Solana Turns Back On After Six Hour Outage

Key Takeaways A error in Solana’s mainnet beta prevented block confirmations. The Solana team quickly asked its validators to restart the network. The blockchain was offline for approximately six hours. Share this article Solana, a proof-of-stake blockchain, suffered a six-hour outage today. The issue has been resolved and an explanation is forthcoming. At approximately 1:46pm UTC on Dec. 4th, 2020, the Solana Mainnet Beta cluster stopped producing blocks at slot 53,180,900. The Solana team is actively working with validators to restart the network. No funds are at risk. Live updates…

New KYC Rules May Arrive Before Trump Leaves Office

Key Takeaways The blockchain industry is waiting on regulations that will soon be announced by the U.S. Treasury. Acting Comptroller Brian Brooks stated in a CNBC interview that the new regulations will not harm Bitcoin. Brooks suggested that the Treasury will announce good news for the crypto industry by the end of Trump’s term. Share this article The United States’ acting Comptroller of the Currency has stated that new regulations will arrive in the coming weeks. He also affirmed that those rules will not disrupt the blockchain industry. Bitcoin Safe…

DeFi Auction House Bounce Integrates yEarn

Key Takeaways Bounce Finance has integrated YFI as an auction pair and opened a yGift store. Users of the decentralized auction house will be able to buy and sell yGift NFTs with YFI. It’s the latest in a series of extensions from Andre Cronje and the yEarn team. Share this article Popular DeFi protocol, Bounce Finance, which acts as an auction house, lottery, and prediction market, has integrated yEarn and opened up a yGift store.  yEarn Launches NFT Marketplace on Bounce yGift labels itself as an NFT platform “for gifts,…

At Last, The SEC Has Launched a Crypto Regulation Desk

Key Takeaways The SEC established FinHub in 2018, and yesterday declared plans to make it a standalone entity. FinHub’s new status will enable the SEC to work more closely with crypto market participants and other regulators. Research shows that institutional investors are more likely to buy Bitcoin under increased regulations. Share this article Since 2018, the FinHub office has been part of the SEC’s Division of Corporation Finance and will become a separate entity. In the past, FinHub has been responsible for understanding new financial technologies and applying relevant regulatory…

OMG Network Pumps and Dumps Post-Acquisition

Key Takeaways OMG’s price jumped by nearly 20% within minutes after it announced its acquisition. As some investors decided to “sell the news,” prices crashed to the same point they were before the news dropped. Now the token sits between two major supply walls without providing a clear path for where it is going next. Share this article Crypto investors may have acted too soon on news of OMG Network‘s acquisition. OMG’s wild price action was able to trap speculators and it now appears to be stuck in limbo. OMG…

China to Airdrop $3M Crypto Ahead of Chinese Black Friday

Key Takeaways Suzhou will give away 20 million yuan worth $3 million in the new central bank digital currency. Suzhou citizens will receive the funds via lottery in amounts of around $30. Citizens can register for the lottery between Dec. 5 and Dec. 6. Share this article In China, the Suzhou government released a blog post on Dec. 4 announcing a 20 million yuan giveaway in the digital currency called DC/EP. Any of the city’s 10.7 million residents can register for the airdrop between Dec. 5 and Dec. 6, and…

Bitcoin Market Cap Headed to $1 Trillion in 2021, Says Bloomberg

Key Takeaways Bloomberg analysts have forecast Bitcoin’s price reaching as high as $50,000 in 2021. The summary argues that Bitcoin has cemented a support level at $10,000. Supply crunch will also ensure keep prices high, according to the report. Share this article Bloomberg analysts think that 2021 will be another big year for Bitcoin. The publication’s crypto arm has published its December 2020 report, in which analysts called for the number one digital currency to reach as high as $50,000 next year. Bitcoin’s Bullish Year Ahead The leading cryptocurrency is…

Bitcoin Fundamentals Paint Bullish Picture Despite Latest Pullback

Key Takeaways Bitcoin’s total hashrate has recovered after dropping 35% in October, flagging a buy signal.   The leading crypto is, however, witnessing movement from old BTC wallets as prices reached all-time highs.  Analysts predict that Bitcoin’s price may witness a short-term pullback, but the momentum remains bullish.  Share this article In November, the Bitcoin network witnessed higher profit-booking tendencies after its price increased by 42.5%, reaching a peak value of $19,860. New buyers and derivatives traders have been apprehensive of a bullish trend reversal. However, the growth of mining hashrate…

Sell Signals Abound as Stellar Lumens Prepares 20% Correction

Key Takeaways Stellar seems to be forming a descending triangle on the 4-hour chart. Although this technical pattern shows ambiguity, a particular indicator favors the bearish outlook. Losing the $0.175 price level as support will increase the odds for a 20% correction towards $0.14. Share this article 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…

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. Source: Indiem.info The…