Business

Gathering together the most recent data on the cryptocurrency and blockchain job market, a new report suggests that higher levels of institutional adoption have spurred greater demand for expertise in the sector. According to the employment website Indeed — cited Thursday in Korea IT Times — as of mid-July 2021, the overall share of crypto and blockchain job postings on the platform has grown 118% compared with early September 2020.  This solid growth has also come with a shift in the roles being sought after, with the share of management posts in crypto and blockchain increasing 29.87% year-on-year as of July 16. Human resource accounts have risen 200% over the same time frame, whereas software development jobs have dropped down to 29.7% of all crypto and blockchain posts c...

Between Bitcoin (BTC) breaking the $50,000 hurdle and the upswell in the altcoin markets, crypto has never been more appealing to speculators. But, stacking profits through trading is worthless unless that money is spent. Luckily, charitable organizations are waking up to the possibility of crypto donations as the world embraces crypto. For blockchain entrepreneur Wendy O, when a local gym was in jeopardy, she knew to tap into crypto Twitter for help. Using social media, her YouTube channel and Tik-Tok, the influencer sent out the call to save a business dear to her heart. The Self Care Lab is a boxing gym located in Pomona, CA which caters to underprivileged and at-risk youth. Owner Nita Watson recently discovered that the ownership of the gym’s building had changed hands and she had a me...

South Africa’s Financial Sector Conduct Authority (FSCA) has warned the country’s public against dealing with crypto exchange platform Binance. In a statement issued on Friday, the FSCA stated that Binance Group, an “international company” domiciled in Seychelles, was not authorized to render financial services in the country. Binance is headquartered in the Cayman Islands and Seychelles. As part of the warning, the FSCA indicated that South Africans were using a Telegram group to gain access to Binance’s crypto exchange services in the country. In addition to the warning against using Binance, the financial regulator also reminded South Africans that crypto investments are not regulated in the country. “As a result, if something goes wrong, you’re unlikely to get your money back and will ...

The United States Securities and Exchange Commission is reportedly investigating the startup behind the world’s largest decentralized cryptocurrency exchange, Uniswap. The U.S. securities regulator has initiated a probe into Uniswap’s main developer, Uniswap Labs, the Wall Street Journal reported on Friday. The report says that enforcement attorneys are now looking for information about Uniswap’s marketing and investor services, citing anonymous sources familiar with the matter. A spokesperson for Uniswap Labs reportedly said the firm is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” Uniswap is a decentralized exchange that enables users to swap between Ethereum-based coin...

Solana (SOL) started Friday at a new record high as investors continued to bet positively on its success in the decentralized finance (DeFi) and nonfungible tokens (NFT) sector. The SOL/USD exchange rate reached $146.28 for the first time in history, following a 35% month-to-date rally. The huge upside move lifted the pair’s returns for the year above 7,500%, taking Solana’s market capitalization over $41 billion to make it the seventh-most valuable project in the cryptocurrency space. Solana’s run-up to record highs also brought overvaluation risks in focus, with a classic momentum indicator, the relative strength index (RSI), returning an overbought reading for the cryptocurrency. Above 70, the RSI suggested that SOL/USD could undergo a sell-off in the coming sessions and that opening a ...

Buying an asset in a downtrend can be a risky maneuver because most investors struggle to spot reversals and as the trend deepens traders take on deep losses. In instances like these, being able to spot descending channel patterns can help traders avoid buying in a bearish trend. A “descending channel,” also known as a “bearish price channel” is formed by drawing two downward trendlines, parallel to each other, which confine the price action of the asset. Descending channel basics In a downtrend, the price action forms a series of lower highs and lower lows. A descending channel is drawn by joining the lower highs and the lower lows using parallel trendlines. The main trendline is drawn first where two or more lower highs are connected. Then a parallel line, also called the channel line, i...

Bobby Lee “blames” his brother Charlie — the founder of Litecoin — for causing the 2017/2018 Bitcoin price crash. He’s joking of course. Sort of. Charlie famously sold the last tranche of his Litecoin holdings in December 2017 for $350 each. Bobby remembers seeing the news hit Twitter. “I was like, gosh, that probably marks the peak,” he says. “I said to him jokingly, like ‘you just caused the end of the bull market’.” Of course, Charlie wasn’t the real reason the bull market ended, but it was a stunning piece of market timing, given he sold the last of three tranches of LTC at almost the exact top. It was no fluke either, as Charlie had predicted in early December that a “multi-year bear market” with 90% drawdowns was imminent. The question is whether ordinary crypto traders and hodlers c...

Bloomberg’s senior commodity strategist Mike McGlone has doubled down on call for six-figure Bitcoin (BTC), arguing that the first-born cryptocurrency is well on its way to becoming a global reserve asset that complements the United States dollar.  The September edition of Bloomberg’s Crypto Outlook called $100,000 BTC and $5,000 Ether (ETH) the “path of least resistance” after the two assets survived a more than 50% correction through the summer. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start,” wrote McGlone, referring to the second half of 2021. He said portfolios lacking BTC or ETH exposure are “naked,” as evidenced by the relative underperformance of gold and government bonds: “Portfolios of som...

What is protecting an investment portfolio from potential stock market volatility? As per Bloomberg Intelligence’s Mike McGlone, a merged exposure of Bitcoin (BTC), gold, and government bonds. The senior commodity strategist, who sees BTC heading to $100,000, pitted derivatives in a new report representing the three safe-haven assets against the performance of the S&P 500 index, finding that the trio has been outperforming the benchmark Wall Street index at least since the start of 2020. Bitcoin-Gold-Bonds performance against the S&P 500 index. Source: Bloomberg Intelligence The Bitcoin-Gold-Bonds index took data from the Grayscale Bitcoin Trust (GBTC), SPDR Gold Shares (GLD) and iShares 20+ T- Bond ETF (TLT). The three funds enable investors to gain exposure in the...

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Nigeria’s central bank partners with fintech firm Bitt Inc. for CBDC rollout Central bank digital currencies, or CBDCs,  which some have described as the spawn of Satan, made headlines this week after multiple countries ramped up efforts in developing their own digital money. On Aug. 30, it was reported that the Central Bank of Nigeria, or CBN, issued preliminary guidelines for its proposed e-naira digital currency. On the following day, news broke that Barbados-based fintech firm Bitt Inc. signed on to w...