Day: October 28, 2020

Curve Finance (CRV) Spikes 100% on Peaking Trade Volume; What’s Next?

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The price of Curve Finance’s governance token CRV spiked by more than 100 percent as the decentralized exchange (DEX) experienced a massive surge in trade volume. Earnings Curve Finance processed about $2.8 billion worth of trades on Monday, almost 450 percent higher than its previous record high in September 2020. The jump in its trade volume coincided with a similar spike in the UniSwap decentralized exchange – of about $2 billion. Curve.fi total underlying volume. Source: Dune Analytics Together, the DEX platforms reported a $5.8 billion in total volume on…

Unconfirmed transactions on Bitcoin network at highest level since 2017

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The Bitcoin network has slowed down amid Bitcoin’s (BTC) new price highs, causing a large number of unconfirmed transactions. According to mempool transaction count on Blockchain.com, the number of unconfirmed Bitcoin transactions surpassed 100,000 on Oct. 27. This is the highest number of unconfirmed Bitcoin transactions recorded since late 2017 when Bitcoin hit $20,000. The all-time high of unconfirmed transactions in the Bitcoin mempool was recorded in early December 2017, accounting for about 180,000 transactions, according to data from Blockchain.com. Total of unconfirmed transactions at publishing time. Source: Blockchain.com The…

High DeFi Yields Threat to ETH 2.0 Staking, Says ConsenSys 

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ConsenSys expects DeFi providers and protocols to be fair enough and provide liquid tokens that resonate with the ETH value that an investor stakes. According to ConsenSys‘s latest Q3 DeFi report, the surge of DeFi and its high yielding liquidity provision opportunities could, in the future, be a barrier to participants who want to stake as soon as ETH 2.0 Phase 0 is unveiled. Better earning opportunities that are found on decentralized finance protocols may limit staking on Beacon Chain, Ethereum’s forthcoming project. Beacon Chain launch could take place within…

FSLR Shares Up 14% in Pre-Market as First Solar Reports Profitable Q3

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The strong Q3 performance of First Solar is reflected in its stock price as the shares have upturned the loss seen on Tuesday and now are over 14% up. The shares of First Solar Inc (NASDAQ: FSLR) has seen a massive surge in the pre-market following the release of impressive Q3 performance. Per the reports, the company reported a Net sales of $928 million with a net income per share coming in at $1.45, a big boost from the $0.35 reported in the second quarter 2020. This performance was better…

J.P. Morgan Creates Onyx Blockchain Unit As JPM Coin Leveraged for Cross-Border Payments

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JPMorgan Chase, the largest bank in the United States, has finally found its digital currency, the JPM Coin being leveraged for commercial purposes. The major US bank has created a new business unit dubbed Onyx to house its digital currency and blockchain efforts. Commercialization of blockchain technology According to Takis Georgakopoulos, the bank’s global head of wholesale payments, JPM Coin is being used by a large technology client to send payments globally. He noted: “We are launching Onyx because we believe we are shifting to a period of commercialization of…

Telos launches new gig economy platform on the blockchain

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Blockchain developers can’t be accused of failing to keep up with the times. The unprecedented shake-up in the world’s labor markets during the COVID-19 pandemic is accelerating the underemployment trends of recent decades. Signs of a jobless recovery ahead is spurring citizens to turn to all kinds of digital piecework in the absence of social security and conventional employment benefits.  To weather the sharp economic contraction and unpredictable pandemic lockdowns, 41% of businesses in a recent survey said they plan to expand their use of contractors for task-specialized work. Even ahead of the current…

Top Analyst Explains Why Ethereum Could Outperform Bitcoin This Cycle

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Ethereum has strongly underperformed Bitcoin over the past two weeks. As BTC has shot around 20% higher in the past 10 days alone, ETH has gained approximately 8%. This trend is not isolated: almost all leading altcoins are underperforming Bitcoin. The severity of BTC’s spike to the upside has compressed gains in altcoins as all focus and capital is focused on Bitcoin. While some think this will be a fixture of this cycle, a prominent crypto-asset analyst recently made the case for why Ethereum may outperform Bitcoin all this cycle.…

Whale cluster at $13K is now a support zone

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According to on-chain data from the analysts at Whalemap, $13,000 has become a support level for the price of Bitcoin (BTC). Whale clusters indicate that whales — or large BTC holders — are continuously accumulating. Whale clusters form when a large number of BTC are transferred to a new address and the BTC is unspent. This indicates that whales either bought or transferred their BTC to other whales, signifying buyer demand. A large whale cluster has emerged at the $13,000 level, which could turn into a key support level. A…

Better Earnings Results, Weak Q4 Outlook, MSFT Stock Down

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For the September quarter, Microsoft managed to comfortably beat Street estimates driven by a significant surge in the demand for its Azure cloud and software services. On Tuesday, October 27, software and computing giant Microsoft Corporation (NASDAQ: MSFT) announced its September quarter results beating Street estimates. The company’s cloud computing division helped to boost its revenue beyond analysts’ expectations. Microsoft reported earnings of $1.82 per share with a total revenue sales of $37.5 billion. This was above the expected earnings of $1.54 a share and sales of $35.72 billion. On…