Day: October 8, 2020

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin

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Whether you are a Bitcoin Holder or not, you would have to spend 5 minutes getting to know this project that may change Bitcoin’s future. Suppose you are not only a holder, but also a Maximalist. In that case, congratulations, the Bitcoin you love is about to regain everything it has lost (for example, Bitcoin Dominance). BoringDAO is a project whose name may sound boring, but some of the most exciting work is currently going on. BoringDAO is a cross-chain compatible, decentralized asset protocol, and its most important product is…

A Live Demonstration of What Tokenization Means for Digital Finance

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Place/Date: – October 8th, 2020 at 10:02 pm UTC · 2 min read Contact: Tokenized, Source: Tokenized Protocol There is a lot of talk and excitement about how blockchain tokenization can change the way digital transactions happen. However, so far, there is very little that any interested party can tangibly see for themselves… …until now. This Friday (October 9th) you can see a live demonstration of what Tokenized Founder and CEO James Belding for a live demonstration – and sneak preview – of, Tokenized; a platform for implementing tokens, smart…

Swiss Crypto Hedge Fund opened to the public from TheKryptoBank

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Place/Date: Switzerland – October 8th, 2020 at 9:27 pm UTC · 7 min read Contact: James Barclays, Source: TheKryptoBank If you’ve ever taken a trip to a country which uses a different currency than your own, you must have visited a Currency Exchange shop and exchanged some of your country’s currency with your destination country’s currency. When you do this at the currency exchange shop, the shop either charges you a commission (usually 1-2% on the whole transaction) or alternatively they would sell you the currency you want at below…

A researcher debunks Stock-to-Flow model, likens Bitcoin to a ‘tech stock’

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A report authored by the research team of ByteTree purports to debunk one of the most popular Bitcoin (BTC) valuation models — Stock-to-Flow. The model provides a very optimistic forecast for Bitcoin, claiming that a year from now we should see price levels above $100,000. Source: Glassnode. BytTree’s co-founder and chief investment officer, Charlie Morris, dedicates the entire fourth chapter of the report to “debunking” it. The stock-to-flow models have been applied for decades to forecast the price of commodities like gold and silver. Stock is the existing supply of…

Yearn.finance (YFI) Rallies After Tapping Bedrock Support Level; What to Expect Next

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Yearn.finance’s YFI token saw another capitulatory decline yesterday that sent its price reeling down to lows of $12,300. At this point, its price was able to find some serious support that slowed its ascent and helped it rally higher, with bulls now moving the retake control of its short-term outlook. Its ongoing rebound is coming about in tandem with the slight uptick in price seen by Bitcoin and Ethereum. This intense downside momentum seen by YFI has come about due to the confluence of multiple separate factors, including community turmoil…

Market Wrap: Bitcoin Surges on Square News to $10.9K; December Ether Options Pile Up

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Bitcoin is flashing green as Square converts some of its cash to crypto while ether options traders are making lots of bets for December expiration. Bitcoin (BTC) trading around $10,890 as of 20:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours. Bitcoin’s 24-hour range: $10,532-$10,962 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Oct. 6.Source: TradingView Bitcoin’s price popped Thursday, led higher almost immediately following the announcement that payments firm Square had invested $50 million to…

Bitcoin price fundamentals in ‘moon mode’ as BTC held on exchanges drops

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Despite an uneventful month for Bitcoin (BTC) price, on-chain metrics suggest that Bitcoin may be gearing for an imminent bull run. Noticeably, the number of Bitcoin held on spot exchanges has been decreasing since the start of the year, according to data from on-chain analytics firms, CryptoQuant, and glassnode. Crypto analyst, Willy Woo, noted that this change in trend is extremely bullish for Bitcoin as it signals an increased demand for the asset and interest in holding it as a store of value. Woo tweeted: “When coins on spot exchanges…

Asset Manager Who Predicted Ethereum Outperforming Bitcoin: The Trend Is “Done”

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Bitcoin has done well for itself in 2020, making it the top mainstream investment of the year so far. But deeper in the crypto market, Bitcoin’s gains look meager next to even its next closest asset in line, Ethereum. Ethereum and DeFi tokens outperformed Bitcoin easily this year so far, but that trend is “done” according to an asset manager. The same asset manager also nailed calling the initial rise against BTC, and they very well could be correct again about what’s to come next. Ethereum Is “Done” Outperforming Bitcoin,…

Hacker from the 2016 Bitfinex Breach Transfers $21M Worth of Bitcoin to Unknown Wallets

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On Wednesday morning (ET), around 2,034 BTC ($21.6 million) from the 2016 Bitfinex hack moved into a few unknown wallets. The action was caught by the Btcparser program as five transactions with around 400 BTC each moved for the first time in four years. On August 2, 2016, the popular digital currency exchange Bitfinex was hacked for 119,756 BTC which is around $1.2 billion in bitcoin using today’s exchange rates. The hacker was able to swipe roughly 18% of what was stolen from Mt Gox a few years prior. Most…