Bitcoin jumped up to as high as $7,300 last night, in a move that was followed by a pretty swift dive back down to below 7,000, where it currently hovers around now. In the 4H chart, we can see a resistance forming at around 7,000, a level that BTC has tested multiple times over the past few weeks but has struggled to break and turn into support. BTC looks to have settled into a range - between 5,600 and 7,000 - and a break of either level should be all the momentum it needs to continue with a longer term trend.
Global market cap is at $151B, while BTC's market cap is at $127B.
A Federal judge has denied Telegram's request to issue its 'Gram' token to non-U.S. investors.
According to U.S District Judge P. Kevin Castel of the Southern District of New York, Telegram's claim to issue its tokens to investors and would make sure these tokens will not end up in the secondary market is not convincing. The Judge wrote that Telegram did not explain how it could prevent secondary sales or how it could lawfully modify the token's purchase agreements to create restriction to non-U.S. investors.
Nicolas Maduro, Venezuela's president, announced a campaign to support his country's doctors amid the coronavirus pandemic by airdropping one Petro to each doctor. The tokens, which are the national cryptocurrency of Venezuela, will be distributed by using their "Patria System," which allows the government to bypass the nation's banking system and issue bonuses and subsidies using the Petro.
While the Venezuelan government claims that the Petro is worth roughly $60, trading platforms currently list the token for only roughly between $20 to $26, showing that it has seen minimal adoption.
Bitfury donated its GPU computer nodes to "Folding@home" coronavirus research project. The project is run by Washington University, and is in need of computer processing power to run simulations for coronavirus protein structure that could help develop a vaccine.
In a statement, Bitfury's CEO Valery Vavilov said, "Our contribution of highly efficient computing power pales next to the selflessness and sacrifice of our medical caregivers and essential staff on the front lines of this virus, but I am confident that this project from Folding at Home, alongside the work of many researchers and doctors, will significantly advance our understanding and treatment of this disease."
This Daily Dose is brought to you by SCI News Channel.