Day: October 19, 2020

Polkadot Experiences a Spike in the Number of Active Developers

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A report from Outlier Ventures analyzed key developments in the blockchain space over the past year. It showed that in 2020, Polkadot experienced the biggest upsurge in developer activity, at +44%, compared to any other platform. In contrast, EOS suffered the biggest decline with a -86% drop in active development. This was followed by Bitcoin Cash (-63%), and Tron (-51%). The authors of the report noted that 2020 sees a general decline in the number of active developers. This, they attribute to the on-going panic situation. Source: outlierventures.io Ethereum-Killer in…

Ant Group IPO in Hong Kong Wins Approval from Chinese Regulators

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In September, Ant won approval from Shanghai’s Star Market. But it still had to wait for the green light from Chinese regulators. Today, a hearing with the Hong Kong stock exchange will take place. Chinese fintech giant Ant Group, 33% owned by Alibaba Group and controlled by billionaire Jack Ma, is planning to conduct an Initial Public Offering (IPO) in Hong Kong. Today, the company has got approval for the IPO from the China Securities Regulatory Commission (CSRC). Ant Group has declined to comment on the news. But those familiar with…

Bitstamp Announces Insurance Policy To Cover Crypto Crime

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According to a recent announcement, European-based cryptocurrency exchange Bitstamp is set to provide additional insurance cover for assets held by users of its platform. Bitstamp, one of the oldest cryptocurrency exchanges today made this insurance move so as to wade off fears plaguing cryptocurrency exchanges as it relates to the theft of funds. Users want security for their money and the promise of being immune to hacks and theft may only make an impression with a novice in the space. The major question exchanges ask is what would the continuity…

Swiss gov’t starts consultation process for blockchain laws

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Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space.  The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021. This is a part of the Swiss government’s active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to…

Why a Technical Analyst is Predicting a Sub-$8K Yearn Finance (YFI) Crash

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More warnings flashed for Yearn Finance’s governance token YFI even as it showed signs of recovering after an upside weekend session. Market analyst Teddy Cleps envisioned a waterfall-like trend for YFI/USD, noting that the pair is likely to continue trading lower with anticipations of bouncing back on every support-retest. He further hinted that price floors might trick traders into believing that YFI has bottomed out, but the support with the best possibility of beginning a strong rebound lies $8,000 below the current price levels. YFI bearish outlook, as presented by…

Weekly Recap: Bitcoin Remains Dormant While Ethereum Incurs Losses

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The pioneer cryptocurrency remained stagnant during the third week of October. Bitcoin Remains Dormant While Traders Wait for Volatility It kicked off on Monday, October 12th, trading at $11,374, and closed Friday, October 16th, at $11,372. The bulls nor the bears could control BTC’s price action, showing indecision among market participants. Due to the dormant price action seen during the week of October 12th, Bitcoin’s volatility took a significant hit. The 60-day average dropped to a low 1.17% after hovering around 1.37% just a week before. This fundamental index’s considerable…

Peter Schiff’s Euro Pacific Bank Comes Under Investigation

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The J5 tax agencies from the U.S., Canada, U.K., Australia, and the Netherlands have all started an investigation into the shady dealings of the Euro Pacific Bank while reportedly tampering with its public holdings for Gold. On Sunday, October 18, millionaire investor and popular Bitcoin critic Peter Schiff‘s Euro Pacific Bank came under major investigation by the Global Tax Enforcement dubbed as the J5. Australian newspaper TheAge released the breaking news as investigators from the Australian Tax Office announced the probe along with global lawmakers. The J5 consists of the top…

Yearn.finance (YFI) Won’t Look Good Until It Secures $16k, Analyst

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Yearn.finance (YFI) has been one of the worst-performing assets over the past few weeks. As this outlet has reported, the coin has plunged in excess of 70% from its all-time high, as it reached lows of $12,000 after peaking at $44,000 just weeks ago. Sam Bankman-Fried, CEO of FTX, pinned the drop to three trends: a correction in all of DeFi, negative PR events, and yield farming yields dropping in the near term. While these factors have begun to subside as buying pressure has returned to the crypto market, investors…

‘Still so early’ — 7% of Americans have bought Bitcoin, study finds

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According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC). This means current investors in BTC are still in an early stage of growth. Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the “birth” phase of a new asset class. He wrote: “It’s still so early for Bitcoin. Still at the birth of a new global asset class.” In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold. If so, investors anticipate…