Is S&P 500 the Bitcoin Oracle?
Forbes published an article today that compares bitcoin price movement to the price movements of S&P 500. The author believes that bitcoin price movements are similar to those of the US equities more than 6 years ago. Last January, bitcoin dropped down below $170 to lose almost 75% of its value in approximately 7 months. Forbes' author found many similarities between the bearish waves of the NASDAQ composite index in 2002 and the S&P 500 in 2009 with bitcoin price charts in 2015, as shown by the following graph: The NASDAQ composite printed a high of over 5000 on the 2nd of March to....
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Public oracle project, Bridge Oracle successfully completed the launch of its mainnet on Tron blockchain on Thursday. The mainnet launch aims to give Tron blockchain users access to implementing real-world decentralized applications, or DApps, by connecting them to off-chain data. Bridge Oracle, a Tron-based public oracle aiming to play a similar role to Chainlink on Ethereum, announced the launch of its mainnet on Thursday through email. Touted as the first-ever public oracle project on Tron’s […]
Bridge Oracle will soon be launching services on its mainnet that will permit users to implement real-world DApps on the Tron network with the help of Bridge Oracle. Bridge Oracle is pleased to announce the upcoming launch of its mainnet services. The mainnet will enable users to deploy real-world connected decentralized applications using Bridge Oracle […]
Bridge Oracle will soon be launching services on its mainnet that will permit users to implement real-world DApps on the Tron network with the help of Bridge Oracle. March 1, 2021 — Bridge Oracle is pleased to announce the upcoming launch of its mainnet services. The mainnet will enable users to deploy real-world connected decentralized applications using Bridge Oracle on the Tron network. The launch of a mainnet is always a landmark moment for any blockchain […]
Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%. Oracles Token Projects See Seven Day Gains Jump Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well. Following the NFT-related pump, a great number of oracle....
Lenders on decentralized finance (defi) protocol Compound on Thursday got liquidated for a massive $103 million, according to analytics provider Loanscan. This happened after what appears to be an oracle exploit on the Dai stablecoin. An apparent error or malicious attack to the Dai-dollar-peg data supplied by the Coinbase oracle pushed the price of the stablecoin to about $1.30 – a premium of 30% – leaving some users on Compound under-collateralized. Compound gets its pricing data from Coinbase Pro. Now, once this happened, and based on the built-in protocol rules, this could....