Day: October 23, 2020

IBM and R3 to Scale Up Hybrid Cloud with Blockchain Capabilities

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Tech giant IBM has teamed up with R3, an enterprise software company, to boost hybrid cloud with blockchain capabilities so that the highest levels of data privacy, compliance, and performance can be achieved. Building blockchain solutions for enterprises in regulated fields Through the strategic partnership, a new open beta program will integrate R3’s blockchain platform Corda Enterprise with IBM LinuxONE, enterprise Linux servers for cloud solutions, from next month. As a result, the hybrid cloud will be enhanced both on-premises and the IBM cloud. THe hybrid cloud is an environment…

PayPal Makes Swift Moves As It Seeks to Acquire Crypto Custodian BitGo

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Sources familiar with the matter said that the two companies are currently holding talks and could make an announcement soon. The acquisition is likely to give PayPal a major lead in the crypto trading market going ahead. Just two days after online payments giant PayPal announced its decision to offer crypto trading services, there’s yet another news in the market. Citing familiar sources, Bloomberg reported that PayPal Holdings Inc (NASDAQ: PYPL) is looking ahead for the acquisition of crypto custodian BitGo. The anonymous sources also reported that the companies might…

Three Trends Killing Web Privacy and Decentralization

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The World Wide Web has revolutionized human communication, but it’s under threat. We at Brave think this distributed and interlinked information system is unique among platforms for many reasons: Its design and direction aren’t controlled by any one organization. Its pages and applications are modifiable by users (e.g., extensions, ad/tracker blocking, more general browser configuration, etc). And its decentralized design gives the web the potential to be more privacy-preserving than any other system. Brendan Eich, is the CEO and co-founder of Brave. Peter Snyder is a senior privacy researcher at…

Traders on Paxful sell $16.2M of Bitcoin for discounted gift cards each week

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A report published by Arcane Research has revealed that nearly half of Paxful’s trade volume comes from trade between Bitcoin (BTC) and gift cards. The report found that, “purchasing Bitcoin with gift cards has been the preferred solution on Paxful each month throughout the five-year span analyzed,” and in June accounted for 48% of Paxful’s volume. Paxful processes nearly $40 million in weekly trade, which means up to $20M of BTC is exchanged for gift cards every week. Arcane highlighted the last week of June this year in the report,…

SpectroCoin Is Driving Crypto Lending to Mainstream

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SpectroCoin is bringing crypto lending to the mainstream and supports more coins beyond ETH. Leading cryptocurrencies are valuable. They are enablers allowing users to move value in closed ecosystems. Systems like Bitcoin, Ethereum, XRP, and others are common examples.  The Rise of Crypto Lending In the early days, digital currencies were highly speculative. However, times are changing and ownership of these assets are now viewed as a means of accumulating wealth through capital gains. Highlighting the growth of crypto is the rise of lending platforms. Crypto loan platforms like SpectroCoin…

TA: Ethereum Bulls Aim Big After Recent Surge Above $400: Rally Isn’t Over Yet

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Ethereum surged over 10% and it settled nicely above the $400 resistance against the US Dollar. ETH price is consolidating gains and it seems like it could rally further above $420. Ethereum gained bullish momentum above the $400 and $410 resistance levels. The price traded to a new monthly high at $422 and settled above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $411 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to surge above…

Bitcoin Short-term Pullback Could Be Attractive To The Bulls

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Bitcoin price extended its rise and traded to a new monthly high near $13,200 against the US Dollar. BTC is currently consolidating gains and dips are likely to remain attractive. Bitcoin is trading nicely above the $12,650 and $12,750 support levels. The price is attempting a fresh break above $13,000 and it is well above the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $13,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Funds locked in DeFi surge $1B as analyst tips post-election bull run

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Following a six week cooling-off period for the majority of decentralized finance protocols, the DeFi bulls are back in action as total value locked surges to new record highs. The amount of crypto collateral locked across various DeFi protocols has hit a new all-time high of $12.3 billion according to DeFi Pulse. In just 48 hours, over one billion dollars has been added to the total USD value, although precise figures vary on other analytics platforms such as Coingecko and Coinmarketcap. TVL on Coingecko’s tracker reports it to be around…

Ethereum set to become first blockchain to settle $1 trillion in one year

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The third-quarter decentralized finance (DeFi) boom has resulted in the Ethereum (ETH) network processing more than twice the daily transaction volume of Bitcoin (BTC). According to crypto market data aggregator Messari, the 30-day rolling daily average for Ethereum transaction volume is currently $7 billion, with Bitcoin processing less than $3 billion. If the current trend continues, Messari predicts Ethereum will become the first public blockchain to settle $1 trillion in transfers over a calendar year. Ethereum’s previous strongest calendar year relative to Bitcoin was 2018, when it processed half a…

8 Countries Stricken With Rampant Inflation See Bitcoin Prices Touch All-Time Highs

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The price of bitcoin touched new highs in 2020 and a number of supporters are optimistic that the crypto asset’s value will drive higher. In addition to this year’s bitcoin price high, around eight different countries have seen bitcoin touch all-time highs (ATH) in their local currency. The bitcoin ATHs in these countries show how rampant inflation has ravaged these currencies a great deal during the last year. 2020 has been a hard year as far as the global economy is concerned, and the nation state’s responses to the coronavirus…