Day: November 10, 2020

West African Program Will Store Weather Data on a Blockchain

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Telos has partnered with open-source weather technology company Telokanda Weather Group to launch an initiative to collect and share weather data in West Africa on the Telos public blockchain.  Telokanda will use the Telos blockchain to help university students and farming communities record and share weather data with the goal of improving climate research, hurricane tracking and local weather forecasting, the companies said in a statement Tuesday. According to the announcement, the project was developed by a team in West Africa which includes former Boeing and NASA engineer Nicolas Lopez. …

3 Reasons Ethereum’s Future Hangs in Balance Over EIP 1559 Reform

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If there’s one thing this summer’s DeFi boom taught us, it’s that the Ethereum gas fee structure needs reform. Although things have calmed down since the summer, rip off fees, and stuck transactions are still a problem for Ethereum users. So much so, a failure to address the problem will only give rival blockchains an edge in stealing market share. The issue comes down to Ethereum’s auction transaction pricing mechanism. Under this system, users are encouraged to outbid others to get their transactions mined onto the blockchain quicker. This incentivizes…

AAPL Stock Down 2%, Apple’s ‘One More Thing’ Event Happening Virtually Today

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The ‘One More Thing’ event is to be held virtually from the Apple Park at 11:30 pm (IST) via the dedicated Apple Events mini-site. Apple Inc (NASDAQ: AAPL) shares closed Monday’s trading session at $116.32, 2% down. The drop had further continued during Tuesday’s premarket as they were approximately 1.39% down. The downfall comes at a time when Apple is expected to unveil a new line-up of Silicon-powered Mac notebooks and computers during the November 10 ‘One More Thing’ event. Apple has its market valuation at $2.02 trillion with 17…

Indicator with 70% Success Rate Sees Chainlink (LINK) At All-Time High

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A brief pause in the Chainlink (LINK) uptrend has prepared the token for a major bull run. That is according to a technical indicator that has emerged following LINK’s latest rebound. Dubbed as “Bull Flag,” the pattern appears as a downside correction during an uptrend. Most traders treat its occurrence as a sign of bullish continuation, given the price action meets certain criteria. For instance, the LINK/USD exchange rate confirms a Bull Flag formation because: The pair logged a preceding uptrend (a flagpole of the length of $13.48). It consolidated…

VF Corporation Inks $2.1 Billion Deal with Streetwear Brand Supreme

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Both firms will learn to adapt to one another’s culture while CEO of Supreme James Jebbia and the senior leadership team will remain with the company at its base of operations in New York. American worldwide apparel and footwear company, VF Corporation (NYSE: VFC) has announced the purchase of popular streetwear brand Supreme. The acquisition which according to Bloomberg is valued at $2.1 billion will help VF Corporation to expand its retail expansion through digital offerings that Supreme is known for. Despite the COVID-19 pandemic limiting the purchasing power of…

JPMorgan: Institutional Investors Pumping Money Into Bitcoin Over Gold

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Smart institutional money prefers bitcoin to gold. Bullish on Bitcoin In a research note published on Friday, JPMorgan analysts noted that an increasing number of institutional investors, including family offices, are considering looking at bitcoin as a legitimate alternative to gold. According to the note, JPMorgan analysts found that through October, Grayscale’s bitcoin trust witnessed strong cumulative inflows. At the same time, gold exchange-trade funds (ETFs) saw “modest outflows” since October. The analysts said, “This contrast lends support to the idea that some investors that previously invested in gold ETFs…

Self-Made Billionaire Stanley Druckenmiller Says He Owns Bitcoin

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Stanley Druckenmiller is betting on Bitcoin against the dollar that has been depreciating in value ever since the coronavirus outbreak. In an interview with news outlet CNBC, self-made billionaire and leading hedge fund manager Stanley Druckenmiller said he owns Bitcoin as a hedge against the falling US dollar. However, Druckenmiller said his good position is “many, many more times” larger than his Bitcoin allocation. Both gold and Bitcoin have been cited as leading safe havens in their respective fields. However, the debate on which asset between the two is much…

Bayern Munich taps the trend for blockchain-based fantasy soccer

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German soccer club FC Bayern Munich, which plays in the country’s Bundesliga, is entering the world of blockchain-based fantasy soccer. The Ethereum blockchain-based fantasy soccer game Sorare, which Bayern joined this week, already counts over 100 participant clubs, including high-profile names such as Paris Saint-German, Juventus, PSG, and Atletico Madrid. FC Bayern Munich is itself no stranger to collaborations with blockchain projects, having partnered last fall with Stryking Entertainment to produce digital collectibles of its players. These cards are both collectible and playable as part of a fantasy-league style challenge.  In announcing its…

Why billionaires are suddenly accumulating Bitcoin after 113% YTD gain

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Billionaires have been increasingly accumulating Bitcoin (BTC) in recent months. Following Paul Tudor Jones’ lead, hedge fund manager Stanley Druckenmiller became the latest billionaire to publicly disclose his Bitcoin investment. The performance of Bitcoin since 2015. Source: TradingView.com There are four main reasons Bitcoin is becoming more compelling to high-net-worth investors. The reasons are Bitcoin’s effectiveness as a portfolio diversifier, inflation hedge, gold alternative and large risk-reward potential. Investors increasingly viewing Bitcoin as “gold 2.0” Gold is an important store of value and a safe-haven asset for institutional investors. It…