Day: October 15, 2020

How Decentralized Exchanges Are Taking Over

boss

While decentralized exchanges are being heavily pushed in the cryptocurrency industry, it will take a while before they can really take over centralized exchanges. In many ways, cryptocurrency exchanges act as the backbone of the industry. They are the medium through which an overwhelming majority of cryptocurrency is traded, they have been an avenue for the introduction of institutional support into the industry. The fortunes of cryptocurrency exchanges also reflect the current state of the industry in terms of token supply, token price, and demand for tokens.  However, the last…

Near-Doji Day for Bitcoin, Modest Correction in Ethereum

boss

On Wednesday, 14th October, BTC/USD was trading in the price range between $11,430 and $11,568. Bitcoin Takes a Day Off in Volatility Starting at 11,436, BTC/USD advanced slightly to $11,500. Then the pair was trading mostly sideways until 13:00 UTC, when a moderate spike to the day’s high at $11,568 followed. However, the gains were very short-lived and retraced back down to $11,420 in the next hour. Later in the day, the pair slipped to $11,325 but bounced off the day’s lows to $11,429 at the close of the session,…

SSBU Player Signs Contract with SBI e-Sport to Receive Salary in XRP

boss

Ken’s idea to receive his salary on XRP over Japanese Yen will give him some added market advantage over time. Professional Super Smash Bros. Ultimate player, alias SSBU, Kengo Suzuki in partnership with SBI e-Sports has announced that he will receive his annual salary in digital asset XRP. “From today, I will belong to the Smash Bros. division of SBI e-sports. The annual salary will be received as crypto asset “XRP” based on the sponsorship contract with SBI VC Trade Co., Ltd,” Ken tweeted. SSBU Player’s Salary in XRP SBI…

RYA Shares Drop, COVID-19 Restrictions Forces Ryanair to Cut Capacity

boss

A new set of COVID-19 restrictions will strain Ryanair (RYA) as well as other airline companies globally. The shares of budget airline Ryanair Holdings Plc (LON: RYA) has slumped by more than 3% at midday on Thursday after the firm announced that it will be cutting its winter travel and booking capacities to 40% from that of last year from its earlier planned 60% due to concerns that a new set of COVID-19 restrictions may be imposed across Europe. The move by Ryanair (RYA) as revealed on Thursday is necessary…

Yearn Finance’s founder says he ‘doesn’t build for speculators’

boss

The founder of Yearn finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing people money. Cronje defended himself in a blog post and explained why he believes he shouldn’t be held responsible for those who “ape in” his testing contracts. Cronje will often place large disclaimers urging people to treat them with caution and not just go in because he built it. Little can be done to prevent this, given the permissionless nature of these products. Nevertheless, Cronje…

Bitcoin Sell-Off Accelerates amid US Stock Downtrend; Crash Ahead?

boss

Bitcoin (BTC) dropped lower on Thursday, with dimming stimulus hopes and a resurgence in the coronavirus cases in the US and Europe casting doubts over the global economic recovery. The BTC/USD exchange rate established an intraday low at $11,263 as of around 0900 UTC, suggesting that it could correct further lower in the US trading session ahead. The catalyst behind the pair’s dip was a stronger US dollar that picked up strength after US Treasury Secretary Stephen Mnuchin shattered hopes of finalizing the second stimulus relief bill before the presidential…

Block.one Debuts Big-Business Version of EOSIO Blockchain

boss

Block.one, the company behind the multi-billion-dollar-backed EOS ecosystem, has its sights locked on the enterprise blockchain space. Announced Thursday, Block.one has released “EOSIO for Business,” an enterprise-focused version of its software featuring Blockchain-as-a-Service (BaaS), consulting, technical support and training and certification programs, the company said. Blockchain cloud services can offer businesses a quick and painless way to spin up digital ledgers on their preferred cloud computing platforms.  “Despite knowing the inherent benefits that blockchain will deliver to their business operations, many in-house product engineering teams are wary of the complexity…

Elon Musk Slashes Model S Price Again, This Time by 3.5%

boss

Tesla revealed its readiness to do everything to continue offering favorable car pricing and introducing price slashes when necessary. Tesla Inc (NASDAQ: TSLA) has yet again slashed the price of its Model S sedan cars by about 3.5% as revealed by Chief Executive Officer Elon Musk. According to a report from CNBC, the Tesla price slash comes partly as a means to wade off competition from Lucid Motors who announced the pricing of its Lucid Air cars with a 406 mile EPA range at $69,990 in comparison with the Model…

Bitcoin price metric suggests $15K surge after US elections — report

boss

Bitcoin (BTC) has support to climb all the way to $15,000 if historic trends repeat themselves this year, a new report says. Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fuelling gains, which could smash $12,000 resistance. Report expects “significant break” in MVRV Bitcoin has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week. This has failed to dent optimism among analysts, who believe that $11,000 will provide solid support. Going forward,…

Mt. Gox Rehabilitation Plan Deadline Extended Yet Again

boss

The Mt. Gox trustee has led the extension of the rehabilitation plan multiple times with the recent ones dating back to March 31, 2020. The Tokyo District Court has approved a request filed by the trustee of the Mt.Gox rehabilitation plan, Nobuaki Kobayashi to postpone the process yet again to December 15, 2020. According to the official announcement on the deadline extension, it was cited that the extension was necessary to address some issues that need a closer examination to resume a smooth process. This has raised some questions as…