Another week, another round of Crypto Tidbits. It would be fair to say that the last seven days for Bitcoin (BTC) have been rather spectacular. Aside from the mainly bullish price, which brought cryptocurrency to $ 8,650 for the first time in weeks, instrumental developments in the industry have been numerous.
Twitter general manager Jack Dorsey has doubled his support for Bitcoin, congratulating him again for his potential to become the global digital currency. Uber, Lyft and Spotify proved to be the support for Facebook's impending cryptocurrency. And Bakkt finally announced that he would soon start testing his Bitcoin term vehicle, supposed to improve institutional adoption at all levels.
Related Reading: Crypto Tidbits: SEC Still Mistrustful of ETF Bitcoin, Crypto Inbound Facebook, Binance to Launch Stablecoin
Tidbits Crypto & Bitcoin
- Etherlink channel (LINK) based on Ethereum rallies 50% as Google launches "partnership": On Thursday, Google Cloud, the company's cloud computing services platform, published an article titled "Creating blockchain / cloud hybrid apps with Ethereum and Google Cloud." While this was great news, the cryptographic community focused on the mention of Chainlink in the article, a project facilitating the translation and verification of data from the Internet for the blockchain . Chainlink's reputation is its so-called "oracle" system, a recently launched product designed to improve processes on something like Ethereum. This recent integration will allow Chainlink contracts, and therefore Ethereum smart, to interact with BigQuery, Google's data analyzer and portal. Because of this news, LINK has strongly rallied, ranging between 1.73 and 1.2 USD.
- Bakkt finally ready to launch a Bitcoin futures contract: According to a recent blog post, Bakkt, the cryptocurrency / infrastructure exchange initiative, mainly supported by the parent company of the New York Stock Exchange (Intercontinental Exchange), is expected to accept beta testers on its platform. in July. It plans to allow investors to use its futures contract standardized by Bitcoin (BTC), which has been in preparation for months with US regulators. Many believe that the full launch of the Cryptocurrency Exchange's investment vehicle will encourage institutions to dive into this space, which will result in an appreciation of the price of BTC and its peers.
- Launch of Crypto by Facebook with many partners Uber, Spotify, Visa and Coinbase: Reported by The Block on Friday, Facebook's next cryptocurrency stablecoin, dubbed "Balance" or "Globalcoin", has secured investments from huge companies. These include, but are not limited to, Visa, PayPal, Mastercard, Coinbase, Uber, Lyft, Spotify, A16Z, eBay, Union Square Ventures and Stripe. As NewsBTC previously reported, Caitlin Long, a former Morgan Stanley executive turned blockchain promoter, believes the project will lead to the adoption. She explains that the education efforts on Venezuela's Petro (a "petroleum-fueled" digital asset designed to save the country's hyperinflationary economy) have apparently resulted in a "surge in the use of Bitcoin in Venezuela." The same thing could easily happen this time around, but with billions instead of millions.
- Binance will limit American traders in the regulatory turmoil: This week, the venerable Changpeng "CZ" Zhao, managing director of Binance, revealed that his platform had changed its terms of service. Although this announcement does not contain any particular indication, users who have browsed the updated document have discovered that US-based traders would soon no longer be allowed to use the flagship platform Binance.com, the site of 39 Bitcoin exchange the most popular because of traffic and real traffic. ". To fill this gap, the start of the big chain of cryptocurrency is associated with a system called "BAM Trading" to create a local exchange. The new platform, named Binance America, is associated with a company registered with the financial regulator FinCEN and should be launched in the coming months.
- Ubisoft seeks to exploit Ethereum for its Blockchain application in games: According to a recent report by the French group Les Echos, Ubisoft, developer of video games behind Rainbow Six, Far Cry, Just Dance and other classics, has for months a "dedicated team" for blockchain applications in games . Citing familiar sources, Les Echos says the Ubisoft-backed consortium is about to launch its first case of blockchain use. In fact, a preferred source said the company was in an "advanced stage". Ubisoft apparently intends to use the Ethereum blockchain, and not Bitcoin or otherwise, for this program. It is unclear if the network could manage Ubisoft's user base, which could potentially imply that the company is looking to implement a second-layer solution for its integration to work.
- Coinbase and Circle seek to stimulate the adoption of the USDC Stablecoin: Circle and Coinbase are seeking to improve the viability of their Ethereum-based coin, the US Dollar Coin (USDC), through a "membership-based governance framework and system for the development and growth of money on the Internet ". financial technology companies to partner with the two companies listed above to help create digital economies that are instant, global, open and free to use.
- Nasdaq associates with the cryptographic site to incite the institutions: Announced Tuesday morning in a press release, CryptoCompare, a leading data provider of the sector, is associated with Nasdaq. The unexpected duo will launch a new crypto-currency pricing and indexing product, called "Nasdaq / CryptoCompare Cryptographic Reference Criteria". The company will be launched through Quandi, a reputable financial database owned by Nasdaq and providing services to hundreds of thousands of Wall Street professionals to its Asian counterpart. To do this, CryptoCompare and Nasdaq have created a system that will provide institutions with "minute-by-minute pricing data for the most liquid cryptocurrency markets (eg Bitcoin)".
- Crypto News Outfit CCN closes and resurrects two days later: Earlier this week, CCN – also known as CryptoCoinsNews – revealed that it would close. The site's founder, Jonas Borchgrevink, explained that NCC traffic had dropped when Google launched its "Central Update of June 2019" for its search engine. In fact, according to SEO sites like Sistrix, the visibility of the domain had dropped 53% in total and 72% on mobile. This means that POS items are not displayed as much when you search for "Bitcoin" or "Crypto", for example. Just two days after closing, however, CCN came back, revealing that he had worked with experts in SEO and Google News to develop a plan, thus ensuring that it was not necessary to dismiss 60 people. Industry-wide publications, including the big names, continue to suffer traffic losses.
- Crypto Ratings Agency downgrades EOS for "serious centralization issues": In a recent tweet, Weiss Ratings, an investment / research consulting group focused on cryptographic assets, slammed EOS. As noted below, the agency stated that it felt that EOS had "serious problems of centralization" and that it had therefore been mandated to "severely degrade its technology score." As can be seen on the company's website, the EOS technology score is now less than A. This is apparently in reference to the fact that at the Block.e event last week, which was to be considered the first anniversary of the launch of EOS, nothing was announced to strengthen decentralization. The blockchain developer also announced a new protocol, which should make the channel eight times faster than it currently is.
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