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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Stellar Lumen price prediction: $0.08 key for XLM price movement

Stellar Lumen price correcting below $0.85 XLM/USD recorded a new monthly high at $0.0877 Clearing below $0.080 could spark a bearish break XLM is currently trading in a positive zone The Stellar Lumen price has depreciated from $0.119 to $0.07 in just over two months. This decline’s primary reason is down to the low transaction […]

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  • Stellar Lumen price correcting below $0.85
  • XLM/USD recorded a new monthly high at $0.0877
  • Clearing below $0.080 could spark a bearish break
  • XLM is currently trading in a positive zone

The Stellar Lumen price has depreciated from $0.119 to $0.07 in just over two months. This decline’s primary reason is down to the low transaction volume and uncertainties clouding the Stellar Lumen project. The XLM/USD pair is presently trading in a positive zone above the $0.08 price level. 

Stellar Lumen daily price recap

Stellar Lumen price prediction: $0.08 key for XLM price movement 1
XLM/USD daily chart:Tradingview

Currently, the XLM/USD pair is trading at $0.08379, with a daily trading volume of $151,864,159. During the previous 24 hours, Stellar Lumen price has dropped by 0.24 percent. The token opened the day trading at $0.08307 after closing the previous day at $0.08337. So far, the price has ranged between $0.08264 — $0.08425.

XLM/USD 4-hour chart

Stellar Lumen price prediction: $0.08 key for XLM price movement 2
XLM/USD 4-hour chart: Tradingview

After bitcoin’s price spike, the XLM/USD pair managed to gain, soaring past the $0.084 price level. In fact, the pair managed to breach the resistance zone near $0.085 before settling above the 55 SMA on the 4-hour chart.

The bulls managed to record a new monthly high of $0.0877 before the Stellar Lumen price action commenced on a downside correction. The XLM/USD pair corrected below the critical support level at $0.085, breaking out of a crucial bullish trendline that was shaping up anchored near $0.084, as highlighted on the above chart. 

Stellar Lumen price prediction

The XLM/USD pair has support near the $0.082 price level. If the Stellar Lumen price deepens below this support zone, the bears are open to testing the critical support levels at $0.080 and $0.0794. The sellers must clear off the buying pressure near $0.0785 to spark a bearish breakdown driving the market into a negative zone. 

On the contrary, the Stellar Lumen price action might remain above the $0.08 fundamental support level. The immediate resistance zone is near $0.085, while the vital sell-off zone is near the $0.087 price level. If the bulls can manage to clear the selling pressure at these two levels, the XLM/USD pair could be open to more gains past the $0.088 and $0.090 price levels.

A surge past the $0.090 price level is a buy signal and would open up a way for Stellar price to test the $0.10 price level. 

In other news, the Stellar Development Foundation (SDF) recently announced an essential update for Stellar Blockchain users. After discovering bugs’ presence in the Stellar Protocol 14 testnet, which was launched back in September, the vote for the mainnet update has been pushed to November 23, 2020. After taking care of the bugs, the SDF launched the testnet on October 20 as protocol 15. 

The fresh features revealed for the blockchain will be executed when protocol 15 will be launched on the mainnet next month. The two notable features of the update include Claimable Balances and Sponsored Reserves. 

Disclaimer. The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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More than $24M stolen from Harvest Finance by hacker

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The DeFi sector has once again suffered a major blow in an attack targeted at yield farming protocol, Harvest Finance

News emerging this morning reveals that a hacker drained over $24 million from Harvest Finance, who are in the process of making the FARM token tank. According to CoinGecko, the platform’s native token plummeted by 65% less than an hour after the exploit. The details of the hack remain unclear at the time of press.

Analytics service provider, DeFi prime, corroborated news of the attack via Twitter saying, “Something shady is going on with Harvest Finance and huge arbs between Harvest and Curve. It’s a developing situation and needs to be monitored closely.”

The Harvest Finance team has been updating users with the specifics through twitter feed. It seems that the attack was targeted on its Curve y pool. The hacker is said to have cashed out almost all the stolen funds through renBTC and Tornado. The hack resulted in investors pulling out about $350 million from the protocol.

Harvest Finance’s social media team sent a post via Twitter reading, “We are working actively on the issue of mitigating the economic attack on the stablecoin and BTC pools, and will update in this thread in real-time as soon as additional details are available.”

Harvest Finance has undertaken security action to safeguard users on its platform.

“To be specific: to protect users, 100% of stablecoin and BTC curve strategy funds have been withdrawn from the strategy to the vault.”

At the moment, not much is known about how the attack happened or if it was a consequence of a smart contract code flaw. Harvest Finance claims that its smart contracts have been reviewed and evaluated by PeckShield and Haechi Labs.

Just like Yearn Finance, Harvest Finance pursues the highest earning pools to farm and is currently among the top 5 platforms. According to DeFi pulse, it had more than $1 billion in total value locked by the end of last week. This value has, however, started plunging as a result of the news of the attack.

Source: https://coinjournal.net/news/more-than-24m-stolen-from-harvest-finance-by-hacker/

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Public support needed to launch a CBDC in Japan

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According to an official from the Bank of Japan, the central bank won’t be able to launch a CBDC without public support

Just around a week ago, the Bank of Japan (BoJ) announced it was considering a CBDC test sometime next year. The bank already created a team that would expedite the viability of a virtual currency in the country. However, based on a statement from the bank’s top official, the BoJ will not launch the virtual currency if public support isn’t factored in.

Other reports emerging suggest that Japan feels no urgency in launching a CBDC. According to the payment system head at the Bank of Japan, Kazushige Kamiyama, the bank is yet to decide on whether or not to launch a sovereign digital currency.

Kamiyama also noted that the bank must first gather the opinion and support of Japan’s citizens on the matter before proceeding to develop a digital yen.

There is a notion that central banks are afraid of cryptocurrencies like Bitcoin. At the beginning of October, the Bank of International Settlements published a paper revealing the reason behind the rush from central banks around the world to adopt CBDCs; they fear Bitcoin. They particularly fear that Bitcoin could disrupt already established financial and monetary policies.

Kamiyama explained that if the BoJ agreed to launch a digital currency, it will have to ensure that the currency can coexist with paper currency as well as other payment forms.

Currently, the Bahamas and China lead the way in terms of CBDC adoption. The Bahamas fully deployed its sovereign virtual currency dubbed Sand Dollar last week, making it the first country to adopt a CBDC beyond its pilot program. China, on the other hand, is laying a regulatory foundation for digital yuan adoption.

The US is still lagging on the subject. Speaking in a panel hosted by the International Monetary Fund, the Federal Reserve Chairman, Jerome Powell, stated that the country should be more interested in getting CBDC adoption right, rather than being the first country to adopt a virtual currency.

Source: https://coinjournal.net/news/public-support-needed-to-launch-a-cbdc-in-japan/

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