Tech Tic Technologies

Tether is not slowing down in its USDT printing spree. The amount of tokens the stablecoin issuer has minted within the last week now equals what it printed in the first half of April. Tether Prints 480 Million USDT In 5 Days Records from Whale Alert suggest that the Tether Treasury has printed five batches of fresh tokens in the last five days, totaling 480 million USDT ($480.4 million), which was the same amount with what was minted within the first 14 days of the previous month. In a previous report , Tether created a whopping 1.58 billion USDT (appr. $1.586 billion) in April alone, making it one of the busiest months for the company’s Treasury in terms of minting new tokens. The company printed 220 million USDT ($220.4 million) on Thursday alone, and 100 million USDT ($99.8 million) more today. If the stablecoin’s printer continues producing more tokens at this rate, then we will likely see almost twice as much as the figure in April. At the time of writing, the USD...

Ethereum saw a 1% price hike today as the coin rises to the $208 level. It still needs to take out the $220 resistance to be able to push higher. Against Bitcoin, ETH continues to struggle as it breaks beneath the 200-days EMA support level. Key Support & Resistance Levels ETH/USD: Support: $200, $194, $187. Resistance: $211, $220, $225. ETH/BTC: Support: 0.0223 BTC, 0.022 BTC, 0.0213 BTC. Resistance: 0.0227 BTC, 0.023 BTC, 0.0236 BTC. ETH/USD: Ethereum Pushed Higher By BTC Ethereum has been trapped within a range between $215 and $194 during May 2020. It pushed higher today from the $202 level as it reached $208. However, it is important to note that this is not a push from the ETH bulls but rather a result of BTC breaking above $9,000 again. Nevertheless, ETH is moving upward, but it still has to face the resistance at $220 (1.272 Fib Extension) if it wants to continue. ETH/USD Short Term Price Prediction The first level of resistance lies at $211. Ab...

Polls surveying over 15,000 people suggest that the majority believe Bitcoin’s price is likely to dump as the halving happens and skyrocket later on. This coincides with the behavior of the cryptocurrency following the previous halvings. Mooning Postponed, Bitcoin Will Dump At Halving A few well-known members of the cryptocurrency community recently initiated polls to see what do users think will happen to Bitcoin’s price at and after the upcoming halving. The first poll cited the halvings of both Litecoin and Bitcoin Cash, explaining that their price decreased as the events took place. Almost 48% of participants believe that BTC will dump while the remaining are thorn between sideways trading and a potential increase. Though the poll still has time to go, almost 10,000 people took part in it so far. The second survey was more straightforward, directly asking people what they think will happen to the price following the halving. 44% said that it will see a “big dump...

Days before the third-ever Bitcoin halving, the interest towards the primary cryptocurrency has surged, according to Google trends. The phrase “buy Bitcoin” is getting very close to the previous two-year high levels of June 2019’s bull-run and the March 12 dump of this year. Buy Bitcoin Search Volume Increases Significant attention is heading Bitcoin’s way, as can be seen on Google trends. “Buy Bitcoin” searches have increased to the highest point since April 2018. Arguably the most anticipated event in the cryptocurrency industry this year will take place in a little over a week. The Bitcoin halving occurs roughly once every four years, and it slashes in half the rewards miners receive for adding new blocks to the network. Meaning, it reduces the supply of freshly minted bitcoins. Historically, the price of the asset has surged following the previous two halvings. Therefore, speculations of upcoming price increases are high at the moment, which could be propelling the g...

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US Department of Transport (DOT). Distributed ledger technology could see utilization in different sectors, from security and identification to flight data recording. Commercial Drones: Growth And Challenges According to a research paper from the US Department of Transport, the estimated number of Unmanned Aircraft Systems (UAS) was roughly 1.1 million in 2017. A projection on the matter predicts that the number will rise with 50% by 2024. Daily applications include carrying medicine and organs for transplant, making consumer deliveries, and even operating flamethrowers and machine guns. According to Jay Merkle, Director of the Federal Aviation Administration UAS Integration Office, there are “nearly four times as many UAS as registered manned aircraft.” Despite their growth in the past several years, the DOT ...

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...

The novel COVID-19 pandemic disrupted gold distribution in Q1 2020, while the demand saw a serious increase, primarily in the west. At the same time, most central banks continued amassing large quantities of the precious metal. Gold Demand During The COVID-19 Crisis With the unexpected outbreak of the COVID-19 pandemic at the start of the new decade, traditionally perceived as riskier assets such as equities and cryptocurrencies plunged as investors were looking for liquidity in fears of the potential aftermath of the crisis. Gold, generally utilized for its safe-haven status, also suffered from price declines in mid-March during the most emphatic days of uncertainty. Since then, however, its price has recovered, and it’s even trading at 12% in the green so far in 2020. When world governments were initiating stimulus packages , also known as printing excessive amounts of money and debts in short periods, investors turned to the precious metal’s safe-haven...

The US State of Illinois made a massive step towards further blockchain adoption. According to the Blockchain Technology Act, which took effect on January 1st, blockchain-based smart contracts satisfy the law under certain circumstances. Smart Contracts Admissible In Court One of the biggest challenges in front of regulators when it comes to crafting legislation for the cryptocurrency field is definitions. The SEC, for instance, has been struggling for quite some time before stating that Bitcoin and Ether (ETH) are not considered securities, while other digital assets launched in Initial Coin Offerings, for instance, pertain to that definition. The State of Illinois, however, has made a serious step towards regulating blockchain-based technologies with the Blockchain Technology Act . The bill, which is sponsored by Rep. Keith Wheeler, took effect on January 1st, 2020, and one of the first things that it addresses is the very definition for blockchain itself. “Blockcha...

Australia is in severe pain as massive bushfires spread across the country with a staggering 10 million hectares of land consumed by the ferocious flames, leaving at least 2500 buildings destroyed and 25 people and 500 million animals dead. Binance To Help With Australia’s Distress Many institutions and people from around the world, including foreign governments, private institutions, celebrities, and everyday people, have responded to the country’s current situation by offering prayers, thoughts, and donations to the Australian burnfire relief. One of the latest donations comes from the Binance Charity Foundation, the blockchain-based charity division of the world’s leading crypto exchange Binance. Binance Charity announced January 7 that it had made a $1 million (A$1.45m) worth of BNB donation as a lead for its new charity project, Australia Bushfire Donations, to raise funds for the dire situation in Australia. According to Binance, the funds raised in the new initiat...

American entrepreneur and controversial crypto figure John McAfee, who boldly predicted that Bitcoin would be valued at $1 million by the end of 2020, has openly lashed out on the leading cryptocurrency, referring to it as an ancient technology due to several limitations. This comes as a blow, considering that he was one of the biggest promoters of Bitcoin and crypto in general over the last few years. McAfee believes that being the first blockchain to exist does not make Bitcoin the “future.” In his opinion, there are newer blockchains with enhanced features that solve the flaws of the Bitcoin blockchain, just as the Ford Model T automobile of 1908 was replaced by more sophisticated cars. The 74 years computer programmer and billionaire has always been an advocate of decentralization and privacy. In fact, he has spent a great deal of time on the run while preaching against central authorities like government, and as such, privacy is a big concern for him, one of the features w...

As the new year begins, Qatar’s Financial Center, the nation’s regulatory authority, has issued a blanket ban on cryptocurrency-related services in the Gulf nation. The prohibition covers not only cryptocurrencies but “anything of value” that could substitute fiat currencies. Qatar Bans Cryptocurrencies The Qatari Financial Center, which is also the nation’s regulatory authority, has issued a statewide ban on cryptocurrencies and other digital assets that might substitute traditional fiat. Per the report , the authority stated that: “Virtual Asset Services may not be conducted in or from the QFC at this time.” It also reads that this goes for “Anything of value that acts as a substitute for currency, that can be digitally traded or transferred and can be used for payment or investment purposes.” However, it’s also worth noting that the ban doesn’t cover digital forms of securities or other financial instruments that are thoroughly regulated by the Regulatory Authority, ...

While most of the world countries and entities are making slight attempts to enlarge their cryptocurrency adoption, Venezuela might be way ahead. Judging by the past year, the dictatorship country has been quite favorable towards Bitcoin and other digital assets, with increased trading volume, and its own cryptocurrency to be used in oil trades. Most recently, the Burger King food chain will allow clients to make purchases with several different cryptos, including Bitcoin, thanks to a partnership with Cryptobuyer. Pay your Whopper with Bitcoin The popular cryptocurrency gateway, CryptoBuyer, recently announced on a new partnership with Burger King Venezuela. Effective immediately, customers can use some of the most popular cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, Binance Coin, Dash, and Tether, to make purchases in one location in the capital Caracas. Dash goes even further, announcing that there will be 40 Burger King locations throughout the whol...