While people with experience in rural and agriculture will be recruited through newly set up micro finance vertical, appointments will take place in sales and call centres expanding credit card business.
The pattern setup is yet another sign of diminishing strength a breakdown below 10,200 from hereon would confirm the bearish reversal pattern commencement of the counter trend.
The Indus-Infratel merger has received foreign direct investment (FDI) approval and is slated to be completed by August 31.
Gayatri Projects | Godfrey Phillips | Techno Electric | Kalpataru Power | Marico | APL Apollo Tubes | Cupid | Laurus Labs | Emami Realty | JSPL | Uflex | Goa Carbon | Munjal Auto Industries are also in focus today.
Trends on SGX Nifty indicate a negative opening for the index in India with a 45 points loss.
¨Railways to expand to 350 local trains in Mumbai from tomorrow. As identified by State govt., essential staff incl. employees of Centre, IT, GST, Customs, Postal, Nationalised Banks, MBPT, Judiciary, Defence Raj Bhavan allowed. No services yet for general passengers," Goyal tweeted.
In a letter to Civil Aviation Secretary P S Kharola, West Bengal Chief Secretary Rajiva Sinha requested him to stop the movement of flights from eight cities to Kolkata or Bagdogra for two weeks starting July 6.
Chinese President Xi Jinping on Tuesday signed a controversial security law that gave Beijing new powers over Hong Kong that are tailor-made to crackdown against dissent, criminalising sedition and effectively curtailing protests, amidst global anger and outrage in the former British colony.
Expanded access to digital skills is an important step in accelerating economic recovery, especially for the people hardest hit by job losses, the company said in a blog post.
“With air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures,†the company said in a statement.It’s no secret that the crypto industry is rife with scams, hacks, and other nefarious activities, with the decentralized and private nature of many digital assets being conducive to these types of undertakings.
The latest group to fall victim to one of these scams is a school within the University of California system, who paid an online gang $1.14 million to gain access to files that were encrypted due to malware that spread throughout their computer system.
According to a recent report from BBC – who followed the conversation between the two parties thanks to an anonymous source – the Netwalker criminal gang extorted over $1 million in Bitcoin from the University of California, San Francisco (UCSF) earlier this month.
Shortly after the malware had infected the university’s computer system, the IT department was directed to a page on the dark web the resembled a standard customer service page.
Netwalker's website. Image courtesy of BBC News
They then engaged the criminals in a conversation on the site, who instructed that they pay $3 million in crypto to have access to their files and computers restored. Otherwise, they threatened, the files would all be wiped clean.
The University offered to pay $780,000, but the hackers claimed that this is not enough considering that the university makes “billions per year” and demanded they pay $1.5 million in crypto.
The university eventually offered a total of $1,140,895, which was accepted by the hackers.
The next day, 116.4 Bitcoin was transferred into the gang’s crypto wallets.
These actions run counter to recommendations from most law enforcement agencies across the globe, who argue against making contact or sending payment to any of these digital ransom rings.
Despite this, the university claims that it was imperative to send the crypto due to the locked files being valuable to “serving the public good.”
“The data that was encrypted is important to some of the academic work we pursue as a university serving the public good. We therefore made the difficult decision to pay some portion of the ransom, approximately $1.14 million, to the individuals behind the malware attack…”
Ransom schemes are becoming commonplace, and law enforcement officials remain ardent in their stance against victims sending Bitcoin or any other crypto to these criminals.
Jan Op Gen Oorth – a Europol agent – stated that paying the ransom just encourages more of it to take place.
“Victims should not pay the ransom, as this finances criminals and encourages them to continue their illegal activities.”
Because crypto-assets like Bitcoin can easily be sent through a “mixer” that makes it incredibly difficult to track, it is unlikely that victims who pay these organizations will ever be able to recover the stolen funds.
Featured image from Shutterstock.
Net debt stood at Rs 112,520 cr compared with Rs 103,310 crore in the previous quarter.
Coming off a drop of 20% in the first quarter, the biggest quarterly decline since the financial crisis in the fourth quarter of 2008, the S&P rallied more than 19.95% to notch its biggest quarterly gain since 1998, at the height of the tech boom.
The Dow Jones Industrial Average rose 217.08 points, or 0.85%, to 25,812.88, the SP 500 gained 47.05 points, or 1.54%, to 3,100.29 and the Nasdaq Composite added 184.61 points, or 1.87%, to 10,058.77.
Nifty was seen consolidating in the range of 10,200 to 10,400 with prices holding well above its 200-days exponential moving average on weekly charts.
Carlyle Group will make the investment in Bharti Airtel#39;s Nxtra Data at a valuation of $1.2 billion.
Prime Minister Narendra Modi this month officially launched the auction of 41 coal mines to companies including those in the private sector, with an annual production capacity that is nearly one third of national total output.
Brent crude rose 33 cents, or 0.8%, to $41.60 a barrel by 0044 GMT after declining more than 1% on Tuesday. U.S. crude was up 42 cents, or 1.1%, at $39.69 a barrel, having dropped by 1.1% in the previous session.
Petrobras, as Brazil#39;s state-controlled oil producer is known, has received at least two offers for the 323,000 barrels per day Landulpho Alves refinery in Bahia, known as Rlam. The other is from Abu Dhabi#39;s Mubadala Investment Company.
Stocks futures were mixed in early Asian trade with e-mini for the SP 500 down 0.19% while with Japan#39;s Nikkei 225 futures rose 0.2%.
Coronavirus India LIVE Updates: Total confirmed cases in India have risen to 5.66 lakh. India#39;s recovery rate now stands at 59.1 percent.Bitcoin’s ongoing bout of sideways trading has offered little insight into its mid-term outlook.
New data now shows that Bitcoin’s price action throughout 2020 has been driven by a significantly limited number of market participants, which may explain why the crypto has been ranging between $9,000 and $10,000 for over six weeks.
According to one analytics firm, only 27% of BTC’s circulating supply has moved in 2020. This means that the remaining 73% has remained dormant, with active traders utilizing margin, futures, and options likely being the source of all of its volatility.
This comes as data shows that the benchmark cryptocurrency’s fundamental health is starting to grow, potentially opening the gates for it to see further upside in the weeks and months ahead.
Bitcoin’s multi-week bout of consolidation has struck a blow to investor sentiment, leading many to forecast that the cryptocurrency will soon breakdown and start a new downtrend.
There are factors that support this notion, including the triple top at $10,500 that is currently in play, the consecutive rejections it has posted at $10,000, and the lower highs it has been establishing.
There is one indicator that shows Bitcoin has been incurring growing fundamental health throughout this consolidation period, suggesting that its next movement could favor buyers.
Glassnode’s Compass – an indicator made by the research firm – shows that the crypto has been slowly transitioning into bull territory over the past several months.
“For the fifth week in a row, the compass is in Regime 1, representing a bullish state for the market and for on-chain activity. GNI and bitcoin’s price trend both slipped slightly from the previous week, but still remain firmly in the green zone,” they explained while pointing to the graphic seen below.
They further go on to explain that Bitcoin’s stable position within the green zone is a good sign for its mid-term outlook.
“This continued stability, both on-chain and off-chain, is a good sign for BTC… While this bullish sentiment will not necessarily translate to immediate gains for the price of BTC, the long-term outlook is optimistic.”
According to other data from Glassnode, only 27% of Bitcoin’s circulating supply has been moved in 2020. The rest has remained dormant.
This means that the market is currently being driven by a small percentage of market participants, as likely only a fraction of this 27% is being moved as a result of active trading.
Rafael Schiltze-Kraft – the CTO of Glassnode – spoke about this in a recent tweet, saying:
“Only 27% of the circulating #Bitcoin supply has moved in 2020. That’s right, 73% of all bitcoins in existence (~13.5M $BTC) have been dormant since 2019 and before.”
Featured image from Shutterstock.
Weeks ago, NewsBTC reported that the market capitalization of leading crypto stablecoin Tether (USDT) was on track to $10 billion. This week, after a large minting of coins, the milestone was reached.
According to Messari analyst Ryan Watkins, the market capitalization of USDT passed 10 billion on June 30th. It is the third cryptocurrency currently in this 10-figure range.”
At the start of the year, the market capitalization of the asset was closer to $4.5 billion. And at the start of 2019, the figure was well under $3 billion.
Chart of USDT's market capitalization shared by Messari analyst Ryan Watkins, a former investment banker.
Some see USDT’s market cap growth as a sign of increasing interest in cryptocurrency.
Because USDT can be easily transacted into Bitcoin, Ethereum, and others, firms/large traders can theoretically mint the asset via Tether. After that, they can send the coins to exchanges to be traded for the asset.
Though, this goes the other way: Paolo Ardoino said in a podcast that during March, traders that couldn’t liquidate their coins into fiat opted for USDT instead. Ardonio is the CTO of Tether and Bitfinex.
USDT’s market capitalization may also be benefiting from growth in decentralized finance, specifically the Compound protocol.
Compound is an Ethereum-based money-market protocol that allows investors to borrow and make money by lending out cryptocurrencies. The platform supports assets from Ethereum and Basic Attention Token to stablecoins like DAI and USDT.
Due to a number of variables, USDT has quickly become one of the most popular coins on the platform.
At one time last week, Compound reported that there was more than $150 million worth of USDT deposited in the protocol.
This is but a fraction of the total supply cap. But the increase in demand for the stablecoin may have spurred investors enough to send money to Tether and receive USDT in return.
With USDT’s market capitalization surmounting $10 billion, its importance to this industry becomes even more pronounced.
Qiao Wang, an ex-Messari executive and analyst in the space, recently said the following:
“3 companies that, if something catastrophic happened to them today, would cause a tsunami in these markets: Silvergate, crypto banking; Tether, reserve currency of crypto; and Genesis, primary venue of liquidity for crypto loans.”
Its market capitalization may only be around 4-5% of the entire crypto market. Yet USDT accounts for a large portion of the volume and on-chain value, with more and more exchanges and other service providers adopting it.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Crypto "Reserve Currency," Tether (USDT) Hits $10 Billion Market Capitalization
Tesla is trying to avoid a quarterly loss despite its Fremont, California, factory being shut down for nearly two months due to coronavirus restrictions. The company also has a plant in China. Orient Refractories, Minda Industries, Central Bank of India, Bharti Airtel, Alphageo India are also in focus today.
The Sainor Life Sciences factory was immediately shut down as a precautionary measure after a gas leak was detected at 11.30 pm on June 29.
"A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities," Powell says in testimony he is scheduled to deliver on Tuesday in an appearance with Treasury Secretary Steven Mnuchin before the House Financial Services Committee.
Dilip Buildcon said it has raised Rs 200 crore through an issue of non-convertible debentures (NCDs) on a private placement basis.
Some of the ads charged fees for registering people to vote, while others sucked up people#39;s personal information for marketing purposes. The ads were discovered by the nonprofit tech watchdog Tech Transparency Project.
Trends on SGX Nifty indicate a positive opening for the index in India with a 62 points gain.
"Its his choice to wear a mask. It#39;s the personal choice of any individual as to whether to wear a mask or not," McEnany said, when asked about a new mandate to wear masks in Jacksonville, Florida, where part of the Republican nominating convention will be held.
The official manufacturing Purchasing Manager#39;s Index (PMI) rose to a three-month high of 50.9 in June from 50.6 in May, above the 50-point mark that separates growth from contraction on a monthly basis. Analysts had expected it to slow to 50.4.
The price tag is slightly below the range of $2,520 to $2,800 suggested last week by U.S. drug pricing research group the Institute for Clinical and Economic Review (ICER) after British researchers said they found that the cheap, widely available steroid dexamethasone significantly reduced mortality among severely ill COVID-19 patients.
The Dow Jones Industrial Average rose 580.25 points, or 2.32%, to 25,595.8, the SP 500 gained 44.19 points, or 1.47%, to 3,053.24 and the Nasdaq Composite added 116.93 points, or 1.2%, to 9,874.15.
Australian SP/ASX 200 futures rose 1.15% while Japan#39;s Nikkei 225 futures ticked up 0.11%. Hong Kong#39;s Hang Seng index futures climbed 0.62%.China’s state-sponsored Blockchain Service Network (BSN) is reportedly moving to start integrating with public blockchains like Ethereum and Nervos Network.
News of these potential integrations come just a week after news broke about the BSN utilizing Chainlink Oracles to increase the speed and security of transactions taking place on-chain.
This news seems to bode well for the blockchains and projects involved, and one venture capitalist believes that it will help advance the Chinese crypto sector – which has previously been strangled by regulations.
China’s BSN is a national blockchain that is backed by the country’s State Information Center, China Mobile, UnionPay, and others, although the country keeps most of the details regarding this initiative secret.
It now appears that the BSN is moving to integrate decentralized and public blockchains into their network, including Ethereum and Nervos.
According to Haseeb Qureshi – a managing partner at Dragonfly Capital – this integration has been confirmed by multiple sources and is a “big deal” for the blockchains involved.
“I’ve been informed by multiple sources that China’s BSN is going to be integrating with public blockchains, the first of which are [Ethereum] and [Nervos]. This is kind of a big deal,” he said.
While speaking about the state-sponsored Blockchain Service Network, Qureshi explained that it has been a topic of wide debate regarding how involved the Chinese government is, but that the integration of public blockchains like Ethereum is still significant.
“To what extent the government is involved in BSN has been a hot topic of debate, but including public blockchains is huge for the Chinese blockchain ecosystem. In case it’s not obvious: openly supporting public blockchains is kind of a taboo within China.”
Although this may help direct some further utility to Ethereum, it is unlikely that this will provide the crypto with any overt strength.
Nevertheless, from a macro perspective, this news does appear to be significant for the crypto industry as a whole.
Despite the Chinese government being somewhat distanced from the BSN, there is undoubtedly a strong connection between the two entities.
As such, the integration of decentralized and public blockchains could accelerate the adoption and acceptance of crypto within the country.
Qureshi mused this possibility, noting that the “blockchain, not Bitcoin” stance is simply a “gateway drug” that ultimately leads to the acceptance of decentralization.
“BSN’s push to open up with support for public blockchains will help China accelerate innovation within crypto. ‘Blockchain, not Bitcoin’ is the gateway drug. Embracing true decentralization is the inevitable next step.”
The broad-based S&P 500 gained 1.5 percent to 3,053.24, while the tech-rich Nasdaq Composite Index advanced 1.2 percent to 9,874.15. Major indices lost more than two percent on Friday as coronavirus case spikes in numerous southern and western states exacerbated worries the US economic recovery would be derailed. Nifty has been trading in the rising wedge pattern on the daily charts. The lower band of this wedge projects the strong support at 10,050-10,100 levels. Close below this support, would mean breakdown for the short to medium term in Nifty.
Vedantu was valued at $280 million in April, according to an Entrackr report. The Dow Jones Industrial Average rose 580.25 points, or 2.32%, to 25,595.8, the SP 500 gained 44.19 points, or 1.47%, to 3,053.24 and the Nasdaq Composite added 116.93 points, or 1.2%, to 9,874.15. Australian SP/ASX 200 futures rose 1.15% while Japan#39;s Nikkei 225 futures ticked up 0.11%. Hong Kong#39;s Hang Seng index futures climbed 0.62%.
Coronavirus India LIVE Updates: Total confirmed cases in India have risen to 5.48 lakh.
Kerala SSLC result 2020 LIVE Updates: More than 4.20 lakh students had registered for the Kerala board Class 10 examinations this year.
PM Modi#39;s address comes in the backdrop of government#39;s decision to ban 59 Chinese apps including Tiktok, Helo and UC Browser amid the strain in ties with BeijingEthereum has been woefully underperforming Bitcoin over the past few days, with the cryptocurrency’s USD pair fast approaching a crucial “last-ditch” support level could catalyze a massive downtrend – should it be broken below.
The weakness ETH has seen against both USD and BTC has come about despite it incurring massive fundamental growth.
The cryptocurrency has seen its daily transaction volume rocket to its 2017 highs, with the explosively popular DeFi trend directing massive user inflows to the ETH blockchain.
This has created a divergence between Ethereum’s technical and fundamental strength.
Analysts don’t believe that the fundamental growth seen in recent weeks will be enough to stop it from seeing further downside.
One analyst is now calling for a 20% decline against its Bitcoin trading pair.
This weakness could be compounded by a massive influx of tokens into exchange wallets, signaling that investors are prepared to offload their Ethereum holdings if it makes any big near-term movements.
At the time of writing, Ethereum is trading down roughly 1% at its current price of $224. This is around the price level at which it has been trading over the past day.
It has posted a similar loss against its Bitcoin trading pair, currently trading at 0.0245 BTC.
Its decline over the past couple of days has caused it to break firmly below the trading range that it has been caught within over the past several weeks.
This range exists between $230 and $250 on its USD trading pair, and the sustained decline beneath its lower boundary seems to indicate that it may be forming a mid-term downtrend.
Ethereum’s current weakness is also well-pronounced while looking towards its BTC trading pair.
One analyst recently put forth a chart showing that it may soon decline by over 20% due to its posting a rejection at the upper boundary of a triangle formation.
“ETHBTC: Feel free to remind me why my bearish bias on ETH over the last several weeks will be wrong?”
Image Courtesy of TraderXO. Chart via TradingView
One data analyst recently observed that cryptocurrency exchange Bitfinex had seen a massive rise in the amount of Ethereum on the platform.
This seems to indicate that traders are taking short-term positions on ETH, with a goal of exiting their positions should it push any higher in the near-term.
“So Bitfinex now holds nearly double the USD balance of $ETH vs. $BTC. Two completely opposite trends this year. $1B of bitcoin outflow.”
Image Courtesy of Ceteris Paribus.
Featured image from Shutterstock. Charts from TradingView.
While Bitcoin has seen its fair share of short-term volatility, on a macro scale the cryptocurrency is still consolidating.
The below chart from Blockroots founder Josh Rager, a crypto trader, displays this well. The chart shows that over the past ~seven weeks, BTC has been effectively trapped between $8,500 and $10,000. Each breakout has failed to lead to a follow-through.
Chart of BTC’s price action over recent months by Josh Rager (@Josh_rager on Twitter). Chart from Tradingview.com
Yet the consolidation is reaching a breaking point: volatility indicators show that any day now, Bitcoin will finally move out of the range. And considering the length and magnitude of this consolidation, it could be “huge.”
According to the analysts at Bitcoin Bravado, a crypto research group, a “huge” move in these markets is coming:
“BTC volatility is currently at historic lows as traders wait for a sign regarding where the next move is heading. […] Any time Bitcoin volatility gets this low, it usually means something huge is on the way. […] Suffice to say, the window for placing your bets is quickly narrowing.”
This is surely the case.
One trader shared the chart below late last week, showing Bitcoin’s price action since the start of 2019.
On the bottom of the chart is the Bollinger Bands Width indicator, which tracks the width of the bands. The Bollinger Bands is basically an advanced volatility indicator signaling important price points and when an asset is expected to move.
As can be seen, the width of the bands is reaching a level not seen since February of this year. That was just weeks prior to Bitcoin dropping by 60% in literally half a month.
Bitcoin price chart over the past one and a half years with volatility indicator (Bollinger Band Width). Chart from TradingView.com; shared by Byzantine General (@Byzgeneral on Twitter).
With Bitcoin primed to see a massive move, investors have begun to stack their chips to try to capitalize on the impending move.
According to CME futures data, institutions have been building a net short position throughout this consolidation.
One trader recently shared the image below, which shows that entities deemed “institutional traders” are cumulatively shorting 2,038 of the CME’s BTC futures contracts.
Bitcoin price chart with CME's Commitment of Traders report data. Chart from TradingView.com; made by Byzantine General (@Byzgeneral on Twitter).
This is notable as this group of traders has historically predicted downswings.
For instance, near the top of February’s rally, institutional traders started to build a Bitcoin short position via the CME. And prior to the launch of Bakkt, this group did the same.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com A "Huge" Bitcoin Move Is Imminent as Price Stalls in the Low-$9,000s
Singh also announced that inter-district bus service will be operational between July 1 and 15 maintaining all COVID-19 safety measures and no other public transport will ply during this period. The video appeared to have been taken at The Villages, a Florida retirement community, and showed duelling demonstrations between Trump supporters and opponents.
Coronavirus News LIVE Updates: Total confirmed cases in India have risen to 5.28 lakh. India#39;s recovery rate is now around 58.5 percent.
Motilal Oswal is bullish on Ashok Leyland recommended buy rating on the stock with a target price of Rs 65 in its research report dated June 26, 2020.
The halt on advertising will run through July and August, the report said. Sources described the move as a "global boycott" on placing Facebook ads, the report said.
