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Two major UAE banks, Dubai International Financial Centre (DIFC), and Mashreq Bank announced the launch of a new blockchain data-sharing platform. This announcement was made on the 1st of March 2020, offering a new platform that allows for the instant opening of digital bank accounts. Licensed businesses and corporations will have to verify their identities through an internal blockchain platform. This platform has gone live, open to all corporates and banks based in the UAE. Increased Change and Simplification Signifying…

The past few weeks have seen the BTC price dip below the $9,000 support against the USD. Despite attempts being made to bounce it back, it still ended up settling down below the 100 hourly simple moving average (SMA). BTC Upward Correction Prices recently dropped to a low of around $8,403, before making an upwards correction. Bitcoin is currently trading slightly above the $8,450 and $8,500 levels. A keynote was the recent break above a key bearish line, coupled with…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $245 billion. Bitcoin loses momentum and falls below $9,000 Ethereum value drops below the $220 support level. XRP ends at $0.23 and continues its depressing devaluation Concerns over the coronavirus spread along with the flu past China’s borders. Crypto Trends 24th Feb – 01st Mar 2020: PERFORMANCE & ANALYSIS The last week has seen…

There is a decline in premiums for the CME Bitcoin Futures contracts traded on a monthly, quarterly, and semi-annual basis relative to their week-on-week average. This finding is according to a recently compiled report by Arcane Research. Drop Surprise  Slated for an end of March expiry, these contracts saw a 0.60% CME increase and a 1.19% premium increase on unregulated exchanges. The June 2020 contracts on the other hand saw a drop of 2.71% and 3.29% premium and CME on…

While bitcoin mining is quite a profitable venture, it comes with a negative environmental impact that can't be ignored. Revealing research by PWC's Alex de Vries paints a very startling picture. About 98% of existing crypto mining hardware will become obsolete quite soon. That's a lot of e-waste in waiting. Shorter Life Spans of ASIC Miners Expected The competitive nature of mining is always on the increase thanks to sustained surges in hash rate and mining difficulty. In about 10…

Cryptocurrency whales are critical to the survival of blockchain-powered gambling apps, according to recent reports.  DappRadar pointed out that 80% of the value flowing through several decentralized gambling apps on the Ethereum, EOS and Tron networks comes from people with high net-worth. Benefits of  Whales to Blockchain-Powered Gambling Apps Whales exhibit outstanding sensitivity to nascent features on blockchain gambling apps and do not hesitate to leave one another when the likely returns change.  The report noted that without regard to…

Recently, Bitcoin received more attention with the imminent halving. Numerous individuals shared their thoughts on Bitcoin’s performance lately, as price oscillated. Individuals expressed their views on Bitcoin, capable of being a haven asset, a means of exchange, or as a tool for investment. Trace Mayer, Bitcoin Knowledge Podcast host, commented on Bitcoin’s performance and explained how the crypto asset helps people, where governments’ currencies are not usable. Mayer believes that Bitcoin empowers people to hold their keys, run their private…

Bitcoin is currently stuck in a range between $8300 and $9200, with no exact support barriers. The two levels are acting as heavy support and resistance, respectively. As per the records, anytime bitcoin sees a massive movement to either the upside or the downside, traders’ reaction triggers high liquidity levels. Many traders expect the BTC market to continue its bearish structure in the short term. Before that, most traders think a BTC relief rally is highly likely to occur. Analysts…

Recently, ThreatFabric identified a new variant of the Cerberus Trojan. Cerberus Trojan steals 2-factor authentication codes produced by the Google Authenticator app for internet banking and crypto exchanges. ThreatFabric is a cybersecurity firm specializing in financial industry threats. As per the reports, Cerberus Trojan was identified in June 2019, thus taking over from the infamous Anubis Trojan as the significant banking malware. Nevertheless, the threat lacked features that could allow it to lower its detection. In mid-January 2020, reports noted…