ChainLink has analysts considering its rise to gain dominance over bitcoin. The coin surged by over 12%, regaining a price of over $8.00. This year proved suitable for the currency so far, increasing by around 170% since the beginning of the year. Now, it is among the top ten cryptocurrencies worldwide. Its future is highly promising if it continues on the same trend. According to a tweet by Cantering Clark, as long as Bitcoin continues in a downward direction, LINK might get double-digit.
Bitcoin has been trading lower, struggling to maintain a price of $9,000 and $9,200. Bitcoin holders still hold their hope for a boost in their prices, refusing to sell the coin lower than $10,000. Peter Schiff conducted a poll on how long it would take holders to sell the coin, and most responses were willing to stick with it to the end.
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Binance Plans to Introduce a Debit Card
Binance will make it possible for users in European markets to apply and trade using their crypto cards. Binance conducted the first card trial in Vietnam and Malaysia. Unlike other cryptos, which requires users to renew their cards, Binance cards will link directly to the user’s wallet. Traders can trade at any outlets supporting Visa transactions through other cryptos like Bitcoin.
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Paypal’s Possible Future in Cryptocurrency
A letter published by Paypal to the European Commission stated that they are working closely with the cryptocurrencies. They pointed out that cryptocurrencies could be the future for the financial industry and urged the European Union to come through by introducing licensing policies and shunning money-laundering activities. The transactions giant joined Libra Association in 2019 to get insights on cryptocurrencies and Blockchain technology. PayPal is keenly monitoring the growth associated with cryptocurrencies.
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Core Scientific Joins Atrio Inc. to Invigorate AI Features
Blockchain-based AI service provider, Core Scientific, has announced a merger with Atrio Inc., an AI, and High-Performance Computing service company. Core attained several resources from Atrio Inc. to strengthen its AI infrastructure. Part of the collaboration included former CEO of Atrio Max Alt, to join Core Scientific as the Senior Vice President of Artificial Intelligence Technology. Max further mentioned that the combination would form a superior network for information sharing.
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El Zonte Residents Take up Bitcoin as Exchange Currency
El Zonte, home to approximately 3,000 people, has adopted Bitcoin as the new currency for exchange compared to fiat currencies. A Forbes report mentioned that the El Salvador-based village developed a proposal for a bitcoin circular economy that factored in remittances, tourism, public service, and small businesses as a solution to COVID-19 pandemic. An anonymous donor facilitated the proposal.
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Japan Considering Launch of Digital Yen
As per a Nikkei report, the Bank of Japan plans to introduce digital Yen to its financial systems later this year. Mizuho Financial Group and Sumitomo Mitsui Financial Group are among the financial institutions trying to evaluate the possibilities of utilizing the crypto world. Policymakers, before the introduction of the digital platform, have also looked into licensing and regulation issues.
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High Profile Twitter Accounts Hacked
Earlier Wednesday night, hackers went on to swindle Twitter users through accounts of prominent names in business and politics worldwide. Among the accounts that were hacked include those of Elon Musk, Bill Gates, Barack Obama, and companies such as Binance, Coinbase, and Finex. It is said to be the largest hack on social media yet. Most users saw it as a Bitcoin giveaway turned scam. Other parties assume that this is a sign of the need for decentralized social media platforms. Approximately $120,000 was sent to the hacker’s address.
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ZCash Upgrades to Heartwood
ZCash announced the upgrade of its network to the Heartwood version. The Heartwood upgrade is poised to improve the interoperability of the network. The project has two parts: Flyclient, which works on interoperability, light-client use, and cross-chain integration; and A shield Coinbase, which allows miners to send rewards to shielded Sapling addresses. The shielded Coinbase is now possible on the new upgrade with greater memory abilities and CPU creation resources.
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