Connect with us

Blockchain

Bitcoin News Summary – June 8, 2020

The post Bitcoin News Summary – June 8, 2020 appeared first on 99 Bitcoins.

 Coinbase is offering blockchain tracking software to US federal agencies. Public records revealed that …

Bitcoin News Summary – June 8, 2020 Read More »

Published

on

Coinbase is offering blockchain tracking software to US federal agencies. Public records revealed that Coinbase wants to sell its blockchain tracking service to the Internal Revenue Service as well as the Drug Enforcement Administration. This software will link blockchain addresses to real identities of US and non-US citizens based on publicly-available data.

Bitcoin mining company Bitmain’s co-founder Micree Zhan, who was kicked out of the company last year, hired a dozen security guards to take back control of Bitmain’s China office. Zhan recovered his status as legal representative of Beijing Bitmain last month. The news marks the latest twist in Bitmain’s bitter internal fight just days after they have released the newest Antminer T19 to its top ASIC lineup.

The well-known hip hop artist Akon has awarded a $6 billion contract to a firm to build his futuristic Akon Crypto City by 2029 in Senegal. If successful, the city will run entirely on renewable energy and will use its very own cryptocurrency called Akoin.

The Block revealed that 3.08 million Bitcoins are currently stored across the various exchanges. Coinbase is the largest store of client coins, with nearly 1 million BTC with Huobi, Binance, and OKEX together holding another 1 million coins. The total count of “exchange coins” is down roughly 10% since February. We recommend against storing your coins on exchanges, as a personal hardware wallet is much safer.

Before we conclude, this week’s “Bitcoin quick question” is what is double-spending?

Double-spending means the same funds, whether Bitcoin or a different type of digital currency, could be spent twice by the same holder.

When we transact using a bank wire or a credit card, we rely on centralized middlemen to ensure no double-spending occurs. With physical coins and banknotes, double spending is not possible as well, as the transaction occurs physically.

Cryptocurrencies however are registries in a digital, public accounting ledger, which is secured by achieving consensus between the network participants and without using a centralized entity in the process. Therefore, when each transaction is made, it must comply with the ledger’s rules or else it won’t be processed.

Double spending can still happen though. It could be due to a bug in the network’s code, an attack on the network’s consensus – also known as a 51% attack, or by tricking the other, uninformed party involved in the transaction.  If you want to learn more about double-spending, visit the link in the description.

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-june-8-2020/

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

Blockchain

Harmony’s ONE Token Targets $1 After Breaking All-Time High

Published

on

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptobriefing.com/harmonys-one-token-targets-1-after-breaking-all-time-high/?utm_source=main_feed&utm_medium=rss

Continue Reading

Blockchain

NEAR Announces $800M in Development Grants

Published

on

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptobriefing.com/near-announces-800m-in-development-grants/?utm_source=main_feed&utm_medium=rss

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

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

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

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

Blockchain3 days ago

DeviantArt Integrates Crypto Payment To Its Subscription Service

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