Crypto EcoBlog
Ola Cabs, an Indian transportation network company that provides peer-to-peer ridesharing, ride service hailing, taxi, and food delivery and serves more than 125 million drivers across 250 cities, is continuing its global expansion. The company has already expanded to Australia and New Zealand. In 2018, it started operating in the UK, across South Wales and the South West of England. In 2020, Ola is set to launch in London.Amid this launch, Ola has already signed up 10,000 drivers in London....
Read More »Is Bitcoin Already Oversold after Recording the Recent Plunge?
Today Bitcoin endured another fall, tumbling to the price level at $6,700 and drawing closer to the price level at $6,600.The cryptocurrency of the first choice has arrived at just $6,670.37 today, the most reduced level since late November. Now, the digital money has declined by over half from its 2019 high, as in June on the level at $13,879.21.Bitcoin continued a consistent descending pattern for a considerable length of time, during which time it exchanged to a descending channel.After...
Read More »State Street Announces Partnership with Gemini to Launch Crypto Asset Pilot
American financial services and holding company State Street Corporation has announced a new partnership with the Gemini crypto exchange and custodian firm, to test a new product that will perform reporting scenarios on digital assets held in custody with Gemini.According to the official State Street press release, the trial is the first of its kind and will first report on custody held on only two digital assets, citing issues with liquidity. The plan, however, is that the pilot will later...
Read More »Open Interest in Bakkt’s Bitcoin Futures Hits Record Highs of $7.02 Million
In what has been seen by many in the crypto space as a win, the open interest of the Bitcoin futures platform Bakkt has reached new all-time highs. Sources indicate that this occurred yesterday and that this shows fresh inflows from new entrants into the Bitcoin marketplace. Twitter’s BakktBot has further put the open interest at $7.02 million which shows strong trading activity on the Intercontinental Exchange-managed platform and also greater liquidity within the Bitcoin futures market in...
Read More »Pound Slips 1% as Reports Suggest Boris Johnson Won’t Extend Post-Brexit Transition Period
During the early trade on Tuesday, December 17, pound sterling fell more than 1% as several media reports suggested that U.K. Prime Minister Boris Johnson pledged to not delay the Brexit transition period by the end of 2020.As per the Bloomberg report, Johnson’s planned legislation will have a legal text that prevents the British government from further delaying the day when Britain disconnects itself from the EU laws, even if no new trade terms are secured in the stipulated time period.As...
Read More »Uber to Offload Uber Eats India to Zomato as It Aggressively Cuts Losses
Uber is reportedly very close to selling off its Uber Eats food delivery business in India. According to a TechCrunch report citing three people familiar with the matter, Uber is at the final stages of negotiations with Indian rival company, Zomato. If negotiations are successful, Zomato will take it over.Valued at more than $2 billion, Zomato is easily one of the largest food delivery businesses in India and hasn’t made it very easy for Uber Eats since the latter launched in May 2017. The...
Read More »U.S. Stocks Rise to New Highs Four Days in Row
U.S. markets seem to have responded positively to the recent first phase of the trade deal that has partially solved the current impasse between the United States and the People’s Republic of China. Sources indicate that yesterday’s gains were the fourth straight day that the United States markets were in the green. According to reports, the S&P 500 gained 0.7% to end the day at 3,191.45 while the Nasdaq Composite jumped 0.9% to 8,814.23 while the Dow Jones Industrial Average (DJIA) went...
Read More »Bitcoin Tanks Below $7000 as PlusToken Scammers Cash Out
In yet another major sell-off Bitcoin price crashed below its crucial support of $7000 on Monday, December 16. As per blockchain researcher Chainalysis, this dumping is part of another major scam brewing in the crypto industry.In its report, Chainalysis mentions a China-based Ponzi scheme PlusToken which is dumping its crypto holdings to cash out. PlusToken, a cryptocurrency wallet, trapped investors by promising high returns to those purchasing their native PLUS cryptocurrency against...
Read More »Intel Invests $2 Billion to Acquire AI Chip Startup Habana Labs
On December 16, Intel announced that it had acquired Habana Labs in a clear indication that it aims to venture deep into the AI chip market. Habana is an Israel-based developer of programmable AI and machine learning accelerators that are used for cloud datacenters. Analysts estimate that this deal is worth about $2 billion.Intel further stated that it will enhance its AI strategy as Habana starts sampling its proprietary silicon to customers. Last November, Habana raised $75 million in...
Read More »Top 7 Referral Programs in Crypto Trade: Where to Go and What to Expect
When some folks claim they’re into cryptocurrencies because of the thrill of the blockchain… well, they’re lying for the most part. Or at the very least not revealing everything. All things aside, it’s about the profits. How can I make money? How can I do it fast? How can I do it legitimately and securely?Whereas media sources nowadays bombard their readers and viewers with a zillion ways to make a quick buck by trading, exchanging, and investing into cryptocurrencies, there exist other, more...
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