Day: October 9, 2020

These 3 Factors Suggest Bitcoin Could Be Starting a Fresh Bull Run

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Bitcoin and the entire crypto market have seen some intense strength throughout the past day, which has come about as a result of news regarding Square’s acquisition of Bitcoin worth $50 million that will be held on their balance sheets. Investors and analysts alike have been viewing this rapidly growing trend as being highly bullish for Bitcoin, as corporate adoption could boost BTC’s technical strength and allow it to see significantly further upside. The cryptocurrency is now on the cusp of breaking above a key technical level that previously sparked…

Bitcoin News Roundup for Oct. 9, 2020

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With BTC breaking above $11K and central banks collaborating to standardize CBDCs, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.   Jack Dorsey’s payments company is the second publicly traded firm to put some portion of corporate reserves into bitcoin, following MicroStrategy’s $425 million all-in bet. The seven central banks, along with the Bank for International Settlements, have released a report setting out agreed core objectives that…

MXC Exchange Brings Impermanent Loss Compensation for DeFi Mining

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The MXC Exchange presents the first-of-its-kind liquidity mining product EQL that offers a loss compensation facility to users for staking their investments in the DeFi space. This product will set a new precedence for offering merit-oriented investment services to DeFi market investors. On Wednesday, October 7, the world’s leading digital assets trading platform MXC Exchange announced its new DeFi mining product in the market. In an industry-first move, the EQL DeFi mining product by MXC offers impermanent loss compensation for all its users. MXC Exchange notes its new product will…

Euronext to Purchase Borsa Italiana from LSE for Over $5 Billion

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Stephane Boujnah, CEO and chairman of the managing board of Euronext, has described the deal with LSE as a “significant achievement” in the firm’s strategic plan. London Stock Exchange (LSE), the largest and the primary stock exchange in the United Kingdom, has agreed to sell Borsa Italiana stock exchange to French rival Euronext in a deal worth 4.3 billion euros ($5 billion). Moreover, the London Stock Exchange expects an additional amount reflecting cash generation to completion in the near future. The Italian Bourse was acquired by London Stock Exchange back…

bitFlyer Japan’s Assets Under Custody Topples 161.8 billion yen In August

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The total Assets under bitFlyer Japan’s custody topples 161.8 Billion Yen or approximately US$1.5 billion far back in August, breaking an almost two-year stalemate. Per Coindesk Japan’s report, bitFlyer Japan’s total assets under custody which is the highest the firm has seen since 2018 was most likely fueled by the company’s integration of four additional digital currencies including Ripple (XRP), Stellar Lumen (XLM), Nem (NEM), and Basic Attention Token (BAT). As gleaned from bitFlyer Japan’s announcement which was seen by Coindesk, the total physical cryptocurrencies transaction volume dropped from the…

Market Update: Bitcoin Captures $11K, Flash Buy Signals, Bollinger Band Squeeze

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Cryptocurrency markets are seeing decent gains on Friday following the announcement Square made the day prior about purchasing $50 million worth of bitcoin for reserves. During the morning trading sessions, the overall market capitalization of all 7,000+ crypto assets is up over 2% hovering at $340 billion. Digital currency markets are doing well on October 9, as a number of the top crypto markets have seen 24-hour gains. The positivity increased on Thursday, when the publicly listed firm, Square, told the public it purchased 4,709 BTC. Bitcoin is up 4.4%…

“Ichimoku Cloud” Hints Bitcoin is Finally Recovering From a Crucial Area

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The Ichimoku Cloud is a momentum indicator often used in technical analysis to gauge an asset’s trend. It is currently indicating that Bitcoin (BTC) is healthily recovering from an important support area. The daily chart of Bitcoin with the Ichimoku Cloud. | Source: BTCUSD on TradingView.com, Josh Olszwicz The cloud in the Ichimoku indicator is best described as a support line. If an asset goes too far high up the cloud, it could mean that it is overbought. But if Bitcoin is steadily recovering within the cloud, then it suggests…

Alphabet-Backed Waymo to Scale Up Its Robo-Taxi Services in Phoenix

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Waymo One app users can access unmanned robo-taxi services at nearly 81-square kilometers around Phoenix. Alphabet Inc (NASDAQ: GOOGL) subsidiary company Waymo, an autonomous driving technology development company, announced that it will not only scale up its robo-taxi hailing services in Phoenix but will also begin to offer rides in minivans with no human assistant on board. Notably, the robo-taxi industry has boomed during the COVID-19 pandemic as social distancing has become the new norm due to the high coronavirus infection rate. As a result, different global tech companies are…

BIS Partnered with Seven Central Banks to Detail CBDC Expectations

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The report indicates that a CBDC should be easily convertible, convenient to all, possess an unmatched security system, have high speed, and should be of legal sound. As the world financial system gets digitized, central banks are tirelessly working on developing and issuing their Central Bank Digital Currency (CBDC) in the near future. China is already on the forefront of the game, whereby it has launched its digital Renminbi ahead of other countries. However, due to the scale of CBDCs complexity, countries are working together on how to offer the…