Parabolic rally ‘a real possibility’ after Ethereum price surges to $547

The price of Ether (ETH), the native cryptocurrency of Ethereum, has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term. In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018. As such, $600 could act as an area of interest for sellers. But, traders also believe that if Ether surpasses $600, it would likely enter the $700 to $900 range. Above it, there is little…

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IBM executive says blockchain becoming a useful ‘real business tool’

It was just a few years ago that enterprises began showing interest in using blockchain as a technology to bring trust, transparency and better collaboration to multiple entities sharing sensitive business data. Yet as the blockchain space has matured, more companies have started to view blockchain less as a technology and more as an important business tool for digitalization.  IBM Blockchain’s general manager, Alistair Rennie, noticed this evolution earlier this year. Cointelegraph had the pleasure of speaking with Rennie to learn more about the evolving enterprise blockchain landscape, how blockchain…

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Blockchain-secured land entices real estate investors

In the “real” world, real estate has historically been seen as a viable investment. Individuals and corporations usually purchase land and property either for development or to sell at a higher price in the future. With the world becoming increasingly digitized, it appears that the trend of ascribing significant value to land and property has been spreading to the virtual scene. At the intersection of emerging tech like virtual reality and blockchain, developers, investors and hobbyists alike are creating a vibrant virtual real estate market. While VR provides the tools…

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$1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed’s Mortgage Purchases

The U.S. real estate market is facing a conundrum, as there’s now a tidal wave of renters who can’t pay rent and a massive number of mortgage defaults stacking up like never before. Amid the looming real estate chaos, the Centers for Disease Control and Prevention (CDC) enacted public health emergency powers to stop landlords nationwide from evicting tenants. Moreover, the Federal Reserve has purchased $1 trillion in mortgage bonds since March, capturing 30% of the country’s outstanding mortgage bonds. US Housing Market Strained, Rents Slide 30%, Foreign Real Estate…

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Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin (BTC). According to a June 15 announcement, Antalya Homes claims to have recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey. Per the company, the coronavirus pandemic forced the real estate industry to innovate. More precisely, Antalya Homes reacted by offering virtual home tours and adding support for Bitcoin on its website. The firm’s chairman Bayram Tekce explained: “In the sale of…

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Ethereum Layer-Two Solutions Lack Real World Usability, Says Skale CTO

Cointelegraph spoke with Konstantin Kladko, the CTO of the Skale Network, a blockchain platform based on Ethereum (ETH). Kladko holds a PhD in Physics from the Max Planck Institute and a Masters in Computer Science from Stanford. Over the course of a long career that includes the Los Alamos National Laboratory and Sun Microsystems, he also contributed to the making of Java. While Kladko is undeniably an Ethereum fan and believer — referring to it as “an unstoppable bulldozer” — he often goes against popular community narratives, especially regarding “layer-two”…

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US Real Estate Crisis: Home Sales Plunge to 9-Year Low, Mortgage Delinquencies to Soar Past Great Recession Level

The US real estate market is facing a crisis as unemployment soars amid the coronavirus pandemic. Home sales have plunged to a nine-year low and a record-high number of homeowners are defaulting on their mortgage payments. The impact of the real estate crisis is also seen in rental and commercial real estate markets. Massive Declines in Home Sales, Housing Starts The economic crisis, coronavirus pandemic, lockdowns, and record-high unemployment have severely affected the real estate market. Existing home sales, which make up about 90% of all U.S. home sales, plunged…

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Largest Private Investment Bank in Latin America Issues Real Estate Tokens on Tezos

Banco BTG Pactual is issuing its security tokens representing investment in real estate on the Tezos (XTZ) blockchain.  Previously, the bank had issued its ReitBZ tokens on the Ethereum blockchain, raising $10 million in Ether (ETH) and Gemini Dollars (GUSD).  Which blockchain will prevail in the future? Andre Portilho, head of digital assets at BTG Pactual, told Cointelegraph that $5 million worth of ReitBZ will be switched to Tezos, including the $2.5 million new raise that was conducted in fiat. The reason behind this diversification is that the bank wants…

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‘Risky’ Tokenized Real Estate Platform Hits New Heights After Paypal Ban

U.S. tokenized real estate platform RealT hit record highs in sales and new users after it turned to crypto-only transactions, following a ban by payments platform Paypal in April. The Ethereum-based startup tokenizes and sells U.S. property, allowing users around the world to share in property ownership for as little as $50. According to RealT’s Twitter account, 62% of purchases on their platform were made via Paypal prior to the ban. Over the course of a year, there were more than $800,000 Paypal transactions, with only four disputes raised by…

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US Real Estate Market Shudders: Experts Predict 40% Lower Sales, March Contracts Dip by 21%

According to the National Association of Realtors, pending contracts for property sales dropped by 20.8% in March. Further, the 30-year fixed mortgage interest rate dropped to 3.43%, but a great majority of people are still not interested in buying or renting homes at the moment. Economists predict that home sales could shudder in the next three months losing as much as 40% of activity. Data also shows that indebted Airbnb ‘Superhosts’ are losing their shirts, as the company lost $1.5 billion in bookings since mid-March. March Numbers Are In –…

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