Day: August 25, 2020

Blockchain Bites: Bitcoin’s ‘Rich List,’ Ethereum’s Volatility, DeFi’s Shakeup

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There are more addresses than ever as part of Bitcoin’s “rich list,” the Federal Reserve is looking to change tack on inflation and another firm is putting its cash reserves into bitcoin, not a bank account. 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 Rich listThe “Bitcoin Rich List,” or the number of wallets with at least 1,000 BTC (~$11.5 million), is at a record high. There are…

Why This Trader Expects XRP’s Price to Triple by 2021

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XRP has been facing some weakness throughout the past several days and weeks, with buyers being unable to propel it above the key $0.30 region. Despite this short-term weakness, analysts believe that its mid-term outlook is incredibly bright. One trader is now noting that he is expecting the cryptocurrency’s price to see a major upswing that allows it to climb by a multiple of 2x or 3x by the end of the year. He notes that there are a few crucial macro technical developments that support this notion, including its…

Bitcoin News Roundup for Aug. 25, 2020

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With bitcoin still under $12K and Aave pulling ahead of MakerDAO, CoinDesk’s Markets Daily is back for your latest crypto news roundup! The Federal Reserve chief is expected to bolster expectations of inflation in a keynote Thursday. That may be bad for the U.S. dollar but good for bitcoin. DeFi credit market Aave has pulled ahead of stablecoin mint MakerDAO for the title of most collateral staked on Ethereum, according to DeFiPulse.  Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track…

Kourtney Kardashian Is Addison Rae’s New BFF

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Kourtney Kardashian was briefly the “woke” Kardashian sister because she was the first to speak out in favor of Black Lives Matter. Not anymore. She’s befriended Addison Rae, who recently came under fire for her past anti-BLM stance. Can we finally disabuse ourselves of the notion that any Kardashian is woke? Kourtney Kardashian is a performative activist. That isn’t particularly newsworthy. What’s newsworthy is how she has, once and for all, demonstrated that she’s just woke for the clicks. The eldest Kardashian sister has a new bestie: What is Kourtney Kardashian doing hanging…

Lidar Startup Luminar Going Public through Reverse Merger

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Luminar, a Florida-based startup that makes LIDAR sensors and other components essential for autonomous driving technology, is the latest transportation company to go public via a “reverse merger” with a special acquisition company, or SPAC. Automotive sensor startup Luminar Technologies Inc said on Monday it plans to go public through a merger with special purpose acquisition company Gores Metropoulos Inc (NASDAQ: GMHI) that has been valued approximately $2.9 billion. The whole package incorporates $400 million of cash from Gores Metropoulos and $170 million financing by investors among which are tech…

Shares of Airlines, Cruise Operators Jumped amid COVID-19 News

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Travel stocks such as shares of airlines, cruise operators, and hotels rose following an FDA announcement on coronavirus treatment and vaccines. Shares of cruise operators and airlines rose amid encouraging coronavirus news. Among the large number of travel-related stocks that increased on Monday were United Airlines Holdings Inc (NASDAQ: UAL) and Carnival Corp (NYSE: CCL). On Monday, shares of U.S. airlines, cruise ships, and hotels jumped after the U.S. health authorities announced updates on COVID-19 treatments and vaccines. The announcement was released by the U.S. Food and Drug Administration on…

Housing Market Defies Economic Malaise as Home Prices Rise Again

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Home prices rose 0.8 percent in the second quarter of 2020. Overall, prices are up 5.4 percent nationwide compared to a year ago. Investors are thinking about housing more than ever as further potential lockdowns loom. The U.S. housing market secured a modest advance in the second quarter of the year, experiencing a 0.8 percent overall rise in home prices. That followed a 0.9 percent rise in June, amidst a slight dip earlier in the second quarter. Why the U.S. Housing Market Has Remained Robust On average, housing prices are…

5 Risks Associated with Bitcoin Buying and How to Avoid Them

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The bitcoin aka BTC market is expanding day by day and year after year, its performance on the charts has so far been bullish. Investing in BTC and taking part in the fortunate run of the Bitcoin is the preferred choice of almost all crypto investors. But investing in this digital currency is not without risks. Let us discuss some of the risks associated with bitcoin buying. A Volatile Market A volatile and fluctuating market is the foremost risk that investors take to invest in bitcoin. It is true for…

Blockchain tech’s multipurpose role in driving global advancement

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Since the advent of blockchain technology in 2008, we have seen an ongoing sense of fortune, and several industries have been, and still are, grateful participants. The enormous boom will undoubtedly cause many other businesses to come aboard this train and completely step up their operations. Food industry Blockchain tech in the food industry will make the process of food production, distribution and storage completely transparent. The decentralized ledger system will provide easy access to vital information about the food product you are buying, from when it was grown to…

Stock Market ‘Recovery’ Is Merely Redistribution of Wealth to Big Tech

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FANGMAN stocks have almost hit a combined market cap of $8 trillion, more than the GDP of big economies like Japan, Germany, India, and the U.K. The over-reliance on Big Tech shows that the stock market “recovery” is mostly a symptom of the pandemic; it has enabled a further transfer of wealth to giant tech monopolies. The ascendence of tech firms will continue for as long as the coronavirus pandemic keeps the broader economy down. The stock market hasn’t recovered since its spectacular crash in March. Why? Because recent all-time…