Connect with us

Blockchain

Bitcoin News Summary – July 6, 2020

The post Bitcoin News Summary – July 6, 2020 appeared first on 99 Bitcoins.

 ZenGo research team just disclosed a vulnerability related to the Replace By Fee (RBF) …

Bitcoin News Summary – July 6, 2020 Read More »

Published

on

ZenGo research team just disclosed a vulnerability related to the Replace By Fee (RBF) feature which affects the displayed balance within several Bitcoin wallets. The vulnerability named “BigSpender” allows an attacker to send a Bitcoin transaction with a minimal fee and then, before this transaction is confirmed, replace it with another higher-fee transaction sending the same coins to a different address. Ledger Live and BRD have already patched the issue, Edge intends to address it soon.

Major crypto payments portal, BitPay, will finally integrate SegWit for Bitcoin transactions in the months ahead. SegWit considerably reduces fees for users and eases network traffic. The move was long resisted by BitPay, which accounts for a considerable volume of Bitcoin traffic. 

Bitcoin, Ethereum, and Dash will soon be accepted at over 2,500 locations across Austria, via the A1 Payment network in collaboration with crypto services firm, Salamantex. If all goes well, the rollout of the crypto payment service will continue in neighboring countries in the near future.

A bug in Ravencoin’s wallet code led to the illegal minting of roughly $5.7 million worth of  RVN above its maximum intended supply. While no RVN was lost from user holdings, the value of their holdings has been diluted by the uncontrolled inflation, which constitutes about 1.5% of the coin’s intended supply. While a patch was released, it’s unlikely that the extra coins can be removed from circulation.

Before we conclude, this week’s “Bitcoin quick question” is how to stake coins?

To stake coins is to “lock” coins in a designated wallet, in order to earn rewards. Behind the scenes, stakers participate in the verification process of the blockchain network’s rules.

The first step is to decide which coin to stake, taking into consideration the expected rewards and the minimum requirements. 

Then, you must download the coin’s wallet from its official website, acquire the amount of coins you wish to stake using an exchange, then move them from the exchange and lock them in the wallet. 

Keep in mind that the wallet has to be fully synchronized with the blockchain at all times in order to obtain the rewards.

Alternatively, you may choose to participate in a Staking Pool. Staking Pools remove the minimum requirements by allowing numerous stakers to join forces and split the rewards between them. However, they are prone to another layer of risks such as hacks or scams.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.

That’s what’s happened this week in Bitcoin. See you next week.

Source: https://99bitcoins.com/bitcoin-news-summary-july-6-2020/

Blockchain

Bitcoin Will Hit $120,000 Faster Than It Moved From $30,000 To $60,000, Analyst Posits

Published

on

Bitcoin Unlikely To Drop Below $8,200 In 2020 And Will Hit $100,000 By 2021, Analyst Affirms

Advertisement &  & 

Bitcoin has consistently traded above the $60,000 support level in the past week, proving its resilience since breaching this level for the first time since April. The top coin is up 10 percent in the last 7 days, recently reaching an all-time high of $67,000.

Many analysts now predict better days ahead, particularly driven by widespread tales of the first Bitcoin futures ETF approval in the US.

At the current average price of $62,731, Bitcoin is less than $4,500 away from reclaiming a fresh all-time high as per data by Coingecko. The data also show Bitcoin’s uptrend has been consistent for the past three months, with its performance reaching over 37 percent in the last 30 days.

BTCUSD Chart By TradingView

Bitcoin above $100,000 in November

Bitcoin took around two months to double its price to $60,000, having last traded at around $30,000 on July 23. However, Bitcoin will take an even shorter time to reach $120,000, due to the ongoing bullish trend, according to crypto analyst and trader InMortal.

“60k to 120k will be faster than 30k to 60k. That’s all, that’s the tweet.”

Advertisement &  & 

The prediction puts bitcoin at $20,000 above the highly anticipated $100,000 price level as early as November. Moreover, crypto author Glen Goodman believes that Bitcoin will peak at $150,000 in 2021. The downside is that at that top, the following price adjustment could correct all the way down to $20,000.

“This is the big #Bitcoin picture. *If* this repeating pattern continues, the top end for $BTC this cycle is ~150,000 and return to the bottom line would be ~$20,000.”

Bitcoin Bears are in Trouble

The price action has been merciless to Bitcoin bears, with massive liquidations reported across all major trading platforms in the past week. According to crypto analyst and Youtuber Benjamin Cowen, the bears are in huge trouble, with many getting restless as Bitcoin holds its own above $60,000. Cowen believes that even with slight price pullbacks, the trend is bullish and Bitcoin will soon trade above $67,000-$69,000.

“It’s only a matter of time before the bears have to throw in the towel because right now I think they’re on life support.”

In contrast to the celebration mood in the market for the Bitcoin ETF approval, Bloomberg’s Claire Ballantine thinks that Bitcoin ETFs have certain characteristics such as high premiums that make them a bad choice for investors.

“For investors, new Bitcoin ETFs might be more costly than purchasing cryptocurrency directly. Bitcoin Futures has underperformed 30 ppts since the start of Bitcoin Future in 2017.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://zycrypto.com/bitcoin-will-hit-120000-faster-than-it-moved-from-30000-to-60000-analyst-posits/

Continue Reading

Blockchain

$200M Fund For Crypto Projects Launch By Sino Global With FTX Backing

Published

on

The Beijing-based crypto firm Sino Global Capital launched a $200 million fund backed up by crypto exchange FTX to invest in projects such as DeFi, Web 3.0, and NFT infrastructure. The news was first reported by The Block, along with the firm’s CEO comments about their expectations and further approach.

Sino Global explained that Liquid Value Fund I will have a hard cap of $200 million and is going to focus in Asia, especially India, according to an official statement made to Coindesk.

The focus on India was to be expected since the firm’s CEO Matthew Graham recently tweeted they are looking to hire investment analyst interns “physically based in India”.

Crypto
Tweets by Matthew Graham, CEO of Sino Global Capital.

The question was raised by other Twitter users whether this is just an intent for “a rotation away from China market”.

However, Graham has shown further interest in India’s knowledge of engineering and its prominent crypto space. He stated to The Block that at the firm they “see India as an extremely important, yet idiosyncratic, market for crypto”.

Recent reports show that India has 100 million crypto owners, a top number higher than the U.S. (27 million) and any other country. Their crypto space is increasingly growing at a rapid speed, being of great potential.

Related Reading | India Tops The List Of Crypto Ownership With 100 Million Hodlers, Where Does Your Country Place?

Graham Believes India Will Regulate Crypto

Sino Global’s stated they have invested in over 20 other projects, as shown in their portfolio, counting FTX, Solana, Clearpool, Delta Exchange, Mintbase, and others; Solana being the most successful so far. The current fund will be focusing on the Solana and Ethereum ecosystems.

Sam Bankman-Fried commented to The Block about FTX’s outlook on Sino Global and the fund:

“We are excited to support the launch of Sino Global Capital’s institutional fund, (…) From the very beginning, Matthew and the Sino Global Capital team supported the FTX vision and then worked with us to help make it a reality. The Fund will now provide more opportunities to projects that are pushing crypto and blockchain technologies to the next level.”

CoinDesk reported that the Liquid Value Fund I will purchase some of the firm’s investments at cost, “including LayerZero, Orca, and Clearpool”.

They also stated that this is the first time the Chinese crypto venture capital firm accepts outside investment “from a broad range of accredited investors”.

Recently, FTX raised $420 million from 69 investors getting to value the company at $25 billion”. In regards to the event Bankman-Fried commented the following to CNBC:

Today we are focused on establishing FTX as a trustworthy and innovative exchange by regularly engaging with regulators around the world, and constantly seeking opportunities to enhance our offerings for digital asset investors.

Graham believes India counts with the greatest crypto entrepreneurs and along with FTX aims to find opportunities in the country. Despite India’s unclear policies, Sino Global’s CEO remains positive about the government allowing clarity and regulations for digital assets in the near future.

Related Reading | Why Is India Leading In Crypto Adoption?

Crypto
ETH price trading at $4,199 | Source: ETHUSD on TradingView.com

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://bitcoinist.com/200m-fund-for-crypto-projects-launch-by-sino-global-with-ftx-backing/?utm_source=rss&utm_medium=rss&utm_campaign=200m-fund-for-crypto-projects-launch-by-sino-global-with-ftx-backing

Continue Reading

Blockchain

MATIC Price Analysis: Weekly and 4 Hr Chart Analyses Reveals Buy Signal for Polygon

Published

on

Polygon recently set a new record for highest bounty paid in DeFi. The team at Polygon paid a two million US dollar worth of bounty to Gerhard Wagner, a white hat hacker who discovered a crucial vulnerability that had put around 850 million US dollars’ worth of capital at risk.

So what type of vulnerability could this be? Well, it’s a double-spend bug, a type of bug that could have tuned catastrophic for the Polygon ecosystem.

Bullish/Bearish Scenario

  • The bear-trap candlestick formation on the weekly time frame, alongside the buildup of bullish divergence on the 4HR time frame, shows that the bulls are back in control.
  • A breakdown of the 1.152 support implies a bearish takeover.

Important Weekly Polygon (MATIC) Announcements

  • Immunefi, a bug bounty, and security platform acknowledged that the bounty is the highest that has been paid in decentralized finance [DeFi].
  • Another exciting announcement in the Polygon ecosystem is the PECO-Polygon Ecosystem Index, which makes it possible for participants to bet on the performance of Polygon [MATIC] projects. The PECO Index is a single token that captures the best native projects on @xPolygon.

Without any further delay, Let’s analyze the MATICUSDT price chart.

Polygon (MATIC) Price Analysis:  MATICUSDT Weekly Chart 

Following the path of most top altcoins in the cryptocurrency market, the MATICUSDT triggers a bear-trap candlestick formation while trading within a rising and expanding wedge.

Although the crypto pair still trades below its all-time high, higher RSI readings above level-25 tell us that we are still in an uptrend and we may soon see a surge in demand for the MATIC token.

Polygon (MATIC) Price Analysis:  MATICUSDT Daily Chart 

A recent regular bearish divergence on the daily chart above shows that we may soon see a slowing and possible correction of current gains.

Failure of RSI values to breach below level-25 would suggest a continuation of the current uptrend.

Polygon (MATIC) Price Analysis:  MATICUSDT 4 Hr Chart 

As the RSI prints higher values above level-25 on the daily time frame, the 4HR time frame confirms entry into the uptrend with an exit of the oversold area [level-25] with the recent entry of oversold at press time.

Regular and hidden bullish divergence setups are instrumental for the previous trend reversal and current trend continuation we see on the above intraday chart.

An impending hidden bullish divergence at press time may be sufficient for the bulls to find a price floor above the 1.491 support and restore the MATIC price into new highs.

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coingape.com/polygon-matic-price-analysis-intraday-hidden-bullish-divergence-signals-trend-continuation-for-maticusdt/

Continue Reading
Blockchain3 days ago

3 Million CoinMarketCap Email Addresses Have Leaked

Blockchain3 days ago

Compre cianuro de potasio para la venta, compre KCN para la venta en línea, compre cianuro de sodio…

Blockchain3 days ago

Bitcoin’s Price Could Rally to $90,000, Fundstrat Strategists Say

Blockchain3 days ago

Fidenza Artist Sells $7M in NFTs That Aren’t Yet Minted

Blockchain3 days ago

Bitcoin price consolidation leans toward ‘another leg higher’

Blockchain3 days ago

This Artist Is Making Multi Million Dollar NFT’s Using Algorithms

Blockchain3 days ago

DeviantArt Integrates Crypto Payment To Its Subscription Service

Blockchain3 days ago

Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating

Blockchain3 days ago

Nasa Coins.ph na ang AAVE, MKR, UNI!

Blockchain3 days ago

YSL.IO x RD Auditors – Audit 2 Complete!

Blockchain3 days ago

Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations

Blockchain3 days ago

Reddit Wants To Build NFT Platform, A Job Posting Shows Why

Blockchain3 days ago

Terragods

Blockchain3 days ago

Here’s Ripple CEO’s take on firm’s ‘record year,’ despite SEC’s ‘headwinds’

Uncategorized3 days ago

ImLive Evaluation in 2020

Blockchain3 days ago

Solana Is Close To Its All Time High

Blockchain3 days ago

CoinConnect is a new automated service that helps you trade in the cryptocurrency field without…

Blockchain3 days ago

Journalist and Youtuber Tim Pool Believes 1 Bitcoin Will ‘Eventually Be Equivalent to $1 Million’

Blockchain3 days ago

Facebook Novi Wallet: Will It Be a Gamechanger for the Crypto Industry?

Blockchain3 days ago

Acquista cianuro di potassio in vendita, acquista KCN in vendita online, Acquista cianuro di sodio…

Trending