Tether Integrates With Plasma Sidechain to Reduce Load on Ethereum

Bitfinex’s Tether (USDT) stablecoin is now available on the OMG Network, a plasma-based Ethereum sidechain launched on June 1 by the project formerly known as OmiseGo. The integration, also announced on June 1, marks the first time that Tether integrated an Ethereum sidechain to boost its performance. Tether is by far the largest “gas guzzler” on the Ethereum network at 8,900 ETH (about $1.84 million) in fees spent last month, according to ETH Gas Station. This is more than the next five protocols combined, one of which is reportedly a…

Bitmain Launches New T19 Bitcoin Miner After S17’s Troubled Launch

World-leading mining hardware producer Bitmain launched its new Antminer T19 Bitcoin Mining application-specific integrated circuit (ASIC). According to a June 1 announcement, Bitmain’s new Antminer T19 features a SHA256 hash rate of 84 terahash/second with a 3% error margin and a power efficiency of 37.5 joules/terahash with a 5% error margin.  The new ASIC model will be sold on the producer’s official website starting today and shipments will start between June 21 and 30. The chips used in the new device are the same as those featured in the Antminer…

4 Indicators Show Bitcoin Has a “High Chance” of Falling in Next 2 Weeks: Analyst

Bitcoin has mounted a strong recovery since the lows seen last week. The leading cryptocurrency traded as high as $9,750 on Saturday, over 13% higher than last weekend’s lows. Even still, there remain textbook technical indicators suggesting there is a “high chance” BTC sees a correction in the coming weeks. According to the analyst that made this observation, this may be the largest correction Bitcoin has seen since March’s capitulation event. Watch Out: Bitcoin Could Fall in the Next 2 Weeks BTC may have bounced strongly since last week’s correction…

Music Video Director for Pop Superstars Dives Into Crypto Trading

Joseph Kahn, a music video director who has worked for the world’s leading pop stars for over two decades, has announced that trading crypto assets is his new favorite hobby. After claiming to have spent the past month trading cryptocurrency, Kahn purports a profit of roughly $450  On June 1, Kahn took to Twitter announcing that he has spent the last month trading crypto assets. A screenshot shows Kahn’s portfolio to be valued at $7,949, with the hobbyist trader claiming to have gained 6% since investing $7,500 one month ago.…

Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely

Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. ETH price is likely to continue higher above the $245 and $250 resistance levels. Ethereum started a downside correction from the $250 resistance zone. The price corrected below the $240 level, but it found support near the $230 level. There is a major bullish trend line forming with support near $232 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above the $245 and $250 resistance…

Stocks, Safe Havens and Hodlers — 5 Things to Eye in Bitcoin This Week

Bitcoin (BTC) is going into the third week of its new halving cycle just $550 away from five figures — but what could really impact price this week?  Cointelegraph takes a look at the main factors that could help — or hinder — the biggest cryptocurrency over the coming days.  Stocks and oil contrast with stable BTC Traditional markets are off to a rocky start this week. Protests in the United States have coupled with President Donald Trump’s softer response to China over Hong Kong to worry already panicky stocks.…

Historic SpaceX Launch Visible in Ethereum-Based VR World

The first launch of a space vehicle built in and launched from the United States in almost a decade wasn’t just viewable on NASA’s YouTube channel — users of the Ethereum-based virtual reality world Decentraland got front row seats. Decentraland said in a May 30 tweet that the recent SpaceX launch would be available live in its VR world. Users were able to watch the event in the environment’s virtual auditorium as Elon Musk sent two humans into orbit in the first private, manned spacecraft launch in history. Screenshot of…

Drop in Oil Prices Give US Miners a Competitive Edge

Bitcoin educator Andreas Antonopoulos sees the recent downturn in oil prices as a net positive for crypto miners worldwide, particularly those at the Bitmain mining facility in Texas. In a video he posted to his YouTube channel on May 27 titled “Down the Rabbit Hole”, Antonopoulos said the falling oil prices will benefit crypto miners by providing cheaper electricity worldwide, but “not equally worldwide.”  Miners based in the United States — which gets 36% of its energy from petroleum — and Texas in particular will reap the rewards of these…

Weaker Yuan Could Lead to a Stronger Bitcoin

Japanese crypto firm FXCoin’s senior strategist thinks a depreciation of the Chinese yuan may lead more traders to Bitcoin in 2020.  FXCoin’s Yasuo Matsuda spoke to Cointelegraph Japan, saying Bitcoin (BTC) would likely be more popular among Chinese nationals facing economic sanctions due to national security laws as part of the government’s response to the COVID-19 pandemic.  The strategist said people in China would be “frustrated with the recession of the domestic economy” and looking for an escape: China’s strong position on legislation like the enactment of the Hong Kong…

Bitcoin Above $9,750 Would Make Case for Larger Rally: Here’s Why

Bitcoin is trading nicely above the $9,400 support zone against the US Dollar. BTC price is likely to continue higher towards $10,000 if it clears $9,600 and $9.750. Bitcoin is trading with a positive bias above the $9,400 support zone. The price could struggle to clear the $9,600 and $9,750 resistance levels in the short term. There was a break above a key contracting triangle with resistance near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if it…