Ethereum price bounce to $2.6K fails to excite neutral-to-bearish pro traders

While speaking at the Virtual Fintech Forum in Hong Kong on May 27, Ethereum co-founder Vitalik Buterin commented on obstacles related to the Ethereum 2.0 rollout. Buterin said that there had been several internal team conflicts in the past five years and as a result, he confirmed that Ethereum 2.0 launch is unlikely to occur before late 2022. In a May 22 report from Goldman Sachs, analysts said that Ether has a “high chance of overtaking Bitcoin as a dominant store of value.” Furthermore, the report noted the growth of…

Why Elon Musk is Pushing Renewable Energy for Cryptomining

San Francisco / USA – Mar, 2020: Elon Musk, CEO of SpaceX, founder of Tesla. Famous entrepreneur. Vector portrait illustration. The ‘Dogefather’ Elon Musk  delivered his ultimatum on Sunday, essentially.  It’s pretty easy to see why. When the goal of your business is to reduce fossil fuel consumption, it’s important to take a lead. Elon Musk’s tweets about Bitcoin are the all-time best example of just how much power he holds.  There are many things we can admire Elon Musk for, and chief among them is this move. Regardless of…

Pandora Finance’s $2.4M raise helps spearhead open finance protocol

Vohra believes the gap between these two domains represents one of the biggest adoption challenges for decentralized technologies. “We are uniquely positioned to solve the biggest problem,” he said, adding: “There are around $300 trillion dollars of real-world assets which are illiquid. Pandora’s vision is to bridge those off-chain assets to the on-chain ecosystem with an effective business model.” Pandora’s business model revolves around the tokenization of illiquid assets, which would allow them to be traded and owned in a secure, decentralized manner. This is accomplished through a middleware solution…

Democratic lawmakers have formed group to address regulatory concerns around crypto

Maxine Waters, who represents California’s 43rd congressional district in the U.S. Congress, said she had organized a group of Democratic lawmakers for a deep dive on cryptocurrencies and central bank digital currencies.  In a Tuesday virtual hearing of the U.S. House of Representatives’ Task Force on Financial Technology, Waters said “cryptocurrencies and other digital assets” were an important issue for the House Financial Services Committee, for which she is the chairperson. The California congressperson added: “As cryptocurrencies grow exponentially, I’ve organized a working group of Democratic members to engage with…

Bitcoin price hits $41K, then rejects after sellers defend the 200-MA

The overall mood of the cryptocurrency ecosystem is muted on June 15 with most altcoins trading flat while Bitcoin (BTC) bulls look for a daily close above $41,000 as a sign that the market could be shifting in favor of bulls. Data from Cointelegraph Markets Pro and TradingView shows that within the last few hours Bitcoin price rallied to $41,330 but the breakout was swiftly met by selling at overhead resistance levels. BTC/USDT 4-hour chart. Source: TradingView Another gauge of investor sentiment as highlighted by Rekt Capital is the 200…

Tim Berners-Lee to Auction WWW Source Code as NFT

Key Takeaways Tim Berners-Lee, the inventor of the World Wide Web, is auctioning the code behind his creation as a non-fungible token (NFT). The NFT in this case is a digital representation of over 9,500 lines of code written by Lee between 1989 to 1991. The collectible token will be auctioned by Sotheby’s. Share this article Tim Berners-Lee, inventor of the World Wide Web, will auction his original source code as a non-fungible token (NFT) via Sotheby’s. Lee submitted a proposal for the World Wide Web in 1989 while working…

El Salvador reportedly weighing paying employees in Bitcoin

Rolando Castro, the Minister of Labor and Social Welfare in El Salvador has said that the government is discussing whether companies in the country should pay their employees in Bitcoin. According to local radio station 107.7 Fuego GMV, Castro has discussed the issue of employers paying their workers in Bitcoin (BTC) with officials from the Ministry of Finance and the Ministry of Economy. His remarks come a week after the country’s Legislative Assembly approved the use of the cryptocurrency as legal tender. El Salvador’s 2001 Law of Monetary Integration, which…

Bears Begin To Dig Claws Into Crypto Trend

Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, and are ready to bring out the claws if needed to swat crypto prices back into hibernation mode. Only Up Season Is Over: Bears Now Control Bitcoin Trend After such a strong year for bulls…

The Chinese University of Hong Kong and ConsenSys create COVID-19 digital passport

The Chinese University of Hong Kong, or CUHK, has partnered with Ethereum developer ConsenSys to launch a new blockchain-based Medoxie COVID-19 Digital Health Passport – a product that could help healthcare workers combat the pandemic. The passport utilizes blockchain technology to record a patient’s COVID-19-related events, including test results, temperature checks and vaccinations, with the aim of providing a safe pathway to full economic reopening post-pandemic. Information that is held on the passport is said to be stored securely and privately. Initially, the digital passport will be accessed by medical…

As Yearn.Finance’s yield vaults grow, ‘crop’ projects define boundaries

With millions and even billions of dollars at stake, industrial-scale yield farming is leading to pockets of resistance as some projects refuse to be left with the chaff.  In the past week, team members from no-loss lottery project PoolTogether and exchange liquidity pool provider Curve Finance have proposed ways to reduce the load Yearn.Finance strategies place on their protocols and governance tokens. In a Tweet on Sunday, PoolTogether co-founder Leighton Cusak noted that Yearn has become the primary beneficiary of many of the protocol’s DAI lotteries, as Yearn controls 57%…