Maker MKR

$717.33
Market Cap $ 717.326 MM (#16)
24h Volume $ 3.892 MM
Chg. 24h: 1.76%
Algo. score 3.6/5  (#151)
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Maker News

Charting the State of DeFi: Is Maker too big to fail?

Summary While the Ethereum community has largely embraced Decentralized Finance (DeFi), volumes — and in turn product fit — have been captured early on by lending use-cases. Within non-custodial lending protocols, it’s hard not to acknowledge the predominant presence Maker has in terms of borrowing volumes, ETH posted as collateral, and even the growth in outstanding DAI value relative to other stablecoins: A majority of ETH “locked” within DeFi resides in Maker (97%, or $305m). YTD the quantity of ETH locked within Maker has grown by 18%. Over $342 million is locked into DeFi, with Maker taking close to 90% of those volumes at ~$305m. Join Genesis now and continue reading, Charting the State of DeFi: Is Maker too big to fail?!

16 hours ago

BitMax.io (BTMX.com) Announces Primary Listing Partnership with BOLT

BitMax.io (BTMX.com), the industry-leading next-generation digital asset exchange, has announced a strategic partnership with BOLT, a company whose vision is to be the largest mobile wallet in the world, powered by content. BitMax.io will primarily list BOLT (BOLT) under the trading pairs of BOLT/BTC and BOLT/USDT. Trading will start at 9:00 a.m. EDT on Mar 26th, 2019. What is BOLT? BOLT’s vision is to be the largest mobile wallet in the world, powered by content. Built on Zilliqa, the fastest Blockchain platform, its mission is to democratize the chain between content producers and users. BOLT has focused their efforts in building token utility partnerships, including hardware manufacturers like Hisense in South Africa (over 6M active devices), partnering with International Cricket Council to broadcast the Cricket World Cup in June 2019, exchanging tokens for mobile data plans with Digi (part of Telenor, with over 11.8M subscribers) in Malaysia, and having an ecosystem of telco network operators around Asia and Africa with a user base of almost 80M users. The BOLT ecosystem is democratic, enabling secure, direct access between consumers and content producers. Everyone is welcome to participate. On BOLT+, our video streaming service, those who create content can earn tokens from those who view the content. Those who help the community by voting on content can earn tokens as well as those who translate content into another language. Eventually, we will also allow users to trade BOLT tokens for discounted mobile data plan top ups either through direct redemption or bidding on the BOLT Marketplace. Gluing the whole ecosystem together is the BOLT Wallet, which will be released at the end of Q2 2019. BOLT users will be able to use the BOLT Wallet to top up BOLT Token balances (via telco redemption or external wallet address), send BOLT Tokens to other users, trade BOLT Tokens for access to other parts of the BOLT ecosystem. This access includes the BOLT Marketplace and access to premium content on BOLT+ (interactive video app). Loyal advocates of BOLT are rewarded through user referral programs, or with exclusive access to premium programming that is first to air. The advantages BOLT offers Key takeaways: - BOLT has existing Partnerships with hardware manufacturers, telco networks and premium content partners. BOLT has 2 main products - “BOLT+”, a video streaming service, and the BOLT Wallet. The vision is to be the largest mobile wallet in the world, powered by content, and to bring the benefits of the blockchain (security, democratization, and access) to a mass audience. - BOLT will launch a blockchain ready wallet, “BOLT Wallet” for mass adoption by Cricket World Cup 2019, a global event which will be watched by millions. - BOLT has integrated with blockchain ecosystem partners such as Zilliqa, Bitmax.io, and Switcheo for purposes of the permissionless blockchain, token trading and token to telco mobile data marketplace infrastructure respectively. - BOLT’s upcoming global sports events on the radar for 2019 to be enabled by the blockchain includes the Rugby World Cup in November 2019. - BOLT has an all-star team hailing from Facebook, Twitter, Coca Cola, Samsung and more. Present access to entertainment involves too many middlemen. Mark-ups are excessive leading to higher costs for end-users and content partners don’t have much incentive. Existing social media and video content platforms have high bandwidth consumption that makes them expensive and ineffective in the developing world. Mobile network infrastructure cannot support 4G and 5G. A centralized business model that collects data and sells it to advertisers is becoming increasingly unattractive. Such business models are also unable to mobilize the community to self-sensor and to moderate to community-determined standards. BOLT will offer bandwidth friendly, interactive content accessible on mobile devices. It will give emerging markets access to informational, uplifting and localized content. The BOLT team BOLT is run by a proven network of digital strategists, venture builders and media veterans from some of the biggest companies in the world including Facebook, Coca-Cola, PayPal, Samsung, and Twitter. The team all has one thing in common - the desire to build a meaningful, global movement for the underserved. Jamal Hassim is the Founder and CEO of BOLT. He is a seasoned broadcast, media and technology entrepreneur. Prior to founding BOLT, he held key management positions in NTV7, 8TV, and the TV3 group. Before this, he was the Chief Operating Officer of SPH Mediaworks in Singapore. Christel Quek is the Co-Founder and Chief Commercial Officer of BOLT. As a technology executive, she has built brands and digital businesses since the advent of the digital economy. She is also an Advisor to Zilliqa, a next-generation high throughput blockchain platform. Previously, Christel was Head of Content at Twitter across International Markets and led Social Bu

16 hours ago

5 Altcoins Surge Above the Crypto Pack – Bitcoin, Ethereum, XRP Price Analysis

So far this year, five cryptocurrencies are stand-outs among the top 50 coins by market cap. • EOS +42%, from $2.62 to $3.74 • Maker +58%, from $448.26 to $710.03 • Litecoin +96%, from $30.87 to $60.58 • Ontology +133%, from $0.59 to $1.38 • Binance Coin +151%, from $6.07 to $15.25 Right now the […]

a day ago

Join The Information’s Q1 2019 Crypto Conference Call

What’s next in crypto? What will 2019 have in store for exchanges and other crypto companies hit by last year’s price crash? Global Coin Research is delighted to offer our premium member access to The Information Q1 2019 Crypto Conference Call. Not a premium member? Join our 3 months trial for $30 and get access to our all conference calls, resources and analyses. Join The Information crypto reporter Jon Victor and Asia bureau chief Shai Oster for their Q1 2019 Crypto Conference Call to learn what’s going on behind the scenes during this crypto winter. We’ll be joined by Arthur Hayes, co-founder & CEO of BitMEX, to gain insight into what happened last year and what could be unfolding in the future.S Details WhenTuesday, March 19, 2019 6:00 pm PT — 7:00 pm PT HowDial-in details will be emailed to all subscribers who RSVP approximately 1 hour prior to the call. Selected topics for this call include: How will institutional crypto trading products from Fidelity and the New York Stock Exchange compete with those by existing startups?What effect will new cryptocurrencies by Facebook and JPMorgan have on the market?How have BitMEX and other crypto companies weathered the downturn in prices?How have trading volumes been affected?Could BitMEX follow other big exchanges Coinbase and Circle and look to raise capital? BitMEX is a cryptocurrency trading platform that gives retail investors access to the globalfinancial markets using cryptocurrency products. BitMEX operates the most liquid Bitcoin/USD trading product, XBTUSD, which features 100x leverage, and volumes on average are over $3 billion per day. Arthur Hayes obtained his BA in economics at the Wharton School of Business at the University of Pennsylvania in 2008. Subsequently, he moved to Hong Kong where worked as an equity derivatives trader for Deutsche Bank and Citigroup for five years. Arthur was the head ETF market maker at both firms. In January 2014, he founded BitMEX.

2 days ago

Global Coin Research Editor-in-Chief Joyce Yang and Chao Pan, head of China at MakerDao, are talking about Maker in China

Chao Pan is Head of China for MakerDao, leading Maker’s China communities and research efforts. China is a big market and Chao is responsible for onboarding China for Maker. He manages large MakerDao groups on WeChat and speaks to institutional and high power Maker users in China frequently. In our call, I will ask Chao the trends on stablecoins in China, the pace of blockchain development there, and how Maker is received in China. What questions do you have for Chao?? Details of the callDate: Next Wednesday, March 27th, 2019Time: 5pm PT - 5:45pm PT / 8:00pm ET - 8:45pm ETLocation: Conference CallHost: Joyce Yang, Founder of GCR and Chao Pan, Head of China for MakerFormat: Joyce and Chao will kick it off with Chao talking about the set up of Maker in China and the broader APAC region, and we will also discuss the sentiment for Maker in China and cover Maker’s vision and roadmap for China. We’ll then open up for questions from the audience. How: Become a premium subscriber and join our call. For a limited time, we are offering a3 month for $30 trial for those who join our premium plan.As a member, you’ll get immediate access to this conference call. You’ll also get access to all the Global Coin Research resources and analyses including future conference calls and the most important crypto information about Asia delivered to your inbox.

2 days ago

Where’s Ethereum 2.0 At? Vitalik Buterin Gives A Much-Needed Update

Somehow, some way, a group of crypto crusaders managed to convinced Vitalik Buterin to grace the world’s first Ethereum Supermeetup, hosted at Token2049, with his presence. Justin Sun, the founder of rival blockchain Tron, may have been standing in the back of his room with a smirk on his face and a man-turned-avocado, but the Ethereum founder took to the stage anyway. What followed was twenty minutes of an unadulterated topical overview of his brainchild’s latest happenings. The crowd of 1,500-strong was more than pleased, that’s for sure. Ethereum 2.0 Status Update Phones in the air, the crowd hollered as the twenty-something Vitalik Buterin sauntered onto the stage of Asia’s premier crypto event. Meek but recognizable, the Russian-Canadian long-time crypto jock uttered a drawn-out “heyyy”, eliciting a mere whoop or two from the crowd of 1000 or so. While the start of his presentation had some outright confused, everyone was enthralled with what came next. For those who missed the memo, since Ethereum launched in mid-2015, its core developers have had lofty ambitions. Buterin and co.’s plans have changed over the years, but alternative consensus mechanisms like Proof of Stake (PoS) and scaling solutions, such as the fabled Plasma and sharding protocols, have long been floated. The developers’ goal is to integrate all these improvements in an upgrade known as 2.0 (Serenity). But, the blockchain’s path to activate staking over its incumbent mining solution, a move claimed to reduce Ethereum’s energy requirements, improve decentralization, and bolster transactional throughput, hasn’t been entirely clear. The hope was that by Q3 or Q4 of 2018 — yes, last year — PoS would have seen some semblance of integration on the main chain. As the cryptocurrency community now knows, this hasn’t come to fruition. In fact, the project’s timeline has seemingly been pushed by upwards of six months to a year. On stage, however, Buterin kept his head high. He first explained that Serenity could simply be explained as “a way to bring technical improvements, like PoS and sharding, together to improve the Virtual Machine, Merkle Trees, the efficiency of the protocol, and a whole bunch of small technical things that you have never heard of.” Per the industry insider, this is all being done in a bid to create a “next-generation blockchain” to be hundreds of times faster and scalable than Ethereum’s current iteration. As it stands, Ethereum has yet to even enter phase zero (there’s a total of three phases — zero, one, and two) of the Serenity integration, but Buterin explains that this is coming. He remarks that phase zero is near-finalization spec-wise, touching on an effectively complete section of a whitepaper that outlines 2.0. Buterin explains that phase zero-related testnets, which are centered primarily around staking, could get launched by developments firms, which he calls “implementers,” like Parity and others, in the near future. In terms of sharding, meant to arrive in phase one and phase two, Buterin explains that developers have begun “early-stage implementations of that,” with there being some staking protocols becoming “standardized” in the testing ecosystem. He goes on to draw attention to Ethereum 1.x, which can be described as an intermediate series of protocols between 1.0 (current state) and Serenity. 1.x, as Buterin states, is focused on providing short-term scaling solutions through the implementation of prototypes of Serenity’s improvements and by bolstering the Virtual Machine as is. This should help to bring 1.0 and 2.0 closer over time, eventually giving Ethereum’s core team an easy way to easily segue into full-on staking, sharding, and the like. Currently, the builders behind 1.x are looking into stateless clients, which would allow nodes on Ethereum to store much less data, and at Web Assembly (WASM), which will bolster the speed of smart contract execution. And with that, he made the following conclusion about the technical state of the second most valuable cryptocurrency: “For all the scalability issues, efficiency issues that people have, there are generally multiple efforts that are flying under the radar to improve that.” The cryptocurrency entrepreneur then took a few minutes to touch on Ethereum’s layer two, which has been overshadowed by the monumental growth of Bitcoin’s Lightning Network as of late. From plasma to state channel frameworks, all focused on bolstering the network’s potency as a multi-purpose platform, these layer two protocols have seen prototypes recently launched and advancements made. Buterin put the state of layer two best when he stated, “The tech is finally at that stage where people can just use it.” ZK-SNARKS, a privacy and scaling advancement utilized by ZCash, was also mentioned by Buterin, who claimed that “it’s coming.” In an interview following Buterin’s keynote, Tron’s Sun and a silent avocado explained to NewsBTC that he doesn’t expect for Ethereum to be ready

2 days ago

New Dether App Feature Allows Individuals to Buy and Sell ERC20 Tokens for Cash in 140 Countries

With a new feature from peer-to-peer cash-to-crypto app Dether, individuals can buy DAI, BNB, MKR, REP, and a variety of other ERC20 tokens with cash, or sell ERC20 tokens without holding any token liquidity in their Dether wallet. GIBRALTAR, Gibraltar—March 19, 2019- Dether, a decentralized OTC network of crypto buyers and sellers, has launched a new app feature that allows individuals to buy and sell ERC20 tokens for cash, without needing to hold liquidity of that token. The Dether protocol handles the swap using Kyber Network’s on-chain liquidity. Starting today, Dether users can experience this new feature, designed to create The post New Dether App Feature Allows Individuals to Buy and Sell ERC20 Tokens for Cash in 140 Countries appeared first on CCN

2 days ago

Nvidia Sticks to Bullish Outlook for Fiscal 2020

Nvidia, the largest maker of semiconductors in the world, said that they maintained its optimistic forecast for fiscal 2020. Colette Kress, Chief Financial Officer of Nvidia, said that Nvidia is still working through the stockpile of unsold parts, but remains confident it’s on track to complete that effort as previously predicted. The company was reportedly hurt badly when they have built up its inventory in anticipation of cryptocurrency mining demand in 2018. Plus, the resulting excess inventory has been compounded by weaker demand from consumers and data-center operators. (RL)

2 days ago

Maker (MKR) Foundation Proposes Another Possible Increase to DAI Interest Rates

The Maker Foundation has released a poll surveying how members of the community feel about raising the DAI interest rates another 2 to 4% or if they should stay where they are at. The Maker stability fee was raised to 3.5% on March 9th, meaning there could potentially be another increase in a relatively short time span. The governance poll will remain active from Monday, March 18 at 6 p.m. UTC, after which MKR token holders can use the poll results to support or reject rate changes during an executive vote that will open on Friday, March 22. (JF)

3 days ago

Publicly Traded Company 'Ether Capital' Invests $1 Million in Maker (MKR)

Ether Capital, a Toronto-based public technology company that focuses on the Ethereum ecosystem, recently announced that it has invested $1 million in Maker (MKR), the governance token of the MakerDao project. According to their thesis, “Maker represents a key piece of infrastructure that we expect will drive mainstream growth and adoption. Maker and Dai fit perfectly within our Web 3 thesis and have achieved substantial developer mindshare within the ecosystem.” In total, Ether Capital purchased 2,300 MKR tokens from the Maker Foundation in exchange for 7,374 Ether. (JF)

4 days ago

itBit the first exchange to bring maker rebates to all BTC and ETH trading

The exchange price war continued Thursday, as Paxos’ itBit announced users will receive maker rebates of 3 bps on all bitcoin trades with immediate effect.

7 days ago

itBit to bring maker rebates to all BTC and ETH trading

The exchange price war continued Thursday, as Paxos’ itBit announced users will receive maker rebates of 3 bps on all bitcoin trades with immediate effect.

7 days ago

Court Rules Quoine Exchange Liable for Reversing Bitcoin Trades Worth Millions

A Singapore court has ruled crypto exchange Quoine liable for reversing trades for a total of 3,092 bitcoin by market maker B2C2.

8 days ago

itBit announces new maker rebates for all bitcoin (BTC) trades

CryptoNinjas New York licensed bitcoin exchange itBit has announced that starting on Thursday, March 14, itBit users will start receiving maker rebates of 3 bps on all bitcoin trades. This means that traders can earn incentives when orders they have added to the order... itBit announces new maker rebates for all bitcoin (BTC) trades

8 days ago

Crypto Facilities Announces Changes To Its Fees And Revenue Share Program

Crypto Facilities, the cryptocurrency derivatives exchange that was recently acquired by Kraken has announced some significant changes to its platform. From March 22, the trading fee across all contracts would be 0.02% for the maker and 0.075% for the taker. Also, the contract tick size for XBT:USD changes from $1 to $0.50, while $0.10 to $0.05 for ETH:USD. Crypto Facilities' Revenue Share Program (RSP) will continue beyond the first 10 weeks. It will come with a fixed weekly payout that will align more closely to the trading volumes. (VS)

9 days ago

4 Cryptocurrencies Break Free Of Bitcoin And Trade Above Their MAs

Bitcoin's price has been stuck around $3,900 for a week now. However, 4 cryptocurrencies among the top 20 have managed to break free of Bitcoin and trade above their 200-day Moving Average (MA). Litecoin (LTC), binance coin (BNB), Tron (TRX) and Maker (MKR) are currently trading above their 200-day MA against both Bitcoin and USD. These four cryptocurrencies have been extremely bullish and continue to remain so. Meanwhile, Ethereum (ETH), XRP, EOS, and Cardano (ADA) are trading above their 200-day MA only against BTC. Bitcoin (BTC) is priced at $3,909.89, gaining 0.79% in the last 24 hours. (VS)

9 days ago

Gibraltar Blockchain Exchange Adds 5 New Stablecoins

Gibraltar Stock Exchange (GBX) has announced the addition of five new stablecoins on its platform. GBX is an institutional-grade, regulated and insured crypto exchange by the country's Gibraltar Stock Exchange. The stablecoins Paxos (PAX), Maker (DAI), TrustToken (Token), USD Coin (USDC), and Gemini Dollar (GUSD) will be available for trading from tomorrow. All of these coins are pegged to the US Dollar. Nick Cowan, the Managing Director and Founder of GBX said, "Adding five stablecoins is a landmark statement of intent for GBX." Stablecoins provide an easy way for investors to avoid volatility during turbulent times. They’re also often used by merchants for transactions. (VS)

10 days ago

GBX-DAX listing stablecoins PAX, DAI, TUSD, USDC, and GUSD

CryptoNinjas The Gibraltar Blockchain Exchange (GBX), an institutional-grade, regulated and insured token sale platform and digital asset exchange, has announced the addition of five stablecoins to its Digital Asset Exchange (GBX-DAX). Paxos (PAX), Maker (DAI), TrustToken (TUSD), USD Coin (USDC), and Gemini dollar (GUSD)... GBX-DAX listing stablecoins PAX, DAI, TUSD, USDC, and...

10 days ago

Bitcoin Mining Firm Canaan Raises Funds in ‘Hundred Million Dollars’

Canaan Creative, the maker of Avalon miners has raised hundred million U.S. dollars in a new funding round, which values the firm at over $1 billion.

10 days ago

Crypto Miner Maker Canaan Raises Funds in ‘Several Hundred Million Dollars’

Canaan Creative, the maker of Avalon miners has raised hundred million U.S. dollars in a new funding round, which values the firm at over $1 billion.

10 days ago

Avalon Miner Maker Raises Funds in ‘Several Hundred Million Dollars’

Canaan Creative, the maker of Avalon miners has raised hundred million U.S. dollars in a new funding round, which values the firm at over $1 billion.

10 days ago

Avalon Miner Maker Canaan Raises ‘Hundreds of Millions’ in Funding

Canaan Creative, the maker of Avalon miners, has raised significant funding valuing the firm at over $1 billion, according to a report.

10 days ago

Avalon Miner Maker Canaan Raises ‘Hundreds of Millions’ in New Funding

Canaan Creative, the maker of Avalon miners, has closed a significant funding round, valuing the firm at over $1 billion, according to a report.

10 days ago

GSR Markets Sue Lawyer Accused of Pocketing $2 Million Worth of Bitcoin During OTC Transaction

GSR Markets, a market making, and over-the-counter trading firm is suing lawyer Diana McDonald for allegedly stealing $2 million from a $4 million Bitcoin transaction. McDonald was acting as an escrow during the transaction and according to GSR, after sending $4 million to McDonald’s trust account, the company only received $2 million back and zero in cryptocurrency. GSR was handling the transaction for Alivia Corporation and the market maker proceeded to short 1,000 Bitcoin at $3,635 under the belief that the escrow transaction was properly executed. In addition to not receiving $2 million from McDonald, GSR says that it lost nearly $380,000 due to unwinding its short position. McDonald denies the allegations of fraud and said the transaction was properly executed and a portion of the funds were used to “unlock” a Bitcoin wallet. McDonald also claims that GSR Markets “confirmed delivery of 2,000 ‘non-spendable’ Bitcoin.” (RS)

11 days ago

Up and Down: RVN Plateaus, ENJ and COSM Surge

RVN currently comprises the 23rd top gaining asset of the past week following a dramatic rally to test resistance at the prior all-time high (ATH). In other market action, a dramatic influx of volume has propelled COSM and ENJ to top of the gainers list. Meanwhile, the week’s top losers appear to predominantly comprise illiquid altcoins, suggesting that the leading crypto assets will continue to extend their market dominance. Also Read: Market Maker Sues Lawyer Over $4 Million BTC Transaction Gone Awry RVN Plateaus Following Test of ATH Resistance Following a 200% rally in roughly two weeks, RVN price action appears to be starting to plateau following a test of the market’s all-time high resistance area of approximately 1,000 satoshis. After posting a local high of 977 satoshis two days ago, RVN has since retraced by 17%, ranking it as the 23rd strongest gaining crypto asset of the last seven days with a weekly gain of 69%. RVN/BTC - Bittrex - 4H RVN currently comprises the 54th largest cryptocurrency with a market capitalization of nearly $99.18 million and is trading for 808 satoshis or $0.032. In the past 24 hours, $30.23 million worth of RVN has changed hands. Record Volume Drives New Price Highs for COSM COSM is currently the third top gaining asset of the past week, post a seven day gain of 179% as of this writing. The gains have been driven by record volume, which propelled COSM to post a new all-time price high of 1,859 satoshis or $0.073 earlier today. COSM is the 98th-largest crypto asset with a capitalization of $42 million, and is trading for 1,591 satoshis or $0.062 as of this writing. Approximately $457.65 million worth of COSM was traded during the previous 24 hours. ENJ Posts Record Market Capitalization ENJ currently ranks as the fourth-top gaining crypto asset of the past seven days, currently posting a weekly gain of 196%. All-time volume highs have driven ENJ to currently post a record market cap of $164.75 million, placing ENJ as the 36th-largest crypto asset by capitalization. ENJ is trading for 5,482 satoshis or nearly $0.22 as of this writing. Nearly $160 million worth of ENJ has changed hand during the last 24 hours. Do you think RVN will break into to new all-time highs when measured against BTC? Share your thoughts in the comments section below! Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Images courtesy of Shutterstock, Tradingview, Coinmarketcap At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Up and Down: RVN Plateaus, ENJ and COSM Surge appeared first on Bitcoin News.

12 days ago

Bitcoin Cash [BCH] reward for users in Voltaire’s all-new Cashback scheme

UK-based crypto exchange Voltaire.cash will be rewarding users trading on its platform. Dubbed as the Voltaire CashBack scheme, this new reward system will enable users to earn Bitcoin Cash [BCH] and other cryptocurrencies with each trade the users make. The scheme was announced by the cryptocurrency exchange via a blog post that stated, “CashBack pays an astounding 0.2% of the value of each maker order filled on Voltaire” Source: Twitter The CashBack roll-out, which is for a limited period of time only, is currently live with respect to BSV/BCH and BTC/BCH trading pairs. The exchange confirmed that it will soon enable trading for ETH/BCH and LTC/BCH. Users on the platform will earn this new incentive by placing an order on any of the exchange’s markets. However, the order has to be a maker order. The moment the order is traded ‘either in full or partially,’ the account’s Voltaire balance will be credited with the same currency that was traded on the exchange. The reward will be accessible via the wallet section on the profile. Talking about the CashBack launch, Semyon Germanovich, Voltaire CEO and BCH proponent, said, “The release of Voltaire Cashback is an exciting and innovative event in the Bitcoin Cash ecosystem — Bitcoin Cash offers the technically stronger solution to scaling.” Germanovich further added that they were planning to incorporate Gabriel Cardona’s BCH-powered Badger Wallet. The 21-year-old CEO asserted that the Bitcoin core hard fork was the fastest technology for payments and trading. BSV trading on Voltaire’s exchange, a pure BCH market, was officially made available in February this year and came with ‘free withdrawals’ and ‘one confirmation’ on deposits. This incentive, in a market that is slowly retreating from the longest crypto-winter, was expected to spur users to trade in Voltaire’s platform. The exchange confirmed that in order to maintain the platform’s transparency, a calculator has also been incorporated to allow users to calculate their BTC earnings. Additionally, the London-based exchange also rolled out new features like margin trading, advanced trading tools, and a referral scheme. The post Bitcoin Cash [BCH] reward for users in Voltaire’s all-new Cashback scheme appeared first on AMBCrypto.

12 days ago

Crypto Market Wrap: What Big Announcement Has Boosted Stellar?

Crypto markets inching slowly higher; Stellar is moving up, Cardano and NEM not far behind. Market Wrap Crypto markets are slowly inching higher over the weekend indicating a big move could be bubbling up. Most of the major coins have not done much but larger swings by one or two has lifted total market cap slightly. It is currently approaching $135 billion and there is more green than red on the boards this Sunday morning. Bitcoin made it to an intraday high of $3,985 which is the highest it has been for two weeks. BTC has since pulled back to $3,950 but it has remained over $3,900 for the past 24 hours and added one percent on the day. The next move is a break above $4,000 which could come in the next few hours. Ethereum has made a little back to reach $137 again but gains are marginal and ETH has done very little for the past few days. XRP is in the same situation and the gap between the two remains the same as the Ripple tokens trades sideways at $0.312. The top ten is mostly in the green during today’s Asian trading session. One altcoin surging above the rest at the time of writing is Stellar which has made 7% on the day. XLM has reached $0.094 almost equaling its monthly high. Stellar has been one of the weaker altcoins over the past few months getting surpassed by its brethren in terms of market cap. The community is expecting a big announcement at the upcoming Money 20/20 fintech event which could be driving momentum. Bitcoin Cash is the only other altcoin with a decent gain as it makes almost 3%, the rest are a fraction of a percent off yesterday’s prices. There are a couple of movers in the top twenty at the time of writing, namely Cardano and NEM. ADA has added 5% on the day allowing it to flip Bitcoin SV and take eleventh spot and NEM has made 7.5%. The rest are pretty immobile with Maker and Ontology slipping back slightly. FOMO: Cosmo Coin Climbing Today’s big pump is Cosmo Coin which was recently added to the supported cryptos on Samsung’s new Galaxy S10. The Korean cosmetics based token has surged 46% on the day as it enters the top one hundred. The Cosmee service has been enabled on the Galaxy wallet which has generated the pump for COSM; Greetings from Cosmochain, We are notifying that Cosmee service is currently available through the Galaxy Wallet. For more details about the announcement, please visit our Facebook page!https://t.co/pIOcpdFYOD — Cosmochain(COSM) (@Cosmochain) March 9, 2019 THETA is also getting a boost today as it gets lifted 28% as the run up to mainnet launch gathers momentum. The only double figure dump is yesterday’s pump, Project PAI dropping 14% on the day. Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization has crept up about a billion bucks to $134 billion where it has remained for the best part of the past 24 hours. Daily volume is still high at $34 billion indicating a further move to the upside could be imminent. Since the same time last weekend crypto markets have recovered 3% while Bitcoin dominance has fallen to 51.6%. Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Crypto Market Wrap: What Big Announcement Has Boosted Stellar? appeared first on NewsBTC.

12 days ago

Is Tesla Readying For Bitcoin? Going Digital and Closing Stores

At the time of press, you will need exactly 107.81060414084 BTCs to be a super proud owner of a Lamborghini Aventador. That’s expensive but what is costly for everyone is the increasing air pollution. For a fact, studies show that even if the Italian car maker reduces their carbon emission by 35 percent, they will still be at the bottom of the list. But, anyhow, it is exactly what we should expect from a V-12 engine with a top speed of 350 miles per hour. Read: Bitcoin (BTC) Super Bullish, In Use by Less than One Percent of World Population The factory might have decided to put a 17,000 m2 of solar panels and install better insulation to reduce noise pollution, but still, we remain with a simple fact: they are still not very effective in cutting down pollution. Every purchase is therefore a compromise. Out goes Lambo, Enter Tesla. About Tesla We know a lot about Tesla. Elon Musk has ambitious plans of going to the moon—right where we expect Bitcoin prices to be lodged at, making Sci-fi movies a reality. With Space X, he is making headlines. However, it is what Tesla stands for: change. Formed in 2003 by a group of visionary engineers, they embarked on a plan to demonstrate to the world that drivers need not to compromise and electric cars, despite all the myths, are adequate and reliable. These engineers believe that electric cars are “better, quicker and more fun to drive than gasoline cars” and they are right. If anything, they have everything to brag about. Model X is the safest, quickest and most reliable five star sports utility vehicle across all categories from the National Highway Traffic Safety Administration. Meanwhile, Model 3 is a low priced, high-volume electric car that entered into production in 2017. What’s more, Tesla is not all about electric cars. Work is in progress to build Gigafactory 1 dedicated to significantly slashing the cost of battery cell production needed if their ecosystem is going to flourish. Why Tesla and Bitcoin Have A lot in Common However, what is interesting is Tesla’s decision to close all of their 378 physical stores. Advised by solid statistics that 78 percent of Model 3 orders were made online and a further 80 percent bought the car without test driving, Elon says the decision is just but a natural step. It may be a risky step but Elon is used to risk. See Also: Why Tesla Accepting Bitcoin (BTC) and Crypto Would Be Ideal for Both Industries Like Bitcoin, Tesla wants all their transaction to be digital. What this means is that anyone, anywhere in the world can shop straight from the comfort of their homes and order a Model 3 without the need of physically visiting a store to verify features. It is a cost cutting move that is expected to further lower the cost of Model 3, boost sales and help the company increase revenue by at least six percent. Although jobs will be lost, the decision is a stroke of genius and since Tesla’s modus operandi doesn’t include third party intermediaries, it will be a natural step to incorporate a similar currency in Bitcoin. With a trustless network devoid of intermediaries, Bitcoin like Tesla, work on the premise of disrupting status quo. That it is about time for age-old models to change and transition to a global and inclusive system. Lol, it's spreading. I will buy a Tesla if you accept crypto... https://t.co/IgdieNZA0H — CZ Binance (@cz_binance) October 23, 2018 Changpeng Zhao will be the first to open doors, buying a Model 3 if Tesla accepts Crypto. More will follow as it is something new. If Jay Z and Beyonce accept ticket payment in Bitcoin why won’t Tesla, a mega motor company, accepts Bitcoin? No doubt, if they do, others will follow and we all know how pioneers in any field benefit whenever they trail blaze. The post Is Tesla Readying For Bitcoin? Going Digital and Closing Stores appeared first on Ethereum World News.

13 days ago

Crypto Market Wrap: Quick Recovery From $3 Billion Dump, Chance For Further Gains?

Crypto markets recover from a mini dump; Stellar and Cardano holding up, BSV and Maker sliding, Kyber Network surging. Market Wrap As we enter the weekend crypto markets are still consolidating but have recovered from a $3 billion dump a few hours ago. The majors have been largely motionless over the past 24 hours and total market capitalization is still holding above $130 billion. The lack of momentum could signal another big dump around the corner but the quick recovery is promising. Bitcoin has hit $3,950 twice over the past day but the second move resulted in an instant dump back to $3,875. This resistance wall is proving very hard to overcome for BTC. In the past couple of hours it has managed to regain some steam to get it back over $3,900 but only just. Ethereum continues to weaken and has dropped to $135, its lowest level since Tuesday. A rally was looking promising before markets followed Bitcoin’s bounce off resistance again. ETH has maintained its lead above XRP which has also declined a further 1.5% on the day. The top ten is all red during Asian trading today aside from Stellar which has made almost 1.8% on the day taking XLM to $0.087. Litecoin has also posted a marginal gain as it reaches $57 and extends its lead over EOS which has lost over 2%. Tron is down 2.5% at the moment as its market cap continues to dwindle. Altcoins in the top twenty are equally mixed with marginal movements at the time of writing. Cardano is still in the green but only just, the rest are flat or falling. Bitcoin SV, Maker, and Ethereum Classic have taken the biggest slides with losses of over 3% a piece at the moment. FOMO: Kyber Network Cranking Today’s big pump in the top one hundred is Kyber Network which has surged 75% as volume increases tenfold. Binance is getting a third of the global trade volume but South Koreans are also buying it up in KRW on Upbit and Bithumb at the moment with a combined 50%. It appears that a coin burn, roadmap update, and KyberDAO Voting Experiment has driven the fomo for KNC; Calling all Kyber community members! As part of our early experiments to gather feedback and metrics on building a DAO, you are invited to participate in the first KyberDAO Voting Experiment using @AragonProject Find more details here: https://t.co/sos0yxPJlJ — Kyber Network (@KyberNetwork) March 8, 2019 Project PAI is also on the fomo train with a 60% pump today as the alpha version of their PAIYO app gets launched. Enjin Coin is also going strong still adding 30% to reach $0.20. At the messy end of the top one hundred altcoins are Nexo and Chainlink dropping 7% each. There are no major dumps occurring right now as most coins are still range bound. Total market cap 24 hours. Coinmarketcap.com Total market capitalization is still at $133 billion where it was this time yesterday. Markets are starting to recover from a $3 billion dump a few hours ago and daily volume has increased again to $34 billion. Crypto markets are only 2.3% higher than they were this time last Saturday but gains on the month are still an impressive 10%. Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Crypto Market Wrap: Quick Recovery From $3 Billion Dump, Chance For Further Gains? appeared first on NewsBTC.

13 days ago

Trading Platform Voltaire Rewards Users With BCH for Every Trade

On March 8, London-based exchange Voltaire announced a new incentive for registered traders that provides the ability to earn BCH during each trade executed on the platform. According to Voltaire, which bases all of its exchange paired denominations in BCH, users will earn 0.2 percent of each trade and will be paid in bitcoin cash. Also Read: Voltaire.cash Exchange Launches - Supporting BCH as the Base Exchange Pair Voltaire Now Offers a Cashback Incentive on Every Trade BCH-fueled exchange Voltaire has announced a new reward for traders. Voltaire is a cryptocurrency trading platform that bases all market denominations in BCH which launched in September of 2018. At the moment the exchange provides two markets - BTC/BCH and BSV/BCH - but in the near future the platform is implementing ETH/BCH and LTC/BCH. Now Voltaire has added a program called Cashback that will provide users with 0.2 percent on every executed trade. BCH rewards accumulated will be sent to the user’s exchange wallet. The Cashback promotion is enabled by default on all pairs offered by Voltaire. Voltaire.cash exchange supports BCH as the base exchange pair. “0.2% of the value of each maker order made on Voltaire is credited directly to the user’s wallet in the disposed of currency,” ran the company’s announcement. “In practice, this means that if a user is to submit an order to buy BTC, they’ll get 0.2% of the value of their order back in bitcoin cash — The total earnings of any user can be accessed from the wallet section of the profile.” The exchange also detailed that Voltaire is continuing to expand its team and has other ambitious projects planned. According to Voltaire, the startup is expecting an investment in Q2 that will help bolster the platform’s goals. “Several institutional and strategic investors have expressed interest in funding Voltaire’s growth,” the exchange remarked. Voltaire has already received early funding from the incubator Think, Try it, Do, which is sponsored by the University of Exeter. Voltaire’s trading engine shows cashback rewards on the bottom left of the screen. Voltaire CEO: ‘BCH Offers a Stronger Solution to Scaling’ 21-year-old Semyon Germanovich is a huge fan of the BCH ecosystem and believes the Cashback program is a great incentive during the crypto winter. “During a bear market, the best thing one can do is to get their head down and build utility, drive adoption and create value,” Voltaire’s founder Germanovich opined. “The release of Voltaire Cashback is an exciting and innovative event in the Bitcoin Cash ecosystem — Bitcoin Cash offers the technically stronger solution to scaling.” Germanovich added: High transaction fees and extremely slow processing times as observed in 2017 are unacceptable and have a catastrophic impact on payment and trading experience — We chose Bitcoin Cash because we believe it’s the most efficient and fastest technology to use for payments and trading. There aren’t many exchanges that offer pure BCH markets like Voltaire, so BCH enthusiasts have been visiting the platform since launch. Currently, the trading platforms Panda Exchange and Coinex offer a section of BCH markets as well but they also offer segmented BTC and ETH markets too. With 0.2 percent BCH rewards for each maker order made on Voltaire, the incentive may entice more traders to visit the exchange. “As part of Voltaire’s core value of transparency, a calculator has been built to allow users to calculate potential bitcoin cash earnings for trading on Voltaire,” the exchange concluded. What do you think about Voltaire’s BCH-powered Cashback incentive program for trades? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Voltaire, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section. The post Trading Platform Voltaire Rewards Users With BCH for Every Trade appeared first on Bitcoin News.

13 days ago

MakerDAO's Token Holders Agree to Raise DAI Usage Fees

DAI holders, MakerDAO’s USD-pegged, Ethereum-based stablecoin, have agreed to increase the costs of the “DAI Stability Fee” after holding a vote earlier today. This means the cost for users to access the stablecoin-based lending program will rise from 1.5% to 3.5%. MakerDAO currently has a market capitalization of $677 million and each MKR token trades for around $677. The voting process took four days and more than 42,000 MKR tokens were cast as votes in support of the fee increase. Only 9 MKR tokens were cast by users who preferred to not raise the Dai Stability Fee. The decision came after DAI developers voiced concern that the ecosystem could soon experience liquidity problems and Richard Brown, the head of community development at the MakerDAO Foundation said it is clear that there was “tremendous support for the decision.” (RS)

14 days ago

Markets Update: Cryptocurrencies Struggle to Surpass Upper Resistance

Cryptocurrency markets have been looking more optimistic but many digital assets are still struggling to surpass upper resistance in order to move forward. On Friday, March 8, trade volumes have increased, showing a quick spurt of renewed energy but market indicators suggest there a few more hurdles ahead. Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin Top Cryptocurrencies Wrestle With Sell Walls Crypto markets are showing some rigor during this morning’s trading sessions, leading up to the weekend, with many short-term outlooks still bullish. Overall trade volume for the crypto economy has increased today, spiking to $31.1 billion at the start of the day. At the time of publication, all 2,000+ digital assets have a market valuation of around $132.7 billion. Bitcoin core (BTC) markets show prices are hovering around $3,928 and a market capitalization of around $69 billion. BTC is up 1.4% for the week and up about 0.39% over the last 24 hours. The second highest market cap still belongs to ethereum (ETH) where each coin is swapping for $137. Top 10 cryptocurrencies on March 8, 2019. Prices are down over the last 24 hours around 0.63% but ETH is up 0.07% over the last seven days. Ripple (XRP) markets are down 1.15% for the day and 2.55% for the week as each XRP is trading for $0.31 per coin. Litecoin (LTC) is still the week’s top contender as markets are still up over 18% for the week and 0.13% today. Each LTC is trading for $56 per coin and the market cap is roughly $3.4 billion, allowing LTC to command the fourth largest market cap. Lastly, eos (EOS) is up about 4.7% over the last seven days but today the currency is down 1%. At the moment, each EOS is trading for $3.76 per coin. Bitcoin Cash (BCH) Market Action Bitcoin cash (BCH) prices are hovering around $130 today and buyers are still struggling to break upper resistance above the $145 zone. Currently, BCH markets are down 1.5% over the last 24 hours and 2.2% for the week. BCH commands the sixth largest market cap with an overall valuation of about $2.3 billion this Friday. The top five BCH exchanges today swapping the most volume are Lbank, Bitmart, Binance, Hitbtc, and Upbit. BCH/USD 7-day. March 8, 2019. The trading platform Lbank is capturing the lion’s share of BCH trades with 33% today. ETH is still the dominant BCH pair on March 8 with 36.7% of all trades. This is followed by USDT (31.4%), BTC (24%), KRW (3.21%) and USD (2.98%). Overall, the South Korean won has seen a decent spike in BCH trade volume this week. Bitcoin cash has the eighth highest trade volume today just below neo and above zcash with $298.51 million traded in the last 24 hours. BCH/USD Technical Indicators Looking at the short term four-hour chart on Bitstamp and Kraken shows BCH bulls are trying relentlessly to wrestle past resistance but so far they’ve been unsuccessful. Still, the BCH short-term outlook remains bullish and a few indicators confirm some more attempts from persistent buyers on the way. Currently, the two Simple Moving Averages have a nice wide gap with the 100 SMA well above the long-term 200 SMA trendline. This gives traders a positive outlook as the path toward the least resistance is still the upside. BCH/USD 4-hour. March 8, 2019. However, the four-hour Relative Strength Index (RSI -44.3) is meandering in the middle indicating uncertainty among traders. During the middle of last week, the moving average convergence divergence (MACd) indicated that a reversal was in the cards and the signal still stands. Looking at the order books show deep resistance up until the $145-155 range and from there BCH bulls could do well up until the $175 range before the next pitstop. We can see on the back side that if bears grabbed the reins they will be stopped at the current vantage point up until $110 per coin and will meet bigger buy walls again. BCH/USD 1-day. March 8, 2019. The Verdict: Optimism in the Midst of Negative Outlooks Most traders are optimistic things will head northbound for a short period of time but some believe the market will drop again after reaching a certain point. Perennial perma-bear Dr. Doom (Nouriel Roubini) explained in a recent interview with the CFA Institute that BTC will continue to plunge in value and claimed that crypto supporters are fanatical. “I met some of these individuals, and I must say I’ve never seen in my life people who on one side are so arrogant in their views, who are total zealots and fanatics about this new asset class,” Roubini stated. Despite some of the bullish indicators, market analyst Jani Ziedins told Marketwatch this week that if BTC continues to struggle below the $4K range, the case for a bull run may evaporate. “Bitcoin continues to hover underneath $4k resistance,” Ziedins wrote. “It wasn’t all that long ago we were talking about $9k support, then $8k and $7k. $6k and $5k followed not long after. Now $4k turned from a floor into a ceiling.” Ziedins added: Adoption of cryptocurrency for han

14 days ago

The Maker Foundation Interim Risk Team has placed an Executi...

The Maker Foundation Interim Risk Team has placed an Executive Vote proposal into the voting system to enact a new… https://t.co/kgW1J5brzv

14 days ago

MakerDAO's Token Holders Vote in Favor of Increasing DAI Usage Fees

The users and holders of DAI, which is MakerDAO’s USD-pegged, Ethereum-based stablecoin, have reportedly voted in favor of increasing the costs associated with Maker’s algorithmic lending program. DAI’s investors voted to increase the “DAI Stability Fee” which will effectively raise the total cost to users for accessing the stablecoin-based lending program from the current 1.5% to 3.5% of the transaction amount. Established in 2017, the MakerDAO ecosystem allows users to obtain loans that are managed and issued using the DAI stablecoin. The issuance of DAI is tracked on a blockchain which serves as both a counterparty and a lender. In order to facilitate the voting process on MakerDAO’s loan-issuing platform, users are able to cast their votes using MKR tokens.

14 days ago

A Guide On How To Select The Best Cryptocurrency Trading Platform

A cryptocurrency exchange is a marketplace where you can trade cryptocurrencies for another digital asset or fiat currency. Basically, cryptocurrency exchanges assist investors to sell their coins swiftly in an effective manner. The market has different cryptocurrency exchanges and navigating and settling on the right platform can be hard. However, there are factors to consider before opening an account with any exchange. The exchange should meet your needs and requirements. What to Know Before Choosing an Exchange Fees: We have different types of fees charged by cryptocurrency exchanges. You should settle on an exchange that charges low deposit and withdrawal fees. Most reputable exchanges usually charge a fee that does not exceed 0.25%. Note that fees differ across various exchange platforms. Also, look out for exchanges with discounted fees. Reputation: Look at the reviews by other users to determine the strength of an exchange in the market. Reviews will give you a rough idea about the direction of an exchange. All reviews are important because they are based on factors like liquidity and security. Furthermore, look at the exchange’s online community. Monitor the type of conversation, the number of people in the community and any complaints being raised. Go for an exchange that has positive feedback from users. Liquidity: Liquidity simply means the degree to which a particular asset can be quickly bought or sold without altering the general stability of its price. Join an exchange with higher liquidity since it guarantees market stability of the exchange. Higher liquidity means that you will have access to quicker transaction times. Additionally, with high liquidity, every user will access fair prices. Note that liquidity is affected by factors like trading volume and regulations. Security: Your platform of choice should have solid security measures to protect your funds. Any exchange should have basic security features like two-factor authentication, username, password, and extra security keys. Measures such as e-mail encryption with OpenPGP or U2F is a bonus. Also, look at the history of the exchange for any notable security breaches. Other factors include user interface and supported cryptocurrencies.Its important to know what are the best cryptocurrency brokers to project yourself, your funds and make sure you’re investing your hard earned cash right. Here are some of the reputable exchanges you can choose from. Binance Binance is a leading crypto exchange offering competitive rates with a market cap of $133,856,269,432. The platform supports more than 100 coins. The exchange has a positive reputation in the market from its global pool of users. The platform’s users can choose between basic and advanced trading interfaces. The latter is quick and mostly meant for newcomers. The advanced trading interface is meant for experienced investors. It is more complex. Binance offers crypto-to-crypto trading. Recently, Binance launched new fiat to crypto exchange in Jersey. The exchange offers trading options in Bitcoin, Ether, BNB trading pairs. Notably, the exchange supports over 100 coins like Ripple and Bitcoin Cash. Binance offers a flat rate of 0.1% for traders who don’t need instant fiat liquidation. Additionally, BNB offers a 25% discount on trade fee when working with the coin. Deposits are free. Withdrawal fees are always updated on a regular basis. Binance only has limits on withdrawals. From the security aspect, Binance deploys the CCSS and ISO/ICO security protocols. We also have the Google Authenticator and 2FA to verify withdrawals and security modifications. Additionally, the exchange does not store user data. Despite, the large customer base, Binance customer service is very responsive. On the downside, the inconsistent withdrawal fees might turn off some people. Coinbase Pro Coinbase Pro is a product of Coinbase. The exchange has features meant for advanced traders. It comes with detailed charts, graph, and different trading options. Coinbase Pro was designed for individual traders but not institutions. Supported assets on Coinbase pro depend on regulations of different regions. Even though users can view the order book they can only exchange pairs allowed in their regions. Popular trading pairs include ETH/BTC, LTC/BTC, and BCH/BTC. US traders have access to BTC/USD, ETH/BTC, ETH/USD, LTC/BTC, LTC/USD, BCH/BTC, and BCH/USD. On fees, Coinbase Pro deploys the maker-taker model. Maker traders do not pay anything. However, taker orders are done at market price and filled at once. Note that an order can be divided into multiple orders that include a maker order and a taker order. For a pricing tier of up to $10 million, the taker fee is 0.3%. Put in mind that Coinbase Pro has an option of instantly transferring funds to Coinbase account. To guarantee the safety of assets, Coinbase stores 98 percent of customer funds offline. Furthermore Coinbase Pro distributes assets geographically around t

14 days ago

Samsung Partnership Was Confirmed: Enjin Coin (ENJ) Gains 75% In Response

The price of Enjin Coin (ENJ) has increased with more than 75 percent over the last 24 hours according to data from CoinMarketCap. The partnership might also be a sign that the tech mogul is diving deeper into the field of e-gaming. Samsung Partners Up With Enjin Coin: It’s Official Media outlets in South Korea confirmed the partnership between the Singapore-based company Enjin, which is behind the cryptocurrency Enjin Coin (ENJ) and Samsung. The digital currency will be supported by Samsung Galaxy S10 - the company’s latest flagship smartphone. Somewhat expectedly, the price of ENJ surged on the news. Over the last day, it managed to gain upwards of 75 percent. At the time of this writing, ENJ is trading at $0.17 and it’s the best performing altcoin from the top 100 cryptocurrencies as listed on CoinMarketCap. Currently Enjin holds a market cap of $127 billion. This is not the first time ENJ is marking a serious overnight price surge. Just a few weeks ago, when rumors regarding its partnership with Samsung started circulating the internet, the cryptocurrency gained upwards of 300% overnight. Is Samsung Diving Deeper Into E-Gaming? The confirmation of the partnership between Samsung and Enjin signals an effort on behalf of the tech giant to increase its involvement into the rapidly growing e-sports market in the region. It’s important to note that Enjin is a company based in Singapore and is creating an entire gaming ecosystem. According to reports, the platform already has upwards of 20 million users split across 250,000 gaming communities. Its native cryptocurrency, the Enjin Coin, is used to assign ownership to in-game assets. It’s supposed to enable gamers to monetize the time they spent playing video games. Earlier in February, Venture Beat reported that Samsung is also working with a popular game engine maker - Unity Technologies. Their work together is aimed at improving device performance and to help games run smoother on the new flagship Samsung Galaxy S10 smartphone. In any case, it’s clear that Samsung is also furthering its journey into the field of cryptocurrencies, as the new smartphone will also feature a hardware-backed cryptocurrency storage solution. It will initially support Bitcoin (BTC), Ethereum (ETH), Cosmo Coin (COSM), and Enjin Coin (ENJ). The post Samsung Partnership Was Confirmed: Enjin Coin (ENJ) Gains 75% In Response appeared first on CryptoPotato.

14 days ago

Survey Shows Consumers and Investors Remain Bullish on the Future of Cryptos

It’s been a long crypto winter, but according to a recent survey, consumers and investors are still positive about the long term value of leading cryptocurrencies. Researchers from the FINRA-registered broker Sharespost emphasize that people have recently become more optimistic about digital assets and plan to increase their holdings. Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin Research Analyst Sees ‘Growing Bullishness’ Surrounding Digital Currencies Since December 2017, cryptocurrency holders have been riding a downward rollercoaster, with many wondering when the digital economy will become bullish again. On March 5, researchers from Sharepost disclosed data they recorded from a survey that involved 1,018 consumers and 96 accredited and institutional investors. Sharespost research analyst Alejandro Ortiz remarked that the study involved using Surveymonkey and Amazon Mechanical Turk as well. More than 30 percent of investors surveyed revealed that they owned at least $25,000 in BTC, and 20 percent polled owned a similar amount of ETH. Individuals surveyed also revealed the most popular coins they own mimic the current cryptocurrency market cap, with BTC, ETH, and XRP dominating respectively. However, key findings in the report include ETH continuing to see “decreased expectations” which the research suggests may be due to the delayed Constantinople upgrade. Most surveyed participants asserted there was a great likelihood of crypto prices rebounding. “The crypto winter is not over, but the latest survey data indicate there is a thaw in sentiment and growing bullishness about the future of cryptocurrencies and blockchain technology,” Ortiz explained after publishing the company’s findings. Money Transfer and Payments Will Disrupt the Financial Sector Another interesting discovery was that 39 percent of the investors and 46 percent of the consumers surveyed believe that one day their employers will use blockchain technology to some degree. Investors seem very sure about this coming to fruition, but consumers are less certain that blockchain technology will follow this trajectory. Other key findings are that “money transfer and payments” are the top categories for blockchain’s ultimate disruption. During Sharepost’s survey last year, investors believed widespread crypto and blockchain adoption would take place in 2020, but now, surveyed investors believe this won’t happen until 2025. A good majority of folks polled said they want governments to give better clarity regarding industry regulations as well. “Forty-three percent of investors expect regulations governing cryptocurrencies to improve looking ahead — Nearly 75 percent of those surveyed expect greater clarity from regulators regarding cryptocurrency,” states the report. Overall, the survey concludes that investors are willing to bet big on BTC and consumers are diversifying. Interestingly, toward the end of the report, the company said “for the second consecutive survey, 80 percent or more of investors see Coinbase as the most successful exchange,” while Binance held second place for both groups of participants surveyed. What do you think about this survey and respondents’ crypto expectations? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, and Sharepost. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Survey Shows Consumers and Investors Remain Bullish on the Future of Cryptos appeared first on Bitcoin News.

14 days ago

Donald Trump Will Strike Back Hard on China’s ‘Spying’ Huawei For Suing the US

President Donald Trump will hit back hard as Huawei files a lawsuit against the United States government. Huawei, the largest smartphone maker in China, says Trump acted as “judge, jury and executioner” with his ban on Huawei products. The Chinese telecoms giant says the US violated its own constitution. The lawsuit, filed in Texas, is the most aggressive action yet in the ongoing dispute between Trump and Huawei. The news will anger the president as he inches closer to a trade deal with China. He will strike back with the full force of his administration and use the dispute as The post Donald Trump Will Strike Back Hard on China’s ‘Spying’ Huawei For Suing the US appeared first on CCN

15 days ago

QuadrigaCX co-founder Michael Patryn allegedly traded large positions on BitMEX

Michael Patryn, co-founder of QuadrigaCX, appears to have been linked to a Reddit user u/MikeXBT who frequently posted about making large volume trades on BitMEX. QuadrigaCX, a Canadian cryptocurrency exchange, ceased operations on January 26, leaving many of its clients confused and panicked. Seven weeks prior, the firm’s CEO and co-founder, Gerald Cotten, suddenly passed away. On February 8, QuadrigaCX filed an application for creditor protection in the Nova Scotia Supreme Court, citing issues with locating “very significant cryptocurrency reserves held in cold wallets.” Michael Patryn's connection to MikeXBT Michael Patryn who co-founded QuadrigaCX along with Gerald Cotten now appears to be linked to a user going by 'MikeXBT'. In MikeXBT's last public comment posted a month ago, he seemed to confirm that he is a shareholder in QuadrigaCX. He said, referring to himself as a shareholder: We were invited. It was not mandatory. Most shareholders did not attend. In another comment posted in February 2019, MikeXBT responded to another user calling him “Mr Patryn.” In April 2014, MikeXBT was also directly linked to Michael Patryn as one of the candidates running for a slot on the Bitcoin Alliance board. Francis Pouliot posted his information on a public forum in 2014 including his handle ‘MIKE XBT’. Globe and Mail published a story last week asserting that Michael Patryn’s real name was Omar Dhanani and that he was a “convicted felon who served time in the United States for his role in an online identity-theft ring.” In 2004, when Dhanani was 20 years old, he was arrested by the United States Secret Service for providing an anonymous “electronic money-laundering service.” U.S. court records indicated that Dhanani had an alias of Omar Patryn. He was sentenced to 18 months in federal prison and released in May 2007. According to Patryn, he had split with QuadrigaCX in 2016, after having a fight with Cotten about taking the company public. BitMEX positions The connection of MikeXBT and Michael Patryn could potentially be problematic because the account often posted about taking unusually large positions on BitMEX. Some internet commentators went as far as to accuse Patryn of using some of the QuadrigaCX’s funds to trade. In one of the comments posted on r/BitcoinMarkets in April 2018, u/MikeXBT said: Closed my $7m long posted here from $6580, at an average of $6840. A gain of approximately 4%, plus earned a bit in maker fees and perpetual fundings. In September 2018, MikeXBT posted about taking positions as high as $8 million. Long $8 MM @ $6646. 1x leverage, soft stops at 5%. I allowed part of my hedge short to expire during the September settlement on Mex, planning to reopen in $500k chunks as the price increases. MikeXBT didn’t take long positions exclusively though. He also took plenty of short positions such as this one from April 2018. Added $1MM to my $2MM short @ $8722. Current position $3MM @ $8895. I’m still expecting substantial downward movement, but will consider this trade lost if we break the $9400 range with conviction. A Twitter account ‘I am Nomad’ also posted what seems to be a list of positions taken by a user ‘Patryn’ on BitMEX. It appears that Michael Patryn, a co-founder QuadrigaCX, had taken some large positions on BitMEX. What’s still not clear is how Patryn funded his multi-million dollar trades.

15 days ago

Ex. IMF Economist: Shorting Tesla (TSLA) Stock Might Be the 2019 Trophy Trade

CoinSpeaker Ex. IMF Economist: Shorting Tesla (TSLA) Stock Might Be the 2019 Trophy Trade This pessimistic forecast of Tesla from Dow comes during a time in which strategists remain concerned about the short-term future of the company and its drastic change in strategy. On March 1, following the release of Tesla’s (TSLA) statement on its plans to switch all sales online and close down many of its galleries and stores, Lake Ave Financial CEO Alex Chalekian said that the company sold its position in Tesla for advisory clients. Chalekian tweeted: It pains me to say this, since I really love the company, but we have sold our position in #Tesla for our advisory clients. I believe that the decision to close retail stores is a bad one and points to the weakness in sales and financial strength of the company. $TSLA — Alex Chalekian (@AlexChalekian) March 1, 2019 The growth of the revenue of Tesla has exceeded the expectations of analysts. However, the company reached its first profitable quarter in 2018 and the complete 180 change in strategy from expanding retail stores to move all sales online has shown that the company is on a weaker footing. Tesla’s Sweet and Sour News Elon Musk told reporters on Thursday that Tesla has started taking orders for the $35,000 model 3. This was great news for the company, finally delivering on its 2-year-old promise the South African Entrepreneur had made. On the other hand, he announced some bad news including job cuts and closing stores in order to trim costs. The worst of the news was by far the announcement that the company will not post a profit in the first quarter. This sent the stock tumbling after hours wiping the gains it had made previously during the day as investors had trusted Musk’s promise that Tesla’s loss-making days are over. Few days ago Musk said Tesla would not be profitable in the first quarter of 2019 and disclosed that Tesla is closing most of its brick-and-mortar stores. Shares of the electric-car maker fell as much as 5.2% Tuesday, to their lowest level since October, after it was reported that China, a market considered a key growth opportunity for Tesla, was halting Model 3 sales due to “various irregularities” in 1,600 Model 3 sedans. China’s customs authorities later accepted a plan from Tesla to remedy the imported cars’ clearance issues. The stock price was holding slightly higher at $276.91 at the time of writing. Meanwhile, Musk has until March 11 to tell the Securities and Exchange Commission why he shouldn’t be held in contempt of court over tweets he posted last month that the federal agency says violated the terms of its settlement with the executive. Brian Johnson, an analyst at Barclays wrote: “Much of the bull narrative has rested on Tesla being the next Apple, selling high-volume EVs at premium price point and at high gross margins, in part aided by a unique branded retail presence - a narrative we see as undermined by the recent price cuts and closing of most of the stores.” He also added that they believe the bull narrative will shift to Tesla as a combination of Amazon and Ford Model T. “That is the new strains of the bull argument are now that eliminating stores, on top of the prior disruptive innovation of the eliminating franchise dealers, means that Tesla has an unassailable cost advantage, as does Amazon versus traditional brick-and-mortar retail.” Citi analyst Itay Michaeli told clients that while bulls will applaud Tesla’s pricing achievement, bears could suggest the move was motivated by slowing demand. He wrote: “If demand doesn’t surge from here (or if Tesla struggles to meet it/service it), the bull case could suffer meaningfully.” Michaeli rated the stock as “sell/high risk,” with a $273 price target and added that if demand does surge, the bull case will likely live on (through Model Y) even if Tesla’s gross margins end up lower, so long as the company can be profitable in Q2/beyond. Analysts mostly agree that unlike many in the tech world, Tesla is a company Wall Street never knows exactly what to do with. When the company is performing well, outside noise (including SEC investigations) scare investors away. When things are quiet, the company reports challenges. It’s a classic scenario of “what goes up must come down,” as is the case with Tesla’s stock chart over the past 12 months. Ex. IMF Economist: Shorting Tesla (TSLA) Stock Might Be the 2019 Trophy Trade

15 days ago

Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

CoinSpeaker Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC Just recently, the whole crypto community has been actively discussing XRP listing on Coinbase. It was a milestone for both of them which has resulted in disputes whether there were no Coinbase’s listing rules violations due to the controversial nature of the relations between Ripple and XRP. Though Ripple is doing its best to convince the audience that XRP is not a security and it’s not centralized, there are still a lot of doubts from the side of the industry’s participants and players. XRP on Huobi OTC Nevertheless, XRP is moving forward. As it has been announced, the coin has recently joined Bitcoin, Ethereum, Tether, Eos and Huobi Token in the list of digital assets supported by Huobi’s over-the-counter (OTC) trading platform. This update is said to be available to the platform’s users in 24 different world’s currencies, the list of which includes USD, GBP, CND, CAD, EUR and others. The maker fee will be different for different currencies. As for the taker fee, it is set at 0%. Speaking about their new move, Livio Weng, the CEO of Huobi Global, stated: “In addition to serving as Huobi Global’s main onramp, Huobi OTC is also our main platform for users who prefer peer-to-peer trading. It is very important for our overall trading system. The addition of Ripple is a big step forward in expanding our already extensive offering here.” Of course, Mr. Weng meant to say XRP instead of Ripple in this very context, nevertheless, it’s quite a common case for these two notions to be misused. The main aim of the peer-to-peer OTC wing of China-based crypto exchange Huobi is to provide a reliable link between digital assets and fiat currencies. Also, it functions as an escrow to those who place buy or sell ads on the platform and then carry out transactions exchanging crypto and fiat currency. As for Huobi Global itself, it is the world’s eighth largest crypto exchange by trading volumes and it makes a huge contribution to the growth of XRP. The share of Huobi Global exchange in XRP trading globally accounts for 5.729% and the exchange contributes over $20.733 million worth of trading volume for XRP through the offered trading pairs: XRP/USDT, XRP/BTC, XRP/HT. XRP Performance In February, when it was announced that XRP had been listed on Coinbase, it was expected that this news would boost the liquidity of XRP by manifold times. Quite soon, the price of XRP increased by more than 10%. Nevertheless, the growth didn’t last long. Now it is ranked third in the list of major cryptocurrencies with a market capitalization of $12.979 bln. It is traded for $ 0.31 and has gained 0.32% over the last 24 hours. But even these not very positive changes in its price despite all the recent achievements do not make XRP community lose hope for the bright future. Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

15 days ago

Circle-Owned Poloniex Exchange Slashes Fees for Nearly All Traders

Circle-owned crypto exchange Poloniex has streamlined its fee structure and slashed fees for nearly all of its traders. According to Poloniex, trading fees on the exchange are now among the most attractive in the industry. Ninety-nine percent of traders now have lower fees, and the number of fee tiers has been reduced from nearly a dozen to just three. Maker fees range from zero to 0.08 percent while taker fees range from 0.10 percent to 0.20 percent. The new fee structure takes effect March 6. (GT)

15 days ago

Dai falls below dollar peg, kicking off a monetary policy quandary

A victim of its own success MakerDAO has been heralded as the breakout decentralized application, and rightly so. A cursory look at the system’s metrics reveal unprecedented growth in spite of tempestuous market conditions: $298.2 million worth of Ether is locked in Maker’s contracts, accounting for more than 2 percent of Ether’s circulating supply and 89.9 percent of Ether deposited in ‘decentralized finance’ applications. There is currently $92.3 million worth of Dai in circulation held across more than 17,000 addresses and loans remains safely collateralized at 323 percent. The market continues to indicate increasing confidence in the MKR token, which is trading up 92% percent versus the dollar over the last three months. Source: mkr.tools However, in some sense, MakerDAO has become a victim of its own success. The recent introduction of a user friendly Collateralized Debt Position (CDP) portal, coupled with the ultra-competitive 0.5 percent Annual Percentage Rate (APR), has led to a precipitous increase in Dai supply. Given that most CDP owners are using newly generated Dai to leverage long ETH, the majority of this Dai is immediately ending up on the market. Due to a lack of existing natural sources of demand — merchant adoption, dApp integration, desire for a censorship resistant stable store of value - there is currently insufficient buy pressure to match this supply glut. Breaking the peg As a result, Dai has broken its intended dollar peg. Vishesh Choudry’s chart shows Dai Volume Weighted Average Price bouncing between $0.97 and $0.99, while Lev Livnev’s chart, which shows the execution of Dai trades across multiple decentralized exchanges, indicates that, over the past month, Dai has consistently been trading between $0.96 and $0.97. Source: Vishesh Choudry Source: Lev Livnev Extraneous factors complicate Maker monetary policy The fascinating part of MakerDAO is that it has to contend with the same issues as a central bank but in an ostensibly decentralized, transparent fashion. It’s worth taking some time to explore the project’s YouTube channel, which hosts video recordings of the bi-weekly risk and governance meetings, in which various stakeholders come together to discuss and debate future developments and protocol parameters. Indeed, like a central bank, MakerDAO has a monetary policy toolbox that can be leveraged to effectively target the dollar peg. To date, monetary policy, in the form of a stability fee change, has been used sparingly: MakerDAO launched in December 2017 with the stability fee set at 0.5 percent APR, raised the rate to 2.5 percent in August 2018, and then proceeded to lower it back to 0.5 percent in December 2018. This relatively hands-off approach was largely successful due to the underlying market context. With Ether collateral losing value on a week-by-week basis, CDP holders were naturally incentivized to bid up, and proceedingly burn, Dai in order to avoid liquidation proceedings. As the chart below shows, bites, which refer to the start of liquidation proceedings, were fairly large and frequent between July-December 2017, when Ether’s price fell from $480 to $80. Since December, Ether has found a local bottom, rising from $80 to today’s price of $136. As such, bites have been of a far smaller nominal magnitude, requiring less Dai to be purchased to cover outstanding debt. Indeed, as market sentiment begins to shift from terror to a semblance of hope, MakerDAO is finally faced with the forces of expected collateral appreciation and its various consequences. Source: mkr.tools With Dai trading below $1 since the start of 2019, MKR holders have resolved to increase the stability fee, with the latest hike up to 1.5 percent APR completed on February 23 2019 and another 2 percent hike up to 3.5 percent APR expected to be voted on by March 8. A stability fee hike increases the cost of borrowing, encouraging CDP holders to buy Dai to reduce their positions. More buy demand increases the price, while the closing of CDPs simultaneously serves to reduce outstanding supply. Together, these actions should theoretically see Dai appreciate back to its $1 peg. In practice, it is difficult to know whether another 2 percent APR will have its desired effects. Indeed, stakeholders on the MakerDAO governance calls openly admit that the hike is arbitrary and experimental, and that additional hikes may be necessary. The problem lies with various extraneous factors that play into Dai supply and demand. Ether's appreciation provides existing CDP holders wider margins from which to draw Dai, and if Ether continues to rise in value, leveraging up should be profitable in spite of a 3.5 percent fee. Equally, Ether holders who don’t already have CDPs might be encouraged by the latest market movements to open positions of their own, thereby further contributing to an increase in supply. Further, MakerDAO stakeholders must consider Dai lending rates offered across platforms like

15 days ago

Samsung Galaxy S10 Arrives Sans Bitcoin, Only Ethereum is Supported

The internet was set ablaze when rumors began circulating that Samsung’s flagship smartphone, the Galaxy S10, may potentially support cryptocurrencies like Bitcoin and Ethereum via a Blockchain Keystore application. Samsung’s reveal event confirmed the existence of the Blockchain Keystore app that serves as a crypto wallet for top cryptocurrencies, however, the most important cryptocurrency of all won’t be supported at launch, according to initial reports from unboxing videos from around the web. Samsung Blockchain Keystore Neglects Bitcoin, Ethereum Support Ready at Launch The Samsung Galaxy S10 doesn’t officially drop for two more days on March 8, 2019, but some lucky smartphone enthusiasts have already gotten their hands on the final retail version of Samsung’s latest flagship smartphone. Those with early access to the Galaxy S10 have uploaded unboxing videos to demonstrate the phone’s key features - one of which is a new crypto wallet called Blockchain Keystore. Related Reading | Samsung Galaxy S10 Could Expose Crypto to Millions of Tech Savvy Users One particular video demonstration reveals that the Samsung Galaxy S10 will launch without supporting Bitcoin, the leading cryptocurrency by market cap and undoubtedly the most important asset in the crypto space. The app, however, does support Ethereum out of the box. Samsung Galaxy S10 crypto wallet appears to have left out Bitcoin at launch. For now it looks like it's Ethereum-only! https://t.co/j0eFmTphJY — CRN (@crn_maximizer) March 4, 2019 It’s not known at this time if ERC-20 tokens are further supported using the Ethereum wallet address. Many other crypto wallets prioritize Ethereum due to the same wallet address being used to receive Ether (ETH) in addition to a variety of ERC-20 tokens such as Basic Attention Token (BAT), 0x (ZRX), Maker (MKR), and hundreds more. However, the absence of Bitcoin is a glaring omission, as Bitcoin has the highest market cap out of any cryptocurrencies, has the most regulatory support, and the highest transaction volume. It’s also the face of cryptocurrency in the public’s eye. Bitcoin may eventually make its way onto the Samsung Galaxy S10’s Blockchain Keystore app via updates, and it may happen sooner than later. It’s not uncommon for smartphone manufacturers to debut their products on the same day a major software update is released. However, given the limited interest in cryptocurrencies by the general public, Samsung may not view further developing the app as a priority. Are Blockchain And Crypto Wallets The Next Big Trend in Smartphones? Blockchain-based smartphones that come equipped with a built-in cryptocurrency wallet is a growing trend in the space, as smartphone manufacturers seek to find a differentiating selling point amongst the sea of similarly functioning smartphones. Related Reading | Crypto Firm Pundi X Introduces Blockchain-Powered XPhone In addition to the Samsung flagship, the HTC Exodus has blockchain-based features that are separated from the Android operating system, while the newcomer Sirin Labs has recently released the blockchain-based FINNY smartphone, and Pundi X is preparing the XPhone for a Q2 2019 launch. It’s expected that as cryptocurrency adoption grows, other companies will follow suit, including Apple who has dominated the smartphone market since its inception. Featured Image from Shutterstock The post Samsung Galaxy S10 Arrives Sans Bitcoin, Only Ethereum is Supported appeared first on NewsBTC.

15 days ago

Huobi Adds XRP To OTC Trading

XRP can now be traded on the Huobi OTC platform. The asset went live at the beginning of the Singaporean working day, at 02:00 GMT. Traders can exchange the payments token against Huobi’s featured digital assets as well as twenty-five fiat currencies, including the U.S. Dollar and Euro. The exchange will charge a maker fee of between 0.2% and 0.7%. What is OTC Trading? Over-the-counter trades take place directly between a buyer and seller, without middlemen. Unlike the open market, where prices constantly fluctuate based on supply and demand, OTC allows high volume transactions with little impact on the rest of the market. Huobi announced the launch on Twitter yesterday. OTC users were already able to trade many of the largest cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Tether (USDT) and EOS. Exchanges in Huobi Token (HT) and the exchange’s HUSD stablecoin are also available. #Huobi OTC #announcement is now here!$XRP @Ripple will launch on #Huobi #OTC at 10:00 6 March. Details here: https://t.co/BsBc3KEN37 @bgarlinghouse #Ripple pic.twitter.com/cpCZjG0Cmv — HuobiGlobal (@HuobiGlobal) March 5, 2019 According to Livio Weng, Huobi Global’s CEO, adding XRP will help improve a “very important” part of Huobi’s trading ecosystem. “Huobi OTC is also our main platform for users who prefer peer-to-peer trading,” Weng said, in a statement. “The addition of Ripple is a big step forward in expanding our already extensive offering here.” Can OTC Trades Stabilize the XRP Price? There are two distinct types of OTC trading. Principal trading involves large-scale firms - like banks or other financial institutions - which set up trading desks that buy and sell round the clock. This creates a ready market for a particular asset, acting as an important source of liquidity that helps stabilize the price. The other type is known as OTC brokerage trading, which is facilitated by a matchmaker. Although these trades may seem straightforward, interactions between buyer and seller are complicated and prone to failure. The process can be long and arduous, with no complete safeguard against counter-party risk. As Crypto Briefing has previously reported, brokerage OTC trades almost always fail. Huobi’s OTC service is similar to a brokerage. It provides a platform for peer-to-peer trades, but is not a market maker. There’s nothing to stop buyers or sellers from shopping for the best prices, and Huobi itself does not provide liquidity. That’s good news for Huobi users, but it might not improve XRP’s liquidity in the long run. Illiquid markets cause prices to be more volatile, preventing individuals and businesses from adopting virtual assets as a currency. XRP is a payments token, which allows institutional clients to settle cross-border payments in seconds. Mercury FX, using Ripple Labs’ xRapid settlement solution, was able to send its first transaction to the Philippines yesterday. Remittance and settlements is one of the clearest use-cases for digital assets, as even JPMorgan recognizes. However, if history is any indication, the new addition to Huobi’s OTC service is unlikely to bring immediate gains for further adoption. The author is invested in digital assets, including BTC and ETH which are mentioned in this article. Join the conversation on Telegram and Twitter! The post Huobi Adds XRP To OTC Trading appeared first on Crypto Briefing.

16 days ago

Revenues on the Mend: Bitcoin Miners’ Gross Margins Grew 39% in February

Mining operations that process SHA-256 coins like BTC and BCH saw revenues slashed due to the bear market lows at the end of 2018. Revenues continued to fall into the new year, but over the last few weeks, network hashrates have been climbing again. A report published on March 4 details that even though mining profits dropped to a 19-month low in February, gross margins still grew by 39 percent. Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin The Silver Lining Cryptocurrency mining is a competitive industry and miners who process the SHA-256 consensus algorithm (BCH and BTC) have seen some deep losses in recent months. Despite the falling price last August, Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks’ combined hashrate surpassed 65 exahash per second (EH/s). On Dec. 2, 2018, BCH and BTC hashrates averaged less than 32 EH/s, losing half of their processing power from their all-time high. Since then, combined hashrate is now averaging roughly 45 EH/s with BCH capturing 1.25 EH/s of the total share. As far as profits are concerned, according to a new report by research publication Diar, miner margins are trending back into growth. Diar’s report details that BTC miner revenues dropped to a 19-month low, losing 10 percent overall this February. The research explains that BTC miners accumulated $295 million in fees alone in December 2017 but they are now gathering $195 million for both rewards and fees. Despite the downturn in BTC prices, gross margins still grew by 39 percent according to Diar research. Diar’s study adds that a slew of smaller operations have been “put out to pasture” and the researchers believe most of the equipment running has been at a loss. However, not all of the news is bad for the mining industry as gross margins increased quite a bit in February. “The increase in competition has also minimized gross margins from 94% at the start of 2018, down to 32% a year later,” Diar’s study details. “The silver lining, perhaps, is that gross margins grew to 39% in February.” Half of the Top BCH Miners Also Mine the BTC Chain Data stemming from Blockchain.com’s BTC hashrate distribution shows 14 decent sized operations processing the chain’s hash and 23 percent is captured by unknown miners. There are 13 pools mining the BCH chain and more than 10 percent of that coverage is also run by unknown mining pools. Bitcoin Core (BTC) hashrate is around 40.45 EH/s on March 6, 2019. At the time of writing, it is 0.7 percent more profitable to mine on the BTC chain and profitability differences between both ledgers have been fairly stable. Today six of the top BCH mining operations are also leading BTC pools as well. The slight spike in spot market price and gross margins has bolstered the distribution of hashrate significantly between both networks. Bitcoin Cash (BCH) hashrate is around 1.4 EH/s on March 6, 2019. Next Generation Miners Could Keep Operations Going The mining analysis by Diar details that now that gross margins have increased, mining operations can spend “capital expenditure on the latest mining equipment in order to stay ahead.” “Bitmain’s latest flagship miner that began shipping at the start of the year, the S15, has already sold out twice-over with the next batch set for shipment in April,” explains the study. “It is likely then that hash power continues to increase in the coming month’s bar a massive price drop — But at current Bitcoin prices, the capital requirements would still be to miners benefit with the S15 averaging 84% more return than its predecessor, the S9.” The five most profitable mining rigs on March 6, 2019. Other sources show that the top five next-generation SHA-256 miners are profiting by at least $0.25 to $1 a day. Mining rigs like the Ebang Ebit E11s, Bitmain’s S15, Innosilicon Terminators, and the Asicminer Nanos are pulling in small daily profits. Miners are hoping prices will increase because they have a lot of skin in the game and the 80-90 percent losses between both of the largest SHA-256 assets in existence has hurt them. While the boatloads of money from fees and the 2017 bull run is a distant memory, 39 percent growth in gross profits is likely to be received as a breath of fresh air. What do you think about miners’ revenue and hashrate showing some growth? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Asicminervalue.com, Diar Research, Blockchain.com, and Coin Dance Cash. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Revenues on the Mend: Bitcoin Miners’ Gross Margins Grew 39% in February appeared first on Bitcoin News.

16 days ago

No ETF Decision Yet, But Gemini-Backed Bitcoin Interest Account Is Live

Two high-interest Gemini-backed cryptocurrency accounts just came out — is this the beginning of the end for banks? A Bitcoin Bank Account Even the greatest proponents of Bitcoin tend to admit that the number one cryptocurrency is unlikely to replace banks anytime soon. However, it certainly has fiat currency in its sights. With the launch of two high-interest Gemini-backed cryptocurrency accounts in Bitcoin (BTC) and Ethereum (ETH), maybe the banks should be worried after all. BlockFi offering 6.2% on both BTC and ETH deposits changes the game. Will be interesting to see if/how centralized crypto deposit takers and lenders impact #DeFi volumes overtime. A thread: — Ryan Todd (@_RJTodd) March 5, 2019 For those investors who don’t mind a bear market and who want to HODL their chosen cryptocurrency, a 6.2 percent interest rate may be appealing. Perhaps it’s too early for the estimated 92 percent of Americans who don’t own cryptocurrency, though. Since the cryptocurrency market lost around $400 billion from its market cap in one year, high-interest rates on a dwindling investment may fail to appeal. However, the Bitcoin and Ethereum interest accounts were launched yesterday via BlockFi crypto lending platform. In its private beta in January, the company attracted more than $10 million in deposits from institutional and retail investors alike — showing a clear demand for its services. BlockFi also raised a massive $58 million in several rounds of funding, offering loans starting from $2,000 against BTC, ETH, or Litecoin (LTC) with a 4.5 percent interest rate. The company also has plans to launch a cryptocurrency-backed credit card. However, it’s the 6.2 percent interest on the Bitcoin and Ethereum accounts that will really capture attention. The average interest rate in U.S. bank accounts is less than 1 percent. A war will be fought between the smart contracts & the crypto banks for your precious crypto assets Smart contracts: Compound, Maker, Uniswap Crypto banks: Blockfi, Coinbase, Binance Best UX w/ highest risk-adjusted yield wins! https://t.co/GTjWjxa7DD — Ryan Sean Adams (@RyanSAdams) March 5, 2019 According to Forbes, BlockFi CEO Zac Prince enthused: BlockFi is the first crypto challenger bank. Bitcoin and crypto lending, especially to retail investors, is a nascent market... It has though been pushed on by institutional interest over the last year or so. The Winklevoss Twins Company Will Act as Custodians The Winklevoss twins’ Gemini trust company will act as account custodians. They may not have their Bitcoin ETF approved yet, but the brothers refuse to be left out of this growing market. The high-interest accounts will be available not just in the US but to investors worldwide. Clients can withdraw their funds at any moment. There’s no lock-up period if you find HODLing in the crypto winter is getting too stressful. After all, while the company insists the market is “nascent,” it’s also going through its longest bear market on record. That’s hardly going to be attractive for mom-and-pop investors right now. The BlockFi CEO is confident that things will turn around, however, stating that “Bitcoin will end this year higher.” While the bear market drags on, many investors are hopeful that institutional funds flowing into cryptocurrency are a good sign. 2019 will be the year that Bakkt and Nasdaq enter the market. Many hope that significant investment from Wall Street will boost cryptocurrencies to their glory days of 2017. The post No ETF Decision Yet, But Gemini-Backed Bitcoin Interest Account Is Live appeared first on Bitcoinist.com.

16 days ago

Starbucks BTC Payments & EY Launches Crypto Calculator

It’s only Wednesday but there is plenty of news to look through in the crypto space. Specifically, yesterday two news stories caught our eye, one on Starbucks and how they could be soon accepting Bitcoin and the other the faults in the EY cryptocurrency tax calculator. Holy Guacamole, it’s Bitcoin! Just imagine, you’re walking to work and pass a local Starbucks and decide you want a coffee to keep you going in the morning. Instead of paying with cash or card you can decide to buy your morning coffee with Bitcoin! Being able to buy your coffee with Bitcoin is but a crypto enthusiasts dream. If you could do such a thing, the mainstream adoption for the crypto space would be immense. There are more than 14,600 Starbucks locations across the United States and there are around 30,000 locations for the coffee giant across the globe. So if a company this size adopted Bitcoin, it would see a lot of the crypto community with a lot of smiles on their faces. Rumours surfaced a while ago about the potential adoption of Bitcoin payments by the American coffee company and when The Block came out with an article earlier this week, those rumours became all that more real. The article was in relation to Starbucks’ equity deal with the upcoming Bakkt crypto payments platform. They described the deal could “allow coffee-lovers to pay in-store” by utilising special software from Bakkt. The firm has given Starbucks received equity in as part of its terms. One of the spokespeople for Starbucks spoke to TNW and said: “Our role as the flagship retailer for Bakkt is to consult and develop applications for customers to convert their digital assets into US dollars, which can then be used in our stores. We anticipate that a range of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to constantly consider and offer customers new and unique ways to pay seamlessly, at Starbucks. As we continue to move forward with this work, we anticipate we’ll have more to share in the coming months.” This suggests that cryptocurrency adopters would be proposed to use a third-party intermediary system to “make purchases” using Bitcoin. In addition to this, it also notes the fact that Starbucks isn’t currently prepared to “risk” directly holding any digital asset. Instead, it will swap any digital currency it receives for fiat and then spit out the correct funds with traditional money. Essentially, Starbucks is a “flagship retailer” for Bakkt and its purpose is to allow users and firms to trade digital currencies and convert them into the fiat money too If the coffee maker allowed their customers to convert their cryptocurrency into fiat then that’s great but it isn’t the same as Starbucks accepting payments in cryptocurrency itself. Then again, you could argue that Bitcoin wouldn’t be able to handle the amount of business that Starbucks receives with real-time on-chain transactions. Even a small portion of the overall consumer rate for Starbucks could see Bitcoin overloaded with transactions. So maybe Starbucks won’t be accepting Bitcoin anytime soon. But there is potential there with Starbucks recent equity deal with Bakkt. Crypto Calculator In another crypto related news story that surfaced yesterday was EY launching their faulty cryptocurrency tax calculator. One of the biggest business service companies in the world is Ernst & Young and is classed as one of the “big four” accounting firms. The EY is seemingly getting ready to launch a tool to make the cryptocurrency bookkeeping that little bit easier. The creatively named “Crypto-Asset Accounting and Tax Tool,” also known as CAAT for short, is going to be soon rolling out the United States as a part of EY’s aim to become the leading blockchain-related services provider in the crypto sphere. This isn’t the first system that makes it to the market as one of the other “big four”. KPMG launched a similar tax calculator system for its clients in Australia in 2018. If you follow EY’s crypto announcements and details closely then this won’t come as much of a surprise to you, last year the company acquired the blockchain startup Elevated Consciousness which originally developed the CAAT software. In an announcement published in July last year, the business service firm stated that the tools will help to “methodically connect multiple cryptocurrency exchanges and wallets, allowing for better visibility into cryptocurrency transactions and inventory.” The reality though is that they are just that bit closer as EY has released the tool to a range of its clients. Primarily aimed at institutional investors that have some digital assets, it will eventually be made available to smaller clients that don’t trade as such high volumes when it comes to crypto. The report also says that CAAT sources “transaction-level information from virtually all major exchanges.” This is by collating all the information it can automatically generate tax re

16 days ago

XRP: Huobi Global Exchange to go live with XRP OTC

Huobi Global exchange announced on Twitter that XRP OTC will soon be available for its users. This is yet another step forward for Ripple’s XRP this year, after it was recently listed on Coinbase Pro. Huobi Global’s tweet on 5 March, 2019 read, “#Huobi OTC #announcement is now here! $XRP @Ripple will launch on #Huobi #OTC at 10:00 6 March. Details here: http://bit.ly/2VwKTPI @bgarlinghouse #Ripple” The OTC update will be available and accessible to users in 24 different currencies across the world, including USD, GBP, CND, CAD, EUR etc., with the maker fee varying for different currencies. The taker fee however, will be set at 0%. The OTC feature is scheduled to go live on March 6, 2019, at 10:00 [GMT +8]. Huobi Global exchange already accounts for 5.729% of the total XRP traded globally. It ranks eighth on the CoinMarketCap list and contributes more than $20.733 million worth of trading volume for XRP via trading pairs XRP/USDT, XRP/BTC, XRP/HT. Source: XRP Charts A Twitter user, @GAFO666 replied to Huobi’s announcement saying, “Nice but wrong logo, you show the company logo of Ripple, not the logo of XRP” @GermanCryptoGuy, a Twitter user commented, “Don’t sell it OTC. Sell it through the market, then everyone will benefit. :-)” @jaredandresonRE, another Twitter user replied, “Everyone benefits when its sold via OTC as well. Just takes longer to see. The more XRP that gets distributed the better.” Ripple has been working continuously to achieve its dreams of making global payment settlements easier via their proprietary technologies including xRapid, xVia, and xCurrent. xRapid leverages XRP, a fan favorite among the community and it is speculated that with the OTC update, wider distribution of XRP will provide more liquidity to the cryptocurrency. The post XRP: Huobi Global Exchange to go live with XRP OTC appeared first on AMBCrypto.

16 days ago

MakerDAO Users Vote on ‘Stability Fee’ Increase as DAI Stablecoin Peg Wobbles

Maker responds to market maker concerns about liquidity with new fee increase proposal

16 days ago


News courtesy of berminal.com
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