Tesla Stock Soars Above $1,000, Surpassing Bitcoin’s Market Cap

Today the value of Tesla stock set a new record high at $1,027, bringing the market capitalization to $188 billion, and also surpassing the total market cap of Bitcoin (BTC), which hovers at $181 billion. While the value of Tesla stock and Bitcoin price are not interconnected, there is a symbolic comparison between the two as the same investor FOMO which drove several Bitcoin rallies in the past appears to be present in the stock market. The stock price of Tesla hits an all-time high. Source: Tradingview Will the FOMO…

Coinbase Exploring Support for 18 New Digital Assets

The largest cryptocurrency exchange in the United States is considering offering support for a variety of new digital assets. According to a June 10 blog post from Coinbase, the exchange is exploring support for Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Network, Siacoin, SKALE Network, Synthetix, and VeChain. However, Coinbase is not considering adding Siafunds. Coinbase did not give a timeline for listing these assets. The blog said the process required “significant technical and compliance review” in addition to some regulatory…

Chinese Stakeholders Don’t Want to Share Their Personal Data With Government Run Blockchains

Chinese local governments are facing difficulties when implementing blockchain applications due to stakeholders unwillingness to share privately owned data, according to a local report on June 10. Data is king According to the investigation, there are more than 30 related local governments procuring blockchain technology. Their aim is to leverage blockchain to build management platforms that improve local administrative and social governance capabilities. Some of these projects have been forced to shut down in under two years, according to the news due to lack of supporting data. The reason? Many…

Coinbase Unveils USDT Custody, Then Deletes Announcement

Coinbase Custody, an international institutional cryptocurrency holdings arm of well-known U.S. exchange Coinbase, announced compatibility for stablecoin Tether (USDT), only to delete traces of the announcement shortly thereafter.  Coinbase Custody, as well as Tether CTO Paolo Ardoino, unveiled a USDT listing on the Coinbase platform in May 30 tweets, according to CoinDesk reporting on June 10. The tweets have since been deleted at some point between their posting and the June 10 report.   We will update as further details come in. Source link

3 Reasons Why Bitcoin Price Continues to Reject at $10,000

Within the last hour Bitcoin (BTC) price rose to $10,180 on BitMEX before quickly reversing to $9,600. The quick rejection means that for the third time in 30 days Bitcoin price has rejected at the $10,000 resistance level. Three factors that may have contributed to the volatility are: the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the liquidation of $14 million worth of short contracts, and the continued resilience of the multi-year resistance area from $10,000-$10,500. BTC paints a darth maul candle at BitMEX. Source: Tradingview The Fed’s FOMC…

Bithumb Shares Insights on That $2.6M ETH Transaction

According to Bithumb, the 0.55 Ethers (ETH) that incurred a $2.6 million transaction fee ended up in one of the exchange’s wallets. Mistake or money laundering? Earlier today, someone paid 10,668.73 Ethers in gas to move $134 worth of the asset from one wallet to another. For comparison, today’s average gas price is $0.34. The most natural assumption is that the sender must have made a mistake. Though the sender has not come forward, SparkPool, the miner that mined the transaction’s block, has frozen it until they can figure out…

CrossTower Joins the Crypto Rating Council

Cryptocurrency exchange CrossTower is now part of the Crypto Rating Council, or CRC. They join as the council’s newest member, alongside 11 other industry companies. According to the announcement on June 10, the CRC were pleased to select the New York-based firm to join the group. Their existing membership includes Coinbase, Cumberland, Anchorage, and Genesis Global Trading. The CRC states that its mission is to provide a “more systematic” U.S. securities law analytical framework for crypto assets, promoting regulatory clarity in the industry. Offering a clear picture on the U.S.…

Filecoin Enters Final Frontier Prior to Mainnet

Blockchain-based decentralized data storage solution Filecoin unveiled its testnet recently, complete with a competition.  In an act of network experimentation, Filecoin’s test network will host a three week mining contest worldwide, with 4 million of the project’s FIL tokens up for grabs as prize funding, according to a June 10 statement provided to Cointelegraph.  Mainnet — the final frontier A product of tech firm Protocol Labs, Filecoin garnered $257 million during its 2017 Initial Coin Offering, or ICO.  Filecoin has completed other trials prior to the testnet unveiling, the statement…

South Korean Merchants Open to Accepting Digital Yuan

South Korean media outlets suggest that local merchants could accept the upcoming digital yuan as a payment method once the COVID-19 pandemic passes and Chinese tourist flow increases in the country. According to news agency Yonhap, domestic merchants have been increasingly considering taking advantage of China’s upcoming digital currency, citing some tourist shops in their examples. Taking advantage of Chinese tourism The report details that in Seoul’s Myeongdong district, some stores have been accepting payments using Alipay, thus showing interest in customers from China. Reports indicate that the COVID-19 crisis has caused…