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MATIC Token Now Listed on Australia’s Biggest Crypto Exchange Swyftx

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Scalability focused blockchain platform Matic Network announced on Thursday that its native token MATIC is now listed on the biggest crypto exchange in Australia, Swyftx. It further added that the users of Swyftx will now be able to purchase MATIC tokens using the fiat currency Australian Dollar.

Swyftx is the largest in the country, with a fast-growing userbase that currently stands at 25,000 users. Users can buy, sell, and store their tokens on the Swyftx mobile app, which allows them to convert fiat to crypto and vice versa. In the past couple of years, Australia has emerged as one of the fastest-growing crypto markets, despite having humble crypto beginnings. Among the developed countries, Australia, along with the US, UK, France, and Germany, is moving towards mass adoption of crypto services.

Based on the Ethereum Blockchain, Matic Network is one of the fastest-growing networks for scalability and speed. It has become one of the preferred networks among developers for building decentralized applications, especially because of its low-cost transactions and faster transaction speeds. The mainnet of Matic Network went live in June earlier this year, and since then, the network has managed to strike important partnerships and collaborations within the industry.

Source: https://www.cryptonewsz.com/matic-token-now-listed-on-australias-biggest-crypto-exchange-swyftx/

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Ethereum fights to stay above $600 while breakdown to $565 seems inevitable

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  • Ethereum is holding firmly to the ascending parallel channel’s lower boundary support.
  • The breakdown to the 50 SMA will be validated if Ethereum closed the day under $600.

Ethereum recently reclaimed the position above $600 but has failed to sustain the uptrend to the next resistance at $520. At the time of writing, the smart contract giant is dancing at $605 amid firm calls for declines under $600. On the downside, losses below the crucial support might extend to $565.

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Ethereum is on the verge of a breakdown

Ether is fighting tooth and nail to hold the support at the ascending channel’s lower boundary. The bearish outlook was validated after the price closed the day under the middle layer resistance. Moreover, the bearish narrative will be confirmed if ETH made a daily close under the crucial level at $600.

For now, the least resistance path is downwards, especially with the Relative Strength Index gradually moving toward the midline. The expected losses might stretch to the 50 Simple Moving Average at $565 on the 4-hour chart. However, the subtle buyer congestion at $565 could absorb some of the selling pressure.

ETH/USD 4-hour chart

ETH/USD price chart
ETH/USD price chart by Tradingview

Therefore, it should the bulls’ priority to keep the price above $600 and defend the support at the ascending channel’s lower boundary. This will play a very vital role in ensuring the bearish outlook is sabotaged.

Ethereum will embark on the uptrend to the recent yearly high at $636 if the support at $600 is defended firmly. Trading above the hurdle at $620 is likely to call for more buy orders. If enough buying pressure is created, ETH/USD might even overshoot the yearly high for new highs towards $700.

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Ethereum intraday levels

Spot rate: $605

Relative change: -10

Percentage change: -1.7%

Trend: Bearish bias

Volatility: Expanding


To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/ethereum-fights-to-stay-above-600-while-breakdown-to-565-seems-inevitable/

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Hackers Demand 200 Bitcoin Ransomware After Compromising Leading Israeli Insurance Company’s Sensitive Data

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A notorious hackers’ group called The Black Shadow has compromised one of the largest insurance companies in Israel – Shirbit. The attackers have already released sensitive client documents and have demanded a ransom in bitcoin, which could rise to $4 million by the end of the week.

Israeli Insurance Company Hacked

According to a local media outlet, the first confirmation of the hack came on Monday evening. Representatives of The Black Shadow group posted an initial batch of compromised documents on a Telegram channel.

Shirbit had contacted the National Cyber Directorate and Capital Market Authority to open an investigation. Shortly after, the organizations confirmed the breach and indicated that the hackers have also leaked numerous insurance details, alongside the initial documents.

According to the report, Shirbit has many high-profile customers, including government employees. Company CEO Zvi Leibushor said that the safety of its clients is Shirbit’s top priority.

“Shirbit has invested millions of shekels in securing databases and protecting against cyber-attacks and meets all the stringent regulatory requirements in this area.” He added that the firm has invested “all resources and efforts needed for an effective safe and rapid solution to this cyber-attack, whose real goal is to try to harm the Israeli economy.”

Demand Requested In Bitcoin

After releasing a small part of the compromised documents, The Black Shadow reps have contacted the victims to request 50 bitcoins (about $960,000 with today’s prices).

However, in case Shirbit failed to pay the attackers within the first 24 hours, the demand would double to 100 bitcoins. The procedure will repeat and double to 200 bitcoins if another 24 hours pass without payment.

Furthermore, the hackers threatened the insurance company that if it fails to transfer the funds by the end of this week, they will sell all compromised data to other bidders.

It’s worth noting that numerous other Israeli companies and high-profile individuals have recently become victims of similar hacks and demands.

CryptoPotato recently reported that 20 Israeli crypto executives, all clients of the local telecommunications giant Partner, were hacked by stealing their SMS messages.

Another coverage informed that a new type of ransomware attacked called Pay2Key has been executed against several Israeli companies in the second part of 2020. The perpetrators had requested the demand in bitcoins, similarly to the Shirbit hack.

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Source: https://cryptopotato.com/hackers-demand-200-bitcoin-ransomware-after-compromising-leading-israeli-insurance-companys-sensitive-data/

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Bitcoin Price to Hit $36,000 in 2021: Kraken Crypto Sentiment Survey

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From what happened in the last couple of weeks, it appears that the crypto bull market is upon us. Bitcoin has been consistent with its volatility-induced rallies, and this is infusing confidence in investors.

So much, so that VIP clients in Kraken’s latest Crypto Sentiment Survey say that BTC will skyrocket to about $36,000 in 2021. They also feel that ETH could revisit its previous highs of $1500.

Bitcoin And ETH To Trade At Average Prices Of $15K and $549 By 2020 End

The latest Kraken Crypto Sentiment Survey covers investor sentiment for the second half of 2020. The exchange had already conducted a similar survey back in March this year. But then investors were way more optimistic about BTC and ETH price growth by December.

Now, the same respondents have retracted their bullish calls for bitcoin and ether (ETH) this year. According to the latest numbers,

The average bitcoin price target among 309 responses fell -35% surveyover-survey to $14,866, well below February’s average of $22,866. The median price target also retraced -28% from $19,424 to $14,000, and the most commonly cited price target was $15,000, down -25% from $20,000.

With respect to ether (ETH), the average price target among 289 responses was $549, off -32% from the previous survey’s average of $810. The median price target was unchanged at $500 and the most frequently cited price target was $500, up +66% from $300.

At 72 percent, traders and investors (down from 81 percent when the survey was conducted in March) comprised a majority of the survey responses. 18 percent of responses came from Institutions (broker, custodian, family office, hedge fund, lender, market maker, private equity firm, proprietary trading firm, or venture capitalist).

And the rest 4 percent – from crypto service providers (ATM, exchange, lender, payment processor) and miners. As compared to March, the researchers at Kraken anticipated a lower price growth optimism from the said respondents since the year is so close to its end.

The Outlook For 2021 Remains Super Bullish

When asked about how they see bitcoin and ether prices in the next year, respondents didn’t shy away from expressing their mega bullish calls. Survey participants called for an average bitcoin price target of $36,602 in 2021. Some put the median bitcoin price target at $25,000, but a lot of folks (approximately 61 percent) felt if not anything else, BTC will at least hit $20,000.

A small section of respondents reported hopium-induced ultra bullish calls.

Approximately, 8% of respondents provided a price target greater-than-or-equal-to $100,000, roughly 20% of respondents reported a price target greater-than-or-equal-to $50,000…

Survey participants were very optimistic about ETH’s outlook as well in the next year. This sentiment came from the discussions around Ethereum’s network upgrade and the growing popularity of the DeFi ecosystem. Respondents think ETH will trade at an average price of $1454 in 2021. Also, at the same time:

Close to 59% believe that ether will, at least, hit $800. Additionally, 22% of respondents see ether surpassing its previous all-time high of $1,595 set in early-January 2018 and just under 92% see ether, at the very least, trading higher than current price in 2021.

What becomes evident from the aforementioned numbers is that participants in a price prediction survey tend to project bullish figures for a longer-term.

Will Bitcoin(BTC) and ether (ETH) hit the above price targets in 2021? That still remains to be seen.

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Source: https://cryptopotato.com/bitcoin-price-to-hit-36000-in-2021-kraken-crypto-sentiment-survey/

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