Seen As Green, Hedera Hashgraph Rallies
The corporate giants-backed, energy-efficient decentralized supply chain network called Hedera Hashgraph utilizes directed acyclic graphs to create an asynchronous Byzantine Fault-Tolerant consensus algorithm. And also it has a native token, HBAR, dubbed "green" by environmentally conscious investors.
Oh, it's green. On a morning when crypto markets are being chilled by howling regulatory winds, HBAR rose 9% over 24 hours as of Friday morning at 7:45 a.m. (EST).
At $0.18, HBAR, the 53rd-largest crypto in terms of total market capitalization, remains 59% off its all-time high of $0.44 reached in mid-March.
With the climate for green cryptos heating, InvestorPlace has said, more investors are interested in HBAR.
WHAT'S DOWN
Bitcoin Embattled
With the largest crypto exchange under siege by regulators around the world, and with selling pressure on that exchange building, the outlook for Bitcoin on Friday morning was bleak. Nearly $500 million worth of BTC were moved to Binance and other exchanges for sale.
In one hour.
Co-founder and CEO of CryptoQuant, Ki Young Ju, has taken to his Twitter page to say Bitcoin selling pressure seems to be high. BTC is heading for its lowest weekly close in more than a month as selling pressure continues to drive prices toward $30,000 (CoinDesk). By about 8:30 a.m. (EST), BTC had fallen all the way to ... $31,200?
Well, that certainly is not $32,600, a level BTC struck on Thursday prior to slipping alongside stocks. But it’s hardly a sell off. And definitely not sub-$30K, at least not yet.
WHAT'S NEXT
Dorsey Reveals True Passion
After telling the Miami love-in that if he weren't busy chiefly executing and officiating on behalf of Square and Twitter, he'd be focusing full-time on Bitcoin – Jack Dorsey just announced plans for a new "non-custodial, permissionless, and decentralized financial services" platform.
Focused on Bitcoin.
TANGENTS
Tokyo Games To Feature Obstacle Course: Finding A Bar That Takes Crypto
As it prepares for the Games of the XXXII Olympiad, Japan is hosting an alarming surge in Covid-19 cases, resulting in a ban on spectators.
Earlier this week, Tokyo reported more than 1,100 infections, the highest number since late January.
The opening ceremony is Friday, July 23. About 11,000 Olympic and 4,400 Paralympic athletes are arriving from 200 countries. Foreign fans, sponsors, dignitaries and miscellaneous other VIPs/hangers-on are not being allowed into Japan but there will be some 41,000 coaches, judges and other officials coming along.
For the wrestling match time-keeper with some extra time, and looking for a cozy bar to kick back with a Sapporo, maybe watch a little fencing – well, good luck: operational limits on bars and restaurants are being imposed; plus, if you do find a spot, make sure you have actual coins.
Despite the rise of digital money and a relentless pandemic that has left people wary of touching things that lots of other people have touched, Japan, nevertheless, remains a predominantly cash-based society. And Japanese regulators seem to want to keep it that way.
Back when visitors were expected, the Japanese retailers' hub Zen Market compiled a handy list of some crypto-friendly establishments (there were only a handful), pointing out that while Japan does treat Bitcoin as a legal "asset" – technically BTC is not considered "legal tender."