Day: October 23, 2020

BitMEX Rides on New Futures Listings to Dive Deeper into DeFi 

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BitMEX plans to offer futures contracts for DeFi projects Yearn.finance (YFI), Polkadot (DOT), and Binance Coin (BNB). The Seychelles-based BitMEX exchange said via its blog post on Friday that it plans to launch three new Altcoin/USDT underlying quanto futures contracts. Yearn.finance (YFI) – an Ethereum-based token governing the Yearn.finance platform — will be the first DeFi token to be added and then later Binance Coin (BNB) as well as Polkadot‘s (DOT) native token. Through the new quanto futures contract, BitMEX traders will comfortably hedge their risk exposure to BNB (Binance…

Huawei Announces Better-Than-Expected Earnings Amid Stiff Restrictions

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Huawei Technologies today announced its earnings for the past nine months with figures beating off expectations. Per the announcement, the company stated that the revenue generated by the company for the first three quarters in 2020 comes off at 671.3 billion Chinese Yuan (approximately US$100.6 Billion), a growth of 9.9% year over year. The company also reported a net margin profit of 8% for the period spanning January to September. Huawei Technologies Co Ltd has experienced a huge strain in its business operations not just because of the global strain…

Wealth Management Company Lufax Seeks $2.36 Billion in US IPO

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Shanghai-based wealth management company Lufax is looking to raise up to $2.36 billion in its proposed Initial Public Offering for eventual listing on the New York Stock Exchange. Per the report from CNBC, Lufax noted that it would be issuing out 175,000,000 million American Depositary Shares (ADS) and that it would be giving out the shares for a price in the range of $11.50 to $13.50 per share. Quantitative estimation of the proposed earnings should all the American Depositary Shares be bought will see the Lufax Initial Public Offering (IPO)…

GM Debuts Electric Hummer Pickup, Stock Closes at Record High

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The Edition 1 model of GM electric Hummer pickup will be available in fall 2021. Its price starts at $112,595. The reservation for the truck is already full.    On Tuesday, one of the largest US vehicle corporations General Motors (NYSE: GM) introduced its Hummer EV electric pickup truck. Besides, the company announced more than $2 billion in investments to support electric vehicles in the U.S. Following the news, GM stock reached a new 2020 record, closing 4.58% up at $37.41 per share yesterday. After hours, it added another 0.70%…

Filecoin Upgraded Network Allows Miners Claim 25% of Block Rewards

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The latest Lotus 1.1.0 network software upgrade enables Filecoin miners to access 25% of mining rewards immediately with no vesting. As reported by The Block, Filecoin‘s network lead Molly posted on Wednesday a downloadable Lotus 1.1.0 software upgrade in the project’s Slack channel. Participants who want to continue operating in the decentralized storage network would have to comply since this is a mandatory upgrade. She posted the following in the channel: “You must upgrade before epoch 170,000 (Thursday Oct 22 at ~22:40 UTC), or you will lose sync with the…

Bitcoin Weekly Technical Setup Shows a Clear Price Target: $19,030

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A long-term outlook of the Bitcoin market shows its price hitting $19,030 in the coming sessions. According to a setup presented by one TradingView contributor, the world’s leading cryptocurrency is in the first stage of an inverse Head & Shoulder (IH&S) breakout. In retrospect, an IH&S pattern appears when the underlying security forms three troughs on a baseline, with the middle one the lowest of all. Traders treat IH&S as a bullish indicator for its ability to foretell a downtrend reversal. They further expect the pattern to catalyze fresh bull…

Quantstamp will audit the entire blockchain of a new DeFi project on Polkadot

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One of the first audits of a decentralized finance project connected with the Polkadot (DOT) blockchain is set to be carried out by blockchain security firm Quantstamp.  The project, Equilibrium, had first announced its plans to develop an interoperable protocol on Polkadot in summer of this year. For its transition to Polkadot, the project has been developing new products for its decentralized, cross-chain money market, such as interoperable stablecoins, a synthetic asset platform, and a decentralized exchange. Equilibrium has emphasized that Quantstamp’s security audit will be much further-reaching than typical audits, which…

Chainlink (LINK) Starts Fresh Rally, Indicators Suggest A Run To $14

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Chainlink (LINK) started a strong rally after a major correction towards the $9.80 level. The price is up over 20% and it is likely to continue higher above the $12.50 resistance. Chainlink token price is surging and it recently broke the $12.00 resistance against the US dollar. The price is still trading well above $11.80 and the 100 simple moving average (4-hours). There was a break above a crucial declining channel with resistance near $11.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The pair is…