Day: May 30, 2020

Analysts: Why Bitcoin Breaking $10,500 Is So Crucial to the Long-Term Bull Case

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After days of stagnation and consolidation, Bitcoin started to mount a strong comeback earlier this week. The leading cryptocurrency now trades for $9,650 — the highest price in over a week and more than 13% higher than the ~$8,550 lows seen during a retracement earlier this month. But Bitcoin remains below a crucial region of resistance that analysts say could unlock upside not seen since 2019 if BTC manages to reclaim the zone as support. The Importance of $10,500 to Bitcoin As arbitrary as this number may sound, $10,500 is…

Ransomware Attack Kidnaps Austrian City

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Malware team, NetWalker, launched a ransomware attack against the Austrian village of Weiz. This attack affected the public service system and leaked some of the stolen data from building applications and inspections. According to the cybersecurity firm, Panda Security, hackers managed to penetrate the village’s public network through phishing emails related to the COVID-19 crisis. COVID-19 as bait to deploy the ransomware The subject of the emails — “information about the coronavirus,” — was used to bait employees of Weiz’s public infrastructure into clicking on malicious links, thus triggering the…

Custodian With 100k Users Plans to Tokenize $13 Billion in Assets

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Kingdom Trust, a South Dakota-based custodian managing more than $13 billion assets, is closely eying the tokenization sector. Speaking to Cointelegraph, Kingdom Trust chief executive, Ryan Radloff, revealed that the firm wants to tokenize the more than 20,000 alternative, crypto, and legacy assets that it currently offers custody services for. He said: “If you look beyond just Bitcoin, at the clash of alternative assets like [real estate investment trusts] REITs, gold, land, and other things that Kingdom custodies, this is a prime environment for the clash between blockchain technology, tokenization…

$10 Million Burned on BitMEX Shorts as Bitcoin Surges to $9,700

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Just hours after Ethereum rocketed higher, so too has Bitcoin. The leading cryptocurrency recently reached $9,750, the highest price BTC has traded at in over a week. $9,750 is just over 13% higher than last week’s lows of $8,600, established as miners were seemingly dumping their coins in response to the May 11th block reward halving. Bitcoin price chart from Tradingview.com Due to the timing of the move, it seems that Bitcoin is being dragged up by Ethereum. As shared in a previous market update, the prominent altcoin is up…

Cryptocurrency News From Japan: May 24

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This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. GMO Coin users pick Bitcoin over XRP GMO Coin, a crypto exchange under Japanese tech outfit GMO, conducted a poll, asking users which crypto asset they think holds the most promising future. …

Ethereum Erupts 10% Higher: Here’s Why Analysts Think More Upside Is Imminent

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While Bitcoin is stalling under the key $9,500-9,600 resistance level, Ethereum has rocketed higher. The asset, according to TradingView.com, is up 10% over the past 24 hours. ETH is currently pushing $244, the highest price since early March. For some context, Bitcoin is up a mere 1% in the past 24 hours. Also, a majority of altcoins have registered gains of around 2-4%. Ethereum price chart from TradingView.com This surge higher over the past 24 hours has had a large effect on the Ethereum derivatives market. According to data shared by…

Cointelegraph Joins World Economic Forum’s Strategic Intelligence Network

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We are excited to announce that Cointelegraph has joined the World Economic Forum’s Strategic Intelligence contributor network as a content partner, supplying the latest blockchain and cryptocurrency industry news, market analysis and op-eds into its sophisticated and wide-ranging knowledge base.  Launched in 2019, Strategic Intelligence uses a combination of professional and AI-driven analysis to curate insights from think tanks, institutions and media outlets around the globe. Users can more effectively navigate the complex and interconnected global problems that beset the world, such as hunger, poverty, energy, health care, climate, global…

Samsung May Have Appointed New Blockchain Leadership

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Although the company made no official announcement, South Korean tech conglomerate Samsung Electronics seems to have been appointed a new Vice President in its AI PM Group / Blockchain Dev Group. Woong Ah-yoon, a former chief architect of Blockchain Solutions for Healthcare and Life Sciences at IBM, recently updated his LinkedIn profile with the new role. However, according to the information provided, he has been reportedly holding the position since January 2020. According to the local media Fn News, Woong will expand and reorganize the Blockchain Task Force division of…

Dogecoin CEO Elon Musk Launches Humans Into Orbit

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Elon Musk, a tech mogul with indirect ties to the crypto industry, sent two humans into orbit on May 30 in the first private, manned space craft launch in history.  “The launch will be the first time a private company, rather than a national government, sends astronauts into orbit,” Fox News said in a May 27 brief. “It will also be the first time that astronauts launch from U.S. soil since the final space shuttle mission in 2011.” Ground control to Maj. Musk  Known for his leadership of futuristic car…

Hashpower Could Migrate From East to West as Global Mining Landscape Changes

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Speaking to Cointelegraph, the CEO of Ripple SBI Asia, Adam Traidman, predicted that the mining industry will continue to see hash rate migrate from east to west, asserting that he is already witnessing the transition begin. “We are seeing a huge interest [from][ wealthy Chinese miners who are paying somewhere on average of $0.03 to $0.05 per kilowatt-hour […] in Texas at $0.025 and below — in some cases way below,” Traidman stated. Tensions between American and Chinese miners However, the Ripple SBI Asia head noted that relations between mining…

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