Day: September 25, 2020

Harmony Reveals Roadmap for Cross-Exchange and Cross-Chain Pools

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Harmony (ONE) unveiled its roadmap of developing cross-chain compatibility bu building trustless bridges while giving users broader access to DeFi. On Thursday, September 24, decentralized blockchain platform Harmony announced the roadmap on its cross-exchange and cross-chain initiatives. The platform aims at building trustless bridges between decentralization and scalability. The platform announced that it will build trustless bridges for Bitcoin, Ethereum, and Binance chains giving users broader access to decentralized finance (DeFi). @harmonyprotocol roadmap on cross-chain uniswap & cross-exchange arbitrage embed light clients of btc/eth/bsc in our nodes? market making for assets…

Chainlink (LINK) Rallies 20%, But Here’s Why It Could Reverse Gains

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Chainlink (LINK) recovered sharply from the $7.35 support zone against the US Dollar. The recent rally is now facing a strong resistance near the $10.00 zone and the 100 SMA (H4). Chainlink token price started a strong upward move from the $7.32 low against the US dollar. The price is now facing hurdles near the $10.00 resistance and the 100 simple moving average (4-hours). There was a break above a crucial bearish trend line with resistance near $9.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken).…

Bitcoin Is Undervalued, Fair Value Price Should Be $15,000, Says Analyst

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Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash more than 8% within days from over $11,000 to $10,100. At Press time, each bitcoin is trading for $10,695, up nearly 2% in the last 24 hours. McGlone, a senior commodity strategist at Bloomberg, based…

Ethereum Recovers Sharply, But ETH Must Clear This Level For A Sustained Rally

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Ethereum is up 7% and it broke the $340 resistance zone against the US Dollar. ETH price is now facing a major hurdle near $350 and $355, above which it could rally significantly. Ethereum started a steady recovery wave from the $313 swing low. The price broke the $340 resistance level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $328 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher if…

Major Indian exchange proposes new regulatory framework to avoid crypto ban

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Major Indian cryptocurrency exchange BuyUCoin has developed a framework to regulate cryptocurrency in India that it claims has the support of “all the Indian cryptocurrency stakeholders”.  However, it is not clear yet which stakeholders helped develop the framework, or ‘sandbox’, which will be officially released on October 2. BuyUCoin, which has more than 350,000 users and handles billion-dollar transactions, described the framework as a draft set of community driven rules, propositions and implementation methods. The framework will be presented to the Indian Government. It comes after the Indian Supreme Court…

Bitcoin Recovery Runs Into Crucial Resistance, But 100 SMA Holds The Key

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Bitcoin price started a decent recovery from the $10,139 swing low against the US Dollar. BTC gained pace above the $10,550 resistance, but it is facing a major hurdle near $10,800. Bitcoin managed to stay above the $10,000 support and started a decent recovery. The price is now trading above the $10,550 resistance and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently…

Chainlink up 30% following six-week downtrend and developer selloff

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Following a six week downtrend from its all-time high, LINK has rebounded 30% in the past 24 hours after a reported developer selloff resulted in downward pressure on the oracle protocol token’s price. The strong rebound in the Bitcoin price, a sea of green among DeFi coins and a new Chainlink partnership announcement have all contributed to the price increase. Chainlink’s native token had fallen over 60% from its peak of $20 mid-August, bottoming out at crucial support levels around $7.50 on Thursday, September 24. The six week downtrend appears…

The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

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This week Bitcoin Cash fans have been discussing the milestone of over 10,000 Simple Ledger Protocol (SLP) tokens created since the infrastructure was first introduced. Moreover, tokens built on Bitcoin Cash are nearing 1 million transactions to-date. Bitcoin Cash (BCH) community members have noticed there are now 10,679 SLP tokens created since the Simple Ledger Protocol’s inception. The discussion concerning the SLP milestone took place this week on the popular Reddit forum r/btc. In addition to the 10k+ SLP tokens created, the number of transactions is nearing 1 million. Bitcoin.com…

U.S. Economy Is in Grave Danger Without Stimulus

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Goldman Sachs has cut its GDP forecast from 4% to 2%. The lack of additional stimulus is the problem. The investment bank doesn’t see additional stimulus until 2021. The economic recovery is set to stall. That’s the view of Goldman Sachs, who sees the lack of further stimulus as holding the economy back. The investment bank cut its growth forecast from 4% to 2%. Lack of Stimulus Holding Back the Economy Weeks ahead of the presidential election, House Democrats are pushing for another round of $1,200 checks for qualifying Americans.…