MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race

Disclaimer Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it…

Pompliano Joins Board of Blockchain-Based Lending Firm After $103M Raise

The raise brings Figure’s total funding to more than $225 million and values it at $1.2 billion, according to a company press release. Aside from Morgan Creek, which led the round, and MUFG, participants included DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures and The Partners at DST Global. While the size of the round was disclosed in a securities filing last month, the other details were not revealed until now. Source link

Matter Labs Unveils Layer-2 Scaling Solution for Ethereum Payments

Funds move between users inside the smart contract, which is orchestrated by validators and guardians. When a contract is open, validators package transactions into blocks. Elected by guardians, validators have a near-perfect probabilistic guarantee of participating honestly with safety features such as built-in collateral (to disincentivize cheating). Users also decide when a contract closes, sending funds back to the main ethereum chain. In other words, the funds are always #safu. Source link

South Korea Telecoms Giant Ramps Up Blockchain Roaming Deal With China

South Korea’s largest telecoms provider, KT Corporation, is boosting a partnership with China Mobile targeting blockchain technology and 5G roaming. As local English-language news outlet The Korea Herald reported on Dec. 5, KT is preparing to debut 5G roaming capabilities in China later this month.  KT Corp. eyes B.Link blockchain rollout At the same time, the companies are working on a blockchain system which will allow them to save time and costs when computing roaming charges for mobile users.  According to The Korea Herald, the B.Link system is able to…

Ripple (XRP) Price Could Revisit $0.2000, BTC & ETH Under Pressure

Ripple price rallied recently above the $0.2220 resistance, but failed near $0.2265 against the US dollar. The price currently declining and it is approaching the pre-rally level near $0.2100. There is a new bearish trend line forming with resistance near $0.2210 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also down and moving towards the $142 support area. Ripple price is still trading in downtrend despite the recent rally against the US Dollar, similar to bitcoin. XRP price is likely to revisit the $0.2000…

Ethereum (ETH) Rip & Dip Scenario Was Total Disaster

Ethereum rallied sharply above the $150 resistance, but failed near $152 against the US Dollar. The price is trimming gains and it is back to pre-rally levels near the $144 support. There is a short term bullish trend line forming with support near $145 on the hourly chart of ETH/USD (data feed via Kraken). The price remains at a risk of more losses below the $145 and $144 support levels. Ethereum price rally above $150 seems to be fake versus the US Dollar, similar to bitcoin. ETH price is back…