Bitcoin Showing Signs of Recovery But This Trend Line Could Be Game Changer

Bitcoin is showing a few recovery signs above the $6,760 support against the US Dollar. However, BTC price is still trading below a key bearish trend line and $7,000. Bitcoin is currently correcting higher and trading above $6,800 against the US Dollar. The bulls are showing a lot of resilience above $6,600, but the price is still facing many hurdles. This week’s key bearish trend line is active with resistance near $7,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must gain strength above…

Bitfinex’s BTC Holdings Decrease by One-Third in a Month

Bitfinex’s Bitcoin (BTC) holdings have decreased by 66,000 in the past four weeks. On March 17, the exchange held 200,140 Bitcoin. By April 13 this amount had dwindled by 33%, to just 134,091 Bitcoin. The massive decrease mirrors that experienced by BitMEX, which saw a 38% percent decline in its Bitcoin holdings after the mid-March “flash crash”. Source: TokenAnalyst Bitfinex BTC Balances & Net Flow. There has been an overall trend recently of users moving their digital assets off exchanges, but most saw much more minor decreases. One exchange, Poloniex even…

Surge in Crypto Emergency App Downloads Due to COVID-19

Crypto-based emergency app Guardian Circle has seen a huge surge in monthly downloads due to the coronavirus crisis. According to figures supplied by the project to Cointelegraph, more than 5150 new users downloaded the app in March. That represents monthly growth of 2582% for the three year old app, which had struggled to attract attention in peacetime. In January, a little over 300 new users signed up. But while the current crisis has seen the app’s popularity increase, it’s also threatening the project’s future. What is Guardian Circle? The official…

Bitcoin at Risk as IMF Warns of Worst Downturn in 90 years

The International Monetary Fund (IMF) has published a stark prediction that the unprecedented global economic slowdown triggered by ‘the great lockdown’ will get much worse before it gets better. With Bitcoin (BTC) experiencing a record correlation with the traditional markets, the cryptocurrency needs to break away from the S&P 500 if it has any chance of producing the highly anticipated post-halving bull run. IMF drops global growth estimate by 6.3% On April 14, the IMF published its quarterly World Economic Outlook report, describing the COVID-19 induced lockdown as the worst…

Berlin Real Estate Worth $12M Tokenized for Everyday Investors

Germany’s Black Manta Capital Partners has launched a security token offering (STO) for Berlin real estate worth more than $12 million. The project is a collaboration with the German real estate firm Tigris Immobilien and includes around 2000 square metres of real estate in total, mostly comprising individual apartments from 40 to 60 square meters in size. Construction is expected to be complete by 2022 and units will be sold to investors and owner-occupiers. Token holders will share 20% of the sale profits through securitized participation rights. The company said…

Andreessen Horowitz Looks to Double Down on Crypto With New $450M Fund

Private venture capital firm Andreessen Horowitz may have plans for another crypto asset fund.  Established by Marc Andreessen and Ben Horowitz over 10 years ago, the firm looks to start its second crypto investment fund, hoping to garner $450 million in capital for the endeavor, Financial Times said in an April 14 article, citing sources familiar with the situation. The firm is known in crypto Also going by the name a16z, Andreessen Horowitz provides tech companies and visionaries with funding. The outfit has three funds used for investment in startups and the like,…

Algorand Announces $43 Mln Grants Program to Foster ‘Borderless Economy’

The Algorand Foundation announced a 250 million ALGO (roughly $43 million) grants program to foster development on the Algorand blockchain on April 14. Cointelegraph spoke to Fangfang Chen, the Algorand Foundation’s head of operations, to find out more about the program. Algorand launches $43 million grants program The funds will be allocated to “qualified investors across four major categories: innovative research, development tools for the Algorand blockchain, use cases for decentralized applications (Dapps) […], and education and community initiatives.” Chen emphasizes that the grants are intended to bring about the…

This Altcoin Has Thrived Amid Global Lockdown, Seeing 102% Growth in 28 Days

Little-known altcoin Komodo (KMD) had a strong month amid the global lockdown. In the past 28 days the KMD coin price increased 102% against the dollar, while many larger cap cryptocurrencies struggled for momentum.  From a coin price of $0.239453 on March 16, the value of Komodo climbed to a peak of $0.485010 on April 14 — a 102% increase.  KMD/USD 1 Month Chart: Coin360 That’s in stark contrast to the previous month’s performance, which saw the coin price drop by over 75% from February’s high of $0.920051. Komodo’s recent…

Nefarious Parties Peddled Half a Million Zoom Profiles on Darknet

Recent data shows parties selling a massive number of Zoom accounts in the far reaches of the internet.  In darknet and hacking forums, perpetrators are pawning off 500,000 user accounts from the popular internet video conferencing site, BleepingComputer said in an April 13 report. Hackers utilized former leaked information The infiltrators used multiple methods to gain access to the plethora of Zoom accounts. “These credentials are gathered through credential stuffing attacks where threat actors attempt to login to Zoom using accounts leaked in older data breaches,” the report said of…

World Bank Digs Deeper Into DLT and FinTech for Financial Inclusion

Financial institutions all over the world are increasingly experimenting with emerging technologies like blockchain to streamline payment systems and achieve financial inclusion. In a new study, the World Bank has once again emphasized blockchain’s potential for financial inclusion. Issued by the Bank for International Settlements on April 14,the new report from the World Bank Group on “Payment aspects of financial inclusion in the fintech era” outlines a wide number of crypto and blockchain-related concepts like stablecoins and central bank digital currencies (CBDC). In the 70-page report, the bank provided a…