Most Transactions on XRP, EOS and Tezos Don’t Transfer Any Value

Research has found the vast majority of transactions on EOS, Tezos and XRP do not transfer any value. According to a research paper released on pre-print site arXiv, only 2% of transactions on the XRP ledger and 18% of transactions on Tezos (XTZ) lead to value transfers. They found that during the period of October 1, 2019 to December 31, 2019, 95% of transactions on EOS were related to the airdrop of a currently worthless token. Daniel Perez from Imperial College London, and Jiahua Xu and Benjamin Livshits of UCL Blockchain…

Bitcoin Breaking 100 SMA and $9,100 Could Spark Fresh Bull Run

Bitcoin is currently consolidating above the $8,500 and $8,250 support levels against the US Dollar. BTC price seems to be setting up for a strong bull run above $9,000 and $9,100. Bitcoin is trading in a crucial range above the $8,500 and $8,200 support levels. The bulls need to clear the $9,000 and $9,100 hurdles to gain strength. There was a break above a connecting bearish trend line with resistance near $8,920 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must settle above $9,100…

Cambodia’s New DLT Payments Network Aims to Undermine US Dollar

Cambodia’s central bank will launch a distributed ledger technology (DLT) network to enable greater interoperability in the country’s payments sector and to take on the almighty greenback. Consumers will be able to make near instant payments via the platform, using a mobile app and QR codes. During Consensus: Distributed on May 11, the assistant governor and director-general of the National Bank of Cambodia, Serey Chea, revealed the primary goal of the DLT network was to undermine the popularity of the U.S. dollar. “Cambodia is probably the most dollarized economy in…

Chainlink Cryptocurrency on Verge of Rocketing Back to 2020’s Highs

Chainlink has been leading the headlines thus far this year after scoring a series of partnerships that have helped it solidify the utility of its native token, LINK. The constant announcements of new startups using its technology have played an important role in the price of this altcoin. The decentralized oracle token rose by nearly 200% between the first three months of 2020 to hit a new all-time high of $5. But as COVID-19 began causing havoc in the global financial markets, LINK took a massive nosedive all the way…

Bitcoin Miner Riot Blockchain Racks Up $221 Million Deficit

U.S. mining firm Riot Blockchain has published its financial report for Q1 2020 — painting a picture of a company heavily reliant on equity and debt financing to fund its operations. The firm reported recurring losses and negative cash flows from its operations, with Riot anticipating continued losses over the near term. But the mining outfit is pinning its hopes on the arrival of 2000 next generation mining machines it believes will enable it to double its operational hash rate.  Riot improves year-over-year performance As of March 31, 2020, Riot…

Most Crypto Users Think QuadrigaCX CEO Faked Own Death

Eighteen months after Gerald Cotten, founder and Chief Executive Officer (CEO) of QuadrigaCX, was reported to have died while doing volunteer work at an orphanage in India, and most crypto users apparently believe he’s still alive. The Canadian exchange is just one of many that are suspected of fraudulent exit scams, with publicity around the cases believed to be turning some users off of crypto. According to an online poll conducted during a Virtual Consensus 2020 event ⁠— “QuadrigaCX – Yell Into the Void and Get Some Questions Answered” ⁠—…

Industry CEO Still Convinced Bitcoin Rockets to $50,000 In 2020: Here’s Why

Bitcoin may have performed extremely well over the past two months, rallying over 100% from the March lows, but analysts say the asset’s rally is far from over. Speaking to Bloomberg on Monday, a leading industry chief executive argued that the price of BTC is still on a trajectory to rally by over 400% by the end of 2020, proposing a target of $50,000. Bitcoin Still on Track to Hit $50,000 By Year-End In a Monday interview on “Bloomberg Markets: European Open,” the chief executive of crypto startup Nexo, Antoni…

Craig Wright Threatened to Crash The Bitcoin Price … So What Happened?

There are many halving predictions yet to come true — among them Satoshi claimant Dr Craig Wright’s ‘long term advance notice’ from 2018 that he intended to crash the Bitcoin price. The warning emerged from a Slack group that Wright uses to communicate with his acolytes, and his dastardly scheme makes fascinating reading. Dismissed at the time Wright’s sell-off threat came just prior to the much-hyped fork of the Bitcoin Cash blockchain to create Bitcoin SV. Although there were some true believers who clearly relished the prospect of these events…

Bearish for Bitcoin: S&P 500 Flashes Fundamental And Technical Warning Signs

Since the lows that were experienced in March, both Bitcoin and the S&P 500 have been on a steep recovery. The leading cryptocurrency peaked at over 170% from the price of the March lows, while the S&P 500 gained from ~2,150 points to a recent high of 2,950 in dramatic fashion. Assets around the world have been rallying on optimism regarding the reopening of the global economy as the spread of COVID-19 slows. But there are technical and fundamental signs that the rally may be unfounded. For instance, while the…

Key Bitcoin Price Metric Shows Drop in Investor Fear After BTC Halving

Recent data from Skew shows that Bitcoin’s (BTC) implied volatility plummeted after yesterday’s halving occurred. Generally, volatility is at the heart of any professional trader as it measures daily average price oscillations and gives insight into market conditions.  As previously reported by Cointelegraph, Bitcoin’s halving event tends to increase volatility due to its significant uncertainties. Traders anticipated that the price would either rally or dump during and after the event, thus the short term spike. At the time of writing the metric has gone back to previous levels. Uncertainties can…