Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve’s announcement of a more relaxed approach to tackling inflation. Original
Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets
Day: August 28, 2020
Resident Evil on Netflix is Coming
Netflix has finally confirmed that a Resident Evil adaptation is in the works. According to Netflix, the series will follow the Wesker children in New Raccoon City. This treatment for the Resident Evil series sounds as terrible as they come. Resident Evil is coming to Netflix, and we just have some early details directly from Netflix. The new series will center around “the Wesker kids,” as they move into New Racoon City. So, not only is the new series going to focus on events outside of the games, but it’s…
Winklevoss Brothers Say Bitcoin Could Reach $500K as the ‘Only’ Long-Term Inflation Hedge
“Bitcoin is … the only known commodity in the universe that has a deterministic and fixed supply,” the Winklevoss brothers wrote in a blog post saying the cryptocurrency may one day hit $500,000. Original
Walmart Shows Interest in TikTok, WMT Stock Up 2% in Pre-market
The e-commerce retail giant Walmart is the new player in the race for acquiring the Chinese social media platform TikTok. However, Walmart will be joining Microsoft in the bid for TikTok. Walmart sees a massive opportunity in integrating TikTok’s audience to its e-commerce retail business. The TikTok saga continues to escalate further with every passing day. In the latest development, the American retail giant Walmart Inc (NYSE: WMT) has shown in TikTok. On Thursday, August 27, Walmart said that it will join hands with Microsoft Corporation (NASDAQ: MSFT) in the…
Copyright Infringement Case Takes a Twist As Ripple Holds The “PayID” Trademark
A consortium of Australian banks, led by the Reserve Bank of Australia, reportedly brought legal action against Ripple Labs for copyright infringement. The issue relates to PayID, a payment network operated by the Open Payments Coalition (OPC). The list of participants includes over 40 global companies such as GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and others. Source: ripple.com New Payments Platform Australia (NPPA) alleges the PayID service is similar in concept and branding to its own PayID service. Much like Ripple’s offering, it enables instant payments using a phone or…
3 reasons why Yearn.finance YFI price just hit a new high of $18K
YFI, the native token of the Decentralized Finance (DeFi) giant yearn.finance, achieved a new all-time high. It soared by 30% in the last 12 hours from $14,017 to $18,169, entering price discovery. The price chart of yearn.finance’s YFI in the last two weeks. Source: TradingView.com The term price discovery refers to when an asset hits a new record high and markets seek a new peak. YFI entered price discovery for the first time in 8 days, after achieving its previous peak at $16,666. A hint of a new partnership, Aave…
Numeraire (NMR) Rallies 40% in a Day; Could It Hit A Yearly High?
Numeraire (Symbol: NMRUSD) bulls are bracing for a yearly high as its price rises by about 40 percent in the last 24 hours. The 75th-largest cryptocurrency token rallied to $62.96 during the early Friday session after finding a reasonable weekly support level at near $41. The upside move came in the absence of any immediate fundamental catalysts. Still, traders pointed to the NMR’s fresh pair listings on top exchanges as one of the primary reasons behind its August rally. Resuming Bull Run US-based Coinbase and Malta-based Binance took turns in…
Visa exec says buy Bitcoin as dollar index nears $12.5K BTC trigger
Bitcoin (BTC) is inches away from getting the same boost that helped it hit $12,500 earlier this month, data shows. On Aug. 28, the U.S. dollar currency index (DXY), fresh from losses caused by a speech from the Federal Reserve, returned to crucial low levels. Bitcoin’s $12,000 trigger reappears At press time on Friday, DXY measured 92.28 — its lowest since Aug. 19. At that time, the index had seen years of decline, with 92.17 marking the floor which challenged precious lows from April 2018. Safe havens, including Bitcoin, appeared…
Binance’s Bitcoin ‘Bid-Ask Spreads’ Tighten as Cryptocurrency Markets Mature
Getting in and out of a large bitcoin trade on cryptocurrency exchanges like Binance or BitMEX isn’t costing as much as it used to. That might be a healthy sign that digital-asset markets are maturing. At Binance, the world’s biggest cryptocurrency exchange by trading volume, the daily average spread between buy and sell orders on bitcoin futures for $10 million quote size declined to a record low of 0.25% on Monday, according to data provided by research firm Skew. The spread, which typically narrows as an exchange’s order book depth…
DeFi Darling Aave (LEND) May Face Correction as Price Reaches Overbought Levels
The Ethereum-based LEND, the native token for the Aave protocol, has seen a stunning performance over the past few months as DeFi has risen to prominence. The asset has gained in excess of 5,000% from the lows of 2019. It now trades for $0.76, up around 200% in the past month alone. LEND’s rally has seemingly been unstoppable, with the asset managing to climb exponentially after the March capitulation. According to a new analysis, though, LEND may be reaching unsustainable heights. Related Reading: These 3 Trends Suggest Bitcoin Is Poised to…