Day: November 4, 2020

Ethereum 2.0 begins launch process as deposit contract goes live

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Ethereum 2.0 Phase 0 has now been formalized for launch at some time around Dec. 1. The deposit contract is live and can collect the necessary funds to trigger staking. An update by the Ethereum Foundation released on Wednesday explains how the genesis process is expected to happen. Prospective stakers will now be able to deposit their 32 Ether (ETH) deposits to the contract via the dedicated launchpad and get ready for the launch. The contract must collect 16384 deposits of 32 ETH each, a total of 524,288 ETH or…

Bitcoin Abruptly Surges as the Dollar Falls—is This Sustainable?

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The price of Bitcoin (BTC) rose to $13,900 after declining to sub-$13,500 on the day. The catalyst behind BTC’s abrupt rally was likely the decline of the U.S. dollar, which fell after the election day. As the dollar slipped, Bitcoin, stocks, and treasuries rallied together. The Dow Jones spiked by 2.24%, surging by nearly 6% in the past five days. Albeit the strong momentum of Bitcoin, there are several worrying signs in the near term. The risks BTC faces in the short term include a high percentage of profitable addresses…

Bitcoin to Target $14,400 Despite No Clear Election Winner: Analyst

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Bitcoin’s price has been holding up quite well despite the volatility seen yesterday that came about due to a turbulent election that has yet to deliver any decisive results. This price action has done little to contribute to its mid-term outlook, however, as it is still trading below the resistance it has been facing around $14,000. Traders are widely noting that the cryptocurrency could be poised to see some significant upwards momentum in the near-term. One trader is specifically setting his sights on $14,400, noting that its price action has…

Ethereum 2.0 Countdown Begins With Deposit Contract Release

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Ethereum 2.0’s deposit contract is now live, heralding the imminent unveiling of the “world computer’s” second act. Released at 15:00 UTC, according to developer Afri Schoedon, the deposit contract is the first physical implementation of Eth 2.0 for everyday users. The deposit contract acts as a bridge between the forthcoming proof-of-stake (PoS) blockchain and the current proof-of-work (PoW) mainchain, valued at some $40 billion by market capitalization.  The genesis time for Eth 2.0 was first set for Jan. 3, the 12th anniversary of the launch of the Bitcoin network. The…

UnionPay to Debut Crypto Payment Cards in Partnership with Danal

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The proposed launch of the crypto payment card by UnionPay and Danal is daring amidst recent clampdowns of cryptocurrency-based activities by the Chinese government. Shanghai-based payment subsidiary of China UnionPay is set to launch a new set of cryptocurrency (Crypto) payment cards in conjunction with the Korean payment provider Danal. According to the South China Morning Post (SCMP), the new virtual prepaid cards will be used by travelers to facilitate payments in different countries including China. The card from the duo of Danal and China UnionPay, the Chinese model of…

First Mover: Just Another Day for Bitcoin as US Election Slides Into Discord, Division

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Bitcoin (BTC) was lower, searching for direction as uncertainty over U.S. election results hung over global markets. Prices were down about 2.2% to about $13,700, staying roughly in their range over the past week.  With major states yet to be called in the U.S. presidential race and Republican incumbent Donald Trump accusing Democrats of trying to “STEAL” the election, the early read is that bitcoin prices are reflecting an increased likelihood of prolonged uncertainty or political gridlock that might hamper a quick economic recovery. In traditional markets, yields on U.S. Treasury…

Cross-Chain DEX Chocoswap Partners with ONTO Data Wallet

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According to Shawn You, co-founder of Chocoswap, “the large user base of ONTO will become the cornerstone of Chocoswap’s further development.” Chocoswap, dubbed a cross-chain decentralized crypto exchange, announced a strategic partnership with ONTO data wallet from Ontology. According to a medium post by Chocoswap, there are several notable benefits of the partnership between the two entities. One, as a result of the partnership, the two companies can provide comprehensive asset management to their customers. Secondly, users from both entities can now access cross-chain swap services, thus reducing the threshold…

Dow Soars Even as Trump Falsely Claims Presidential Victory

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The Dow Jones Industrial Average rose by as much as 270 points on Wednesday. There is no clear winner yet to the U.S. presidential election as votes are still being counted in key battleground states. A delayed result makes passing additional fiscal stimulus in the coming weeks unlikely. The Dow and broader U.S. stock market traded higher on Wednesday, as investors hoped that a delayed or contested U.S. presidential election outcome would be avoided and a clear winner would emerge on Tuesday night. Their hopes didn’t materialize. Trump falsely claimed…

Why $14K looks eerily similar to $700 during the 2016 election

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While most investors and traders anticipated massive volatility to occur through the election hours, little has happened. Bitcoin’s price is still relatively stable and hovering under the crucial resistance of $14,000. At the same time, Bitcoin’s price has been moving in tandem with equity markets over the past 24 hours. Bitcoin still can’t break the $14,000 resistance BTC/USD 1-week chart. Source: TradingView The weekly chart is showing a very healthy setup as the price movements look natural and organic via testing every previous support and resistance levels before continuation occurs. As the…

Ukrainian Esports Organization Natus Vincere to Launch NAVI Fan Token on Socios.com

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Natus CEO Yevhen ‘HarisPilton’ Zolotarov noted that the organization is transitioning to a more dynamic technology that engages with the audience more. Natus Vincere, alias NAVI, a Ukraine-based esports organization, has announced plans to launch a fan token dubbed $NAVI through Socios.com. According to the announcement made by Socios.com through a Medium post, the $NAVI fan token will give its users numerous advantages. Natus Vincere and Its NAVI Token on Socios.com Notably, the $NAVI token holders will have the right to vote in polls organized by Natus Vincere. In addition,…