” as the plan has been called, represents a radical initiative by world leaders — many of whom are unelected — to transform the global economy. The World Economic Forum, for instance, claims there is an “urgent need” for “global stakeholders” to manage…

1 Confirmation With Jeff and David – Bitcoin over 12k! True PNL Interview and More!

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      Jefferson: Live from BTC manager world headquarters. This is one confirmation with Jeff and Dave. I’m Jeff   Dave: I’m Dave.   Jefferson: And holy cow what another exciting week it’s always something going on in the crypto world. And if you blink you might miss it. Bitcoin is $11,500 and Ethereum seems to be breaking out at over $400 and then this Chainlink thing comes out of the blue and it’s at $16. What is going on in this market. Dave, what do you think is…

Bitcoin Price $12K Breakout Fails — Here’s How Low BTC Can Now Drop

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The price of Bitcoin (BTC) broke through the resistance level of $12,000, which led to a new yearly high for the number-one cryptocurrency by market capitalization.  However, the breakout was short-lived as the BTC price fell to $11,650 in recent days, marking a drop of almost 10% since the breakout. This drop caused the price of Bitcoin to drop back below the crucial resistance zone of $12,000. This breakdown is causing investors and traders to watch for more downside as several bearish arguments emerge. Crypto daily market performance. Source: Coin360…

Russian Bank Expobank Issues First Loan with Crypto Tokens as Collateral

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Expobank has become the first bank in Russia to issue a loan with crypto as collateral. The loan was powered by WAVES tokens. For the first time in Russia, a bank issued a loan with crypto tokens as collateral. According to a report by the Russian media platform Kommersant, Expobank is the first to give out a loan secured and powered by Waves (WAVES). Expobank told Kommersant that it issued the loan to businessman Mikhail Uspensky. Uspensky revealed that he will keep using WAVES and has no plans of selling…

Marriott Faces Class-Action Lawsuit over Data Breach

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The sum of the damages Marriott potentially faces is not yet clear. The court will decide on the per capita sum. Besides, it will take into consideration the existence of Europe’s General Data Protection Regulation (GDPR). The U.S. largest hospitality corporation Marriott International Inc (NASDAQ: MAR) is now facing a new lawsuit in the UK. The reason for the class action lawsuit is a vast data breach that affected 339 million customers worldwide. The hack may be the biggest in history. Despite the news about the lawsuit, Marriott stock is…

Ethereum-Based DEX Uniswap Generates Half of Bitcoin’s Total Transaction Fees

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In a show of dominance, the total transaction fees generated by Uniswap — a leading Ethereum-based decentralized exchange (DEX), is approximately 50 percent of Bitcoin’s. The Rise and Rise of Uniswap In a tweet posted on Aug 19 to highlight and contrast between the developments of Ethereum and Bitcoin, the metric goes on to show there is far more activity in the smart contracting platform than the single-purposed network. Uniswap is a popular DEX in Ethereum that democratizes and incentivizes market-making enabling people or firms to launch liquidity pools.  Unlike competing DEXes with…