Day: September 23, 2020

Mass DeFi adoption is 3–10 years away

boss

The majority of DeFi projects believe the industry is far away from maturity, but they are sure that mainstream adoption is likely to occur. This was disclosed on Sept. 21 when Cointelegraph Consulting released the results of a DeFi survey in “DeFi Adoption 2020: A Definitive Guide to Entering the Industry.” The survey showed that 48% of the top projects in the DeFi space expect mainstream adoption to arrive after three to five years, while 8% believe it might take longer than 10 years. Of all the respondents, 89% agreed…

Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble

boss

Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by Max Keiser, a bitcoin pioneer and a Wall Street analyst who insists that bitcoin behaves differently. Keiser’s latest comments about bitcoin were prompted by remarks made by one Twitter user who questions the commonly held…

UNI Shows Signs of Rebound After Crashing 57%; What’s Ahead?

boss

UNI logged a strong reversal in the running week after crashing by 57 percent in just four days of trading earlier this month. The UniSwap’s governance token was trading about 30 percent higher from its session low at $3.68. Traders came back to raise their bids for the crypto as its rivals in the decentralized finance space continue to face a market-wide bearish pressure. So it appears, UNI was among the only DeFi tokens that surged by a double-digit percentage on a 24-hour adjusted timeframe, according to data fetched by…

First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M

boss

The upcoming U.S. presidential election has become one of the most contentious in history, fraught with searing divisions over everything from the economy to race to the continued health of democracy itself.   So it’s not surprising that Wall Street options traders are now pricing in expectations of elevated market volatility around the November election. Analysts for the investment banking giant Goldman Sachs noted earlier this month that price swings of nearly 3% are implied around election day in the Standard & Poor’s 500 Index of U.S. stocks.  What’s surprising is that options trading on…

Chamber of Digital Commerce Adds Visa, Goldman Sachs to Its Board

boss

The Chamber of Digital Commerce will now have diverse opinions that will steer forward crypto regulations and adoption globally. American leading blockchain and digital assets advocacy group Chamber of Digital Commerce has taken a step further by adding key players to its board members. First, the NGO listed former Acting White House Chief of Staff Mick Mulvaney to its board. Secondly, the Chamber of Digital Commerce added Visa Inc (NYSE: V), Goldman Sachs Group Inc (NYSE: GS) and SDX Digital Exchange to its Executive Committee. This is a huge development…

Tesla (TSLA) Stock Down, Musk Announces Cheaper Car Worth $25K

boss

Tesla CEO announced plans to deliver a cheaper car of $25,000 by 2023. In reaction, Tesla stock continued its way down. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has promised to deliver a cheaper Tesla electric car by 2023. Musk said the vehicle would be available for $25,000, making it the cheapest car the company has produced so far. On Tuesday, Tesla held its Battery Day event, where CEO Elon Musk promised a cheaper Tesla car with Tesla-made batteries. According to the CEO, the car which would be fully autonomous…

Binance Presents Flamingo Finance, Third Project on Its Launchpool

boss

Flamingo Finance (FLM) will be the third project on Binance Launchpool. Users will be able to stake their BNB or BUSD tokens into two the pools to farm FLM tokens over 30 days from Sep 27. Binance will then list $FLM on September 28. Cryptocurrency exchange Binance announced it is starting with its third project on Binance Launchpool, dubbed Flamingo (FLM). This project is represented as an interoperable, full-stack decentralized finance protocol built on the Neo blockchain. Users will be able to stake their Binance Coins (BNB) or Binance USD…

Christie’s to Auction Bitcoin-Inspired Artwork, Associated Non-Fungible Token

boss

Part of an art project that combines 40 paintings carrying a transcription of the code behind the Bitcoin blockchain is set to go under the hammer at Christie’s New York.  According to a press statement, the sale for 20 such paintings in the project will kick off at Christie’s in New York City through an auction for the artwork “Block 21” which is slated to take place on Oct. 7.  Original

Here’s What Analysts Are Saying About Bitcoin As It Plunges 16%

boss

Bitcoin continued its tumbling on Wednesday under the pressure of a rising US dollar. Safest Haven Returns The cryptocurrency plunged by up to 1.43 percent to hit an intraday low at circa $10,389. Its latest move downside came as a part of a larger bearish correction that began when BTC/USD had formed a year-to-date top at $12,486 on August 17. Now trading at $10,469, the pair was down by 16 percent from its yearly top, showing a plunging demand for Bitcoin at higher levels. The selling pressure increased particularly as…

SFIX Stock Tanked More Than 16% after Stitch Fix Reported Q4 Loss

boss

Following the company’s report, its shares dropped. SFIX stock closed at $31.38 per share yesterday, or 7.95% up. However, in prolonged trade, it lost as much as 16.35% to $26.25. On Tuesday, the world’s leading online personal styling platform Stitch Fix Inc (NASDAQ: SFIX) delivered its fiscal fourth-quarter 2020 report. As Stitch Fix reported a larger-than-expected loss for Q4, its stock sharply declined in after-hours trading. Over the last 2 years, Stitch Fix has beaten revenue estimates 75% of the time and EPS estimates 100% of the time. Therefore, analysts…