Day: September 14, 2020

Former AngelList CEO Claims The Next Big DeFi Wave is Coming

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If you thought the DeFi phenomenon was big, bigger and better is yet to come. Well, that’s according to former AngelList CEO, Naval Ravikant, who said Wall Street money will fuel the next big wave. The next big wave in DeFi starts when Wall Street figures out that crypto has built a better casino. — Naval (@naval) September 13, 2020 In a recent tweet, Ravikant gave a backhanded compliment by saying institutional money will fuel the next big wave. In the same tweet, he also likened the space to a…

Can Binance Coin hit $40? BNB faces last hurdle before all-time highs

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In recent weeks, most of the cryptocurrency market has been doing poorly except for a few select altcoins. One of them is Yearn.finance (YFI), which was discussed in an earlier article. The other large-cap cryptocurrency doing well is Binance Coin (BNB), as the token of the cryptocurrency exchange dropped to $18 and immediately ran to $32 within one week.  This is a rally of 80% in a matter of days and, therefore, ripe for technical analysis to gauge where BNB may be headed next.  Crypto market daily performance. Source: Coin360…

Daily Market Overview Featuring Bitcoin, Ethereum and EUR/USD

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Bitcoin is up 0.68% today after losing 1.04% in price yesterday. The first cryptocurrency still remains bearish as the Dollar Index is gaining and the S&P Volatility Index is falling sharply since September 3. Currently, on a 4-hour chart BTC/USD has formed an ending diagonal and retraced from the dynamic support and is about to test the upper edge of the ending diagonal at $10 600. If bulls are able to push the price above $10 600, Bitcoin might continue the uptrend move towards 200MA at $11 120 – $11…

Microsoft Loses TikTok to Tech Giant Oracle – What This Means for Bitcoin and Blockchain Industry

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TikTok, the multibillion-dollar video sharing platform owned by Chinese tech company ByteDance and popularized by millennials and Gen Z, has chosen Oracle Corporation as its tech partner over Microsoft. Trump: TikTok is a Threat to National Security The news comes at a crucial time after US President Donald Trump had vehemently decreed that TikTok must sell its operations in the United States by September 15, stipulating that the social media app was a threat to national security due to it sneakily collecting user information, as revealed by an analysis from…

Report on global blockchain ecosystem by CV VC, PwC and Cointelegraph

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From enterprise blockchain adoption to the rise of decentralized finance, it seems like the blockchain landscape is constantly evolving in different ways. While impressive, it’s important to understand how blockchain is being applied within various industries. In order to highlight blockchain’s current global impact, a Swiss blockchain investment firm, CV VC, is releasing a new report together with Big Four firm PricewaterhouseCoopers Switzerland and Cointelegraph.  Entitled “CV VC Global Report H1/2020,” this report provides a detailed overview of companies applying blockchain technology across eight different sectors, including art, crypto banking,…

Yearn Finance’s YFI Reclaims $40K after Coinbase Listing

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Yearn Finance’s governance token, YFI, closed above $40,000 during the early trading session on Monday. The YFI/USD exchange rate established an intraday high at circa $42,425 following a 13.74 percent rally. The strong upside move appeared despite a lackluster bullish trend elsewhere, with top cryptocurrencies Bitcoin and Ethereum trading under the weight of sellers. YFI too experienced a sell-off near its session top. Traders booked their intraday profits, causing the cryptocurrency to plunge lower by 8.50 percent during the European session. Nevertheless, a support level lurking around $38,990 protected the…

Apple forces Coinbase to change its crypto products, says CEO

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Brian Armstrong, the CEO of United States cryptocurrency exchange Coinbase, alleges that Apple is stifling innovation in crypto and sidelining DeFi to protect itself from competition. In a Twitter thread published on Sept. 11, Armstrong doubled down on his earlier claims that Apple continues to block some functionalities for cryptocurrency developers.  The CEO alleged that other cryptocurrency firms are “reluctant to speak out on these topics for fear of retaliation,” but that he feels the need to speak out as Coinbase has exhausted regular channels for dialog with Apple and…

5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week in uncertain territory as $10,000 stays in place but fundamentals shift to bullish. Cointelegraph highlights five things that could shape BTC price action in the coming days. Peak oil demand was in 2019 In what will likely become a frequently-quoted announcement, oil giant BP said this weekend that the world has hit peak demand for the black gold.  In a report quoted by Bloomberg, BP said that demand for oil would stay “broadly flat” for the next twenty years, with pressure coming from alternative…

Does Bitcoin’s Ongoing Rally Have Legs? Here’s Why Analysts Think It Does

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Bitcoin is pressing higher after a $300-400 correction on Sunday morning. The leading cryptocurrency currently trades at $10,400 as of this article’s writing, around $200 from the lows. This comes after the leading cryptocurrency printed a pivotal weekly candle close above $10,000. $10,000 has long acted as an important horizontal level for Bitcoin, having marked three separate highs over the past year. Analysts think that Bitcoin’s ongoing rally may have legs despite it being so nascent and relatively small. One sign that this is the case is the price action…