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China Releases e-Yuan Cryptocurrency, Though Some Questions Remain

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China has released its e-Yuan cryptocurrency. According to a press release on the matter, this has brought the attention of investors worldwide, many of which hope that the asset will rival that of Bitcoin or Facebook’s upcoming Libra project.

Some believe that the asset can help with the country’s big debt issue. After all, 2.4 trillion of debt is due to illegal loan practices, and blockchain technology may help that.

Speaking on the matter is J. Rothers, a senior blockchain researcher, who says:

“Using smart contracts provided by the e-Yuan currency, the government of China will be able to track assets and liabilities and to ensure that multiple loans are not taken over the same collateral.”

However, nobody knows if this asset will be backed physically like many stablecoins are, or if it will be its own digital asset closer to Bitcoin.

Recently, as InsideBitcoins has previously reported on, it was revealed that China has over a third of the world’s Bitcoin hashpower.

Source: https://insidebitcoins.com/news/china-releases-e-yuan-cryptocurrency-though-some-questions-remain

Blockchain

Bitcoin Price Prediction: BTC/USD Stabilizes Above $9,500 As The Bulls Struggling To Conquer $9,800

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Bitcoin (BTC) Price Prediction – June 1

Bitcoin bulls are working hard to nurture a bullish trend from the support at $9,400.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $10,800, $11,000, $11,200

Support Levels: $8,300, $8,100, $7,900

BTCUSD – Daily Chart

Bitcoin is currently trading 1.46% higher on the day. BTC/USD opened the session at $9,415 and now adjusting upwards to the prevailing market value of $9,584. The first digital coin is moving within the short-term bullish trend amid low volatility. The current conditions imply that the price may stay range-bound during the next trading hours as the coin moves above 9-day and 21-day moving averages. Meanwhile, the technical indicator stochastic RSI may start moving sideways.

At the opening of the market today, after testing the low of $9,415, BTC/USD is currently trading at $9,584. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $10,000, and traders may see $9,200 to $9,000 being tested again before pushing higher.

On the downside, if the market decides to fall, the price of Bitcoin could fall below the moving averages at $9,000, and if that support fails to hold the sell-off, traders could see a further decline below the lower boundary of the channel and towards the support levels of $8,300, $8,100 and critically $7,800. All the same, any further bullish movement towards the upper boundary of the channel may hit the resistances at $10,800, $11,000, and $11,200.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

On the 4-hour chart, we expect the coin to gain the lost momentum and hit the trade above $9,800. However, the volatility hovers, and the selling pressure still exists which leads the coin not to be able to cross above the upper boundary of the channel. Meanwhile, the $9,200 and below may come into play if BTC breaks below moving averages.

BTCUSD – 4 Hour Chart

However, in as much as the buyers can still reinforce and power the market, traders can expect a retest at $9,800 resistance level, and breaking this level may further allow the bulls to reach $10,000 and above. The RSI (14) is seen trading around 58-level which shows that more bullish signals may likely play out.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-stabilizes-above-9500-as-the-bulls-struggle-to-conquer-9800

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Moderna (MRNA) Shares Up 0.37% amid Investors’ Concerns about Stock Sales

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Moderna (MRNA) shares price us slightly up despite the investors’ concerns about stock sales. The stock has lost around $20 from its ATH of $80.

Moderna Inc (NASDAQ: MRNA) stock price is up 0.37% now. However, many in the financial sector are wondering if Moderna (MRNA) shares pulled a fast one on the market. These concerns come as Moderna (MRNA) stock prices rose in tandem with encouraging news concerning its phase 1 trials.

Sources say that the news regarding the m-RNA 1273 vaccine candidate didn’t offer conclusive evidence of its effectiveness.

Moderna (MRNA) Shares Up Despite Stock Sales by Management

Furthermore, eyebrows are being raised at the stock sales by shareholders. Moderna (MRNA) has been accused of hyping the results of its phase 1 trials. This is as Moderna’s (MRNA) Chief Financial Officer and Chief Medical Officer sold about $30 million worth of shares on May 18 and May 19.

Moderna’s announcement was on May 18. Moderna (MRNA) stock surged at the news of promising results of its phase 1 trials. At the time of filing this report, Moderna (MRNA) stock price was $61.73 (+0.37%).

These sales were automated. The automated plans known as 10b5-1 plans set conditions for future stock sales. These sales are out of the control of the management. They exist to avoid potential conflicts of interest. Management executives cannot be accused of manipulation due to insider knowledge.

However, Flagship Pioneering sold about 1 million shares on May 21 and 22. The average price for the stock was $69.47 million.

This gives everyone 69.5 million reasons why the stock sale could have been unethical. Flagship Pioneering is a Venture Capital firm owned by Moderna Co-Chairman Noubar Afeyan. The stock sale has sent shock waves throughout the investment community.

Flagship Sells Stock Independently

The part that has everyone concerned is the fact that the Flagship Pioneering Sales weren’t part of the 10b5-1 plans. Considering that Flagship Pioneering is listed as a Moderna insider.

Though stock sales using the plan are optional, many insiders prefer to do so due to ethical concerns. At the time of public disclosure via filing, Moderna (MRNA) stock had crashed from their May 18 peak. Noubar Afeyan is also the CEO of Flagship Pioneering. The Venture Capitalist Company owned about 51 million Moderna (MRNA) shares according to a March filing.

Afeyan in a recent interview defended the sales saying:

“It was based on our looking at the data and concluding that we needed to have our own resources going into develop this vaccine and not simply wait for government grants.”

These problematic sales have raised questions of unethical sales of stocks. It also comes at a time when critics are questioning the “unscientific” nature of the data presented at the May 18 press briefing.

Scientists have questioned how a press release with so little data could point to conclusive evidence. Moderna (MRNA) and the National Institutes of Allergy and Infectious Diseases (NIAID) have defended it. The real situation surrounding the results will be revealed as soon as the results of the phase 1 trials come out.

Moderna is entering into its phase 2 trials with more than 600 participants. This raises questions about m-RNA 1273 being a dud. However, the only thing appearing to save the vaccine candidate is the validation from NIAID.

Business News, Investors News, Market News, News, Stocks

Christopher Hamman

Author: Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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Source: https://www.coinspeaker.com/moderna-concerns-stock-sales/

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Leading US Crypto Exchange Bittrex Lists WINGS

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Leading US Crypto Exchange Bittrex Lists WINGS
AdvertisementTC    

Zug, Switzerland, June 1, 2020 // Chainwire: The next-generation cryptocurrency exchange Bittrex Global lists WINGS after a prolonged pause in trading following the migration of Bittrex to a new legal jurisdiction. 

Both organizations share a long history of working together and are expected to continue this tradition for the foreseeable future. The WINGS market went live on Bittrex Global on June 1st at 8:00AM PDT.

“We are happy to invite Wings to our global network again. We look forward to working together and seeing the efforts of the Wings team yield results. We are confident Wings is about to surprise us all” – Rahwa Berhe, Vice President & Chief of Staff at Bittrex.

“We are very excited to see that Bittrex Global continues to recognize our value and the value we bring to the blockchain ecosystem. This is a great opportunity for us and we are happy to be listed on this top tier exchange again; the listing shows Bittrex Global’s confidence in the Wings team and in our products, including the upcoming dfinance platform” – Boris Povod, President and R&D lead at Wings Stiftung.

The Wings team has been focused on the development of the new dfinance platform, which is based on Cosmos and Libra’s Move VM and enables the creation and trading of various decentralized financial instruments with no prior coding skills required. The new platform is currently in testnet with a mainnet expected to be released in Q4 2020 while WINGS protocol will remain relevant and complementary. 

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About Bittrex Global

Bittrex Global is one of the leading international cryptocurrency exchanges that provides their services across the globe. The company enables fast trade execution, industry-leading security practices, and innovative approach. The primary mission of the exchange is to help drive innovation in the Blockchain industry by supporting established and brand-new blockchains. Learn more at www.global.bittrex.com.

About Wings Stiftung

Wings Stiftung is a Swiss based non-profit foundation located in the famous crypto valley of Zug. It’s purpose is the promotion of developments, support and maintenance of new technologies and applications, especially in the fields of new open and decentralized software architectures. Learn more at https://wingsfoundation.ch/

Contacts

Wings Stiftung
Arman Manukyan
Council Member
info@wings.ai


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/leading-us-crypto-exchange-bittrex-lists-wings/

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