Why Ethereum’s competitors might have a slim shot at taking the crown

These are bullish times for Ethereum and its growing community. After all, why would anyone expect anything else? A week after the deposit contract was finally filled with a few hours to spare, the much-anticipated genesis block of the Ethereum 2.0 beacon chain was launched on 1 December. The said development came as a relief […]

The post Why Ethereum’s competitors might have a slim shot at taking the crown appeared first on AMBCrypto.

ETH Held By the Top 10 Ethereum Whales Drops from 16.4% to 4.5%

ETH Held By the Top 10 Ethereum Whales Drops from 16.4% to 4.5% 4

Quick take:

  • The amount of Ethereum held by the top 10 ETH whales has dropped from 16.4% of the total supply to 4.5% in one month
  • This is a case of redistribution as more ETH addresses are created
  • Whales transferring their ETH to ETH2.0 explains the redistribution further
  • Ethereum is once again battling to reclaim $600

The amount of Ethereum held by the top 10 ETH whales has seen a drastic drop in the last one month. According to data from the team at Santiment, in the last 30 days, the amount of Ethereum held by the same whales has dropped from 14.5% of the total ETH supply to 4.5%. The team at Santiment further explained that the drop in whale holdings is a sign of clear redistribution of ETH as new addresses have been created.

Below is a chart by Santiment demonstrating the drop in ETH holdings by the top 10 whales.

ETH Held By the Top 10 Ethereum Whales Drops from 16.4% to 4.5% 3

Whales Transfering their ETH to ETH2.0 Further Explains the Redistribution

The redistribution of Ethereum from the top 10 ETH whales is as a result of the same whales sending their funds to the ETH2.0 staking contract. The team at Santiment further elaborated on this as follows.

In this case, it’s more attributed to #ETH2 deposit contract moving to a new address. So this is certainly more of an anomaly than any whale activity we typically report on.

The decline is undoubtedly caused by #ETH2 deposit contracts being moved to new addresses.

Ethereum Still Attempting to Reclaim $600

Since early November, the price of Ethereum has benefited positively from the news and events surrounding the launch of ETH2.0. At the beginning of last month, Ethereum was trading at approximately $400 only to rise to $633 on the day of the launch – December 1st- of the Beacon Chain phase of the upgrade.

At the time of writing, Ethereum is trading at $590. With the weekend up ahead, Ethereum could attempt to close the week above $600. Such a scenario would be very bullish and would open the doors to higher levels such as $750.

However, as with all altcoins, Ethereum’s fate is tied to that of Bitcoin and the King of Crypto looks set to begin on what looks like a correction. A drop by BTC will consequently affect Ethereum’s short term plans of breaking $600.

Synthetix’s sUSD listed on Binance’s Innovation Zone

Synthetix has been a prominent project in decentralized finance [DeFi] that allows derivatives trading. Its synthetic stablecoin asset, sUSD tracked the value of the USD Dollar and has also been experiencing a high demand on lending platforms, as noted by Synthetix. Looking at the rise in demand for sUSD [SUSD], Binance has announced to add […]

The post Synthetix’s sUSD listed on Binance’s Innovation Zone appeared first on AMBCrypto.

Chrysalis update — December 4

Chrysalis update — December 4

Published weekly as a summary of Chrysalis phase 2 updates. Please click here if you want to read the full monthly dev status update.

IOTA 1.5

IOTA 1.5 (also known as Chrysalis) is the mainnet’s intermediate stage before Coordicide is complete. You can read more about the strategy for releasing Chrysalis here.

The Chrysalis phase 1 components were deployed to mainnet in August. The engineering team is now working on Chrysalis phase 2.

This week’s updates and status


  • This week, the Bee team performed a special live session where they demonstrated running the Bee node on a private Chrysalis testnet, connecting to Hornet nodes and synchronizing.
  • The team is fixing and updating pieces across network, ledger state, tangle storage, and API implementations.
  • The new API is close to being fully implemented, with a few bits of the message sending API ongoing. Changes to the API in both Bee and Hornet are still expected throughout the testing phase of Chrysalis.
  • Moving crates to the main Bee repository is ongoing.


  • The Delta snapshots functionality has been merged.
  • Added bech32 encoding to the REST API.
  • Progressing on configuration and set up of the public Chrysalis testnet.

Iota.rs and wallet.rs

Our Rust implementation of standard client library and wallet functionalities

  • Fixing outstanding issues on the wallet.rs side, for example a timeout when sending tokens with neon bindings.
  • Wallet.rs is undergoing internal testing.
  • Neon bindings for iota.rs have been merged.
  • Adjusting the libs to breaking changes in node API.

Crypto.rs and Stronghold

Crypto.rs is a crate for all cryptographic algorithms used by many of the projects at IF. Stronghold is a secure software implementation for safe digital secrets isolation.

  • bip32 path and slip10 derivation are being vetted within stronghold, will promote to crypto.rs soon.
  • Audit for crypto.rs is outstanding.
  • The top-level client interface in Stronghold is finished and is now being adapted to the needs of wallet.rs
  • Crypto.rs assets are integrated where available.
  • Performance gains in Stronghold snapshotting have been identified.
  • The aim is to finish everything required for the wallet integration by the end of this week.


Chrysalis phase 2 will come with a new wallet implementation that replaces Trinity.

  • We have published a post to start educating people and making them aware of our upcoming next-generation wallet, Firefly, and its future.
  • Work continues on hooking all the components and dependencies together, fixing issues as they are found in underlying libraries, and more.
  • The current plan is to launch the first rounds of alpha testing in the upcoming weeks, with an audit starting in early January.


We are now in a phase of testing Chrysalis functionality on a private testnet. We are working on bringing all the necessary bits and pieces for making the testnet public together. This includes:

  • The CLI wallet — done.
  • New faucet — close to being done, will be deployed soon,
  • Complete infrastructure, which we have been working on with the Hornet team.
  • Node software stabilized — breaking changes will still be part of the testnet.
  • Wallet.rs with JS bindings — done
  • Iota.rs with JS bindings — done

Once all the pieces have come together, we will publish them as the first version of our public Chrysalis testnet, stay tuned!


A large part of the Chrysalis phase 2 effort is auditing the new functionality. We have booked the relevant availability with multiple external auditing firms for the upcoming weeks to start auditing the different components as soon as possible.

As always, we welcome everyone to stop by on Discord — every project mentioned here has a channel (or more) for discussion with the devs!

Follow us on Twitter to keep track of all the latest news: https://twitter.com/iotatoken

Chrysalis update — December 4 was originally published in IOTA on Medium, where people are continuing the conversation by highlighting and responding to this story.

This article was originally published on the: IOTA Blog on 

The post Chrysalis update — December 4 appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

Crypto-Keen Chinese Giant-Owned 200 YO Bank Lures BTC-Hungry Rich Investors

More than 200-year-old German lender Hauck & Aufhäuser (H&A), owned by the crypto-keen Chinese conglomerate Fosun, about to offer a new product to high-net-worth individuals and professional investors, looking to invest in cryptoassets. The bank said it is teaming up with the Berlin-based fintech Kapilendo to open a new crypto fund in January. The HAIC Digital

DeFi and Eth 2.0 are whole new convos for regulators, says SEC’s Hester Peirce

United States SEC Commissioner Hester Peirce wants to focus on new guidance for DeFi and future Ethereum projects

Hester Peirce, commissioner for the United States Securities and Exchange Commission, explained during an exclusive interview with Cointelegraph that decentralized finance, also known as DeFi, has created new challenges for the SEC. 

Peirce, nicknamed “Crypto Mom” for her interest in digital asset innovation, mentioned that the quickly rising DeFi sector has resulted in a number of unresolved legal issues:

"DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually been much faster. I also think that the legal issues are more difficult to sort out on the DeFi side.”

Although Peirce shared that regulations around DeFi projects may fall outside of the SEC’s purview, some of these projects will likely touch on securities laws. To Peirce’s point, John Whelan — Santander Bank managing director and chair of the Enterprise Ethereum Alliance — told Cointelegraph that, from a financial perspective, DeFi has the potential to enable autonomous programmable digital securities in the future.

However, this remains a long-term goal, as most DeFi offerings consist of tokens that lack liquidity and are used to fund blockchain projects. Still, Peirce advised caution to those involved in the DeFi space. During a fireside chat with Whelan for the 'Ethereum in the Enterprise — Asia Pacific' online conference, Peirce mentioned that the crypto community must be cautious when building DeFi projects:

“I caution people to think about what they’re building, and to think about whether it looks like the traditional security. If it does, talk to the SEC because individuals can really get in trouble if they develop one of these things. That would be my advice.”

DeFi challenges SEC by taking away intermediaries

In addition to legal hurdles, Peirce pointed out that the goal behind decentralized finance is removing third-party intermediaries, such as banks and exchanges.

However, Peirce mentioned that the SEC depends on these intermediaries. “Our whole rulebook is built around the notion that you've got these intermediaries. So when you take them out of the picture our job as regulators becomes very difficult,” she said.

Not only does this pose a challenge for the SEC, but the lack of intermediaries in DeFi may be to blame for the numerous hacks and fraudulent activities in the space. A report published by blockchain intelligence firm CipherTrace shows that 45% of all cryptocurrency related hacks during the first half of 2020 targeted DeFi projects. Moreover, intermediaries must be present in order for DeFi applications to be leveraged by institutions and businesses.

Yet Peirce touched on the notion that the financial industry’s lack of innovation is partly due to regulatory barriers. In her fireside chat with Whelan, Peirce explained that regulatory barriers protect traditional financial institutions from competition, something that she is trying to change. “I want to see what happens when you have a really truly competitive playing field,” Peirce said.

Eth 2.0 brings back case for Safe Harbor Framework

DeFi concerns aside, Pierce seems optimistic about the recent launch of the Ethereum 2.0 Beacon Chain, which will surely bring about new projects within the Ethereum community.

Given new developments in the Ethereum network, Peirce explained that her proposed Safe Harbor framework for blockchain projects will likely develop further. She first announced the proposal in August 2019 and outlined it further in February at the International Blockchain Congress in Chicago. In a nutshell, the Safe Harbor proposal would grant network developers a three-year grace period to build decentralized projects without worrying about SEC legal action, provided they meet a basic reporting standard at the beginning of that time.

According to Pierce, she is currently working on version 2.0 of the Safe Harbor framework, yet doesn’t expect the proposal to be ready anytime soon. The commissioner noted that “it may be slower to come out than the launch of Ethereum 2.0.”

Although this is the case, Pierce recognized that Ethereum 2.0 is evidence that there is still indeed a case for the Safe Harbor framework. She further shared hopes that the new SEC chairman will want to work on issues related to digital asset innovation.

Of course, Ethereum 2.0 could also present new challenges for the SEC as well. Whelan pointed out that from a technical perspective, the move away from the probabilistic settlement of a proof-of-work consensus mechanism to the deterministic settlement of proof-of-stake might solve technical challenges while prompting new legal questions for the SEC. Whelan said:

“Ethereum 2.0 has settlement finality built in, meaning after some time the update in the blockchain is final and cannot be revisited. This speaks to questions that come up in legal terms, though.”

Peirce said that she hadn’t considered this before. “I think this is a great point. We want that moment when things are done of course, but i have to think more about what this could mean,” she remarked.

Moving forward with an exchange-traded product based on Bitcoin or Ethereum

With the rise of DeFi quickly taking over the crypto space, Peirce mentioned that moving forward the SEC should provide guidance around decentralized finance:

“We have brought enforcement actions and I think we'll continue to bring enforcement actions. The bigger concern, from my perspective, is we have to go after fraud that's clear. We have to go after people who violate the rules but I think that until we develop a framework that provides guidance, it's, it's really problematic to take an enforcement-first approach.”

Another “pressing issue” Peirce pointed out is the need to provide relief around custody for broker dealers and investment advisers. This is important, as the SEC and the Financial Industry Regulatory Authority outlined a claim in July 2019 saying that a crypto custody service may not be able to sufficiently demonstrate that it actually controls the assets it purports to hold.

Even more interesting is that the SEC may eventually move forward on an exchange-traded product based on Bitcoin or Ethereum. While Peirce mentioned this, she also noted that progress has been disappointing.

Sell Signals Abound as Stellar Lumens Prepares 20% Correction

Stellar has been trading flat since its price skyrocketed by more than 190% in mid-November. Now, technicals suggest a steep 20% correction is underway.

Stellar Bound for Bearish Impulse

Stellar’s recent price action led to the creation of a descending triangle over the past week. A horizontal support wall developed along with the swing-lows within the 4-hour chart, while a declining trendline was created along with the swing-highs.

A spike in selling pressure at the current price levels could be significant enough to push this altcoin below its underlying support at $0.175.

Slicing through this hurdle would likely see XLM take a 20% nosedive towards $0.14.

This target is determined by measuring the distance between the widest range of the triangle and adding it to the breakout point.

Stellar US dollar price chart
XLM/USD on TradingView

The parabolic stop and reverse, or “SAR,” adds credence to the pessimistic outlook. This trend-following indicator anticipates that Stellar’s uptrend has reached exhaustion within the same time frame.

Each time the stop and reversal points move above an asset’s price, it is considered bearish. Thus, the recent flip indicates that XLM’s trend has changed from bullish to bearish.

The stop and reversal system has been highly effective in determining the course of this cryptocurrency. The parabolic SAR’s last two times flipped from bullish to bearish within the 4-hour chart, XLM’s price dropped by 10% and 30%.

Stellar US dollar price chart
XLM/USD on TradingView

Given the historical moment that the market is going through, waiting for confirmation before entering a short trade is a must since it will help reduce risks.

A 4-hour candlestick close below 50-four-hour exponential moving average will validate the bearish thesis. If this were to happen, the 200-four-hour exponential moving average might be able to keep falling prices at bay.

Coincidentally, this support level sits around the target provided by the descending triangle previously mentioned, at $0.14.

Stellar US dollar price chart
XLM/USD on TradingView

Even though the odds favor the bears, everything will depend on whether Stellar can close below the 50-four-hour exponential moving average. Failing to do so will jeopardize the pessimistic view and lead to further gains.

If buy orders begin to pile up, XLM may even shoot up towards the $0.22 resistance level instead.

Argo Reports 23% Monthly Revenue Increase, With 2,369 Bitcoin Mined Since January

Bitcoin miner Argo Blockchain reported Thursday that revenue climbed 23% to £1.48 million ($1.98 million) in November compared to £1.2 million ($1.6 million) the previous month.

● The London Stock Exchange-listed firm mined less bitcoin (BTC) in November (115 BTC) than it did in October (126 BTC) “due to changes in mining difficulty”, but bitcoin’s surging prices helped push revenue higher.

● The price of bitcoin soared more than 50% last month to a new all-time high of $19,864 reached on Nov. 30.

● Altogether, Argo has extracted a total of 2,369 BTC year-to-date, worth around $45.7 million at existing prices. As at the end of October, the company held the equivalent of 178 bitcoins in reserve.

● Peter Wall, chief executive officer of Argo, said mining margin averaged 57% for the month in review, up from 40% in October.

● “We are continuing to prioritize efficiency in our mining operations and this has enabled us to increase our revenue by 23% last month [November] and achieve our highest mining margin since the halving earlier this year,” he said, in a monthly update shared with news.Bitcoin.com.

● London-based Argo operates 16,000 bitcoin mining rigs located throughout North America, with a capacity of 645 petahash per second (PH/s) in bitcoin mining hashrate. The company also mines privacy coin zcash (ZEC) and claims to operate 5% of the global ZEC hashpower total.

● Shares of Argo Blockchain are down 1.4% to £10.94 ($14.65) in London trading on Thursday afternoon.

What do you think about Argo’s improving revenue versus declining bitcoin production? Let us know in the comments section below.

The post Argo Reports 23% Monthly Revenue Increase, With 2,369 Bitcoin Mined Since January appeared first on Bitcoin News.

Cardano, BAT, Dash Price Analysis: 04 December

The past few days have been understandably bullish for the crypto-market. Not only did Bitcoin, the world’s largest cryptocurrency, climb to a new ATH on certain exchanges, but the past week also saw the launch of Ethereum 2.0’s beacon chain with its genesis block. The rest of the market’s altcoins, as expected, reciprocated, with many […]

The post Cardano, BAT, Dash Price Analysis: 04 December appeared first on AMBCrypto.

Yes, XRP community can force the burning of billions of XRP

Chief Technology Officer at Ripple and XRP Ledger architect David Schwartz said that XRP community could force the burning of billions of XRP in holding.  Recently, a Twitter user asked Schwartz whether the nodes, validators, and community members of XRP Ledger could burn more than 50 billion XRP in escrow. In a tweet, published on […]

The post Yes, XRP community can force the burning of billions of XRP appeared first on AMBCrypto.

OCC Head: Nobody Will Ban Bitcoin – Good News Are Coming By The End Of Trump’s Term

Brian Brooks, the acting Comptroller of the Currency, believes that the United States needs to establish clear and straightforward cryptocurrency regulations.

  • CryptoPotato reported recently that Coinbase’s CEO Brian Armstrong had sent a letter to the US Treasury Secretary Steven Mnuchin regarding rumors of new regulations on various cryptocurrency features that could harm the industry’s development in the country. 
  • Brooks, despite being the head of a different US organization, responded to these assumptions while appearing on CNBC’s Squawk Box.
Acting Comptroller of the Currency Brian Brooks. Source: CNBC
Acting Comptroller of the Currency Brian Brooks. Source: CNBC
  • He said that his organization is “very focused to get this [regulation] right, we are very focused on not killing this [bitcoin].” He highlighted the need for a clear framework behind bitcoin and other digital assets to minimize any usage for illicit activities, such as money-laundering.
  • Directly answering a question if new regulations are indeed coming by the end of Trump’s presidential term in January 2021, Brooks said that “I think you are going to see a lot of good news for crypto by the end of the term.”
  • At the same time, OCC’s head further said that “it’s a dangerous world out there,” which requires a firm hand to handle the potential threats and challenges.
  • Ultimately, Brooks ended on a positive note, saying that “nobody is going to ban bitcoin, nobody is going to ban some of these transmission technologies. I think it’s going to be a lot less bad than people worry about.” 

Featured Image Courtesy of Forbes

Editorial: Bitcoin Adoption Faster Than Internet and Mobile Phones


Bitcoin in 2020 is proving to be a true hedge against inflation as more mainstream financial giants are coming out in support of the top cryptocurrency and making it available to their clients. Many financial pundits and critics alike believe that bitcoin has finally arrived on the mainstream financial front. While the 2017 bull run was carried by retailers and speculation, the 2020 bull run is being moved by the institutional interest and growing adoption.

The adoption curve of bitcoin in fact has left all other major global technology infrastructure rollouts such as mobile phones and even the internet. Willy Woo a crypto analyst and bitcoin proponent on Twitter highlighted the growing bitcoin adoption and believes if the adoption rate of the top cryptocurrency continues to rise as per its current rate, within 4 years 30% of the world population would own bitcoin.

Surprising fact: Assuming the Bitcoin adoption rate continues its present 2.2x per year “Moore’s Law” of growth (which it has for 10 years so far), then 30% of the world population will own Bitcoin in 4 years’ time.

The adoption curve here onward is expected to rise faster given the entrance of mainstream players such as PayPal and S&P Dow Jones Indices. The inflow of institutional players and traditional giants would help bitcoin reach the most traditional and mainstream market.

Bitcoin On-Chain Data Looks Healthier Than Ever

Bitcoin has seen a bullish price burst over the past month taking its price near its all-time high of $20,000. The king coin has been consolidating above $19,300 and trying to breach the crucial $20,000 level.

The on-chain data suggest that the price rally is still driven by institutional players since the number of new entities is comparatively low than in 2017 despite the constant rise. This suggests that the ongoing price rally is being primarily driven by institutional players than retailers.

Source: Glassnode

The heightened on-chain activity on the Bitcoin network suggests a healthy growth, adoption, and usage of the network. The on-chain active entities per day have reached 400,000 active entities per day which is just 4% short of its previous high. This value has only been higher once than the current value sometimes after 2017 ATH.

Source: Glassnode

The post Editorial: Bitcoin Adoption Faster Than Internet and Mobile Phones appeared first on Coingape.

Bitbank leads consortium of 12 Japanese exchanges to support Spark airdrop

After much uncertainty around the issue, an announcement today from Japanese crypto exchange Bitbank, declared that Flare networks will be able to distribute the spark token to Japanese exchange’s XRP holders. The distribution, however, is subject to a few conditions to be approved by the Japanese JVCEA by 12 June 2022. The resulting development came […]

The post Bitbank leads consortium of 12 Japanese exchanges to support Spark airdrop appeared first on AMBCrypto.

U.S. Treasury’s Brian Brooks: ‘Nobody Is Going to Ban Bitcoin’

On Friday (December 4), during an interview on CNBC’s “Squawk Box“, Brian P. Brooks, Acting Comptroller (since May) at the Office of the Comptroller of the Currency (OCC), said that “nobody is going to ban Bitcoin.” Brooks is currently also a member of the Board of Directors of Federal Deposit Insurance Corporation (FDIC). Between September 2018 and […]

Streamix.io Launches High Yield APY DeFi Farming on ValueDeFi.io

Streamix.io Launches High Yield APY DeFi Farming on ValueDeFi.io

PRESS RELEASE. Streamix.io, a crypto currency DeFi startup and social media platform for streaming and gaming, partnered with ValueDeFi.io, which allowed Streamix to be one of their first cryptocurrency projects to use their FaaS (Farming-as-a-Service) platform and drive more value.

See and trade current MIXS spot price 24/7 or learn more: https://bit.ly/39nUUJo

“Streamix is one of the first projects to use the FaaS platform and we’re very excited with the interest it has garnered in the crypto community. Our phenomenal growth in DeFi yield farming on ValueDeFi has surpassed our wildest expectations. In less than 48 hours, we broke $600K in total liquidity on their platform and the continuous trading momentum is very encouraging.”, said Sugnesh Patel, CEO & Co-founder of Streamix.io.

Streamix recently launched their first high APY DeFi liquidity mining program with the help of ValueDeFi.io, which is the innovative creators of FaaS (Farms-as-a-Service) technology.

“ValueDeFi gave a helping hand to Streamix in achieving our vision of taking crypto market rewards to end user. It’s the end user who is always giving their time & efforts so we are one step further in our vision of building a community of users who are given back for their efforts and ValueDeFi has helped us in growing that community by providing access to FaaS.”, said Ajay Sahu, CTO & Co-founder of Streamix.io.

By leveraging FaaS, Streamix.io quickly garnered a strong brand awareness, while driving an excellent value proposition for crypto holders that normally buy and hold crypto coins long term.

With four highly active yield farming pools, Streamix effectively put their native token (MIXS) into public circulation by allowing crypto traders to earn MIXS by simply farming Ethereum (ETH). For instance, the pair MIXS/WETH has over 231 ETH in locked liquidity as 12/3/2020. Any crypto trader can leverage this trading pair and earn more MIXS via the FaaS smart contract.

“The little-known truth about cryptocurrencies is that it’s a strong and viable commodity strategy for the discerning groups via ValueDeFi and other crypto exchanges. Plus, it’s a self-custody asset, while its usage over time represents a new form of private wealth management. Collectively, crypto currencies in this DeFi (decentralized finance) state is the guard rail for a pooled investment vehicle for generational wealth.”, said O. Tom Chhuong, COO & Co-founder of Streamix.io.

Crypto currencies are on the edge of a major financial paradigm shift. Crypto start-ups like Streamix.io represent one of many bridges to the new world reset along with the valuable and useful amenities not found anywhere with legacy investments such as equities or illiquid assets.

To participate in one or all of Streamix’s four high yield farming pools with your crypto currencies holding, go to ValueDefi.io, and connect your preferred free wallets such as TrustWallet.com, MetaMask.io, or AtomicWallet.io. Create your free account on one of those wallets and add ETH.

To add your liquidity to FaaS, buy MIXS with your ETH, or use other supported coins or tokens on ValueDeFi.io.

MIXS is now available at an exclusive rate and below current spot market price; expires in 24 hours automatically. https://bit.ly/MIXS-exclusive (limited-time offer) Optimized for computers not smartphones.

For HNWI (high net-worth individuals), connect with one of their founders mentioned above if you have a large OTC (over-the-counter) buy order (minimum order $250K). Streamix.io can help facilitate and/or setup your high yield farming liquidity pools on ValueDeFi with you.

About Streamix.io

Streamix.io, a crypto currency DeFi startup and social media platform for streaming video and gaming, while earning convertible rewards points via MIXS tokens. Their MVP (minimum viable product) allows users to create a social media profile and earn points for post articles, videos, ads, blogs, and much more. Visit: https://streamix.io

Press contact: O. Tom Chhuong, COO
Email: tom@streamix.io
Phone: 732-395-7361


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Streamix.io Launches High Yield APY DeFi Farming on ValueDeFi.io appeared first on Bitcoin News.

Is Bitcoin Having A Second Black Friday Sale?

Is Bitcoin Having A Second Black Friday Sale?

In a previous report, we noted analysts take on Bitcoin’s price dump. Unlike other times, traders are not advised to buckle up for a bear trend, in fact, the opposite is the case. This is, as explained by analysts, a healthy pattern for Bitcoin.

Referencing the 2017 Bitcoin rally which saw multiple Bitcoin price retracement going as high as 34% before Bitcoin hit an all-time high, analysts are convinced that the recent 17% pullback in the market is a hint that Bitcoin is repeating a “gold fractal” market pattern from as far back as the 1970s. Meanwhile, it is also important to note that the price dump, amongst many things, is considered a “Bitcoin Black Friday Sale.”

This Bitcoiner who noted this refers to the reduction in price as yet another advantage to the Bitcoin market. As prices continue to decline, the market creates an entry point for buyers to secure their spot in the market at a cheaper rate. At the start of November, Bitcoin was valued at $13,000, through the month of November, prices spiked by 38.4% when Bitcoin crossed $19,000. 

Within that time frame, prices have been fluctuating between $15,000 and $19,000, and at the time of this writing, Bitcoin is trading at $18,949 against the USD. This is a 4% dip in daily price and a 1.48% dip in weekly price, perhaps a signal that Bitcoin is having yet another black Friday sale. As analysts already noted, on different occasions, that Bitcoin must make a pullback in order to test newer levels, buyers may benefit from the ongoing price dip until the market begins to make a correction. The month of December is also very crucial for the cryptocurrency market. 

Being the last month completing the fourth quarter of the year, every milestone achieved will serve as a pointer to where the market is headed to in the following year. If Bitcoin hits $20,000, the bullish run may penetrate into the new year.

A bear market may also open the new year at new lows if a continuous sale happens. But since the bull run is still supposedly insight, Bitcoin’s $19,800 all-time high that was attained in November may be toppled this month. 

Depending on how fast the price correction is made, Bitcoin may surpass $20,000 this year. In the event that the bullish rally is prolonged, Bitcoin may hit $25,000 in the latter part of December. However, retaining new resistance levels above 2020 is another hurdle that Bitcoin must make, to prove that market maturation is taking place indeed.

F1® Delta Time’s “Bahrain Edition 2020” NFT auctioned for ~US$77,414

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 4 December 2020: Animoca Brands announces that F1® Delta Time’s Apex digital car “Bahrain Edition 2020” has sold at auction for approximately US$77,414. The item is a unique non-fungible token (NFT) in the highest rarity and power tier for the blockchain game F1® Delta Time. Politician and championship

Bitcoin SV short-term Price Analysis: 04 December

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice Unlike Bitcoin, Bitcoin SV has been more volatile. Given that it was the hard fork of Bitcoin’s hard fork, Bitcoin Cash, the asset has mostly been showing a very low correlation. The BSV price […]

The post Bitcoin SV short-term Price Analysis: 04 December appeared first on AMBCrypto.

Ripple Chief Excited About Future of Flare Networks Amid Imminent XRP Airdrop

Ripple CEO Brad Garlinghouse says he believes XRP investors have good reason to be excited about the launch of Flare’s smart contract system and the upcoming Spark token airdrop for owners of the third-largest cryptocurrency.

In a new interview with CNN, Garlinghouse says Flare’s push to bring smart contracts to the XRP Ledger shows the flexibility and utility of digital assets.

“This is a very exciting startup. They’re doing some very interesting stuff with something called the Spark token. But it is really distinct from what Ripple is doing. To me, it’s just a further example of people’s recognition that XRP is such an efficient digital asset and as you and I have talked about, utility will drive the long-term value of any digital asset.

Seeing a company like Flare Networks and seeing them use the XRP network in various ways is an opportunity to go forward, but it doesn’t affect RippleNet customers and how we are using ODL (On-Demand Liquidity) for our customers.” 

As for what the coming airdrop will mean for XRP holders, Garlinghouse says investors are rightfully excited about the possibilities.

“I think XRP holders are deservedly excited about what Flare is doing. I’m excited about what Flare is doing. As we’ve said, any time you’re seeing real utility solving a real problem – and I think Flare has carved out an interesting niche and as they move forward with this airdrop of Spark tokens I’m optimistic for them.

I’ve met the management team there. I think they’re very talented and I think they have a clear vision of the problem they’re going to solve.”

Ripple is an investor in Flare Networks. Flare is set to airdrop Spark tokens at a 1:1 ration to XRP holders on December 12th.

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The post Ripple Chief Excited About Future of Flare Networks Amid Imminent XRP Airdrop appeared first on The Daily Hodl.

Bloomberg Research: Bitcoin’s Market Cap Could Reach $1 Trillion in 2022

In the latest crypto outlook research report by Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence (BI), Bloomberg’s research arm on the Bloomberg Terminal, the Bitcoin price could reach $55K in 2022. According to the December 2020 edition of the “Bloomberg Crypto Outlook” report, which got released on Thursday (December 3), Bitcoin will “maintain its propensity to advance […]

Internet Searches for ‘Bitcoin’ Explode amid Inflation Fears

Queries on Google for Bitcoin reached its highest level alongside its spot price.

As of this week, Google Trends, a metric to measure general interest in trending topics, returned a value of 100 for the US search query for the keyword ‘Bitcoin.’ That is more than three times higher than the value of 30 observed in late September-early October 2020 session on a 12-month timeframe.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin trend on Google shoots to its maximum on a 12-month period. Source: Google Trends
Bitcoin trend on Google shoots to its maximum on a 12-month period. Source: Google Trends

Meanwhile, the same keyword’s worldwide trend was 94, still three times higher than its score of 33 in early October 2020.

Fractal Trend?

The internet search volume increased after Bitcoin established an all-time high of $19,915 on Monday (data from Coinbase). Its record came as a part of a rally that witnessed the Bitcoin price rising by more than 400 percent from its mid-March nadir of $3,858.

That also marked the second time Bitcoin came very near to testing the $20,000 since the frenzy of December 2017. Back then, the Google Trend global score for ‘bitcoin’ has topped at 100 on a five-year timeframe. But this time, the trend maxed out at 24 — still the best level since June 2019.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin trend on Google hits its highest level since June 2019 on a 5-year timeframe. Source: Google Trends
Bitcoin trend on Google hits its highest level since June 2019 on a 5-year timeframe. Source: Google Trends

Crypto market analyst Jebb McAfee looked at the difference as a bullish sign, stating that an underscored Google trend attached with a record high Bitcoin price showed that the cryptocurrency had more room to grow higher. The data may validate that institutional investors are driving the Bitcoin prices upward.

Bitcoin Adoption Boom

Several firms, including MicroStrategy, Cypherphunk Holdings, Square, and others have replaced a good portion of their cash reserves with Bitcoin. Their decision came in the wake of the Federal Reserve’s infinite bond-buying and ultralow interest rate policies that removed shine off short-term government debts and the US dollar itself.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin price is looking to close above $20,000. Source: BTCUSD on TradingView.com
Bitcoin price is looking to close above $20,000. Source: BTCUSD on TradingView.com

Meanwhile, their fears of long-term inflation made Bitcoin look like an appealing asset thanks to its limited supply.

“In a world where you’ve got $90 trillion worth of equity market cap and God knows how many trillions of fiat currency, etcetera…it’s the wrong market cap, for instance, relative to gold, which is $8 or $9 trillion,” said billionaire investor Paul Tudor Jones.

“I’m going to assume that it’s the wrong [Bitcoin] price for the possibilities that it has. And I’m going to assume that the path forward from here is north,” he added.

What Is Bitcoin Mining And How Does It Work?

Bitcoin is a virtual or cryptocurrency which is extremely simple to send or receive. The transaction is as simple as sending or receiving messages. Like any other currency, bitcoin can be used to buy things, or booking etc. The major difference between any usual currency and bitcoin is that bitcoin is not under the control of the government. Satoshi Nakamoto, in 2009 started this concept and today many people are interested in bitcoin. Bitcoin is never midway, it will either give you a great loss or great return. This is because the value of bitcoin fluctuates extremely.

What is Bitcoin mining?

Bitcoin mining is not related to any physical work or on land practice. It is done over high-power computers that are potent in solving strenuous math problems. Such problems cannot be solved manually and thus requires computers. Also, anybody or anyone cannot solve them easily as it does not include some set of formulas or steps. The miner must have some experience in the field and a high-power computer.

The result of bitcoin mining comes with a great reward. When any such high computational mathematical problems are solved you produce a new bitcoin. On the other hand, miners make the bitcoin transaction trustworthy. This is how all miners ensure that all bitcoin payment networks are secured.

What Is The Need For Bitcoin Mining?

Since bitcoin or any transactions related to bitcoin does not come under the protocol of the government, there is a need to make the payment history for the future. To meet the demand all transactions are blocks. These blocks when put together they generate the history of payments; this process ultimately generates a blockchain. Nodes monitor the blocks or transaction for future verification.

Bitcoin exists virtually and there is a great possibility of copying the data and producing a duplicate bitcoin. Thus, there is a huge venture that a bitcoin owner makes several transactions using the same or original bitcoin. The verification of bitcoin is of extreme importance and hence place the role of the miners. Miners basically confirm that none of the bitcoin is on repeat. Since for the physical currency, there is a receipt and once you give them, they are physically gone but this is not the case with bitcoin. Bitcoin does not exist physically and there is no receipt for their use. So, during any transaction of bitcoin, miners guarantee that there is no duplicate or the second use of bitcoin by solving complex mathematical problems. As a result of which the transaction gets verified and miners get a bitcoin as an award.

What Does A Miner Do In Bitcoin Mining?

Earning bitcoin via mining seems easy, but it includes effort and luck. Miner majorly to earn reward focuses on the two things. 

  1. The miner when completes 1MB (megabytes) transaction he/she becomes eligible to earn the reward. This is the effort part of the process.
  2. The miner must be the first one to come to the right answer if the computational math problem. This is the luck part of the process.

What Is The Math Problem In Bitcoin Mining?

The math problem is what is used to define Bitcoin Mining, but it is not exactly a math problem. They are looking for a 64-digit number or a hexadecimal number which is also known as harsh. This includes guesswork and luck. If you can come at the correct 64 number as the first one compared to all other miners, then you will produce a bitcoin. 

What Are The Steps In Bitcoin Mining?

There are some steps and requirements to complete Bitcoin mining. These are listed below:

  1. Get a Bitcoin Wallet: Unless you do not have a bitcoin wallet you can’t complete mining. A bitcoin wallet is nothing exceptional or different as compared to any other wallet. It helps to send, receive or transact the bitcoin. It is important to do the mining because it verifies the miner. It ensures that a miner is itself a user of bitcoin or has enough bitcoin to exchange them in future. This also verifies that the miner has its Bitcoin address which is a requirement for mining as well as transaction. There are many types of wallet available in the market. SPV (Simple payment verification wallet), Hot wallet and cold wallet. Choosing the right wallet as per your needs is necessary. 
  2. Find Bitcoin: To complete mining you need high power computers but to run those computers you need great power or electricity supply. This itself generates a great expense for the miner. This will also be required during an exchange of bitcoins.
  3. Get Mining Hardware: It is not at all possible to run bitcoin on a normal computer or laptop. Bitcoin Mining requires special hardware that is potent in solving and handling in big surfing. The reason to use specialized Bitcoin Hardware is that a normal computer makes you go in a loss rather than in profit. This is due to the electricity cost and another additional thing which will allow you to earn less than a penny in the whole year. 
  4. Get Mining pool: Mining pool is where you will get problems. If you can contribute to the pool by generating blocks, you will get a Bitcoin. The reward depends on the current scenario of bitcoins and can fluctuate. 

Before going to purchase Bitcoin or making up the mind to do Bitcoin Mining it is important for you to understand the advantages and disadvantages of using Bitcoin. These advantages and disadvantages are listed below:

Advantages Of Using Bitcoin:

  1. International payments are much faster.
  2. There is no way that your payment transaction is getting fraud because it is virtually impossible to hack any blockchain. 
  3. Yours and your receiver details are never disclosed. Once you are done with the transaction you two again become complete strangers. 
  4. New user’s verification is not required like those in banks. Anyone having a Bitcoin address can use it. 

Disadvantages of Using Bitcoin:

  1. Mining is done on specialized computers that require great electricity. This generates a much higher expense.
  2. Some people find it difficult to use.
  3. There are always trust issues in using Bitcoin because it does not come under any governmental body. 


Bitcoin mining is a complicated concept. If you just want to invest in bitcoin, buy bitcoins. But if you want to really get into cryptocurrency, you can learn to mine bitcoins. It will give you extensive knowledge about cryptocurrency and enable you to become better in this subject. There is no guarantee that you will surely be able to mine bitcoin, but you can be assured to learn a lot about this technology by trying it. Also, even if you are successful in mining a bitcoin, you need to learn how you make the best use of it. You need to decide whether you should keep it safe until its value gets higher or sell it at the current market price.

Image(s): Shutterstock.com

The post What Is Bitcoin Mining And How Does It Work? appeared first on NullTX.

Bitcoin and Altcoins Signaling Downside Break

Bitcoin price failed to extend gains above USD 19,500. As a result, BTC reacted to the downside below the USD 19,200 and USD 19,000 support levels. The price is currently (13:00 UTC) trading below USD 19,000 and it seems like there are chances of more downsides below USD 18,800 and USD 18,500. Similarly, there was a downside break in most major altcoins, including ethereum, XRP, litecoin, EOS,

OMG Network acquisition raises its token price by 18%

TL:DR Breakdown:

  • Ethereum-based OMG Network has been acquired by a Hong Kong blockchain venture capital firm.
  • The announcement brought over an 18 percent price increase for the native token, OMG. 

The native cryptocurrency of the OMG Network (OMG) noted a two-digit percentage increase today. The development follows an announcement that the network has been acquired by Genesis Block Ventures (GBV), a blockchain-focused venture capital investment company. GBV’s plans for the blockchain network is geared at accelerating more adoption and expanding its reach across countries in Asia and beyond, according to the announcement on Friday.

OMG Network sets for adoption

In 2017, the OMG Network was established as a subsidiary of SYNQA, a holding computer in Asia that specializes in blockchain development for fintech, online payment, and digital transformation. The OMG Network serves an Ethereum-based network that allows users to process transactions on Ethereum off-chain at a faster and reduced fee. In August 2020, Tether had partnered with the OMG team to host the popular US dollar-backed stablecoin, USDT, on the OMG Network.

However, following the acquisition by GBV, the network’s team and business will be transitioned from the initial parent company, SYNQA, to Genesis Block, in a bid to spearhead more growth and adoption for the blockchain network. Meanwhile, the acquisition today could be viewed as an important development for OMG users, as the native token surged by 18 percent since the announcement today. 

OMG reacts to new acquisition

According to Denis Vinokourov at Brokerage Bequant in London, “OMG surged higher overnight in reaction to the news that Hong-Kong based OTC trading firm is to acquire OMG Network.” The cryptocurrency increased from $3.74 to $4.41, making over 18 percent price growth. In August, the token grew by more than 200 percent due to the craze in the decentralized finance (DeFi) market, which, in turn, increased the activities on the network.

Facebook’s Crypto Testnet Reports Maximum 24 Transactions Per Second 

Facebook’s testnet has been live for over a month as the Libra Association prepares for the next stage with broader participation among members. 

Facebook’s Libra Moves a Step Ahead 

The latest update from the blockchain explorer finds the network performing at an average of six transactions per second (TPS), with the highest reported figure of 24 TPS. 

In comparison, Bitcoin and Ethereum blockchains execute close to four and 13 TPS, respectively. On the other hand, VISA support 1,700 transactions each second. 

Blockchain explorer stats for Facebook's Diem.
Blockchain explorer stats for Facebook’s Diem. Source: Indiem.info

The testnet will be looking to upscale throughput and evaluate the performance of the network. 

The top address contains 9.1 trillion LBR units. The test net is running close to 10 trillion tokens in 31,184 addresses. 

Joe Lallouz, the CEO, Bison Trails, a member of the Libra Association, told Finance Magnates:

“Moving from a testnet to a mainnet is a huge milestone for Libra.”

Libra is planning to roll the testnet “out and into the hands of potential users, potential customers, and potential companies.”

Allegedly, the Libra Association is planning for a January launch with the first USD-backed token. However, the dates of a public launch are still unclear. 

OMG Price Soars Following Recent Acquisition by Genesis Block Ventures

Genesis Block Ventures, the investment arm of the Hong Kong-based OTC trading company Genesis Block, has acquired the layer-2 scaling solution for Ethereum – OMG Network.

The OMG token reacted positively to the news with an immediate double-digit price surge.

GBV Acquires OMG Network

Formerly known as OmiseGo, OMG Network facilitates transactions on the Ethereum blockchain by handling them off-chain, thus operating as a trustless, non-custodial layer-2 scaling solution.

Earlier today, GBV announced that OMG Network had become the company’s “first major acquisition.” The firm describes itself as an “investment company with a mission of building the future through blockchain that has built a wide-reaching, vibrant blockchain ecosystem.”

The venture firm plans to leverage OMG Network’s blockchain to enhance its accelerated growth and further increase the adoption in Asia and beyond.

The statement also highlighted GBV’s active role in the DeFi craze during this year. However, the company also admitted several challenges in the field, which OMG Network could assist in resolving.

“GBV foresees the main headwind to the development of DeFi, is that Plasma is not EVM compatible, which makes the adoption of DeFi more challenging.

As a leading layer-2 scaling solution for Ethereum, OMG Network supports the transfer of ETH and ERC-20 tokens with a throughput of thousands of transactions per second, scaling Ethereum and making it enterprise-ready.”

Consequently, the two organizations plan to leverage each other’s resources to build lending and trading platforms and enhance DeFi’s mass adoption. GBV will also “ensure the smooth transition of OMG Network’s team and business from SYNQA to GBV, minimizing the impact of the acquisition on OMG Network’s token price.”

OMG Token Price Reacts

Despite GBV’s efforts to reduce any sharp price effects, the OMG token reacted in a highly-volatile manner.

OMG surged by 20% just minutes after the announcement went live. As a result, the asset marked a daily high of $4.42, which was also the highest level since November 26th.

However, as the aftermath of the acquisition calmed, so did the price. As of writing these lines, OMG has retraced back to $3.8.

OMG/USD. Source: TradingView
OMG/USD. Source: TradingView