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June 2007

Litecoin (LTC) Outperforms Bitcoin Ahead of Blockchain Halving

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Litecoin

Litecoin

Litecoin (LTC) continues to outperform other cryptocurrencies ahead of the much-awaited halving of its blockchain. Over the last seven days, the altcoin has averaged 5% in returns compared to just 1% for Bitcoin (BTC). Other cryptocurrencies continue to post mixed fortunes after a meteoric rise in the first half of the year.

LTC Halving

The renewed interest stems from a growing interest in the mining halving process scheduled for August 6. With the halving, miners will end up getting just half of the coins they get now, with each new block mined. The halving process seeks to reduce the amount of LTC coins in circulation.

The fact that miners will end up getting 12.5 coins from 25 coins with each successful mine should lead to less circulation. Considering the forces of supply and demand, this explains why the coin is flying high ahead of the much-awaited event.

Crypto analysts expect Litecoin to continue surging ahead of the big event given the strength of the upward momentum. The crypto is already up by more than 300% from this year’s lows. The analysts have also warned of a potential sharp pullback given that the event appears to be already priced in.

>> TRON (TRX): Is it the Right Time to Buy Ahead of Key Catalysts?

Cryptos Growing Adoption

The resurgence in the crypto sector could as well be attributed to their increased usage, as well as an influx of institutional investment activity in the sector. Technology companies are increasingly finding ways to incorporate cryptos in their day-to-day operations, which has helped to add a layer of credibility after years of concerns.

Increased usage is one of the reasons the likes of Litecoin and Bitcoin are likely to continue rising. Store owners are increasingly adding support for cryptocurrencies as a means of completing transactions. LTC cryptocurrency holders can now use the coin in more than 39,000 places.

Some of the notable stores that accept Litecoin payments include Nordstrom and Barnes & Noble. Flexa Network is the latest network to add support for LTC payments in addition to supporting Bitcoin, Ethereum (ETH), and Bitcoin Cash (BCH).

Featured image: DepositPhotos © PromesaStudio

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Crypto M&A Picks Up Momentum in Asia and Europe, Says PwC

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Crypto M&A

Crypto M&A

Even a few years ago, not many would have thought that crypto M&A, or mergers and acquisitions, were ever going to be a thing. However, it needs to be kept in mind that the crypto space has grown and evolved at a remarkable pace over the course of the past few years. Nowadays, the industry surrounding cryptocurrencies has not only evolved dramatically, but an actual ecosystem has emerged.

Key Details

According to a new report by the consultancy firm PricewaterhouseCoopers, most of the fundraising, as well as M&A, work in the crypto industry used to happen in North America, but that has now changed. The lion’s share of such deals is now being completed in Europe and Asia.

The report from PwC was released on Thursday, and it goes without saying that this indicates a growing sense of maturity in the overall crypto industry. According to the report, as much as 41% of all fundraising was done in Europe in the second quarter of the year, while 34% of the deals were completed in Asia during the same period. Due to the rise in crypto M&A deals in Europe and Asia, it can be said with some degree of certainty that the ecosystem is growing steadily in both these markets.

>> Ripple CEO is Working Hard on XRP’s Success: Is the Pain Over?

However, the rise of such fundraising deals in these two continents also indicates that North America is slowly losing its grip somewhat. According to the PwC report, only 28% of the deals completed in the second quarter belonged to the Americas. A year ago, in the same quarter, the number of deals in the Americas stood at 51%. A senior manager of the crypto and fintech team at PwC has stated that the recovery from Bitcoin this year has been the big reason behind such frenetic deal-making.

That being said, the evolution of the crypto M&A space is a welcome development in the industry and one that should endure even if the price of Bitcoin goes down.

Featured image: DepositPhotos © artjazz

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Bitcoin Cash (BCH) Gains Momentum, Soars 16% on High Volume

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Bitcoin Cash

Bitcoin Cash

Over the past years, the altcoins market has grown at a breathtaking pace, and during this period, Bitcoin Cash (BCH) has emerged as one of the more popular ones. This week, BCH emerged as one of the biggest gainers in the crypto space and gained as much as 16% in the past 24 hours as altcoins seemed to make a comeback.

It should be noted that 2019 was a pretty disappointing year for altcoins; however, things seemed to have changed for the better in 2020. Much of BCH’s surge took place during a four-hour window, and it goes without saying that crypto traders are going to watch BCH closely over the coming days.

Solid Momentum

It was a good day in the crypto space on Wednesday, as a lot of money got pumped into the market, and, according to some reports, the total influx of money stood at a staggering $12 billion. Out of that, as much as $1 billion went into Bitcoin Cash. On Tuesday, the token was trading at $375.03, but after the rally, it jumped to $441.09 per token, and that reflected gains of as much as 16%. The market cap of BCH also climbed considerably, jumping to $7.8 billion in the blink of an eye, so to speak.

Fourth Biggest Cryptocurrency

It is a significant development for traders who are into BCH. The latest rally establishes its position as the fourth biggest cryptocurrency in the world, and such a status can eventually lead to a bigger rally in the coming days.

>> Craig Wright Accused of Abusing Attorney-Client Privilege in Trial

Investors and traders need to watch the developments closely and also look out for opportunities in other altcoins. The latest rally takes the gains generated by Bitcoin Cash for the month to 91%, and it remains to be seen if it can gather further steam in the coming days.

At the time of writing, BCH is trading at $443.50.

Featured image: DepositPhotos © SergPoznanskiy

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Deloitte Launches Demonstrational “Blockchain in a Box” Platform

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Deloitte

Deloitte

Multinational consultancy firm Deloitte has announced the release of its “Blockchain in a Box” platform that hosts demonstrations and experiments of distributed ledger technology in business applications.

Blockchain in a Box Platform

According to the company’s press release on August 9, the development of the “Blockchain in a Box” BIAB platform was inspired by customer interest in understanding the potential of distributed ledger technology in real-life circumstances. Business start-ups find it hard communicating to stakeholders about the unique benefits of blockchain and therefore Deloitte will be looking to fill that gap with its BIAB platform. The BIAB platform is mobile-based and will make it easier for developers to demonstrate, prototype, and even share projects efficiently.

Commenting on the launch, the US blockchain leader at Deloitte, Linda Pawczuk, indicated that the “Blockchain in a Box” platform is a mobile and self-contained platform that has the ability to host blockchain-based solutions in the form of four compute nodes, three video displays, as well as networking components to enhance integration with external services such as cloud communication and storage.

Each compute node can be used with a secured digital card to allow the business to demonstrate and share projects quickly. This approach enables developers to have a tool for the creation and sharing of dApps with limited hardware.

Solving the Problem of Developing Proof-of-Concept

At the beginning of this year, Deloitte carried out a Global Blockchain Survey, which showed that most start-ups do struggle when it comes to where to get started in developing proofs-of-concept that leverage the exceptional features of blockchain technology.

>> Ripple Partnership: Santander Group Expands the Usage of One Pay FX

Pawczuk stated that with the platform, executives will no longer be asking questions about blockchain but rather a series of questions that reflect on the role distributed ledger technology can play in their organizations. She added that there is the misconception of blockchain being a tech solution when, in reality, it is a technology component that can enhance broader business applications as well as approaches.

Deloitte, along with other 20 firms including Fidelity and Amazon (NASDAQ:AMZN), recently started supporting Startup Studio, an accelerator program that offers workshops to blockchain startups to enhance various skills.

Featured image: DepositPhotos © nils.ackermann.gmail.com

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