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Wednesday, July 29, 2020

#CryptoCorner Episode 431: BTC Passes $11K as Rally Continues, Bakkt (NYSE: $ICE) Futures Hit Record Highs, HIVE (TSXV: $HIVE.V) to Partner with EU Research Project

#CryptoCorner Episode 431: BTC Passes $11K as Rally Continues, Bakkt (NYSE: $ICE) Futures Hit Record Highs, HIVE (TSXV: $HIVE.V) to Partner with EU Research Project

 


Point Roberts, WA, Delta BC, July 29, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2020/072920-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2020/crypto-corner/07291BTC-ICE-HIVE.asp

 

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Stocks discussed: (NYSE:ICE) (TSXV:HIVE)

 

Bitcoin (BTC) has continued to rally, having gained nearly $1,000 since Mondays’ Crypto Corner, and is now clocking in at a trading price of about $11,100, according to data from CoinMarketCap. $10,500 was identified as a crucial support level on our last episode, and Bitcoin never went below that point after reaching it later on Monday. Also on Monday, Bitcoin cracked the $11,000 mark, even peaking at about $11,250, and has since been oscillating by a few hundred dollars.

 

As Bitcoin was rallying, Bakkt, the crypto subsidiary of Intercontinental Exchange (NYSE:ICE), yesterday tweeted that it broke a record for Bitcoin Futures traded:

 

Talk about momentum! We beat yesterday's record with 11,706 Bakkt Bitcoin Futures traded today - that's over $125MM of bitcoin

 

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has announced that it will become a development partner in the Boden Type Data Center (BTDC) research project, described in the press release as “a European Union-funded project with the key objective of demonstrating a range of highly innovative key engineering principles to construct the most cost- and energy-efficient data centers with minimal environmental impact.” Tobias Ebel, Board Director, HIVE, explained:

 

"Our mission at HIVE is to provide High Performance Computing capacity with environmental responsibility. Our past achievements have been very good but the BTDC presents an opportunity to set new standards for this sector.”

 

Frank Holmes, Interim Executive Chairman of HIVE, said:

 

“Large scale HPC, including for mining of cryptocurrencies such as Bitcoin and Ethereum, is a growth market. This research project is designed to provide us one of the foundations to making HIVE a more efficient and profitable operation with the lowest environmental impact.”

 

Japanese outlet The Asahi Shimbun reports that the Bank of Japan is to “begin substantive testing of digital currency,” and that a central bank digital currency (CBDC) has become “one of the top priority issues,” for the central bank. Takeshi Kimura, the central bank's department director-general indicated that in its work on the CBDC, the BOJ “would cooperate with the private sector, which may have more in-depth technical knowledge about the issue.” The report further indicates that pressure to keep up with China is also encouraging the central bank to speed up its efforts.

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

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