The Malaysian Palm Oil Council (MPOC) and blockchain startup BloomBloc have developed a blockchain app that enables users to trace palm oil throughout the entire supply chain. Following a successful test, the blockchain-based system is available in a pilot roll out to local oil palm growers, palm oil processors, plantations and family owned smallholders, according […]
DLive was soon integrated into the BitTorrent ecosystem.
Bitcoin (BTC) has now been removed as a payment option on the Livestreaming platform and has been replaced by TRX, BTT and TRC-20 USDT.
Back in December 2019, the Tron Foundation acquired the popular livestreaming platform of DLive and soon integrated it into the BitTorrent ecosystem. Justin Sun further explained how the platform would enhance his vision of decentralizing the web.
DLive is one of the best real-world examples of what is possible when you combine blockchain and digital media. DLive is a great solution for live media producers. Think of how valuable live streaming content is already to centralized social media platforms who take ownership and advantage of their users’ hard work. We look forward to DLive bringing value to the entire world with the addition of TRON and BitTorrent’s global community of passionate creators.
Bitcoin Removed as a Payment Option on DLive
In an announcement earlier today, the team at BitTorrent announced that Bitcoin (BTC) had been removed as a payment option on DLive. Payments on the platform will now be through the use of Tron (TRX), BitTorrent (BTT) and the TRC-20 version of Tether (USDT). The Tweet making the announcement can be found below.
📣Attention please!#DLive removed $BTC as a Get Paid option and added 👇👇👇 ✅TRC-20 USDT ✅TRX ✅BTT as Get Paid option!
One benefit of using assets on the Tron blockchain is the speed at which transactions are completed. The time it takes to settle transactions on the Tron blockchain has been observed to be as fast as 3 seconds. This is efficient and convenient when compared to the time it takes to complete a BTC transaction: 10 minutes to a few hours depending on the mining fee paid.
Possible Effects on the Value of TRX and BTT
Statistics from DApp.com indicate that DLive has over 5 million monthly active users and more than 800,000 active broadcasters. This, in turn, means that the ‘money’ used on the platform will be TRX, BTT and TRC-20 USDT. As a result, there will be an increment in demand for these digital assets.
However, the value of both Tron (TRX) and BTT is also tied to the success of the King of Crypto: Bitcoin (BTC). Therefore, an increase in demand for Tron and BTT will not necessarily translate to a corresponding increase in value. This is seen when we factor in the current market conditions brought about by the economic effects of the Coronavirus. For TRX and BTT to exhibit considerable gains, Bitcoin has to also thrive and decouple from the traditional markets.
(Feature image courtesy of JESHOOTS.COM on Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
The US Congress finally agreed to a $2 Trillion stimulus package.
Bitcoin (BTC) reacted positively to the news and traded briefly at $6,960, Binance rate.
However, the $6,900 resistance area and the CME Bitcoin futures expiry this week, might delay BTC from reclaiming $7,000 and turning it into support.
The two major parties in the United States Congress have finally agreed regarding the workings of a stimulus package that will attempt to offset the economic effects of the Coronavirus. The stimulus will be worth $2 Trillion and its chief goal will be providing relief for businesses and Americans in the largest bailout ever in the country’s history. News of the agreement excited both the stock markets and Bitcoin (BTC) as well. However, the King of Crypto is having a difficult time reclaiming $7,000.
Bitcoin Unable to Break the $6,900 Resistance Zone
News of a possible bailout started to hit the news outlets on Monday, March 23rd. Since then, Bitcoin has managed to rally from $5,800 to a recent high of $6,960, Binance rate. When we explore the BTC/USDT 6-hour chart, we find that BTC is having a hard time overcoming a strong resistance zone between $6,900 and $7,000. This can be seen through the volume profile (far right) as well as the 100 Moving average (yellow) which is above the current value of the coin. Also to note is that the 6-hour MACD is about to cross above the baseline indicating a possible drop in value.
6-Hour BTC/USDT Chart courtesy of Tradingview.com
CME Bitcoin Futures Expire this Friday
Additionally, the Bitcoin CME futures expire this Friday, March 27th. Many crypto traders are aware that the expiry of these contracts usually results in Bitcoin losing value a few hours or days before the last Friday of each month. The CME group further explains that trading of these contracts ends at 4 pm, London time.
Trading terminates at 4:00 p.m. London time on the last Friday of the contract month. If that day is not a business day in both the U.K. and the US, trading terminates on the preceding day that is a business day for both the U.K. and the U.S
Summing it Up
In summary, the US Congress has agreed on a $2 Trillion stimulus package that has resulted in both the stock and crypto markets regaining some of the losses experienced earlier this month. However, BTC still faces two hurdles before regaining $7,000: the tough $6,900 resistance zone as well as the expiry of the CME Bitcoin futures this Friday.
(Feature image courtesy of Jeremy Chen on Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
Taylor Swift is currently in the middle of a reignited feud with Kanye West and Kim Kardashian. Swift and West’s beef from 2016 is center-stage again thanks to the full, unedited leaked phone call. The singer constantly butts heads with other stars while playing innocent. It’s getting old. Taylor Swift has hit the headlines again, […]
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Bitcoin is up more than 10% and it broke the key $6,400 resistance against the US Dollar. BTC price is now trading near the $6,650 resistance, above which it could surge to $7,000. Bitcoin is gaining traction and it recently climbed back above $6,200 against the US Dollar. The price is now trading above the […]
