Day: November 5, 2020

Cardano (ADA) Needs To Clear $0.10 For Hopes of a Fresh Rally

boss

Cardano’s price is correcting higher from the $0.0880 support. Bitcoin price is surging, but ADA must climb above $0.0980 and $0.1000 to start a strong rally. ADA extended its decline towards the $0.0880 support before correcting higher against the US dollar. The price is now testing the $0.0950 resistance and it is well below the 100 simple moving average (4-hours). There is a crucial bearish trend line forming with resistance near $0.0960 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex). The pair is likely to start…

WTO blockchain report says customs remains ‘weak link’ of trade digitalization

boss

The World Trade Organization and Trade Finance Global have published their latest taxonomy of blockchain projects in international trade, arranged into what they present as a “periodic table” for the industry. The original rendition of the periodic table was published in winter 2019. Since then, a lot has changed: despite the pandemic, several indicators used in the table show that blockchain trade innovation projects worldwide are reaching ever greater maturity.  On a scale of one to five, projects’ maturity was assessed as being 2.3 on average in Dec. 2019. As…

Leverage is fueling Bitcoin’s rally to highest price since January 2018

boss

On Nov. 4, crypto data market aggregator CryptoQuant published a chart indicating Binance’s Estimated Leverage Ratio — open interest divided by Bitcoin (BTC) reserves — has pushed into new all-time highs. The record was set on Nov. 3 after a spike in open interest pushed Binance’s ELR above 0.18 for the first time. The spike in ELR came shortly before Bitcoin established a double-bottom at roughly $13,400. New data suggests Bitcoin’s bullish push into 2020 highs above $14,000 may have been fuelled by leverage, which could mean markets will continue…

Hash Watch: Bitcoin Cash Services Reveal Contingency Plans for Upcoming Fork

boss

The Bitcoin Cash blockchain is set to upgrade on Sunday, November 15 and it’s still expected that the network will bifurcate. So far, a number of crypto services have revealed contingency plans for the fork, and today’s data shows that 754 out of 1,000 bitcoin cash blocks were mined with the BCHN software. In 11 days, the Bitcoin Cash upgrade is coming and the latest feature that will be added to the network is the ASERT Difficulty Adjustment Algorithm (DAA). However, the community is also preparing for a contentious fork,…

Trezor’s failure to support upcoming BCH fork comes under fire

boss

Hardware wallet manufacturer Trezor drew criticism after it announced Bitcoin Cash (BCH) holders hoping to receive an airdrop with the hard fork expected for Nov. 15 will have to transfer their coins elsewhere. In a Nov. 5 announcement, Trezor’s parent company, SatoshiLabs, asserted it will wait for the community determine which Bitcoin Cash implementation will dominate the network moving forward: “SatoshiLabs will not be participating in the fork until a decision is made by the community. If you wish to take part in the fork, you should transfer your BCH…

CZ and Vitalik agree blockchain based voting is a must

boss

Binance’s chief executive CZ and Ethereum’s co-founder Vitalik Buterin are in furious agreement that a new blockchain-based voting system is required to improve democratic processes in the United States. But one won’t be as easy to implement as many think. Responding to prolonged uncertainty over the result of the controversial 2020 U.S. presidential election, CZ tweeted thnow is the right time for developers to build “a blockchain based mobile voting app.” Binance’s CEO argued that such a voting system would reduce the time taken to confirm the outcome of an…

Ethereum Prints Bullish Breakout, A Strengthening Case For $425

boss

Ethereum’s ether started a fresh increase above $385, following bitcoin’s rise above $13,800 against the US Dollar. ETH price is likely to continue higher towards $420 and $425. Ethereum is up over 5% and it broke the key $400 resistance level. The price is now trading above $404 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $385 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher once it clears the $408…

Australian Senator Andrew Bragg: Blockchain Can ‘Rebuild Confidence’ in Financial Services

boss

Australian Liberal, Senator Andrew Bragg has expressed optimism on the potential of blockchain technology to help ‘rebuild confidence’ in the financial services sector while helping to meet the regulatory compliance that borders around the industry. According to ZDNet, Senator Bragg made these comments at the Future of Financial Services 2020 virtual conference. “The future is technology by blockchain. It may well be the solution to one-touch government with international transactions in real-time. It will eliminate our time zone problem, which has been a problem for Australia over the long run,”…

Ajit Tripathi: Is PayPal Good for Bitcoin?

boss

Numbers go up! You only live once. That’s two crypto memes to describe how the crypto industry celebrated PayPal’s announcement that, from 2021 onwards, it will enable its 345 million customers worldwide to buy and sell bitcoin and other currencies from their accounts.  Ajit Tripathi, a CoinDesk columnist, is the crypto co-host of the Breaking Banks Europe podcast. Previously, he served as a Fintech Partner at ConsenSys and was a co-founder of PwC’s U.K. Blockchain Practice. Shortly thereafter, crypto euphoria hit new heights when Southeast Asia’s largest bank, DBS, announced…

ETH breaks multiple records as ETH 2.0 approaches

boss

Ethereum (ETH) has hit multiple records amid news that ETH 2.0 could launch as early as Dec 1, according to crypto analytics firm Glassnode.  Today’s launch of the deposit contract introduced the ability for users to deposit 32 Ether required to participate in staking. ETH 2.0’s beacon chain genesis will take place on Dec. 1 if at least 16,384 deposits of 32 ETH each are received. That’s a total of 524,288 ETH, or about $200 million worth. Hours after the news was published, the number of Ethereum addresses holding at…