Monthly Archives: September 2020

Bitcoin Birch says no retail crypto-wide bull run likely for rest of 2020

He isn’t bearish. In fact, his ideas appear to lean ever so slightly bullish. Crypto prices may still be weighed down by a difficult global economic atmosphere, according to Joel Birch, co-founder of automated crypto investing platform Stacked.  “I don’t necessarily think that 2020 is going to be the year of some type of major retail bull run, largely due to the fact that the global economy still lingers over this industry, just like other financial markets,” the personality, also known as “Bitcoin Birch” on Twitter, told […]

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Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding

The Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy. In a statement released via Twitter on September 14, the country’s Prime Minister, Abiy Ahmed Ali announced the unveiling of the “new Birr notes for 10, 50 & 100 denominations, with the introduction of a new Birr 200 note.” Meanwhile, a […]

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Huawei Cloud’s blockchain service just got its first major update in two years

They’re entering the enterprise blockchain arena as part of a push towards empowering commercial applications. Huawei announced an update for it’s blockchain-based cloud service, known as Blockchain Service 2.0, or BCS 2.0, during a recent industry summit. It appears that the platform’s upcoming enhancement will serve as its first major update since 2018.  According to Fangming Hong, President of Huawei Cloud China, Feng Xu, President of Huawei cloud application platform product line, and other top brass from Huawei’s management team, the upgrade’s main goal is to scale […]

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Interview: Caitlin Long and David Kinitsky on crypto’s big win with Kraken Financial bank charter

Avanti CEO and Kraken Financial Managing Director discuss Wyoming’s progressive steps in blockchain regulation San Francisco-based crypto exchange Kraken has become the first cryptocurrency business to receive a charter to operate as a bank in the United States. When seen as part of a larger-scale shift in regulatory attitudes that may help to bring crypto into the mainstream, the repercussions could be even more significant. Kraken Financial, the firm’s new bank, got the green light from Wyoming on Sept. 16 as a special-purpose depository institution (SPDI) — […]

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‘Alt-season’ abruptly ends as Bitcoin dominance rises near quarterly close

Bitcoin price is gathering strength as its dominance rate bounced from recent lows, possibly bringing a close to the altcoin season. As the price of Bitcoin (BTC) soared above $11,000 on Sept. 16, the altcoin market suffered mightily. Some analysts believe that profits from the extended altcoin and decentralized finance (DeFi) rally may have cycled into BTC. After major bull cycles or the so-called “altseason”,the dominance index of Bitcoin tends to recover. When it does, it often leads BTC to outperform many altcoins in the global market. […]

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The Uniswap effect is leading to 208% gains on average for certain tokens

And researchers suggest it’s surprisingly easy to predict, if you know what to look for. A report from crypto data provider, Cross Angle, claims that tokens which first gain traction on Uniswap have consistently provided 208% returns on average once listed by major centralized exchanges. In the past, much had been said about the “Coinbase effect” and “Binance effect”, in which a token’s price allegedly experiences fast appreciation once listed by either of the former exchanges. However, this time, it is purportedly a combination of listings that yields results. […]

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OKEx goes all in on Uniswap’s new token amid soaring DeFi fees

They’re the first exchange to offer such a robust set of trading tools for the day-old asset. Crypto exchange OKEx added Uniswap’s new UNI token to the array of assets offered on its platform, in addition to trading products around the asset.  “Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products for this hot DeFi token, including margin, swap trading, coin-margined perpetual swap and Savings, making OKEx the first exchange […]

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Kiss’ Gene Simmons Tweets Cryptic Message About His Bitcoin Plans

Rock band Kiss’ lead singer Gene Simmons has tweeted a cryptic message about bitcoin in response to a discussion on making cryptocurrency accessible to the masses. Simmons previously said he was interested in bitcoin, noting that its price goes up every time people think it’s dead. Gene Simmons’ Bitcoin Tweet Gene Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the frontman, bassist and co-lead singer of Kiss, the rock band he co-founded with lead singer and guitarist Paul Stanley. According to IMDB, […]

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It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K

3 key indicators signalled that Bitcoin’s rally to the $11K level was a dud. Traders are usually skeptical as Bitcoin (BTC) approaches key resistances, and there was no exception as the price added 7.7% to attack the $11K level.   Not every rally will shift technical indicators to overbought levels, but there is usually some gain in volume and futures contracts sentiment that may transition from neutral to bullish. Derivatives markets are especially sensitive to trend changes due to leverage. Yesterday, as Bitcoin price closed in on $11K, […]

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INX exchange taps Israeli crypto startup GK8 for crypto custody

The SEC-approved IPO holder prefers to store crypto 100% offline. INX, a cryptocurrency firm holding the first-ever token initial public offering, or IPO, approved by the Securities and Exchange Commission, or SEC, has chosen a digital asset custody provider. According to a Sept. 16 announcement, INX has enlisted Israeli crypto startup GK8 for digital asset custody on its upcoming crypto exchange. INX tweeted that the platform will use GK8’s end-to-end platform for managing and safeguarding digital assets. The platform includes GK8’s patented “air-gapped vault that can create, sign, […]

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