Day: May 13, 2020

German Neobank Offers Bitcoin Accounts With 4.3% Interest

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All 80,000 users of German neobank Bitwala can now purchase, hold and earn interest on Bitcoin (BTC) in their bank accounts thanks to a new partnership with cryptocurrency lending platform Celsius Network.  According to defiprime.com, Bitwala is the first classic fiat bank to offer interest for holding Bitcoin in their account, with three other DeFi DApps offering similar products. While the DeFi products have higher rates, up to 8.6% per annum, Bitwala is more regulated and offers fiat and cryptocurrency services in 32 European countries under license from leading German…

Bitcoin Smashes Heavy Resistance: Here’s What Could Propel It To $10,000

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Bitcoin broke a major resistance zone near $9,000 and $9,100 against the US Dollar. BTC price is gaining momentum and it could soon climb above $9,500 and test $10,000. Bitcoin started a strong rise and broke the key $9,100 resistance zone. The price is now trading close to $9,400 and it might soon attempt to clear $9,500. There is a major bullish trend line forming with support near $9,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate its rise if there is…

Bitcoin Cash and BSV Hash Rates Surge Following BTC Halving

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The Bitcoin Cash and Bitcoin SV hash rates have recovered following a dramatic fall after their halvings in April, as the Bitcoin hash rate declined since the May 11 halving. According to bitinfocharts, Bitcoin Cash’s hash rate increased more than 90%, from 1.43 Exahashes/second (EH/s) on May 10 to 2.74 EH/s on May 13. The hash rate of BSV also grew from 1.1 EH/s to 1.78 EH/s. BCH and BSV pre-halving and post-BTC halving. Source: bitinfocharts.com Miners flee following halvings Both BCH and BSV experienced a steep drop in mining…

Bitcoin May Get Massive Boost as Democrats Propose $3 Trillion in Extra Stimulus

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Both Bitcoin and the stock market have recovered strongly since the March lows, but the “real” economy is not in a good place. As Chamath Palihapitiya — one of the first Facebook executives and a prominent venture capitalist — said in a recent CNBC “Squawk Box” interview, the economy is now far removed from capital markets. With over 30 million Americans filing for unemployment over the past two months and with companies projecting a huge drop in earnings for the second quarter of 2020, politicians are working to support the economy…

Spotify-like Subscription Model Proposed For Collateral Payments

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A new blockchain protocol funded by Web 3.0 Foundation promises to reduce collateral requirements in DeFi and cross-chain applications. Interlay received a grant from the foundation to build a bridge between Polkadot and Bitcoin (BTC). The latest paper to come out from this project, “Promise: Leveraging Future Gains for Collateral Reduction”, proposes a new protocol . Alice & Bob engage in ongoing relationship The easiest way to explain how Promise works is through an example. Let’s say, Alice engages Bob as a service provider for a series of tasks, and…

Enterprise Blockchain Market Will Hit $21.07 Billion By 2025, Says Fortune Business Insights

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A new study from Fortune Business Insights, a company offering market studies and consulting services, estimates the blockchain technology market will reach $21 Billion by 2025, according to GlobeNewswire’s report on May 12.  It stated that:  “The blockchain technology market size stood at USD 1.64 billion in 2017, and is projected to reach USD 21.07 billion by the end of 2025 […] exhibiting a CAGR of 38.4% during 2018-2025.” Reasons behind the expansion The main reason for the growth of the global blockchain technology market, according to the Fortune Business Insights…

China’s Central Bank Wants to Speed Up Blockchain Adoption

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The People’s Bank of China, or PBoC, Financial Technology Committee held its first meeting of the year this week. During the meeting, the central bank’s deputy governor, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated. According to a report released by Sina on May 13, the bank’s deputy governor met with both PBoC officials and the heads of their affiliated financial companies. During the talks, Fan highlighted the importance of the blockchain and fintech industries, openly seeking to ensure that the country’s adoption plan will be successfully…

Pantera Capital Founder on What He Learned From Missing Out on Ethereum

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Dr. Steven Waterhouse, a founding partner of Pantera Capital, says that his biggest regret as a VC is not investing in the Ethereum (ETH) Initial Coin Offering (ICO), but he learned his lessons from his mistake. Waterhouse received his doctorate from Cambridge University back in 1997. He launched several successful ventures before joining Fortress Investment Group in 2013 where he rubbed shoulders with Mike Novogratz. Initially, the idea was to start a crypto fund within Fortress. When this did not work out, he became one of the founding partners of…

Bitcoin Explodes Above $9,300 After Halving: What Do Analysts Expect Next?

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Bitcoin has continued to rally higher since our last market update, recently retaking $9,300 for the first time since the crash on the morning of May 10th. Bitcoin’s price action from May 8 to today charted by TradingView.com. This strong recovery comes after Bitcoin fell as low as $8,100 due to a sell-off prior to the block reward halving, seen in the middle of the chart above. Here is what analysts expect for the cryptocurrency market next. Bitcoin Poised to See Short-Term Correction While many believe that Bitcoin’s long-term outlook…

Interpol Teams Up With Kaspersky to Declare ‘Anti-Ransomware Day’

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International crime-fighting organization, Interpol, joined forces with cybersecurity firm, Kaspersky, to launch a campaign called “Anti-Ransomware Day”. The date is set on the third anniversary of the most significant ransomware attack on record, WannaCry. According to the announcement, the May 12 holiday will raise awareness about the effects of ransom-centric cyberattacks which continue to affect people and businesses all over the world. A study revealed by Kaspersky reported that until October 2019, WannaCry held the title of the most significant ransomware attack ever executed. Companies affected by WannaCry attacks suffered…