Day: August 28, 2020

Ripple (XRP) Price Nosedives, Here’s Why It Could Fuel Decline In Altcoins

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Ripple declined sharply after it broke the $0.2700 support against the US Dollar, while bitcoin and ETH remained above weekly lows. XRP price is currently recovering, but it could fail near $0.2700. Ripple is down over 4% and it broke the $0.2720 and $0.2700 support levels against the US dollar. The price traded to a new weekly low at $0.2537 and it is currently recovering higher. There is a major bearish trend line forming with resistance near $0.2705 on the 4-hours chart of the XRP/USD pair (data source from Kraken).…

KSM moons as Kusama looks to Mars

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Polkadot’s (DOT) mainnet launch rally has seen many associated projects produce parabolic gains during August. Polkadot’s pseudo-test network or ‘canary chain’, Kusama (KSM), has been among the month’s strongest performers, rallying from less than $10 at the start of the month to an all-time high of $35 two days ago. Less than six months ago, KSM was trading for only $1.50. Kusama is now the 62nd-largest crypto asset with a $253 million market cap and a $34 million 24-hour trade volume. Remarking on KSM’s aggressive gains, Messari’s Wilson Withiam tweeted:…

Crypto leaders at odds over SEC’s ‘accredited investors’ move

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Major players in the crypto community have responded to the U.S. Securities and Exchange Commission recently amending its definition of an “accredited investor”. While many gave positive feedback, some say the new rules don’t go far enough.  On Aug. 26 the SEC announced that the accredited investors definition would now be based on “professional certifications, designations or credentials, or other credentials issued by an accredited educational institution.” Under the old definition, accredited investors needed to have either $1 million in net worth or a stable income of at least $200,000…

Media controversy over RMIT blockchain unit’s links to right-wing think-tank

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The RMIT Blockchain Innovation Hub’s association with influential right-wing think-tank The Institute of Public Affairs has been roundly criticised in a 1200-word news feature in Guardian Australia by other members of staff. The hub received $6 million from the Melbourne based RMIT University and claims to be the “world’s first” research centre on the social science of blockchain.  However one third of the university’s blockchain research staff, including co-directors Jason Potts and Christopher Berg, are either current or former fellows of the IPA, a sometimes controversial think tank that advocates…

Bitcoin Could Rally Above $11,500 As Double Bottom Pattern Emerges

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Bitcoin price is forming a strong support and a possible double bottom near $11,140 against the US Dollar. BTC is likely to rally if it clears the $11,500 resistance. Bitcoin is showing a few positive signs above the $11,140 and $11,200 support levels. The price is still struggling to clear the $11,500 resistance and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $11,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely forming a…

The Robonomics token is trading for $95,000 each on Uniswap

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The highly-anticipated launch of Polkadot’s (DOT) mainnet has seen many smaller crypto assets associated with the project explode recently. Both tokens of the distributed ledger technology (DLT)-powered robotics and Internet-of-Things (IoT) project Robonomics have been among those to surge alongside Polkadot, with the price of its utility token XRT increasing 10 times earlier this month. However, Robonomics’ “lifetime subscription token,” Robonomics Web Services (RWS), has also posted massive gains — becoming the first crypto token to trade for more than $100,000 when it tagged $116,000 in recent weeks. RWS’s extreme…

Framework Labs nabs $8m in funding round

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Framework Labs, the sister company of Framework Ventures, has raised $8 million in a new seed round. Station 13, an investment firm focusing on blockchain ventures related to sports, media, and entertainment, led the $8 million fundraising round for Framework Labs. Framework will use the funds to grow its team of researchers, traders, and engineers. The company has already hired former CTO and co-founder of decentralized exchange IDEX Ray Pulver and former principal at Wavemaker Partners Roy Learner. According to an Aug. 27 report from Forbes, Framework Labs founders Michael…

Grayscale pulls ads from Fox News after US shooting controversy

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Grayscale Investments, a major crypto investment firm with $5.8 billion in assets, has pulled advertising from Tucker Carlson’s prime-time show following the host’s controversial comments about a recent shooting at a Black Lives Matter protest. The national campaign to promote digital currencies called “The History of Money” was launched three weeks ago and has been running on CNBC, MSNBC, FOX, and FOX Business. On August 27, Fox News host Tucker Carlson appeared to justify a shooting carried out by a 17-year-old with an automatic rifle that resulted in the death…

Bakkt Futures Volume Up on Institutional Trading; Its President Slams Offshore Options

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Growing institutional interest is helping to drive a recent spike in volume on Bakkt, according to its president, Adam White. But the U.S.-regulated crypto derivatives exchange is holding out hope its dormant options platform will eventually gain traction. Trading volumes for physically settled bitcoin futures on Bakkt rose to $134 million on Tuesday from a previous high of $132 million on July 28, according to crypto derivatives data firm Skew. Bakkt went live last September. Bakkt open interest and volume.Source: Skew “The market recognizes the value that a regulated physically…

Binance and Oasis Labs launch intelligence sharing platform for exchanges

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The world’s largest cryptocurrency exchange, Binance, has teamed up with privacy-centric blockchain-powered cloud computing developers Oasis Labs to fight fraud in the crypto sector. Oasis was announced as the inaugural member and primary infrastructure provider for the Binance-led CryptoSafe Alliance on August 27. Oasis Labs’ “confidential smart contracts” will be utilized in building the decentralized CryptoSafe Platform which is designed to share threat intelligence data among crypto exchanges. The CryptoSafe Platform will be powered by the Oasis Network blockchain. The firms emphasize the need for the platform to enable collaborative…