South Africa Looks to Blockchain to Reduce Unemployment

The South African Presidential Commision on the Fourth Industrial Revolution believes that blockchain technology and Artificial Intelligence could help reduce unemployment in the country. Commissioner Mpho Dagada told the Blockchain Africa Conference in Johannesburg this week that blockchain could bring important economic benefits. “We face two significant challenges in the country: reducing unemployment and increasing our Gross Domestic Product (GDP),” he said. “[The] Fourth Industrial Revolution policy creation can create economic growth in the country.”  Dagada said that South Africa’s mining sector in particular could benefit from forward thinking solutions…

Ethereum Bears Are Not Done Yet, Here’s Why ETH Could Test $68

Ethereum is down more than 50% in a day against the US Dollar. ETH price broke many crucial supports and it is now approaching the $78 and $68 support levels. Ethereum collapsed below $150 and $100 in a harsh market crash against the US Dollar. The price is forming a huge bearish candle on the daily and weekly chart. There was a break below a major bullish trend line with support at $183 on the weekly chart of ETH/USD (data feed via Kraken). Bitcoin price is down more than 45%…

MEW App Allows You to Buy Crypto Instantly — But There’s a Catch

MyEtherWallet has released a mobile app called MEWconnect that allows users to buy crypto in under 15 seconds — but there’s a catch. Users need to have Apple Pay and face fees of 3.99% in the United States, and 5.25% in the rest of the world. Google Pay is not yet supported. Still, this is the first mobile app and fiat onramp for MEW — one of the widely used cryptocurrency wallets in the world. The fiat on-ramp is provided through a partnership with blockchain money transfer company Wyre. MEW…

Crypto Market Meltdown Continues as Bitcoin Price Drops Below $5,000

After a tumultuous day of trading which saw Bitcoin (BTC) price drop 28.35% from $7,650 to $5,500, the carnage restarted at 11:00 (UTC) when Bitcoin abruptly dropped another 24%. This brought the price to $4,679, a new 2020 low and a price not seen since April, 2019.  The price action of the day means Bitcoin’s 2020 gains are completely wiped out and the asset is currently 58.07% down from its 2020 high at $10,500, a price achieved less than one month ago.  Data from Coin360 also shows Bitcoin’s market capitalization…

Analyst Who Predicted Bitcoin’s $3,000 Bottom & More Thinks This Is Next

Analysts in the Bitcoin market are dime a dozen, but good analysts are hard to come by. One of these “good” analysts is PenarthUdi — a pseudonymous TradingView user who few know nothing about, other than the fact that his calls have been amongst some of the most accurate in the industry. In December 2018, he made the linked infamous call on TradingView, on a chart depicting that he expected for Bitcoin to bottom around $3,000 by the end of 2018, then rally to a price between $10,000 and $20,000…

US State Reps Submit Bill Spurring Blockchain Innovation in Rhode Island

Two state representatives in Rhode Island introduced a new bill promoting blockchain and technology adoption in the state.  Rhode Island representatives David Place and Blake Filippi introduced a new bill on March 11 known as the “Rhode Island Economic Growth Blockchain Act.” The motion aims to provide green pastures for blockchain innovation growth, ensuring Rhode Island’s ability to keep up with the times.  The bill’s new regulation  The new proposal aims to give blockchain regulatory parameters within Rhode Island. The bill reads: “The state of Rhode Island understands that to…

DeFi Giant MakerDAO Avoiding Shutdown in the Face of Tanking ETH — For Now

As Ether’s price sees record losses, MakerDAO, the biggest player in decentralized finance (DeFi) on the Ethereum network, is looking at responses including a shutdown — though that possibility remains unlikely at this point. Markets clobber DeFi Per a March 12 call in response to “Black Thursday” losses, developers and MakerDAO Foundation members weighed the damage that the drop in Ether’s price had done to MakerDAO’s lending protocol.  MakerDAO lends DAI for collateral in the form of Ether. As the market for ETH drops, MakerDAO’s protocol automatically sells. The recent…

Binance Doubles ETH Withdraw Fees, Firing Up Crypto Traders

Binance announced in a tweet on March 12 that it is doubling fees for ETH withdrawals. The company cited network congestion as the reason for the decision. The tweet specified:  “To better facilitate ERC20 and ETH withdrawals during this period of high congestion on the $ETH network, we are making the following temporary adjustments: ETH withdrawal 0.003 ETH is now 0.006 ETH ERC20 withdrawal 0.006 ETH is now  0.01 ETH Withdrawals will re-open shortly.” Binance Crypto Traders are not happy with the news This decision angered some members of the…

In Echo of 2008, Fed Pledges $1.5 Trillion Injection to Aid Reeling Markets

U.S. central bankers pledged Thursday to inject some $1.5 trillion into the financial system in an effort to calm panicky markets after the spreading coronavirus triggered steep price declines on everything from stocks to bitcoin. The move by the Federal Reserve Bank of New York comes as investors in traditional Wall Street markets have rushed to snap up U.S. Treasury bonds, historically viewed as a “safe haven” asset in times of turmoil. The flight to safety has pushed down the 10-year note’s yield, which moves in the opposite direction from…

Amid Market Downturn, Number of People Owning 1 BTC Hits New Record

Amid the ongoing crypto market decline, the number of crypto wallets containing one Bitcoin (BTC) or more continues to rise. According to major blockchain analytics firm, Glassnode, the number of Bitcoin addresses holding one or more bitcoins has been steadily growing and reached a new all-time high (ATH) On March 11. On that day, the amount of hodlers owning one Bitcoin or more reached an ATH of 795,630, crossing a previous ATH of 795,300 observed on March 10, Glassnode tweeted. Since March 2019, the number of Bitcoin wallets holding one…