Day: December 2, 2020

Civic (CVC) Up 104%

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Zoom (ZM) Stock Tanks 15% on Fears of Overvaluation Despite Strong Quarterly Results

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Zoom Communications has registered a phenomenal growth rate for the fiscal third-quarter reporting a net income of $198 and $777 revenue. Analysts have mixed views over the 12-month target for ZM stock. On Tuesday, shares of Zoom Video Communications Inc (NASDAQ: ZM) tanked 15% despite the company reporting its most impressive quarterly performance. Investors dumped Zoom (ZM) stock on fears of overvaluation. ZM stock had a massive run so far in 2020 as Zoom became popular as the ‘work-from-home’ stock during the coronavirus pandemic lockdown. As businesses had to close…

Russian central bank opposes ruble-pegged stablecoins

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Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble. Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the country’s fiat currency.  Russian crypto developers will only be able to use the Bank of Russia’s digital ruble, Shvetsov said. According to a Nov. 30 report by local news agency Prime, the he said that this approach follows the “philosophy of the means…

Russian Alfa-Bank Ventures Blockchain to Provide Services to Freelancers

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The new Alfa-Bank new service will be divided into two applications: the Alfa.Corporate and My Income app. One of the largest private commercial banks in Russia Alfa-Bank JSC has announced that it has partnered with the Waves platform to venture into blockchain technology for its services, particularly for freelancers. According to news outlet Cointelegraph, the bank will make use of blockchain-based applications to automate payment systems for its customers. Alfa-Bank and Blockchain Notably, the new service will cover the entire process of registration and remuneration, including payments settlement, income registration…

Historian Niall Ferguson Says Bitcoin Is Winning the Covid-19 Monetary Revolution

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Historian and senior fellow with the Hoover Institution at Stanford University, Niall Ferguson says bitcoin is winning the Covid-19 monetary revolution. Hailing the virtual currency as a great place for the rich to store their wealth, Ferguson also notes that the bitcoin’s resilience has forced critics as well as institutional investors to alter their views about the leading crypto. Cash Use Declining Ferguson names bitcoin basher Nouriel Roubini alongside one financial journalist as some of the critics that are now having second thoughts about bitcoin. In an opinion piece, Ferguson…

Dow Jones Registers Best Monthly Close on Optimism of COVID-19 Vaccine News

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Dow Jones, S&P 500, and Nasdaq Composite all surged between 10-12% during the month of November as markets remained upbeat on positive news of vaccine rollout. Analysts expect the market to continue its run ahead in December and end 2020 on a strong note. On Monday, November 30, the Dow Jones Industrial Average registered its best monthly performance in three decades since 1987. The Dow index soared on the heels of major optimism surrounding the arrival of the COVID-19 vaccine. Giants like Moderna Inc (NASDAQ: MRNA), Pfizer Inc (NYSE: PFE),…

[VECHAIN NEWS] VECHAIN COLD CHAIN COULD BE A MAJOR PLAYER IN VACCINE DISTRIBUTION

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NYDIG raises $150 million for two Bitcoin investment funds

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New York Digital Investment Group has raised $150 million through two separate cryptocurrency investment funds, according to documents filed with the United States Securities and Exchange Commission on Nov. 24 and Dec. 1. The NYDIG Digital Assets Fund I raised $50 million, with the NYDIG Digital Assets Fund II raising a further $100 million. Reports suggest that the money raised by Fund I, which invests purely in Bitcoin (BTC), came from just two unnamed investors. Meanwhile, the larger Fund II is reputed to have received its entire $100 million investment…

Survey Says 65% of PayPal Users Primed for Bitcoin Adoption in Retail Shopping

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US PayPal users are gearing up to use Bitcoin as a funding source for online shopping which is the exact purpose for which the payments giants adopted cryptos in the first place. PayPal’s 2020 cryptocurrency foray is seen as one of the triggers for the current bullish streak that has seen the total market capitalization top $560 billion. 20% of PayPal Users Already Traded Bitcoin According to the data reported by Mizuho Securities from its survey, about 65% of active PayPal users are ready to utilize Bitcoin for online payments…

Bitcoin hitting $200K by December 2021 is now ‘conservative’ — Willy Woo

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Bitcoin (BTC) hitting $300,000 in just one year’s time is “not out of the question,” popular statistician Willy Woo says. In a series of tweets on Dec. 1, Woo stated that he has “never been so bullish” on Bitcoin’s prospects for 2021. Woo eyes “amplified bullish feedback loop” Discussing potential price trajectory, he confirmed that he was looking at six figures by December next year. “My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question,” one post read. “The current market…