🗞 Daily Crypto News, February, 7th💰

in #cryptocurrency5 years ago

  • A Millennial and Crypto Love Story: How This Generation Is Ghosting Banks ;
  • Swiss Stock Exchange SIX Plans Blockchain Platform in H2 ;
  • Ethereum Foundation Weighs $15 Million Bid to Build ‘Randomness’ Tech ;
  • Bitcoin, Altcoins Are Vulnerable to New Lows, Fundstrat Warns Clients ;
  • Abra Adds Stocks and ETF Investing to Its Cryptocurrency Exchange App ;
  • 📑 Daily Crypto Calendar, February, 7th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 A Millennial and Crypto Love Story: How This Generation Is Ghosting Banks

America’s youth has long been in a bad relationship with banks. Their predatory, self-serving practices have left a bad taste in the mouths of many young consumers, who have historically acclimated and resigned themselves to the system as they aged. Millennials have been accused of killing almost every industry, from golf to napkins, but now they’re on the cusp of the biggest breakup yet – with banks. Millennials might finally be the generation to leave their deadbeat ex and have the passion and optimism to envision a new way of doing things financially.

During the 2008 financial collapse, the Fed had to lower interest rates to 0 percent, right around when millennials were graduating from college (in debt from bank loans) and trying to build up their finances. Millennials could barely earn interest on their deposits, while banks continued to use those same deposits to charge consumers 25 percent interest on credit cards and keep over 90 percent of the value to themselves. Bank executives have had record earnings and bonuses since 2009, while most Americans struggle to finish the month in the green.

🗞 Swiss Stock Exchange SIX Plans Blockchain Platform in H2

Switzerland’s top stock exchange, SIX, aims to roll out a blockchain platform to speed up trading later this year.

Reuters reported Feb. 6 that SIX chairman Romeo Lacher said the planned new SIX Digital Exchange (SDX) will initially operate alongside the existing SIX platform.

Currently, a trade takes several steps to complete, which can take days. However, using a distributed ledger knocks out two of the stages and can reduce the trade lifecycle to fractions of a second, Reuters added.

🗞 Ethereum Foundation Weighs $15 Million Bid to Build ‘Randomness’ Tech

At the cutting edge of blockchain research is a potential $15 million dollar venture by the Ethereum Foundation centered around a technology called Verifiable Delay Functions (VDFs).

Acting as a source of computer-generated randomness that is unpredictable and unbias-able, VDFs are envisioned for use in a highly-anticipated “proof-of-stake”(PoS) system called Serenity which the ethereum network will migrate to in the next few years.

What’s more, the ability to generate secure randomized numbers – if implemented in Serenity – would be a feature that can be leveraged by all decentralized applications (dapps) on the platform once integrated into the ethereum codebase.

🗞 Bitcoin, Altcoins Are Vulnerable to New Lows, Fundstrat Warns Clients

Cryptocurrency markets could soon hit lower lows and continue their record bear market, investment and analysis firm Fundstrat Global Advisors warned in an email quoted by Bloomberg on Feb. 6.

Writing to traders, one strategist at the firm, Robert Sluymer, forecast that on the basis of current performance, there was a chance Bitcoin (BTC) and altcoin prices could dip further.

BTC/USD has fallen around 2.2 percent over the past week to trade at $3,370 as of press time Thursday, as many altcoins have seen bigger drops. Sluymer said:

“The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.”

🗞 Abra Adds Stocks and ETF Investing to Its Cryptocurrency Exchange App

Abra has decided to add access to collateralized equities investing. This means that users of the exchange and wallet app in 155 countries will be able to trade on popular U.S. stocks and commodities like gold and even use cryptocurrency to do so.

Abra, a cryptocurrency wallet app and exchange with native support for bitcoin cash, has announced that is set to offer its global users the opportunity to invest in stocks, commodities and ETFs, all within the app. The service is going to start with popular U.S. stocks and ETFs and the company also promises to add more global assets in the coming months.

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📑 Daily Crypto Calendar, February, 7th 💰

  • Holo (HOT)

Tune in to AMA No. 22 w/ @marycamacho, @matthewjosef, and David Atkinson on February 7th at 6pm UTC (1pm EST) on YouTube."

  • 0x (ZRX)

ZRX hosts online hackathon with CoinList from Jan 10 - Feb 7.

  • Nexus (NXS)

Public testnet released by February 7.

  • BitTube (TUBE)

"The next fork will happen at block height 268000 on 7th of February.. There will be a second fork 720 blocks 1 day later."

  • Spectrum (SPT)

EtherFlyer listing at 10:00 (UTC+8).

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

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Here is the current chart :

image.png

The STEEM is consolidating after the fail of the resistance break. You can see clearly on the chart that we tried to break the resistance line in orange but we failed and that fail created the correction that we are having now. The last candles are becoming very small and so we don't have anymore any volatility. A Break Out is imminent also on the BTC. Expect a big move on the STEEM when the BTC will start. I bet that one of the 2 lines will be broken during that move. Let's hope it will be the orange one and not the red one. Let's see, we will know it very quickly now.

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