Day: October 28, 2020

ASX Further Delays Blockchain Transition Until 2023

boss

ASX Ltd, Australia’s bourse operator, has now pushed the date of its blockchain-based clearing system launch until April 2023. On Wednesday, ASX issued a statement saying that it had conclusively consulted market participants and reached the resolution to move the scheduled launch on April 2022 to now 2023. “The industry … requested substantially more post-trade processing capacity than what had been contemplated pre-COVID-19. This is in response to the extreme increases in trading volumes on the ASX platform during the most volatile period of the pandemic in March,” the company…

Bitcoin Retains US Stock Correlation Following Latest Sell-off

boss

Bitcoin fell Wednesday, almost alongside the US stock futures, as a rising number of coronavirus cases sent investors to the safety of the US dollar and Treasuries. The benchmark cryptocurrency dropped 3.5 percent ahead of the New York opening bell. Its move downside came as a price correction that followed a 23 percent rally, suggesting that traders with short-term market outlook were locking their profits. The Bitcoin’s price depreciation also brought the cryptocurrency back in sync with the US stocks. Futures tied to the S&P 500 plunged 1.5 percent in…

The Most Secure Cryptocurrency Wallets for Different Users

boss

Cryptocurrencies have the potential to disrupt traditional finance, by allowing people to retain full control over their assets at all times — without relying on centralized intermediaries like banks and governments. But despite their potential, many users struggle to choose a wallet to hold and manage their assets with, since there is no one size fits all wallet solution for cryptocurrency users. But despite this, there are several that stand apart from the rest since they cater perfectly to specific user demographics. Here, we look at three of the best…

Root Manages to Raise $724.4 Million via IPO

boss

Having raised substantial capital through the IPO, Root will be able to offset its $200 million debt in the near future. Root Inc, the parent company of Root Insurance Company, has raised $724.4 million through an initial public offering (IPO) after selling 26,830,845 shares of its Class A common stock at a price of $27.00 per share. According to the prospectus, the underwriters have an option of a 30-days period to purchase additional 4,024,626 shares of Class A common stocks. Shares of Root are to start trading on the Nasdaq…

ADD.XYZ Is Introducing Privacybydesign, ERC-20 Privacy Anonymizer with Yield Farming

boss

Add.xyz relaunched in September 2020 as the first full-stack defi platform aggregating Lending, Insurance, Privacy, Governance and Staking into one platform for ease of use for users. Privacy Mixers and Yield Farming on Add.xyz For the first time, we will be implementing yield farming, in what would probably be the first real yield farming based product with a real use-case – Privacy. We have taken the first steps by designing a lending platform whereby users can use the bl3nd3r privacy anonymizer at the deposit or withdrawal stage of lending, or…

Bitcoin Hashrate Nosedives as Chinese Miners Move On

boss

The last 24-hours has seen the price of Bitcoin up 4% to $13.6k. Despite concerns of being overbought, the number one cryptocurrency continues hurtling towards key resistance at $14k. Source: BTCUSDT on TradingView.com Nonetheless, as CasaHODL Co-founder and CTO Jameson Lopp noted, despite Bitcoin’s price gains, Bitcoin’s hashrate has suffered a steep decline since the start of the week. Lopp says this is due to seasonal trends as Chinese miners relocate for the dry season. At the same time, he mentions China’s diminishing share of the hashing power and how…

Bullswap: Bringing in the Wave of Defi and Power of Decentralized Exchanges

boss

BullSwap is a fully decentralized exchange. It’s a 100% on-chain market making which allows swaps to occur between ERC20 tokens in a fully decentralized and secure way. Defi is turning the global economy on its head for the past year. The finance sector is getting more transparent with the Defi movement that is changing the old financial products into trustless protocols that do not require intermediaries. DeFi apps are an amalgam of decentralized applications (DApps), digital assets, and protocols that leverage the public blockchains like Ethereum. Why Do We Need…

Bitcoin price drops to $13.3K after matching peak of 2019 bull run

boss

Bitcoin (BTC) retreated to $13,300 on Oct. 28 after a retest of its 2019 resistance levels was met with rejection.  Cryptocurrency market overview from Coin360 Data from Cointelegraph Markets, Coin360 and TradingView showed volatility rising during Wednesday after BTC/USD hit $13,850. After failing to reach $14,000, uncertain conditions prevailed, culminating in a brief dip to $13,300 at press time. A subsequent rebound saw $13,400 become a focal point, with sudden upward and downward movements continuing to characterize the market. BTC/USD 1-day chart. Source: TradingView Wednesday saw an unusually large transaction…

JPMorgan Woes Banks to Build on Its Updated Liink Banking Network

boss

The Liink network was revamped with two crucial feature additions including the Confirm and the Format features. American multinational investment bank and financial services holding company JPMorgan Chase & Co (NYSE: JPM) is enticing banks and fintech companies particularly those within its network to come and build applications on its Liink Banking Network, an updated or revamped version of the Interbank Information Network. As reported by Coindesk, the Liink Banking Network is not an open-source application but is decentralized and has the capability to serve as the backbone to unique…

Visa Faces Antitrust Scrutiny Over $5.3 Billion Deal to Acquire Plaid

boss

If the deal with Plaid takes place, Visa will have access to 2,600 fintech apps and about 200 million bank accounts of users. Visa Inc (NYSE: V) is currently facing antitrust scrutiny over its deal to acquire fintech firm Plaid. The U.S. Department of Justice is concerned that the payments giants are about to acquire a potential competitor. Hence, the department has filed a petition with a court in Massachusetts, requesting more details on the deal on the 27th of October.  Visa Faces Antitrust Scrutiny Over Acquisition of Plaid In…