High DeFi yields could threaten ETH 2.0 staking participation: ConsenSys

The latest Q3 DeFi report from ConsenSys expresses concern about DeFi’s threat to ETH 2.0 staking The rise of DeFi and high yielding liquidity provision opportunities could act as a barrier to participation in staking when ETH 2.0 Phase 0 finally launches according to a new report. The ConsenSys Q3 DeFi Report has taken a deep dive into emerging trends and warns that staking on Ethereum’s forthcoming Beacon Chain may be limited by better earning opportunities on decentralized finance protocols. ConsenSys believes it’s likely that Phase 0 of the ETH…

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‘Game changing’ blockchain program tracks mangoes in Australia

“The impact of this project will extend beyond the mango industry,” said CRCNA CEO Jed Matz. Following a 2.5 year-long pilot program, an Australia mango producer is scaling up its use of blockchain technology for supply chain traceability. According to the Cooperative Research Centre for Developing Northern Australia, or CRCNA, the organization partnered with leading Australian mango producer Manbulloo and traceability software company Trust Provenance to test a supply chain management program across their supply chain and distribution centers in Queensland and the Northern Territory. The project, which kicked off…

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Bitcoin can’t help bank the unbanked claims Mastercard CEO

The CEO of Mastercard believes Bitcoin is too volatile and opaque to drive financial inclusion, however, CBDCs are a different story. Bitcoin cannot function as an inclusive currency for the unbanked due to its volatility, Mastercard CEO Ajay Banga said during Tuesday’s Fortune Global Forum conference. He also cited a lack of knowledge about who is behind the cryptocurrency as concerning. “I am not a believer in the volatility or, for that matter, the absence of transparency in who is the person who’s involved with that currency. So, that’s why…

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‘Hyperinflation’ DeFi coins hit the hardest in crash: Report

A large number of DeFi governance tokens are still way down from their peaks as farmers take profits. Many high inflation decentralized finance tokens are still correcting despite Bitcoin’s push to new yearly highs. Research by IntoTheBlock suggests that DeFi token prices and protocol metrics have diverged significantly since September. Total value locked has dropped around $1 billion over the past few days but remains near its all-time highs. Token prices are still in the red, however, and many have slumped over 50% from their previous highs. The report claims…

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Awesome interactive NFT artwork shows effects of sponsoring kids

Anyone who holds a copy of the NFT will see it change as the Bitcoin donations come in. A former baseball player has created a non-fungible token, time-sensitive artwork piece that allows crypto holders to donate Bitcoin to enable two African American boys to fulfill their dreams. According to a representative for the artist, former Tampa Bay Rays player Micah Johnson, marketplace Async Art will be making NFT artwork available starting on Oct. 29. The NFT is programmed to show the effects that Bitcoin (BTC) donations will have on the…

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Cuban freedom fighters launch underground Bitcoin remittance network

Fiat trades are often completed for a sizable fee by bike-riding crypto enthusiasts. Cubans are finding new ways to circumvent the embargo sanctions imposed by the U.S. government back in 1962. According to an October 26 report by Cuba’s AFP news agency, remittances sent from the U.S. to Cuba often pass through a clandestine network of “crypto enthusiasts” before being converted into Cuban pesos. Erich García, a 33-year-old programmer and local YouTuber, told AFP that anyone who wants to send remittances to the island must buy Bitcoin and send it through…

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Why traders say $13,875 will be the next ‘logical’ Bitcoin price resistance

Bitcoin price is moving toward $14K but traders expect the $13,875 resistance to be a critical level for the short term. The price of Bitcoin (BTC) has surpassed $13,745 and is now en-route to the next major resistance level. Traders have suggested that $13,875 is the nex key short-term area for BTC for two major reasons. First, Bitcoin peaked at $13,970 on Jun. 26, 2019. Technically, the previous peak achieved more than a year ago still serves as an important area for sellers. Second, technical analysts say that the weekly candle…

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VC calls Ethereum killers ‘toothless’ based on token allocation to insiders

Only two of Ethereum’s recent competitors had a “fair launch” according to the specified criteria. Mythos Capital founder Ryan Sean Adams called Ethereum killers “toothless” based on initial token allocation schemes that often prioritize insiders: Source: Twitter. Adams was referring to a recent Messari report, which summarized the token distribution for some of the most popular Ethereum (ETH) alternatives launched in the last couple of years. There are four main distribution categories: public presale, community allocations, insiders, and each project’s respective foundations. Source: Messari. The report’s authors suggest that the…

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Bitcoin investing interest up 19% compared to 2019, Grayscale report says

Grayscale’s poll found that the majority of people they spoke with were interested in Bitcoin. Crypto investing firm Grayscale recently released its 2020 Bitcoin Investor Study. The report used data from a survey which digitally polled a sizable number of individuals in the U.S. between June and July. Grayscale found the majority of the surveyed people were keen on buying Bitcoin (BTC). “In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products,” Grayscale wrote in its October 2020 report. “This marks a significant increase from the 36%…

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MicroStrategy’s crypto holdings may be paying off more than its business

With Bitcoin’s rises past $13,700, the company’s BTC holdings are currently worth more than $525M. Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit.  According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020. Rooke’s data shows that the business intelligence firm’s 38,250 BTC holdings — worth roughly $425 million…

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