Bitcoin Bears May Soon Be Punished as On-Chain Data Grows Bullish

Bitcoin has seen some incredibly bearish price action throughout the past few days, with the cryptocurrency’s price declining to lows of $9,900 before being able to find some strong support. The buying pressure here did prove to be rather significant, as it allowed the token to rally higher and once again stabilize within the lower-$10,000 region. This mixed price action has done little to offer insight into its near-term trend, but it does appear that BTC is at a pivotal point. Any sustained dip below $10,000 could cause it to…

Blockchain-based app easing pandemic travel launched

A blockchain-based app aimed to make travel during the pandemic easier has been launched. The app, called ICC AOKpass, allows users to verify their COVID-19 status instantly. Dorjee Sun, CEO of blockchain firm Perlin, told CIR Magazine that ICC AOKpass “uses a common global standard that can be deployed and used anywhere in the world today. It can adapt to the rules of any given country and allows users to instantly verify their COVID-19 compliance status anytime, anywhere.” ICC AOKpass was tested by a couple of companies, including Singapore-based firm…

Bitcoin Price Slips Below $10,000, Liquidating $40 Million

Bitcoin has sustained a strong correction over the past few days as legacy markets have turned red. The price of the leading cryptocurrency just plunged under $10,000 minutes ago for the third time in the past 48 hours. BTC now trades for $9,950 as of this article’s writing, around a percent or two above the local lows of $9,800. The market’s momentum seems to be bearish. This is exemplified by futures markets for Bitcoin, which have begun to print a series of negative funding rates, which means the prices of…

Dash introduces protocol versioning in update

The Dash platform will be introducing protocol versioning and other new features in its latest update.  Dash announced its fourth update over the weekend. The platform normally releases new functionalities every six weeks, so the next update is expected between October 6 and 20.  Dash said it is adding versions of its protocol to make it easier for developers to begin transitioning to a testnet and mainnet. Previously, developers needed to wipe data on Evonet and update their platform software with each new release. The company said: “While this approach…

Vale completes iron ore transaction through blockchain

Mining firm Vale and its partners completed its first iron sale over blockchain. According to a statement on its website, Vale sold 176,000 tons of iron ore to Nanjing Iron & Steel, sending the material from Malaysia to China. Vale and its partners used the blockchain platform Contour to issue a letter of credit. Shipping documents and an electronic bill of lading—a list of all the goods shipped—were handled through essDOC’s CargoDocs solution.  The company said it ensured end-to-end security in the transaction with the real-time visibility to the stakeholder…

Bitcoin Collapse Retests Key Weekly Level Never Lost During Last Bull Run

Bitcoin price this week shocked the crypto world with an over $2,000 collapse from over $12,000 to under $10,000 in just two days flat. Although there’s certainly blood in the streets, and a sharp turn in sentiment toward fear and panic, the cryptocurrency is currently holding an important level. The fall retraced to a key level that during the last major bull market was never lost. The alternative – potentially losing the line – last led to the Black Thursday plummet. The cryptocurrency is clearly at a crossroads and whatever…

Healthcare makes case for blockchain use despite challenges

The healthcare industry in the United States has shown great interest in blockchain technology, especially after the recent cyber attacks on medical research facilities working on COVID-19 vaccines. According to the DevPro Journal, healthcare officials believe that adopting blockchain technology can provide data security against cybercriminals and hackers because it does not contain a central failure point. Users can only access data using a very complex access key, making ransomware and similar attacks null. What reinforces the idea of ​​applying blockchain technology in health institutions is that attacks have been…

3 reasons why Bitcoin suddenly dipped under $10K today — and recovered

The price of Bitcoin (BTC) dropped to sub-$10,000 across major exchanges again on Sep. 5, marking two consecutive days of testing the crucial level. Other major cryptocurrencies, including Ethereum’s Ether (ETH), fell by nearly 10%. The daily chart of Bitcoin. Source: TradingView.com Three factors likely contributed to the abrupt drop of Bitcoin include miners, a strong dollar and whales taking profits.  Did whales take profit? When the price of Bitcoin suddenly dropped by 5% to $9,975 on Binance, BitMEX liquidations were below $40 million. Typically, when a massive price movement…

Curve’s Troubled Governance Is a Warning for Other DAOs in DeFi

Key Takeaways Curve’s liquidity providers don’t actively participate in the governance process, which leaves decision-making in the hands of a few powerful stakeholders. While the latest reward boosting initiative improved the situation, it doesn’t solve the fundamental governance problem. Non-financial incentives are important for building long-lasting decentralized communities. Share this article Several yield farming schemes this summer have made many users rich. But when it comes time to vote on protocol improvements with their newly-earned governance tokens, many farmers have been silent.  The idea of liquidity mining assumes that reward…

The DeFi revolution is like cooking a recipe

In the last two months, the decentralized finance industry has seen a dramatic surge of interest, as new platforms promising to disrupt the way people manage their money, transact, earn and entertain themselves have launched in rapid succession in recent months. Much of this growth has been catalyzed by the meteoric rise of DeFi lending platforms like MakerDAO and Aave, which together now compose more than 40% of the DeFi market. But a wave of new DeFi products that are targeting practically every traditional and digital industry is now making…