Day: November 5, 2020

Crypto-powered prediction market flourish during US presidential election

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The 2020 U.S. presidential election has driven significant action across crypto-powered predictive markets. Ethereum’s co-creator Vitalik Buterin took to Twitter during the counting of votes to praise the success enjoyed by crypto-powered prediction platforms amid the election season, stating: “Regardless of who wins from here, I definitely think that the prediction markets have proven themselves more accurate than the polls/models this time around.” Traditional polls have shown Biden with an eight-point lead since the start of November. But presidential futures tokens have swung wildly in response to events. The election…

Bitcoin Jumps To New 2020 High, US Election Results Could Spark Rally To $15K

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Bitcoin price is rising steadily and it even broke the $14,000 resistance against the US Dollar. BTC is showing positive signs and it seems like US election results might trigger swing moves. Bitcoin remained in a positive zone and it climbed above the $14,000 resistance zone. The price traded to a new 2020 high at $14,338 and it is well above the 100 hourly simple moving average. There is likely a rising channel forming with support near $13,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Wall Street Veteran Mike Novogratz Says Bitcoin Is In a Bull Market

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Bitcoin has seen a rapid rally over the past few weeks after falling as low as $9,800. Bulls rapidly bid that bottom as the market printed sub-five digit prices for the first time in many weeks. The cryptocurrency now trades at $14,300, even in the face of bearish news events such as OKEx shutting down withdrawals and the $200 million hack of the crypto exchange Kucoin. Mike Novogratz, CEO of Galaxy Digital and a former Goldman Sachs partner, is now convinced that Bitcoin is in a bull market. Of note,…

$5M staked in eight hours as community cautiously backs ETH 2.0

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The long awaited deposit contract for Ethereum 2.0 has finally been deployed opening the doors to staking opportunities for ETH holders. Deposits began in earnest with over $1 million in ETH landing in the contract within the first half an hour according to observers like The Crypto Cactus. “$1,000,000 locked in $ETH 2.0 in 30 minutes … Just remember for anyone staking, one way bridge.I have sent across 32 ETH.” At the time of writing, around eight hours after the official announcement, just over 14,000 ETH has been staked according…

Uniswap’s UNI is About to See a Liquidation Flood as Price Breaks $2.00

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Uniswap’s UNI token, like many other digital assets residing within the DeFi sector, has seen an intense selloff throughout the past couple of months, with its post-launch highs of $8.50 marking a macro top that is now over 4x above where it is currently trading. The recent decline has come about as some large holders begin offloading their UNI, with one investor selling 1.5 million tokens on Binance earlier today. This influx of selling pressure that the Uniswap governance token has been facing may just be getting started, and it…

Ethereum and EOS Blockchain Used by Associated Press to Publish US Presidential Election Results

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American non-profit news agency Associated Press (AP) has published the results of the United States Presidential Election on the blockchain. As depicted on the Associated Press Elections API, the results of the election are being recorded on both the Ethereum and the EOS blockchains respectively. The news about the possibility of Associated Press publishing the results of the US presidential elections involving the major contenders including incumbent President and Republican Party candidate Donald Trump and Democratic Presidential Candidate and former Vice President Joe Biden broke out in October. The initiative…

Pro-Bitcoin candidate wins Wyoming senate seat

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Former Republican congresswoman and current Bitcoin holder Cynthia Lummis has won a seat in the U.S. Senate against Democratic challenger Merav Ben-David. According to a Nov. 4 report from Fortune, Lummis was an early adopter of Bitcoin (BTC), having first purchased the cryptocurrency in 2013 thanks to a tip from her son-in-law, Will Cole. Cole has served as the Chief Product Officer at blockchain financial services firm Unchained Capital since December 2019. “Cynthia believes in the philosophy behind Bitcoin, not just that it is a new asset class,” said financial…

Ethereum Surges 8% in Past 24 Hours as ETH2 Deposit Contract Drops

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After a strong drop earlier this week, Ethereum finally gained some strength on Wednesday. The price of the leading cryptocurrency surged 8% higher in the past 24 hours from $375 to a high around $409. Ethereum currently trades for $404 after a slight pullback from the daily highs. Analysts are optimistic about Ethereum’s prospects as technical trends align in favor of further growth. There are also fundamental trends that indicate ETH will continue its ascent in the days ahead. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A…

Chainlink On The Cusp Of Critical Weekly Close, Breakdown Imminent

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Chainlink is now trading at half of the price it was at just months ago, after entering price discovery mode and setting new high after high. If the once-unstoppable altcoin cannot close this week’s candle above $11 per LINK token, then its price could sink a lot further instead. Why Chainlink’s Weekly Close Is Its Most Crucial Yet Chainlink’s 2020 has been even brighter than it has been for Bitcoin or Ethereum by far. Even after dropping more than 50% from highs, the altcoin still has over 400% ROI to…