Day: November 4, 2020

An alt chain with interoperability on the horizon

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The Polkadot blockchain platform only launched its mainnet in May, but it is already pushing to become a major competitive force in the sector. In late August, following a DOT token redenomination, Polkadot smashed into the top 10 cryptocurrencies, overtaking established altcoins such as EOS, Litecoin (LTC) and others.  Kelvin Koh from Asian crypto fund Spartan Black previously said that Polkadot could rank in the top three blockchains. Elsewhere, Dan Morehead from Pantera Capital Management also recently shared his sentiments with Bloomberg, highlighting that although Polkadot is currently trading at…

US Presidential Election Unlikely to Alter Bitcoin’s Path: Analyst

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Crypto analyst George McDonaugh says that the U.S. presidential election is unlikely to change the bitcoin price’s upward trajectory. He draws on a number of fundamental and technical factors to illustrate his point. For example, McDonaugh argues that the recent surge in the price of bitcoin (BTC) is actually part of a sustained rally since the ‘Covid capitulation’ event back in March. “Since then we’ve seen nothing but bullish signals appear one after another,” McDonaugh said, in thoughts shared with news.Bitcoin.com “We’ve seen four straight ‘higher lows’ play out (if…

U.S. Court Orders Telegram to Pay $625,000 to Lantah

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The legal dispute with Lantah continued till August even after Telegram was forced to leave its TON project.  Telegram Messenger Inc. will pay fees worth $625,000 to crypto firm Lantah LLC which the messaging platform sued in 2018. At the time, Telegram sued the crypto firm for using ‘GRAM’ as its crypto ticker and trademark.  On the 2nd of November, a U.S. district court judge Charles Breyer ordered Telegram to pay Lantah $618,240 in attorney fees. The fund would serve as compensation for the attorney fees Lantah incurred during the legal battle.…

Alibaba Shares Tanked 7.54% after Halt of Ant Group’s Record IPO

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The impact of these suspensions has taken its toll on Alibaba and the company’s shares beyond Asia and the company’s stock lost about 8% on Tuesday on NYSE. The shares of Alibaba Group Holding Ltd (HKG: 9988) plunged by about 7.54% on Wednesday in Asia trade. The plunge became imminent following the suspension of the public listing of Ant Group on the floors of the Shanghai Stock Exchange as well as the Hong Kong Stock Exchange. According to an earlier report by Coinspeaker, the suspension of the Ant Group’s IPO…

Bitcoin sees record 100 days above $10K as one analyst eyes ‘parabolic’ 2021

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Bitcoin (BTC) has officially beaten a new record as BTC/USD trades above $10,000 for 100 days, and major gains should come next. As voting in the United States’ presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own — 100 days straight trading in five figures. Bitcoin sees record stretch above $10,000 The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC/USD swiftly increases by an order of…

3 Major Reasons Why Chainlink (LINK) Could Fall by 25%

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As a startup, Chainlink solves a significant obstacle that concerns transferring data between blockchains and the real world. The protocol, whose origins date back to September 2014 – a period when half of the world have not even heard about blockchains and Bitcoin, offered a solution that enables independent data sources to feed information into public ledgers through a decentralized oracle network. Flash forward to 2020, Chainlink is now part of 315 blockchain projects, including decentralized finance protocols, data providers, blockchain nodes, and whatnot. #Chainlink ecosystem growth never slows with…

No More Gas Fees with Shadow Staking from SpaceSwap

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Developed by the SpaceSwap team, shadow staking minimizes the number of transactions within the network and makes the process transparent. The DeFi market is arguably the hottest trend in the cryptocurrency space right now. It is almost at the same level of excitement as the market was in late 2017, though this time, the interest is much more reserved. Furthermore, investors are now warier of the technology, so there are more usable platforms and protocols on the market right now, as opposed to the dime-a-dozen ICO’s that existed in 2017.…

Why Blockchain Analytics Firms Have Privacy Advocates Worried

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Privacy advocates argue that blockchain analysis is essentially blockchain surveillance and, by contracting with governments, firms offering analytics are laying the groundwork for additional forms of mass surveillance. Western tech firms aided dictators during the Arab Spring and helped shut down the internet during protests in Belarus, leading to concerns that blockchain surveillance may eventually be used by more authoritarian countries. The debate highlights the tension between crypto transparency that encourages wider adoption and the core importance of privacy, a cornerstone of the cypherpunk ideology, to Bitcoin’s future. Blockchain analytics…

Binance takes credit for thwarting an attempted exit scam on its blockchain

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Binance announced Wednesday the successful recovery of $344,000 in funds from the attempted exit scam of Wine Swap, a project on the Binance Smart Chain (BNB). Wine Swap was an automated market maker platform similar to Uniswap that launched on Oct. 13. Within an hour of the launch, it had amassed $345,000 in funds, which were promptly pulled from the platform by the creators of Wine Swap. The funds were then spread across several directions in a bid to get them out of Binance Smart Chain. The majority were swapped…

BTC, Stock Market Stay in Green as Uncertainty Rocks Election Outcome

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The performance of both Bitcoin (BTC) and the major stock indexes, in particular, has remained resilient these days. The ongoing count of the United States presidential election votes has seemed to play a little role in causing the lunge in the price of Bitcoin (BTC), as well as the stock market. According to CoinMarketCap, Bitcoin has risen 1.53% in the past 24 hours without any changes in the past hour at the time of writing (GMT+1, 11:45 am). The stock market is also seeming unperturbed with the ongoing result announcements…