Blockchain Platform EOS Raised $4 Billion and Has Dropped Over 30% Since

In the period between June 2017 and 2018, Block.one raised $4 billion via the sales of its native cryptocurrency, EOS. More than a year later, the token associated with the Cayman Islands-based startup has lost over 30 percent of its value due to massive price declines and a lack of authentic users. The EOS-to-dollar exchange rate currently sits at approx $2.79 after peaking at $23.02 in April 2018. Like in the case of every other cryptocurrency, EOS too became a victim of massive dumping that occurred during the 2018’s so-called…

$100 Billion in Bitcoin Hasn’t Moved in Over 1 Year, And Its Bullish

The cumulative sum in dormant bitcoin addresses surpassed 12.58 million BTC, worth just about $100 billion at current price. It indicates most investors are holding strong despite volatility in the market. It also demonstrates that amidst one of the steepest falls in recent history from $13,900 to $6,410, the majority of investors were holding onto bitcoin, as pointed out by a researcher known as Rhythm. Its an optimistic macro indicator for bitcoin In the short-term, the price movement of bitcoin is likely to be swayed by trends in the margin…

Telegram Refusing to Tell SEC How It Spent $1.7 Billion of ICO Cash

The United States Securities and Exchange Commission (SEC) has filed a court order on Jan. 2 to compel the messaging platform Telegram into releasing details of how the funds raised in its initial coin offering, or ICO, have been spent. The SEC claims that the requested records are highly relevant to its ongoing case against Telegram, alleging that the $1.7 billion raised selling Gram tokens constituted an unregistered securities sale. Request for information The filing requests both testimony and documentation from Telegram relating to the amounts, sources and use of…

XRP Price Stable as Ripple Unlocks 1 Billion Tokens From Escrow Wallet

Ripple, the blockchain payment network notionally tied to altcoin XRP, has begun 2020 by releasing funds from its escrow worth $192 million.  Data scanned from the XRP blockchain by monitoring resource Whale Alert caught the latest consignment of XRP tokens, which forms one installment of a pre-planned release schedule Ripple began in 2017.  Ripple continues 55-month escrow schedule In a blog post at the time, officials explained that they would lock up 55 billion XRP, releasing funds each month over 55 months.  The reason, they said, was to incentivize investors…

Cardano’s Shelley Testnet Starts Off With More Than 5 Billion Staked ADA

Within 24 hours of Cardano’s testnet going live, Cardano (ADA) holders have staked more than 5 billion ADA coins, worth around $195 million. On Dec. 15, IOHK took to Twitter to report that more than 240 staking pools have gone online since Shelley went live, with about 120 staking pools during the first day of operation alone. According to Shelley’s roadmap, IOHK is well on its way to reaching its target of 1,000 staking pools. They tweeted: “Our incredible #CardanoCommunity have put in a remarkable effort this weekend, with over…

Almost $9 Billion of Bitcoin Moved On-Chain in 1 Hour: Record

On Dec. 4, $8.9 billion in Bitcoin (BTC) were moved on the blockchain in a single hour, excluding change volume, which is Bitcoin that returns to the sender. Bitcoin’s high transaction volume was pointed out by Rafael Schultze-Kraft, the co-founder of on-chain market intelligence firm Glassnode. In a tweet on Dec. 4, he claimed that such a high hourly transaction value was a first for the network: “It’s the highest hourly USD transaction volume in Bitcoin’s history.” Bitcoin hourly on-chain transaction volume in U.S. dollars. Source: tweet Bittrex is responsible…

Ripple Transfers 1 Billion XRP Tokens From Escrow Wallet and Back Again

Whale Alert, the ever-vigilant live tracker for cryptocurrency transactions, noted that Ripple transferred a total of 1 billion XRP tokens from its escrow wallet on Dec. 2. The blockchain-based payments firm moved the massive amount of tokens in two separate transactions, worth around $219 million in total as of press time. Interestingly, the company transferred the exact same amount of tokens back into escrow only seven minutes later, this time in three separate transactions. Is Ripple crashing the token’s price? This isn’t the first time that Ripple has executed such…

Blockchain Can Reduce Food Fraud By $31 Billion Within 5 Years

The food industry could save up to $31 billion in global fraud savings by tracking food on its way from farms to consumers via the blockchain. A Nov. 25 study by Juniper Research reveals that blockchain technology, in combination with Internet of Things (IoT) sensors and trackers, will greatly reduce retailers’ costs by streamlining supply chains, while simplifying regulatory compliance, offering more efficient food recalls, and tackling fraud. The study points out that the increased adoption of blockchain and IoT in the supply chain industry will add significant value to…