Day: August 24, 2020

Cosmos (ATOM) Rallies 35% to Hit All-Time High; More Gains Ahead?

boss

ATOM, the native token of interoperable blockchain Cosmos, was on a roller coaster ride in the last 24 hours. The 17th-largest cryptocurrency by market capitalization surged by almost 35 percent in the said timeframe as it established a record high at $8.67. The ATOM/USD exchange rate grew more influential on traders’ increasing appetite for decentralized finance unicorns. Cosmos has earlier amassed a string of successful DeFi projects, including Band Protocol, Kava, Terra, and THORChain. They, in many ways, mirror the services of Ethereum-backed DeFi protocols. They also bring about critical…

Public interest in central bank digital currencies surpasses Bitcoin in 2020

boss

A new report from the Bank for International Settlements (BIS) shows that 2020 is the year that momentum behind central bank digital currencies (CBDCs) has truly taken off. Published on Aug. 24, BIS’ new working paper analyzes the global state of CBDC research and development work, technical approaches and policy stances. The comprehensive research draws on over 16,000 central bank speeches from recent years and assesses existing CBDC designs and motivations behind various countries’ embrace of the new model. “Attitudes about whether central banks should issue them [CBDCs] have changed…

Bitcoin, Ether, and XRP Weekly Market Update August 24, 2020

boss

The total crypto market cap lost $8.3 billion from its value for the last seven days and now stands at $365.6 billion. The top 10 currencies were all in red for the same period with ChainLink (LINK) and Bitcoin SV (BSV) being the worst performers with 17.2 and 11.9 percent of losses respectively. By the time of writing bitcoin (BTC) is trading at $11,700 while ether (ETH) moved up to $394. Ripple’s XRP recovered to $0.287. BTC/USD Bitcoin closed the trading session on Sunday, August 16 at $11,910 confirming the…

AAPL Stock to Hit $600 per Share as Apple Crosses $2T Market Cap

boss

Daniel Ives believes that Apple has the potential to make further significant gains over the next year. According to him, the AAPL stock price has high chances to reach the level of $600. The shares of Apple Inc (NASDAQ: AAPL) have been tipped by Wedbush analyst Daniel Ives to hit $600 per share. This optimistic call comes after Apple (AAPL) crosses a $2 trillion market cap after experiencing a massive boost in share price in a post-COVID-19 lockdown recovery. Since Apple made history as the first publicly listed company to…

Bitcoin and Gold Recover on a Silent Monday

boss

Cryptocurrency market is showing recovery after a divergence last week, commodities follow the lead, hence Bitcoin was able to gain 1.1%, Ethereum 3.56% and Ripple recovered 2.0% in price. Previous weeks divergence was backed by the strong US data, which in other hand weakened two major commodities: Gold and Silver as well as brought some bearish moves to the crypto-market. Bitcoin was able to recover after testing a dynamic resistance of August 2 on August 22 at $11 373 and is indicating signals of growth showing higher closes and higher…

China’s digital yuan trials reportedly limited to small retail transactions

boss

The People’s Bank of China (PBoC) announced that the test run of its central bank digital currency is currently limited to small retail transactions. According to the Global Times on Aug. 24, the central bank has clarified some details regarding the recent digital yuan — also known as digital currency electronic payment, or DCEP — in order to address rumors regarding the scale and scope of recent pilot projects. Per the report, some Chinese internet users claimed that a person in Shenzhen received a large amount of PBoC’s digital currency…

XRP Is Poised to Almost Double in the “Coming Weeks”: Here’s Why

boss

XRP has been diligently following Bitcoin over the past few days, retracing as the leading cryptocurrency has. The asset trades up 1% in the past 24 hours, trading at the $0.285 level. While the asset remains below the $0.30 psychological and technical resistance, a technical analyst says that XRP remains bullish. He notes that the cryptocurrency could nearly double in the weeks ahead, which will mean it will soon near $0.50. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC XRP Could Double in the Coming Weeks:…

Bitstamp reportedly leaves London after 8 years of operation

boss

Bitstamp, one of the world’s oldest and largest cryptocurrency exchanges, is reportedly relocating its operations in the United Kingdom to Luxembourg. Already operating in Luxembourg, Bitstamp is now allegedly migrating the accounts of its customers in the U.K. to Bitstamp Europe SA, a business entity based in Luxembourg. According to TrustNodes on Aug. 21, Bitstamp said that the company is now winding down its operations in London. Bitstamp said that the account migration will not affect services and will not require any action from its users: “In order to comply…

No Collateral Required: How Aave Brought Unsecured Borrowing to DeFi

boss

Unsecured borrowing has come to decentralized finance (DeFi). Aave, a DeFi money market that allows users to earn interest on cryptocurrency and borrow against it, introduced credit delegation in early July. This service allows someone with a lot of collateral deposited on Aave and no desire to borrow against it to delegate their credit line to a third party they trust. In return for essentially co-signing a loan to the trusted third party, the delegator gets a cut of the interest, juicing the return on their deposit. The development represents…