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#CryptoCorner: Bitcoin Yet to Recover, Blockchain Loans Explode Following Fed Rate Cut, TAAL (CSE: TAAL) Closes Asset Purchase Agreement for Cloud Computing and Huobi Launches Mobile App

 

Point Roberts, WA and Delta, BC - March 11, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/031120-CryptoMarket.mp3

#CryptoCorner: Bitcoin Yet to Recover, Blockchain Loans Explode Following Fed Rate Cut, TAAL (CSE: TAAL) Closes Asset Purchase Agreement for Cloud Computing and Huobi Launches Mobile App

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Stocks discussed: (CSE:TAAL)

Bitcoin (BTC) has more or less stopped its decline since we left off on Monday's Crypto Corner, but has also yet to recover in any significant way. It briefly reclaimed a trading price above $8,000 yesterday, peaking at about $8,130 according to data from CoinMarketCap, but has since slipped back down to a current trading price of $7,860. CoinDesk reports that in the wake of this recent downturn, Bitcoin is now trading up 9.3 percent from the year's opening, as opposed to the year-to-date gain of more than 45 percent it registered about a month ago. Nischal Shetty, founder and CEO of crypto exchange WazirX, told CoinDesk:

"There are 61 days to go for the bitcoin halving. Looking at past data, bitcoin prices have seen an uptrend after halving [events]. Also, more countries are coming with positive regulations on crypto. I'm optimistic that these factors combined will have a positive impact on bitcoin's price."

Following the United States Federal Reserve's emergency stimulus interest rate cut last week, blockchain lending firm Figure Technologies, Inc. has witnessed loan applications "soar by 300 percent," according to an announcement yesterday. Mike Cagney, co-founder and CEO of Figure, commented:

"The 300 percent increase in applications suggests consumers are eager to take advantage of unprecedented lower rates across mortgages, HELOCs and student loan refinancing. Consumers will benefit through lower debt costs and, for cash-out refi and HELOCs, more cash on hand. I believe this is the fastest a de novo fintech has exceeded $1 billion in funded loans. We couldn't have supported this type of growth and innovation - like the 5-minute HELOC - without the platform we built on Provenance. Look for even more innovative solutions tied to these lower rates in the near future.

TAAL Distributed Information Technologies, Inc. (CSE:TAAL) has closed on the asset purchase agreement with Tansley Equipment Limited, Fractical Sense Limited and Laser Lollypop Limited to acquire over 50,000 non-operational cloud computing units in the U.S. TAAL, according to the press release, aims to use this acquisition to support ongoing blockchain transaction processing operations. An excerpt from the press release reads:

The Cloud Computing Assets are expected to be utilized by TAAL to offer specialized services to enterprises that require large volumes of transactions processed in North America on an ongoing basis on a reliable blockchain (known as 'block building').

TAAL stock is down about 5.5 percent at press time, though it had experienced an increase after this news was released on Monday.

Singapore-based crypto exchange Huobi has announced the launch of a mobile app, Huobi Lite, that allows users to trade major cryptos such as Bitcoin without trading fees or commissions. Ciara Sun, VP of Global Business at Huobi, explained:

"Huobi Lite gives users a simpler way to trade crypto without sacrificing the trust, performance, and security they've come to expect from other Huobi products. The current process of buying and selling cryptocurrencies can be unnecessarily complex for the average person, so we're distilling the experience down to a few easy steps. By reducing the barrier to entry and catering to both beginners and veteran traders, we're vying for mainstream adoption across the globe, especially in underserved markets like Southeast Asia."

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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