Month: November 2020

Bullish Indictor Prepares Yearn Finance (YFI) For Record High; Here’s How

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According to a textbook bullish indicator, Yearn Finance’s governance token YFI is preparing to target its all-time high. Dubbed as “Ascending Triangle,” the pattern envisions YFI/USD just shy of $44,000, a record high achieved mid-September following the pair’s supersonic bull run. It anticipates YFI/USD to hold support near its ascending trendline while testing its horizontal base level as resistance. Later, the pattern expects the pair to attempt a breakout move above the resistance level. Yearn Finance Ascending Triangle pattern (in black). Source:  YFIUSD on TradingView.com In retrospect, the Ascending Triangle…

Coronavirus-Induced Poverty Will Bring More Bitcoin Crime in 2021: Kaspersky Report

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Cybersecurity specialist Kaspersky foresees a rise in crypto crime ahead, as the COVID-19 epidemic hits national economies. In a report on financial threats for 2021, based on data and patterns from this year, the company said Monday that attacks aimed at stealing bitcoin will “become more attractive as many nations plummet into poverty as a result of the pandemic.” The compounding factor of weakening local currencies amid the crisis will also drive people to cybercrime, leading to more bitcoin fraud as well as theft, the firm predicted. It said the…

New Era of DeFi: xSigma

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The soon-to-be-launched xSigma DEX will be a game-changer for the nascent defi industry as it seeks to resolve the underlying problems of non-custodial trading. Decentralized finance (defi) burst onto the scene in 2020, as investors rallied behind the enormous potential of peer-to-peer financial services. However, these investors quickly realized that defi protocols are fraught with issues ranging from a faulty user experience to impermanent loss. Market volatility, pricing error and downright scams also made it difficult to navigate this burgeoning ecosystem. Following more than two years of intensive research and…

Raoul Pal to Liquidate His Gold to Invest in Bitcoin and Ethereum

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According to reports, 98% of Raoul Pal’s liquidated net worth would be invested in Bitcoin and Ethereum in the ratio 80:20. Raoul Pal, the CEO of Global Macro Investor and Real Vision has after months of declaring his support for cryptocurrency regulation and predicting a $1 million trading price for Bitcoin in the next five years finally decided to back his words with action. Pal has decided to liquidate his Gold to acquire Bitcoin and Ethereum. The former Goldsman Sachs fund manager did not specifically reveal the reason for such…

Ethereum Briefly Surpasses Bitcoin in Number of Nodes

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There were more nodes participating in the Ethereum (ETH) blockchain than on the Bitcoin (BTC) network for a brief period at the start of the week. This news comes amid the imminent launch of ETH 2.0. Bitcoin Regains Lead over Ethereum in Number of Nodes Tweeting on Sunday (Nov. 29, 2020) Austrian blockchain outfit Bitfly compared data from network node aggregators to show that the Ethereum chain contained more nodes than its Bitcoin counterpart for the first time ever. At the time, Ethereum had 156 more nodes than Bitcoin based…

TSLA Stock Up 1% in Pre-market, China Paves Way for Tesla Model Y

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Tesla applied for the Shanghai-made Model Y SUV sales permission earlier this month and got the permission to start sales. Tesla Inc (NASDAQ: TSLA) shares were up approximately 1.25% from Friday’s close to trade around $593.11 during Monday’s pre-market. The tweak on Monday is perhaps attributed to news from the China ministry of Industry and Information Technology that gave the giant EV maker permission to start selling its Shanghai-made Tesla Model Y sports utility vehicle in the country. China and Tesla Model Y Unveiled last year, Tesla Model Y is dubbed…

Former digital head at luxury brand group LVMH takes role at Ledger

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The revolving door between traditional finance and the crypto space is well established. Now, executives from the luxury goods sector appear to be following in their steps. Ian Rogers, formerly the chief digital officer at LMVH, is taking on a new role as “chief experience officer” at Ledger, the well-known French crypto hardware and software maker. LMVH was formed in 1987 from the merger of high fashion house Louis Vuitton and Moët Hennessy, which itself formed from a merger of champagne maker Moët & Chandon and cognac producer Hennessey, back…

Crypto News – USA President |Bitcoin Bull| Indian Bank| Ethereum 2.0| Tamil | கிரிப்டோ கரன்சி | 2020

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Bitcoin Mining Difficulty Nears All-Time High in Recent Rally

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The Bitcoin mining difficulty after reaching its all-time high in October 2020 took drastic steps backward between October 17 and November 2 from 146.5EH/s to 106.6 EH/s. Bitcoin mining difficulty has just as expected neared its all-time high in response to the recent bull-run driving the price near its all-time high price. Mining difficulty is a concept that explains how time-consuming and difficult it is to successfully solve the complex mathematical puzzle that generates a mineable asset. At this point, finding the hash that perfectly fits each block becomes challenging. Just…