Day: May 27, 2020

Two Key Reasons Why Bitcoin Must Clear $9,300 To Start A Strong Increase

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Bitcoin avoided a major downtrend and recovered from the $8,680 support against the US Dollar. BTC price is trading above $9,000, but it must clear $9,300 to start a strong increase. Bitcoin is up more than 4% and it climbed above the $9,000 resistance. The price is trading well above the $9,100 level, but it is still facing hurdles near $9,300. There is a rising channel forming with support near $9,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase…

Falling Wedge Breakout Propels Bitcoin Price Above Key Resistance at $9.2K

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Within the past few hours Bitcoin (BTC) price managed to press through the $9,200 resistance level to $9,281. While the 2.58% gain may not be much to talk about, the move above the key resistance level is a step forward and the initial move to $9,180 closed the CME gap from last weekend. Crypto market weekly price chart. Source: Coin360 Since dropping to $8,640 on May 25, Bitcoin price has gained 7% and this occurred as the S&P 500 and Dow both rallied higher this week.  On Wednesday both indexes…

Revolut App Reports 68% Increase in Retail Crypto Traders

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Data provided by U.K.-based finance app Revolut shows the coronavirus lockdown has impacted the crypto trading habits of its users. Almost a third of Revolut’s 10 million customers have traded cryptocurrency on the app, which caters to casual, retail crypto traders. As the lockdown restrictions were introduced during March, the average size of cryptocurrency purchases from its U.K. customers fell by 58%, from roughly $663 to $281. UK traders regain confidence during April However, crypto confidence rebounded strongly towards the end of April, with the average sum purchased by users…

Russia’s Biggest Bank is Buying 5000 Blockchain ATMs That Can Mine Crypto

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Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. It operates 14,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was Russia’s former minister of Economics…

4 Reasons Why the Bitcoin Price Is Prepared to Explode Towards $10,000

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After holding under $9,000 for days on end, Bitcoin surged higher to hit $9,200 on Wednesday morning. It was a small move in percentage terms but still notable in terms of its technical significance. $9,000, after all, has been defined as a key level for Bitcoin both technically and psychologically. With the price breaking out once again, there is a confluence of signs suggesting Bitcoin could rally past its monthly high of $10,000 in the near future. Here are some of these signs. Related Reading: Crypto Tidbits: Satoshi Isn’t Dumping…

Kleiman Lawyers Seize on New Evidence of Craig Wright’s ‘Fabrication’

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The Kleiman estate’s legal team has entered into evidence this week’s revelation that 145 addresses claimed by Craig Wright are not controlled by him. They filed a notice of supplementary evidence supporting their motion for sanctions against Wright earlier this morning, adding to their laundry list of complaints against the Satoshi-claimant. They said the new evidence further proves the “CSW Filed List” is not a list of Wright’s  Bitcoin public addresses but is instead a “purposeful fabrication” by him.  The Kleiman estate is suing Wright over the Bitcoin he allegedly…

LG Shows Interest in Distributed Ledger Technology, Joins Hedera Hashgraph Governing Council

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LG Electronics has joined the governing council of Hedera Hashgraph, the enterprise-grade public distributed ledger platform. LG serves as the council’s fourteenth member, sitting alongside Boeing, Deutsche Telekom, Google, IBM, Tata Communications, and other leading organizations. Hedera Hashgraph CEO Mance Harmon told Cointelegraph that LG is the first home appliance manufacturer to join the Hedera Governing Council. Harmon noted that LG will specifically work with the other council members to identify ways that distributed ledger technology, or DLT, can benefit consumers and supply chain partners, saying: “LG has fantastic use…

Lithuania’s Central Bank Completes Blockchain Regulatory Research

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As of May 27, the Bank of Lithuania, or BoL, has finished the research phase of its blockchain-related project, LBChain. In the next phase, the institution will create a sandbox that mixes technological and regulatory infrastructure for the technology. The platforms used for the research phase include Hyperledger Fabric and Corda, which were developed by IBM Polska SP. Z.o.o and TietoEVRY. Adapting blockchain technology into different business sectors LBChain allowed market participants to test their business solutions in a controlled environment by assessing the critical needs of fintech and startups.…

Ethereum Network Use Hits a New All-Time High — Will ETH Price Follow?

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According to a recent report by Delphi Digital, the total gas used on the Ethereum blockchain has reached an all time high and it seems like this the figure is set to increase. Gas is the measure used to price fees on the Ethereum blockchain, and the overall use of gas on the network has been rising since the beginning of 2020.  Gas Used vs. Max Gas Possible. Source: Delphi Digital The total gas used is unlike the transaction fee metrics in the Bitcoin blockchain. On the Ethereum network, transaction…

GRX Group’s GRID Platform Hosts its First Tokenized Security

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Adtech firm tribeOS launched shares in its company as tokenized securities via GSX Group’s GRID platform. According to an announcement shared with Cointelegraph on May 27, the shares were already created using GSX Group’s STACS proprietary blockchain network. Per the announcement, STACS is designed to bring more efficiency to the legacy capital markets. GSX Group’s CEO, Nick Cowan, highlighted that tribeOS is the first company to utilize the firm’s GRID security tokenization platform and welcomed other companies that wish to “accelerate the adoption of blockchain within the capital markets.” He…

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