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Bitcoin Cash Recovers From The Hard Fork Crash: Report

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Bitcoin Cash recovers from the hard fork crash that happened recently, with a price of $286 marking an increase of 19% from the last weekend’s dip after the hard fork as we are reading more in the latest Bitcoin Cash news.

BCH today hit a price of $286 with an increase of 12.39% over the past day after it crashed when the blockchain split into two pieces by marking a 5% decrease. The market cap of BCH is now set at $5.3 billion which places it at the 7th place ranking below LTC which has a market cap of about $5.5 billion. The price of the asset today hit $286 which is an increase of 12.39% in the past 24hours according to CoinMarketCap. The price increase marks a culmination of the weekly recovery from the last week’s hard fork which depressed the price. The price of the BTC spinoff dropped last weekend after the blockchain split into two. Bitcoin Cash’s price fell from $255 to $240, marking a 5% decrease.

The fork concerned the unpopular mining tax of 8% which go to one of the teams developing BTC. A lot of people didn’t want to happen as they choose a different fork. The uncertainty threw a blow to Bitcoin Cash and once the hard fork happened, some crypto exchanges halted deposits and withdrawals as the future of the network dropped in balance. Today’s price marks an increase of 19% from last weekend’s dip and therefore Bitcoin Cash recovers. The network recovered from the loss that it incurred. Bitcoin Cash’s market cap is now set at $5.3 billion, at the 7th place, ranking below LTC which has a market cap of $5.5 billion. Coinciding with the BCH price hike is great news with the COVID-19 pandemic that is still ongoing.

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As recently reported in our Bitcoin Cash news, Amaury Sechet’s Bitcoin Cash ABC increased by 70% today once he announced the latest upgrade for the client software which includes stability-related fixes for both forks of the BCH client. The latest release brings more life into the Bitcoin ABC faction of the Bitcoin Cash which got crashed by the rival BCH Node in the hash war over the past week, moments after the hack on November 15. This led to many rumors about its demise. According to CoinMarketCap BCHA started trading at $11.78 and the coin is now trading with a strong volume on exchanges which was initially low at $10.50. Now it increased to $21 before settling back in the $19 and $20 range.

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Source: https://www.dcforecasts.com/bitcoin-cash-news/bitcoin-cash-recovers-from-the-hard-fork-crash-report/

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Donnie Finance and IOST Partner, DON Listed at CoinOne

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IOST is partnering with Donnie Finance, a DeFi project that aims to launch six financial services, an announcement on Dec 4, reads.

CoinOne Lists DON Governance Token

Coinciding with their partnership is the listing of Donnie Finance’s governance token, DON, on CoinOne. The exchange is one of the largest in the world and dominant in crypto-receptive South Korea. 

Typical of most DeFi governance tokens, users must stake DON to vote on the dApp’s operational policy. Besides, holders get discounts on transaction fees and preferential interest rates on loans.

10 million DON tokens will be generated in IOST. However, in the first phase of their launch, five percent of the total supply will be minted in Ethereum because of the platform’s accessibility and for marketing purposes.

IOST DeFi Plans in H2 2020 Syncs with Donnie Finance’s Roadmap

As BTCManager previously reported, IOST tweaked its roadmap. They are now doubling down on DeFi, striking deals with partners willing to launch dApps on their ultra-fast platform with negligibly low transaction fees.

IOST also said Donnie Finance is a top-tier partner. It was one of the early investors of IOST. Their goal now is to launch six financial services on the blockchain. 

Some of the services set for launch include a DEX, an asset management system, a lending platform, payment, and a credit analysis dApp. The DEX with a hybrid AMM–with a transaction fee of 0.3 percent, will launch in Q1 2020.

What Donnie Finance Stands to Receive

Through their partnership, IOST will actively promote Donnie. Specifically, they will help them build a user-pool in South Korea, the United States, Singapore, China, and Japan. 

Besides assisting the DeFi dApp in marketing, IOST has said it will introduce DON to B2B partners, therefore, helping Donnie grow into a successful company.

Meanwhile, IOST is lining up several updates. Among some of the expected themes include listing at different exchanges in China and Japan, and new partnerships with Chinese companies. 

Earlier on, a BTCManager report showed that IOST was listed at CoinCheck. The coin is also a utility according to regulators, becoming one of a handful of tokens Japanese investors can trade on local exchanges. 

CoinCheck is one of the strictest exchanges in the country that has implemented several safety nets. They actively ensure listed coins (and their blockchains) are secure without loopholes exposing clients to attacks.

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Source: https://btcmanager.com/donnie-finance-iost-partner-don-coinone/

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200-yr Old Traditional German Bank Set to Launch Crypto Fund in 2021

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Hauck & Aufhäuser–a 200-year old German private bank, in partnership with Kapilendo–a Berlin-based Fintech, is launching HAIC Digital Asset Fund I in January 2021 according to a press release on Dec 3. 

It is a cryptocurrency fund for high net-worth and institutional investors. Investment fees will be at the industry’s standard of 2.05 percent.

Crypto Fund for High Net-worth and Institutional Investors

According to Dr. Holger Sepp, a board member of the private bank, this is due to increasing institutional interest in digital assets. 

The fund is an “innovative vehicle” for clients who need secure, cheap, and quality exposure to crypto-assets. 

Starting from €200k, HAIC Digital Asset Fund I will diversify client’s portfolios.

“We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive with institutional investors. With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class while meeting the established quality standards and high demands of Hauck & Aufhäuser.”

Kapilendo will take custody of ETH, Bitcoin, and Stellar, the three high market cap cryptos that make up the fund. 

Public Companies have invested Billions in Bitcoin

Institutions are flocking to Bitcoin. 

According to Bitcoin Treasuries, different public companies now manage over $16.3 billion worth of BTC with a big chunk under MicroStrategy. The business intelligence firm bought $475 million worth of Bitcoin in September. 

Other noteworthy investors include Square and Mode Banking.

Citing the security of Bitcoin as a tool against hyperinflation, their decision of incorporating the volatile digital asset as part of their strategic investment is paying off. 

Already, MicroStrategy’s ROI is up nearly 100 percent, roughly two months after involvement.

Shark Tank Billionaire Star will invest if Bitcoin Has Support from Governments

As per a BTCManager report, millionaire investor, Kevin O’Leary, said he will invest 20 percent of his net worth only if Bitcoin has the support from governments and regulators.  

Earlier on, he had dismissed the digital asset saying it was not “a real currency.” Later, he explained that he had nothing against Bitcoin since he was only critiquing the coin to understand how it works.

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Source: https://btcmanager.com/200-traditional-german-bank-launch-crypto-fund-2021/

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Ethereum second-layer scaling solution OMG network acquired by GBV

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OMG Network, formerly known as OmiseGo network has been acquired by an investment company based in Hong Kong, Genesis Block.

According to the announcement on 3 December, Genesis Block Ventures will work together with OMG Network to build lending and trading platforms for the DeFi sector. GBV has been an active participant in the DeFi revolution in 2020 and has built connections with different projects and exchanges like Binance and FTX, in this space. The announcement read:

“Following the acquisition, a number of integrations and partnerships are in the works, GBV and OMG will work closely together to leverage resources and explore new directions, such as building lending and trading platforms, to achieve DeFi’s massive adoption and growth potential.”

Additionally, the company also wants to leverage its reach in Asia to accelerate the development of the OMG network and establish partnerships in the region. Users have called GBV “quiet a giant of Asia” and noted that it was “probably most well-connected group”.

As a part of this acquisition, the OMG network announced the first order of business with GBV. It was to improve liquidity on Uniswap Protocol and SushiSwap. The Twitter update noted:

OMG network was launched in 2017 as OmiseGo and is a second-layer platform Ethereum scaling solution. It has been processing nearly 4,000 Ethereum token transfers per second, 200x the speed of the Ethereum network. The GBV noted that the goals of the OMG network will remain unchanged in the short term and the OMG token will continue to be the token powering its network.

Source: https://eng.ambcrypto.com/ethereum-second-layer-scaling-solution-omg-network-acquired-by-gbv

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