Day: September 21, 2020

What is Dogecoin? | Blockchain News

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Dogecoin is an altcoin cryptocurrency founded in 2013 based on the popular Doge meme, and is one of the more colorful coins on the cryptocurrency spectrum. The Genesis of Dogecoin and Its Connection to Reddit, Twitch, and Tiktok Founded in 2013 by Billy Markus and Jackson Palmer, Dogecoin was invented initially as a “joke currency” based on the “Doge” meme featuring a Shina Inu dog. The idea behind the coin was to create a fun and lighthearted cryptocurrency that could reach a large demographic while educating people about cryptocurrencies. It…

GE Shares Down 9%, General Electric to Exit New Coal Power Project

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General Electric (GE) shares have seen a massive rise and dump in the past days from the realities of two different events. The shares of American Multinational Company, General Electric Company (NYSE: GE) dropped by 2.91% in pre-market trading after the company revealed that it plans on leaving its New Build Coal Power Market, a move the company said is subject to applicable consultation requirements. At the time of writing, GE stock is 9% down, trading at $6.28. Per the official announcement, GE’s Steam Power business will work with customers…

Crypto Exchange Kraken Launching In Japan

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‏‏‎ Kraken, the San Fransisco-based digital assets exchange, says it will soon relaunch its services in Japan after shuttering its doors in the country for two years.  In a blog post, Kraken explains why it left Japan in 2018 and why the crypto exchange is now making a move to re-establish its position in the country. “Kraken exited Japan in 2018 in order to focus its resources on improving in other markets that were growing exponentially at the time… We believe the Japan market is ripe for re-entry. Interest in…

Gunners Reveal Sportsbet.io as Official Betting Partner

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Football fans across the world were reminded once more of Arsenal Football Club’s reputation for supporting innovation when the 13-time English champions unveiled its official betting partner as crypto-led sportsbook Sportsbet.io. Promoting Innovation Together The three year deal sees Sportsbet, which accepts a range of currencies, including crypto like Bitcoin and TRX, not only become the football club’s official partner in betting, but also some long-term sporting moves for the Gunners, as Arsenal FC call themselves. As part of the partnership, Arsenal FC will be conducting football clinics for the…

ETH price loses ground, but network metrics say DeFi season not over yet

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Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and Bitcoin (BTC) was largely due to the rising dollar, which has stopped Bitcoin’s bull run in its tracks. Ether is still sitting at around $340, failing to recover its price ranges of August. As the price of Ether dropped significantly from the start of the month, several fundamental factors on the Ethereum network itself have changed. These include the movements and positions…

Blockchain Bites: DeFi’s Dividend, China’s ‘New Battlefield,’ the Big Banks’ ‘Suspicious Activity’

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China sees its digital yuan as a “new battlefield,” DeFi’s Curve has a new dividend program and a yet-to-launch platform is pursuing an “Initial DEX Offering.” Top shelf ‘New battlefield’China’s central bank gave an inside look into its motivations for developing a digital currency (CBDC) for retail and governmental use. In a commentary published by China Finance, a local magazine, People’s Bank of China (PBOC) officials said its DCEP (digital currency electric payment) system is essential in weakening the dollar’s role in international finance and could open a “new battlefield” between nations. The…

Stocks Plunge, S&P 500 Faces Worst September since 2011

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On Friday, the S&P 500 index closed 1.12% or 37.54 points down, at 3,319.47. The close was below S&P 500’s 50-day moving average for the first time since April. At the moment of writing, it is even lower, at 3264.41.  This fall has brought volatility and uncertainty to stock markets. Not only the second coronavirus wave seems to lead to another flush of lockdowns but also political tensions are repelling investors from buying assets. With this background, U.S. stocks are set to open sharply lower today, with S&P 500 (INDEXSP:…

Short Calls Fail to Shake Bitcoin Miners Who Push Difficulty to New All-Time High

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Currently, Bitcoin traders are overall net long. But talk of a second wave has memories of March’s flash crash fresh on the mind. Source: blockchainwhispers.com The European Centre for Disease Prevention and Control has issued a stark notice over the rise in infection rates. As a result, throughout Europe, authorities are taking into consideration the possibility of a second lockdown. With that, some analysts and industry observers are warning that a sudden market crash could be on the cards in the near term. Rich Dad, Poor Dad author, Robert Kiyosaki,…

First Mover: Digital Gold Narrative Could Be Bitcoin’s Lone Ace as Ethereum Gains

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It’s pretty much guaranteed at this point that higher inflation is coming. The Federal Reserve, which has already printed about $3 trillion of new money this year, is now explicitly devoted to reducing the dollar’s purchasing power in a bid to revive the economy. Higher inflation also typically happens when a country gets laden with debt and interest rates are cut to zero, as is now the case in the U.S. “We’re at a moment where you may see some inflation,” Federal Reserve Bank of St. Louis President James Bullard said last week.    The…

European central bank execs explain why CBDCs don’t need blockchain

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Global central bank digital currencies, or CBDCs, do not require the use of blockchain technology, according to executives at major European central banks. Thomas Moser, an alternate member of the governing board at Swiss central bank, and Deutsche Bundesbank’s Martin Diehl discussed the state of CBDCs at the European Blockchain Convention Virtual 2020 conference on Sept. 21. During the online panel discussion, both Diehl and Moser seemed to agree that global CBDC projects like China’s digital yuan do not need blockchain, citing a number of reasons. Moser said that the primary…