Day: October 27, 2020

Stimulus Money Invested in Bitcoin Yields Half of Tesla’s Gains

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Negotiations over a new round of stimulus relief have dragged on for many months now. To make matters worse, both Democrats and Republicans have used the delay as a political ping pong to score points. But last week, House Speaker Nancy Pelosi indicated that she and Treasury Secretary Steven Mnuchin are close to agreeing on a deal. “We continue to be engaged in negotiations and I am hopeful we will be able to reach agreement.” Then again, with no deal signed into law, the outlook remains uncertain. Jack Gillis, Executive…

Bitcoin analysts say this BTC metric is in ‘belief zone’ for the first time in 15 months

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Bitcoin (BTC) might be in the early phase of a major new bull cycle, a key on-chain metric suggests on Oct. 27. The dominant cryptocurrency has entered the “belief zone,” which historically marked the start of explosive rallies. According to Glassnode, the last time the Net Unrealized Profit/Loss (NUPL) reached the belief zone was in June 2019. In the month that followed, Bitcoin rose from around $7,500 to $13,868 by over 80%. The NUPL of Bitcoin on top of its historical daily chart. Source: Glassnode What is NUPL and why…

Polkadot (DOT) Jumps 9% as Altcoins Bleed; What’s Driving This Rally?

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Polkadot’s native cryptocurrency DOT was among the biggest gainers in the last 24 hours even as other top altcoin projects reported losses. The DOT/USD exchange rate rose about 9 percent, hitting $4.93 as its intraday high during the European trading session Tuesday. The rally emerged out of nowhere, with no concrete fundamentals backing it as catalysts, leaving traders focusing on the pair’s technical prospects. DOT Setups Bullish One pseudonymous analyst on Twitter called it a breakout above a crucial technical resistance level at $4.50. He stated that he would open…

This Aggregator Promises Users Best Crypto Exchange Rates

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As an exchanger aggregator, BestChange.com pools a wide list of cryptocurrency and e-currency exchanges in order to allow users to select the most suitable exchanger for themselves. Entering the cryptocurrency market is a challenge for most newbies given the technicalities and the vast number of platforms available to buy these digital tokens. Due to this, most newcomers who want to buy crypto are driven to centralized exchanges, but there are better alternatives to purchase and sell crypto. Finding these alternatives is a challenge which may cause the buyer to spend more than needed on the purchase. BestChange.com is…

Researchers question what ‘trustless’ actually means for blockchain

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Crypto community members will likely be familiar with mantras such as “Don’t trust, verify!” or the “law of code.” Both refer to the promises of greater transparency and audibility and to a technology that offers to replace fallible, corruptible powerful actors with an actually functional rules-based order, secured through deterministic computation. The desire to dispense with the need to trust third-party actors is a mainstay with many cryptocurrency creators and users. Bitcoin (BTC), after all, was invented in the immediate aftermath of the 2008 financial crisis, and the abuse of authority…

‘Where are the LINK Marines?’ Chainlink beats Bitcoin with 610% YTD returns

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Bitcoin (BTC) may be down less from its all-time highs than any other cryptocurrency, but 2020 has so far been the year of Chainlink (LINK). In the latest edition of its Weekly Insights report on Oct. 26, The TIE noted that Chainlink has outperformed every other cryptocurrency with year-to-date returns of over 600%. Bitcoin down least vs. all-time highs Comparing altcoin performance, the report also highlighted Cardano (ADA) with 224% returns, Ether (ETH) on 217% and Monero (XMR) on 182%. The numbers provide a timely counterpoint for cryptocurrency spectators as…

Eight New Members Join Global Open DeFi Alliance Western Arm

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The Open DeFi Alliance supported by the Shanghai Science and Technology Committee seen new members with some of the top DeFi protocols forming a consortium that focuses on innovation, risk management, and liquid strategies.  Earlier today, the Open DeFi Alliance announced the launch of the new Western Arm while onboarding eight new members and some of the top DeFi projects in the market. The new members of the DeFi Alliance include some of the notable DeFi projects like BlockScience, Aave, DyDx, Balancer, Outlier Ventures, Ocean Ventures, QuantStamp, and SuperRare. Out…

Singapore’s largest bank reportedly launching crypto trading and custody

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DBS, Singapore’s largest retail and commercial bank, seems to be entering the cryptocurrency space with three new offerings. According to information seen by Cointelegrpah, DBS is launching cryptocurrency trading and custody as well as a platform for conducting security token offerings. Snapshot of new services to be offered by DBS. Source: Cointelegraph According to a description of the platform seen by Cointelegraph, DBS’ upcoming crypto service — the DBS Digital Exchange — will support five major cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Ethereum Classic (ETC).…