Day: September 10, 2020

This Accumulation Pattern Suggests Bulls Are On The Right Side Of Bitcoin

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Bitcoin price may be down compared to it was just weeks ago, but it is not out. Bulls are fighting hard and have been keeping $10,000 as unbreakable on the way back down as it was on the way up. With each touch of the key resistance turned support, the cryptocurrency’s price action more closely resembles that of a Wyckoff accumulation schematic. If that’s the case, the crypto asset is being absorbed by smart money and whales, and mark up could come next. Bitcoin Bulls Defending $10,000 Support, Or Is…

Ex-Coinsbit CEO Moves to BUYTEX

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The BUYTEX team is currently doing the final preparations for the official launch: running all the necessary checks and tests so that exchange users get the most secure access to all the tools. Vincent Veisman who for the past year has been in charge of the Coinsbit exchange, has taken up a post of CBDO at BUYTEX, which is currently rolling out its high-tech cryptocurrency exchange. Vincent Veisman had been in charge of Coinsbit since 2019 (the exchange launched in 2018). Under his leadership, it managed to attract over 2,000,000…

Blockchain Bites: Ripple’s Case, SushiSwap’s Migration, Ether’s Bears

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A DBS Bank economist thinks the coronavirus pandemic will accelerate digital asset adoption, Mastercard announced a CBDC testing ground and SushiSwap has a temporary governance structure in place. Top shelf Digital adoptionSingapore-based DBS Bank thinks the coronavirus pandemic may speed adoption of digital assets, according to a quarterly report filed in August. “Post-pandemic [investing] is beyond speculative. It’s more about, ‘This thing has fixed circulation, it will not be debased.’ People are worried about dollar outflow and wondering if they should hold crypto in addition to gold as a safe-haven currency,” DBS…

Cryptocurrency Earning Platform StormX Adds Yearn Finance Support 

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Users of StormX can now choose to withdraw their earnings in YFI – currently one of the best performing cryptocurrencies of 2020. StormX, the popular gamified micro-tasks and shopping rewards platform, has just announced support for Yearn Finance (YFI) – the most popular yield farming token.   Now, users shopping at StormX-affiliate retailers will be able to earn YFI, in addition to a range of other cryptocurrencies as cashback by shopping at their favorite retailers. The app currently supports a huge number of popular online stores, such as Microsoft, eBay, Nike, Samsung, Gamestop, GrubHub,…

Another DeFi exit scam just made off with $20M in investor funds

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The rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators’ money. “A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol,” media outlet ZyCrypto wrote on Sept. 10. The project shilled its vaporware hard via Twitter and messaging apps such as Discord over the past 48 hours, ZyCrypto detailed. Cointelegraph tried tracking down details of the effort, but all traces of the scam appear…

Bitcoin’s Recent Drawback May Mark a Bullish Retest as Bulls Defend $10,000

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Bitcoin is currently showing some serious signs of strength. The benchmark cryptocurrency has flown past its $10,400 resistance and is now en route to setting fresh weekly highs. This marks a notable rebound from lows of $9,900 that were set on multiple occasions throughout the past couple of weeks. The buying pressure between this level and $10,000 was rather significant, as it was defended on multiple occasions by buyers keen on maintaining BTC’s mid-term market structure. It now appears that the crypto is poised to see further upside in the…

Bitcoin News Roundup for Sept. 10, 2020

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With bitcoin lawsuits in the news and SushiSwap’s migration completed, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Some are calling the white-hot Defi space a bubble that is unsustainable. AT&T has won a motion to dismiss a $200 million punitive damages claim from Mike Terpin, who lost $24 million in crypto via SIM hack.  A court in China has denied an appeal by bitcoin mining giant Bitmain seeking $30 million in damages from the three co-founders of mining pool rival Poolin. SushiSwap, the community-owned automated market…

New US sanctions target crypto addresses of Russian hackers accused of election interference

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Sept. 10 updates to the U.S. Treasury’s sanctions include Russian nationals who allegedly worked to interfere in U.S. elections. The updates specifically target a laundry list of crypto wallet addresses associated with these accused hackers.  The new specially designated nationals include St. Petersburg residents Anton Nikolaeyvich Andreyev and Artem Mikhaylovich Lifshits and addresses associated with these two including Bitcoin, Litecoin, ZCash, Dash and Ether.  This is not the first time that the Treasury’s Office of Foreign Asset Control has targeted crypto addresses. In March, OFAC added two Chinese nationals who…

New Swiss Law Reform to Bolster Blockchain and Crypto Activities

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With the reformed laws, Swiss banking institutions are expected to have a switch in their blockchain and crypto integration models. New Swiss law reforms have been enacted by the Switzerland Senate that will give blockchain and cryptocurrency companies a new lease of life. Already a nation with a number of blockchain-based firms, the newly reformed Swiss laws will give a deeper footing to blockchain entities in the alpine country. Per a report from Swiss Info, the country’s senators rapidly passed a wide-ranging set of financial and corporate law reforms on…

4 Emerging Crypto Projects That Should Be on Your Radar

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The following four crypto projects can be taken as examples of the exciting projects that are springing up right now. Even if you eat, sleep, and dream crypto, it’s impossible to stay abreast of everything that’s happening in the space. Even on only four hours’ sleep a night, you’re guaranteed to wake up to over 1,000 Telegram messages, pages of crypto Twitter threads, and enough defi drama to fill a Netflix series. Ain’t nobody got time for checking all that. Given the rate of innovation and iteration in crypto right now, it’s…