The price of VeChain (VET) extended its rally on Wednesday, building off a solid week of gains following discussions with Chinese government officials centered on a post-epidemic health response. VeChain rose 2% on Wednesday to reach $0.011669, according to CoinMarketCap. Over the past seven days, the supply-chain management cryptocurrency is up over 23%. Only two other top-30 coins -- NEM (XEM) and Chainlink (LINK) -- have outperformed VET over the past seven days. At current values, VeChain has a market capitalization of $751 million. The cryptocurrency’s uptrend appears to have coincided with a meeting of high-ranking officials from China’s Hubei …

The price of Bitcoin (BTC) has seen extreme volatility in the past 24 hours. After the Dow Jones Industrial Average abruptly rose by more than 800 points, BTC plunged in tandem with gold. Within five hours of achieving a four-day peak at $15,840, the dominant cryptocurrency abruptly plummeted 6.5%. Following the correction of BTC, analysts and traders remain divided on its near-future prospects. The short-term pullback of Bitcoin, which happened within several hours, was beneficial for BTC for three key reasons. First, it neutralized the derivatives market, which is no longer overheated. Second, it led to a healthy rejection of …

Professional traders are often perceived to be the smartest, as they weigh the risks before investing in an asset class. Opposite to that, most retail traders only keep an eye on the possible profits and disregard the risk before investing. Therefore, the increase in the number of Bitcoin (BTC) addresses holding more than 100 Bitcoin to a seven-month high, at 16,271, could be considered as a bullish sign. Furthermore, the low search volume for the keyword “Bitcoin” suggests that the current rally lacks the frenzied retail buying seen during the previous bull market in 2017. PlanB, the creator of the …

The price of Bitcoin (BTC) rose to as high as $15,840 before crashing to $14,800. Just five hours after reaching an intraday top, the dominant cryptocurrency dropped over 6%. This massive spike in volatility was likely caused by three major factors. The three catalysts for the abrupt downtrend were the recovery of the dollar, the decline in gold price as Pfizer announced that its COVID-19 vaccine trials are producing positive results, and whales dumping BTC. Precious metals and Bitcoin fell in tandem According to the Associated Press, Pfizer announced that the third phase of its vaccine trials is going well. …

Bitcoin (BTC) fell sharply in price this morning as pharmaceutical company Pfizer, in collaboration with biotech company BioNTech, announced a breakthrough in its COVID-19 vaccine. Bitcoin fell approximately $1,000, over 6%, between 12:00 pm and 3:00 pm UTC today on the vaccine news, from $15,800 down to a daily low near $14,815, based on TradingView data. Crypto's pioneer asset bounced slightly by the time of publication, sitting near $14,908. Earlier this morning, Pfizer publicized a statement claiming its COVID-19 vaccine has shown to be roughly 90% effective. The company said its numbers come after testing 43,538 subjects. The vaccine, however, …

The United States Federal Reserve is still unintentionally advertising Bitcoin, as Chair Jerome Powell argues for more money printing. In a tweet on Nov. 6, Tyler Winklevoss, co-founder of crypto exchange Gemini, said that Powell’s latest speech this week was “code for buy Bitcoin.” Powell: Congress should agree to more stimulus Powell was addressing a news conference, which followed the Fed’s Nov. 5 meeting on the state of the economy and future measures. As before, he reiterated that the central bank had not exhausted its range of tools for supporting the economy. These have so far included heavy interventions in …

On Friday the Swiss town of Wetzikon -- formerly best-known for its idyllic pastures and churches -- launched a blockchain-based program to support small and medium-sized local businesses affected by the Coronavirus pandemic. Valued at 250,000 Swiss francs ($280,000), the initial aid disbursement will be funded with a municipal credit line earmarked for the Coronavirus and will be distributed to the roughly 25,000 inhabitants of Wetzikon in the form of an eCoupon worth 10 Swiss francs. Residents can access the disbursement through a smartphone app, “ecoo,” which will be using the aid program as a pilot trial for its platform. …

Five innovative blockchain-based solutions for tackling the coronavirus pandemic have shared a prize pool worth 15,000 euros ($17,640) after being chosen as the winners of a technology company’s first-ever hackathon. As reported by Cointelegraph last month, Maxonrow had set a series of challenges for talented developers with bright ideas to help stop the spread of COVID-19. The company’s aim was to deliver new use cases and solutions for MedsLOCK, a control and communication system that provides real-time insights related to the outbreak. The winner of the Physical Distancing category was “Move-Safe,” which created an algorithm that creates a live map …

According to an Oct. 15 report from The Canadian Press, Timothy Lane, deputy governor of the Bank of Canada, or BoC, said central banks should have their own digital currency ready should regulators block Facebook’s Libra token. He also noted that such an asset is important as a possible solution for the economic realities of COVID-19. Lane spoke at an online panel discussion hosted by the Central Bank Payments Conference, stating that the Bank of Canada has been developing a central bank digital currency, or CBDC, at "a good pace." He said the bank would need to hold consultations regarding …

New procedures are being implemented as the world slowly begins to reopen amid the ongoing COVID-19 pandemic. While temperature checks and mandatory face masks have become the new normal, the world is also witnessing the rise of digital health apps, or “health passports.” Many of these applications serve as a solution to trace individuals’ whereabouts or to store COVID-19 test results, which can then be presented to officials during travel or gatherings to show proof-of-health. While innovative, privacy and regulatory concerns have been expressed with digital solutions designed to trace contact or store user data via smartphones. Blockchain ensures privacy …

Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books. Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG, which now has over $1 billion in assets under management. Economist: Fed must print $5 trillion in 2021 “The macro backdrop against the public health backdrop has caused a lot of people to rethink their portfolio composition,” the company’s new CEO, Robert Gutmann, told Forbes on Oct. 13. Michael Saylor, CEO of MicroStrategy, which purchased $425 million of …

A new application powered by the IBM blockchain aims to help people around the world return to physical encounters amid the coronavirus pandemic. IBM Watson Health, a healthcare-focused arm of tech giant IBM, is launching IBM Digital Health Pass, a blockchain-based app to support global organizations and companies as they start reopening after months of lockdown. IBM Watson stated that the new app can deploy multiple data types like COVID-19 test results and onsite temperature scans to generate a verified health status. With the opportunity to verify health status via the app, individuals can safely access public locations like a …