From Bitcoin is forming a bullish model to Bithumb Futures launching a BTC / USDT Perpetual Contract with 100x leverage, here are some highlights in the crypto space.
Bitcoin heads towards the $ 9,000 threshold
Bitcoin price has so far failed to reach the $ 9,000 mark after much effort. On March 3, it failed to reach this target again, hitting an intraday high of $ 8,921.
However, entrepreneur Alistair Milne believes that BTC could rise above the aforementioned level due to the formation of a bullish pattern.
“Broadening falling wedge” -> upward breakout 70-80% of the time, min target ~ $ 9000#Bitcoin pic.twitter.com/ud0PZnIcQI
– Alistair Milne (@alistairmilne) March 3, 2020
According to the chart posted by Milne, BTC is in the process of forming a declining expansion wedge model. It is often said to be a bullish reversal pattern because it emphasizes that buyers are ambitious enough to control the market, even though sellers are showing signs of exhaustion.
Milne identifies the target equal to the highest point at which this pattern is formed ($ 8,990).
Bitcoin's stale block happens regularly
The BTC network is built in which two Bitcoin mining pools can still confirm one block at a time (also known as a stale block), although this is a relatively rare event. But in the past few weeks, stale blocks have been happening in succession. BitMex research shows that three stale blocks have taken place over the past few weeks, with another stale block in January.
Bitcoin had a stale block this morning at height 619,970:
* 4 second time gap
* First stale block since 2020-02-27
* No double spends – The stale block contained 10 txns excluded from the competing block, which all made it into the next block (619,971)https://t.co/uzJXPLZduO pic.twitter.com/7Lr7tJFBto
– BitMEX Research (@BitMEXResearch) March 3, 2020
Bitcoin Cash news
On March 2, the developers behind the Bitcoin Cash Node project were announced The team plans to upgrade in May and beyond. Programmers emphasize that the implementation is built on the longest chain, regardless of whether the IFP Plan is voted or not. The Bitcoin Cash Node will also deploy two new features planned for upgrades in May and evaluate the improvement of the Bitcoin Cash Difficulty Algorithm (DAA).
The development team emphasized that during the upgrade on May 15, full node integration aims to help deploy professional and secure nodes in the longest chain without creating the risk of chain splitting. .
Coinbase's USDC is constantly replenishing money into its treasury. Currently, the major US exchange holds $ 452 million in market capitalization. Although this is a fairly large number and has more than doubled compared to 18 months ago, it is still too faint compared to USDT (capitalization of about 4.6 billion USD).
However, USDC is still comfortable in second place compared to other competitors. Moreover, USDC also began to gain relevant traction when it saw daily trading volume exceed $ 1 billion earlier this year.
$ TUSD & $ USDC volumes have surged in 2020 pic.twitter.com/7dRCP0m5ug
– Unfolded (@cryptounfolded) February 27, 2020
Bithumb Futures, the global digital asset derivative trading platform, has announced Bitcoin Perpetual Contract (BTC / USDT) with leverage up to 100 times as a showcase product for its launch.
Backed by industry leaders, Bithumb Futures has recently completed its initial fundraising round and aims to enter the expanding cryptocurrency derivatives market. The new platform is currently available for registered and introduced users worldwide before launching all functionality in early March.
Bithumb Futures Announced First Bitcoin Perpetual Contract (BTC / USDT) with up to 100x Leverage https://t.co/4VFXmk9gKh pic.twitter.com/TTv1KdJklY
– Gowtham Prabakaran (@ gowtham3834) March 3, 2020
STASIS said on Tuesday that its new wallet has been fully integrated into the Euro Payment Area (SEPA), and will provide financial institutions with a new way of approaching it. Cryptocurrency market.
"We aim to bring licensed fintech service companies to the cryptocurrency market and allow them to test their use for their operations without any regulatory or security concerns. “, STASIS founder and CEO Gregory Klumov said in a statement.
STASIS stablecoin platform releases SEPA-integrated cryptocurrency wallet – https://t.co/NNTcayuse5 – https://t.co/8V6NSLuDyH – Stablecoin Buzz #stablecoin #stablecoins $ usdt $ dai pic.twitter.com/sCvlTLzTOP
– stablecoinbuzz (@stablecoinbuzz) March 4, 2020
MakerDAO has partnered with Simplex payment processor to create an on-ramp fiat for Dai decentralized stablecoins.
According to an announcement on March 3, the partnership makes it possible for users to purchase Dai with credit and debit cards from partner companies Simplex. Maker's business development representative in Europe, Gustav Arentoft, said:
"DAI integrated into Simplex is a boon for current and future users, (…) it gives the company the ability to provide fiat on ramp and off ramp services with the ability to reach out to major players. best in the industry ".
#DeFi Leader MakerDAO Partners With Simplex to #Create a Dai Fiat On-Ramp https://t.co/tMKnMluVm9
– accurate (@accuratefintech) March 4, 2020
Recently on Twitter, TRON announced that they are adding new contract authentication in their blockchain. In the tweet, Tron explained the importance of smart contract authentication in a blockchain.
TRON-IDE V0.4.4 adds a new contract validation feature. https://t.co/2YBgdi0HVS
What issue does contract validation address?
Blockchain is open & accessible to all. However, smart contracts feature binary codes, which can be easily executed by VM but are not human-friendly. pic.twitter.com/dMcLWNmP7G
– TRON Foundation (@Tronfoundation) February 28, 2020
Smart contracts are built on computers using the binary programming language. This method is not as good at presenting or proving the truth in white paper as promised.
Tron's idea of verifying a contract is to link the source code to the smart contract's binary code implementation process. This will help check and verify that the compiled source matches the binary code. The verification process is then authenticated and therefore anyone can view the verified source code on the TRONSCAN browser.
Kyber Network news
The Kyber Network Token is the 52nd-largest cryptocurrency by market capitalization, but it is creating some strong growth waves after listing on Coinbase, the largest cryptocurrency exchange in the United States.
Just a few days ago, KNC was trading within $ 0.5. Kyber price, then surged 65% on the news that Coinbase has added support for tokens on all retail platforms (except for customers based in New York and United Kingdom). Coinbase previously listed Kyber on its Coinbase Pro platform earlier this month.
For now, however, that seems to have ended. The KNC price is on a downward trend, although the token still has a higher price before Coinbase announced the listing.
The Kyber Network (KNC) is the latest recipient of the Coinbase Effect, its price skyrocketing in recent days but now down more than 5 percent.The post Kyb… Read more: https://t.co/8DEW38tvVr
– webnow (@webnowcompany) March 3, 2020
Cryptocurrency, fiat and Uphold trading platforms are partnering with TaxBit to provide customers with tax liability declarations on their user portal, helping customers submit tax returns more accurately. , more reasonable for cryptocurrency investors.
Michelle O'Conner, Uphold's vice president of marketing and communications, said the move was part of an effort to make it easier for the company to reach customers by simplifying the tax declaration process.
Basically, Uphold and TaxBit plan to use the samples 1099-B, often used for investment and expense reporting, instead of the 1099-K form that some exchanges have previously used for their customers.
@UpholdInc has partnered with @TaxBit, to help users file more accurate tax returns. #Crypto https://t.co/FH1SmSKDno
– Winklevoss Capital (@winklevosscap) March 3, 2020
News XAU ₮
Tether Gold is a stablecoin backed by physical gold (XAUT). Its market capitalization has recently increased by more than $ 21 million, thus surpassing other digital assets exposed to investors.
BAM! #tethergold https://t.co/9wg9hD7jUI pic.twitter.com/ZIJV8bDKuW
– Paolo Ardoino (@paoloardoino) March 4, 2020
Tether Gold has now surpassed the nearest coin, PAX Gold, in terms of market capitalization and investor demand.
Paolo Ardoino, CTO at Tether, believes that in the near future, the market capitalization of Tether Gold will reach at least $ 100 million.
New developments of the lawsuit involving Craig Wright
The ongoing lawsuit between David Kleiman, the elder brother of Walter Kleiman, the former business partner of Craig Wright on Bitcoin continues to take a turning point. In a new development, the plaintiffs in the case believe it is necessary to get testimony of a number of key figures, including former nChain CEO Jimmy Nguyen.
Jimmy on the run. And “additional information is uncovered about the partnership's bitcoin holdings”. Interesting developments again in the Kleiman v Wright lawsuit. pic.twitter.com/khCzXmtDLr
– Arthur van Pelt – Dragon Industries (@MyLegacyKit) March 3, 2020
There are more than 7,000 ATM Crypto worldwide
The number of crypto ATMs worldwide has increased to more than 7,000 in 75 countries.
At the present time, CoinATMRadar said There are about 7,039 Crypto ATMs in existence. This number also includes machines that store digital currencies other than Bitcoin, including Bitcoin Cash, Ether, Dash and Litecoin.
Cryptocurrencies will thrive in 2020 as governments struggle to stimulate growth
Coinbase CEO Brian Armstrong believes that the slowing global market will force the central bank to make more radical moves in the coming months. He added that with such moves, capital could likely move into the cryptocurrency market.
According to supporters of cryptocurrencies, lowering interest rates, quantitative easing, and repos have all made this emerging asset class more attractive.
In a Twitter post earlier today, Brian Armstrong stated, he believes that the cryptocurrency market will continue to benefit from such strong fiscal policies as the financial market continues to slow down. in this year.
A down stock market and interest rate cuts may lead to growth in crypto this year. Governments around the world are likely to look to stimulate the economy in any way they can, including using quantitative easing and expanding the money supply (printing money).
– Brian Armstrong (@brian_armstrong) March 3, 2020
Ukrainian taxpayers will now have to report the amount of Crypto held
According to the new document, for the first time report, taxpayers must report the amount of digital assets they hold as an intangible asset, similar to intellectual property rights or a license to exploit natural resources.
The instructions indicate that the cryptocurrency, as defined by the Financial Action Task Force (FATF), is a valuable digital unit that can be traded electronically, transferred, and used. as a means of payment or investment.
To report the amount of cryptocurrency, taxpayers should name the assets they hold (such as Bitcoin, Ether, XRP, etc.) as well as the date of purchase, the amount of ownership on the last day of the tax period. , and the value of Ukrainian national currency holdings (euros) at the exchange rate on the last day of the tax period.
Samsung partnered with Israeli fintech on a blockchain solution for merchants
Samsung SDS, an IT services subsidiary of the South Korean tech giant, has announced a partnership with Israel-based smart and fintech payment service provider, Credorex. Follow report From The Korea Herald, March 4, the two companies will work together to develop a payment platform for European merchants and banks.
Part of the proposed solution will be developed by the Samsung SDS Nexledger Universal blockchain platform and will allow merchants to automatically collate payments, transfers and invoices with their bank records.
This will integrate into a payment platform, built with Samsung SDS-based Brity Works, designed to automate various workflows.
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