Bitcoin News Roundup for Sept. 15, 2020
Bitcoin (BTC) has crossed into the bullish territory but may remain vulnerable to another sell-off in stocks.
Data company DeFi Pulse and investment-minded Set Protocol have created a permissionless index of the very best DeFi tokens, called the DeFiPulse Index.
Michael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin (BTC) in a single purchase.
DeFi lending project bZx has been able to recover about $8 million in cryptocurrency from an attacker who stole the funds after exploiting a code bug over the weekend.
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Author: Published 18 hours ago on 15/09/2020
Why This Ethereum-Based DeFi Coin Is Up 30% on the Day
Both Bitcoin and Ethereum have stalled, but it seems that altcoins are once again popping off. A swath of digital assets in the top 100 have gained dozens of percent in the past 24 hours, with some managing to even double.
One such digital asset outperforming the market leaders is BZRX, the native token of the bZx Protocol. That cryptocurrency is up 30% in the past 24 hours, surmounting the value of $1.00 for the first time ever. BZRX, based on Ethereum, trades at $1.11 as of this article’s writing.
Chart of BXZ Protocol's token over the past few days from TradingView.com
The coin is up a lot in the past 24 hours due to a listing on Binance. Binance has rapidly ramped up its listing process over recent weeks due to it being a bull market. By NewsBTC’s estimates, approximately two-dozen coins have been listed in the past month alone.
Coins listed by notable exchanges like Binance and Coinbase often lead to rallies in their price due to these exchanges often being these coin’s first source of real liquidity.
BZRX has been no exception.
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Author: by ajlopez
Ethereum (ETH) Price Analysis: September 15, 2020
Ethereum (ETH) has seen a strong rebound from its current lows, with the continued rise of Bitcoin (BTC) along with the enormous technical power it has seen. The leading altcoin has increased by 3% in the last 24 hours, according to CoinMarketCap data. The cryptocurrency was trading at $ 376 at the time of writing.
The cryptocurrency market is in an upward trend today, partly due to Bitcoin’s strong weekly candlestick close and the continued rise seen in the stock market, according to analyst Cole Petersen. It is important to note that although Ethereum has recovered from the daily lows of $ 350 set at the bottom of yesterday’s sale, the cryptocurrency has yet to break above the $ 380 resistance level.
Analyst Crypto One points out that the slight weakness is also a sign that the digital asset may be getting higher on the moderate buying pressure. However, if the market-wide strength seen today expands further and creates wind for Ethereum, there is a chance to regain a significant level that could trigger the next intense uptrend.
Ethereum is trading up 3% at its current price of $ 375. This marks a notable rise from the daily low of $ 352 set at the bottom of yesterday’s intense selling. This sale appears to follow the trend of a large buyer on Bitfinex using fake orders to raise the asset price.
When these orders disappeared, the price of ETH led to the intense sales seen yesterday. Ethereum seems to have quickly entered the oversold zone yesterday, as crypto’s massive recovery points to an underlying strength. Over the next few days, the trend of Bitcoin and the stock market will have a serious impact on Ethereum’s price action.
Last week, Etheruem managed to climb as high as $ 390. At yesterday’s candle close, the bulls defended the 2019 high. There was an attempt to recover today as buyers moved towards $ 375. The bulls continued to defend the support at $ 364 yesterday. For this reason, analysts have stated that Ethereum is likely to close above $ 400 by the end of this week.
Last week, Etheruem managed to climb as high as $ 390. Looking ahead, the initial resistance level lies at $ 390. This is followed by the $ 400, $ 410 and $ 420 resistances. Additional resistances lie at the $ 438, $ 445 and $ 475 levels.
Author: Leonard Mansonhttps://somagnews.com
Will a Digital Yuan Sound the Death Knell for China’s ATMs?
The rollout of China’s digital yuan could spend the end for the nation’s ATMs, per a new report – with digital finance marginalizing hole-in-the wall-based technology.
Per media outlet Huo Long Guo Cai Jing, the ATM industry was at its peak in 2015, when some 252,000 machines were installed nationwide.
However, since 2017, ATMs have been in decline in the Middle Kingdom.
Rather than rolling out more conventional ATMs, banks and ATM machine operators are instead looking to revamp older models or replace them with “smart” terminals that will be compatible with digital yuan transactions.
The media outlet claimed that a digital yuan-compatible “ATM system transformation project has already begun.”
However, it could cost as much as USD 11bn to update all of China’s ATMs, a fee that could make the process too cost-ineffective to even consider embarking on.
Earlier this year, ATM market leader Guangdian Express reported that it had been involved in research and development projects in conjunction with the central People’s Bank of China-led digital currency research team, and was also looking into hardware wallet technology. The same firm has also developed its own blockchain technology solutions, and is working with a number of other government organs.
However, with Tencent’s WeChat Pay and Alibaba’s Alipay e-pay platforms already accounting for a combined 15% of payments and money transfer in China, the digital yuan – which may remove much of the need for ATM-based finance – could well give the ATM industry another battering.
Crypto adoption is also high in China, despite the fact that crypto exchanges remain illegal in the Middle Kingdom. Over-the-counter crypto trading continues to boom in China, and bitcoin (BTC) and altcoins remain a popular choice for the nation’s middle classes – another factor that could yet further marginalize ATM-based finance.
Author: Posted by George Harrison