Day: September 20, 2020

Chainlink Reaches an “Accumulation Zone” as Potential Long-Term Bottom Forms

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Chainlink has been seeing intense weakness throughout the past few weeks, which has come about following a period of macro strength that allowed its price to rally up to highs of $20.00. The cryptocurrency has since posted enormous losses that have erased months of upside, leading some analysts to now anticipate further losses in the near-term. LINK is currently in the process of breaking below its macro support at $10.00, with bears beginning to garner full control of its near-term outlook. One analyst is noting that the $8.00 to $9.00…

US Space Force taps blockchain firm Xage Security for data protection

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The recently created United States Space Force, or USSF, and the U.S. Air Force Research Lab has chosen blockchain firm Xage Security to develop data security systems. In a statement, Xage Security said it was awarded a contract to provide end-to-end data protection for the USSF. The company will employ its blockchain-based Xage Security Fabric solution for the project. The company said Xage Security Fabric has a unified platform that can secure all systems and removes single points of entry so hackers can’t wipe information. It will allow the USSF…

Kraken Shows How Crypto Companies and Banks Are Evolving Together

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Some say that meaningful change happens gradually. Others insist it erupts unexpectedly. This week, we saw that both are true.  Earlier this week, the Wyoming Banking Board voted to approve the application from San Francisco-based crypto exchange Kraken for a Special Purpose Depositary Institution (SPDI) banking charter. Yes, one of the crypto industry’s oldest exchanges has become a bank.  This is a big deal, one that heralds a coming transformation of the crypto asset industry. Market participants and commentators understandably reacted with glee and surprise. Both are warranted, yet both…

Despite 10% Bounce From Lows, Bitcoin Has One Key Level to Cross

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Bitcoin has bounced over 10% from the lows set two weeks ago at around $9,800. The cryptocurrency, though, still has a crucial level to move above to confirm that a full-blown bullish reversal is in the works. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Needs to Surmount This Pivotal Level to Confirm Upside According to Edward “Teddy” Cleps, a crypto analyst and the founder of Yellow Block, Bitcoin must move above the $11,100 horizontal to confirm that the ongoing correction is a bullish reversal.…

Uniswap payday, ETH transactions hit record high & EU backs stablecoins

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Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   Frenzy as Uniswap launches new governance token Uniswap stole the show this week when it announced it was launching UNI, its very own governance token. A total of 1 billion tokens will exist, and anyone who has ever used the platform can claim 400 of them. Thousands came forward to accept their reward, and at one point, the airdrop was worth a cool $3,356.…

The US is number one…in blockchain patents

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Despite Alibaba filing more patents, the United States still takes the lead as the country with the most blockchain copyrights, a Sept. 17 report from intellectual property consultancy KISSPatent. The U.S. has 2,112 patents, followed by the Cayman Islands with 350 filings and Canada with 118. The rest of the top six are Japan with 108, South Korea with 87 and China with 77 patents.  The Cayman Islands is second, as most of Alibaba’s blockchain applications are located on the island.  Although Chinese companies are often represented in various “top…

Jennifer Aniston & Brad Pitt Are Not Getting Back Together-Again

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Jennifer Aniston and Brad Pitt recently came together to do a virtual table read of “Fast Times at Ridgemont High.” The media and fans are once again calling their interactions “flirty.” When will people understand that they’ll never get back together? Despite what you may want, Jennifer Aniston and Brad Pitt will never get back together. The pair recently came together to do a virtual table read of “Fast Times at Ridgemont High,” and the media and fans are once again speculating if they could get back together. As both…

BTC, NEO, XMR, ADA, LINK

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The total crypto market capitalization has recovered from the Sep. 6 lows near $314 billion but it is struggling to sustain above the $350 billion mark, which shows that higher levels continue to attract sellers. Bitcoin’s (BTC) dominance fell from above 68% in mid-May to about 56% in the first half of this month as DeFi tokens embarked on a strong bull run.  However, in the past few days, the DeFi assets have witnessed sharp corrections and their volatility has increased. This could possibly shift traders’ attention back to Bitcoin.…

Bitcoin Skeptic Turns Bitcoin Bull: Billion Dollar Company Buys 17K BTC in 74 Hours

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Nasdaq-listed company Microstrategy recently bought almost 17K bitcoins within 74 hours, costing about $175 million. The CEO of this billion-dollar company used to be a bitcoin skeptic but has recently become a bitcoin bull when his company purchased $425 million worth of bitcoin. Billion Dollar Public Company Dives Into Bitcoin Microstrategy recently made history in the bitcoin space when it became the first publicly-traded company to spend a material amount of its reserves to buy bitcoin. The company has purchased a total of 38,250 BTC at an aggregate price of…

Another Major Bank Sounds Alarm on Tech Bubble. Is It Time to Listen?

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Barclays downgraded mega-cap tech stocks, given their extreme valuations. The S&P 500 P/E ratio is approaching the 2000 dotcom bubble peak. We can expect more volatility in the coming months. Since the decline in March, mega-cap tech stocks have led the recovery in U.S. equity markets. After hitting a low of 6,879 on March 20, the Nasdaq Composite climbed 75% to an all-time high of 12,074 on September 2. Fears of a tech bubble have been mounting. The euphoria behind the high-tech index began to fade the next day, as…