Day: February 17, 2021

Valid Points: How CME Ether Futures Work and Why They Matter

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Trading in ether futures went live on the Chicago Mercantile Exchange (CME) late last Sunday with the February contract registering an opening price of $1,669.75.  In less than two weeks, the open price of the February contract has jumped 5% to $1747.75 as ether spot prices have continued to climb upwards of $1,700. In terms of weekly trading volume, CME ether futures contracts surpassed $160 million in its first full week of trading.  CME ETH Futures Daily VolumeSource: Skew According to Tim McCourt, Global Head of Equity Index and Alternative…

China’s DCEP Project Must Outpace Payment Giants Before Aiming at US Dollar

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The intermediaries and wallets that will have direct involvement in issuing the digital yuan will be highly regulated, giving an extra level of confidence to users. A researcher from the Peterson Institute for International Economics (PIIE), Martin Chorzempa believes the rollout of China’s Digital Currency Electronic Payment (DCEP) project, digital yuan,  must first outpace the country’s indigenous payment giants before looking to compete with the United States Dollar. Speaking on CNBC’s “Street Signs Asia” on Wednesday, Chorzempa noted that the biggest hurdle for the DCEP, also known as the Digital…

Bitcoin Explodes Towards $52,000 as Gold Forms Bearish Death Cross

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Bitcoin achieved yet another record high in a price rally that has already seen it surging by more than 1,100 percent from its March lows last year. Incidentally, gold, which many consider Bitcoin’s top safe-haven rival, painted a death cross pattern on its daily chart. A recent run-up in the long-dated Treasury yields, prompted by a sell-off in the US bond markets following investors’ gravitation towards riskier assets, pressured the spot gold prices lower. The precious metal dropped by almost 9 percent from its year-to-date high of $1,959 an ounce.…

Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC

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Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000. Data noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys just 0.0352 BTC. XAU/BTC plumbs new depths Since hitting new all-time highs on Wednesday, the price of gold in Bitcoin terms became even cheaper, with one ounce costing $1,794 or 0.0349 BTC at the time of writing. “Bitcoin is eating gold in one chart!” Zschaepitz declared in comments. Gold priced in…

Buy Bitcoin Before It Hits $50,000 on January 31st, There’s Just Not Enough BTC! [Big Supply Crisis]

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OWNR Wallet Adds Three Major Upgrades to Deliver More Value to Users

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OWNR Wallet has integrated its own inbuilt crypto-to-crypto exchange, shifting the platform’s crypto exchange service reliance on Changenow.io. Estonian-based cryptocurrency wallet service provider, OWNR Wallet has added three significant upgrades to its platform, all targeted at providing better values for their users. Per a press release shared with Coinspeaker, the upgrades represent a major milestone for the growing startup. To begin with, OWNR Wallet has implemented a feature that lets its users order for a prepaid card issued by payments services giant Visa Inc (NYSE: V) through its mobile and…

Unstoppable Domains Takes .Crypto Names Mainstream with Cloudflare Integration

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Despite the limitations of mainstream acceptability of Unstoppable Domains over the years, more than 500,000 sites have been hosted on the network thus far. Unstoppable Domains, a San Francisco-based company specializing in building domains on blockchains, has announced an integration with American web infrastructure firm Cloudflare Inc (NYSE: NET). The integration seeks to take the latter firm’s Ethereum-based .crypto domain names mainstream through the use of Cloudflare’s Distributed Web Resolver. This provision will allow decentralized blockchain domains to be accessed by anyone, from any browser, anywhere in the world. Blockchain…

What Is a Flash Loan?

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A flash loan is relatively new type of uncollateralized lending that has become popular across a number of decentralized finance (DeFi) protocols based on the Ethereum network. These types of loans have made headlines recently because they have been used to exploit a number of vulnerable DeFi protocols, leading to millions of dollars in losses. Yet, advocates argue flash loans introduce an innovative and useful tool to the world of finance for arbitrage and quick trades that weren’t possible before blockchains. Most of us are familiar with normal loans. A…

RIO Stock Up 2%, Rio Tinto Announces Special Dividend per Share, Annual Profit Rises

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Iron-ore accounted for 90% of Rio Tinto’s earnings, underlying its pedigree as it operates one of the world’s biggest iron-ore export hubs. Rio Tinto Plc (NYSE: RIO) has announced a special dividend for its investors after the company sees a 22% rise in annual profit. Rio Tinto which is the world’s biggest producer of iron and ore and the world’s second-largest mining company by value announced a net profit of $9.77 billion for 2020 on February 17, up from the $9.1 billion it recorded in 2019. The mining company in…