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Key Comparison Shows BAND Has Lot Of Room Left To Grow

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The key comparison data shows that Band Protocol (BAND) has still a lot of room left to grow as it becomes one of the best Defi coins with news of integrations on Coinbase Pro that ended up sending the price to a new all-time high as we are reading more in the altcoin news.

The cryptocurrency was able to hold most of the gains and amassed a $162 million market cap as a result. One of the major competitors at the moment is Chainlink which was caught in the strong uptrend movements. The key comparison of the two assets market cap shows that the BAND has a massive room left to grow. Unlike Band Protocol, Chainlink’s network is operational at the moment which is a major difference that investors have to bear in mind. The entire crypto market is flashing signs of weakness today as BTC and ETH incur slight downtrends.

band price
BAND Daily Price (Source: Coingecko)

The Band Protocol Token was able to hold on to most of the gains with the investors still being quite excited about the recent Coinbase listing and the integrations news. At the time of writing, BAND is trading down by 4 percent with a current price of $7.75 and this marked a slight decline from the recent high of $8.50 which were set at the peak of the latest uptrend. The cryptocurrency is trading up from its multi-day lows of $3.80 and as per the reports, two main reasons for the catalyzed uptrend were the recent additions of the BAND protocol to Coinbase Pro as well as the news regarding the integration of the protocol’s oracles into Elrond’s blockchain.

band weekly
BAND Weekly Price (Source: Coingecko)

Band Protocol is now trading up by 32X from where it was when the year started. Ryan Watkins, a crypto analyst at Messari observed recently that another factor is driving BAND higher such as the investors that are using Chainlink as an anchor for the oracle network’s value. He didn’t note the key difference between the two networks as Chainlink is a live product while Band Protocol is rolling out their mainnet. The disparity between the two suggests that BAND has more room to grow:

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“This key difference may explain the still large valuation gap between Chainlink and Band (in addition to Chainlink simply being overvalued). Or it could suggest there’s still room to go.”

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Source: https://www.dcforecasts.com/altcoin-news/key-comparison-shows-band-has-lot-of-room-left-to-grow/

Blockchain

Bitcoin Taps $11K As Altcoins See A Nightmare Week: The Crypto Weekly Market Update

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This week was nothing short of exciting. Bitcoin started trading at around $10,300 but was on a positive note throughout the entire time. It increased gradually, without any sharp and somewhat surprising movements, and managed to add about 6.5% to its value.

The cryptocurrency tapped the important psychological and technical resistance at $11,000 but failed to conclusively close above it. Still, Bitcoin regained a serious portion of the total market capitalization as its dominance increased by 2% at one during the week.

This is mostly because most altcoins have been struggling substantially these past seven days. While the top 5 are scoring slight increases in the range between 2% and 5%, a lot of other altcoins are bleeding out heavily.

Chainlink is down about 17%, TRON’s TRX decreased by more than 15%, SNX dropped by more than 20%, and so forth.

More impressively, the popular food-based meme coins are also bleeding heavily. SUSHI is down 30% in a week, KIMCHI crashed 75%, CREAM is down 75%, and the list goes on.

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Elsewhere, the entire industry was taken by a storm yesterday when the largest decentralized exchange, Uniswap, announced its own governance token called UNI. Not only that, but it airdropped a tremendous amount to everyone who used the platform prior to September 1st. The token was immediately listed on Coinbase and Binance, and people managed to sell it for a quick profit and ‘free money.’

Today, however, the token’s price has taken for the skies as it’s currently trading at above $7, which marks an increase upwards of 130% in less than 24 hours.

Market Data

Market Cap: $350B | 24H Vol: $96B | BTC Dominance: 57.3%

BTC: $10,845 (-0.25%) | ETH: $377,49 (-0.95%) | XRP: $0.247(-1.04%)

cryptopost_friday

Pompliano And The US Fed Changed Jim Cramer’s Mind On Bitcoin. The popular host of CNBC’s Mad Money, Jim Cramer, had a talk with Anthony Pompliano where he admitted that his views on Bitcoin have changed. He said that one of the main reasons for that is the US Federal Reserve printing trillions of dollars in a few months.

Uniswap Launches Its Dedicated UNI Token: ETH Gas Prices Soar Again. Uniswap has launched its own governance token called UNI. This had a massive impact on the entire market and especially on Ethereum, as the network fees soared again. In any case, the value for the token has skyrocketed as Binance and Coinbase listed it almost immediately.

NASDAQ-Listed MicroStrategy Buys $175 Million More Worth Of Bitcoin. MicroStrategy, a NASDAQ-listed company, has bought another $175 million worth of Bitcoin. This is the second time the company purchases BTC, and its total holdings now amount to almost half a billion US dollars.

Price of Tomorrow Author Jeff Booth Calls Bitcoin A ‘Must’ And A ‘Lifeboat.’ The author of the popular Price of Tomorrow book said that Bitcoin is a lifeboat and a ‘must’ during economic uncertainties. He is among the latest popular individuals to publicly endorse the primary cryptocurrency for its inherent qualities.

First Official Ethereum 2.0 Proposal For Phase 0, Launch Just Submitted. While the DeFi boom continues to make headlines, the first official proposal for Phase 0 of Ethereum 2.0 was submitted. This marks the first official step to getting the Beacon Chain closer to its launch.

Bakkt ‘Physically Delivered’ Bitcoin Futures Post New All-Time High. Bakkt – the Intercontinental Exchange’s Bitcoin derivatives arm, posted a fresh all-time high this week. The company stated that it clocked almost $150 million in BTC futures volume, which is just shy of 16,000 contracts traded.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Binance Coin, and Polkadot – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-taps-11k-as-altcoins-see-a-nightmare-week-the-crypto-weekly-market-update/

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Blockchain

SATs Market Watch: Bitcoin Price Unable to Break $11,000 as Uniswap (UNI) Token Surges

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Bitcoin took another swing at $11,000 but got rejected, and trades just shy of the coveted level. Most alts are retracing slightly, while UNI continues to attract attention, and its price has increased to $7.

Bitcoin Stopped At $11K

After yesterday’s relatively calm price performance, the primary cryptocurrency initiated another leg up towards $11,000. The move began from about $10,900, and in just a few hours, BTC topped at $11,020 (on Binance).

However, the bears intercepted it and drove the asset towards its daily low of $10,800. Following this loss of $200 in a relatively short time, BTC has recovered some ground and currently trades at $10,950.

The psychological $11,000 remains as the most critical resistance in Bitcoin’s way upwards. Should the cryptocurrency break above it decisively, it could head towards the next ones at $11,200, $11,340, $11,500, and $11,760.

In case of another rejection, BTC can rely on $10,900, followed by $10,500, $10,430, and $10,330 as support.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

It’s worth noting that Bitcoin’s intraday performance resembled that of gold once more. The precious metal also increased from a low of $1,945/oz to its daily high of $1,960. However, a rejection followed at that point and drove its price to where it closed the Friday trading session – $1,950.

UNI Continues Surging, As Most Alts Slightly In Red

Most alts, especially the larger-cap ones, have taken a beating in the past 24 hours. Ethereum is down by over 2% to below $380. Ripple also dips beneath $0.25 after a 1.5% decrease.

Chainlink has lost the most value from the top 10 coins as it plummeted by 8%. As such, LINK is fighting to stay above $10.

Polkadot retraced by 2.5%, Binance Coin by 3%, and Litecoin by 1.3%. Further below, Tezos continues with its recent adverse trend after another 5.5% price dip to $2.35.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

The double-digit price increase club has several representatives. Those include Celsius (20%), NEM (16%), DxChain Token (15%), ABBC Coin (12%), and Hedge Trade (10%). However, one token trumps them all – the recently launched governance coin of the popular DEX platform Uniswap.

Released a few days ago, UNI has attracted lots of attention to itself. Most Uniswap users that received 400 UNI as airdrops sold their tokens almost immediately. However, data from Santiment reveals that those who displayed patience, and didn’t sell right away, have been awarded. The UNI price is significantly higher than when it was during the most substantial sell-off stage.

Uni Price Performance Comapred To Other Alts. Source: Santiment
Uni Price Performance Compared To Other Alts. Source: Santiment
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-price-unable-to-break-11000-as-uniswap-uni-token-surges/

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Australian Dodges Prison After Using A Supercomputer At Work To Mine Crypto

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A former employee of CSIRO – the Australian Commonwealth Scientific and Industrial Research Organisation, has avoided prison after being caught using a supercomputer at work for mining cryptocurrencies. Jonathan Khoo, 34, worked as a contractor at the federal government’s scientific research agency.

Generating $6,897 Worth Of Ethereum and Monero

As per a recent news report, between January and February 2018, Khoo has managed to use two supercomputers at his workplace for the purpose of mining cryptocurrency. According to the publication, he used the devices for his financial gain. He also managed to mine crypto worth A$9,420 (US$6,897), and deposit them into his Ethereum and Monero wallets. 

This was discovered in February 2018, after which Khoo was dismissed from CSIRO. The following month The Australian Federal Police looked into the matter and Khoo faced an official charge the next year. 

Reportedly, Khoo’s cryptomining daredevil stunt had cost his company an estimated A$76,668 (US$56,133) worth of computer power and other resources.

“This man’s activities diverted these supercomputer resources away from performing significant scientific research for the nation, including pulsar data array analysis, medical research and climate modelling work,” said Federal Police cybercrime operations commander Chris Goldsmid after the sentence.

The defendant’s lawyer emphasized before the local court that Khoo had zero previous offenses, he had admitted his crime before the police, and felt remorseful for his actions. 

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Dodging Prison By A Thread

As per the report, magistrate Erin Kennedy sentenced Khoo to a 15-month intensive corrections order to deliver 300 hours of community service and to continue counseling. This way, he won’t be spending actual prison time but will be serving out his custodial sentence in the community. 

The maximum penalty for offenses of the kind, as per the Australian law, is 10 years in prison.

According to Goldsmid, “malicious cyber activity, including by people on the inside of organizations, was increasing in scale and severity. Authorities urge companies and all government agencies to keep up a strong culture of cybersecurity in order to strengthen their ability to detect possible breaches.”

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Source: https://cryptopotato.com/australian-dodges-prison-after-using-a-supercomputer-at-work-to-mine-crypto/

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