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Day: January 28, 2021
Altcoins soar after 10% Bitcoin price breakout flips $33K back to support
Bitcoin (BTC) price appears to have flipped the $32,000 level back to support as the wider cryptocurrency market saw renewed optimism on Jan. 28. Data from Cointelegraph Markets and TradingView shows that BTC has steadily climbed higher in price from $31,000 to its current value of $33,400, an increase of 9.5%. Daily cryptocurrency market performance. Source: Coin360 The most notable gainer of the day was Dogecoin (DOGE) which surged more than 200%. The popular meme coin became the latest beneficiary of the 3 million member Reddit community behind the incredible…
Orders the Accused to Pay Over $4 Million in Restitution – Regulation Bitcoin News
A U.S. court has sentenced Jerry Ji Guo, a resident of San Francisco, to an effective six months in prison for his role in a fraudulent initial coin offering (ICO). In addition to the prison term, the court ordered Guo to pay over $4 million in restitution. Further, Guo will also cooperate with the government in the identification and return of the stolen property. Embezzlement of Client Funds In a statement, the United States Department of Justice (DOJ) says Guo, who pleaded guilty on August 26, 2019, had presented himself…
Mark Cuban calls token valuations “inflated” shortly after NFT mint
Shortly after a limited edition non-fungible token release, entrepreneur and Dallas Mavericks owner Mark Cuban has called into question the valuations in the NFT space, as well as those in half a dozen other asset classes. Called “The RollUp 2021,” Cuban dropped the NFTs on Wednesday on Rarible, announcing the release in a Tweet: Look what I found! The RollUp 2021 collectible https://t.co/EexbU3DNFy #rarible #ethereum #nonfungible #digitalasset #nft via @rariblecom — Mark Cuban (@mcuban) January 27, 2021 Describing the NFTs — which feature a half dozen-frame animation of Cuban awkwardly…
DOGE tweet volume up 1800%, becomes first altcoin to surpass Bitcoin ever: The Tie
Dogecoin (DOGE), a meme coin created as a joke, has seen a groundswell of Twitter activity in the past 24 hours after attention was thrown on the coin by the now-infamous Reddit group responsible for pumping the share price of GameStop. Dogecoin’s Twitter volume — the number of daily tweets versus the 30-day average — skyrocketed 1,787% on Thursday, according to crypto data provider The TIE. In total, there were 89,991 tweets about DOGE over a 24-hour period. In fact, The TIE’s data suggests it’s the first time any altcoin…
Solution for Smart Key Emergency Service – Ethereum Blockchain
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io #SmartKey #Ethereum #Blockchain Our project has created a solution for emergency services in Poland. This solution is already in operation in an area in Poland with 1,500 mln inhabitants. In the near future, this technology will be made as a standard solution for all emergency services (fire brigade, emergency vehicles) across the country. This project is a great way to give smart keys something of value to society and build trust in brands and technologies. ▶ Coinbase Website: Coinbase.com ▶ CEX Website:…
Cosmos Set to Take Lead in Blockchain Interoperability With February’s Stargate Release
Right now, blockchains communicate via tacked-on solutions (state channels, sidechains, swaps, bridges and so on). With the Stargate update to Cosmos on Feb. 18, the tools for native blockchain interoperability will be live on mainnet. “This is a long-awaited release for many Cosmos-based projects out there,” Band Protocol’s Kevin Lu told CoinDesk via email. “For us this will enable seamless and simple integrations with any Cosmos-based decentralized application, relaying oracle data in a highly scalable and tamper-proof manner.” Iqlusion’s Zaki Manian, who leads much of the development for Cosmos, explained…
Bitcoin and Inflation: Everything You Need to Know
Crypto enthusiasts often talk about bitcoin as a hedge against inflation. Why? The argument is that central bank money printing will lead to inflation or the decrease in the value of money over time. Bitcoin, by contrast, has a fixed limit of 21 million coins that can ever be created. This limited supply allows bitcoin to resist inflation. The COVID-19 pandemic presented the ideal conditions to test this theory once countries across the world began injecting trillions of dollars into their economies. Many countries, including the U.S., printed money to…
Financial ties between Robinhood and funds shorting GME fall under scrutiny
The connections between trading app Robinhood, Citadel hedge fund, Melvin Capital, and GameStop are becoming clearer as the Internet burns with outrage over allegations of market manipulation. Melvin Capital was one of the biggest players short-selling GameStop stock, or GME. When a number of Redditors — and gamers — on the r/Wallstreetbets subreddit pushed back against institutions trying to financially destroy the popular brick and mortar video game store, the price of GameStop shares shot up. This effectively turned the tables on Melvin and left the firm vulnerable, with its…
Market Wrap: Bitcoin Reverses Wednesday’s Losses, Ether Climbs
Bitcoin’s price reversed Wednesday’s losses on Thursday. Traders and analysts, however, have largely kept a short-term bearish view because some are attributing gains in bitcoin and other cryptocurrencies to GameStop’s stock drama. Bitcoin (BTC) trading around $32,607.78 as of 21:00 UTC (4 p.m. ET). Gaining 3.17% over the previous 24 hours. Bitcoin’s 24-hour range: $29,921.96-$32,934.56 (CoinDesk 20). BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Jan. 26.Source: TradingView GameStop’s stock drama seems to be galvanizing not…