Blockchain
Ethereum Price Fighting Its Resistance Aiming to Rise Very Soon
Probable Reasons for ETH surge Ethereum price surpassing $400 is not the first time in the recent past, however, it failed to find any support over the mark. Few analysts predict an uptrend for the digital asset, but soaring beyond $400 is still misty. Currently, ETH is trading at $334.70 with a loss of 0.05 …
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Probable Reasons for ETH surge
Ethereum price surpassing $400 is not the first time in the recent past, however, it failed to find any support over the mark. Few analysts predict an uptrend for the digital asset, but soaring beyond $400 is still misty. Currently, ETH is trading at $334.70 with a loss of 0.05 percent.
ETH Price to Soar With BTC
The second most loved cryptocurrency is often seen following the no. 1 crypto Bitcoin as observed in the recent price chart. Also during the recent DeFi swell, ETH surged with soaring prices nearing $480. At the same time, Bitcoin also surged above $12000 and for sometime slipped below.
Therefore, BTC price plays a vital role in the ETC surge. As bitcoin is expected to jump very high in the coming days, ETH might also follow BTC.
However, one of the analysts Vince Prince speculates a bearish downtrend for the digital asset. As per Prince, Ethreum price could possibly decline below the range of $300.
The Population of Ethereum Whales Increases
The dip in the price has invited new whales in the market. According to the crypto insight provider, Santiment, as good as 68 new ETH Whales have joined the market. These whales hold 1,000 to 10,000 ETH and have joined after 04 Sep 2020.
The prime focus here is, the large chunk of investors or traders jumped into the pool when ETH price has dipped more than 30 percent. Hence, a bullish trend can be expected in the coming days.
Ethereum Outperforms Bitcoin in Several Other Ways
Regardless of the price and the market capitalization, Ethereum has managed to flip Bitcoin in these areas.
Transaction Volume
It’s evident that the transaction over the Ethereum network is more fast and secure compared to that of bitcoin. And therefore faster network blocks process more transactions that places Ethereum a step forward than Bitcoin
Transaction Fees
The higher transaction fees or Gas fees particularly has been outspread over the crypto community in recent times. In fact, the ETH gas fees had superseded the BTC transaction fees in recent days. However, the high fees of ETH than BTC cannot be considered as a milestone, rather a matter of concern.
Nodes
The node count is considered as a crucial statistic as more nodes signify more decentralization with high security. Currently, there are 9,025 Ethereum nodes compared to 7,628 Bitcoin network nodes. However, currently, it might not seem to be troublesome but could play a vital role after the release of ETH 2.0.
Summarizing the whole story, Ethereum is struggling to maintain its support level above $330. However, the analysts predict a bearish trend for ETH with price dipping till $250. Conversely, a short term relief which could pump the price nearing $400 could play a vital role before the plunge.
Summary

Article Name
Ethereum Fighting Its Resistance Aiming to Rise Very Soon
Description
Ethereum is showing an overall bearish trend at present which is expected to continue for some more time. Regardless of the price and market cap, Ethereum has outperformed Bitcoin in other aspects.
Author
Sara
Publisher Name
Coinpedia
Publisher Logo

Source: https://coinpedia.org/news/eth-price-aiming-to-rise/
Blockchain
Da Vinci Capital Reportedly Requests $100 Million from Telegram for TON’s Failure


A large investor in Telegram’s failed Open Network (TON) has reportedly requested $100 million in compensation from the company. Otherwise, the investor – Da Vinci Capital – has warned with taking legal actions against the messaging platform.
TON Investor Demands $100M
Telegram’s TON initiative was among the most widely-discussed blockchain-related projects in the past few years. However, the endeavor faced almost immediate backlash from the US Securities and Exchange Commission (SEC) as a US court decided at one point that the native currency – GRAMS – is a security token, which couldn’t be sold in the US or anywhere else.
Telegram attempted on multiple occasions to fight the court’s decision and to prove that GRAMS is not a security. However, to no avail and Pavel Durov, the company’s CEO ultimately had to throw the towel by saying that “Telegram’s active involvement with TON is over.”
Although the company has distanced itself from the failed blockchain project, the problems keep following it, according to a recent report by Forbes Russia. Citing anonymous people familiar with the matter, the coverage said that Da Vinci Capital, an investor in the $1.7 billion initial coin offering, has requested compensation for TON’s failure.
Lawyers from the Moscow-based investment company have reportedly sent a letter of intent to file a claim to Durov, Telegram Vice President Ilya Perekopsky, and other executives and lawyers involved with the project.
The report says that Da Vinci Capital had demanded roughly $100 million as compensation.
Two Weeks to Answer
Forbes’ coverage further explained that Durov and his colleagues have two weeks to transfer the funds or notify the lawyers from the investment company if they decide to reject it.
However, if Telegram fails to answer in the provided timeframe, Da Vinci Capital has the right to take the matter to court.
Apart from these allegations, Telegram recently negotiated funding round to raise at least $1 billion in a private bond placement to accredited investors from Russia, Europe, the Middle East, and Asia. Those bondholders would be able to convert debt into shares at a 10% discount to the offering price if Telegram decides to go public in the next five years, revealed the conditions of the round.
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Blockchain
ChiliZ To Expand Operations, Will Invest $50 Million in the US


Following milestone partnerships with sports teams in Europe, ChiliZ have their eyes set on conquering the United States. The fintech platform will open a new office in one of the world’s major commercial cities, New York.
ChiliZ To Set Up New York Office
Maltese blockchain giant, ChiliZ is scaling up operations after securing several partnerships with top European sports franchises. Reuters reported earlier today that the fan engagement platform would open an office and invest $50 million in the United States. According to its chief executive, Alexandre Dreyfus, the move should bring the firm within reach of top United States sports outfits. He told Reuters :
“A huge focal point for us in our global growth plans is the U.S.. That’s why we’re opening a New York office and investing $50 million into the country’s sports industry in order to launch Fan Tokens with leading franchises from the five major U.S. sports leagues”
On launching Fan tokens, ChiliZ has made headway through its subsidiary, Socios. It has partnered with football behemoths like FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, and Atlético de Madrid to launch branded fan tokens. These permit owners to engage in club polls, access VIP rewards, and partake in chat forums.
The company currently has offices in Malta, France, Turkey, Korea, Switzerland, and South America. It had earlier announced that it would open offices in New York and Madrid. With the New York office inching towards reality, Chiliz is undoubtedly advancing towards global growth.
Aims To Double Up on 2020 Revenue
Speaking further about the expansion, Dreyfus boasted about his company’s capacity to generate returns for its partners in the sports and entertainment industry. He said:
“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organisations. In 2020, we shared more than $30 million with our partners, but this year we’re targeting a minimum of $60 million.”
Revenue from the company’s partnership with seven-time European champions AC Milan proves Dreyfus is not bluffing. The Italian football giant launched its token ($ACM) on Binance on February 24th. Within hours of the launch, over $6 million was generated as trading volume hit $50 million in the first 30 minutes.
Big Market For ChiliZ?
For Joseph Edwards, Enigma Securities head of researcher, there is no better time to seize the initiative. He opined that the soaring interest in NFTs indicates a big market. He elaborated further that NFTs bridge the gap between fans and their subject of interest, especially as Covid-19 caused a disconnection.
“Fan tokens right now are just hitting the perfect itch at the perfect time – fans are disconnected physically from their fandom, and this helps bridge that gap,”
NBA Top Shots seems to be a perfect example. The NFT platform has continued to gain momentum as interest surges. It reached a record-breaking $231 million in sales over the past 30 days. Perhaps, ChiliZ is taking a cue from this to target the American sports market.
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Source: https://cryptopotato.com/chiliz-to-expand-operations-will-invest-50-million-in-the-us/
Blockchain
Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures


BCB Group, a crypto payment/trading services provider, today announced it has closed a $4.5 million investment round. The strategic funding was co-led by North Island Ventures and Blockchain.com Ventures; with participation from Pantera, L1 Digital, and Pack Capital.
As a dual regulated institution, BCB Group offers an end-to-end suite of payment processing, cryptocurrency trading, and custody. Services are accessible through a unified API-enabled platform; allowing clients to access a full range of crypto-asset products in one place.
Funding
The proceeds of the round will be used to fund investments in several new initiatives…
These initiatives include: BCB Treasury, a service designed to help companies interested in investing in bitcoin as a treasury asset. BCB Yield Accounts, a product offering clients a return on their positions. And BCB Wealth Partners, a comprehensive crypto service for private wealth clients.
“There’s so much more we want to offer our clients; and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure. This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”
– BCB Group Founder and CEO, Oliver von Landsberg-Sadie
Previously, back in March 2019, BCB Group received funding from NKB Finance and a private investor in a $1 million seed round; which brought the company much-needed talent in engineering and operations.
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