Crypto Exchange Huobi Global Set to List Whole Network's NODE Token

On Tuesday (September 3), Singapore-based crypto exchange Huobi Global ("Huobi") announced that it will be listing NODE token, which is the native token of blockchain startup Whole Network (the maker of blockchain phone "Acute Angle"); the NODE token sale will be launched on IEO platform Huobi Prime on September 11.

Huobi will allow holders of Huobi Token (HT) to buy the Acute Angle blockchain phone using HT.

 Acute Angle, which was developed in China and is currently available for sale there, will apparently be launched across Southeast Asia by the end of Q4 2019, and later on, there are plans to launch it in Europe and the U.S.

Huobi Global invested in Whole Network through Huobi Capital, its venture capital arm.

Livio Weng, the CEO of Huobi Global, had this to say:

We think blockchain phones are a promising area for future blockchain industry development. As the industry develops and as innovations like 5G become increasingly integrated into our telecommunications systems, we believe more and more crypto communities will want to trade and transact from mobile devices. Given this, the need for devices optimized for blockchain seems clear. This move is our first step to meet those user’s needs.

In a press release shared with CryptoGlobe, Huobi says that the Android-based Acute Angle, which costs $515, has "a wide range of features built with cryptocurrency traders in mind, including a programmable notification feature that alerts the user when certain market conditions are met, such as the price of a given coin rising or dropping."

Also, the phone "incorporates an innovative mining/task reward feature that airdrops NODE to users simply for using and interacting with the crypto community with their Acute Angle phone."

Furthermore, the Acute Angle "includes a built-in wallet app and an optional plug-in cold wallet; a wide range of pre-installed blockchain-related apps, including Huobi apps and crypto news apps; and a dedicated blockchain app store filled with a wide range of related apps and DApps."

The Whole Network Acute Angle phone will be available from Huobi Global’s website "during a special sale between September 10 and 11."

Here are some of the technical specifications of the Acute Angle phone:

  • Operating System: Android 9.0
  • CPU: Octa-core 64-bit 2.1GHz
  • GPU: Arm Mali-G72 MP3
  • RAM: 6GB
  • Internal Storage: 128GB 
  • External Storage: Support for microSD (up to 256GB)
  • Screen: 6.7-inch 19:9 FHD (1080 x 2280 pixels)
  • Battery: 3900mAh

Featured Image Courtesy of Whole Network

Bitcoin Price Surges Above $9,300 for First Time Since June 25

On Monday (July 6), the Bitcoin price managed to surge past the $9,300 level for the first since June 25, a move that was likely powered by the current bullish in the stock markets of China and the United States.

Today's strong rally in the world's major stock markets started was led by China, where the Chinese government is apparently encouraging investors to buy stocks.

According to a report by CNBC, "a front page editorial in state-owned China Securities Journal" (publishe-d earlier today) talked about the “wealth effect of the capital markets” and suggested that a “healthy bull market" was important for the economy at this time.

Peter Boockvar, chief investment strategist at Bleakley Advisory Group, says:

"We have the Fed to juice bull markets, China has its state media."

The CSI 300, which is "a capitalization-weighted stock market index designed to replicate the performance of the top 300 stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange", closed over 250 points higher at 4,670.09, up 5.67%. 

CSI 300 Chart by Google Finance on 6 July 2020.png

As you can see in the above chart from Google Finance, in the past five trading session, the CSI 300 index has gained over 13%, the most in a five-day period since December 2014, and helping the CSI 300 to reach a level last seen in June 2015.

CNBC says that although "China’s economy faces many hurdles, including trade issues with the U.S. and the growing friction as the economies move to decouple",  in the near term, "the prospect of an improving China spilled over to other markets, boosting sentiment for global trade."

Europe's major stock markets followed China's and all closed higher.

As for the U.S. stock market, premarket trading data indicated that the market would be having a good day, and it has not been wrong so far.

Currently (as of 18:37 UTC on July 6), the Dow Jones Industrial Average (DJIA), the S&P 500, and the Nasdaq are at 26196.15 (up 368.79 or 1.43%), 3172.03 (up 42.02 or 1.34%), and 10404.81 (up 197.18 or .93%) respectively. The leading sector was (as usual) technology, with Amazon and Netflix setting new all-time highs, helping the tech-heavy Nasdaq to power itself to a new all-time high.

This is what President Trump tweeted around 10 minutes after the U.S. stock market opened:

Today's stock market rally in the U.S. means that the S&P 500 and the Nasdaq are both on a five-day winning streak. 

So, what's fuelling investors' perhaps surprising amount of bullishness on stocks in the midst of the COVID-19 pandemic? This might be especially mystifying in the case of the U.S., where we are seeing around 50,000 new daily cases of COVID-19 (even though, thankfully, the number of death are going down).

It seems that investors and traders believe that:

  • As lockdown measures are eased, the outlook for businesses should keep improving.
  • There are encouraging signs from the pharmaceutical industry that we will soon have good therapeutics in the next few months and reliable vaccines by next year.
  • Governments around the world will continue to support the financial markets with monetary and fiscal stimulus.

Andrew Brenner of National Alliance told CNBC:

"I’m starting to believe the Covid case are an inverse indicator. The worse it gets, the more the market does better because it means more Fed and fiscal stimulus will come towards the markets."

The optimism that is fuelling the stock market rally appears to be also helping Bitcoin since today Bitcoin shake off the lethary of the long Independence Day weekend -- which saw Bitcoin dropping below $9,000 at 21:15 UTC on Sunday (July 5) and bounce back above $9,300 for the first time in 11 days:

2 Week BTC-USD chart on 6 July 2020.png

Featured Image by "WorldSpectrum" via Pixabay.comSave