Day: August 22, 2020

This Textbook Indicator Suggests Tezos (XTZ) Will Soon Recover Against Bitcoin

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Earlier this month, Tezos (XTZ) was all the rage. After Bitcoin stalled in the $11,000s, the price of the altcoin shot higher independently of the leading cryptocurrency. As a result, the XTZ/BTC pair moved higher, reaching crucial levels not seen in months. But even since last week, Tezos has been on the decline. To be fair, most altcoins have been declining against Bitcoin as capital rushes back into the market leader. XTZ is expected to soon bounce as the Tom Demark Sequential, a popular technical indicator, prints a bullish reversal…

Researcher Re-mines Satoshi’s Bitcoin Blocks To Discover His Secrets

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Sergio Dermain Lerner, a researcher known for looking at the mining patterns of the original Bitcoin (BTC) miner, has turned his attention on the Bitcoin blocks mined by Satoshi Nakamoto. Lerner made a preview of his latest findings available to Cointelegraph. His research is based on the irregular pattern of the Least-Significant-Byte (LSB) of the nonce field of block. This past June, Lerner published a blog that expanded on his original research from 2013. He suggested that for an unknown reason, Satoshi refrained from mining in the first five minutes of…

Stock Trader Dave Portnoy Dives Into Bitcoin, Only to Panic-Sell After Chainlink Plunges

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High profile stock trader Dave Portnoy has panic sold his bitcoin one week after he got into cryptocurrency. He cited the falling price of chainlink, another of his crypto investments, as the main reason. Dave Portnoy Got in and Out of Crypto in One Week American trader and founder of Barstool Sports blog Dave Portnoy became a headline in the crypto space when he began investing in bitcoin on Aug. 13. He sat down with the founders of Gemini Exchange, the Winklevoss twins, who walked him through buying his first…

VeChain Launches Blockchain-enabled Sustainability Solution

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VeChain launched its blockchain-enabled sustainability solution aimed towards companies looking to digitize their sustainable practices.  Part of its blockchain-as-a-service platform ToolChain, VeChain promises the solution can streamline sustainable practices during the supply chain and manufacturing process and also showcase these practices to third parties like regulators. VeChain said the tool provides immutable proof of a green supply chain and can cover different stages of manufacturing. It can also store information on recycling, processing, reusing and inspection, allowing brands to trace original sources of goods and raw materials.  Since it’s on…

Analyst on Why Ethereum’s Bullish Market Structure Is Intact After Strong Drop

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Like most other crypto assets, Ethereum has slipped lower over the past four days. After peaking on Monday, all cryptocurrencies have retraced as Bitcoin has fallen lower seemingly due to a rise in the value of the U.S. dollar against foreign currencies. Ethereum has actually underperforming Bitcoin in this retracement, dropping around 11.5% from its year-to-date highs as opposed to just 7%. This seems to be the case with all altcoins, whereas capital flooded to BTC during the correction as investors sought safety. Despite some fearing this downtrend is set…

Golem Releases New Golem Version Focusing on Developers

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Decentralized computing power-sharing network Golem released a new version of its network. Golem announced the alpha release of the new Golem network, which focuses on easing application development. “As we have been mentioning in our communications over the last few months, we have made use of all the experience we had gathered while developing and running Brass and then Clay Golem. We spent countless days and nights thinking about how we could address what’s most important to our users and for the future of Golem and arrived at a strong…

Chainlink is About to Post a Bullish Trendline Break as Buyers Take Control

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Chainlink has seen a swift rebound today after posting some intense weakness yesterday. This has allowed it to recapture its position above $15.00, and it is now showing some signs of technical strength as analysts watch for further upside. In the near-term, which direction it trends may depend largely on its ongoing trendline breakout, which could be enough to send it surging significantly further in the coming days. One analyst believes that this breakout could mark the start of its next major bull trend. It is also important to note…

Aave CEO Wants to Tokenize Tesla. Elon Musk Gives Silent Treatment

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Aave co-founder and CEO Stani Kulechov really wants Tesla to join the decentralized finance (DeFi) craze. Kulechov tweeted at Tesla CEO Elon Musk offering to tokenize Teslas as collateral in Aave (LEND) to borrow assets such as U.S. Dollar Coin (USDC) and even invited Musk to learn about DeFi. Musk, however, has not yet responded to Kulechov’s tweet. Musk, while very friendly to the crypto world, has not publicly commented on DeFi. Aave’s lending protocol allows for non-collateralized borrowing where parties enter agreements where the borrower can use the lender’s…

Central Bank Digital Currencies and Their Role in the Financial System

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Central bank digital currencies are a digital representation of a country’s fiat currency. They are effectively a government-issued cryptocurrency designed to replace the traditional, physical form of fiat currencies. The term CBDC is broad because its implementation involves several critical decisions on the part of an issuing central bank. The primary decision is whether a CBDC should be a general-purpose in that it’s available to be used by the general population. If not, then the issuing authority may decide to make it available for “wholesale” transactions, which means the CBDC…

$11,600 & $11,200, Two Bitcoin (BTC) Support Levels to Watch in Aug.

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In summary: There is only one week left in the month of August.  $11,600 and $11,200 are two support levels to watch for the remainder of the month.  A monthly close above any of these two levels could mean a continuation of Bitcoin’s bullish narrative.  It is Saturday once again and the daily Bitcoin trade volume has gone contrary to the popular observation of decreasing during the weekend. According to Coinmarketcap.com, Friday’s 24-hour trade volume was approximately $20 Billion. The same Bitcoin trade volume currently stands at $24 Billion thus…