Day: October 15, 2020

Shares of Big Hit Entertainment Make Strong Debut

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The listing price for Big Hit Entertainment was twice its issue price making it one of the most-successful public listings in the last three years. After a massive IPO response last month from South Korean investors, shares of Big Hit Entertainment – the music label of K-pop superstars BTS – made a strong debut today on Thursday, October 15. The Big Hit Entertainment shares opened at double its issue price. The issue price was 135,000 Korean won per share while the stock gave an opening at 270,000 Korean won per…

Grayscale Adds $1 Billion to Crypto Products in Q3, Sees ‘Unprecedented Demand’ for Bitcoin Cash

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Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees “unprecedented demand” for bitcoin cash. Record Quarter, Over $1 Billion Added Grayscale Investments released its third-quarter performance Wednesday. The company tweeted: We just recorded our largest ever quarterly inflows – over $1.0 billion in 3Q20 – making it the third consecutive record-breaking quarter. YTD investment into the Grayscale family of products has surpassed $2.4 billion. Specifically, the company revealed that the total investment into its products in 3Q…

Chinese Province Eyes Blockchain-Powered Points Reward System to Boost Tourism

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Hainan, a southern island province of China, is keeping a watchful eye on a blockchain-enabled points reward program aimed at promoting tourism in the region. The system is to be devised to allow consumption points founded on blockchain technology to be exchanged between different businesses in the cultural and entertainment fields. Realization of the “One-chain Tour Hainan” The blockchain-based consumption points are expected to assist enterprises in all tourism sectors to attain service interaction, marketing co-promotion, user sharing, and integrate the “Credit Tour Hainan” brand. This approach is touted to…

How ‘Big Blockchain’ Is Inevitable

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The U.S. economy is less dynamic than it was two decades ago, and with this shift has come massive concentration in market power and control. Industrial concentration has risen. More workers than ever work for very large firms. A handful of major investors own a greater percentage of public companies. Fewer companies (and individuals) decide what we consume, where we work, how much we earn and even how our government is run than they have in the last half century.  Stephanie Hurder, a CryptoX columnist, is a founding economist at…

UniSwap (UNI) Risks Falling Another 10% over Centralization Worries

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UniSwap’s native cryptocurrency, UNI, is at risk of continuing its downtrend by another 10 percent as the decentralized exchange undergoes its first governance vote. Members of the UniSwap community claimed that whales with access to large quantities of UNI tokens are unanimously changing the network rules. The accusations followed the launch of the first proposal on UniSwap, dubbed as ‘Reduce UNI Governance Proposal & Quorum Thresholds,’ by Dharma. UNI whales, as highlighted by DeFi expert Chris Blec. Source: UniSwap UNI whales, as highlighted by DeFi expert Chris Blec. Source: UniSwap…

Global shipping leaders join IBM and Maersk blockchain platform

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Two of the world’s largest container carriers announced a full integration onto IBM and Maersk’s TradeLens blockchain platform. CMA CGM, a French container and shipping company, along with MSC Mediterranean Shipping Company have joined the TradeLens network to enable a complete digital transformation of their supply chains. Marvin Erdly, head of TradeLens for IBM Blockchain, told Cointelegraph that as supply chains become digitized, manual paper-based processes, like processing bills of lading, are removed from the equation. “These processes are now embedded in blockchain networks and smart contracts that are trusted…

‘I would not short’ — Bitcoin buy the dip zone now $11K, says Tone Vays

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Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, popular trader Tone Vays says. In the latest edition of his Trading Bitcoin YouTube series on Oct. 14, Vays presented an optimistic take on the Bitcoin price, which he argues has barely any bearish characteristics. Vays: $11,000 zone is “perfect” dip Examining the weekly and daily charts, Vays noted that there was little reason to expect a significant pullback beyond a “one to four-candle correction.” This is ongoing, with BTC/USD consolidating its…

Blockchain VC deals are on the upswing despite Covid-19

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Despite Covid-19’s chill on the investment industry, investors are still keen on the blockchain industry — with a notable shift in interest and money toward Asia, according PwC and Crunchbase.a.  A new report by PwC, the professional services consultancy, has found that crypto M&A investment activity continues to shift away from the Americas, with 57% of deals occurring in Asia and Europe during the first half of 2020. This is up from 51% in 2019 and 43% in 2018.  PwC’s aggregated data shows that $597 million was spent in 60…

Eerie Chainlink (LINK) Fractal Predicts a Drop Towards $6

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Chainlink (LINK) has undergone a strong bounce since the lows under $8 it set in September. The leading cryptocurrency currently trades for a price around $11, almost 50% above those lows. Despite this recovery, not everyone thinks it will last. An eerie fractal suggests that the cryptocurrency could drop towards $6 in the coming weeks. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Chainlink Will Soon Plunge Further, Fractal Suggests One crypto-asset analyst recently compared Bitcoin’s price action in 2017 and 2018 to LINK’s price action…