Day: August 23, 2020

Cosmos (ATOM) Just Broke Past $8 For the First Time Ever

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Just minutes, the price of Cosmos (ATOM) surpassed $8 for the first time ever. As of this article’s writing, the price of the cryptocurrency is $8.25 — up over 30% in the past 24 hours alone. This means that ATOM is outpacing all other cryptocurrencies in the top 100. Bitcoin, for instance, has rallied a mere 0.25% in the past 24 hours as the cryptocurrency enters a consolidation pattern. BTC actually consolidating is actually what is partially enabling this rally as altcoins thrive in periods of low volatility. Cosmos Breaks…

25% Cosmos (ATOM) Rally Could Send This Popular Altcoin Flying

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Cosmos (ATOM) has been on a remarkable rally over the past few days in spite of the price of Bitcoin stalling and actually undergoing a bearish reversal. The popular altcoin has gained 25% in the past 24 hours alone, setting a new all-time high price. Analysts say the rally in the price of this altcoin could trigger a surge in the price of another popular altcoin, Algorand (ALGO). Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Cosmos Gain Could Send Algorand Higher: Here’s Why Analysts believe…

Bitcoin Price Manipulators Watch Closely as BTC Loses Bullish Momentum

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On Sunday Aug. 2 the price of Bitcoin (BTC) dropped by 12% in just 5 minutes. In the same period of time Ether (ETH) dropped by 21% and similar losses were observed with many other altcoins. In retrospect, the general consensus on the cause was an unknown entity unloading roughly $1 billion on the open market during a time of low volume and liquidity. At first thought, one would assume that selling such a huge amount in an illiquid market would be to the detriment of the seller, but given…

Google Pulls Work from BPO Whose Employees Was Involved in Bitcoin Scam

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Google pulled outsourced work from a Philippine contact center whose employees were involved in a Bitcoin scam.  According to Newsbytes.PH, Google confirmed the company shifted some work it outsourced to a Sykes Philippines branch in Cebu City to another vendor in the country.  In the Philippines, social media posts alleged some employees of outsourcing firms siphoned around 60 million Philippine pesos ($1.23 million) of Google gift cards and converted these into Bitcoins. Sykes did affirm to news outlets that it did find employees breached their conduct standards but did not…

Institutions Have Never Been More Short on Bitcoin Futures Than They Are Now

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Bitcoin has been surging higher over recent weeks and months. The cryptocurrency has done so well, in fact, that it is actually the best-performing macro asset of the year — unless you count Ethereum as one. BTC’s rally this year has caught the attention of many on Wall Street. Paul Tudor Jones, the billionaire hedge fund manager, went public with his stake in the cryptocurrency this year. Others, too, have followed suit. But according to data from the CME, where most institutional traders actually transact Bitcoin (or at least derivatives),…

Data Storage Start-up Sharder to Increase Data Storage Space

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Blockchain data storage and privacy start-up Sharder wants to increase its data storage space as it looks to provide the storage hub for the Island blockchain application. The new application, called Boxes, punches up Sharder’s storage by an additional 96 terabytes. It’s current storage hub currently handles 32 terabytes.  Sharder chief marketing officer Paul Rogash told Cointelegraph Boxes will act as the storage hub for Island and will come out in the third quarter of this year.  “Boxes will interact with other blockchain applications where we can give more security…

Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, ATOM, NEO, CRO

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Bitcoin and Ethereum are likely to consolidate for a few days, leading select altcoins to possibly continue their uptrend. This week the S&P 500 made news by notching a new intraday all-time high and recovering 100% of the losses caused by the coronavirus pandemic in mid-March.  Despite this, there are signs U.S. stock markets could be overvalued. The Buffett indicator, an analysis tool which divides the Wilshire 5000 Index by the U.S. GDP, currently shows 1.7. This figure is quite near to the dot-com era top at 1.71 which was…

Tachyon VPN Reaches 1 Million Users in Just Six Months

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Tachyon Protocol, a blockchain-based network set up by proof-of-stake creator Sunny King, reported its decentralized virtual private network, or VPN, reached 1 million users worldwide last week after only six months. The VPN has seen tremendous growth since May when Cointelegraph reported it reached 100,000 users. According to the website, Tachyon VPN allows users to bypass internet activity restrictions. It provides many features such as a P2P network without central nodes, multi-path routing to prevent single-point attacks, protocol simulation to disguise traffic in transit and free access to Facebook, Netflix,…

Chainlink Rejected at Crucial Resistance; Here’s the Level Bulls Must Defend

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Chainlink has been seeing some turbulent price action in recent weeks, with the cryptocurrency rallying as high as $20 before incurring a massive influx of selling pressure that eventually sent it reeling as low as $12. This strong downtrend has struck a major blow to its technical structure, causing it to flash some signs of weakness as it consolidates around $15. Analysts are noting that it is now trading between key support at $14 and crucial resistance level at $16. Which one of these levels is broken first may be…

Binance Chain Runners Should Be Aware of Mainnet Hard Fork Upgrades

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The Binance Chain mainnet, a blockchain software system developed by Binance and its community, is scheduled to do a hard fork upgrade around August 28 at 6:00 AM UTC.  According to the company’s post on August 23, the full node runners on the mainnet are expected to switch their software version to v0.8.0 by the hard fork date. The change will have no impact on the BNB token holders and Binance Decentralized exchange users. However, full node operators of the Binance chain should follow the upgrade instructions on the main…