Bitcoin decoupled from the stock markets, Hive hard forked from Steem, freedom of speech threatened due to coronavirus. News of this week by BTCMEX.
Break’N Crypto - Fintech news by BTCMEX
Bitcoin price unleashed
According to last week’s charts, the Bitcoin (BTC) price has decoupled from the crushing traditional markets. By the end of the week, the price bounced back above $6,000. As the stocks crashed earlier, triggering the circuit breakers on the major exchanges, the cryptocurrency price followed the downturn hitting the range of $3,000, and questioning the Bitcoin’s safe haven status during the coronavirus outbreak.
Steem community Hard Fork
Opposing the recent blockchain takeover by Justin Sun, Steem community announced a Hard Fork to launch the new network - Hive.
The fork successfully took place on Friday, March 20, driving the price of STEEM token down by 20%. The community worried that Steemit, now controlled by Justin Sun, might use the stake for its own profit, announced the split to keep the network truly decentralized. Reportedly, eight exchanges have already agreed to support the Hive airdrop.
STO French Revolution
Blockpulse - the Security Token Offering platform - has obtained the registration with the ACPR Bank of France. The announcement was made by the company’s COO Marien Irzykiewicz.
Along with the Blockpulse, Bank registered its partner Lemonway - the leading European digital payment solution for investment platforms.
Find out why regulators trust STO on BTCMEX.
Free VPN for journalists
Freedom of speech has been threatened during the outbreak of COVID-19, convinced the peer-to-peer VPN provider Orchid. The US-based company announced offering free services to accredited journalists in response to the press censorship witnessed recently.
A private network will be provided for all the qualified mass-media contributors who provide proof of their status all over the world.
Tether launches on Bitcoin Cash
The biggest stablecoin in the crypto space Tether (USDT) is now available on the Bitcoin Cash network. The coin is currently capped at $5.7 billion. It is also available on Ethereum, Algorand, EOS, Liquid Network, Omni and Tron.
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications,” announced the Tether CTO, Paolo Ardoino.
Maker bridges the gap
The MakerDao (MKR) community announced an auction to cover the network debt. The system was designed to auction newly minted MKR in exchange for DAI. The emergency actions were taken after the sudden Ethereal price crash on March 12, leaving a significant amount of DAI undercollateralized.
The auction is currently reaching its final stages. Reportedly, $2 million of MKR is expected to be bought with DAI. As a result, the number of unfair but necessary liquidations occurred, triggering active discussions about compensations in the community. Liquidations serve as the main mechanism to peg the stablecoin to the US Dollar. The auction was proposed to cover the hole in the collateral.
Break’N Crypto - stay current with BTCMEX