Day: August 26, 2020

Ethereum whale’s uniswap token briefly hit $100K — but there’s a catch

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On Aug. 25, the creator of the well-known Uniswap tokens Antiample (XAMP) and Tokens of Babel (TOB) launched Boa. The Ether whale’s projects have seen growing interest within the niche Uniswap market. A common theme among the projects of the pseudonymous developer Bill Drummond is unique supply systems. Through unorthodox mechanisms, like rebasing, the supply of XAMP and TOB decreases through coin burns over time. TOB, as an example, is a token that uses rebases to decrease its supply but ensures the holder has a certain percentage of the total…

Jeff Bezos Now Worth Record $199.7B

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Amazon stock gained about 1.2% to close at $3,346 per share on Tuesday and continued to climb on Wednesday. The rally pushed Bezos’ fortune higher again, and his net worth now stands at a record $199.7 billion. Jeff Bezos might just become the first person ever to be worth $200 billion. Bezos already is the richest man on the planet but now, he may become the richest ever. On Tuesday, the shares of Amazon.com Inc (NASDAQ: AMZN), which Bezos founded in 1994 and leads as chief executive finished 1.18% higher…

Crypto Exchange Coincheck Launches Joint Project to Realize First IEO in Japan

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Since August of the last year, Coincheck has been considering commercializing IEOs, and the dream seems to be on course Coincheck, a leading Bitcoin wallet and exchange service based in Japan, announced on Tuesday that it had launched a joint project to realize Japan’s first IEO (Initial Exchange Offering). “Hashpalette Co., Ltd., a joint venture of Coincheck Co., Ltd., a joint venture of Link-U Co., Ltd., a company listed on the First Section of the Tokyo Stock Exchange, which operates a total of 10 million MAU manga apps, and HashPort…

Tether Beats Bitcoin and PayPal in Average Daily Transfer Value

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The Tether Transparency report showed Tether’s continuous growth in terms of supply. The report revealed that USDT’s supply has now exceeded $13 billion. As of the 20th of August, Tether has surpassed Bitcoin and PayPal in average daily transfer value. This recent development happened after months of USDT’s rapid growth. The world’s most popular stablecoin did not only grow in its daily transfer, but it also increased its supply volume. According to a report by CoinMetrics, Tether surpassed Bitcoin by about 20% in its 7-day average adjusted transfer value. The report revealed that the…

Jack Ma’s Ant Group files $30B IPO in Hong Kong and Shanghai

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Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has filed an Initial Public Offering, or IPO, in Hong Kong and Shanghai. Managed by Alibaba co-founder Jack Ma, Ant Group is targeting a valuation of about $226 billion, based on a target IPO raise of nearly $30 billion, people familiar with the matter told Bloomberg on Aug. 25. As reported, the new IPO could become the largest deal in history, potentially overtaking the record set by Saudi Arabian multinational oil and gas giant, Saudi Aramco — which raised around…

Sources Say World’s Largest Darknet Empire Market Exit Scammed, $30 Million in Bitcoin Stolen

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One of the world’s largest darknet markets (DNM), Empire Market, allegedly exit scammed after the marketplace was taken offline for a number of days this week. DNM patrons are upset about Empire Market’s departure and customers say that $30 million in bitcoin held by the darknet’s admins has been stolen. Three days ago news.Bitcoin.com reported on the Empire Market’s recent downtime, as our report had shown the DNM was offline for more than 36 hours. At the time, much of the blame was cast at a distributed denial-of-service (DDoS) attack.…

The NFT Game That Makes Cents for Filipinos During COVID

In the early 1980s, anti-video game propaganda depicted zombie-like “vidiots” hypnotized by their Pac-Mans and their Space Invaders. Lured into the dank depths of the arcade, innocent teenagers were at risk of becoming addicted, flunking school to instead kill and destroy. Fast forward to today and video games are recognized as a valuable tool to promote skills development. Microsoft’s Minecraft is used to demonstrate engineering principles and World of Warcraft has taught students about strategy and scientific concepts. Elon Musk and Mark Zuckerberg have touted the educational benefits of video…

Indian crypto P2P market size triples despite regulatory uncertainty

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Even as fears of another blanket ban on India’s digital asset market linger on, peer-to-peer Bitcoin trading within the Asian powerhouse is still surging, hitting all-time highs over the first week of August.  This immense growth was initially spurred by the Supreme Court’s unequivocal decision earlier in March 2020 to repeal an unconstitutional circular imposed by the Reserve Bank of India forbidding local banks and various financial institutions from providing services to crypto exchanges and investors. According to data aggregated by peer-to-peer Bitcoin (BTC) marketplaces Paxful and Localbitcoins, weekly trading…

Bitcoin and Ethereum Crumble While Low-Cap Coins Take the Spotlight

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Following the rejection from the $12,500 resistance level on August 17th, Bitcoin has endured a downtrend that has seen it lose most of the gains incurred throughout the first half of the month. The increasing selling pressure behind it has taken many investors by surprise since some of the lower cap altcoins have entered full-blown bull rallies. While BTC continues flirting with the idea of a steeper correction, its price continues to bleed. Such market behavior was visible on August 25th as the flagship cryptocurrency lost a critical support level.…

LEND Jumps Another 11% on Bloody Crypto Day; Correction Ahead?

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Decentralized finance asset LEND continued its gravity-defying price rally ahead of the New York opening bell Wednesday even as its peers across the crypto space suffered sizeable intraday losses. The 21st-largest cryptocurrency surged 11.28 percent to $0.858 per token, its highest level to this date. Its upside move followed a four-week winning streak, wherein LEND/USD rallied from 0.369 to 0.858. That amounts to a circa 210 percent price jump. Aave continues its parabolic bull run. Source: TradingView.com Zooming out on the LEND/USD weekly chart revealed a significant uptrend in play.…