XRP (Ripple) XRP

$0.4730
Market Cap $ 19.047 Bn (#2)
24h Volume $ 871.518 MM
Chg. 24h: 2.45%
Algo. score 4.1/5  (#33)
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XRP (Ripple) News

Bitcoin Cash Price Slowly Drifts Toward $400 Following Network Split

It has been an interesting week in the cryptocurrency industry, although not necessarily for reasons one might expect. More specifically, the Bitcoin Cash price is getting battered, as that has everything to do with the hard fork and associated hash war. As such, one has to wonder if anyone is even winning based on the developments. So far, the “winner” remains unclear, and the future of Bitcoin Cash is anything but decided. Bitcoin Cash Price Continues to Decline No one should be really surprised to learn things are not looking too great for Bitcoin Cash in the price department. More specifically, there are a lot of things going on behind the scenes, albeit most of the developments are not necessarily heading in the right direction. With BCHABC and BCHSV fighting for control over the network, the future of Bitcoin Cash may look very different from what some speculators had envisioned initially. Over the past 24 hours, the Bitcoin Cash price has lost another 5.% in USD value and 4% over Bitcoin. Considering how the Bitcoin price is still in the red, it is only normal most of the altcoins are dragged down with it. For the time being, one has to wonder how long the Bitcoin Cash price can go moving forward, as a drop to $400 and potentially lower is certainly possible. Looking across social media, it seems evident there is still a lot of promotion going on behind the scenes. During the Decentralized 2018 conference, attendees received golden tickets to win up to $500 worth of Bitcoin Cash. This is organized by the same company forcing all of its miners to support Bitcoin ABC 24 hours after the fork. An interesting, albeit somewhat questionable approach. Wow! A #BitcoinCash airdrop at #Decentralized2018 Thank you @rogerkver pic.twitter.com/lrWeVK7XgU — Efi Pylarinou (@efipm) November 16, 2018 Some users are already looking beyond the hash war. Rather than having Craig Wright and Roger Ver compete for control, they should both get their own monikers. This would also remove any association with Bitcoin Cash itself, although it is a bit unclear who would maintain the BCH branch of development if something like this were to happen. Even so, it is evident a fair few BCH supporters are not amused by this spat in the slightest. I propose two monikers: CSW for #BSV and RVC (Roger Ver Coin) for #BCHABC.#Bcash #BCH #HashWars — zazazu (@___zazazu) November 16, 2018 The tweet by UKCryptogal only confirms there are plenty of people who couldn’t care less about which direction Bitcoin Cash heads in. In her opinion, it is all about XRP first and foremost, rather than this tug-of-war for control over Bitcoin Cash. Unlike BCH, XRP is effectively recovering some of its losses in spectacular fashion, which is something to keep an eye on. And the bear says.. The #BCH hash wars are over hello #XRP have a great day #xrpcommunity pic.twitter.com/Rzfw197aXx — ukcryptogal (@ukcryptogal) November 16, 2018 One also has to keep in mind the trading of Bitcoin Cash, as well as its deposits and withdrawals, are frozen across most trading platforms at this time. That only further indicates the speculation will continue to run wild, as no extra funds can be “recruited” to swing the markets either way. Additionally, there will be plenty of fork coin trading as well, especially now that the hash war has yet to be decided upon. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Slowly Drifts Toward $400 Following Network Split appeared first on NullTX.

an hour ago

Crypto Whale Moves $618 Million in Bitcoin, Plus Ripple and XRP, Ethereum, Tron, EOS, Bitcoin Cash: Crypto News Flash

From a multi-million dollar Bitcoin whale to Ethereum 2.0 and a unique new way to buy XRP, here’s a look at some of the stories breaking in the world of crypto. Bitcoin Whales are on the move in the wake of this week’s disruption in the Bitcoin and cryptocurrency markets, raising questions about potential big-time […]

an hour ago

Ripple Adds Another Banking Partner to Its Growing List, Malaysian Banking Group CIMB

Ripple is in the headlines yet again with another big banking partnership. Malaysian Banking Group CIMB, ASEAN’s (Association of…

an hour ago

XRP and Stellar (XLM) Continue To Thrive Amidst Market Turmoil

By now, the entire crypto-verse is aware of the crypto market turmoil that was ignited by the Bitcoin Cash (BCH) Hash Wars that are still ongoing. The two different camps aligned to Bitcoin Cash ABC and Bitcoin Cash SV have been blamed for causing the value of Bitcoin (BTC) to drop significantly in a time period of fewer than 48 hours. Further checking the charts, we find that the top ten coins have also suffered significantly save for XRP and Stellar (XLM). XRP and XLM prove resilient in current market conditions. Source, Coinmarketcap.com XRP’s Unique Situation The digital asset known as XRP has once again edged out Ethereum (ETH) from the number 2 spot and looks set to hold on to the position. The difference in market capitalization between the two assets now stands at around $639 Million. A few theories have been put forth as to why XRP is thriving amongst all the chaos. Firstly, the xRapid payment solution that uses XRP is up and running thus creating a constant demand for XRP in the markets. Further checking the 24 hour trade volume, we find that $1.245 Billion in XRP was traded yesterday, November 15th. The trade volume of XRP currently stands at $869 Million at the moment of writing this. To understand how the trade volume has increased since the Bitcoin Cash Hash War begun, the volume of XRP that was traded on Monday the 12th of November, was around $320 Million. Secondly, XRP has a thriving community actively supporting, using and trading the digital asset. The Canadian based Coinfield exchange has XRP as a base currency. We also have the XRP centric exchange known as XRP United. XLM Not Left Behind Further analyzing Stellar (XLM) we find that the digital asset is up 6.3% in the last 24 hours. A major driving force for this gain can be attributed to the pending listing on Coinbase. Many crypto traders are optimistic that XLM is the next digital asset to be listed on the prominent American exchange. With BAT having been listed 2 weeks ago, many believe XLM is only days away from an announcement from Coinbase. There is also the additional crypto traders theory that when XRP experiences some market action, XLM is sure to follow suit. In conclusion, we have observed that both XRP and XLM have continued to thrive as the rest of the digital assets are yet to recover from the effect of the Bitcoin Cash hash war. What are your thoughts on the gains observed by both XRP and XLM? Please let us know in the comment section below. Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post XRP and Stellar (XLM) Continue To Thrive Amidst Market Turmoil appeared first on Ethereum World News.

an hour ago

Ripple climbs to second place amidst the chaos in the markets

After the carnage that wrecked the markets with Bitcoin sinking to significantly low figures this week, the top three tokens in terms of market cap has seen a reshuffle. Bitcoin remains as the number one cryptocurrency, however, it fell below $5,400 USD which is a figure that has been unprecedented this year. The token has remained relatively stable for the last few months, hovering between $6200 USD and $6300 USD but has dipped to range around $5600 USD. At the time of writing, Bitcoin is selling for $5,622.11 USD with a market cap of $97,7 billion USD. While other tokens are seeing blinding red, Ripple is heading in the other direction. Snagging the second position, Ripple has knocked Ethereum into third place and is up in day-on-day trading by 3.73%. As seen below, Ripple’s XRP is yielding a market cap of $19 billion USD while Ethereum is bearing an $18,5 billion USD market cap. This is not the first time that Ripple has leapt up in position. In September of this year, the two cryptocurrencies were contending for the second position. Data taken from CoinMarketCap.com The crashing market and major sell-off has been attributed by several figures to the hardfork that Bitcoin Cash is going through. Meltem Demirors of Coinshares, for example, said that “[any] time there are hard forks things tend to trade weird and strange, so [she thinks] people are trying to take some risk off the table”. As reported yesterday, a very plausible reason for the Bitcoin plummet is the confusion and fear, uncertainty, and doubt (FUD) that is surrounding the controversial split of Bitcoin Cash which is driving price and leaving the market shaken. The post Ripple climbs to second place amidst the chaos in the markets appeared first on Coin Insider.

an hour ago

Ripple Price Analysis: XRP/USD Facing Uphill Task Near 100 SMA

Key Highlights Ripple price recovered nicely and moved above the $0.4500 and $0.4600 resistances against the US dollar. Yesterday’s highlighted key bearish trend line with resistance at $0.4660 was breached on the hourly chart of the XRP/USD pair (data source from Kraken). The pair will most likely face a strong selling interest near the $0.4860 and $0.4900 resistances. Ripple price managed to correct higher against the US Dollar and Bitcoin. However, XRP/USD is likely to struggle near $0.4900 and the 100 hourly SMA. Ripple Price Analysis Yesterday, we saw a nasty decline in ripple price below the $0.5000 support against the US Dollar. The XRP/USD pair broke the $0.4600, $0.4500 and even $0.4200 support. It traded towards the $0.4000 level and formed a low at $0.4020. Later, the price started a decent upside recovery and moved above $0.4500. Buyers managed to push the price above the 23.6% Fib retracement level of the last slide from the $0.5208 high to $0.4020 low. More importantly, yesterday’s highlighted key bearish trend line with resistance at $0.4660 was breached on the hourly chart of the XRP/USD pair. The pair is currently trading near the $0.4800 resistance. Besides, the 61.8% Fib retracement level of the last slide from the $0.5208 high to $0.4020 low is acting as a resistance. Above $0.4800, the main resistance is near the $0.4860 and $0.4900 levels. The 100 hourly simple moving average is also positioned near the $0.4920 level to act as a strong resistance. Therefore, it won’t be easy for buyers to clear the $0.4860, $0.4900 and $0.4920 levels. Looking at the chart, ripple price may perhaps consolidate in the short term above $0.4700. Finally, there could be an attempt to clear the $0.4900 resistance. On the downside, the key support is at $0.4500 followed by $0.4200. Looking at the technical indicators: Hourly MACD - The MACD for XRP/USD is back in the bullish zone. Hourly RSI (Relative Strength Index) - The RSI for XRP/USD is now above the 50 level. Major Support Level - $0.4500 Major Resistance Level - $0.4900 The post Ripple Price Analysis: XRP/USD Facing Uphill Task Near 100 SMA appeared first on NewsBTC.

2 hours ago

Ripple Price Analysis: Ripple Reclaims The Number 2 Ranked Position Ahead of Ethereum

Ripple has seen a solid 24 hour trading period as the rest of the market sinks. It has seen an increase in price totaling 3.40% over the last 24 hours as the currency now trades at the $0.4736 handle, at the time of writing. Key Highlights: Ripple has managed to weather the overall cryptocurrency storm. The project has recently taken over Ethereum to claim number 2 rankings. Support moving forward; $0.4702, $0.45, $0.4091, $0.3825, $0.3429, $0.30, $0.2478. Resistance moving forward; $0.50, $0.5317, $0.5933, $0.6378, $0.70, $0.7345, $0.7866, $0.8612 Ripple has succeeded in taking over Ripple in the number 2 ranked position in market cap rankings. It currently holds a $19.51 billion value market cap after the 63-month-old project sees a strong 90 day period as price action increased by over 32% The market is now trading at a value that is 86% lower than the all-time high price. Let us continue to analyze price action for Ripple over the short term and proceed to highlight any potential areas of support and resistance. Ripple Price Analysis XRP/USD - SHORT TERM - DAILY CHART Chart Source by Tradingview Analyzingg price action from the short term perspective above we can see that ripple had found a strong form of support at a downside 1.618 Fibonacci Extension level (drawn in red) priced at $0.2478 during September 2018. The market used this position to remain above the $0.25 handle. Toward the end of September, we had seen a meteoric rise when price action began at a low of $0.2528 and rose to a high of $0.7978. This was a total increase of over 210% from low to high. We can see that price action has since retraced from this high and has continued to decline until dinding support at the short term .786 Fibonacci Retracement level (drawn in green) priced at $0.3825. The market downturn rebounded from this level and started to rise to a high just above $0.50. We can also see that price action was relatively unscathed during the market collapse yesterday. Price action dipped to support at a low of $0.4091 provided by the downside 1.272 Fibonacci Extension level (drawn in red) before bouncing and closing back above $0.47. Moving forward, if the bulls progress to push price action higher within this market we can expect immediate resistance above to be located at the $0.50 handle followed by the .5 Fibonacci Retracement level (drawn in green) priced at $0.5317. Further resistance above this level can then be located at the .382 Fibonacci Retracement level priced at $0.5933. If the buyers can persist to push market action above the resistance at $0.63. handle we can then expect higher resistance to be located at the 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $0.7345 and $0.7866 respectively. The last level of resistance above to highlight is the 1.618 Fibonacci Extension level (drawn in blue) priced at $0.8614. On the other hand, if the sellers re-enter the market and push price action lower we can expect immediate support below to be located at the downside 1.272 Fibonacci Extension level (drawn in red) priced at $0.4091 followed by the .786 Fibonacci Retracement level (drawn in green) priced at $0.3825. The post Ripple Price Analysis: Ripple Reclaims The Number 2 Ranked Position Ahead of Ethereum appeared first on Coingape.

3 hours ago

Ripple Price Analysis: Will XRP Eventually Usurp Bitcoin’s Throne?

Yesterday XRP overtook Ethereum and claimed the #2 spot on CoinMarketCap. Is Bitcoin next? Market Overview It’s too early to determine whether the market has ‘recovered’ from yesterday’s unannounced slaughter. Despite this, analysts and savvy traders will be looking to see if any altcoins set a precedent by dislodging from the downturn caused by BCH and BTC. Perhaps as the BCH-ABC/BCH-SV civil hash war wraps up we’ll see a new leader emerge from the chaos? While XRP did take a knock during yesterday’s pullback, it wasn’t as extreme as BTC 00, and we feel like this warrants further inspection. XRP turned bearish, but it remains better situated when compared to its contemporaries. Bitcoin appears to be consolidating under $6,000 and perhaps a market-wide oversold bounce could bring the cryptocurrency and its neighbors above the most recently notched yearly lows but what is interesting is XRP’s possible dislodging from BTC. Daily Chart Last week XRP moved above an important barrier at $0.50 and topped out slightly above $0.55. This was a significant achievement considering that XRP had been stuck in the $0.40s for about 18-days. In mid-September, XRP traded near $0.26 and a slew of frequent partnerships, adoption announcements and possible accumulation by institutional partners appear to be supporting the gradual price increase. It’s clear that XRP followed the general direction of the market and sharply declined from $0.51. There are support levels at $0.460 $0.44 and $0.40 and former supports at $0.50 $0.486 are now acting as resistance. XRP spent the day consolidating toward the 23.6% Fib retracement level at $0.46 and the 50% Fib level has served as a rejection point. The current outlook remains bearish but given the strength of the mid $0.40s supports an entry near $0.41 to $0.43 could possibly turn a quick profit if the market bounces back over the next week. Stoch and RSI still angled down with the Stoch dipping into oversold territory but given the oversold state of the entire market, this setup appears less extreme when compared to BTC and ETH. XRP appears to be dislodging from BTC and analysts are already attempting to determine which tokens will lead the market forward in the event of continued malaise from Bitcoin. Regardless of one’s personal philosophy regarding centralization and decentralization, XRP has held fairly steady while other tokens were crushed during this week’s surprise correction. Day traders will probably find the $0.43 to $0.50 range quite lucrative. [Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for analysis are provided by TradingView.] Why do you think XRP will quickly rebound to $0.50? Share your thoughts below! Images courtesy of Shutterstock, Trading View. Market data sourced from Bitfinex. The post Ripple Price Analysis: Will XRP Eventually Usurp Bitcoin’s Throne? appeared first on Bitcoinist.com.

3 hours ago

South Korean ‘Blockchain Special Committee’ to Establish New Blockchain Hub

40 international and South Korean experts have banded together to form the Blockchain Special Committee that will establish a blockchain hub in South Korea’s North Gyeongsang Province, also known as Gyeongbuk. Blockchain hub As reported by local media outlet Daily News, members of the association will be tasked with deliberating and consulting on the creation of “mid-to-long-term strategies” that will foster the blockchain industry. The committee is to be co-chaired by the vice governor of Jeonbuk Province­­ and a member of the Korea Centre for Blockchain Research, Seongho Park. Among the ranks are 21 overseas members with notable figures such as Bitcoin Foundation Board of Directors member Brock Pierce and President of the American Chamber of Commerce in Korea Jeffrey Jones, joining others from Ripple and R-Chain. The government of Gyeongbuk province had sent a “benchmarking team” to the world-famous crypto valley of Zug, Switzerland. Following the instructions as prescribed by Governor of Gyeongbuk Lee Cheol-Woo, the team has been building an international cooperation system and, finalized international business agreements with blockchain startup specialists from both Switzerland and Israel. Cheol-woo said, “In order to nurture the block-chain industry, we will work with the special committee composed of domestic and international experts to preemptively respond and establish strategies... Through the integration and investment attraction of new start - I will make it as a future growth engine.” Gyeongbuk Coin Prior to this announcement, this region had already begun its blockchain journey with plans to implement a digital currency that will replace a state-backed loyalty scheme known as the “Hometown Love Gift Card”. Dubbed Gyeongbuk Coin, the new token can be purchased on an exchange for South Korean won and spent at participating businesses. This will be done in partnership with Orbs, an Infrastructure-as-a-Service (IaaS) platform based in Israel that is touted as a third generation blockchain technology, something of which South Korean investors are keen to adopt. The government will issue KRW 100 billion (USD 100 million) worth of Gyeongbuk Coin each year, which is the same amount allocated to the previous payment solution. Infrastructure South Korea is firmly positioning itself as an active participant in the blockchain hype-cycle and has spent a great deal of 2018 developing public sector blockchain pilots, allocating significant funds to blockchain-related budgets, debating contentious cryptocurrency tax laws, among many other blockchain-related fascinations. What may prove to be the most telling moment of all this year for South Korea is the impending decision to lift the ban on initial coin offerings (ICOs); with fears of domestic startups suffering under the ban and consumer/investor security at either side of the debate, the decision which is due this month could change the face South Korean blockchain enterprises for better or worse. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post South Korean ‘Blockchain Special Committee’ to Establish New Blockchain Hub appeared first on BitcoinNews.com.

4 hours ago

Ripple Market Cap Overtakes Ethereum Amidst Market Shakeup

Amidst the turmoil in the cryptocurrency market, the order of dominance has also been shaken up. At the time of writing, Ripple is currently sitting in the number 2 spot by total market cap, ahead of Ethereum by roughly $700 million. The two well-known projects have been jockeying for the number 2 spot for the past several months as the bear market has persisted, and this recent drop appears to have given XRP the upper hand for the time being. It will be interesting to watch how this plays out over the coming days, weeks, and months as the crypto market attempts to regain its footing. (JF)

8 hours ago

Dogecoin (DOGE) and Basic Attention Token (BAT) Showcase First Recovery Motives

Following Bitcoin’s BTC last value plunge against the US Dollar, altcoins as traditionally acted similar to the leader’s performance and dived below major important levels which were supporting the prices for months now. Bitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red Per time of writing, the pair XRP is one of the only in the green out of the leading coins after its latest movements have raised questions if Ethereum is losing its second position by market capitalization to XRP once and for all. However, two coins which are taking center-stage very often lately: DogeCoin and BAT or Basic Attention Token, are welcoming a positive increase of 4.05% and 2.15% against the USD in the last 24-hours. With the move, both virtual assets are changing hands above the weekly declining trend that has taken over the market. Source: coinmarketcap Basic Attention Token radically improves the efficiency of digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users. It all happens on the Ethereum blockchain. - basicattentiontoken.org BAT has been designed to bring efficiency in the marketing and advertising industry. The digital token, BAT is exchangeable among publishers, advertisers as well as users. With the attempt to clear fraud, trackers and middlemen, the blockchain adoption in the marketing industry including similar projects to BAT which are being developed is rising on a higher scale day by day. Following Coinbase’s listing of BAT on Coinbase Pro, after being teased in the summer that the leading cryptocurrency exchanging platform is experimenting around with a few of the leading digital assets, Circle Invest declared that it is adding BAT. BAT is launching on Coinbase Pro! Starting at 1pm PT today, customers can transfer BAT into their Coinbase Pro account. Traders can deposit BAT, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/31wbi09uyx pic.twitter.com/2YC7xtOjuI — Coinbase Pro (@CoinbasePro) November 2, 2018 Latest Doge Salt Lending platform has announced that it is listing DOGE under collateral for loans via a medium post that was posted also on their official twitter handle. Such Wow. https://t.co/FQId8Tf9Dr pic.twitter.com/P1KDENmzPW — SALT (@SALTLending) October 19, 2018 The post Dogecoin (DOGE) and Basic Attention Token (BAT) Showcase First Recovery Motives appeared first on Ethereum World News.

10 hours ago

Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack

The bear attack on November 14 saw a lot of the cryptocurrencies crumble under the bear pressure which also coincided with multiple support breaks. Bitcoin [BTC] faced the bear’s first wave of attack, with the cryptocurrency plummeting below the all-time psychological support of $6000. At the time of writing, Bitcoin was still languishing below $6000 combined with its market cap going under $100 billion. Just prior to the drop, Jihan Wu, the Chief Executive Officer [CEO] of Bitmain had tweeted: “I have no intention to start a hash war with CSW, because if I do 9by relocating hash power from btc mining to bch mining.btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!” Another coin that shared Bitcoin’s fate was Cardano [ADA], which saw it crash to its lowest price point in over a year. Cardano was also in the news recently when the ADA team conducted an Ask Me Anything [AMA] session to talk about the reward schemes in their stake pools. One user asked about staking ADA using a Ledger hardware wallet and Raspberry Pi computer. To this, Jonne33, a Reddit user stated: “Once delegated you can put your ada on Ledger or even on a paper wallet. You don’t need to be online after that (ie you don’t need raspberry pi or something). Raspberry Pi can be used initially for accessing your Ada and delegating it via Linux Daedalus client (still in development) or via different light wallets which are popping up currently.” Ethereum [ETH] and XRP also felt the ripple from the price drop with XRP taking over Ethereum in terms of market cap. Both the cryptocurrencies witnessed double-digit weekly losses where Ethereum slid by 12% while XRP fell by a significant 18%. The post Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack appeared first on AMBCrypto.

13 hours ago

Brad Garlinghouse Said Ripple Aims to Overtake SWIFT

Ripple seems to be very bullish about its future. During an interview with Bloomberg TV, he mentioned that they do not want to co-exist with SWIFT. Indeed, he explained that… Continue reading "Brad Garlinghouse Said Ripple Aims to Overtake SWIFT"

13 hours ago

The Motley Fool examines Cryptocurrencies outside the top 10 in search of Explosive Growth

Many people were drawn to invest in cryptocurrency after hearing stories of moonshots and lambos. Investors who found coins before they climbed the market cap list experienced explosive gains. In many cases, the gains were over 1000% and made quite a few millionaires in the process. After the cryptocurrency market crashed hard early in 2018 and has been seemingly going sideways ever since investors are hungry for a bull market breakout. However many are now searching for the next wave of crypto coins and tokens that could be the breakout investments of 2019. The Motley Fool thinks it may be a smart idea to move away from the big boys like Bitcoin, Ethereum and Ripple and to look to coins outside the top 10’in market cap. The coins between 10 and 20 on the market cap list have experienced the same bearish conditions as the top cryptocurrencies and have been basically stagnant for a long time as well. “NEM and Zcash have climbed 21.6% and 9% in value over just the past 7 days according to Investing.com, while all the others have fallen over what has been a poor week for traditional capital markets and cryptocurrencies alike.” Tron is an example of a cryptocurrency that is just outside the top ten that seems to be growing in awareness but not value. Binance’s BNB coin has shown to be stable and could be awaiting breakout as Binance continues to grow in user volume. Both of these assets could make moves to the top 10 before long. While in search of the biggest potential growers, investors must consider that the lower the market cap of the cryptocurrency they choose to get behind, the bigger the risk they are assuming. While the next millionaire-maker may be way down the market cap list, the market has clearly shown that cratering is just as likely as flying to the moon. According to the Motley Fool, it’s still more sensible to explore traditional investment channels and that “many investors would still prefer the reliable dividends of Commonwealth Bank of Australia (ASX: CBA) or Insurance Australia Group Ltd (ASX: IAG), over digital currencies any day.” Still, being aggressive could pay off big time because as the Fool says, “neither CBA or IAG are ever going to shoot the lights out in our lifetimes.” The post The Motley Fool examines Cryptocurrencies outside the top 10 in search of Explosive Growth appeared first on ZyCrypto.

14 hours ago

XRP receives official support from Coinbase Custody; Ripple logo represents the coin

Coinbase, the largest platform for cryptocurrency trading and other related services in the US has officially added XRP under supported assets for Coinbase Custody. However, despite Ripple, the blockchain remittance firm that created XRP, attempting to dissociate itself from XRP for the sake of decentralization, Coinbase has kept Ripple’s logo to represent the coin on its official website. During the last week of October, there was a buzz around the cryptocurrency space as the Department of Financial Services [DFS] of the United States announced its support for Coinbase to operate as a crypto-custody. After Coinbase received approval from DFS, it revealed the name of six big coins that would be added to its Coinbase Custody Trust Company program. The list comprised of Bitcoin [BTC], Bitcoin Cash [BTC], Litecoin [LTC], XRP, Ethereum [ETH] and Ethereum Classic [ETC]. Despite being one of the coins to make the cut for custody services, XRP has still not acquired a listing on the trading platform of Coinbase. Moreover, all the other five cryptocurrencies already continue to trade on the exchange. Skypilot_crypto, an XRP investor and cryptocurrency space enthusiast on the news stated: “Even though I do hope coinbase list xrp, when they eventually do I still won’t buy my xrp through coinbase. Why would I when I’ve been buying it through others all this time anyway? What would be the point? If Only They listed it sooner. Timing is everything and they are late” C3|Nik, the Twitter handle of another cryptocurrency and blockchain space follower also tweeted: “XRP is officially listed as a supported asset on Coinbase Custody. That does not imply trading support in the normal Coinbase App though.” On Coinbase using Ripple Labs logo, Michael Nardolillo, an XRP fan, stated: “With the wrong symbol lmao” The post XRP receives official support from Coinbase Custody; Ripple logo represents the coin appeared first on AMBCrypto.

14 hours ago

BitcoinNews.com Daily Podcast 14th November 2018, Nuclear Bear Market

Listen to the 14 November 2018 BitcoinNews.com Daily Podcast below. On this edition of the BitcoinNews.com Daily Podcast, we discuss the crash of Bitcoin’s price below the USD 5,800 support level, and the ongoing bear market. Hear about how Ripple has moved a lawsuit over whether XRP is a security to federal court. Hear about the first ICO in New Zealand. Follow the Bitcoin News Daily Podcast on Anchor, iTunes, Spotify, Google Podcasts, Stitcher, Radio Public, Pocket Casts, Overcast, Castbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world! Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Zachary, Bitcoin News The post BitcoinNews.com Daily Podcast 14th November 2018, Nuclear Bear Market appeared first on BitcoinNews.com.

14 hours ago

After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum

Bloodbath continues with Bitcoin dipping below $5,400 earlier today, Ripple sees slight gains and overtakes Ethereum as number two coin by market cap

14 hours ago

Market Value of Bitcoin Falls Below $100 Billion, First Time Since October

Bitcoin has fallen below the $100 billion market cap value, a figure not seen since it happened last October. Market Blood Bath The last 24 hours have not been good for the crypto industry. Yesterday, the market became a sea of red as prices dropped between 10-20 percent in value. Bitcoin, which has been trading within the $6,200 and $6,800 range for several months, saw its value drop to $5,600. However, it continues to fall in value. At the time of writing, it is trading at $5,572, according to CoinMarketCap. As a result, its market cap has also seen a decline in value and is currently worth $96.8 billion. The last time it was under the $100 billion mark was last October. The highest it has been was $328 billion in mid-December when it was valued within touching distance of $20,000. Today, that figure feels like a distant memory. According to a report, the downturn in market prices was down to the Bitcoin Cash hard fork due to take place today. Brian Kelly of BKCM LLC said he doesn’t think the “crypto civil war” will last. In a report, Kelly stated: When you do a software upgrade, everybody usually agrees. But in this particular case, everybody is not agreeing, so, we’ve got ourselves a ‘crypto civil war.’ People started selling. That triggered stops. Everybody got concerned. He added that the drop is only temporary and that his company “bought the dip.” Altcoins Down Too Across the board, altcoins are being impacted as well, far extending past the top 20 and top 50. Ethereum and XRP are battling it out for second place, with very little difference between them. Ether’s market value is currently priced at $18.3 billion, whereas XRP is listed at $18.7 billion. Ether has fallen below the $200 mark and is priced at $178, representing a 12.08 percent drop in 24 hours. XRP, which saw its price rise to $0.60 in September, is now valued at $0.46. It has experienced a decline of 9.07 percent in 24 hours. Despite the Bitcoin Cash hard fork, it hasn’t done anything to improve its value. Over a 24-hour period, it has fallen 11.48 percent to $414. Monero, in 10th place, has seen the biggest drop out of the top 10. With an 18.08 percent decrease in value, it’s currently worth $86. This is a far cry from its $470 price tag back in January. However, with the combined market cap worth $183 billion, it remains to be seen if and when market prices will rebound. Have you been impacted by market prices? Did you buy the dip? Let us know in the comments below. Images courtesy of Shutterstock. The post Market Value of Bitcoin Falls Below $100 Billion, First Time Since October appeared first on Live Bitcoin News.

15 hours ago

How Low Can It Go? Bitcoin Settles Below $5,600 as Altcoins Continue to Drop

Following yesterday’s widespread and significant drop across the entire cryptocurrency markets, Bitcoin has settled below $5,600, the lowest price it has seen this year, and many altcoins have continued dropping. At the time of writing, Bitcoin is trading down over 8% at its current price of $5,560, recovering slightly from its low point of $5,350, which as of now is BTC’s lowest price of the year. Bitcoin’s massive drop over the past couple of days has caused its market cap to fall below $100 billion to its current levels of nearly $97 million. Following the drop, trading volume has continued rising, likely signaling that further volatility could be on the way. Prior to dropping yesterday, Bitcoin’s trading volume was stable around $4.4 billion, but it has since nearly doubled to its current levels of approximately $8.7 billion. Altcoins Continue Falling Bitcoin’s drop has led to significant declines amongst the altcoin markets, with many coins trading down nearly 20% yesterday. At the time of writing, XRP is one of today’s best performing altcoins, currently trading up nearly 1% over a 24-hour trading period, with its current price showing relative stability at nearly $0.47. The recent drop has led XRP to lows of $0.43, from which it has recovered. XRP’s good performance despite the drop has allowed it to claim the coveted number two spot in the crypto markets from Ethereum (ETH), which is currently behind XRP’s market cap by approximately $300 million. Bitcoin Cash (BCH), is currently trading down over 5% at its current price of $430 despite today’s hard fork event. Clearly, investors are not that interested in the units resulting from this hard fork, as its price has been crashing ever since it reached highs of $635 in early-November. Donald Bullers, the North American representative for Elastos, a blockchain-based security service, explained that BCH’s hard fork event may be partially to blame for the crypto markets poor performance, saying to MarketWatch that: “Price volatility is not unusual in the crypto landscape—however, [Wednesday’s] dip is significant enough to prompt industry players to stop and take stock of the reasons why. It’s safe to say that Bitcoin Cash’s upcoming hard fork was stirring uncertainty amongst crypto investors, and forecasters across crypto and traditional markets alike have predicted a prolonged bear market heading into 2019.” Brian Kelly, cryptocurrency enthusiast and analyst, expressed a similar sentiment while speaking on CNBC’s Fast Money, saying: “When you do a software upgrade, everybody usually agrees. But in this particular case, everybody is not agreeing. So, we’ve got ourselves a crypto civil war.” Kelly further added that downward spirals tend to perpetuate themselves. “People started selling. That triggered stops. Everybody got concerned. And that’s what happened today — the entire market sell-down,” he said. It is likely that the recent market carnage has significantly hampered the chances of an end-of-year rally, and the persisting bear market may continue well into 2019. Related Reading: Tumultuous Crypto Market: Bitcoin Market Cap Finds YTD Low Under $100 Billion Featured image from Shutterstock. The post How Low Can It Go? Bitcoin Settles Below $5,600 as Altcoins Continue to Drop appeared first on NewsBTC.

15 hours ago

OKCoin Rolls Out Argentina’s Crypto Trading Platform as part of Latin America’s Expansion

The new venue offers trading between the Argentine peso and several digital coins including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Bitcoin Cash (BCH).

15 hours ago

Ripple (XRP) Overtakes Ethereum as Second Biggest Crypto By Market Cap

Ripple (XRP) has once again overtaken Ethereum by market cap amid ongoing cryptocurrency market turbulence and bearish sentiment. Only $100k Separates Ripple and Ethereum As data from Coinmarketcap confirms, Ripple’s XRP token is now the largest altcoin, losing less than Ethereum in the past 24 hours. As a result, ETH is now in the third-largest cryptocurrency, repeating what has become a pattern in 2018. As Bitcoinist previously reported, XRP last overtook ETH fairly recently on the back of rumored expansion of the token’s usage. While not directly affecting Ethereum, the Bitcoin Cash hard fork appeared to hit the asset particularly hard, ETH/USD 00 losing almost 15 percent versus Bitcoin’s 11 percent. XRP/USD 00 fell 9.2 percent, the difference in market cap between the two altcoins now just $100,000. No Cause To Celebrate The short-term success of XRP contrasts with the continued publicity battle Ripple has seen in recent months. As Ethereum developers forge ahead with major technical developments many have championed, Ripple appears mired in criticism of both its products and senior executives, who have delivered contradictory statements about the company. In October, CEO Brad Garlinghouse hit back at accusations the network was overly centralized. “I as the CEO of the company can’t control the XRP ledger. I can’t change a transaction,” he told Cheddar. “...I think there are a lot of people out there who are waging holy wars, they’re spreading misinformation - and they’re spreading misinformation because they have an economic interest in that.” Nonetheless, third-party interest in the token remains with news this week surfacing that Japan’s biggest bank wishes to use it as the basis for a cross-border remittance service to Brazil. Multiple financial institutions are currently considering the concept of Ripple-based remittances, with the company’s xRapid payment network also debuting with XRP as its means of exchange. What do you think about Ripple overtaking Ethereum? Let us know in the comments below! Images courtesy of Shutterstock, Bitcoinist archives The post Ripple (XRP) Overtakes Ethereum as Second Biggest Crypto By Market Cap appeared first on Bitcoinist.com.

16 hours ago

IMF's Deputy General Counsel: Asian Countries Are Eager to 'Unlock Benefits' of Fintech

Brad Garlinghouse, the CEO of Ripple Labs, recently discussed the potential “opportunities” blockchain technology and digital assets may offer to financial institutions that are part of the Association of Southeast Asian Nations (ASEAN). Garlinghouse's discussion involved comments from International Monetary Fund's (IMF) Deputy General Counsel, Ross Leckow, who said that Southeast Asian states...

16 hours ago

Despite the Bearish Market, Ripple (XRP) knocks out Ethereum to become the world’s second largest cryptocurrency

The last 24hrs in the world of cryptocurrency has been looming with dark clouds, which has now birthed a significant bearish storm over the majority of the top 100 listed tokens. However, in the midst of the massive shedding of gains, Ethereum saw this as an opportunity to make a momentous climb, even if it required knocking out its long-standing opponent for the second time this year. Shortly after Craig Wright declared war against Bitcoin miners, the bearish trends began to intensify, leading to an all-crypto-loss galore; Ethereum was the only cryptocurrency amongst the top three to shred as much as 14% in losses. The fight was strictly based on what can be termed “the survival of the fittest”, in that the Ethereum was still aimed at pulling itself upwards even at a trading price of $207 in the last two days as opposed to XRP which was already recording average price gains. Once the bears took total control and tossed Bitcoin down to the $5,000 range, its second all-time low of the year, the consequences became altcoins to bear. And Ethereum being the first altcoins to receive the blow, coupled with its recuperative state had fallen nearly twice as low as Ripple, who automatically moved upwards and has been sitting at the second spot up until the time of this writing. Ripple XRP had already been showing bullish signs two days ago when Ethereum fell by 2%. Both tokens were moving head to head with a market cap of $20 billion, Ripple looked ready to tear down the Ethereum whose market cap of $21 billion was just slightly above. At the time, XRP was trading at $0.520289, while Ethereum was at $207. As of this writing, Ethereum has lost over $30 and now trades at $177, while Ripple trades $0.457120. There still lies a huge possibility for Ethereum to reclaim its spot and make this a temporary comeback for XRP as it did in September. Considering the fact that Ripple’s market cap is totaled at $18.41 billion against Ethereum whose market cap totals at $18.32 billion, Ripple’s new position might just be a recap of its short-lived success in September, when Ripple’s market capitalization surpassed Ethereum by $3 billion. Ripple’s market cap was sitting richly at $26 billion, while Ethereum’s was at $23 billion. On the 6th of November, Ripple also beat Ethereum for a short period and lost its victory shortly after. The post Despite the Bearish Market, Ripple (XRP) knocks out Ethereum to become the world’s second largest cryptocurrency appeared first on ZyCrypto.

16 hours ago

Craig Wright Responsible for Bitcoin (BTC) Market Crash?

Craig Wright has been making headlines on tabloids for more reasons than his back and forth uproar with fellow Bitcoin Cash proponent Roger Ver. The Australian developer is notable for his consistency in pioneering Bitcoin Cash and publicly cursing or calling out a perceived opponent. Wright who severally referred to himself as Satoshi Nakamoto has laid open threats against Bitcoin miners, warning that any move to mine Bitcoin Cash ahead of the upcoming hard fork will lead to a refund using Bitcoin, a move which will indeed unleash a lasting bearish crisis on the big bull, as well as the rest of the entire cryptocurrency market. In a recent tweet, preceding a gif of a building falling in slow motion; suggesting the intensity of the possible market crash, Wright tweeted ; To all BTC miners... If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well... we think BTC market has no room... it tanks. Think about it. We will sell A Lot! Consider that.... And, have a nice day (BTC to 1000 does not phase me). Although the cryptocurrency market has been recording slight losses since the week began, the decline in trading prices of more than half of all the top 100 cryptocurrencies according to rankings from Coinmarketcap have intensified following Wright’s tweet, with Bitcoin dangling below the $6,000 mark for the second time this year Could this be linked to Wright’s tweet? Is he the cause of the bearish market? Developers and investors have since been throwing in endless comments, most of which are still in disbelief that Wright is the real Satoshi Nakamoto or even had anything to do with the current market volatility. Meanwhile, Wright is unfazed by the effects of the bearish market on Bitcoin Cash, even as this will threaten his chances of getting the needed support (in terms of trading volume) from traders upon the conclusion of the BCH hard fork which will result in splitting the already existing token to create Bitcoin ABC and his long-awaited token with the name “Satoshi Vision”. Wright had been on a continuous Twitter rant on for most of the week, mainly cursing at any potential threat who spoke against his vision for Bitcoin Cash. Roger Ver, whose disagreement with Wright concerning the future of Bitcoin Cash resulted in the decision of the soon to commence hard fork, had earlier disclosed an email that was supposedly sent by Craig Wright who was not impressed with the fact that Ver made a YouTube video questioning his identity as the self-proclaimed “Satoshi Nakamoto”. The mail had Wright declaring bankruptcy on the soon to arrive ABC Bitcoin token which Ver is backing his weight against. The mail read : If you want a war... I will do 2 years of no trade. Nothing. In the war, no coin can trade. If you want ABC, you want shitcoins, welcome to bankruptcy. It was nice knowing you. Bitcoin will die before ABC shits on it. I will see BCH trade at 0 for a few years. Will you? Side with ABC, you hate bitcoin, you are my enemy. You have fucking no idea what that means. You will. I AM Satoshi. Have a nice life. You will now discover me when pissed off. And, no. You Could have had proof. Your choice. Fuck you, Craig” As of this writing, the cryptocurrency market has fallen by a significant margin. Bitcoin has declined by 10.58%, with a trading price of $5,679. Ripple has also overthrown Ethereum The world’s second cryptocurrency, while Ethereum sits at the third position, losing as much as 13.6% as it trades at a price of $179.43. The post Craig Wright Responsible for Bitcoin (BTC) Market Crash? appeared first on ZyCrypto.

16 hours ago

XRP Price Analysis: Currency is Targeting $0.5, Can The Bears Lose Grip?

Supply zones: $0.46, $0.48, $0.51 Demand zones: $0.43, $0.41, $0.37 XRP/USD Medium-term Trend: Bullish XRP/USD is bullish in its medium-term outlook. The coin reversed from the uptrend as the doji candle ended the consolidation phase and a bearish engulfing candle formed which broke $0.51 price level downside. More strong bearish candles were formed which broke former demand zones of $0.48, $0.46 and $0.43 but the XRP price was pushed back by the bulls to $0.46 price level. The bears were in control of the XRP market. XRP price is trading below 21-day EMA and 50-day EMA with 21-day EMA crossed the 50-day EMA downside, which indicates the strong pressure of the bears, couple with the MACD indicator with its histogram below zero level and its signal lines pointing to the south indicates a bearish trend continues. XRP/USD Short-term Trend: Bearish On the 1-Hour chart, XRP/USD is also in bearish trend. XRP consolidated for some time within the range of $0.53 and $0.51 price level before eventually broke out from the lower side of the range. The bears pushed the coin to the south, down to $0.43 demand level with full force; this shown clearly on the chart with the formation of massive bearish candles. XRP price is already under the 21-day EMA and 50-day-EMA which indicate that downtrend is ongoing after pullback has been done and the MACD with its histogram is fading from above zero level gradually going down below zero level with its signal lines pointing to the south, an indication of a selling market. XRP is targeting $0.499 price level. The post XRP Price Analysis: Currency is Targeting $0.5, Can The Bears Lose Grip? appeared first on ZyCrypto.

16 hours ago

Ripple Basking New Partnerships Amidst Crypto Markets Falling

A renowned bank in the Asian region, CIMB Group which is headquartered in Malaysia is the next banking institution to partner up with Ripple. It’s no surprise that CIMB will be using Ripple’s cross-border technologies to help its money transfer service. CIMB Group is the fifth largest bank in the Southeast Asian Nations (ASEAN) and will be one of the first banks in the region to use Ripple’s modern technology which is a considerable boost to Ripple. CIMB is spread in 15 countries, with over 850 branches and more than 13.5 million customers. The bank will upgrade it’s current money transfer service called SpeedSend by enabling Ripple’s technology. Ripple’s good news does not stop there! It was officially listed on Coinbase Custody, which allows institutional investors to invest largely in XRP, Ripple’s native currency securely. ZeroCrypted Opinion The market is facing the worst scenarios as of now with most of the cryptocurrencies hitting their lowest this year. At the time of writing Bitcoin (BTC) is at $ 5,477.44, Ethereum (ETH) is at $174.27 while Ripple (XRP) is at $0.446636. All three major cryptocurrencies are seen facing a major slump. What needs to be noticed is the market capitalisation of ETH and XRP which is second and third placed in ranking. ETH’s market capitalisation is at $17,987,721,733 while XRP’s market capitalisation is at $17,986,818,940. The figures show that XRP is not far behind Ethereum to take over and with partnerships going at full force even when the market is down, portrays Ripple’s confidence in their technology. With an Asian market to showcase its technology and a listing in Coinbase Custody means a higher demand for XRP. The high population of Asia and institutional investors having more safety in getting in on the XRP action will result in an exciting few weeks ahead for XRP. Image Source - Flickr The post Ripple Basking New Partnerships Amidst Crypto Markets Falling appeared first on Zerocrypted - Your Daily Cryptocurrency News, Guides And More.

16 hours ago

Possível final do período Bear com a queda dos preços das criptomoedas?

Por: Livecoins De acordo com o portal de notícias Crypto Briefing, o final do mercado Bear pode finalmente estar no seu final com essa queda do último dia 14 de novembro nos preços das criptomoedas. No momento da queda, não houve suporte emocional, não houve suporte de preços, os touros desistiram de suas posições e apenas o desespero imperou no mercado cripto. De acordo com a avaliação do portal, o último banquete dos ursos foi nesta data, com ótimas guloseimas por preços atrativos, uma verdadeira Black Friday no mercado das criptomoedas. Para quem comprou no topo do movimento de queda sem colocar stop, não houve forma de sair da posição com o jeito sendo o hold a melhor estratégia, e com a liquidez no mercado diminuindo, os mais desesperados foram vendendo para sair o mais rápido possível e dessa forma o urso salivou. Com o caso, o mercado cripto perde muito do seu valor, da sua reputação e do seu fascínio, principalmente por quem está no mesmo por especulação e/ou é novo na área, e por consequência não conhece as suas raízes. O momento da reflexão vai começando por agora em um momento que 2019 é cada vez mais realidade e após um 2018 para ser esquecido, este capítulo é só mais um que divide os homens dos meninos, visto que a tecnologia de transações P2P segue a toda pompa, encarando os bancos de peito aberto. A queda, vista com olhos mais calmos, poderia ser dita como o valor que as pessoas dão na tecnologia Bitcoin, e mais do que isso, reagem ao desespero de mercado, não sendo detectada neste capítulo nenhum problema com o Bitcoin ou com a blockchain em quesito segurança. Para quem comprou na alta e perdeu dinheiro, tanto em dezembro de 2017 quanto em novembro de 2018, adicione mais kilometragens na busca pela compreensão sobre o mercado cripto, afinal o mesmo é novo e volátil e você pode perder todo o seu dinheiro investido, é o que sempre falamos e não deixaríamos de falar em um momento como esse, mas complementando, você tem a muito ganhar em relação a sua aprendizagem financeira e liberdade individual, afinal 1 BTC continua valendo 1 BTC. Para você que chegou até aqui e está pela tecnologia e ideologia, que já viu idiotas de Twitter se passarem por bons palestrantes, que já acompanhou uma série de fraudes, que acompanhou uma série de calúnias midiáticas, por querer ser livre e ter um mundo mais justo, continuemos a nossa caminhada nesse sentido, pois ainda estamos nos 10 primeiros anos dessa íncrivel tecnologia e muitas pedras graúdas vão aparecer no caminho visto que o Bitcoin possui inimigos e isso é um fato. No momento da escrita desta, o Bitcoin estava cotado em cerca de U$ 5.700 após chegar aos cerca de U$ 5.500, destaque que é a segunda vez em 2018 que o Bitcoin opera abaixo de U$ 6.000. Outra curiosidade, é que o XRP havia assumido a segunda posição do mercado por uma pequena margem e em breves momentos, largando o Ethereum para terceira posição, também no momento de escrita desta. É a segunda vez em menos de 1 mês que isso acontece, ficaremos de olho no top 10 do coinmarketcap e na dança das cadeiras. Fonte: https://coinmarketcap.com/ Fique a vontade para deixar nos comentários a sua opinião sobre este tema! Fonte: crypto briefing O artigo Possível final do período Bear com a queda dos preços das criptomoedas? apareceu primeiro em Livecoins.

16 hours ago

Ripple Partners with Leading Malaysian Bank on Cross-Border Payments

Leading Malaysian bank has partnered up with technology company Ripple to use its xCurrent technology in settling cross-border transactions. Another One Joins the Ripple Train CIMB Group Holdings, a leading Malaysian bank with over 1,000 branches across the region of Southeast Asia, has partnered up with technology firm Ripple. According to a joint press release, the bank will be using Ripple’s xCurrent technology in its SpeedSend remittance product and will join Ripple’s network - RippleNet, which will facilitate the access to other members and will allow CIMB to further grow and improve its cross-border payment endeavors. Speaking on the matter was Tengku Dato’ Sri Zafrul Aziz, CEO at CIMB Group, who noted: We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionise international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN. Increased Adoption According to Ripple’s CEO, banks and other financial institutions are increasingly starting to lean towards blockchain technology because of its advantages: We’re seeing banks and financial institutions from across the world lean into blockchain solutions because it enables a more transparent, quicker and lower cost payments experience. Indeed, Ripple seems to be adding more and more financial institutions to its RippleNet. Just a few days ago, Live Bitcoin News reported that the company has signed a Memorandum of Understanding (MOU) with Banco Bradesco S.A. to power up a new international payment corridor between Brazil and Japan. In October, multinational commercial bank and financial services company Banco Santander said that it will be using RippleNet to settle the payments carried out through its OnePay FX platform. What do you think of the increasing number of financial institutions using Ripple’s technology? Don’t hesitate to let us know in the comments below! Images courtesy of ShutterStock The post Ripple Partners with Leading Malaysian Bank on Cross-Border Payments appeared first on Live Bitcoin News.

16 hours ago

Nexo Now Exploring xRapid after Supporting XRP as Collateral for Crypto-backed Loans

After supporting XRP as collateral for crypto-backed loans, Nexo, the world’s first instant crypto-backed loans provider is exploring xRapid. Recently, Ripple partner TransferGo also admitted looking into xRapid. Instant crypto-backed loans provider Nexo Looking into xRapid Nexo, a new platform that offers the world’s first instant crypto-backed loans is exploring another of Ripple’s products called xRapid. It was revealed when XRP enthusiast, EDadoun asked Antoni Trenchev, co-founder and managing partner at Nexo, “It’s really exciting to see the work and support that you guys are showing towards $XRP. Does @NexoFinance have any intention of adopting $XRP usage, either directly or via @Ripple products, beyond its current loan/collateral functionality?” As Trenchev asked further clarification, “Can you clarify exactly what you mean by XRP usage via Ripple products?” EDadoun specified in part, “I’m referring to an XRapid or XVia integration.” To this Trenchev replied, “We have been talking to Ethan about Xrapid, will keep you posted.” Tweet in relevance is this, I’m referring to an XRapid or XVia integration. If I’m barking up the wrong tree then forgive me 🙂 I’m a big fan of the nexo project regardless! — ecent (@EDadoun) November 13, 2018 So, exploration and talks are definitely going on and we can expect Nexo getting involved in xRaid in the future as well. According to its website, “xRapid uniquely uses a digital asset, XRP, to offer on-demand liquidity, which dramatically lowers costs while enabling real-time payments in emerging markets. Built for enterprise use, XRP offers banks and payment providers a highly efficient, scalable, reliable liquidity option to service cross-border payments.” Recently, TransferGo replied on Twitter that it is looking into xRapid that already is in partnership with Ripple to provide its customers real-time money transfers. With the objective, “Don’t sell your crypto. Don’t lose the upside potential. Keep it and get an Instant Loan from Nexo,” the crypto backed loan platform supported XRP for the same just at the end of last month. The official announcement he shared at that time read, “XRP is the third largest cryptocurrency and is one of the fastest and most scalable digital assets, aiming to enable real-time global payments anywhere in the world. Nexo continues to push the boundaries within the crypto-lending space by becoming the first lender ever to start accepting XRP as collateral for crypto loans, thus providing an incredibly powerful utility feature to the cryptocurrency.” The platform already provides its services in more than 40 fiat currencies and over 200 jurisdictions. As for the security, it has partnered up with “SEC-approved custodian and Goldman Sachs-backed custodian,” BitGo that means clients can avail loans of up to $2 million per individual account. At the time of writing, XRP has been trading at $0.50 with 24-hours loss of 4.39 percent. The $20 billion cryptocurrencies is constantly adding clients and exchanges to its name. The post Nexo Now Exploring xRapid after Supporting XRP as Collateral for Crypto-backed Loans appeared first on Coingape.

16 hours ago

ASEAN Gets Instant Payments Boost As CIMB Group Joins RippleNet

The fifth-largest bank in the ASEAN region, the CIMB Group, has entered a strategic collaboration with American blockchain company Ripple. The two will work together to enable instant cross-border payments in all CIMB’s markets. The bank will join RippleNet, a network of over 100 financial institutions around the globe, which will help in redefining the global payments business of CIMB. Rising Ripple Footprint in ASEAN Ripple’s Singapore headquarters are doing a great job in keeping the company well planted in the region. CIMB is one of the first banks in the region to leverage blockchain technology for making low cost and quick international payments. The ASEAN region has historically been plagued with inefficient and slow payment systems, which provides a great opportunity for Ripple’s solutions to shine. According to the World Bank, the remittances to Southeast Asia will grow to a whopping $120 billion, a sizeable chunk in contrast to other geographic regions. Data from The Boston Consulting Group (BCG) suggests that the size of the cross-border payments market is $27 trillion. Between 2018-2026, another $20 trillion could be added to the valuation of these markets. About 39 percent of this market will be concentrated in ASEAN. Enhancing CIMB Products CIMB already works on a proprietary remittance product SpeedSend, which will be enhanced using the blockchain solutions from Ripple. The service allows customers to utilize instant cash collection and direct account crediting facilities. SpeedSend is enabling remittances to Australia, UK, US, and Hong Kong corridors. The CEO of CIMB Group, Tengku Dato’ Sri Zafrul Aziz said that the bank is delighted to connect to the RippleNet. He said: “This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN.” The Ripple solution will be extended to other use cases within the Group as well. Ripple CEO Brad Garlinghouse commented that financial institutions are becoming increasingly interested in using blockchain-based technologies for their businesses as they allow quicker, low cost and more transparent solutions. He noted that with its presence in 15 countries and about 800 branches, CIMB’s SpeedSend solution would help customers “send vital funds to family, friends and loved ones more efficiently. With its focus on innovation, CIMB will continue to be a dominant force in the region for years to come.” ASEAN Gets Instant Payments Boost As CIMB Group Joins RippleNet was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

16 hours ago

Ripple’s CEO Believes That the Blockchain Startup May Topple the Swift Banking Network

Ripple, a global payments network is currently in the process of expanding as they onboard new customers and financial firms. According to Bloomberg’s article published on November 15, 2018, Ripple’s popularity with financial institutions may one day overtake the Society for Worldwide Interbank Financial Telecommunication (SWIFT) banking network, as the blockchain-based company uses newer and more up-to-date technologies. Financial Firms and Banks Look to Ripple Brad Garlinghouse, Ripple’s Chief Executive Officer, mentioned to Bloomberg that SWIFT systems had been used by many banks, businesses, individuals to undergo cross-border money transfers. According to SWIFT’s website, the financial organization is currently based near Brussels and has over 11,000 customers in 200 different countries and territories. While the technology is currently the backbone of the international banking industry, the SWIFT platform was initially built in the 1970s. The half a century old system, therefore, has many problems and inefficiencies and fails to meet the needs of banks and customers today. “The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market,” said Garlinghouse. ”Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree. What we’re doing and executing on a day-by-day basis is, in fact, taking over SWIFT.” Ripple has leveraged this opportunity to use blockchain technology to create a more streamlined frictionless way to send money. Blockchain technology can remove the need for a centralized entity like SWIFT, because of its nature as a public ledger. It can enable the transferring of digital money without the need to go through several financial institutions and banks. According to the American Banker, cryptocurrencies and blockchain technology have great potential to overtake and replace the SWIFT system when it comes to financial transaction processing. Ripple Labs currently has over 100 payment providers and banks on their network. These banks include Standard Chartered Plc and Mitsubishi UFJ Financial Group. Ripple Denies SWIFT Integration Rumor According to PYMNTS.com, Ripple was recently involved in a rumor on the Internet concerning RippleNet’s integration with the SWIFT network last Tuesday on November 6, 2018. A SWIFT spokesperson, however, denied the rumor, mentioning that it was false. The improvements and upgrade to the SWIFT system is a just technical enhancement of the company which provides a tracking reference to financial transactions. Garlinghouse also confirmed in the Bloomberg article that the partnership is also false. The CEO of Ripple noted that their blockchain technology could overtake, the SWIFT network as the antiquated technology has failed to evolve. Ripple Partners with Malaysia’s CIMB Group Bloomberg reported on November 15, 2018, ASEAN’s leading universal bank, CIMB Group Holdings has entered into a strategic partnership with Ripple. The partnership enabled CIMB Group to gain access to RippleNet, the International Ripple Network, which will allow the company to grow their cross-border payments service. Source: Ripple Partners with CIMB Group CIMB Group will use Ripple’s blockchain technology in their SpeedSend remittance product, which is available in many Southeast Asian countries like the Philippines, Vietnam, and Thailand. According to the press release, Ripple’s blockchain technology will improve consumer access to cross-border remittances on an inbound level, to ASEAN countries and on an outbound level, to other countries in the world as well. “We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities,” said Tengku Dato Sri Zafrul Aziz, the CEO of CIMB Group. “The innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN.” While SWIFT believes that blockchain technology may not be necessary to aid the ever-evolving finance and banking industry, Garlinghouse sees a significant demand from banks and financial companies explore blockchain technology. He noted that blockchain provides a better user experience since it’s quicker, more transparent and is cheaper than the existing approach deployed by the SWIFT banking network. Ripple’s CEO Believes That the Blockchain Startup May Topple the Swift Banking Network was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

16 hours ago

Ripple’s XRP Now Largest Altcoin by Market Cap

Bearish movements took place across the cryptocurrency market yesterday as Bitcoin returned to sub-$6k levels. Ripple’s XRP is no different and is now on its third consecutive day of declines. XRP has managed to hold its value during this decline better than Ethereum and has now overtaken Ethereum as the largest altcoin in terms of market cap. XRP Overtakes Ethereum Yesterday’s decline brought the price of XRP from $0.5 to an intraday low close to $0.4. Price had since retraced to close around $0.46 but is continuing its drop today. The price is currently trading around $0.44, and momentum is firmly on the side of sellers. Both the RSI and the MACD are decreasing showing seller momentum. XRP Daily Chart - Source: Tradingview.com Price is more stable today for XRP, but the overall outlook remains bearish. An increase from here would likely meet numerous resistance points such as the hourly 50 EMA and $0.49 level in the event of a significant rise. With the overall market moving in a downward direction, there is likely a greater chance of XRP returning to $0.4. XRP traded all the way down to $0.29 around one month ago, so there is the possibility of XRP returning to sub-$0.4 levels Bitcoin Hourly Chart - Source: Tradingview.com Key Takeaways: XRP overtakes Ethereum to be the second largest cryptocurrency by market cap XRP dropped to near $0.4 yesterday but has since retraced. With strong seller momentum, XRP is likely to return near this point. XRP traded near $0.29 one month ago, so there is the possibility of XRP moving to sub-$0.4 levels. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset. Ripple’s XRP Now Largest Altcoin by Market Cap was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

16 hours ago

Thai SEC Issues Warning on Q Exchange

Thailand’s Security and Exchange Commission (SEC) has issued a warning to residents about Q Exchange stating that it is not “a licensed digital asset operator”. The SEC had said that Q Exchange offered electronic money advisory and cryptocurrency trading, through print media outlet and also by using social media and other forms of online media to facilitate publicity of their services. It was pointed out that the company had scarce online data, providing only an index page of the website, with no information about the exchange nor the services being provided. As reported by Thai local news media lokwannee, Q Exchange offers digital asset trading services in BTC, ETH, BCH, XRP, LTC, NEO, OmiseGo, DASH, and ADA. It had plans to introduce its platform token, Q token. The exchange may have targeted the Thailand market as blockchain business is taking a critical turn there both in terms of development and regulation. Chamnarn Suk, General Manager of Q Exchange Co Ltd, during the launch of the exchange had this to say: “We are a joint venture with a major Korean company. The best management system in the industry... We intend to be the largest provider of currency exchange and services in Thailand, where we will educate...” However, the Thai regulator has warned citizens that if investors, traders or holders of digital assets are “persuaded to receive digital asset exchange services or electronic money transactions”, they are at risk, as they are “not protected by the law under the supervision of the SEC”. This public notice has also been followed up with a cease and desist order, whereby the SEC has expressly informed the Q Exchange management to cease its enticements for public investment and instructed the company to take precautions against violations of the Digital Asset royal decree of 2018. On the subject of regulation, the country’s deputy prime minister, Wissanu Kreangam, is a strong voice for the intensifying of digital currency control measures, stating their vulnerability to being used for criminal activities such as money laundering and funding terrorism. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Thai SEC Issues Warning on Q Exchange appeared first on BitcoinNews.com.

16 hours ago

IMF Urges Consideration of National Crypto: Harness Benefits, Manage Risks

Reaffirming an open stance to the versatile application of blockchain technologies and digital currencies, International Monetary Fund (IMF) Managing Director Christine Lagarde has furthered the discussion surrounding the prospect of central bank digital currencies (CBDCs). She said that they should be considered and urged further discussion about the potential roles of central banks. Speaking at the Singapore Fintech Festival on 14 November 2018, Lagarde opened up to the audience about the disruptive nature of technological change and said: “The key to is to harness the benefits while managing the risks”. Crypto-race In her speech, she noted three areas for her address: the evolving nature of money and fintech development, central bank roles in the new financial landscape, especially regarding CBDC, and an examination of downsides and steps toward mitigation. Noting the larger names in the space such as Bitcoin, Ethereum and Ripple, Lagarde believes that cryptocurrencies are seeking a firm position in the “cashless world” and are “constantly reinventing themselves” as they hope to seek more legitimate grounds through stable values, as well as cheaper and faster transaction settlements. CBDCs According to Lagarde, e-money providers consider themselves to be less risky than banks due to the fact that they do not lend money and that cryptocurrencies are seeking to “anchor trust in technology”. However, she remains skeptical and retains the belief that “proper regulations of these entities will remain a pillar of trust”. Lagarde published an article earlier this month (November 2018) that established the case for regulations that don’t stifle innovations, offering a balanced argument for and against cryptocurrencies. After revealing the latest IMF paper named ‘Casting Light on Central Bank Digital Currencies‘, one that covers the pros and cons of the concept, Lagarde said, “We should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.” Key points Firstly, she argued that CBDCs may offer “great promise” in the area of financial inclusion; at their core, cryptocurrencies are capable of reaching any corner of the globe with a computer and an internet connection, thus providing rural areas populated with individuals and businesses with a robust financial tool. Efforts to connect unbanked rural areas to the national financial network are already underway in the Philippines. Secondly, she discusses digital currency in the context of security and consumer protections; suggesting that just as the introduction and subsequent dominance of cash (paper and coins) provided a low-cost and widely available solution, digital currencies can also do so. She said: “Regulation may not be able to fully redress these downsides. A digital currency could offer advantages, as a backup means of payment. And it could boost competition by offering a low-cost and efficient alternative — as did its grandfather, the old reliable paper note.” Lagarde sees digital currencies as having a third potential benefit which is privacy, though she also argues that banks would not be ready to offer a fully anonymous digital currency due to it creating a “bonanza for criminals”. Lastly, she lists three downsides to CBDCs: Financial integrity risks, financial stability, and risks to innovation, areas that have also been questioned by other institutions around the world including the Bank of England. Conclusively, Lagarde looks optimistically toward the future and “more fundamentally”, retaining an open mind to change. She said, “In the world of fintech, we need to harness change so it is fair, safe, efficient, and dynamic.” Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post IMF Urges Consideration of National Crypto: Harness Benefits, Manage Risks appeared first on BitcoinNews.com.

16 hours ago

OKCoin Adds the Argentine Peso as It Eyes Expansion Into Latin America

Despite a prolonged cryptocurrency bear market and regulatory uncertainties, OKCoin, one of the largest cryptocurrency exchanges in the world, is expanding to Latin America launching a new exchange platform headquartered in Buenos Aires, Argentina.Already active in 110 countries and 21 U.S. states, OKCoin USA CEO Tim Byun told Bitcoin Magazine that he is not worried about market volatility as they launch on a new continent:“Overall, we are very bullish on the cryptocurrencies markets throughout the world and in Latin America in particular. The growth might not be perfectly linear, but we fundamentally believe in the potential of cryptocurrencies to fix what ails many of the infrastructure problems that ail the global economy.”Launching today, November 15, 2018, OKCoin will allow traders in Argentina to deposit Argentine pesos (ARS) in exchange for cryptocurrencies, including bitcoin, bitcoin cash, ether, ethereum classic, litecoin, ripple, ada, stellar, zcash and 0x, with more being added soon. OKCoin plans to begin its expansion by opening an office in Buenos Aires and then building up a team to support its business throughout Latin America. Other Latin American fiat currencies will be added in the coming months. Why Argentina? “There is a huge opportunity within Latin America and Argentina, in part because traders in the region are extremely savvy and in part because the Argentine peso has experienced a lot of volatility,” Byun explained.“As the value of Argentina’s fiat currency remains uncertain, consumers there are looking for other options to invest in currencies that are not backed by any central bank or hard asset.”In a recent study of the top cities in the world for bitcoin adoption, the authors found that Buenos Aires had the 8th highest adoption rate in the world, making it the leading bitcoin city in South America.Buenos Aires has 130 merchants accepting bitcoin and three bitcoin ATMs in a city of 2.9 million people that is struggling with the volatile peso and a 32 percent yearly inflation rate. Argentina is also known as one of Latin America’s top destinations for software development, with blockchain startups like CoinFabrik that offer blockchain development for other startups.RSK Labs is also active in Argentina’s blockchain development ecosystem, creating Rootstock, a smart contract platform connected to the Bitcoin blockchain. RSK recently partnered with the Universidad de Buenos Aires (UBA) to offer courses in blockchain technology as part of the university’s Information Engineering program. OKCoin and SecurityOKCoin says it puts a premium on the importance of security and calls it “the core and center to our business.”They told us they have assembled one of the industry’s largest teams of security and fraud experts to stay ahead of hackers, and, since its launch in 2013, the company has developed a sophisticated system of security measures to handle new challenges like its Latin American expansion.Byun added: “Preventing hacks is one of the most important roles for an exchange like ours, and we are proud to report that in the five years since our launch, our exchange has never been hacked, not even once.” Minding Their Regulatory P’s and Q’sThe Argentine Parliament recognizes cryptocurrency as property, not as currency, so currently, the exchange of coins is legal. The Argentine government permitted the installation of 200 bitcoin ATMs in October 2017.Byun comes to OKCoin with U.S. experience in risk and compliance with the FDIC (Federal Deposit Insurance Corporation) and the Federal Reserve Bank of San Francisco.In the U.S., at least, OKCoin says all its regulatory ducks are in a row and it is properly registered as an MSB (Money Services Business) with FinCEN (Financial Crimes Enforcement Network). Byun concluded by encouraging the crypto community to keep on innovating:“It’s been remarkable to witness the tremendous amount of creativity and ingenuity being poured into the market. We believe the combination of the internet and blockchain technologies will create a whole new paradigm of applications and use cases. As such, we will continue to look for the best and the hottest cryptocurrency projects to list on our exchange.” This article originally appeared on Bitcoin Magazine.

16 hours ago

Bitcoin Break to $5,600 is Good For Crypto, Says Major Investor

Bitcoin price tanked more than 10 percent on Wednesday after months of low-volatile action. As the market prepares for further slides, a prominent investor believes that Bitcoin breakdown is good for the crypto space. Travis Kling, chief investment officer at Ikigai crypto-assets management firm, said in his tweet that Bitcoin downtrend should induce more capitulation in down market cap names. As a result, traders could stop speculating on them soon, and put their trust back on Bitcoin. “BTC holding in was giving folks hope to hold on to their shitcoin bags for a broad-based pump that won’t come,” Travis added. “Let them go.” Bitcoin’s price crash mirrored an overall sentiment of the crypto market. The digital currency’s closest competitors, namely Ethereum, Ripple, EOS and Bitcoin Cash, each fell drastically, contributing to an overall $26 billion loss to the crypto industry. The market witnessed declines in the lower-end coins as well, as highlighted in the Travis Kling’s comment above. Meltem Demirors, chief strategy officer at CoinShares, a crypto investment firm, believed that “these assets” didn’t see much trading in their respective markets. She told CNBC that a majority of crypto projects - that are not Bitcoin - were in some “liquidity crisis.” “What we see across the board is asset prices are down 75 percent or more, in some cases 95 percent,” Demirors explained while adding that they would eventually run out of money soon. “They’re going to need to start firing employees. They’re going to need to cut costs,” she predicted. “You’re going to see consolidation, and some of these assets, inevitably, will get marked to zero.” Short-Term Event The latest flash-crash looked accurately orchestrated as if a group willingly sold every asset off their table in a single selling order. Analysts are already theorizing hard fork of Bitcoin Cash as the main catalyst behind the volatile downtrend. Brian Kelly, chief executive at BKCM, an investment management firm, believed that the said software upgrade at most scared traders of potential slowdowns and chaos in Bitcoin and Bitcoin Cash markets. “People started selling. That triggered stops. Everybody got concerned,” Kelly emphasized. “And that’s what happened [on Wednesday] — the entire market sell-down.” If it is true, then the market has a potential to undergo a sharp pullback. The sell-off has left Bitcoin and other top coins at their yearly lows. It could allow both retail and institutional investors to enter the space at the bottom. At the same time, there is a prevailing sentiment that Bitcoin could form a double bottom at $4,500. It is the same reason why the upside corrections are looking weaker and signalling an extended downtrend. The leading exchanges, meanwhile, has confirmed that they would support the Bitcoin Cash hard fork to re-inject confidence in the market. It means that BCH owners will receive 1:1 per new cryptocurrency. It’s not a good time to sell, at least for Bitcoin Cash holders. Image from Shutterstock The post Bitcoin Break to $5,600 is Good For Crypto, Says Major Investor appeared first on NewsBTC.

16 hours ago

Tumultuous Crypto Market: Bitcoin Market Cap Finds YTD Low Under $100 Billion

After remaining stagnant at $6,400 for the better part of a season, Bitcoin (BTC) finally saw an awakening on Wednesday, as the now-1o-year-old crypto asset saw an influx of trading pressure. However, as many feared, this awakening, while powerful in its own right, wasn’t the one that many optimistic crypto investors were hoping for. Instead of breaking above the well-cited $6,800 line of resistance, BTC fell, collapsing under $6,000, then $5,800, and finally at $5,700, where the asset is approximately situated at the time of writing. Now, for the first time in over a year, the market capitalization of BTC has fallen under the level of psychological support at $100 billion. Seeing that this sell-side action came out of nowhere, surprising traders with their pants down, so to speak, consumers have sought to determine what catalysts sent bitcoin spiraling. The Bitcoin Cash Hard Fork Catalyst(?) After not covering the cryptosphere for weeks, CNBC’s Fast Money segment surprisingly brought on Brian Kelly and Meltem Demirors to discuss the potential factors behind crypto’s most recent downtrend. Crypto melting down today and @BKBrianKelly takes to the charts to get to the root of what exactly happened. pic.twitter.com/O6bAZ0O4Nm — CNBC's Fast Money (@CNBCFastMoney) November 14, 2018 Kelly, who has been the topic of light controversy in the past, drew attention to the upcoming Bitcoin Cash contentious hard fork. The BKCM CEO, who dubbed the Bitcoin ABC and Bitcoin SV debacle “a crypto civil war,” attributed this market’s most recent decline to concerns that BTC and BCH markets, along with the networks they represent, will under-perform as the hard fork comes to pass. Related Reading: BCH Fight: Bitcoin Cash Bashing Heats Up, Rivals Duke it Out Ahead of Hard Fork Andy Bromberg, co-founder and president of CoinList, echoed Kelly’s comments on the looming hard fork, telling the Wall Street Journal: “A single event, like a fork, can be a significant factor across wider crypto markets thanks to their relative immaturity... Large holders will often make trades across multiple coins, causing ripple effects beyond the asset that instigated the movement.” However, discussing the potential Bitcoin Cash “catalyst,” Mati Greenspan, eToro’s in-house crypto savant, begged to differ. Commenting in response to Bloomberg’s piece on crypto’s sell-off on Wednesday, Greenspan pointed out that the hard fork catalyst is invalid, alluding to his thought process that the reasoning behind the catalyst is evidently flawed. This sentence literally makes no sense... "Some traders speculated that investors may be leaving Bitcoin to raise funds to buy Bitcoin Cash after it splits in anticipation that each of the new coins will appreciate." — Mati Greenspan (@MatiGreenspan) November 15, 2018 NewsBTC’s Joseph Young made a similar comment, noting that BCH actually under-performing BTC, rendering Bloomberg’s claim false. Keeping this in mind, Charlie Hayter, the founder of London-based CryptoCompare, addressed Bitcoin’s most recent move lower with a bit more caution. More specifically, Hayter was hesitant to bring attention to a specific catalyst. Still, countering Crypto Rand’s recent call that the collective value of all crypto assets had broken out of a falling wedge, the CryptoCompare executive noted in a Reuters interview: “What you are seeing... is a breakout on the downside. Sometimes when things happen, it takes a while for the true reason to become clear - an exchange trade or regulatory action.” Related Reading: Prominent Analyst: Crypto Market is Undergoing a Clear Breakout Barry Silbert, the show-runner at New York-based Digital Currency Group, simply chalked this recent rut to a round of “capitulation.” In the eyes of some analysts, a phase of capitulation could be seen as a perpetuation of the bear market, but, others have claimed that these strong sell-offs could signal that BTC has bottomed. The bottom line is that everyone and their dog has different opinions about bitcoin’s recent move under $5,700, indicating that there were likely a number of stimuli, including the aforementioned, that beckoned the bears in. Even Nouriel “Dr. Doom” Roubini, the now-infamous NYU Stern professor that bashes Bitcoin incessantly, had something to say about the market’s most recent collapse, doubling-down on his anti-crypto sentiment. In a controversial tweet, which came just a few hours after BTC moved under $6,000, Roubini noted: “I could gloat about Bitcoin collapsing 10% in a day to $5700. But that is still some way to ZERO where Bitcoin belongs. Actually since Bitcoin is The Mother of All Toxic Pollutions & Environmental Disasters its true fair value is highly NEGATIVE with the right externality tax.” Although Robuini’s aforementioned bashing of Bitcoin isn’t a welcome sight, many analysts and industry leaders have maintained that the world’s first blockchain is poised to succeed in the years to come. As reported by NewsBTC previously,

16 hours ago

XRP Eclipses Ethereum, What is Next For The Major Cryptocurrencies?

In what has been one of the largest single purges of the cryptocurrency markets this year, Ripple’s XRP token has surpassed Ethereum in terms of market capitalization. The Bottom Just Fell Out Of The Bottom Just when we thought that things couldn’t get much worst and the bottom was in, the bottom fell out and markets nosedived again. Over the past 24 hours crypto markets have dumped almost $30 billion as they fell from around $210 billion to a 2018 low of $180 billion. The dust has settled at around $185 billion but the carnage in the altcoin camps is plain to see. Trade volume has doubled to $24 million but it is all flowing one way, out of the digital door. Ethereum’s loss has been Ripple’s gain as XRP has finally usurped ETH and taken the second spot on the market cap charts. Ethereum has been on the floor for weeks now but yesterday’s 16% slide sent its market cap below $18 billion for the first time since July 2017. The price of ETH plunged to match its 2018 low of $174 and it has failed to recover much from that level. Conversely XRP fell around 14% at the same time but has managed to make a better recovery making its total 24 hour loss around 10%. Before yesterday’s dump, XRP had made a gain of 15% on the month compared to Ethereum’s loss of almost 4% over the same thirty day period. As a result the market cap of XRP has not fallen as much which has pushed it into second place according to Coinmarketcap. At the time of writing XRP has a market capitalization of $18.4 billion compared to Ethereum’s $18.2 billion so things are still pretty close. Bitcoin has not escaped unscathed this time around as its market cap has dropped below $100 billion for the first time since October 2017. Aside from Ethereum and Bitcoin Cash, some of the biggest losers have been IOTA, Ethereum Classic, Cardano and Monero, all losing 16 - 18 percent. As new yearly lows are being hit, the crypto twitter-sphere is still dominated by Bitcoin Cash wars and more mudslinging. Some analysts have alluded to a big dump before bulls can get in, others called a Bitcoin bottom at $6k. Most have been wrong so far, so at this stage in the game it is largely guesswork. The crypto winter could well extend deep into 2019 and only the fittest will survive. Image from Shutterstock The post XRP Eclipses Ethereum, What is Next For The Major Cryptocurrencies? appeared first on NewsBTC.

16 hours ago

Coinshares Exec: Bitcoin in Financial Crisis, Altcoins in Liquidity Crisis

The jaws of crypto investors fell to the floor on Wednesday, as cryptocurrencies, such as Bitcoin, Ether, and XRP, plummeted to establish new year-to-date lows. Although some cynics feared this rapid bout of capitulation for months, for many investors, this strong sell-side pressure, which saw BTC fall under $5,800, came straight out of left field. To bring clarity to the precarious market conditions, CNBC Fast Money rebooted its crypto segment, which was on a multi-week hiatus, to subsequently call on Meltem Demirors to make a guest appearance. Crytpo's market crash could be the beginning of something bigger. @Melt_Dem says #crypto is in a financial crisis. pic.twitter.com/xBjikNwfth — CNBC's Fast Money (@CNBCFastMoney) November 14, 2018 Recent Bitcoin Crash Was A Result Of Institutions “Deleveraging” Demirors, who currently acts as Coinshares’ chief strategy officer, first drew attention to the multi-month non-action in crypto markets, highlighting BTC’s stability and failure to trade out of a range. She explained that this lack of volatility, coupled with a “number of events,” was likely the catalyst that led to this strong sell-off, which shaved upwards of $20 billion off the aggregate value of all digital assets. The most notable of these events, as Demirors speculated, was institutions and crypto-friendly hedge funds deleveraging their positions, or in other words, liquidating a portion of their cryptocurrency holdings. She added that Bitcoin Cash’s impending fork, which is slated to occur on Thursday, may have catalyzed wonky behavior in the market, likely referencing BTC’s peculiar price action during the original Bitcoin Cash hard fork on August 1st, 2017. Although her statements painted a dark picture for the cryptocurrency ecosystem, Demirors explained that the arrival of Bakkt’s physically-backed Bitcoin futures in December, along with the subsequent launch of Fidelity’s digital asset subsidiary, may be beneficial for crypto over the long haul. Still, the Digital Currency Group’s former vice president went on to note that Bitcoin is in a “financial crisis,” while altcoins are in a “liquidity crisis.” The latter situation, in Demirors’ eyes, is arguably worse, as she went on to point out that altcoin pairs have seen close-to-zero activity. Moreover, she added that the war chests of projects have begun to empty en-masse, indicating that a further sell-off for altcoins could be in the pipes as startups seek to cut costs, fire employees, and liquidate their crypto holdings. Although startups will make moves to stay afloat, unfortunately, the Coinshares executive noted that due to crypto being a “speculator’s game,” a number of altcoins will eventually collapse to $0. Interestingly, Demirors’ comments are somewhat coherent with the sentiment she put forth in her previous guest segments on Fast Money’s panel. In mid-August, the Coinshares executive alluded to the fact that crypto isn’t poised for a bull run. She first likened this industry to the Internet’s nascent years, before claiming that “new technologies that shift the paradigm,” such as cryptocurrencies and blockchain technologies, are neither fully understood nor adopted overnight. Related Reading: Crypto Prices Have Nosedived, But There Could Be a Silver Lining Regardless, at the time and during her most recent CNBC appearance, Demirors maintained that she sees long-term potential for this innovation. The industry insider previously explained that cryptocurrencies have a potential for a substantial move to the upside, drawing attention to Bitcoin’s prospects of replacing M1 and M2 (global money supply) and Ethereum’s ability to usurp the global market for computing capacity. Featured Image from Shutterstock The post Coinshares Exec: Bitcoin in Financial Crisis, Altcoins in Liquidity Crisis appeared first on NewsBTC.

16 hours ago

BCH Hash Wars: Ripple’s David Schwartz Had Warned the Crypto Community about Miners

As the Bitcoin Cash (BCH) Hash War continues to affect the crypto markets, Ethereum World News went back in time to see if such an event had been predicted and how it could have been avoided. In the process of going through our archives, we came across a piece written back in August about how the XRP ledger was more decentralized than both the Bitcoin and Ethereum networks. Based on a post written by the current Chief Technology Officer at Ripple (David Schwartz), it explained to the crypto community that the mining power of both Bitcoin and Ethereum was held by a select few. Flaws of Proof-of-Work in the Networks of Bitcoin, BCH and Ethereum In the informative post by David Schwartz, he explained that four mining groups controlled 58% of the Bitcoin network and three miners account for 57% of Ethereum’s daily capacity. He went on to add that: 80 percent of the mining on the Bitcoin blockchain is centralized in China, despite the country’s ban on digital assets. This puts it at greater risk of being manipulated by a single, sovereign government. Some experts even suggest that in a worst case scenario, miners of Bitcoin and Ethereum blockchains could use this to their advantage — conspiring to rewrite history on the blockchain through a 51 percent attack that results in verified transactions being unvalidated and allows for fraud to occur. Bitcoin Currently At the Mercy of Miners Although his comments did not refer to Bitcoin Cash directly, we can see the congruencies of his statements with the currently ongoing Bitcoin Cash Hash War. We can also conclude that David Schwartz had seen the possibility of miners rewriting the history of Bitcoin. With both camps of the dispute - Bitcoin Cash ABC and Bitcoin Cash SV - vowing to fight to the bitter end, hash power will most likely be redirected from Bitcoin to Bitcoin Cash thus undermining the BTC network and the value of the digital asset. The Illegality of Diverting Hash Power from BTC to Bitcoin Cash Craig Wright, who supports the Bitcoin Cash SV version, has pointed out the illegality of Roger Ver’s Bitcoin.com redirecting hash power to BCH. He did so via a tweet that stated the following: Please remember, the penalties for defrauding customers are a multiple of the amount taken. Please - let’s start to clean up this space, starting with http://Bitcoin.com When they re-direct your hash illegally, we will help you teach them a lesson Pre-Mined Coins and Consensus Protocols Look Very Attractive Right Now Proof-of-Work networks such as those of Bitcoin, BCH and Ethereum, thrive by incentivizing miners to validate transactions. In the case of the XRP ledger, its consensus protocol does not have such incentives and requires that 80% of the validators be online for 2 weeks to support a change on the network. The Stellar network also operates using a Consensus Protocol. The Tron Network uses Delegated Proof-of-Stake which uses a reputation system and real-time/continuous voting to achieve consensus. In the brief explanation of the networks behind XRP, XLM and TRX, we get a rough idea at how consensus protocols offer far better network stability than the Proof-of-Work protocols of BTC, BCH and ETH. As a result, the three coins of XRP, XLM and TRX might become the fan favorites of many traders and investors after the current hash war is over. What are your thoughts on the current Bitcoin Cash hash war? Please let us know in the comment section below. [Image courtesy of Ripple.com] Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post BCH Hash Wars: Ripple’s David Schwartz Had Warned the Crypto Community about Miners appeared first on Ethereum World News.

16 hours ago

Asia’s CIMB Group Joins RippleNet To Enhance Cross Border Payments in the ASEAN Region

The CIMB Group, which is headquartered in Kuala Lumpur and one of the largest banks in ASEAN (Association of Southeast Asian Nations), has partnered with Ripple to enhance instant cross-border payments across CIMB’s markets. The partnership involves CIMB joining RippleNet that consists of over 100 global banks and financial institutions. On the other hand, CIMB group has a wide retail network of over 1,000 branches in the ASEAN region. The group operates under several entities which include CIMB Investment Bank, CIMB Bank, CIMB Islamic, CIMB Niaga, CIMB Securities International and CIMB Thai. CIMB is one of the region’s first bank to embrace blockchain technology in a bid to increase the speed and efficiency of cross-border transactions in a region where such transactions have been traditionally slow. With the World Bank estimating the value of annual remittances to South East Asia to exceed $120 Million, CIMB group’s partnership with Ripple comes at an opportune time. The CIMB Banking Group’s remittance product called SpeedSend is powered by Ripple technology. It allows customers to send and receive money with direct account deposits and also using the traditional cash collection at their various branches. Brad Garlinghouse and CIMB’s CEO, Tengku Dato’ Sri Zafrul Aziz. Source, Ripple.com CIMB Group CEO, Tengku Dato’ Sri Zafrul Aziz, was very optimistic about the partnership and what the future held. We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN. Ripple’s Brad Garlinghouse, explained why this partnership was vital for the ASEAN region. We’re seeing banks and financial institutions from across the world lean into blockchain solutions because it enables a more transparent, quicker and lower cost payments experience. CIMB’s network already spans 15 countries, nearly 800 branches and offers Speedsend — one of the best solutions in the ASEAN region. Now, by integrating Ripple’s blockchain technology, they will enable their customers to send vital funds to family, friends and loved ones more efficiently. With its focus on innovation, CIMB will continue to be a dominant force in the region for years to come. What are your thoughts of Ripple partnering with the CIMB Group? Please let us know in the comment section below. [Image courtesy of Ripple.com] The post Asia’s CIMB Group Joins RippleNet To Enhance Cross Border Payments in the ASEAN Region appeared first on Ethereum World News.

16 hours ago

Ripple Price Analysis: XRP/USD Rebound Facing Crucial Resistance

Ripple price tumbled below the $0.4320 support against the US Dollar. XRP/USD tested $0.4000 and later recovered, but buyers are struggling near key resistances. Key Talking Points Ripple price declined heavily below the $0.4800 and $0.4320 support levels against the US Dollar. XRP/USD traded below a major contracting triangle with support at $0.4800 on the 2-hours chart (Data feed via Bitstamp). XRP price is currently recovering, but the previous support near $0.4620 is preventing gains. Ripple Price Forecast There was a sharp bearish U-turn in ripple price from well above the $0.5000 level against the US Dollar. The XRP/USD pair tumbled and broke the $0.4800 and $0.4320 support levels to move into a bearish zone. Looking at the chart, the price came under a lot of pressure after it broke the $0.4800 support and the 100 simple moving average (2-hours). Sellers took control and pushed the price below many supports, including $0.462. Besides, there was a break below a major contracting triangle with support at $0.4800 on the same chart. It opened the doors for more losses and the price even broke the key $0.4320 support. It traded close to the $0.4000 level and formed a low at $0.3999. Later, there was an upside recovery and the price moved above the $0.4200 and $0.4400 levels. Buyers pushed the price above the 23.6% Fib retracement level of the recent decline from the $0.5261 high to $0.3999 low. However, the previous support at $0.4620 is acting as a solid barrier for buyers. Moreover, the 50% Fib retracement level of the recent decline from the $0.5261 high to $0.3999 low is also near $0.4620 to prevent gains. Therefore, it won’t be easy for buyers to push the price above the $0.4620 resistance. The next key resistance is near the $0.4850 level, which was a major support earlier. Overall, ripple price is under a lot of pressure below $0.4620. If there is a fresh decline, the price could trade below the $0.4320 support once again and retest the $0.4000 support. The market data is provided by TradingView. The post Ripple Price Analysis: XRP/USD Rebound Facing Crucial Resistance appeared first on Ethereum World News.

16 hours ago

Ripple’s New Partner: CIMB Malaysia Join’s Ripple’s Cross-Border Payments

TL;DR Malaysia based CIMB Group has announced a new partnership with Ripple. The partnership will revolve around the use of Ripple’s xCurrent product, to improve and expand CIMB’s services in and beyond of ASEAN region. However, this service agreement will not be using XRP cryptocurrency as of now. Malaysia-based CIMB Group, which is one of the largest banking groups and money lenders in ASEAN (Association of Southeast Asian Nations) region, has just announced a new partnership with Ripple. The announcement states a strategic partnership between the parties while CIMB will get access to instant international payments, thanks to RippleNet. Ripple and CIMB partner up Ripple technology, in regards to cross-border payments, is sought after by numerous banks and financial institutions. Products like xCurrent and xRapid gained popularity lately as they allow nearly instant payment to be sent to any location where RippleNet exists. Following CIMB’s new partnership, Ripple will add Malaysia to their growing list of countries. Simultaneously, CIMB Group will use Ripple technology in order to improve its SpeedSend service. This service is similar to Western Union’s, and it was launched in 2011. However, while Ripple protocol is known for its association with its cryptocurrency XRP, its product xCurrent (which CIMB will be using) does not utilize the coin. CIMB Bank. Photo by Bloomberg Payment services slowly approaching blockchain technology The use of SpeedSend and similar services became quite popular due to their extended reach, quick service, and simplicity. CIMB will allow its customers to use this service to send money anywhere in Malaysia, as well as to all other locations where SpeedSend has a presence. Users will need to complete a simple form and present a verification ID in order to use the system. CIMB Group’s CEO, Tengku Dato’ Sri Zafrul Aziz, had recently stated that the company is “delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities.” According to Aziz, “this new solution will completely revolutionize cross-border payments and remittances, while it will also help to improve CIMB’s quick and cost-effective solutions.” Ripple’s CEO, Brad Garlinghouse, commented by saying that banks and other financial institutions have already developed an interest in blockchain and different solutions that it offers. Due to blockchain technology, all payments are cheaper, more transparent, and a lot faster than they have ever been. While CIMB’s network and service already include around 800 branches in 15 countries, integrating Ripple’s blockchain will allow them to establish their presence even stronger, and provide the best solutions in the entire ASEAN region. The post Ripple’s New Partner: CIMB Malaysia Join’s Ripple’s Cross-Border Payments appeared first on CryptoPotato.

16 hours ago

Bitcoin and the Overall Cryptocurrency Market Make a New Low for 2018

CoinSpeaker Bitcoin and the Overall Cryptocurrency Market Make a New Low for 2018 Wednesday, November 14, the crypto market witnessed one of the biggest carnage moments of 2018. The cryptocurrency market cap plunged by nearly 15% making its new 2018 low of $180 billion, according to CoinMarketCap. This market correction is widespread across the entire crypto market. It is visible that almost all of the top-twenty cryptocurrency have lost 10-12% of their price in the last 24-hours. After consolidating above the $6000 for the last few months, Bitcoin bulls finally lost the battle to the bears. In our weekly report, CoinSpeaker noted on Monday regarding the hovering bearish signs. Bitcoin (BTC) sharply slipped below the $6000 levels while attaining a new 2018 low of $5556. With this, the Bitcoin market cap has gone below $100 billion and is currently at $98 billion. However, Bitcoin still manages to have over 52% dominance in the cryptocurrency market. Just a few hours before the BTC price drop took place on Wednesday, a well-known crypto traded and technical analyst said that BTC showed weakness. “BTC looks pretty weak, this might be the first time I’m not buying $6,200 in quite a while. I’m just not trusting it to hold forever after getting battered for so long. If it does break, alternative cryptocurrencies will suffer hardest,” he said. Reason Behind the Bitcoin Price Fall Several popular analysts believe that the latest move in Bitcoin is purely technical. Mati Greenspan, senior market analyst at eToro says that “As far as I can tell this move is more technical in nature”. Blockforce Capital CEO Eric Ervin also shared similar perspective. In a word with Forbes, Ervin said that “the recent price plunge is a cause of purely technical moves.” “The significance of the $6,000 support level shouldn’t be understated. As the bear market has trudged along these past few months, that level has held steady,” he noted. As a result, “many investors have come to see it as a stop-loss measure. This would explain the large amount of liquidations that have occurred.” “Looking forward, today’s price drop may be a blessing for the asset as it could help push the market to a bottom, after which it can bounce back,” added Ervin. Victor Dergunov, founder the Albright Investment Group, wrote the following in a blog post with The Independent. “This is not the first time bitcoin has seen calm waters. We’ve seen similar periods of modest volatility, and humble price swings. Primarily, similar low volatility phenomenon have occurred in the very late stages of bitcoin bear markets [whereby prices fall as investors sell]. Everyone seemingly loses interest, volume dries up, news flow quiets down, and then, when you least expect it, the next bitcoin bull market begins [whereby prices rise as investors buy].” FUD Caused By the Bitcoin Cash Hard Fork Along with Bitcoin, there were several other altcoins which were badly ailing. The first Bitcoin derivative Bitcoin Cash (BCH) was the worst performer. BCH lost are its last week’s gains and slumped by over 20% in a single day. BCH is currently trading at $444 with a market cap of $7.7 billion. Not to forget, Bitcoin Cash is undergoing a hard fork today. Several analysts believe that a lot of drama surrounding BCH’s hard fork is the reason behind the market fall. Joshua Frank, co-founder of cryptocurrency analytics platform TheTIE.io told Forbes that “There is a tremendous amount of FUD surrounding the Bitcoin Cash hard fork”. “It seems like there is a lot of confusion in the market as to what is driving price and who will emerge as the winner in the BCHABC vs. BCHSV fight,” stated Frank. We have seen this FUD and confusion in Twitter conversations. This is reflected by the fact that Bitcoin Cash has had sentiment volatility three times higher than any other major cryptocurrency over the last 24 hours and BCH’s tweet volume is 217% higher than its 20 day moving average.” XRP Topple Ethereum to Grab the Second Spot For the second time this year, XRP has surpassed Ethereum to become the second-most-valued digital assets after Bitcoin. Yesterday’s market collapse saw Ethereum (ETH) loosing over 12% of its price to fall below $200. Currently, Ethereum is trading at a price of $180 with a market cap of $18.6 billion. The XRP’s market cap leads that of Ethereum with a marginal value which is $18.7 billion. Although XRP too has lost nearly 9% of its price. All in all, the cryptocurrency market cap fell by $28 billion in a single day. At the press time, the overall crypto market cap stands at $185 billion. Bitcoin and the Overall Cryptocurrency Market Make a New Low for 2018

16 hours ago

New York Regulator Issues BitLicense to NYDIG For Custody and Trading

New York State Department of Financial Services (NYDFS) has approved cryptocurrency-related company NYDIG’s application for a digital currency license and a money transmission license. Bitcoin Custody Approved in New York State The NYDFS has formally authorized cryptocurrency-related company NYDIG to offer secure custody as well as trade execution services for several virtual currencies including Bitcoin Cash, Ether, XRP, and Bitcoin. With the newly issued BitLicense, the company is able to provide its customers with several custody options, which include engaging in self-custody, contracting NYDIG for custody services, or contracting a third party for custody services. Notes Robert Gutmann, CEO at NYDIG: NYDIG is pleased to receive these regulatory approvals and we look forward to providing secure and transparent liquidity, custodial and asset management services to the institutional market. We want to express our gratitude to the NYDFS for providing a clear and comprehensive regulatory framework for investors, providers and users alike to engage with the burgeoning digital asset ecosystem. BitLicense’s Controversy According to financial services Superintendent Maria T. Vullo, the NYDFS-issued BitLicense promotes innovation as well as a stronger fintech marketplace. Vullo: As the financial services marketplace continues to expand and evolve in New York, the implementation of strong regulatory safeguards that encourage the responsible growth of the industry, while first and foremost protecting consumers remains critical. Today’s approval further demonstrates that operating within New York’s robust state regulatory system leads to a stronger fintech marketplace and promotes innovation and necessary compliance with effective risk-based controls. However, BitLicense has taken more than one casualties throughout the years. The set of regulatory requirements was released back in 2014 and it caused the Bitcoin community to rise against it, as it seemed to have been particularly restrictive. One of the first casualties of BitLicense was the largest Bitcoin peer-to-peer marketplace LocalBitcoins, which halted services in New York State as the law made it virtually a crime to sell cryptocurrencies to NY state citizens without having acquired the license. What’s more, the man who spearheaded the BitLicense in 2015, Benjamin Lawsky, founded a virtual currency compliance consultancy firm after departing the NYDFS, has faced criticism for creating a conflict of interest, though Lawsky denied the accusations. Does the BitLicense pose a barrier to startups or provide regulatory clarity? Let us know in the comments below! Images courtesy of Shutterstock The post New York Regulator Issues BitLicense to NYDIG For Custody and Trading appeared first on Bitcoinist.com.

16 hours ago

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

CoinSpeaker OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso OKCoin, one of the world’s leading digital asset exchanges offering its services over 110 countries, announced today the launch of its licensed exchange platform in Latin America by offering fiat-to-crypto trading between the Argentine peso and several major cryptocurrencies. Starting today, traders in Argentina can deposit Argentine peso (ARS) in exchange for cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x, with more being added soon. Other Latin American fiat currencies will be added in the coming months. OKCoin plans to open an office in Buenos Aires and build up a team to support its business throughout Latin America. Tim Byun, CEO at OKCoin USA, said: “OKCoin is committed to opening up new markets for digital currency consumers throughout the world, and we are very excited to bring our safe, secure and licensed trading platform to consumers in Argentina. This is just the beginning of our Latin American expansion, as we’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence.” OKCoin already supports fiat trading for US dollars from users throughout the world. By adding the Argentine peso to its growing stable of fiat-based trading options, OKCoin signifies its commitment to bringing cryptocurrency trading to Latin American markets. The company plans to expand throughout Latin America and the rest of the world by supporting more local fiat currencies in the near future. OKCoin is a licensed exchange that enables consumers to buy and sell digital assets in a regulated, secure and compliant environment. The company expanded to offer fiat trading in the US earlier this year and recently added crypto-to-crypto trading for 20 United States. Today’s announcement comes as OKCoin prepares to participate in this week’s C20 Conference, which is billed as the world’s most important Spanish-language crypto conference, taking place November 16-17 in Buenos Aires. OKCoin is proud to be a main sponsor of the event and showcase its exchange platform to conference attendees at booth #17 in the expo. The company’s Latin American representative, Pablo Magro, will speak on “How to Buy Cryptocurrencies in Latin America” on November 17th at 2:10pm local time. Argentinian consumers can get started with fiat trading by registering for an OKCoin account at www.okcoin.com and completing the individual or corporate verification form. About OKCoin Founded in 2013, OKCoin is one of the world’s first and largest regulated digital asset exchanges. The company provides traders and institutions with a fiat-to-token and crypto-to-crypto trading platform for digital assets including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, XRP, Cardano, Stellar, Zcash, 0x and others. OKCoin’s mission is to eliminate trade barriers and improve transaction efficiency while complying with the highest regulatory standards in the US and the world. As a registered Money Services Businesses (MSB) with the Financial Crimes Enforcement Network (FinCEN). The company is headquartered in San Francisco, with offices around the world to serve its growing community and customer base. OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

16 hours ago

Ethereum [ETH/USD] Technical Analysis: Green flashes predicted amidst bear’s ambush

The cryptocurrency market is at the bear’s mercy at the moment, with blood splashed over all the big names across the board. Be it Bitcoin [BTC], XRP or Ethereum [ETH], none of the tokens have been spared in the ambush. At the time of writing, Ethereum [ETH] was showing a drop of 12.76%, trading at a depressed price of $180.9, with a market cap of $18.59 billion. The total 24-hour trading volume is $3 billion. 1-hour: ETHUSD 1-hour candlesticks | Source: tradingview In the one-hour timeline of the ETH candlesticks, a steep downtrend has been spotted that extends from $198.3 to $175.2. Multiple supports have been broken as the coin continued to depreciate, with the onset of the crypto-market crash from yesterday. The first major breach of support was seen when the coin plunged below $207.2. The current support has dropped down to $172, struggling to withhold the ETH prices. The Parabolic SAR is bullish on the upcoming price trend of the coin. The dots are aligned below the candlesticks to reflect positivity on the prices. The Awesome Oscillator is also flashing green on the price trend as the bars turn bullish on the price. The Chaikin Money Flow has agreed with the above indicators. Currently, the reading line is approaching an upward trend, traveling above the 0-mark. 1-day: ETHUSD 1-day candlesticks | Source: tradingview In the one-day price run, Ether is witnessing a downtrend from $456.6 to $209.9 while the support level at $182.8 was violated and is currently fixed at $177. A trend breakout is not visible as of now as there is no concentration noticed in the ETH market. The Bollinger Bands are showing heavy volatility in the price trend. The bands have taken a wide approach by expanding the horizons to a high degree. The RSI has hit the oversold zone and is currently preparing for a bullish prediction. This is evident due to the oversell activity in the market, which will lead in a reversal of trends. The Klinger Oscillator has made a bearish crossover by the signal line. The indicator is mercilessly crashing further to strengthen the rule of the bear. Conclusion In the technical analysis, it has been predicted that the token will experience high fluctuations in the upcoming period. Despite the dunk, the price trend has been suggested to go up and turn bullish soon by most of the indicators. The post Ethereum [ETH/USD] Technical Analysis: Green flashes predicted amidst bear’s ambush appeared first on AMBCrypto.

16 hours ago

Tron [TRX/USD] Technical Analysis: Cryptocurrency suffers massive bleed as bear tears down support

The cryptocurrency market crash on November 14 saw many coins break its support, leading to a massive sell-off by users. The price drop had a massive effect on major coins too, with Bitcoin [BTC]’s market cap falling below the $100-billion bracket and XRP overtaking Ethereum [ETH] in terms of the market cap on the cryptocurrency charts. Tron [TRX], which has been on a developmental spree of late, also saw its support crumble. 1-hour: Tron [TRX]’s one-hour graph paints a bleak picture with an acute downtrend. The drop saw the price free fall from $0.0201 to $0.0192. The cryptocurrency’s earlier support also crumbled with the current support settling at $0.018. The resistance has been holding at $0.0248. The Bollinger bands have started converging after a massive bearish outbreak. The spectacular drop also saw the bearish candles fall out of the Bollinger cloud. The convergence also conveys that there might be a trend change right around the corner. The Relative Strength Index [RSI] has slowly begun creeping back into the RSI zone after crashing below the oversold zone. The indicator also points to the selling pressure being much greater than the buying pressure. 1-day: The one-day graph does not offer much reprieve for Tron either, with the downtrend bringing the price down from $0.0572 to $0.024. The support has been holding at $0.018, with the recent downtrend almost threatening to break the support mark. The Chaikin Money Flow indicator has slowly started its journey towards the bottom of the axis, which is a sign of the money outflow outweighing the inflow. The Awesome Oscillator has become almost negligible with the bearish atmosphere bringing the market momentum to a grinding halt. The market momentum has been on the downtrend consistently for the past couple of months. Conclusion With Bitcoin’s [BTC] noticeable crash, the rest of the cryptocurrency market seems to have followed suit. Tron’s indicators all point to an extended bearish trend, with a lack of major trend changes. The post Tron [TRX/USD] Technical Analysis: Cryptocurrency suffers massive bleed as bear tears down support appeared first on AMBCrypto.

16 hours ago

Just 14 Cryptocurrencies are Valued at $1bn or More After Recent Market Onslaught

Numerous side effects become apparent when all major cryptocurrency markets go through a big drop. Last night’s round of events has caused some major shifts which have gone by unnoticed for some time now. That is not entirely uncommon, as most traders focus on singular markets first and foremost. The bigger picture tells quite an interesting tale. The $1bn Market cap Club Shrinks Over the past twelve months, the cryptocurrency markets have seen an influx of fresh capital, and an equally swift exit of money as well. This has caused a lot of market cap shifts, with XRP overtaking Ethereum being one of the more recent examples. Another trend everyone should pay attention to is how there is a hefty increase in the number of coins dropping below the $1bn market cap threshold. Yesterday’s massive dip has not changed that situation for the better. Instead, there are now just 14 currencies with a market cap of over $1bn, compared to over 25 currencies just a few weeks ago. This seems to confirm money is flowing back to Bitcoin and established currencies, rather than speculative coins. That situation will undoubtedly change once again as things settle down a bit in the coming days. Current currencies losing their $1bn market cap position include NEO, NEM, and Ethereum Classic .all of these currencies have been on the brink of dropping below this threshold for quite some time now, but this recent dip pushed them off the cliff for the foreseeable future. NEM even had a pretty decent bull run last week and earlier this week, but it has not remained in place by any means. The Elusive $500m Market Cap Club Another interesting development is how the gap is widening between different cryptocurrencies. Just 19 cryptocurrencies have a market cap of over $500m at this time, which is anything but impressive. This means NEO, NEM, Ethereum Classic, Tezos, and ZCash are still well ahead of the pack in terms of total valuation. This is quite a telling story, as many more currencies have a value of $500m or more just two days ago. This also means the Dogecoin market cap continues to get battered first and foremost. Despite reaching $750m a few weeks ago - albeit briefly - it has now dropped to just over $307m once again. This is a clear illustration of how volatile cryptocurrencies are, especially those that are not Bitcoin. Dogecoin will have plenty of work ahead to overcome this most recent deficit. Outside of the top 25 by market cap, reaching a total valuation of $300n is an incredibly difficult feat. As such, it will be interesting to see what the final 46 days of the years have to offer in this department. There is still plenty of value to be recovered, although this may not be the bottom for most markets either. That is not necessarily something to look forward to. A total crypto market cap of $150bn or less is still possible, which would further confirm the bear market isn’t over by any means. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Just 14 Cryptocurrencies are Valued at $1bn or More After Recent Market Onslaught appeared first on NullTX.

16 hours ago

XRP Overtakes Ethereum’s Market Cap as Price Recovers Faster

It has been a brutal afternoon and evening for all crypto markets. Bitcoin’s massive losses pushed all other currencies even deeper in the red, which is never a pleasant sight to behold. One noteworthy shift is how XRP has overtaken Ethereum in terms of market cap again. Although this may not last long, XRP’s losses are lower than Ethereum’s in the past few hours. The XRP Flippening Seems Plausible It has been brewing for quite some time now, but things are heating up in the cryptocurrency market cap department. More specifically, there has been a very real chance XRP would overtake Ethereum in terms of total valuation. This has happened multiple times in the past few weeks, although Ethereum also comes out on top. While this time around may not be any different, the event keeps repeating itself regardless. In the past 24 hours, the XRP price has faced a massive setback. That is not entirely difficult to explain, as Bitcoin lost 12% as well. As is usually the case, altcoins will follow Bitcoin’s lead more often than not. That would explain why Ethereum has lost a nearly identical value, whereas XRP has seen a smaller setback first and foremost. It clearly shows speculators favor XRP over Ethereum at this time. This is quite an interesting trend to keep an eye on. Currently, a $50m gap separates Ethereum from XRP in terms of market cap. Although it is evident there are still many things that can turn around in the coming hours, this is a rather interesting gap worthy of keeping an eye on. This is far from an insurmountable gap, as Ethereum needs less effort to push it back into the #2 spot. When looking at the bigger picture, it seems XRP’s global recognition is finally being valued correctly. Numerous companies want to integrate Ripple technology, which will undoubtedly have a positive impact on the XRP price in the process. After all, developments like these provide real-life use value for XRP, primarily because it targets the financial sector. No one will deny there is a bright future ahead for Ethereum as well. Although its approach is very different, no one can deny the project is doing a lot of things right. In the financial department, however, it lags behind XRP in many different ways. Putting the current market cap aside, Ethereum is a more expensive network to use for transferring value. Changing that situation will not happen throughout 2018, by the look of things. For the time being, there will be plenty of attention as to whether or not Ethereum can reclaim the second place in the market cap rankings. That seems to be a matter of time, even though XRP is reducing its losses a lot quicker. Even then, it needs to note strong gains before Ethereum does, as there was a discrepancy between the two prior to this market dip. XRP may be one of the first coins to recover, whereas Ethereum still faces a steep uphill battle. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post XRP Overtakes Ethereum’s Market Cap as Price Recovers Faster appeared first on NullTX.

16 hours ago


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