Bitcoin Must Break $9,100 To Avoid A Major Downtrend: Here’s Why

Bitcoin is currently correcting higher from $8,645 against the US Dollar. BTC price needs to clear the $9,100 resistance area to start a strong upward move and avoid a major downtrend. Bitcoin is facing a couple of key hurdles near the $9,000 and $9,100 levels. The price must settle above the 100 hourly simple moving average to avert more losses. There is a key bearish trend line forming with resistance near $9,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline…

Indian Crypto Exchange CoinDCX Secures Additional $2.5M Investment

CoinDCX, India’s largest cryptocurrency exchange, announced that it had raised $2.5 million from investors including Polychain Capital and Coinbase Ventures, the investment arm of crypto exchange Coinbase. The investment comes shortly after the exchange’s Series A funding round in March, in which CoinCDX secured $3 million from Bain Capital, Polychain and HDR Group, the operator of cryptocurrency exchange BitMEX. In an announcement from CoinDCX on May 25, the exchange said it would be using the funds to encourage mass adoption of cryptocurrency in India through its “TryCrypto” campaign. CoinDCX stated…

Spike in BTC Exchange Inflow Preceded Bitcoin Price Correction to $8.6K

On May 24, the price of Bitcoin (BTC) dropped to $8,800 from $9,300. In the next 24 hours, it declined to as low as $8,600, leaving the top ranked digital asset on CoinMarketCap at risk of a bigger pullback. The initial drop of Bitcoin below $9,000 coincided with a massive inflow of BTC into exchanges and Bitcoin on-chain data indicates key players were selling over the weekend. According to data, miners, exchanges and retail investors may have led to the decline in the price of Bitcoin over the past three…

Louisiana Might Soon Offers a License to Bring Crypto Business Back

The state of Louisiana might soon pass a bill to offer licenses for crypto businesses to operate legally, according to a May 25 report. The bill was filed earlier this year with the goal of helping crypto businesses get official licensure and bring more crypto-related business to the state.  The new bill is backed by state representative Mark Weight. If the bill passes, the state would then have a crypto framework to operate from, defining a number of crypto-related terms. The new bill got unanimous initial approval from Louisiana’s House…

Jobless South Korean University Graduates Are Increasingly Interested in Blockchain

Daejeon University is the latest in a series of South Korean universities redesigning portions of its finance and technology departments. The university made an official announcement on May 25 that it would open a new fintech department called “Future Convergence.” According to the announcement published by Daejeon Journal, the curriculum will consist of topics such as smart health care, smart city, smart factory, and various employment fields in the medical institutions by implementing blockchain technology. Universities in South Korea are boosting educational programming related to blockchain, big data, and artificial…

Is Blockstream’s Liquid Network an Attempt to Compete for Tokens with Ethereum?

At Consensus Distributed on May 12, Blockstream presented Lightnite, a Fortnite-like game that uses the Liquid Network for storing non-fungible tokens (NFT) representing game items. While the game is developed by independent company Satoshi’s Games, Blockstream has sponsored the game by running a token giveaway.  The announcement has garnered a considerable amount of criticism from Ethereum (ETH) fans, given the longstanding rivalry with the Bitcoin (BTC) “maximalists.” Non-fungible tokens are traditionally associated with Ethereum and other smart contract blockchains, and received constant criticism from Bitcoin community members as part of…

Visa Approves New DeFi-Enabled Crypto Card in EU and UK

Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion. The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to…

Ransomware Attacks Are Exploding in the Education Sector

Educational services across the globe have been witnessing a surge in ransomware attacks in 2020. According to Verizon’s 2020 Data Breach Investigation Report, ransomware attacks account for approximately 80% of all cyberattacks suffered. The data suggests 92% of these incidents were motivated by financial reasons, while only 3% aimed to perform espionage activities on businesses operating within education. A sharp increase in ransomware attacks since 2019 Ransomware attacks are growing at an alarming rate. Currently accounting for an overwhelming majority of all cyberattacks, ransomware was just 48% of the whole…

Ahead of Ethereum 2.0 Launch, 3 Key Metrics Point to ETH Price Surge

The Ethereum developer community is nearing the launch of Ethereum 2.0, a major multiyear milestone for the blockchain network. Ethereum 2.0 will mark the start of a shift from the miner-reliant proof-of-work consensus algorithm to a proof-of-stake algorithm. In a PoS system, miners are not needed to mine blocks and verify transactions. Instead, users — or stakers — verify data on the blockchain. For now, there is no specific date at hand for the release of Ethereum 2.0, according to its testnet coordinator, Afri Schoedon. “The final spec is not…