Day: October 26, 2020

Harvest Finance puts $100K bounty on alleged hacker

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Harvest Finance, a major decentralized finance protocol, has seemingly issued a $100,000 bounty in the aftermath of a $24 millon attack targeting its liquidity pools. In an Oct. 26 tweet, Harvest Finance said that there is enough data so far to identify the attacker, “who is well-known in the crypto community.” In addition to the BTC addresses which hold the funds, there is now a significant amount of personally identifiable information on the attacker, who is well-known in the crypto community. We are putting out a 100k bounty for the…

Ripple (XRP) Indicators Signaling Fresh Increase Above $0.26

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Ripple corrected lower from $0.2640, but it found support near $0.2510 against the US Dollar. XRP price is currently rising and it seems like the bulls are aiming a fresh increase above $0.2600. Ripple remained well bid above the $0.2500 and $0.2510 support levels against the US dollar. The price is now trading above the $0.2550 resistance and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair (data source from Kraken).…

40 Million Troy Ounces: Russia’s Gold Find Reaffirms Bitcoin as the More Scarce Asset

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News of the discovery of approximately 40 million troy ounces of gold in Russia’s Siberian region is likely to boost the profitability of the country’s biggest gold producer, while adding to the supply of the “scarce” resource. Reports say the Polyus owned the Sukhoi Log contains 540 million tonnes of ore, which translates to an average of 2.3 grams per ton. The reserves, which will account for a quarter of Russia’s gold stocks, are likely to generate $76 billion in revenues for Polyus when using current prices. How Bitcoin Compares…

Ethereum Stuck Below $410, Why It Could Correct Sharply Below $400

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Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support. Ethereum is facing a couple of major hurdles near the $410 and $412 resistance levels. The price is currently holding the $400 support and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a sharp downside correction below…

Bitcoin Hesitates Above $13.2K, But 100 SMA Could Trigger Another Increase

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Bitcoin price traded to a new monthly high at $13,352 before correcting lower against the US Dollar. BTC is currently trading nicely above the 100 hourly SMA and it could attempt another increase. Bitcoin is trading nicely above the $12,800 and $13,000 support levels. The price is holding gains above the 100 hourly simple moving average, with a positive angle above towards $13,300. There is a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Can Github Remove the Bitcoin Codebase? Recent Repository Takedown Has Proponents Worried

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On October 23, the Microsoft-owned Github leveraged an ostensible DMCA takedown in order to remove 18 projects from the code-hosting portal. According to sources, the takedown stemmed from a request filed by the Recording Industry Association of America (RIAA). Github’s recent move has made the crypto community quite leery of the platform and some proponents are scared that cryptocurrency codebases like Bitcoin’s can be taken down by government forces. This week the RIAA got the Microsoft-owned Github to remove a number of projects from the code-hosting portal. The code repositories…

Chainlink Forms Most Bullish Setup Ever as Chance of Upside Grows

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Chainlink has been consolidating within the mid-$12.00 region following its recent surge higher. The break into this price region has been significant, and where it trends next will likely depend on its reaction to the resistance established at $13.00. Yesterday, it was able to surge to this resistance level before facing some selling pressure that sparked a sharp selloff. Bulls have since been able to guard against any further downside, with each dip to $12.00 being followed by a rapid surge higher. This indicates that bulls still have some strength…

Bull or bear? Pros don’t care! Here’s 3 strategies every trader should know

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Those new to investing might think that professional traders spend the majority of their time staring at screens day and night in order to analyze the markets and pick the best trades but this could not be farther away from the truth. Having a good eye isn’t what differentiates top traders from average ones, it’s the application of tried and tested strategies that give pro traders the ability to stay net positive over long periods of time. Today we will discuss how the futures carry trade, funding rate, and use…