Day: August 28, 2020

Bitcoin News Roundup for Aug. 28, 2020

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With bitcoin and gold reversing losses, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve’s announcement of a more relaxed approach to tackling inflation. The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets.    The Venezuelan government’s push to create a cryptocurrency-centric economy appears to be working, but perhaps not in the way officials had hoped. Affected mining centers in the area may see…

Mining Farms in Inner Mongolia Stripped of Electricity Incentives

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Although the names of the farms were not immediately published, available information shows that two mining farms operated by Bitmain were affected. 21 mining farms in inner Mongolia are poised to pay higher electricity tariffs as the regional autonomous government wants to remove subsidy for miners. In a policy change announced by the Department of Industrial and Information Technology, the agency stated that 21 mining farms have been disqualified from energy trading in the region. Although the names of the farms were not immediately published, available information shows that two…

The DeFi craze continues as exchanges rush to list popular tokens

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OKEx is the latest cryptocurrency exchange to hop on the DeFi bandwagon. On August 28, they announced listings for eight different DeFi tokens, including Band Protocol (BAND), JUST (JST), REN, Reserve Rights (RSR), Yearn.finance (YFI), Nexus Mutual (wNXM), YFII.finance (YFII), and Tellor (TRB). These new listings expand their DeFi suite to a total of 27. OKEx’s CEO, Jay Hao, praised the DeFi sphere, stating: “OKEx has been keenly observing the DeFi market dynamics and trying our best to collaborate with high-quality innovative DeFi projects that show the most potential. We…

Visa Executive Makes New Case for Bull Run

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There is a potential for a new Bitcoin price run as the U.S. dollar currency index (DXY) has dipped to a new low of 92.28. Days after Tyler Winklevoss, co-founder of Gemini exchange said that the Federal Reserve under Chairman Jerome Powell is the biggest booster of Bitcoin’s (BTC) price, Andy Yee, senior director of public policy at Visa has made a new case capable of contributing to the long-predicted Bitcoin price’s bullish run. These comments are as a function of the speech by Chairman Powell in which he maintained…

Blockchain Technology Is Revolutionizing Real Estate Market: Realio Review

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With RealioX, Realio distinguishes itself from existing issuance platforms by developing a decentralized exchange that has a failsafe, 24/7 availability. The ability to tokenize illiquid assets and partially sell them as fractional ownership tokens might turn out to be a boon for the real estate market. At the same time, asset tokenization could become one of the most important use cases for blockchains. Like virtually all blockchain use cases, this however comes with a few pitfalls. Most of these are due to the fact that blockchain technology is still a…

Don’t just blame DeFi for paying high ETH gas fees

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Transaction costs on the Ethereum blockchain are at record highs, and no one will let you forget it. Reports often detail how decentralized finance platforms are the cause of ever-rising gas fees — tokens paid to miners who confirm and enable transactions on the Ethereum blockchain. Yes, DeFi does play a role, but the problem is institutional.  Some exchanges, custodians and asset managers have been using multisignature platforms to secure their digital assets. Several years ago, multisig was viewed as a respected attempt to prevent private keys from being compromised.…

Are Meghan Markle & Prince Harry Today’s Yoko Ono & John Lennon?

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While Meghan Markle and Prince Harry set about rebuilding their public image into a brand they can trade on, it seems the media are happy to play along. One body language expert has actually drawn a comparison between the Hollywood Royals and John Lennon and Yoko Ono! If Harry and Meghan are indeed this generation’s Lennon and Yoko, god help the younger people of today! It’s plain to see that Meghan Markle and Prince Harry have very much split opinion since they decided to walk away from their royal duties.…

Alt season is here? DeFi tokens taking on Bitcoin for crypto dominance

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With Bitcoin dropping below the $12,000 level and pulling back to $11,400 in the last few days, altcoins also seem to have lost their momentum, even after their impressive gains since the start of 2020. However, some believe that “alt season” is alive and well and that cryptocurrencies still have room to grow, even after tokens like Chainlink and others have grown by more than 100%. The rising price of the dollar may have been the major reason for the recent drop in Bitcoin’s (BTC) price, with safe-haven assets such…