The Upside of Bitcoin’s Upside (It’s Not What You Think)

Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. The rally last week in cryptocurrency prices sent tremors of excitement through the mainstream press – is bitcoin “doing its thing” again? Could we be on the verge of a breakout? These reports attract clicks and eyeballs, so I understand why they are run – but their breathless fascination with…

Bitcoin (BTC) Price Signaling Bullish Continuation With Bulls In Control

Bitcoin price corrected lower recently and tested the $4,920 support area against the US Dollar. The price recovered nicely recently and traded above the $5,040 and $5,100 resistance levels. There is a major breakout pattern in place with resistance at $5,130 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate higher and it could even surpass the $5,180 and $5,220 resistances. Bitcoin price likely completed a downside correction near $4,900 against the US Dollar. BTC is grinding higher and the current…

VR Firm Magic Leap Seeks Blockchain Engineers for User Data

Virtual reality (VR) startup Magic Leap is seeking blockchain engineers according to recent listings on employment website Greenhouse. The firm is looking for a senior blockchain architect and blockchain engineers. Among the duties listed for the senior blockchain architect position, the individual will be “planning and execution of a portfolio of blockchain, smart contract, and Ricardian contract technologies in support of the implementation of our Lifestream business function.” In a recent interview with VR industry publication UploadVR, Magic Leap CEO Rony Abovitz said that Lifestream is: “all the data that…

Binance Labs Grants $45,000 to 3 Open-Source Blockchain Startups

Binance Labs, the investment arm of cryptocurrency exchange Binance, has awarded grants of $15,000 each to three startups developing open-source blockchain technologies. Receiving the grants are Ironbelly, a mobile wallet for the Grin/Mimblewimble blockchain; HOPR, privacy-preserving messaging protocol; and Kitsune Wallet, an upgradeable on-chain wallet. The three startups are now the first “fellows” of Binance Labs’s Fellowship program, which funds and supports early-stage open-source development projects, according to a blog announcement Friday. According to Binance Labs director Flora Sun, innovation requires “an engaged community of developers and entrepreneurs who imagine ideas and create…

Ethereum Core Developers Debate Benefits of More Frequent Hard Forks

How often is too often to alter consensus? A group of ethereum’s veteran open-source developers discussed the subject in a bi-weekly meeting Friday, wherein they aired the possibility that system-wide upgrades, also called hard forks, to the software could be enacted as often as every three months. Wanting to “check the temperature,” the developer asking the question explained that certain upcoming ethereum improvement proposals (EIPs) such as state rents would require multiple upgrades sequentially spaced out for full effect. Three months, however, in the eyes of Joseph Delong, senior software engineer at venture…