$10 Million Burned on BitMEX Shorts as Bitcoin Surges to $9,700

Just hours after Ethereum rocketed higher, so too has Bitcoin. The leading cryptocurrency recently reached $9,750, the highest price BTC has traded at in over a week. $9,750 is just over 13% higher than last week’s lows of $8,600, established as miners were seemingly dumping their coins in response to the May 11th block reward halving. Bitcoin price chart from Tradingview.com Due to the timing of the move, it seems that Bitcoin is being dragged up by Ethereum. As shared in a previous market update, the prominent altcoin is up…

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Cryptocurrency News From Japan: May 24

This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. GMO Coin users pick Bitcoin over XRP GMO Coin, a crypto exchange under Japanese tech outfit GMO, conducted a poll, asking users which crypto asset they think holds the most promising future. …

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Ethereum Erupts 10% Higher: Here’s Why Analysts Think More Upside Is Imminent

While Bitcoin is stalling under the key $9,500-9,600 resistance level, Ethereum has rocketed higher. The asset, according to TradingView.com, is up 10% over the past 24 hours. ETH is currently pushing $244, the highest price since early March. For some context, Bitcoin is up a mere 1% in the past 24 hours. Also, a majority of altcoins have registered gains of around 2-4%. Ethereum price chart from TradingView.com This surge higher over the past 24 hours has had a large effect on the Ethereum derivatives market. According to data shared by…

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Cointelegraph Joins World Economic Forum’s Strategic Intelligence Network

We are excited to announce that Cointelegraph has joined the World Economic Forum’s Strategic Intelligence contributor network as a content partner, supplying the latest blockchain and cryptocurrency industry news, market analysis and op-eds into its sophisticated and wide-ranging knowledge base.  Launched in 2019, Strategic Intelligence uses a combination of professional and AI-driven analysis to curate insights from think tanks, institutions and media outlets around the globe. Users can more effectively navigate the complex and interconnected global problems that beset the world, such as hunger, poverty, energy, health care, climate, global…

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Samsung May Have Appointed New Blockchain Leadership

Although the company made no official announcement, South Korean tech conglomerate Samsung Electronics seems to have been appointed a new Vice President in its AI PM Group / Blockchain Dev Group. Woong Ah-yoon, a former chief architect of Blockchain Solutions for Healthcare and Life Sciences at IBM, recently updated his LinkedIn profile with the new role. However, according to the information provided, he has been reportedly holding the position since January 2020. According to the local media Fn News, Woong will expand and reorganize the Blockchain Task Force division of…

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Dogecoin CEO Elon Musk Launches Humans Into Orbit

Elon Musk, a tech mogul with indirect ties to the crypto industry, sent two humans into orbit on May 30 in the first private, manned space craft launch in history.  “The launch will be the first time a private company, rather than a national government, sends astronauts into orbit,” Fox News said in a May 27 brief. “It will also be the first time that astronauts launch from U.S. soil since the final space shuttle mission in 2011.” Ground control to Maj. Musk  Known for his leadership of futuristic car…

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Hashpower Could Migrate From East to West as Global Mining Landscape Changes

Speaking to Cointelegraph, the CEO of Ripple SBI Asia, Adam Traidman, predicted that the mining industry will continue to see hash rate migrate from east to west, asserting that he is already witnessing the transition begin. “We are seeing a huge interest [from][ wealthy Chinese miners who are paying somewhere on average of $0.03 to $0.05 per kilowatt-hour […] in Texas at $0.025 and below — in some cases way below,” Traidman stated. Tensions between American and Chinese miners However, the Ripple SBI Asia head noted that relations between mining…

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‘Black Swans’ for Fiat Will Only Be a Favor for Cryptocurrencies

In the past three decades, the world has been witness to three extraordinary “black swan” events that served as structural crossroads for both societies and economies: the 9/11 terror attacks, the 2008 global financial crisis, and the COVID-19 pandemic. Nearly two decades ago, 9/11 unleashed brazen new escalations of state powers over individuals and monetary controls, all in the name of security from terrorism led by the United States and still reverberating around the globe. The 2008 economic meltdown caused by the U.S. housing crisis illuminated the fundamental economic inequality…

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Minecraft Meets the Blockchain Thanks to New Plug-In

Blockchain game technology company, Enjin, announced that their plugin “EnjinCraft” is now available on the popular video game, Minecraft. According to the announcement made by Enjin, the blockchain plugin will allow players to integrate, trade, and use blockchain gaming items through the servers. By integrating blockchain technology, the company aims to make it easy to tokenize Minecraft items and thus incorporate them within the players’ servers. The plugin is based in Java, with some specialized functionalities like the integration of the tool on external games, servers, and websites. Linking Minecraft’s…

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Amazon Patented a Blockchain System for Supply Chain Tracking

World’s top ecommerce firm, Amazon, filed a patent for a blockchain system that tracks goods as they move on the supply chain. Amazon’s patent — dated May 26 — describes a “distributed ledger certification” system. The document explains that the tracking solution would ensure that consumer goods that are sold on its ecommerce site are authentic. The abstract reads: “Features are disclosed for an interface for verifiable tracking of an item through a supply chain using a distributed electronic ledger.” In the detailed description section of the patent, its author…

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