Day: September 17, 2020

Ethereum 2.0 Moves Closer But Hoskinson Raises Doubts Over its Security

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Phase 0 of Ethereum 2.0 took a step forward today following the submission of EIP 2982. Phase 0, also known as the “beacon chain,” refers to the transition from proof-of-work to proof-of-stake. More specifically, in Phase 0, the goal is to lay the groundwork for staking and the operation of sharding chains. “At first, the beacon chain will be responsible for registering validators and coordinating everyone’s staked ETH. This is foundational to the rest of Eth2 and lays the groundwork for the shard chains.” Product Marketing Manager at Set Labs,…

Wirex announces multi-currency crypto card with support from Mastercard

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Wirex —  the first cryptocurrency platform to be granted a Mastercard principal membership — will release a new multi-currency card on the heels of the membership. Wirex is a London-based crypto payment processor and is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe.  The multi-currency Wirex Card will be supported by Mastercard and linked to 19 crypto and fiat currency accounts in the Wirex app. An official release date has not yet been announced. In a bid to encourage the use of…

millennial traders are saying ‘OK boomer’

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Between Sep. 9 and 16, the price of Bitcoin (BTC) rose by over 11%. Similarly, in the same period, Tesla stock (TSLA) surged from $330.21 to $449.76, by 36.2%. Millennials love TSLA stock and Bitcoin Tesla stock and the Bitcoin price have seen an uncanny correlation in recent weeks. The correlation might come from the similarities between BTC price movements and the S&P 500. It also might be related to the fact that millennial traders actively trade both BTC and TSLA. Bitcoin price falls as Tesla stock price drops in…

Libra appoints HSBC veteran to manage crypto project’s operational wing

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The Libra Association has appointed HSBC veteran James Emmett as managing director of its subsidiary firm, Libra Networks LLC. James Emmet spent 25 years at HSBC and is a former colleague of the Libra Association’s new CEO, former HSBC chief legal officer Stuart Levey. Levey is also the former Under Secretary for Terrorism under the administrations of George W. Bush and Barack Obama Emmett has held multiple roles in his long career at HSBC, most recently working as group general manager. In an official statement, Levey underscored Emmett’s extensive experience…

SUSHI Faces Massive Sell-off Following Uniswap’s Token Launch

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SUSHI was among the worst-performing cryptocurrencies on Thursday as the decentralized finance token faced a severe competitive threat from a rival. Uniswap, a decentralized trading platform that inspired the launch of SUSHI’s parent project, Sushiswap, launched its governance token, UNI, Wednesday night. Against the expected supply of 1 billion, Uniswap dispatched 150 million UNI tokens for users that have used or supported its exchange. At the time of distribution, an average UniSwap was receiving $1,344 worth of UNI tokens. About 13,000 people claimed 400 UNI each, leading many observers to…

GE Stock Jumps 10% on General Electric’s Positive Expectations

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As analysts predict, General Electric’s full-year cash burn will total about $2 billion, which means $1 billion in positive free cash flow over the second half of the year.  On Wednesday, Boston-based conglomerate General Electric Company (NYSE: GE) held its annual Morgan Stanley Laguna Conference. During the event, Executive Director at Morgan Stanley Josh Pokrzywinski and General Electric CEO Larry Culp discussed the company’s performance. General Electric is making good progress towards its cost-cutting plan and expects to have positive cash flow during the second half of 2020. Amid the news,…

Dow Jones Adds 36 Points, S&P 500 Affected by Tech Stock Drop

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The Dow Jones Industrial Average rose 36.78 points, or 0.13%, to 28,032.38 yesterday. However, the index has now dropped 1.77% YTD. On Wednesday, the Federal Open Market Committee (FOMC) released important economic aspects that affected major stock indexes including the Dow Jones Industrial Average and also the S&P 500. Members of the Fed’s policymaking committee indicated the overnight rate could stay near zero through 2023 in order to achieve its 2% inflation goal. “With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately…

Pool-X Launches BurningDrop, Supporting KTSt Genesis Mining

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On September 16, 2020, KuCoin, an IDG-backed crypto exchange, announced that its Pool-X platform has launched the BurningDrop program and will provide services for the Kratos Genesis token (KTSt) Distribution. Users can join the KTSt Genesis Mining via Pool-X. From 20:00:00 on September 16, 2020, to 20:00:00 on September 24, 2020 (UTC+8), users can get KTSt via BurningDrop and improve their computing power by burning POL, the native token of Pool-X. All KTSt mining rewards will be distributed at one time on September 25. As KuChain’s testnet, Kratos is a…

This Pivotal Level Could Trigger an Ethereum Correction Under $300

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Analysts are fearful that Ethereum could drop under $300 despite strength in Bitcoin and legacy markets. Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million Ethereum Could Move Under $300, Analysts Fear: Here’s Why Ethereum is risking a drop under $300 due to it reaching a pivotal resistance region in the $380 region. One analyst commented on the matter: “$ETH is likely headed to the top of this channel here at $400 and from there comes the moment of truth. I favor the RED path, but a HTF…

The History, Present, and Future of Bitcoin’s Price

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Bitcoin has a history with its pricing and market valuation. There was a time when it needed 10000 bitcoins to buy a pizza back then in 2009. Since then bitcoin has come a long way with its capped market pricing. Bitcoin now becomes a $200 billion market with a value of $11000 per bitcoin. It reached $1100 just a year after its first halving. The second halving took place in July 2016 where 1 bitcoin was worth $660. After six months, the price exceeded $1000 then after four months it…