Day: September 9, 2020

LVMH to Back Out from $16 Billion Tiffany Deal

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LVMH and Tiffany signed a merger agreement in November 2019. However, it has become known that this deal will not have a bright future. Paris-based Loui Vuitton owner LVMH Moet Hennessy Louis Vuitton SE (EPA: MC) has revealed it will be backing out from its proposed deal with United States jewelry brand Tiffany & Co (NYSE: TIF). The two companies signed a merger agreement back in November 2019 with November 20, 2020, set as the deadline for the merger to be completed. The French luxury brand outfit LVMH has declared…

This U.S. University Will Accept Donations in Bitcoin, Chainlink, Ethereum, and Others

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Alumni of a U.S. university Wake Forest has set up a system for the varsity to accept donations via a range of cryptocurrencies, as per an announcement by crypto firm Giving Block. Crypto Donations Arrive at University The initiative is led by Alex Wilson and Pat Duffy, the co-founders of The Giving Block. While at Wake Forest, Alex and Pat were first exposed to Bitcoin, despite it still being the early days for the cryptocurrency industry. The Giving Block now works with over 70 nonprofits (and have raised millions in…

Ethereum’s Macro Price Action Suggests It May Hit $5,500 in 2021; Here’s Why

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Ethereum has flashed some signs of technical strength throughout the past few hours, which has come about due to the rebound seen by Bitcoin. The cryptocurrency’s ability to surge from lows of $325 earlier today to highs of $355 is a positive development for its near-term outlook, as it does seem to suggest that bulls still have some underlying strength. Whether or not buyers are able to sustain this momentum may depend largely on where Bitcoin trends next, as the benchmark cryptocurrency has been caught within a bout of sideways…

Bitcoin News Roundup for Sept. 9, 2020

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With bitcoin hovering just above $10,000 and a tokenized form of Ethereum transaction fees in the crosshairs, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin is now more closely tied to safe haven gold than ever. More than 30% of new customers at bitFlyer, a major Japanese crypto exchange, are in their 20s, the exchange said. eToro’s GoodDollar initiative will provide a universal basic income for some of the world’s poorest by incentivizing people to yield farm on its platform.  As Ethereum fees soar, a proposal…

Digital Currency Group (DCG) Acquires Luno for Undisclosed Amount

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Having been in the crypto industry long enough to understand the perspective of the market, Digital Currency Group’s key attention to crypto exchanges is an indicator that the industry is growing immensely. The blockchain investment firm Digital Currency Group (DCG) has today announced the acquisition of a retail-focused crypto exchange Luno that also supports its own crypto wallet. The investment firm is popular in the crypto industry being the owner of the media outlet, Coindesk. Besides, the firm has also invested in different crypto exchanges globally among other startups. “We…

Crypto Price Analysis September 9: BTC, ETH, LTC, BCH, EOS

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Cryptocurrencies have gone in descending corrections again. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. However, even now, on the Bitcoin and Ethereum D1 charts, ascending patterns confirming a leap upwards are forming; note that those are the same patterns. However, there is room for another decline before the patterns are complete. Hence, the market may slump even deeper down before reversing upwards. On W1s of the Bitcoin and Ethereum,…

Bitcoin and Ethereum Remain Dormant, Preparing for Volatility

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Bitcoin enters consolidation period awaiting for major price movement. Following an 18% downswing during the first five days of September, the flagship cryptocurrency seems to have entered a consolidation period. Since then, its price has mostly traded between the $10,000 support and the $10,500 resistance level without providing a clear signal of where it is headed next. The ongoing stagnation phase is visible in BTC’s 4-hour chart, where the Bollinger bands were forced to squeeze, which indicates low volatility. The lackluster price action that Bitcoin is going through was also…

Cointelegraph moderates CV Labs’ first ‘Blockchain in Art’ online panel

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Many believe that Blockchain technology has the potential to transform the art industry. To prove this hypothesis, a blockchain firm in Switzerland is hosting its first online event devoted to blockchain in art, alongside Cointelegraph. CV Labs, the blockchain incubator arm of Swiss blockchain investment firm CV VC, has organized an online panel to discuss the hottest issues in areas of blockchain use for art. Titled “Blockchain in Art,” the online event will feature major industry players like 4ARTechnologies’ CEO Niko Kipouros, Christina Steinbrecher co-founder of digital platform for artists…

FTX Exchange Announces Upbots IEO to Confront Speculative Reputation of Such Offering

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Upbots trading platform announced the IEO for its UBXT utility token which will be hosted by the FTX known to be an industry-leading crypto derivatives exchange. In this way Upbots wants to make one dashboard for both professionals and amateurs. The popular crypto derivatives exchange FTX has announced that they will be hosting the IEO for the UBXT utility token native to the Upbots trading platform. The Swiss project aims to create a one-stop dashboard for both professional and amateur traders. For this purpose, Upbots connects to several of the…

Crypto exchange volume data is becoming more reliable — but it’s still far from perfect

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The Blockchain Transparency Institute, or BTI, has published its market data integrity report for 2020. This report found a threefold improvement in the quality of data on veteran crypto rankings site, CoinMarketCap.  “Only 31% of the [CoinMarketCap] top 25 is being wash traded compared to over 90% just 1 year ago, a 3x improvement with their new rankings system,” the report states.  Research for the report was compiled as part of “BTI Verified,” an initiative launched by BTI to analyze the problem of crypto exchange data being distorted by wash…