The Crypto Report

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11/06/2020

User Pays $2.6 Million to Transfer Just $130 Worth of ETH; By Far the Highest Fees Ever Paid

After climbing above $240, the second-largest cryptocurrency has slowed down and is keeping around this level. The percent of Ether supply in profit, which is the percentage of calculating ETH whose price at the last time it moved on-chain was lower than the current price, is currently hovering at 80%. It is the third attempt by ETH within a year to break this level. [ 474 more words ]
https://thecryptoreport.com/user-pays-2-6-million-to-transfer-just-130-worth-of-eth-by-far-the-highest-fees-ever-paid/

TheCryptoReport.com | User Pays $2.6 Million to Transfer Just $130 Worth of ETH; By Far the Highest Fees Ever Paid |

11/06/2020

Custody Battle Pits Institutional Boomers Against Crypto Upstarts

Crypto custodians are in a race to build the next State Street or BNY Mellon. There are only a handful of these types of large custody banks and most of them have been around for hundreds of years. But crypto is such a striking example of old world meeting new that it offers firms a rare opportunity to break into a market that would simply be impossible under normal circumstances. [ 2,193 more words ]
https://thecryptoreport.com/custody-battle-pits-institutional-boomers-against-crypto-upstarts/

TheCryptoReport.com | Custody Battle Pits Institutional Boomers Against Crypto Upstarts |

11/06/2020

With Arweave’s ‘Lazy’ Approach to Smart Contracts, Its Version of Web3 Does More

Arweave, a blockchain network meant for the permanent storage of data, has released a completely new approach to smart contracts. In short, smart contracts on Arweave, much like must of the code on websites today, will be run by users’ computers rather than the blockchain itself. Released Thursday, SmartWeave is an approach to smart contracts that allows the blockchain to dispense with gas fees and only requires a smart contract’s code to be run as often as it’s needed and not by every node on the network. [ 924 more words ]
https://thecryptoreport.com/with-arweaves-lazy-approach-to-smart-contracts-its-version-of-web3-does-more/

TheCryptoReport.com | With Arweave’s ‘Lazy’ Approach to Smart Contracts, Its Version of Web3 Does More |

11/06/2020

Ethereum Retreats From $250 But 100 Hourly SMA Could Trigger Fresh Surge

Ethereum gained traction above the $245 resistance, but it struggled to clear the $250 resistance against the US Dollar. ETH price is likely to find support near $245 and it could rally again. Ethereum traded to a new intraday high after a spike above the $245 resistance. The price is currently retreating from the $250 resistance, but trading well above the 100 hourly simple moving average. [ 374 more words ]
https://thecryptoreport.com/ethereum-retreats-from-250-but-100-hourly-sma-could-trigger-fresh-surge/

TheCryptoReport.com | Ethereum Retreats From $250 But 100 Hourly SMA Could Trigger Fresh Surge |

11/06/2020

bitFlyer USA COO on why it’s focusing on less coins and the need for the “separation between state and money”

CryptoSlate recently had the opportunity to chat with Joel Edgerton, the COO of bitFlyer USA. Joel is currently the COO at bitFlyer USA, a global cryptocurrency exchange with offices in Tokyo, San Francisco, and Luxembourg. Joel leads the company’s expansion in the USA, developing a strong team with institutional and retail customer experience. He has advocated for cryptocurrency exchanges to go beyond simply offering products, to better protect customer interests and solve customer problems. [ 1,448 more word ]
https://thecryptoreport.com/bitflyer-usa-coo-on-why-its-focusing-on-less-coins-and-the-need-for-the-separation-between-state-and-money/

TheCryptoReport.com | bitFlyer USA COO on why it’s focusing on less coins and the need for the “separation between state and money” |

11/06/2020

Experts Divided on Second Ether Transaction With $2.6M Fee

A second transaction of 350 Ether (ETH) ($86,000 at press time) with an incredible $2.6 million gas fee has just been confirmed on the Ethereum blockchain less than 24 hours after the first transaction for 0.55 ETH ($130 at time of press) with an identical fee amount was processed. Both transactions were processed with a fee of exactly 10,668.73 ETH. [ 339 more words ]
https://thecryptoreport.com/experts-divided-on-second-ether-transaction-with-2-6m-fee/

TheCryptoReport.com | Experts Divided on Second Ether Transaction With $2.6M Fee |

11/06/2020

A Second Ethereum Transaction With $2.6 Million Fee From The Same Address Just Took Place

Yesterday, an unusual transaction grabbed the community’s attention as someone paid 10,668 ETH (over $2.6 million) in fees, while the value it transmitted was only 0.55 ETH. Today, another transaction originating from the same wallet carried 350 ETH, and the fee was again – 10,668 ETH. The mining group that mined the block has urged the owner of the address to contact them to resolve the issue. [ 407 more words ]
https://thecryptoreport.com/a-second-ethereum-transaction-with-2-6-million-fee-from-the-same-address-just-took-place/

TheCryptoReport.com | A Second Ethereum Transaction With $2.6 Million Fee From The Same Address Just Took Place |

11/06/2020

Ripple-Partner, MoneyGram, Sees 107% Growth in Customer Transactions Year-Over-Year: Q1 Report

MoneyGram International Inc. (MASDAQ:MIG) peaked at $4.03 on June 10, 2020, representing a sharp 20% increase since the markets opened on Monday. The rise comes in light of the recent release of positive reports on the company’s financial health and customer growth in Q1 2020. MoneyGram registers 100% YoY growth in customer transactions In a press release, MoneyGram reports a year-over-year (YoY) growth of over 100 percent in customer transactions on its platforms in Q1 2020. [ 327 more words ]
https://thecryptoreport.com/ripple-partner-moneygram-sees-107-growth-in-customer-transactions-year-over-year-q1-report/

TheCryptoReport.com | Ripple-Partner, MoneyGram, Sees 107% Growth in Customer Transactions Year-Over-Year: Q1 Report |

11/06/2020

Filecoin Prepares for Network Launch With Final Testing Phase

Decentralised storage network provider Filecoin announced the launch of the ‘Incentivized Testnet’, the final phase of testing for its decentralized storage network, on Wednesday. In a press statement emailed to CoinDesk, the firm said that this precedes its expected main network launch this summer. Developed by Protocol Labs, Filecoin’s storage network aims to provide a safeguard against the risk of a single point of failure for data storage by using a decentralised network. [ 326 more words ]
https://thecryptoreport.com/filecoin-prepares-for-network-launch-with-final-testing-phase/

TheCryptoReport.com | Filecoin Prepares for Network Launch With Final Testing Phase |

11/06/2020

$22 billion fund manager says buy Gold, Bitcoin as bond markets fail as a hedge after U.S. Quant Easing

The ongoing COVID-19-pandemic has served as a defining point of modern financial markets. The U.S. and global indices are close to all-time highs, after an initial dip in March, even as virus casualties, global unrest, and unemployment linger on. To combat, some billionaire fund managers like Paul Tudor Jones have called out the instability in global markets and purchased Bitcoin futures as a hedge against possible hyperinflation. [ 601 more words ]
https://thecryptoreport.com/22-billion-fund-manager-says-buy-gold-bitcoin-as-bond-markets-fail-as-a-hedge-after-u-s-quant-easing/

TheCryptoReport.com | $22 billion fund manager says buy Gold, Bitcoin as bond markets fail as a hedge after U.S. Quant Easing |

11/06/2020

Whale Moves $1.3 Billion in Bitcoin … the Question Is Why?

As Bitcoin continues to hold above $9,800, one whale decided now was the time to move more than $1 billion in BTC. According to blockchain data, an unknown Bitcoin (BTC) trader moved over 132,255 BTC — roughly $1.3 billion — in three transactions just one minute apart on June 11. The cryptocurrency was moved in block 643,133. … [ 160 more words ]
https://thecryptoreport.com/whale-moves-1-3-billion-in-bitcoin-the-question-is-why/

TheCryptoReport.com | Whale Moves $1.3 Billion in Bitcoin … the Question Is Why? |

11/06/2020

Bitcoin Price Analysis: Another Failed Attempt At $10K, But Will BTC Finally Break-Up Today?

Quick recap: since May 7, 2020, which was a few days before the recent halving event, Bitcoin had been trying to breach the $10,000 benchmark level for several times. All of those ended up as failed attempts. The most serious attempt took place during the first day of June, as Bitcoin surged to the 2020 high at $10,500 but quickly retraced no more than 24 hours after. [ 445 more words ]
https://thecryptoreport.com/bitcoin-price-analysis-another-failed-attempt-at-10k-but-will-btc-finally-break-up-today/

TheCryptoReport.com | Bitcoin Price Analysis: Another Failed Attempt At $10K, But Will BTC Finally Break-Up Today? |

11/06/2020

Cryptos on Coinbase’s New Exploratory List See Prices Jump 17% on Average

Coinbase is looking at opening its doors to a range of new digital assets and the speculation is having an effect on their value. It would appear investors are valuing Coinbase’ Digital Asset Framework when looking at potential listings for the exchange as most assets are up between 8-25% with an average of around 17%, according to data from Messari… [ 317 more words ]
https://thecryptoreport.com/cryptos-on-coinbases-new-exploratory-list-see-prices-jump-17-on-average/

TheCryptoReport.com | Cryptos on Coinbase’s New Exploratory List See Prices Jump 17% on Average |

11/06/2020

Over 22,000 BTC Flows Out of Coinbase; Users Retaliating to Exchange’s Deal with the US Govt.?

Earlier this week, a massive outflow of funds was registered on US-based cryptocurrency exchange Coinbase. The exchange saw a negative flow of 22,137 BTC, worth more than $214 million on Monday. Source: Glassnode WhaleAlert reported the transfer of 1,975 BTC from Coinbase to an unknown wallet on June 9th. On June 6th three separate transactions were made to unknown wallets of… [ 390 more words ]
https://thecryptoreport.com/over-22000-btc-flows-out-of-coinbase-users-retaliating-to-exchanges-deal-with-the-us-govt/

TheCryptoReport.com | Over 22,000 BTC Flows Out of Coinbase; Users Retaliating to Exchange’s Deal with the US Govt.? |

11/06/2020

Algorand and Blockstack Are Building a Multi-Chain Smart Contract Language

Algorand and Blockstack are collaborating on a new smart contract programming language that moves the two startups toward direct, inter-blockchain communications. Called Clarity, the project will ultimately allow developers to write smart contracts that execute across their two blockchains – and others that might decide to join the open source initiative – without involving third-party interoperability protocols like Polkadot, executives at both companies told CoinDesk. [ 451 more words ]
https://thecryptoreport.com/algorand-and-blockstack-are-building-a-multi-chain-smart-contract-language/

TheCryptoReport.com | Algorand and Blockstack Are Building a Multi-Chain Smart Contract Language |

11/06/2020

Bitcoin Cash Smashes Key Resistance: Here’s Why It Could Retest $270

Bitcoin cash price is showing positive signs and it is trading above the $250 support. B*H is likely to continue higher and it might break the $265 and $270 resistance levels. Bitcoin cash price is trading in a positive zone above the $250 support against the US Dollar. The price broke a crucial hurdle at $255 and it is now showing signs of more gains. [ 369 more words ]
https://thecryptoreport.com/bitcoin-cash-smashes-key-resistance-heres-why-it-could-retest-270/

TheCryptoReport.com | Bitcoin Cash Smashes Key Resistance: Here’s Why It Could Retest $270 |

11/06/2020

Chainlink reaches key resistance as parabolic trendline forecasts upside

This Exchange News was brought to you by OKCoin, our preferred Exchange Partner. Chainlink has been vying to incur further momentum as it hovers just slightly below its previously established all-time highs. The cryptocurrency’s ability to gain a firm foothold within the mid-$4.00 region has been an incredibly positive sign for its mid-term outlook, although its near-term trend will likely remain somewhat dependent on that of Bitcoin. [ 403 more words ]
https://thecryptoreport.com/chainlink-reaches-key-resistance-as-parabolic-trendline-forecasts-upside/

TheCryptoReport.com | Chainlink reaches key resistance as parabolic trendline forecasts upside |

11/06/2020

Russia to Leverage Bitfury’s Enterprise Blockchain Solution, Exonum, for Impending July 1st Referendum

Russian referendum elections to include Blockchain pilots in Russia's capital and Nizhny Novgorod. They will be supported by Bitfury's enterprise Blockchain solution, Exonum. News has emerged of Russia's intent to leverage Blockchain tech for its upcoming referendum. They are to vote on whether the presidential term should be increased, allowing the president to serve for more than two, six-year terms. Initially, the referendum was originally set for April 22nd, however, it was pushed back to July 1st due to Coronavirus concerns. [ 400 more words ]
https://thecryptoreport.com/russia-to-leverage-bitfurys-enterprise-blockchain-solution-exonum-for-impending-july-1st-referendum/

TheCryptoReport.com | Russia to Leverage Bitfury’s Enterprise Blockchain Solution, Exonum, for Impending July 1st Referendum |

11/06/2020

This Political Conversation With Vitalik Buterin Shows How Ethereum Could Change the World

New York congressional candidate Jonathan Herzog hosted a live YouTube broadcast with Ethereum creator Vitalik Buterin on Monday, along with author and activist Glen Weyl. Herzog is a Democrat who previously worked on Andrew Yang’s failed yet crypto-savvy presidential campaign earlier in 2020. These three white men talked about the protests erupting across the United States. To his credit, the Russian-Canadian Buterin spoke broadly instead of attempting to comment on inequality in American politics. [ 782 more words ]
https://thecryptoreport.com/this-political-conversation-with-vitalik-buterin-shows-how-ethereum-could-change-the-world/

TheCryptoReport.com | This Political Conversation With Vitalik Buterin Shows How Ethereum Could Change the World |

11/06/2020

Ethereum Price Sideways Action Around $250: The Calm Before The Storm? ETH Analysis & Overview

Ethereum surged by a total of around 20% over the past two weeks, but it struggles to break $250. The cryptocurrency has been trading between $235 and $250 for the entire period of June. Against Bitcoin, Ethereum struggles to pass the resistance at 0.0253 BTC. Key Support & Resistance Levels ETH/USD:Support: $240, $235, $225.Resistance: $250, $254, $268.ETH/BTC: [ 463 more words ]
https://thecryptoreport.com/ethereum-price-sideways-action-around-250-the-calm-before-the-storm-eth-analysis-overview/

TheCryptoReport.com | Ethereum Price Sideways Action Around $250: The Calm Before The Storm? ETH Analysis & Overview |

11/06/2020

Microsoft ID System Launches Beta on Bitcoin Network

Microsoft’s decentralized identity network ION, first announced in May is moving to beta testing on the Bitcoin network. In a June 10 blog post, Daniel Buchner, a program manager for the Microsoft Identity team, said the open-sourced, layer 2 Identity Overlay Network (ION) had launched. The aim is to provide users with a decentralized identifier (DID) that could replace the need for usernames. [ 209 more words ]
https://thecryptoreport.com/microsoft-id-system-launches-beta-on-bitcoin-network/

TheCryptoReport.com | Microsoft ID System Launches Beta on Bitcoin Network |

11/06/2020

$11,200: Bitcoin Supporters Aim Big After Recent Spike And Volatility

Bitcoin is gaining bullish momentum and it broke the $9,800 resistance zone against the US Dollar. BTC price is likely to continue higher if it settles above the $10,000 resistance zone. Bitcoin is slowly moving higher and it is trading above the $9,800 and $9,720 support levels. A successful daily close above the $10,000 level could spark a sharp rise in the near term. [ 411 more words ]
https://thecryptoreport.com/11200-bitcoin-supporters-aim-big-after-recent-spike-and-volatility/

TheCryptoReport.com | $11,200: Bitcoin Supporters Aim Big After Recent Spike And Volatility |

11/06/2020

Bitcoin IRA Is Ready to Take On Small Savers With Updated Retirement Savings Product

Crypto retirement savings firm Bitcoin IRA is ready to take on smaller accounts with the launch of its new IRA product, Saver IRA. Around four years ago, Bitcoin IRA launched its first self-directed individual retirement account that required balance minimums of $20,000. Now the firm has dropped that minimum to $3,000 for a standard account. With the addition of Saver IRA, the company has a no-balance-minimum account that instead requires a monthly deposit minimum of $100. [ 266 more words ]
https://thecryptoreport.com/bitcoin-ira-is-ready-to-take-on-small-savers-with-updated-retirement-savings-product/

TheCryptoReport.com | Bitcoin IRA Is Ready to Take On Small Savers With Updated Retirement Savings Product |

11/06/2020

Bitcoin is Fighting to Enter a Full-Blown Bull Market; Factors to Consider

Bitcoin bore witness to some intense volatility today that came about after the cryptocurrency’s price rocketed past $10,000 before facing yet another harsh rejection that led it back into the $9,000 region. This price action has once again resulted in BTC falling into the same consolidation channel that it was previously caught within, and its mid-term trend still remains incredibly unclear. [ 455 more words ]
https://thecryptoreport.com/bitcoin-is-fighting-to-enter-a-full-blown-bull-market-factors-to-consider/

TheCryptoReport.com | Bitcoin is Fighting to Enter a Full-Blown Bull Market; Factors to Consider |

11/06/2020

Fed Officials See Anemic Inflation Despite Trillion-Dollar Money Injections

Federal Reserve officials see U.S. inflation as likely to stay below 2% over the next three years, based on a new summary of economic predictions released Wednesday by the central bank. Prices for personal consumption expenditures are expected to climb just 1% this year, down from a December projection of 1.9%, according to the document. Inflation will average 1.5% next year and 1.7% in 2022, the officials projected. [ 453 more words ]
https://thecryptoreport.com/fed-officials-see-anemic-inflation-despite-trillion-dollar-money-injections/

TheCryptoReport.com | Fed Officials See Anemic Inflation Despite Trillion-Dollar Money Injections |

11/06/2020

Traders on the biggest Bitcoin options exchange are pricing in a 7% chance for BTC to hit ATHs before 2021

This Exchange News was brought to you by OKCoin, our preferred Exchange Partner. Bitcoin options have turned out an unlikely choice of trading instrument in 2019-20. A feature of traditional markets, BTC options were a path towards the broader institutionalization of cryptocurrencies, specifically the trading side. Deribit, a Panama-based crypto derivatives platform founded in 2014, released a projection yesterday that pegged the chances of Bitcoin reaching its ATH of $20,000 this year. [ 446 more words ]
https://thecryptoreport.com/traders-on-the-biggest-bitcoin-options-exchange-are-pricing-in-a-7-chance-for-btc-to-hit-aths-before-2021/

TheCryptoReport.com | Traders on the biggest Bitcoin options exchange are pricing in a 7% chance for BTC to hit ATHs before 2021 |

11/06/2020

Risk Appetite Returning in Bitcoin Market While Large BTC Holders Are Growing

Unlike the euphoria in the US stock market, the digital asset market remains completely stable. With all the money flowing into the stock market, the US dollar which stayed strong during the March sell-off has been declining steadily since mid-May. In contrast to USD, the price of oil is going up but gold is on a decline. The madness in the stocks however, is reminding crypto enthusiasts of the 2017 bull run. [ 472 more words ]
https://thecryptoreport.com/risk-appetite-returning-in-bitcoin-market-while-large-btc-holders-are-growing/

TheCryptoReport.com | Risk Appetite Returning in Bitcoin Market While Large BTC Holders Are Growing |