Month: July 2020

Central banks worldwide have injected further stimulus into the economy, as European Union (EU) leaders recently approved a $2.1 trillion budget, the Bank of England boosted stimulus injections in mid-June, and the Federal Reserve announced on Wednesday that it would keep lending until the end of the year. Meanwhile, bank indexes show that financial institutions based in the UK, Japan, and the EU are about to break support levels that have held up since the mid-eighties. The global economy looks bleak and the world’s central banks are trying really hard…

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Crypto startup Diginex has launched a cryptocurrency exchange ahead of its Nasdaq listing which has already been approved by the U.S. Securities and Exchange Commission (SEC). The new exchange is based in Singapore where Diginex has applied for a license. Diginex Set to List on Nasdaq A cryptocurrency exchange operator, Diginex, is set to list on the Nasdaq exchange in September, Diginex CEO Richard Byworth confirmed to Reuters on Wednesday. The listing is expected to be made through a $300 million reverse merger with the acquisition of 8i Enterprises Acquisition…

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The number of bitcoin held on exchanges has touched a 12-month low, as bitcoin exchange balances have reached levels not seen since June 2019. According to onchain statistics, there’s more than 2.6 million BTC held on global trading platforms worldwide. Data from a number of sources show that the bitcoin (BTC) held on exchanges has dropped to a low not seen in over a year. This statistic gives crypto proponents bullish optimism, as the last time BTC exchange balances were this low the price of bitcoin (BTC) jumped very close…

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U.S. investment bank Oppenheimer’s analyst says gold is “extended” and has “run up a bit,” bringing attention to bitcoin instead. He sees the cryptocurrency reversing its downtrend from the $20K peak, benefiting from the dollar’s weakness. Oppenheimer Analyst on Bitcoin vs Gold Ari Wald, head of technical analysis at Oppenheimer, a major American investment bank and financial services company, “highlighted” bitcoin this week on CNBC’s program Trading Nation entitled “Gold vs. Bitcoin.” He explained: “We’ve been recommending gold as a way to play the expansion of the Fed’s balance sheet…

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Indian cryptocurrency exchange Zebpay is launching an OTC bitcoin trading desk. The exchange has shared the details with news.Bitcoin.com, stating that “There is huge demand” among bitcoin traders and arbitrageurs in India for OTC desk services. Zebpay Sees Huge Demand for OTC Crypto Trading in India Zebpay’s OTC desk offers “deeper liquidity and private, more personalized service to institutions and individuals with large orders that might be hard to fill on an open exchange,” the exchange’s OTC page details. Customers can trade BTC against INR with a minimum order size…

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While movie theaters may be unusually empty this time of the year, a different kind of summer blockbuster is coming soon, one that promises to bring back the exhilaration of competitive crypto trading with up to 200 bitcoins (BTC) prize pool, up to 20% off trading fees and up to $9,400 in USDT bonuses. A Blockbuster Competitive Crypto Trading Tournament Crypto derivatives exchange Bybit announced today the World Series of Trading (WSOT) launch, a bi-annual global crypto trading competition. The inaugural edition of the tournament will feature a prize pool…

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Tether Ltd printed a total of USDT 300 million Wednesday and this brought the total coins created to 540 million in the last three days alone. The latest USDT printing will see the top stablecoin’s market capitalization significantly passing the $10 billion mark. Responding to a whale alert twitter post, however, Paolo Ardoino the CTO at Bitfinex, explains that the latest printing is for purposes of replenishing inventory on the Tron Network. “Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory…

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The decentralized finance (defi) realm continues to heat up with concepts like yield farming, but another scheme called defi flash loans has also grown exponential. On Monday, the noncustodial lending protocol Aave issued $138 million in loans with zero collateral. Since the last week of June, defi flash loans have increased by 809% as the protocol Aave is issuing anywhere between $80-100 million in flash loans per day. Data shows that Aave issued over $138 million on Monday and the pace continues to trend higher. The word “Aave” is a…

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Just a few days prior to the Bitcoin Cash anniversary, BCH fans found out that the Cashfusion audit from Kudelski Security is now complete. Electron Cash engineer Jonald Fyookball announced the audit was finished and said the protocol “passed, mostly with flying colors.” Last February it was announced that Bitcoin.com would host a fundraiser for the Cashfusion team in order to raise $100,000. $50k worth of the money went toward an audit from the firm Kudelski Security, and the rest of the funds went toward developer expenses. For every BCH…

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A resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading. A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing with cryptocurrency exchanges. The ban was imposed by the Reserve Bank of India (RBI) in April 2018. Nischal Shetty, founder and CEO of Wazirx, a cryptocurrency exchange in India, says they are witnessing a renewed excitement. Shetty said bitcoin’s price, which breached the $11,000 mark…

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