Akon City, the futuristic city to run on renewable energy and the Akoin cryptocurrency, has awarded a $6 billion contract to KE International. Announced by the famous singer and producer Akon, the city should have its first two phases finished by 2029.Akon City Awards $6 Billion ContractWhile most community members regarded the rumors about the futuristic-cryptocurrency themed Akon City initially as somewhat sarcastic, Akon himself made it official after finalizing the agreement earlier this...
Read More »Crypto Compare Unveils New BTC-Monitoring Index
MV Index Solutions GmbH (MVIS) has joined hands with Crypto Compare – a digital asset data firm – to launch a new index that will offer an hourly, updated bitcoin price in USD.Crypto Compare Launches New BTC-Monitoring ToolTraders and investors in the crypto space should know by now that bitcoin, while popular and significant, is among the most volatile assets around. Just yesterday, the currency rose to $10,100 after trading at $9,500 for a few days – only to come crashing down and lose...
Read More »Bitfinex Dismisses Tether’s Bitcoin Price Manipulation Lawsuit: Baseless Conspiracy Theory
Bitfinex has responded to the latest amendments in the ongoing class-action lawsuit leveled against Bitfinex and Tether, calling the entire case, “baseless.”Bitfinex/Tether Denounce “Baseless” LawsuitGeneral Counsel for Bitfinex, Stuart Hoegner, labeled the lawsuit an “unproven conspiracy theory.” He said in an official company announcement on June 4:“The plaintiffs’ allegations remain untethered to either the facts or the law. They conflate perceived correlation with causation in an effort...
Read More »Coinbase Is Struck By Another Power Outage
Following yesterday’s sudden, short-term bitcoin spike, Coinbase – one of the largest and most popular crypto exchanges in the United States – experienced an outage that prevented customers from taking advantage of the volatility.Coinbase Experiences Another Outage, and People Aren’t Too HappyThis seems to be a pattern with the trading platform as of late. Every time bitcoin spikes to $10K or experiences solid jumps very quickly, the exchange seems to stop working. The last time this occurred...
Read More »Cynical? New George Floyd Token Aims To Monetize The Unrest
The protests over George Floyd’s death in the US have escalated well beyond the country’s borders are people from the entire world are showing their support.However, what started as a peaceful demonstration become something much worse, as looters have destroyed and robbed a multitude of stores throughout the country.Amid all this turmoil, someone has created a somewhat cynical cryptocurrency called George Floyd token, perhaps aiming to monetize the ongoing unrest.George Floyd TokenGeorge...
Read More »After A False Breakout, Can Ethereum Finally Get Beyond $250? ETH Price Analysis
Ethereum surged by 15% over the past week of trading as it reaches $243.The coin broke above an ascending triangle pattern to end the consolidation during the week.Against Bitcoin, Ethereum has broken the upper boundary of a wide symmetrical triangle.Key Support & Resistance LevelsETH/USD:Support: $240, $225, $220.Resistance: $245, $250, $265.ETH/BTC:Support: 0.025 BTC, 0.0243 BTC, 0.0239 BTC.Resistance: 0.0255 BTC, 0.0259 BTC, 0.0263 BTC.ETH/USD: Ethereum In A Battle With $250After...
Read More »Cardano Overtakes Tezos As The 10th Largest Cryptocurrency. ADA Price Analysis & Overview
Cardano recorded 7% gains to reach $0.0917 in two days as bulls remain in chargeThe price is now facing a crucial resistance line on the hourly chartADA/USD: Cardano Holds Weekly Support At $0.074Key Resistance Levels: $0.0917, $0.095, $0.1Key Support Levels: $0.082, $0.074, $0.07ADA/USD. Source: TradingViewLast week, Cardano saw an impressive increase of almost 20% to reach a three-month high of $0.087 on Binance. The surge was led by a break above the important $0.07 resistance, which...
Read More »Bitcoin Price Analysis: $9000 Incoming? BTC’s After Another Failure To Break Critical Resistance
This week had been quite volatile, even for Bitcoin. After the primary cryptocurrency broke-up to the 2020 highs near $10.5K, followed by a quicker drop back below the same critical trend-line, BTC is left now at the same levels it was trading at for the majority of the past week.The bottom line is that Bitcoin has hard times dealing with the descending trend-line as can be seen on both charts below – the daily and the 4-hour chart.This trend-line was started forming a month ago when Bitcoin...
Read More »Japan Crypto Exchange Sets Up The Country’s Largest Banks To Examine Infrastructure For Digital Payments
The three largest banks in Japan will set up a study group to examine the benefits of building a common settlement infrastructure for digital payments. Local cryptocurrency exchange DeCurret will organize the group and the meetings, which should take place twice per month.Japan’s Largest Banks Look At Digital CurrenciesAccording to the recent report from the New York Times, the core banks in question behind the study group are Mitsubishi UFJ Financial Group Inc, Mizuho Financial Group Inc,...
Read More »US President Donald Trump Taps Bitcoin-Friendly Hester Peirce For A Second SEC Term
The President of the United States, Donald Trump, has tapped Hester Peirce for a second term as a member of the Securities and Exchange Commission (SEC) as her current one is set to expire on June 5th, 2020. Peirce is a vocal defendant of Bitcoin as she opposed the rejections of a Bitcoin-based ETF by the Commission.Hester Peirce For A Second Term At The SECAccording to a Bloomberg Law report from today, the President of the United States, Donald Trump, has nominated Hester Peirce for a...
Read More »