Day: November 16, 2020

Trolled DeFi Token SushiSwap Posts 200% Revenge Rebound; What’s Ahead?

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It was not long ago when SushiSwap had earned itself the tag of “exit scam.” In early September, the decentralized exchange’s co-founder, known by the alias “Chef Nomi,” liquidated his SUSHI holdings. His move resulted in a 75 percent decline in the SushiSwap government token’s rate, with many agreeing that Nomi dumped the DEX project onto its community. Between then and November 4, 2020, the SUSHI/USD exchange rate fell by 96 percent. But from November 5, the pair started witnessing a new wave of capital injection. It surged by as…

Saudi Aramco Seeks Multi Tranche Bond Deal to Cushion Impacts of Low Oil Prices

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While the bond issuance is deemed necessary, it has caused rating agency Fitch to revise its stand on Saudi Aramco from stable to negative. Saudi Arabian multinational petroleum and natural gas company Saudi Arabian Oil Co (TADAWUL: 2222) also known as Saudi Aramco is seeking out a multi-tranche bond deal as a means to raise funds to beat the impacts of continuous dip in oil prices. As reported by Reuters, the Saudi Oil sovereign company is seeking out this debt instrument through the help of a consortium of banks, in…

Citibank analyst makes tentative $318K Bitcoin prediction for December 2021

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A recent Bitcoin (BTC) technical analysis prepared by CitiFX for its institutional clients points to a potential high of $318,000 sometime in December 2021. As highlighted by Twitter commentator Alex on Nov. 14, the exact figure is of little value over such a long time frame. However, the analysis does suggest that Bitcoin “price is likely to continue to go up, and a lot.” Describing Bitcoin as 21st-century gold, the analyst, Tom Fitzpatrick, first looks at the long-term trend of Bitcoin price, characterized as it has been by, “unthinkable rallies…

PayPal Reveals Reasons for Not Supporting Ripple’s XRP as Number of XRP Whales Rises

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Over the past week, XRP has been on a continuous rise like Bitcoin and Ethereum. With a market cap of over $12 billion, XRP is currently trading at $0.27. As the number of XRP whales rises, PayPal Holdings Inc (NASDAQ: PYPL) revealed its reason for not supporting the coin on its new crypto service. In partnership with Paxos Trust Company, PayPal said the joint venture followed the regulations laid down by the Securities and Exchange Commission (SEC). Over the past week, XRP has been on a continuous rise like Bitcoin…

Second Stimulus Package for Americans May Be Delayed

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JPMorgan chief US economist expects an around $1 trillion stimulus package early next year. However, Goldman Sachs analysts expect a $1 trillion stimulus package before the end of the year. Prior to the election, incumbent President Donald Trump had promised another stimulus package immediately after the election process, based on the assumption he would easily win the contest. However, with the shot backfired he is now left to fight with the President-elect Joe Biden and his team to settle for the next stimulus package. Disagreements between the White House and…

$2.3B in Bitcoin exchange outflows dwarfs the amount of new BTC mined

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From Oct. 15 to Nov. 15, Bitcoin (BTC) exchange outflows dropped from 2.5 million to 2.355 million, the lowest levels since August 2018. Approximately 145,000 BTC, worth $2.35 billion at a price point of $16,200, moved out of exchanges. Bitcoin exchange reserves since January 2018. Source: CryptoQuant In the same period, Bitcoin miners mined around 27,000 BTC, equivalent to around $437.4 million. Since miners have been mining 900 BTC daily after the May 11 halving, 900 BTC times 30 days equals 27,000 BTC. This aggressive accumulation trend seen in the…

Grayscale’s Bitcoin Cash Trust Loses $1.6M after BCH Hard Fork

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The Bitcoin Cash hard fork has pushed BCH price sideways with more sellers in the fray. The Grayscale Bitcoin Cash Trust reported a dip in the assets under management over the period of last week. On Sunday, November 15, as a result of hard fork, the Bitcoin Cash (BCH) blockchain split into two Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). The BCHA has put forward a new Infrastructure Funding Plan (IFP) that attracts an 8% “tax” on miner rewards which ultimately goes to the development fund. However, the…

Coins of Legendary Free TON Blockage Project Are Available for Trade at SIGEN.pro

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The failed launch of the Telegram Messenger cryptocurrency project is one of the central topics of the outgoing year. The whole global crypto community held its breath while following the development of the conflict between the SEC and Pavel Durov’s TON. Few people believed that such an ambitious undertaking, backed by such a strong effort and vast financial resources, could be simply abandoned because of the regulatory pressure from the United States. However, the regulator won the face-off, and, as a result of its decision, one of the largest developments…

MARKET WRAP: BITCOIN, ALTCOINS, STOCKS ALL MOVING DIFFERENT SO LET'S COMPARE!

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Live Technical Analysis on Bitcoin and the Cryptocurrency market. Hope you are able to benefit from these videos breaking down the charts. Good luck! Brave Browser Referral: Youtube BRAVE VERIFIED CREATOR accepting BAT tips! Like, Comment, Share, Subscribe! Tick the Bell for Notifications! This is not financial advice. I am not your financial advisor. These are my own opinions and ideas on the market. Do your own research. Trade at your own risk. I am not responsible for your money. ▶ Coinbase…

JNJ Stock Slightly Up as Johnson & Johnson Covid-19 Vaccine Enters Late Stage Trials

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If the company’s vaccine proves its efficacy, JNJ stocks are poised to significantly benefit from it and are likely to experience much higher volatility. American giant drugmaker Johnson & Johnson (NYSE: JNJ) has pushed the development of its COVID-19 vaccine a notch higher on Monday. The company announced that it has begun a new large-scale late-stage trial for its coronavirus vaccine candidate. Consequently, JNJ stock has jumped approximately 0.2% to trade around $150.20 during the after-hours trading session. JNJ stocks closed on Friday 1.08% up at $149.90. According to media…