Day: December 30, 2020

Compound (COMP) Outruns Top DeFi Tokens as TVL Closes Above $2B

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Compound Finance’s native token COMP was among the biggest gainers in the decentralized finance space on Wednesday. The fourth-largest DeFi token by market cap surged by more than 10 percent, hitting an intraday high of $154.08 as traders assessed a flurry of upside fundamentals around it. A pseudonymous analyst noted that the Compound protocol lured traders with competitive annual percentage yields on its staking platform. That allowed its liquidity pool to attract about $820 million worth of tokens in just five hours. “Wonder if longing the bluechip with the highest…

Snap Stock Up 6%, Goldman Sachs Gives Snap Buy Rating with Price Target of $70

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Being a major social media outlet, Snap has benefited from the coronavirus outbreak as more people opt to socialize through online platforms. Shares of American camera and social media company Snap Inc (NYSE: SNAP) closed yesterday trading at $51.23, up 6.15%. Meanwhile, they were down approximately 0.55% during the after-hours trading session. Apparently, Tuesday’s Snap-stock surge has been largely attributed to positive notes from two different analysts, Wedbush Securities analyst Michael Pachter and Goldman Sachs. In a note to investors, Goldman Sachs reiterated its prior Buy call on Snap stock.…

Canadian Publicly-Listed Company Buys $2 Million Worth of Bitcoin with Treasury Funds

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Canadian augmented reality (AR) firm joins in the bitcoin frenzy. Canadian AR Firm Buys Bitcoin In a press release issued on December 29, Canadian AR company NexTech AR announced its plans to make an investment worth $2 million in bitcoin (BTC) with plans to “add more in 2021.” Per the source, the company will use its treasury funds to purchase bitcoin worth $2 million for “capital diversification.” For the uninitiated, NexTech AR is a Vancouver-based AR firm that, as of September 30, had $12.79 million cash on hand. The investment…

eToro Reportedly Preparing for $5 Billion IPO in Q2 2021

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As per reports, eToro will be working with Goldman Sachs for going public. The reported plan of IPO comes after the platform registered phenomenal growth in 2020. Israel-based crypto trading platform and multi-asset trading firm eToro is reportedly mulling for a $5 IPO in Q2 2021. Local news publication Calcalist was the first to report the news on Tuesday, December 29. As per the report, eToro will be working with banking giant Goldman Sachs who shall be possibly leading the offering. Moreover, eToro is also considering the possibility of a…

Indian crypto bank opens physical location, eyes 100 branches by 2022

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Unicas, a joint venture between Indian online crypto banking platform Cashaa and United Multistate Credit Co-op Society has launched a physical crypto bank branch in Jaipur, India. Back in October, Multistate announced plans to offer both online and physical crypto banking services across its 34 locations in northern India. Users will be able to access both fiat and crypto-asset services at the bank. Unicas will also provide instant digital loans with cryptocurrencies as collateral. According to a Cashaa blog post on Dec. 28, the physical crypto bank branch in Jaipur…

How to Make Money with ETHEREUM I Crypto Investing

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video, you will learn how to make money with ethereum. You will also learn how to make money with ethereum contracts. We will use wise token and teach you how to earn money with ethereum. Make money ethereum mining today with wise token. WISE Token The Smartest Way to Earn Crypto The World’s First Rebate Algorithm Trading on Complete Autopilot CRYPTO Debit Card: Rewards on ALL purchases* Disclaimer: Results Are Intended, Never Guaranteed. Trading Involves Risks & You could lose…

Crypto.com Joins Other Exchanges to Delist XRP amid Ripple’s SEC Lawsuit

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Crypto.com noted that the delisting and trading suspension would not affect the withdrawal of XRP. Crypto exchange Crypto.com is now the latest exchange to delist Ripple’s XRP from its platform. Several exchanges have been announcing the token delisting as Ripple faces a lawsuit in the US. On the 22nd of December, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and two of its top executives over the selling of a $1.3 billion unregistered securities offering. The executives involved in the suit are Ripple’s co-founder Christian Larsen and…

Japan’s crypto market matured in 2020, but 2021 may see huge growth

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In 2020, the Japanese crypto industry seems to have entered its maturation phase. With new crypto laws established in May, large exchanges have solidified their leading positions, while crypto startups and unregulated businesses have exited the market. However, it seems that a winner has not yet been declared. There are already more than 25 registered exchanges in the small nation with a population of over 100 million, but global crypto giants are just starting to enter the market. Some believe a significant industry reorganization is coming through buyouts of licensed…

Ripple Says It Will File Its Response to SEC’s ‘Unproven Allegations’ Against It

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While the Ripple lawsuit was the last blow struck against the crypto industry by Jay Clayton, Ripple noted that it is open to working with the agency’s new leadership whenever they are appointed. Following the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Ripple Labs Inc over allegations that it raised over $1.3 billion through the sale and distribution of the XRP cryptocurrency without properly registering it as a Security. According to a statement filed by Ripple on Tuesday, it noted that “the public and press…

Bittrex joins Coinbase in delisting Ripple’s XRP following SEC lawsuit

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Cryptocurrency exchange Bittrex announced on Dec. 29 that it will be removing all XRP markets starting from Jan. 15, 2021. Trading pairs affected are BTC/XRP, ETH/XRP, USDT/XRP and USD/XRP. The announcement comes just days after fellow exchange Coinbase said that it would suspend trading in XRP from Jan. 19. XRP’s fortunes have taken a significant downturn since the United States Securities and Exchange Commission unveiled a lawsuit against XRP issuer Ripple last week. The lawsuit alleges that Ripple, along with CEO Brad Garlinghouse and co-founder Chris Larsen, have raised more…