The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following in Bitcoin’s footsteps as altcoins are selling off heavily. Is the attention shifting back to Bitcoin? The weekly…
Day: October 20, 2020
Kyrgyzstan’s acting president claims blockchain can ensure fair elections
Kyrgyzstan’s acting President and Prime Minister Sadyr Japarov has proposed introducing a blockchain-based system to ensure fair elections in the near future and restore public faith in the democratic process. On Oct. 20, Japarov reportedly told Al-Jazeera television channel reporters that: “We have had three revolutions because of unfair elections. If this continues, the unrest and the revolutions will continue. From now on, everything will be fair. I consulted with the Central Election Commission and offered them to introduce the blockchain technology. This system can be implemented in 3–6 months.” …
French Finance Minister Praises Blockchain, but Condemns Cryptocurrency
French Finance Minister Bruno Le Maire has once again made his stance on crypto clear – he is critical of it and does not support it. Le Maire backs blockchain, hates crypto Though Le Maire has time and again reiterated that he disliked cryptocurrencies, associating them with illicit activities such as drug trafficking, the purchase of weapons, money laundering, and more, he has hinted that he did not put blockchain in the same basket. Rather, he surprised the crypto community by implying his support for blockchain, the underlying infrastructure for…
Report ranks crypto next to gold in popularity with Russian investors
Cryptocurrency investment is one of the most popular investment tools in Russia, according to a new report. The World Gold Council, a major market development organization for the gold industry, released a report on retail gold insights in Russia on Oct. 20. According to the report, cryptocurrency is currently the fifth-most popular investment tool in Russia after savings accounts, foreign currencies, real estate and life insurance. As part of the World Gold Council’s rankings of Russian investments made in the past 12 months, cryptocurrency is followed by gold, accounting for 17%…
Chinese Ride-Hailing Giant Didi May Go for IPO in Hong Kong in 2021
However, Didi has not officially confirmed the IPO plans and a planned schedule has not been drafted. Chinese ride-hailing giant Didi is set to perfect its Initial Public Offering (IPO) plans in 2021 but not with a New York Exchange as it has decided to pitch tent with the Hong Kong Stock Exchange. Per an exclusive report from Reuters, the initial public offering plans by the Chinese ride-hailing company Didi has commenced with consultations being made with investment banking outfits. The move to debut its listing in Hong Kong instead…
Bitcoin Closes on $12K But a Wall of Sell Orders Awaits: Analyst
Bitcoin is on the rise toward $12,000, but may face a stiff challenge to cross the price hurdle. Original
Hopes for DASH Use in DeFi Staking Pumps Price by 12%
The price of Dash’s native token of the same name jumped 12 percent in the last 24 hours as traders assessed its entry into the booming “DeFi” space. According to an announcement on Monday, the decentralized autonomous firm entered a partnership with StakeHound, a protocol that creates stake-backed tokens for users looking to access decentralized finance. The duo will enable DASH holders to stake their coins for a wrapped ERC20 crypto called stakedDASH. Users will be able to trade stakedDASH via decentralized exchanges, including UniSwap, Curve, Aave, and others. At…
COVID-19 Pandemic Creates Successful Business Opportunities for Startups and Entrepreneurs
The world economy is currently facing COVID-19 pandemic. This pandemic has shaken the government and citizens by impacting the economy all over the globe. COVID-19 is a medical term for the Coronavirus. It is a killer virus that infects people and makes them sick. Also, it is typically difficult to cure a coronavirus infected person. Because many countries didn’t get the accurate vaccine. This virus spreads from one infected person to another quickly. So social distancing and being quarantined is more essential to control the spread of this virus. Even…
Uniswap First Governance Proposal Faces Defeat
Controversy reined within Uniswap’s fledgling government as a result of the vote as there was a protocol switch last month. Voting in favor of the Uniswap governance mechanism has failed to garner the needed amount of votes. It intended to lower the barrier for passing protocols. Despite attracting the whooping support of 98% of the total votes cast, the first governance vote for Uniswap failed to pass. 40 million votes was the threshold required to gain approval, but it fell around 1% short. Uniswap Governance Voting Fails to Reach Quorum…
R3 Debuts XDC Coin, Boasts of Its Regulatory Compliance
As of July 2020, about 80% of Italian Banks were using R3’s Corda Blockchain to exchange data and this market may play a crucial role in driving the adoption of the XDC coin. R3 has launched the XDC Coin, coming off as the first digital currency for the public Corda network developed by R3. According to the report of the announcement made by R3, the XDC coin is designed to follow regulatory compliance while giving better access for decentralized finance applications to launch on the Corda Blockchain. Per the report,…