Day: December 1, 2020

Bitcoin suddenly crashes below $19K after all-time high sparks wild volatility

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Bitcoin (BTC) continued an intense day of volatility on Dec. 1, hitting lows of $18,400 just over an hour after challenging $20,000 and breaking a new all-time high. Cryptocurrency market overview from Coin360 Bitcoin sheds $1,600 in under 2 hours Data from Cointelegraph Markets and TradingView tracked BTC/USD as it delivered some of its most unpredictable moves in history. At press time, the pair was moving in a range roughly bordered by $18,500 and $19,000, with conditions changing by the minute. BTC/USD 1-min chart (Bitstamp). Source: TradingView Just an hour…

Global Stock Markets Outperformed US in November 2020

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The European stocks recovered significantly on the positive news about the COVID-19 vaccine as drugmakers gear up for mass production and distribution and await FDA approval. The Asia markets are looking positive as China’s growth picks up. The last month of November 2020 ended with global stock markets closing on bumper gains and outperforming the US indices by a good margin. All the positive news of the vaccine has brought fresh hope to the world of the economic activity coming back to the pre-COVID era faster than expected. Moreover, the…

Bitcoin Points to Fresh Record Highs after Powell Testimony; Here’s Why

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Bitcoin dropped on Tuesday, with its bull run foreshadowed briefly by short-term profit seekers. The benchmark cryptocurrency plunged almost 1.5 percent to $19,385 ahead of the New York opening bell, suggesting that traders secured their gains at local tops. The modest sell-off sentiment surfaced after Bitcoin established a new record high of $19,873. It also occurred as futures tied to the BTC/USD exchange rate surged above $20,000 but fell to as low as $19,000 just ten minutes later. Worth noting that a $1,000 swing is just 5% now. Adjust accordingly.…

Zoom (ZM) Stock Down 6% Despite Reporting Better Than Expected Fiscal Q3 Earnings

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During the Q3 quarter that ended on October 31, Zoom recorded a revenue growth of 367% on an annualized basis in the quarter.  Shares of the video-conferencing giant Zoom Video Communications Inc (NASDAQ: ZM) fell more than 6% on Tuesday’s pre-market trading session even after the company reported better-than-expected earnings for Q3. Zoom posted earnings per share of 99 cents on revenue of $777.2 million. Analysts expected a profit of 76 cents per share on revenue of $694 million, according to Refinitiv. Apparently, with zoom investors anticipating the relevant government…

Ethereum 2.0 Beacon Chain Goes Live as ‘World Computer’ Begins Long-Awaited Overhaul

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The first stage of the next-generation proof-of-stake (PoS) Ethereum 2.0 is now live as of 12:00 UTC Tuesday, according to Beaconcha.in. A generalized blockchain for decentralizing computer-based applications – from iPhone games to government bonds – Eth 2.0 has been under construction since the genesis of the current proof-of-work (PoW) network in 2015. Tuesday’s launch concludes the opening act, or “Phase 0,” of Ethereum’s consensus mechanism transition, which will see the network – whose native cryptocurrency, ether, is worth $70 billion by market cap – fundamentally change how it settles…

Russia’s Alfa-Bank offers blockchain platform for freelancers

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Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. According to a Dec. 1 announcement, Alfa-Bank will use blockchain-based applications to automate services for freelancers and self-employed workers. Based on Waves Enterprise’s blockchain platform, Alfa-Bank’s new service covers the entire process of registration and remuneration for self-employed individuals, including payments settlement, income registration and tax payments. Denis Dodon, director of Alfa-Bank’s research and development center, told Cointelegraph that the new blockchain-based service enables freelancers to get direct remuneration via any…

Genesis block of beacon chain winks into existence

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After literally years in the making, the genesis block of the Ethereum 2.0 beacon chain has finally seen the light of day. The oft-delayed scalability and security upgrade to the second-largest cryptocurrency by market cap confidently took its first breath as planned, at just after 12pm GMT on Dec 1. The launch suffered no hiccups and immediately reached the required stake participation rate to finalize, or set in stone, the blockchain. Vitalik Buterin joked about how the first block did not include any meaningful messages “about some giant leaps for…

Why Do the Children in Assassin’s Creed Valhalla Have American Accents?

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Ubisoft open-world Viking action-RPG, Assassin’s Creed Valhalla, launched on Nov. 10. The game takes place predominantly in 9th-century England. Most of the games children NPCs sport American accents. After humming and hawing about whether I had it in me to weather another bloated 100-hour Ubisoft open-world checklist, I threw caution to the wind and dove into Assassin’s Creed Valhalla over the weekend. Ubisoft has done well to create a compelling virtual incarnation of pastoral England and competently mapped out a playground for us to live out that gruff Viking fantasy.…

Yearn’s merger with SushiSwap will be the most comprehensive to date

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The flurry of Yearn.finance (YFI) “mergers” continues as the project announces the tightest DeFi integration yet, this time with SushiSwap (SUSHI), the decentralized exchange that began its life as a Uniswap fork. Announced by Yearn founder Andre Cronje on Tuesday, the collaboration involves a variety of synergies between the two ecosystems and other projects launched by Cronje. Like with previous integrations, the two teams will merge development resources and integrate their liquidity pools to increase the total value locked. Yearn will help in creating an xSushi vault to farm SUSHI,…