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Bitcoin Consolidates Below $ 14k
Bitcoin began a downward correction after forming a high around the $ 14,080 level.
The trendline is close to the 61.8% Fibonacci retracement level of the upward movement from the swing low of $ 13,430 to the high of $ 14,076. The 100-hour simple moving average also follows the trend line at $ 13,850.
As long as the bitcoin price is above the trendline support and the 100-hour SMA, it could start a new rally. On the other hand, initial resistance is around the $ 13,800 level. Major resistance is found around the $ 14,000 level.
eToroX is the first major exchange to support the Flare Network
eToro Announces Plans to Take Part in the highly anticipated Spark Airdrop
EToro, a multi-asset investment platform, is announcing plans to take part in the highly anticipated Spark airdrop, making it the first major exchange to support the Flare project. EToro’s global network of 16 million registered users will have access to a new smart contract token.
DeFi Locked Cryptocurrency Level Drops In The First Month After Bull Run
DeFi’s sluggish month suggests that the bullish growth in decentralized finance is over.
According to the metrics site DeFi Pulse, $ 11.28 billion was locked in DeFi protocols on Oct. 1. On October 31st, $ 11 billion was locked in DeFi protocols.
Ethereum blockchain selected by the Reserve Bank of Australia to issue CBDC
Reserve Bank of Australia Reveals Its Plan to Launch Wholesale CBDC on Ethereum Blockchain
The Reserve Bank of Australia has begun exploring the possibility of using a central bank tokenized digital currency that will run on the Ethereum blockchain.
ETH 2.0 Developers Are Ready to “Trigger Everything”
The developers working on Ethereum 2.0 have announced that they are very close to the long-awaited genesis of the Beacon Chain.
The latest blog post from ConsenSys developer Ben Edgington suggests things are very close to Ethereum 2.0’s highly anticipated Phase 0 launch.
Edgington said the results are expected this week, although there are still a few rough points and improvements that need to be made.
The Medalla Beacon Chain testnet will soon be reinitialized after a three week hiatus due to validator inactivity. Achieving the ultimate network result requires two-thirds of the validators to be online and participating, but recently this figure has dropped to about 50%.
Genesis Beacon Chain
Traders Apathetic As Huobi Launches Two New Wrapped Assets On Ethereum
Ethereum traders are oblivious to Huobi’s latest packaged assets, including BSV and LTC.
Following the success of HBTC – a wrapped Bitcoin traded on Ethereum, currently providing around $ 70 million in BTC – Huobi Global has released the latest series of “H-tokens”: Litecoin and Bitcoin SV.
The series of H-tokens, first announced in September, promised to bring a wide range of assets to Ethereum. Huobi CIO and Huobi DeFi Labs CEO Charlene Wu said in a press release that the proposals will aim to empower the decentralized finance ecosystem with a wide range of secured, wrapped assets.
Huobi Launches Two Wrapped Assets
Only 8% of all verified decentralized exchanges are safe
Despite the relatively frequent checks, most decentralized exchanges are not considered safe.
CER reviewed 25 DEXs and based its final results on a number of factors including security audit history, bug bounty program, cold wallet direct support, liquidity assessment, data provision, and more.
The ratings ranged from one to ten. As expected, the higher the final number, the more secure and reliable the platform should be.
Maker Foundation joins Binance, LG on Klaytn’s Governance Council
Klaytn, a blockchain project has announced that the Maker Foundation has joined the Klaytn Public Blockchain Governing Board.
The Maker Foundation is the 32nd member to join the Kleitne Co-Governance Consortium, which has joined large multinational companies such as LG Electronics, Binance, Celltrion and Union Bank of the Philippines.
Admission to the council will lead to closer cooperation between the two parties. The Maker Foundation will now operate on a network of consensus nodes and will take over ownership of the platform.
Bitcoin and DeFi Pull Crypto Hedge Funds To Commit Over 100% Profit In 2020
Bitcoin and cryptocurrency hedge funds have made significant strides so far in 2020.
Thanks to bitcoin and the recent explosive growth in the aggregate cryptocurrency market, BTC and crypto hedge funds reportedly posted gains above 100 percent. This comes amid growing sentiment of banks shying away from getting quick loans with digital assets.