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…

Hong Kong OTC trading firm acquires OMG Network

Ethereum-based scaling platform OMG Network has been acquired by the venture subsidiary of Hong Kong-headquartered OTC trading firm, Genesis Block. The acquisition was announced on Dec. 3, with Genesis Block Ventures revealing plans to work with OMG to build “lending and trading platforms” for the DeFi sector. The firm also intends to leverage its connections across Asia’s blockchain industry “to accelerate the development of OMG Network” and foster partnerships throughout the region. Genesis Block said it has engaged deeply with the DeFi sector this year, and has built relationships with…

Australian government embraces blockchain with new trial and public servants’ network

The Australian government is trialing the use of blockchain technology for inter-government document exchanges with Singapore as the latest action in a series of pro-blockchain efforts. It follows hot on the heels of the establishment of a new network promoting blockchain to public servants.  On Nov. 23 the Australia Border Force launched a blockchain trade trial in collaboration with Singapore Customs and Singapore Infocomm Media Development Authority to test digital verification systems. ABF Commissioner Michael Outram explained that the trial will help digitize trade and compliance records, adding: “This initiative…

BlockApps launches Ethereum-based Agritech network in collaboration with Bayer

On Nov. 18, blockchain solutions provider BlockApps launched a blockchain-based agricultural crop tracking network called “TraceHarvest” — and one of the largest companies in the world, Bayer, is among its first users.  TraceHarvest reportedly provides users with the ability to trace the life cycle of agricultural products starting from the source of seeds, all the way to defining the responsibilities of each party involved in the supply chain. The platform also provides users with information in real-time, ideally mitigating problems associated with manually tracking crops. TraceHarvest is open to all…

Ethereum 2.0 to boost DeFi but delayed launch may set the network back

This deposit contract is the first step that would eventually lead to the launch of Ethereum 2.0. If to consider that the launch will go down successfully, Ethereum will ship the Beacon Chain and introduce proof-of-stake to the ecosystem, which is currently based on the proof-of-work, another consensus algorithm that is based on mining. Shard chains would be the next upgrade to follow Beacon Chain. Ultimately, the eventual launch of Ethereum 2.0 will have an effect on the decentralized finance market. In 2020, the DeFi sector has grown significantly but…

Poker network now gives ‘95% of payouts’ in Bitcoin — around $160M monthly

Winning Poker Network, an online network that supports numerous online poker websites across the world, has reported a surge in demand for Bitcoin payouts.  In an Nov. 19 report from Bloomberg, the CEO behind Winning Poker Network, or WPN, said that up to 95% of poker players are currently requesting to be paid in Bitcoin (BTC). Though the poker network has supported several cryptocurrencies since 2014, WPN CEO Phil Nagy stated that the company needed to make more BTC purchases than ever because of demand caused by the recent price…

Oasis Network mainnet launches touting privacy for loans and genomes

Oasis Labs has announced the successful launch of its Oasis Network mainnet, with more than 70 independent validators already live. Oasis is a privacy focused Layer 1 network that claims a throughput of 1000 transactions per second designed to support decentralized applications. In June 2018, Oasis raised $45 million from crypto venture heavyweights including A16z, Binance Labs, Pantera, and Polychain. Oasis allows data to be encrypted, and for privacy policies surrounding its use to be enforced through smart contracts Oasis Labs says its “confidential compute” functionality enables encrypted data to…

AdEx Network Faces Crucial Community Vote on Decentralization

AdEx will launch the project’s first community vote this month. Community members will decide on different ways to continue developing the protocol.  AdEx is an advertising platform trying to solve advertising fraud and privacy issues. One of the proposals asks the community how many ADX tokens the platform should create next year. A larger supply means a higher rate of interest. The largest supply is 150 million. AdEx launched an incentivized staking program in September 2020. At that time, the protocol created 7 million new ADX tokens to distribute to…

Bitcoin price will hit $65K as network effect has ‘taken over’ — Mike Novogratz

Bitcoin (BTC) will hit $65,000 due to a combination of low supply and “tons of new buyers,” major investor Mike Novogratz says. In an increasingly popular Twitter debate on Nov. 17, Novogratz, who is well known for his prominent Bitcoin plugs, told actress Maisie Williams not to hesitate in buying the cryptocurrency. Novogratz on Bitcoin: Network effect has “taken over” Williams had released a poll asking Twitter followers whether or not she should invest in BTC. At press time, the verdict was split, with 47% of the roughly 750,000 responses…

Chainlink Network Activity Plunges, LINK Price May Soon Follow

Key Takeaways Chainlink’s price is contained within an ascending parallel channel since late September. On-chain metrics show that the network’s activity declined over 27% in the past week. The considerable decline in network growth could be followed by tumbling prices, based on historical data. Share this article Crypto enthusiasts are growing overwhelmingly bullish as the market seems to have entered a new parabolic advance. Still, Chainlink fans may have longer to wait than the rest of the industry. Multiple technical and on-chain indicators suggest that LINK is bound for a…