Crypto Hardware Wallet Maker Ledger Warns Customers Of Data Breach

Crypto Hardware Wallet Maker Ledger Warns Customers Of Data Breach

By RTTNews Staff Writer | Published: 7/29/2020 10:32 AM ET

Crypto hardware wallet maker Ledger has warned its customers about a data breach on the Ledger website in June and July, which has compromised contact and order details of 9,500 customers as well as 1 million email addresses.

Meanwhile, the company confirmed that payment information, passwords or credentials and crypto funds are safe as the data breach has no link with its hardware wallets or Ledger Live security and crypto assets.

Ledger was informed about a potential data breach on July 14 by a researcher participating in their bounty program. A week after patching the breach, the company came to know about an earlier breach in late June by an unauthorized third party.

This breach had compromised e-commerce and marketing database used to send order confirmations and promotional emails, These consisting mostly of email addresses, but with a subset including also contact and order details such as first and last name, postal address, email address and phone number.

The unauthorized third party had access to a portion of the e-commerce and marketing database through an API Key. The API key has been deactivated and is no longer accessible.

The company said it was able to fix issue immediately after a detailed internal investigation with third party experts as it was limited to ecommerce and marketing contact information.

The company is also actively monitoring online marketplaces for evidence of the stolen database being sold on the internet, but it has found none so far.

Ledger had notified the French Data Protection Authority, CNIL, about the data breach on July 17. It then partnered Orange Cyberdefense on July 21 to assess the potential damages of the data breach and identify potential data breaches.

Following the assessment, it was concluded that the ecommerce and marketing database has been breached. The company said it has already informed all affected customers through an email.

For comments and feedback contact: editorial@rttnews.com

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Bitcoin Retakes 11k Further Reinforcing Analysts Take That 20000 Is In Sight

Bitcoin Retakes $11k — Further Reinforcing Analysts Take That $20,000 Is In Sight

By Adrian Klent – July 28, 2020

At the time of this writing, Bitcoin is trading at a price of $11,026, which was first attained in the last 24hrs. The entire cryptocurrency community, especially Bitcoin users on Twitter have been tweeting tirelessly about the long-awaited price rally.

At present, Bitcoin is among the global Twitter trends with more than 100,000 tweets from the community. Regardless of the constant dips, analysts are still very confident that the big bull will make a crossover, and this is reflected in the live Bitcoin trading chart.

The one-day candlestick chart conveys Bitcoin’s sloppy movement from when Bitcoin hit $10,000 on the 27th of July, at 16:00 (UTC), and crossed over to $10,300. For the next two hours, the bears tested their luck but couldn’t hold strong as the mild bullish reversal steered the rally.

On the 27th of July, Bitcoin crossed the $10,600 and $10,800 resistance levels and hit $11,000. The daily all-time high was at $11,256, a mid dip sent Bitcoin below that price but the $11,000 price range was still maintained up until 8:00 am (UTC).

The momentum was lost shortly after and another dip to $10,700 was witnessed. Since then, the bulls have been struggling to stay afloat but power has been exchanged severally between bulls and bears. While bears’ impulse isn’t strong enough to pull the big bull below the $10,000 price mark, at least within the next few hours, the bulls will need to maintain the $10,500 mark as the minimum support level or Bitcoin might retest previous support. Hitting the $11,500 high could happen anytime soon. The next 24hrs could set Bitcoin in motion for $12,000 or prices could trade within the $11,000 and $10,000 if the market goes sideways.

Meanwhile, analysts are firmly stating that a $20,000 price may be attained sooner than later. As July comes to close, analysts are more bullish than ever. Popular analyst MoonCarl tweeted earlier today saying the bear market was over. If this is the case indeed, Bitcoin may trade above $10,000 through the rest of the year.

The editor at Kraken, Pete Rizzo also said that the ongoing bull run during this time translates to Bitcoin entering an “uncharted territory.”

MoonCarl wrapped up with another bold tweet that is being echoed by many. But whether or not Bitcoin hits $20,000 in the coming months, the bulls are once again largely in control of the market and new all-time highs may be attained from here on out.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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Cellebrite Launches CipherTrace-powered Crypto Tracer Solution

Cellebrite Launches CipherTrace-powered Crypto Tracer Solution

By RTTNews Staff Writer | Published: 7/28/2020 10:17 AM ET

Digital intelligence firm Cellebrite teamed up with blockchain security firm CipherTrace to launch a Crypto Tracer solution to provide investigators with visibility to track illicit cryptocurrency movement by offering cryptocurrency tracing and blockchain analytic capabilities.

The solution will help accelerate investigations involving blockchain technology and cryptocurrency. It will help investigators to lawfully obtain evidence and trace criminals who use bitcoin and other cryptocurrencies for illicit activities, including money laundering, terrorism, drug and human trafficking, weapon sales, and ransomware schemes.

The CipherTrace Inspector-powered solution encompasses powerful and easy-to-use tools, investigation services, and training programs designed for investigators, analysts and non-technical agents. It helps investigators to aggregate and curate millions of open source and private references, deception data and human intelligence, providing full visibility into the lifespan of cryptocurrency transactions.

The graphic mapping and color-coded threat level transactions enhance the visualization and understanding of the activities and accelerate investigators' abilities to pinpoint primary and associated criminal activity and its perpetrators.

It is estimated that about $76 billion of illegal activities involve Bitcoin every year. Also, nearly all darknet market transactions involve cryptocurrencies, due to their ease of transacting online and across borders.

There has been a misconception and has long been assumed that blockchain and cryptocurrency transactions remain untraceable and unknown. The essence of blockchain is to indelibly keep a record of each step of every transaction and this helps to identify illicit blockchain activity by interpreting the data.

The perceived anonymity has encouraged criminals to use cryptocurrencies for illicit activity. All the transactions are recorded on the blockchain, which is a public ledger, enabling anyone to see the transactions, but they cannot see the identities of those executing the transactions.

For comments and feedback contact: editorial@rttnews.com

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Bitcoin Breaks 10K and 3 Weeks Before One BTC Prediction

Bitcoin Breaks $10K and 3 Weeks Before One BTC Prediction

John P. Njui   •   BITCOIN (BTC) NEWS   •   JULY 26, 2020

Quick take:

  • Bitcoin has bulldozed the $10K psychological price level before dropping back to $9,900.
  • This move by Bitcoin had been predicted by Timothy Peterson of Cane Island Alternative Advisors.
  • His prediction had set a mid-August date for Bitcoin breaking $10K.
  • BTC has achieved this feat 3 weeks ahead of schedule.
  • The VISA, Mastercard, Paypal and OCC news could be behind Bitcoin’s bullishness.

Sundays are usually slow days in the crypto markets with many traders expecting sideways movement from Bitcoin (BTC) or a catastrophic dip. However, Bitcoin has done the opposite only moments ago when BTC wicked hard from the $9,700 price level to $10,115 – Binance rate.

With this quick move, Bitcoin has broken the psychological price level of $10,000. However, the King of Crypto has since dropped down to $9,970 as crypto traders attempt to figure out BTC’s next move.

A $10K Bitcoin Had Been Predicted, But by Mid August

The exciting move by Bitcoin above $10,000 had been predicted by Timothy Peterson, an Investment Manager at Cane Island Alternative Advisors. Mr. Peterson had predicted that BTC would retest $10,000 by mid-August. His prediction was based on his use of Metcalfe’s law. He made this prediction on July 1st via the following tweet.

#Bitcoin #10KCountdown is inspired by this price prediction from a popular (but not knowledgeable) bitcoiner. Using Metcalfe's law, I will show how predictable bitcoin's price is (within statistical margins). We're 49 days away. pic.twitter.com/VBnvNzsB0i

— Timothy Peterson (@nsquaredcrypto) July 1, 2020

Metcalfe’s law is usually used in the telecommunications industry and states that the effect of a telecoms network is proportional to the square of the number of connected users of the system. Mr. Perteson has expanded this law to analyze Bitcoin and has even published a research paper about it.

He has since provided a glimpse of how he uses it to calculate Bitcoin’s value via the following tweet only hours ago.

#bitcoin #10KCountdown demonstrating that Metcalfe's Law determines bitcoin's value (and #ethereum, and #chainlink, and #twitter, and #facebook, and #google, and the internet, and #apple…) pic.twitter.com/BH4WsLXrVW

— Timothy Peterson (@nsquaredcrypto) July 26, 2020

What Next for Bitcoin (BTC) in the Crypto Markets?

Bitcoin’s surge above $10K has returned BTC to pre-Covid19 levels last seen in late February. To note is that the CME Bitcoin futures are still paused at Friday’s price of $9,600. Additionally, the CME futures expire this Friday, 31st July. Therefore, judging by past situations where there is a CME gap, Bitcoin will eventually dip down and fill it. To get a feel as to when this might happen, it is worth looking at the daily BTC/USDT chart.


(Click image for larger view)

From the daily Bitcoin chart, the following can be observed.

  • Bitcoin’s price at $9,970 is above the 50-day, 100-day and 200-day moving averages, thus pleading the case for a bullish environment.
  • MACD has crossed in a bullish manner around the baseline pointing that Bitcoin could continue pushing higher to retest $10,115.
  • However, the daily MFI is high at 80 pointing to future sideways movement or a retracement.
  • The mentioned moving averages provide adequate support at $9,300, $9,050 and $8,600 respectively.

Furthermore, Bitcoin could remain in bullish territory as a result of the news of VISA, Mastercard and Paypal planning on supporting crypto transactions. Additionally, the news of US banks being greenlighted to offer crypto custody solutions will provide much-needed fuel for BTC to rebound if it drops to fill the CME gap.

As with all analyses of Bitcoin, stop losses and low leverage are advised when trading BTC during volatile times.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Why Bitcoin Suddenly Spiked to 10200 Instantly Liquidating 75M

Why Bitcoin Suddenly Spiked to $10,200, Instantly Liquidating $75M

The price of Bitcoin abruptly surged to $10,200, as it liquidated $75 million worth of short contracts.


Image courtesy of CoinTelegraph

            JULY 26, 2020

The price of Bitcoin (BTC) rose to as high as $10,272 on July 26 in an unexpected weekend rally. It liquidated $74 million worth of long contracts on BitMEX alone, catching many traders off guard.


The hourly price chart of Bitcoin. Source: TradingView.com (Click image for larger view)

There appear to be two main reasons behind the abrupt upsurge of Bitcoin from $9,700 to over $10,200. They are the liquidation of over-leveraged shorts and traders taking profit from over-extended alternative cryptocurrencies (altcoins).

Profit-taking pattern observed as Bitcoin spikes

When the price started to rally, major altcoins, as well as well-performing DeFi tokens, began to slump. Ethereum declined from $322 to $311, and DeFi tokens, including Aave and YFI, saw steep rejections.


Cryptocurrency market performance July 26. Source: Coin360 (Click image for larger view)

The simultaneous rejections of major altcoins and the price surge of Bitcoin suggest that traders took profit from recent altcoin rallies. As traders moved their altcoin gains to Bitcoin, it possibly triggered a BTC uptrend, while altcoins declined.

ETH, as an example, rose from $247 on July 23 to $322 on the day’s peak, recording a 30% gain. Despite the strong sentiment around altcoins, investors are possibly taking a more cautious approach by hedging their gains.

Massive liquidations of short contracts

When Bitcoin initially broke over $10,000, it triggered over-leveraged short contracts to become liquidated. When BTC reached $10,200, it caused a cascade of liquidations to occur, totaling $74 million.

Bitcoin has seen many phases when more than $50 million worth of short or long contracts gets liquidated. But for this to occur within a span of a few hours is less typical.

The mass liquidations of long contracts at $10,000 also suggest that the $10,000 to $10,200 remains as a heavy resistance area. As soon as BTC hit $10,200, the price dropped below $10,000, marking a short-lived rally.

Investors express optimism over BTC’s near-term price trend

As the price of Bitcoin recovered strongly in recent weeks, some industry executives and investors expressed optimism toward BTC and ETH.

“Are you ready?” Grayscale CEO Barry Silbert tweeted when Ether price broke out of the dreaded $280 resistance level on July 25.

Well-known trader Peter Brandt, meanwhile, expects the price of Bitcoin to hit a new record high and eventually make its way to $50,000. He said:

“That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k.”

But some variables could affect the short-term price trend of BTC price. First, the funding rate of Bitcoin is projected to be over 0.04% on BitMEX. That is nearly four times higher than the average funding rate of 0.01%. It signifies that the majority of the market is taking long positions.

For Ethereum’s ETH token, the funding rate is hovering at over 0.1%, which suggests the rally is beginning to get overheated. In February, ETH’s price rejected at $280 as its funding rate surpassed 0.2%, and when the overwhelming majority of the market was longing the asset.

Second, $10,000 has acted as a key psychological level for Bitcoin since October 2019. If BTC rejects at $10,200, it would still be lower than the previous peak in February 2020 at $10,473.

Although it would be far-fetched to call it a lower high formation, it might show that BTC price has not cleanly broken out of the multi-month range.

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Original article posted on the CoinTelegraph.com site, by Joseph Young.

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World Stablecoin Association Launched For Cryptocurrency Community

World Stablecoin Association Launched For Cryptocurrency Community

By RTTNews Staff Writer | Published: 7/24/2020 10:23 AM ET

A consortium of cryptocurrency firms have teamed up to launch the World Stablecoin Association (WSA) with the aim to promote global development of stablecoins and actively engage in the advocacy of digital currencies.

Stablecoin focused digital asset trading platform VirgoX and blockchain capital markets firm Global Digital Assets (GDA Capital) are the founding members of the WSA.

Geneva- headquartered WSA is an independent, not for profit organization with a mission to unite business leaders, enterprises, community buildings and regulators in the global stablecoin industry.

The WSA membership will also be open to enterprises, government agencies and other active companies adding value to and advocating for stablecoins.

Other members of the WSA include leading global stablecoin projects such as BRZ, CBRL, Peg Network, QCAD, QC, Ren, Stably, USDK, XDB and capital groups such as Alpha Sigma Capital, Consensus Labs, Nova Club and BlockGeeks, whose CEO Ameer Rosic is also on the WSA steering committee.

According to reports, the WSA is already in talks with leading stablecoin projects such as Tether (UDST), USD Coin (USDC), Dai (DAI), and HUSD and they are all expected to join the WSA by the end of 2020.

The WSA has four pillars including policy analysis, education, partnerships and advocacy, with each member organization having at least one executive participating in at least one of the initiatives.

The policy analysis committee will join forces with other research institutions, think tanks and associations to analyze the global regulatory and economic landscape of stablecoins.

The education committee will publish educational material and arrange offline meetups and conferences including an annual World Stablecoin Summit each year in Switzerland.

The partnerships committee will leverage relationships across industry verticals to support members in forming meaningful global alliances and the advocacy committee will accelerate the stablecoin policy making process.

According to market intelligence firm TokenAnalyst, the use and demand for stablecoins have been growing exponentially over the past few years with an increase in on-chain stablecoin activities of 800 percent in the last 12 months alone with $290 billion in transactions.

The total daily trading volume of stablecoins is now the largest of any digital asset on the market today and the total market capitalization of all stablecoins is now third, ahead of Ripple and behind Bitcoin and Ethereum.

With the increase in adoption of stablecoins, the WSA will act as a neutral voice that represents the global stablecoin industry. The majority of the world will not hold their wealth or transact in bitcoin or any digital asset that is extremely volatile as it presents too much risk. This is where stablecoins are useful.

For comments and feedback contact: editorial@rttnews.com

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4 Additional Projects Integrate ChainLink LINK Technology This Week

4 Additional Projects Integrate ChainLink (LINK) Technology This Week

John P. Njui   •   CHAINLINK (LINK) NEWS   •   July 23, 2020

Quick summary:

Quick summary:

  • The ChainLink (LINK) team continues to seal partnerships on a weekly basis.
  • This week, 4 projects have integrated LINK technology.
  • The continual growth of the ChainLink ecosystem translates to real-life use cases.
  • LINK’s value stands to benefit from the continual growth.

This week, ChainLink technology has been successfully integrated into four projects.

To start, Reflexer has successfully integrated ChainLink’s ETH/USD price reference to power the RAI testnet bond, also known as a Generalized Ethereum Bond. Secondly, ChainLink’s ENJ/ETH price reference feed is live on the LINK mainnet and gaming developers can use the information when minting or exchanging Enjin based digital assets.

Thirdly, T-Systems has joined the ChainLink ecosystem and will be helping to secure ChainLink’s oracle network. T-Systems also facilitates real-world adoption and advancement of blockchain technology. Fourthly, FirmaChain is integrating ChainLink technology to create more seamless digital contracts.

ChainLink Real-Life Use Cases Continue to Grow

Such feats of projects continually integrating and leveraging ChainLink technology prove that the adoption of LINK technology is the driving force behind the digital asset’s growth in the crypto markets. The onboarding of crypto and blockchain projects into the ChainLink ecosystem is a continual process with multiple projects doing so on a regular basis. The aforementioned four projects join a long list of others that are either using ChainLink’s oracles networks, smart contracts and additional features.

Impact of ChainLink Adoption on LINK’s Price

As earlier mentioned, the adoption of the ChainLink network and the high transaction activity related to LINK have driven the price of the digital asset to new heights.

From the month of June, LINK has dominated the crypto markets and eventually setting an all-time high of $8.92 a few days ago. A quick glance at the 6-hour LINK/USDT chart reveals that the digital asset has recovered from what seemed like a correction pointing towards sub $7 levels. At the time of writing this, LINK is trading at $7.85.


(Click image for larger view)

Additionally, the bullish momentum in the crypto markets brought about by the OCC greenlighting US banks to offer crypto custody solutions to their costumers might provide additional fuel for LINK to retest the $8 resistance level in the hours or days to come.

As with all technical analyses of LINK, traders and investors are advised to use stop losses and to keep an eye out for news that might affect their trading positions.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Altcoins to the Moon as Ethereum and Chainlink Lead Bull Rally

Altcoins to the Moon as Ethereum and Chainlink Lead Bull Rally

By Adrian Klent – July 23, 2020

As opposed to analysts’ speculations, the Altcoin season is just getting started. It’s important to not discard the speculations regardless, as Bitcoin’s stability within the $9,000 zone gives altcoins the leverage to rake up gains smoothly.

If Bitcoin makes a bullish move within this time period, altcoins may suffer losses and the altcoin season just might come to an end. But maybe not within the next 24hrs, as the previous 24hrs have seen altcoins like ETH and Link perform quite impressively. The two altcoins hold the spots for the second and ninth-largest cryptocurrency respectively, by market capitalization.

Ethereum Price Performance

The one day live Ethereum trading chart reflects a brewing bull run, but analysts prefer to call it a price pump at the moment. At around 9:00 UTC, Ethereum started off with a trading price that was seated around the $240 range.


ETHUSD Chart By TradingView (Click image for larger view)

At around 6:00 pm UTC, ETH made an intense bullish crossover, surpassing the $250 resistance levels and attained gains of 9.7% when it hit $269, the highest price seen since February. At the time of this writing, the altcoin has maintained a bullish momentum and is aiming for the $300 mark as it trades at $263. The price pump comes after Ethereum developers confirmed that the final testnet before the Ethereum 2.0 update will launch on the 4th of August. On the 30th of July, the Ethereum network will also celebrate its fifth year anniversary.

Both events are expected to cause yet another frenzy in the market. The former is expected to push prices even higher as the network capacity becomes stronger.

The locked value in Ethereum has also surged as DeFi’s total locked value has continued to soar. At this time, statistics are showing that the locked value of ETH surged from 2.5 million to 4 million in the last 7 days.

Chainlink (Link) Price Performance

Chainlink has also topped the list of best performing altcoins in the month of July and is slowly becoming a favorite altcoin among Altcoin traders. At present, Link is up by 8.34%. Both its current trading price of $7.89 and a market cap of $2.76 billion are well-positioned for a bull run.


ETHUSD Chart By TradingView (Click image for larger view)

If this happens, Link could switch spots with Litecoin to become the 8th most valued Cryptocurrency. When prices break barriers to hit $8, then the highly anticipated $10 mark may be attained before the close of 2020. The general factor affecting Link’s performance is in ChainLink’s fundamental use case. While the altcoin rally could be halted at any point in time, there is a valid reason to believe that DeFi is indeed here to stay.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Adrian Klent and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Binance Launches ChainLink LINK Quarterly Futures Before Ethereum’s

Binance Launches ChainLink (LINK) Quarterly Futures, Before Ethereum’s

LINK quarterly futures have been launched on Binance before Ethereum's.

John P. Njui   •   CHAINLINK (LINK) NEWS • BINANCE (BNB) NEWS   •   JULY 21, 2020

Summary:

  • The popularity of ChainLink has resulted in Binance launching a quarterly LINK Futures contract.
  • LINK quarterly futures have been listed before the Ethereum’s.
  • This move shows that ChainLink (LINK) is a fan favorite for crypto traders.
  • LINK had earlier dropped below $7 and is now trading at $7.63.

The crypto exchange of Binance has announced that it will be launching ChainLink (LINK) a quarterly futures contract. Trading of the contract will commence tomorrow, July 22nd, at 7 am UTC. Traders can use a maximum of 75x leverage once the LINK quarterly futures contract goes live. The LINK quarterly contract will expire September 25th, 2020.

One fact that stands out is that the LINK based quarterly contract has been launched before an Ethereum one on the exchange. At the time of writing this, there are quarterly contracts for two digital assets: Bitcoin (BTC) and Cardano (ADA). A LINK based quarterly contract becomes the third.

ChainLink’s High Trade Volume Could be Why a LINK Quarterly Contract was Offered before Ethereum’s

The popularity of ChainLink (LINK) amongst crypto traders could be one reason that Binance chose to list its quarterly contract before that of Ethereum. Last week, LINK’s daily trade volume briefly eclipsed that of Ethereum particularly around the time ChainLink hit its new all-time high value of $8.92.

LINK Continues to Shake Off Malicious Zeus Capital Report

LINK’s daily trade volume is still high despite the emergence of last week’s malicious report by Zeus-Capital that claimed that the ChainLink project was pure vaporware. The report also predicted that ChainLink’s value in the crypto markets would eventually fall by 99% to $0.07.

However, crypto twitter has since debunked the report which has been pulled down from the Zeus-Capital website. At the time of writing this, the malicious report has been linked to another crypto project as seen in the following tweet.

Brief Technical Analysis of LINK/USDT


(Click image for larger view)

LINK has benefited positively from Bitcoin’s surge above $9,300. A brief look at the 6-hour LINK/USDT chart reveals that the digital asset experienced a bounce around the 50 MA. However, LINK/USDT still looks like it is in the midst of a pullback due to the impressive push earlier this month to its new all-time high of $8.92.

Therefore, placing a long on LINK at its current value of $7.63 might be a gamble given the fact that LINK is not as influenced by Bitcoin’s price action. This is the reason LINK was pumping in the markets despite Bitcoin being relatively flat. Therefore, caution is advised when trading LINK as Bitcoin pumps.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

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French Central Bank To Pilot Central Bank Digital Currency

French Central Bank To Pilot Central Bank Digital Currency

By RTTNews Staff Writer | Published: 7/21/2020 10:19 AM ET

The French Central Bank is set to pilot the integration of central bank digital currency (CBDC) for interbank settlements after it selected eight candidates to participate in the experiment.

The selected candidates are Societe Generale, HSBC, Iznes, ProsperUS, Euroclear and Accenture as well as small time crypto-startups such as Seba Bank and LiquidShare.

Since the beginning of 2020, Banque de France had begun the process of experimenting with CDBC. It now aims to explore with partners the potential contributions of new technologies to improve the functioning of financial markets and more particularly interbank settlements.

To initiate the project, Banque de France successfully tested in mid-May the use of a blockchain developed by its teams to experiment with the use of a CDBC to settle a digital financial securities issue by Société Générale Forge.

Further experiments will now be carried out by the Banque de France in cooperation with the selected eight participants to test the use of a digital central bank euro in interbank settlements.

The experiments will focus on exploring new methods of exchanging financial instruments (excluding crypto-assets) for central bank money. It will also test the regulation in digital central bank money in order to improve the conditions of execution of cross-border payments and revisit the methods of making central bank money available.

The strong response to the call for applications for the experiments from finance and technology companies shows the interest in exploring the potential contributions of a digital euro issued by the central bank to improve the functioning of the financial markets, in particular interbank settlements.

The French central bank will start working with each of the eight firms over the next couple of days in order to carry out the experiments over the coming months. The digital euro is not expected for general consumer purposes, but only for interbank transactions.

For comments and feedback contact: editorial@rttnews.com

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