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Virtual Consensus 2020 Kicks Off with ECB Official Discussing CBDC

Virtual Consensus 2020 Kicks Off with ECB Official Discussing CBDC

Major cryptocurrency event, Consensus 2020, has officially kicked off in virtual mode. Consensus: Distributed, Coindesk’s first ever fully virtual conference, featured European Central Bank (ECB) key legal official, Yves Mersch, as the first speaker.

On May 11, ECB board member Mersch delivered an exclusive keynote devoted to central bank digital currencies (CBDC), a central bank digital currency that can be used by consumers. Speaking at 6:45 a.m. ET, the ECB official outlined that the bank is mainly focused on a retail implementation of CBDC. read more

Calm Before the Halving: Bitcoin Pending Transactions at Weekly Low

Calm Before the Halving: Bitcoin Pending Transactions at Weekly Low


As Bitcoin (BTC) halving is set to occur in less than eight hours, the blockchain is currently registering a slowdown in activity. 

A mempool visualization website shows that the number of pending transactions currently sits at around 4,000 — about two blocks worth of transfers.

While the blockchain is never fully cleared due to a continuous stream of new transactions, the demand appears to be low enough that the network is able to dispatch all incoming requests.

This is not entirely unusual, as demand varies heavily between different times of day. The last time that the mempool was “empty” was on May 6, according to the data. read more

South Korea Sees Influx of Blockchain Platforms for Unlisted Stocks

South Korea Sees Influx of Blockchain Platforms for Unlisted Stocks

The South Korean blockchain space is seeing a steady stream of platforms specialized in trading for unlisted stocks, following on from a major offering from state-backed financial IT firm Koscom last year.

Business Korea cites two unnamed industry sources on May 11, who have claimed that two further platforms from Kakao-backed Dunamu and PSX will be launching this September and in February 2021. Local commentators expect the provision of secure trading venues for unlisted stocks to boost investment in local start-ups, the report notes. read more

Bitcoin Price Charts Hint at Sub-$8K After Halving Hype Fades

Bitcoin Price Charts Hint at Sub-$8K After Halving Hype Fades


The price of Bitcoin (BTC) touched $10,000 last week but crashed more than $2,000 from Saturday to Sunday as the price hit $8,100. Is the halving hype over a la “buy the rumor, sell the news” for the top-ranked cryptocurrency? 

The halving is less than twelve hours away, so what can be expected from the markets with that event happening? 

Crypto market daily performance. Source: Coin360

The price of Bitcoin crashes to $7,900 after halving?

Unfortunately, this seems the most likely cause. The halving is usually a classic example of the “sell the news” concept when investors buy into the event, expecting it to have a bullish outcome. read more

Four Ways to Pimp Your Wardrobe Ahead of the Bitcoin Halving

Four Ways to Pimp Your Wardrobe Ahead of the Bitcoin Halving

While there is a seemingly endless stream of advice in the fashion press and on social media, covering how to dress for almost any occasion, there has thus far been one very conspicuous omission.

How should the discerning Bitcoiner-about-town choose to attire themselves for a once-in-a four years halving event? Allow Cointelegraph to come to your assistance… Rekt-ified.

Celebrating the halving from head to toe

Let’s start by covering the extremities. No well-dressed halving head is complete without a hat. After all, even though it’s already May, let’s not rule out the possibility that a rogue breeze will arise to play havoc with your perfectly-coiffed halving-barnet. Of course, in the cryptocurrency world, your standard hat of choice (Brock Pierce notwithstanding) would have to be a baseball cap. read more

Record Bitcoin Futures Gap: 4 Things to Know for BTC Price This Week

Record Bitcoin Futures Gap: 4 Things to Know for BTC Price This Week


Bitcoin (BTC) has delivered awe-inspiring volatility in the days before its third block reward halving — but what should traders look out for as the event hits?

Cointelegraph takes a look at what factors to consider for traders and hodlers in one of the top-ranked cryptocurrency’s most important weeks so far.

A record Bitcoin futures gap hits

Monday is on track to open with seemingly the largest Bitcoin futures gap in history — over $1,200.

Futures gaps occur when the start of one weekly trading session on futures markets is substantially different from where they left off at the end of the previous week. read more

DBS Bank Joins Global Blockchain Network to Digitize Trade Settlement

DBS Bank Joins Global Blockchain Network to Digitize Trade Settlement

Singapore-based multinational banking firm DBS Bank has joined the blockchain trade-finance network Contour, which is built over R3’s Corda. Contour is due for a main-launch later this year.

According to a May 11 report by the business news outlet The Business Times, DBS Bank is the first bank from Singapore to join the network. Major institutions such as BNP Paribas, Bangkok Bank, ING, HSBC, Standard Chartered and Citi Ventures founded Contour.

Digitizing for efficiency

DBS looks forward to digitizing its end-to-end letters of credit settlement process through the platform’s blockchain solutions. The bank aims to reduce settlement time, decrease the amount of paperwork, and simplify the trading process. read more

Average BTC Transaction Fees Increased 300% Days Before Halving

Average BTC Transaction Fees Increased 300% Days Before Halving


With the third Bitcoin rewards halving scheduled in approximately 14 hours at the time of press, the average value of transaction fees has surged more than 300%.

According to data available on Bitinfocharts, the average transaction fees for Bitcoin (BTC) on May 8 peaked at $3.19, an increase of over 300% from the average fee on April 26, $0.62. The last time the average BTC transaction fee was over $3.00 was in July 2019.

Source: Bitinfocharts

Historically, Bitcoin transaction fees prior to a halving event have increased markedly. The last halving on July 9, 2016 saw transaction fees skyrocket in the weeks prior, even briefly peaking at an average of $0.62/transaction when the value was around $0.10 within a 24-hour window. read more

SBI Holdings CEO: Ripple Partners Could Help Pandemic Supply Chain

SBI Holdings CEO: Ripple Partners Could Help Pandemic Supply Chain

Yoshitaka Kitao, Chief Executive Officer (CEO) of Japanese financial giant SBI Holdings, has proposed Ripple partner with multinational companies in addition to financial institutions. His recommendation was partially influenced by Japan’s handling of the COVID-19 pandemic.

Kitao, also a Ripple board member, talked to reporters gathered for an SBI conference call on April 28. The CEO said that his lawyers would attend Ripple’s next executive committee and asked them to promote new partnerships with multinational corporations like Big Shosha, a Japanese trading company.  read more

Tokenized Real Estate Booms While Security Tokens Struggle

Tokenized Real Estate Booms While Security Tokens Struggle

Real estate tokens have continued to post a positive performance for investors, gaining an average of 4.27% during April while top securities tokens suffered losses for the month.

The combined capitalization of security tokens fell 8% in total — comprising one of the worst months on record for the nascent sector according to a report published by Security Token Group.

April also saw the combined trading activity for security tokens plummet by 38%.

Real estate tokens post April price gains

The real estate token markets for single-family homes on Patton St, Lesure St, and an apparent building on Appoline St in Detroit all saw big gains in volume this month. read more

Bitcoin Price Bounces at Key Trendline Support 1 Day Before BTC Halving

Bitcoin Price Bounces at Key Trendline Support 1 Day Before BTC Halving


In the last 3 hours Bitcoin (BTC) price gained 2.63% after dropping to $8,256 earlier in the day. With just less than 24-hours before the block reward halving is scheduled to take place, traders are likely biting their nails and anxious to see if the top ranked crypto-asset on CoinMarketCap will be able to reclaim $9,000. 

Crypto market weekly price chart. Source: Coin360

Today’s drop to $8,256 brought the Bitcoin price below the ascending channel trendline for the second time in 24-hours and traders again purchased into the dip, allowing the price to quickly rebound to $8,784.  read more

Loom Network Responds to Rumors of the Project’s Demise

Loom Network Responds to Rumors of the Project’s Demise

On May 9, we wrote that the Loom Network, a platform-as-as-service blockchain project, appeared to no longer be active. Representatives from the platform have since responded publicly to Cointelegraph, indicating that the project is, in fact, alive and well.

Communication in stasis

Following the departure of the network’s CEO, the project announced that it would be pivoting away from its original business model into an enterprise-facing solution. In the weeks that followed, a number of the Loom Network’s validators abandoned the project, with one calling the network dead in a March 31 tweet. read more

$270M in Longs Liquidated as Pre-Halving Hype Backfires

$270M in Longs Liquidated as Pre-Halving Hype Backfires

Yesterday’s sudden crash saw the price of Bitcoin (BTC) fall 14% from roughly $9,450 to $8,101 in less than 15 minutes. This appears to have shaken out over-exuberant margin traders who longed near $10,000 on heavy margin.

According to market data aggregator, Cryptometer, over $295 million worth liquidations occurred on BitMEX alone — 98% of which were long positions. By contrast, liquidated shorts totaled $5.7 million.

$290M liquidated on BitMEX in 24 hours

Roughly 93% of yesterday’s liquidations took place in BitMEX’s XBT/USD markets, with Ripple (XRP) liquidations representing 4.1% with $12.3 million, and Ethereum (ETH) margin calls comprising 2.2% with $6.5 million.  read more

Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish

Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish


With Bitcoin’s (BTC) third mining rewards halving just over 24 hours away, mainstream market hype surrounding the event has grown exponentially, especially after balancing on the $10K threshold for some time. On May 9, BTC dropped to the $8,100 mark before making a small recovery to around $8,800.

Nevertheless, the fact that BTC has overall been able to stave off bearish market pressure instilled a certain amount of confidence in the hearts of investors all over the globe — despite Bitcoin facing a 15% value slip on May 9. read more

Bitcoin Tests $10,000, ‘Halving Dump,’ $1M BTC Predicted: Hodler’s Digest, May 4–10

Bitcoin Tests $10,000, ‘Halving Dump,’ $1M BTC Predicted: Hodler’s Digest, May 4–10


Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Three reasons for the Bitcoin “halving dump” from $10,000 to $8,100

We’re less than 48 hours away from “the halvening” — and there’s been no end of drama over the past week. Initially, there was hype as Bitcoin soared, with the world’s biggest cryptocurrency testing $10,000. But over the weekend, a dramatic and sudden sell-off began — a sharp correction that caused BTC to slide all the way back to $8,100. Bitcoin plunged by 9% in a single hour as it failed to tackle the $10,200-to-$10,500 range, which has historically served as a strong level of resistance. Some analysts had been arguing that a sell-off was inevitable because BTC was overbought, but even they were predicting that this would happen after the halving. The big question now is whether that “fear of missing out” remains, whether Bitcoin can bounce back, and whether crypto executives, such as Decred Founder Joseph Young, believe prices will “roughly double” in the short term. read more