Day: October 15, 2020

Blockchain Bites: Filecoin’s Mainnet, M&A’s Upswing, Tarbert’s Environmental Concerns

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Crypto M&A is up, CoinList set a record mint of wrapped bitcoin and the CFTC Chairman is “impressed” with Ethereum. Not to mention, Filecoin has pivoted to mainnet. Top shelf Filecoin fliesThe Filecoin network mainneted at 14:44 UTC, beginning its FIL token distribution. Filecoin is a system from Protocol Labs meant to be both a decentralized file storage and content distribution network in one. The new token is very likely to make history as the fastest newly live blockchain to reach a market capitalization of over a billion dollars, though we can’t really know…

Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume

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A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space.  In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely it was for DEX liquidity to overtake that of centralized exchanges in a 2-year time span. 70% of those interviewed said that decentralized exchanges will not overtake centralized exchange volume due to their lack of liquidity. Only…

Bitcoin News Roundup for Oct. 15, 2020

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With bitcoin falling back towards $11K and news out of CoinDesk’s invest: ethereum economy conference, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Today’s stories: The search for profit is likely to intensify with amount of global debt offering negative yields more than doubling in the past seven months This special edition of Blockchain Bites covers everything you need to know from CoinDesk’s invest: ethereum economy conference and the news from elsewhere in the cryptoverse.  NYDFS said cybersecurity must be treated as critical infrastructure by governments and…

Yearn.finance (YFI) is “Finished” as Technical Outlook Grows Grim

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Yearn.finance’s governance token YFI saw a notable rebound from its recent lows overnight, which comes as sentiment surrounding the crypto remains incredibly low. A fragmented community coupled with a lack of momentum in the aggregated DeFi space has created serious headwinds for YFI, which is now trading down well over 50% from its recent highs. The lack of sustainable upwards momentum seen by the token in recent weeks indicates that its buy-side pressure is evaporating, which comes as bears grow stronger. Although it has yet to revisit its recent lows…

Exchange-Custodied Bitcoin DeFi Outperforms Trustless Solutions

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Although the Bitcoin blockchain lacks the infrastructural model to enable interoperability and power a DeFi landscape like Ethereum, the asset is increasingly being used to provide liquidity in the DeFi market. Without any doubt, the Ethereum blockchain remains the core foundation of the DeFi narrative due to the ever-growing network of applications and developers relying on its infrastructure to power innovative financial systems. Hence, for a while, it was almost impossible for crypto holders other than Ethereum users to access the benefits of quality DeFi platforms without undergoing tiresome and…

Morgan Stanley Reports Profitable Q3, Revenue Hits $11.7 Billion

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Morgan Stanley has made a big jump following its previous quarter reports that were marred by the influence of the coronavirus pandemic. Investment banking giant Morgan Stanley (NYSE: MS) has posted a better than expected earnings for its Q3 on Thursday. According to Reuters, the Q3 earning Morgan Stanley reported came as a result of the firm’s blossoming trading business. Per the financials, Morgan Stanley reported an $11.7 billion net revenue surpassing last year’s figures that were pegged at $10 billion. Net income reported came at $2.7 billion or $1.66…

Bitcoin: Decisive Levels and Patterns to Watch

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October looks promising to Bitcoin traders as the price hiked in spite of pushes from regulators. As the volatility in the markets grows, Bitcoin seems to be referred to as the safe-haven outdoing Gold in this matter by 5.20% since October 1. While many investors saw an FCA regulation on crypto CFD’s as a bearish signal for BTC and the crypto-assets as whole, in fact it was the opposite and the explanation to this paradigm is simple. Traders who trade Bitcoin CFD’s on an FCA regulated broker will switch to…

AP Election 2020 Results Will be Recorded on a Blockchain

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The Associated Press’s (AP) 2020 election results will be recorded on Everipedia’s blockchain database, a first for the nearly 200-year-old news agency. Announced Thursday, the collaboration between the not-for-profit wire service and the tech startup will see more than 7,000 state and national election race calls recorded on a blockchain, with a publicly accessible user interface displaying the results. Everipedia’s database runs on top of EOS, the 14th-largest blockchain network by market cap, according to Nomics.   Chainlink is acting as the intermediary between the AP data and Everipedia, according to…

Bitcoin price must hold $11,000 for October rally to continue

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Bitcoin (BTC) price broke upward in the first half of October, resulting in a rally from $10,500 to $11,700. However, the momentum may be shifting once more as strength diminishes across the cryptocurrency market.  A similar setup also happened prior to Bitcoin’s latest upward break with sideways consolidation in BTC causing altcoins to drop south heavily, especially the Defi sector. Rangebound and holding $11,000 But significant support at $11,000 is now a must-hold level to resume the bullish momentum, which may find difficulty clearing current levels as renewed coronavirus lockdowns…