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Crypto Price Watch: Bitcoin (BTC) Plummets to Annual Low While Other Top Altcoins Also Face Market Heat

The past 24 hours have been rollercoaster of sorts for the crypto market, with the price of the world’s premier digital currency, Bitcoin, dropping by more than 10% late Wednesday afternoon. As a consequence of this, BTC was seen stooping to its 2017 low of $5,312 before gradually recovering (a little) and settling around the 5,742 mark (at press time). It is also worth noting that this fresh plunge comes right after it seemed as though Bitcoin had finally found some long-term market stability, with the digital asset even experiencing its lowest levels of monetary flux in nearly 16 months. After touching a mammoth price point of $20,000 late last year, many experts had predicted that Bitcoin would rise to over $50,000 by the end of 2018. However, as things stand, it appears as though matters are only going to get worse for the alt-coin sector moving forward. Ethereum (ETH) and Other Top Cryptos Also See Red In wake of this latest bear attack, we can see that both XRP and Ethereum are now once again looking to fight for the second spot in terms of overall market capitalization— with Ethereum’s market cap currently pegged around the $18.5 Bln threshold while XRP’s cap lays close to $18.2B. It is also worth noting that since yesterday afternoon, Ether and XRP have lost more than 13%, 10% of their respective values. Some of the other major casualties of this ongoing slump include: Bitcoin Cash (BCH): -18.40% Stellar (XLM): -10.30% EOS: -11.93% Litecoin (LTC): -13.29% Cardano (ADA): -14.64% Monero (XMR): -13.42% Lastly, it is worth mentioning that out of all the top 10 altcoins in the market, Tether (USDT) has been the only currency to stay in the green as well as witness a small gain in its intrinsic value (+0.04%). What’s Causing This Mayhem? While no one reason can be directly attributed to this present market freefall, it is being said that the ongoing ‘crypto civil war’ taking place between the backers of Bitcoin ABC and Bitcoin SV seems to be having an overall negative effect on the alt-asset investment community at large. For those not aware of the ongoing Bitcoin Cash saga, the premier currency is all set to undergo a hard fork— something that has left the BCH community divided, to say the least. Final Take While many had expected to see Ether’s value drop in the coming few days (since it was reported that a whale had recently shipped around 45,000 ETH tokens to a Binance wallet yesterday), this latest plunge has been confounding to say the least. All we can do now is to hope for the best and see how the coming few days and weeks play out for the alt-asset market. The post Crypto Price Watch: Bitcoin (BTC) Plummets to Annual Low While Other Top Altcoins Also Face Market Heat appeared first on NullTX.

2 hours ago

Stablecoins Fetch a Premium as BTC Hits Year Low

Officially, Wednesday, Nov. 14 will go down as the worst trading day of the year, as BTC sunk to record lows. Unofficially, there were still green shoots to be found if you knew where to look — mostly to the stablecoin sector. These dollar-pegged assets, normally so resistant to volatility, have been trading at a premium as investors seek sanctuary from the storm. Also read: Preparing for the Looming Bitcoin Cash Fork Nov. 14: Bad Day for Cryptocurrency - Good Day for Stablecoins? On a day when the the market turns red, any crypto-asset that can produce a profit is generally hailed. But when that asset is a stablecoin whose primary directive is to hold fast, it’s hard to know what to make of things. As the price of BTC reached its lowest point since Oct. 24, 2017 — bringing the rest of the market down with it — the only winners were stablecoins. As demand for these pegged assets intensified, the charts for many of them began to to resemble a classic altcoin pump. TUSD/BTC on Binance On Binance, trueusd (TUSD) reached $1.07, with paxos (PAX) not far behind at $1.05. The two coins were the biggest gainers out of all 158 assets on Binance, up almost 15 percent, while most of the market nursed deep double-digit losses. TUSD was the sixth-most popular asset on Binance on Nov. 14, with volume of 2,650 BTC. On other cryptocurrency exchanges, it was a similar story, with the Gemini dollar (GUSD) passing $1.03. TUSD, on the right, appears as the largest green square on the grid. The Tether Premium One pattern that has emerged during times of deep market losses is for BTC to trade at a premium on tether-based exchanges. This so-called “risk premium,” attributed to the mistrust some traders have in tether (USDT), even during times of extreme volatility, sees BTC trade for as much as $300 more per coin than on exchanges that aren’t wholly reliant on USDT. Tether’s relative volatility over the past month, slipping from its dollar peg to as low as $0.88 at one point, has prompted traders to seek out ways to profit from flipping USDT. A guide to trading tether, published today, advised: It’s an important cryptocurrency to understand as it facilitates trading and access to some of the most liquid currency pairs in the crypto markets ... It’s also an important linkage between different exchanges, allowing for arbitrages between fiat and non-fiat exchanges more efficiently due to its relatively stable price. Most dollar-pegged stablecoins were trading at over $1 at the time of writing, but there have been a couple of exceptions. Bitusd, which is only tradable on the Openledger DEX, flash-crashed to $0.83 earlier today, and was sitting at $0.97 prior to publication. Dai, meanwhile, was trading at just under a dollar, having gone as low as $0.97. For the more liquid stablecoins, however, which boast a significantly larger market cap than the likes of dai, today’s buying pressure has created a premium. While most traders are closely eyeing the BTC and BCH tickers, they may as well be watching a stablecoin such as TUSD or GUSD. When the stablecoin spike finally flattens out, the worst should be over. Do you think BTC will plunge lower still or is this the bottom for 2018? Let us know in the comments section below. Images courtesy of Shutterstock and Coin360.io. Need to calculate your bitcoin holdings? Check our tools section. The post Stablecoins Fetch a Premium as BTC Hits Year Low appeared first on Bitcoin News.

3 hours ago

Crypto Markets Drop Significantly, BTC, ETH, BCH Price Down over 10%

Crytpocurrency markets are in turmoil right now, most currencies seeing drops of over 10%. What is the reason for the sudden selloff? Most likely due to the drama regarding the upcoming BCH fork. While many disagree that the Coinbase had anything to do with the recent selloff, the announcement coincided with the massive dump. Update for customers with Bitcoin Cash (BCH) stored on Coinbasehttps://t.co/XsavUWTIIg — Coinbase (@coinbase) November 14, 2018 As the upcoming Bitcoin Cash hardfork is scheduled for tomorrow, previously Coinbase announced that they were going to support the hard fork and give their users access to both version of the BCH coins. However, in a recent announcement Coinbase changed their stance and will instead halt all BCH activity during their fork. “We cannot predict the duration of this process. When the upgrade is complete, we will evaluate the security and viability of the network and take appropriate next steps, including re-enabling sends, receives, and trading. We will update our customers throughout the upgrade process and about the outcome of the fork once the network reaches consensus.” Adding to the BCH debacle, OKEx decided to terminate BCH futures. According to their tweet, the exchange will stop trading in response to the fork. SPECIAL ANNOUNCEMENT: All Bitcoin Cash (BCH) futures contracts will stop trading at 9:05am and be delivered at 10:00am Nov 14, 2018 CET (UTC +1) due to the upcoming hard fork. We will provide a detailed explanation shortly.#OKExAnnouncementhttps://t.co/yh3p46tirc pic.twitter.com/oqioSUOUsf — OKEx (@OKEx) November 14, 2018 A few hours later, the cryptocurrency market reacted sharply. The top 10 cryptocurrencies experienced an average price drop of 10%, except for Tether which remained fairly stable through the selloff dropping only 1%. It is true that there should be no reason for the Bitcoin Cash fork to cause such turmoil in the markets. As some of our readers mentioned in the comments, the recent selloff may have something to do with capitulation - where investors simply cut their losses and get out of the market. While many expected a bull run towards the end of the year, things might start moving in the opposite direction. Bitcoin is down over 10% from $6,200 to a current price of $5,677. Ethereum’s price is now back below $200, down over 12% currently trading at $180. As you might have expected Bitcoin Cash took a bigger hit - down over 15% - currently trading at $434 from a previous $520. Surprisingly, XRP is holding relatively well down only 9%, currently trading at $0.46. This would be a good time to remind everyone that trading on emotion is dangerous, and usually leads to more losses. While it is hard to predict the bottom, stop losses are a much better alternative to panic selling. If you were unlucky enough to not have any stop-loss orders placed on the market or if you trade on an exchange that does not support these types of orders it may be a good idea to look into that, at least to save yourself emotional distress in any future dumps. 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 Crypto Markets Drop Significantly, BTC, ETH, BCH Price Down over 10% appeared first on NullTX.

5 hours ago

Crypto Markets Drop Significantly Partly Due to Coinbase Announcement, BTC, ETH, BCH Price Down over 10%

Crytpocurrency markets are in turmoil right now, most currencies seeing drops of over 10%. What is the reason for the sudden selloff? Most likely the Coinbase announcement that was released roughly 15 hours ago. The company announced that they will be halting all BCH trading and withdrawals beginning Thursday November 15th at 8AM PST. Update for customers with Bitcoin Cash (BCH) stored on Coinbasehttps://t.co/XsavUWTIIg — Coinbase (@coinbase) November 14, 2018 As the upcoming Bitcoin Cash hardfork is scheduled for tomorrow, previously Coinbase announced that they were going to support the hard fork and give their users access to both version of the BCH coins. However, in a recent announcement, Coinbase changed their stance and will instead halt all BCH activity during their fork. “We cannot predict the duration of this process. When the upgrade is complete, we will evaluate the security and viability of the network and take appropriate next steps, including re-enabling sends, receives, and trading. We will update our customers throughout the upgrade process and about the outcome of the fork once the network reaches consensus.” In response to the announcement, the cryptocurrency market reacted sharply. The top 10 cryptocurrencies experienced an average price drop of 10%, except for Tether which remained fairly stable through the selloff dropping only 1%. Bitcoin is down over 10% from $6,200 to a current price of $5,677. Ethereum’s price is now back below $200, down over 12% currently trading at $180. As you might have expected Bitcoin Cash took a bigger hit - down over 15% - currently trading at $434 from a previous $520. Surprisingly, XRP is holding relatively well down only 9%, currently trading at $0.46. It is surprising that the market reacted in such a way, because the BCH funds on Coinbase will remain safe despite the halting of trades. Furthermore, this announcement does not affect other cryptocurrencies on the platform. Thus, there isn’t any real reason for the wiping of over $15 billion off of cryptocurreny’s overall market cap. 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 Crypto Markets Drop Significantly Partly Due to Coinbase Announcement, BTC, ETH, BCH Price Down over 10% appeared first on NullTX.

5 hours ago

Crypto Markets Drop Significantly Due to Coinbase Announcement, BTC, ETH, BCH Price Down over 10%

Crytpocurrency markets are in turmoil right now, most currencies seeing drops of over 10%. What is the reason for the sudden selloff? Most likely the Coinbase announcement that was released roughly 15 hours ago. The company announced that they will be halting all BCH trading and withdrawals beginning Thursday November 15th at 8AM PST. Update for customers with Bitcoin Cash (BCH) stored on Coinbasehttps://t.co/XsavUWTIIg — Coinbase (@coinbase) November 14, 2018 As the upcoming Bitcoin Cash hardfork is scheduled for tomorrow, previously Coinbase announced that they were going to support the hard fork and give their users access to both version of the BCH coins. However, in a recent announcement, Coinbase changed their stance and will instead halt all BCH activity during their fork. “We cannot predict the duration of this process. When the upgrade is complete, we will evaluate the security and viability of the network and take appropriate next steps, including re-enabling sends, receives, and trading. We will update our customers throughout the upgrade process and about the outcome of the fork once the network reaches consensus.” In response to the announcement, the cryptocurrency market reacted sharply. The top 10 cryptocurrencies experienced an average price drop of 10%, except for Tether which remained fairly stable through the selloff dropping only 1%. Bitcoin is down over 10% from $6,200 to a current price of $5,677. Ethereum’s price is now back below $200, down over 12% currently trading at $180. As you might have expected Bitcoin Cash took a bigger hit - down over 15% - currently trading at $434 from a previous $520. Surprisingly, XRP is holding relatively well down only 9%, currently trading at $0.46. It is surprising that the market reacted in such a way, because the BCH funds on Coinbase will remain safe despite the halting of trades. Furthermore, this announcement does not affect other cryptocurrencies on the platform. Thus, there isn’t any real reason for the wiping of over $15 billion off of cryptocurreny’s overall market cap. 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 Crypto Markets Drop Significantly Due to Coinbase Announcement, BTC, ETH, BCH Price Down over 10% appeared first on NullTX.

8 hours ago

Red Alert: Bitcoin crashes below $5,800, the market loses $10 billion in 1 hour

What did just happen? Within a snap, the crypto markets just plunged to the lowest point breaking a multi-month stability. It was not just the Bitcoin but nearly all leading currencies were deep in the red. While the actual reason is still unknown the prominent one seems to be the Bitcoin hard fork event that is scheduled to take place today. Bitcoin and All Cryptos Plunge to New Multi-Month Lows as Crypto Street Sees Bloodbath A few hours of ago (from the time of reporting) all cryptocurrencies including the Bitcoin were in a stable mood, that they had been carrying for quite some months now. But all this steady and stable environment turned into terror as there was a sudden dump in the market and that too across the street which wiped of over 10 billion dollars from the street in 1 hour. The bitcoin deep dived to near 5600 levels marking a multi-month low. Ethereum, XRP, BCH and practically every other coin saw a drop of around 10% taking them to multi-month lows breaking all logical support levels. Leave aside others, even Tether, which is a stable coin, fell around 3 % clearly showing the sentiment on the street. Source: Coinmarketcap Why did this happen and what were the reasons behind this are still unknown, but most the street believes it is because of the arrival of Bitcoin Cash Fork date, 15th of November. While we are still some time away from the Fork to actually happen, the drama on the street and the divided Bitcoin Cash community has sent this shock waves creating a situation of panic and uncertainty. No Fork Support for BCH Bitcoin Cash (BCH), which is undergoing its controversial hard fork event today, is currently trading at negative of around 17% at its current price of $429.20, virtually erasing all its previous gains that resulted from hype surrounding the hard fork event BCH, on back of this forking news, had rose from lows of $415 in late October to highs of $635 in early-November, before crashing to its current price. The high selling volume just before the hard fork event is a sign that investors are not interested in the crypto units resulting from a hard fork event. Another reason associated with this fall is that its expiry day today at CBOE. It is believed the recent spike in crypto markets had forced a lot of traders to take long positions in the market and a lot of them seem to wind those up as these spikes did not sustain on higher levels. While the actual reason is still unknown, this fall is definitely not a good sign as this creates a doubtful situation for a Christmas rally in cryptos What do you think is the main reason for this dump? Do let us know your views on the same The post Red Alert: Bitcoin crashes below $5,800, the market loses $10 billion in 1 hour appeared first on Coingape.

9 hours ago

Crypto Markets Collapse: Is Bitcoin Cash Hash War The Reason?

The war between the two opposing groups of Bitcoin Cash, ahead of the upcoming fork, had been suspected to have a direct relationship with the severe crypto prices losses. As of now, the fights have been taken to the next level: both parties - Bitcoin ABC and Bitcoin SV - threatened each other that they would sell some of their BTC as well as move their hash power from mining Bitcoin (BTC) to mine Bitcoin Cash (BCH). “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),” Bitcoin SV Craig Wright tweeted today around 6 pm (CET). About an hour before his tweet, the severe drop in the Bitcoin’s value has initiated. “Oh. And @JihanWu and @rogerkver selling... they will also have to sell BTC to pay rented hash. If this is a long war... expect 2014 prices in BTC... think what that does... Have a nice day,” Wright added, threatening Bitcoin.com CEO Roger Ver and Bitmain co-founder Jihan Wu. There’s also another tweet from an unverified source claiming about Jihan Wu’s threats. Here is the translated version: “I have no intention to start a hash war with CSW [Craig S. Wright] because if I do (by relocating hash power from BTC mining to BCH mining), BTC price will dump below yearly support; it may even reach $5000. But since CSW is relentless, I am all in to fight till death.” So who is fighting with whom? Soon after Bitcoin ABC developer, Amaury Sechet has proposed its solution to upgrade the Bitcoin Cash network in July 2018; the BCH community had split into two opposing parties. Sechet’s proposal included the introduction of the idea of pre-consensus to the Bitcoin Cash network. Pre-consensus would allow network participants to agree with each other on what the next block will look like. According to Sechet and his fellow Bitcoin ABC developers, the upgrade would allow the network to scale better and would significantly improve the guarantee of zero-confirmation transactions. Jihan Wu. Source: Medium Craig Wright, the person who some believed to be Satoshi Nakamoto, was one of the first to oppose Bitcoin ABC’s solution and came up with a proposal of his own called the “Satoshi Vision” (Bitcoin SV). Bitcoin SV is a more conservative approach to the November 15 BCH hardfork as the proposal suggests returning to Bitcoin’s origins (as it was in the original whitepaper) - except for a 128 Mb block size upgrade. Can these threats influence the crypto prices? As both parties have threatened each other (and the whole crypto community) by either re-routing hash power from BTC to BCH or selling their Bitcoin reserves, it creates a question: can either of this affect the crypto markets? As we witness the falling prices, the short answer is yes. Turning a large amount of hash power to one coin to another would unbalance the network. “Converting these massive amounts of hash power could easily affect some algorithms/trading bots in the market. I am assuming that Bitmain could be turning the 90k miners offline or getting ready to switch them to BCH if Bitmain interferes. Additionally, any institutions in BCH or BTC are probably pulling our short-term for things to calm down,” user apollo74 stated on CryptoPanic. A battlefield full of blood and a word about Tether Currently, according to Coin Dance, the Bitcoin SV party seems to be winning over with an estimated 69-75% of the miners backing the upgrade, while Bitcoin ABC’s supporters are estimated between 13 - 25%. As always, some speculations are around Tether, where it’s value has unreasonable volatility, where its current lowest price was even $0.97, and right now it’s traded for $0.98. While it’s not for sure the cause, by looking at the 24-hour change BTC had lost nearly 10 percent of its value, while Bitcoin Cash has experienced even more severe wounds with a price drop of 16 percent against the USD. Almost all cryptocurrencies are affected. The post Crypto Markets Collapse: Is Bitcoin Cash Hash War The Reason? appeared first on CryptoPotato.

10 hours ago

Crypto market crashes ahead of Black Friday 2018

On November 14th 2018, the entire crypto market began to bleed. While some might correlate this event with the upcoming BCH hard fork and speculation that Craig S. Wright is an angry Satoshi who uses #fullbillionairemode to destroy his creation like an Old Testament deity, it’s most likely not the case. There is so much more to this $200 billion market than a Bitcoin hard fork which gave the big block advocates a revitalized sense of purpose. This time we’re witnessing a seemingly-coordinated dump which comes directly from the whales. Otherwise, how could all the top 100 cryptocurrencies that aren’t stable coins crash within minutes around 11 AM EST? We can probably look for reasons and point fingers all day, but perhaps it’s better to just point out some facts: stable coins like Tether (USDT), True USD (TUSD), and US Coin (USDC) have shown a negligible increase which hardly exceeds one percent, BCH’s loss is proportional to the BCHSV (Satoshi’s Vision) increase, and this year’s Black Friday is quickly approaching. Black Friday discounts too appealing to miss Now that we can see that the money withdrawn from the crypto market didn’t pour into altcoins, then it’s probably safe to assume that a series of fiat withdrawals have occurred. Though 2018 has been an incredible year for institutional adoption, the merchant side didn’t seem to catch up - and it’s mostly due to the volatility and ambiguous fiscal policies. Furthermore, we know that exchanges can take up to a week to process fiat withdrawals and Black Friday takes place in exactly nine days. If you’re a cautious consumer, then you must take into account processing delays and make sure that you get your dumb money just in time to buy some gifts for your loved ones. We’re still light years behind in terms of seeing major merchants accept Bitcoin, and confusing legislation and clueless lawmakers add to the problem, forcing even the most crypto-savvy of us to use fiat, at least for the time being. At least we know that spending government-backed currencies is a wise idea, as inflation constantly lowers their value. The Jimmy Song argument for spending with fiat. In October 2018, blockchain programmer and Bitcoin advocate Jimmy Song made a seemingly-outrageous comment in regards to spending. Using an economic rationale, he basically explained that it’s silver that we should be spending thanks to abundance and low chances to appreciate in the future, not gold. Therefore, it makes much more sense to spend with your credit card and benefit from the advantages such as no fees and bonus points, and only make Bitcoin payments when necessary. Ideally, you should hold onto your sound money and use lesser valuable liquid assets, like fiat. You can find out more about Jimmy Song’s rationale by watching Crypto Insider’s exclusive interview. How is this argument relevant? Well, it’s likely that some whales have run out of money and need to buy some gifts. Not all Black Friday stores accept BTC and the timing is just right to manipulate the market sentiment. If it all goes well, they can buy at a lower price whenever they decide to return. Maybe that their credit cards have reached the overdraft point and require some fresh fiat that can only be obtained by selling some BTC (which always brings the entire market down). Tone Vays might have been right too. Now let’s stop speculating on the BCH drama and Black Friday consumerist habits for a little bit and give credit to Tone Vays. Last month, he was laughed at for opening a short position around the $6500 price point for Bitcoin. At the time, some commentators speculated that he’s irrational because the price seemed stable around that range and it appeared to have reached the absolute bottom. As Promised, my FIRST & PERHAPS ONLY #Bitcoin Trade this Year.Short 1 $BTCUSD at 5x Leverage for March 2019 Expiry. Full account Liquidation at $7,650 (above last swing high) -> Take Profit at $5k, Lower Stop Loss at at $5,750.10% Off Affiliate Shill -> https://t.co/UjzUDnF68P pic.twitter.com/iYVZjRCKhe — Tone Vays [@Bitcoin] (@ToneVays) October 13, 2018 Well, the former S&P500 trader was right in his prediction and maybe he deserves some apologies. On the other hand, this drastic drop doesn’t look like something that graphs can predict and is more akin to good old market manipulation. Losing more than $500 off the value of Bitcoin in one day isn’t quite something that technical analysis highlights. Tone was right. — John Carvalho (@BitcoinErrorLog) November 14, 2018 Brief pumps in XRP and BCH have also reminded the entire community about the sweet taste of a bull run, and maybe that the market sentiment has been influenced by these increases. We wanted to believe so badly that the bear market would end soon that we were blinded by our faith and got rekt. So consider this an acknowledgment that Mr. Vays was the more rational actor in this story. In conclusion, whales need discounted Black Friday gifts too. This explanation mak

11 hours ago

Binance Uganda lists BNB/UGX and PAX/UGX for Trading

Binance Uganda is just a few weeks old, but its founders have made it clear that its infancy is not a yardstick to measure effective growth. The crypto-fiat exchange is set to list two new tokens namely; BNB and PAX token, enabling traders to expand their horizon. This will increase the possibility of bullish trends for both altcoins, especially BNB, the family token for Binance itself. In a blogpost on the BinanceUG website, the announcement read thus ; “Binance Uganda will open trading for BNB/UGX and PAX/UGX trading pairs at 2018/11/15 10:00 AM (EAT). Users can now start depositing BNB and PAX in preparation for trading” - Binance Uganda. Transaction methods have also been displayed ahead of these listings. The minimum withdrawal for Binance coin will be 0.5 BNB with a transaction fee of 0.1 BNB, while the transaction fee for 1 Paxos standard token (PAX) goes for 1.3 Pax. Prior to these listings, BinanceUG was limited to BTC/UGX and ETH/UGX trading pairs upon its inception, which was well received by Ugandan traders. With over 70% of Ugandan citizens unbanked, Binance Uganda has successfully registered over 40,000 users in just weeks of its arrival. BNB, the world’s 14th largest cryptocurrency according to data from coinmarketcap, with a trading price of $9.18 is also facing the bearish market crisis. The new listings are expected to boost trading volume, but this is yet to occur as market losses are slowly piling up. Bnb opened at $9.37 as of yesterday and hit a not-so-impressive daily high of $9.47 after which it fell to $9.19 and closed at $9.25. The token had initially broken the $9 resistance level in early October to sit at $10.44, nearly hitting another milestone until October 18th when the bearish market kicked in. With a trading volume of $12.12 million, USDT traders have continued to boost trading volume despite losses of 1.57% today. The post Binance Uganda lists BNB/UGX and PAX/UGX for Trading appeared first on ZyCrypto.

11 hours ago

Crypto Market Bull Run Stymied By Lack Of Momentum

The crypto market is down again today. A sea of red would have once caused much deliberating and worry. Pundits would preach why the market is down. A couple would even toss knuckle-bones in the air to predict the returning bull market. But cryptocurrency has long faced up to the new reality. It no longer points upwards; prices stay where they are. A possible bull breakout failed to materialize last week and the crypto market is back on a downward trajectory. Crypto’s total value fell by approximately $15bn, over the past seven days; taking it from around $220bn to $205bn. The recent correction takes the market back down to the same sort of price levels it started the month at. Bitcoin dominance has steadily started to creep upwards again - up by nearly 2% - suggesting traders are moving back into less-risky assets to preserve value. All coins in the top-ten, excluding Tether (USDT), are down today. Ether (ETH) is down by 3.5%; XRP by 4.5% and 3.3%. Bitcoin (BTC) is down by less just over 1%. Among the coins most affected are Cardano (ADA), with a 5.6% drop, and Bitcoin Cash (BCH), which has seen prices fall by nearly 10% drop in the past 24 hours. This is less surprising, considering both projects have been in the news recently. Michael Parsons has recently resigned as head of the Cardano Foundation, and Bitcoin Cash has the controversial hard fork tomorrow. Market sentiment was already down; added uncertainty caused by recent developments in both projects would only further lead more investors away, at least until the dust has settled. Why is there still no crypto market bull run? So where did anticipated bull breakout go? It simply didn’t arrive - at least, not yet. A source at an institutional trading platform suggested that although the crypto market was poised for a successful bull run last week, there was simply not enough upwards drive for it to gain sufficient momentum. “The bull run seems less likely than it did a week ago. We failed to get the strong upside breakout we were hoping for,” he said. Others suggest the market failed to hold onto its gains because the market lacked utility. James Roy Poulter, CEO of The Reserve, a London-based investment bank, argued prices were fated to come back down because none of the assets properly work yet. “The market remains subdued due to a broad realization that cryptocurrencies still lack real-world use cases and are not ready for mainstream adoption,” he said. For the time being, at least, the crypto market has reverted back to levels traders have become familiar with since the start of September. Crypto Briefing has already suggested that this might constitute an accepted floor price for many of the most popular assets. There are benefits to this. It brings about stability and acts as a guide rail for traders and investors alike to assess the short-term prospects of the asset in question. Both momentum and utility feed into one another. Until projects develop and start becoming experiencing mass-adoption, coins will continue to have little more than a speculative value. Prices will continue to oscillate, but something needs to change if increases are to become permanent. The author is invested in BTC and ETH, which are mentioned in this article. The post Crypto Market Bull Run Stymied By Lack Of Momentum appeared first on Crypto Briefing.

11 hours ago

Bitcoin Bears to Persist Longer, XRP, Stellar, Bitcoin Cash, Cardano & BAT Loses the Most among the Top Altcoins

Down by 1.37%, Bitcoin is trading at $6,273 while crypto analyst Willy Woo says, “timing for a bottom may be around Q2 2019.” Majority of the crypto market is in the red and wiped out about $7 billion from the total market cap. Among the top altcoins, Bitcoin Cash (BCH), XRP, Stellar (XLM), Cardano (ADA), and BAT are losing most of their values. Bitcoin Bears to be in Effect Till Mid of Next Year The majority of the crypto market is in the red right now. The leading cryptocurrency has been trading at $6,273 with the 24-hours loss of 1.34 percent. With a market cap of $109 billion, it has been managing the daily trading volume of $4.5 billion. Source: Coinmarketcap.com Bitcoin is trading below the $6,275 support level against USD. In the near term, BTC faces the risk of more losses below $6,250 support level. Meanwhile, crypto analyst Willy Woo shares on Twitter that Bitcoin will remain bearish till the mid of next year, “Putting together the blockchain view, I suspect the timing for a bottom may be around Q2 2019. After that we start the true accumulation band, only after that, do we start a long grind upwards.” He shared an elaborate thread to discuss this scenario: So 30% think the bottom is in, 40% think more bear, and 30% are undecided. People asked what I think. To me nothing has really changed, apart from some sideways nail biting. I’ll repeat with updates... https://t.co/hhmyWXUoCF — Willy Woo (@woonomic) November 13, 2018 Crypto Market in Red Today The situation of top 5 cryptocurrencies is shown in the below-given graph: Source: Coinarketcap.com When it comes to top altcoins, Bitcoin Cash (BCH) has lost most of its value by almost 9 percent in the past 24-hours at $475. This digital currency saw a huge surge last week on the news of its upcoming hard fork on November 15. XRP is another top altcoin that is losing close to 5 percent while dropping below its crucial $0.50 price level. Despite a number of positive news in the form of Ripple CEO, Brad Garlinghouse talking about taking over SWIFT and that some of the largest banks using SWIFT are working with Ripple, XRP is falling in tandem with the crypto market. After kicking out EOS from the 5th spot, Stellar (XLM) is in the red by 6.21 percent at $0.2485. Meanwhile, Cardano (ADA) is down by 5.80% as the chair of the Foundation resigns, “Michael Parsons, Chairman of the Foundation Council of the Cardano Foundation, has resigned with immediate effect. Pascal Schmid, Council Member, will take over as Chairman of the Foundation Council on an interim basis. The Foundation is working to supplement the Foundation Council with suitable persons as soon as possible.” In the red by 11.15%, Basic Attention Token (BAT) has come down from its high. Meanwhile, the highest losses are borne by WAX at almost 20%. When it comes to gains, Sirin Labs Token (SRN) is registering the highest greens by 12.56%. Tether (USDT) is also in the green by 0.33% but still below $1 at $0.989. This has resulted in the loss of about $7 billion in the total market cap. The post Bitcoin Bears to Persist Longer, XRP, Stellar, Bitcoin Cash, Cardano & BAT Loses the Most among the Top Altcoins appeared first on Coingape.

11 hours ago

Op Ed: Anatomy of the Tether Attack: Are Stablecoins Vulnerable?

“Go for the Jugular” is the advice George Soros gave to his team during his famous attack on the British pound for a profit of $1 billion on so-called Black Wednesday in 1992. On October 15, 2018, tether, the market dominating stablecoin with a market cap of $2 billion, was attacked, breaking tether’s peg to USD, dropping its value by 7 percent but simultaneously driving up bitcoin and the whole crypto market by more than 10 percent. Even though nobody has claimed the attack yet, entrepreneurs, investors and customers of stablecoins should all carefully analyze existing and potential attacks and act accordingly.Stablecoins, cryptocurrencies with stable value, are considered the “holy grail” of crypto since they could displace all the fiat money in the world which is about $90 trillion. As one might expect, investors have poured out hundreds of millions of dollars chasing stablecoin dreams, and, following the money, new stablecoin projects have come out left and right in 2018, which many have called the year of the stablecoin.While there are many good articles on stablecoins, almost all of them focus on topics related to stablecoin design or why stablecoins are doomed to fail, and all analyses assume normal crypto market conditions rather than taking into account the volatile conditions we have experienced. However, during an attack, the market movement is massive and sudden. Assuming these attacks are legal and highly profitable, just like Soros’ attack, they will come back again and again. Only the stablecoins that can survive these attacks can eventually become the “holy grail.”Analysis of the Tether AttackAs of the writing of this article, there is not much information or data regarding the Tether attack on October 15, 2018. Who were the attackers? What was the method to profit from the attack? How profitable was the attack? What resources were required to execute the attack? Was there any attempt to defend against it? However, just by analyzing some limited public data from CoinMarketCap, we can gain valuable insights around these questions that are important in understanding such an attack.First, the attack is a classical speculative attack: a massive and sudden selling of a currency during a relatively short period of time. Such an attack is usually executed by financial speculators; in this case, it is rumored that the recent Tether attack was mounted by IMMO. As shown in Figure 1, the whole attack was very short: only about three hours from start to finish. It started around Sunday, October 14, 2018, 10 p.m. PST (UTC-7:00) and finished around Monday, October 15, 2018, 1 a.m. PST (UTC-7:00). It took about 100 minutes to drive the tether price to the bottom at $0.925284. Then, about 65 minutes later, the price went back to $0.973513 and started to stabilize. The transaction volume during these three hours was about $2 billion, which was the average 24-hour trading volume around that period.Figure 1: Tether’s 24-hour price from October 14, 2018, to October 15, 2018 (Source: CoinMarketCap)Second, the method to profit from the Tether attack is actually different from the method used in Soros’ attack on the British pound. In Soros’ attack, shorting currency was used to generate profit: 1) First, Soros’ team built up a huge short position of pound sterling; 2) they executed a massive and sudden selling of the pound; and 3) they finally bought back the pound after breaking the peg, returned their borrowed pound and generated $1 billion in profit from the price difference. In the Tether attack, it seems that the attacker(s) 1) first built up a big position in tether (either short or non-short position) and a big position in bitcoin or other crypto assets; 2) then executed a massive and sudden selling of tether, which drove the tether price down to the bottom and caused the bitcoin price to go up by about 10 percent; 3) finally sold the big bitcoin position to generate profit; and 4) possibly bought back tether at a lower price to reduce the loss from dumping tether. I believe the attackers leveraged the fact that bitcoin and other crypto assets are perfectly negatively correlated with stablecoins. As shown in Figure 2, with about 15 minutes delay (CoinMarketCap only provided data in 5-minute intervals), the bitcoin price started to climb when the attack started, reached its peak when the tether price reached its bottom, and dropped as the tether price recovered.Figure 2: Bitcoin’s 24-hour price from October 14, 2018, to October 15, 2018 (Source: CoinMarketCap)Third, it is extremely hard to figure out exactly how profitable the attack was, given the limited data available. However, it is safe to say the attack was very profitable. Even though it does not let us determine the profitability of the attack, the whole crypto market went up 10 percent, adding $20 billion in value, while at the same time, tether dropped by about 7 percent, removing only about $210 million in value. That difference represents a tr

11 hours ago

The Horror Prediction: Bitcoin is Likely To Re-test $3000 Before Turning Bullish Again

So far, 2018 has been a very bearish year for Bitcoin and the entire crypto market. Bitcoin’s price has dropped 70%, which is a long way down from its peak. The good news is that corrections are part of a long-term positive trend-line. The bad news is that according to some of the analysis we’ve conducted, Bitcoin’s bottom could be a lot lower than what we’ve seen so far. To be specific, the bottom could be around the $2,700 - $3,000 area. The analysis we’ve produced is based on technical analysis data and metrics. It can’t predict substantial fundamental news events. Also, the following presents a possible scenario. This is likely to happen according to the analysis, but things might change at any moment. The famous 2018 Bitcoin triangle To understand the current long-term situation for Bitcoin, let’s first look at the definition of a Symmetrical Triangle Pattern: Triangles occur in bear and bull market conditions. Since they are continuation or reversal patterns, traders wait for the triangle to form and breakout to indicate the market’s direction. To develop a triangle, there has to be a minimum of two highs, and two lows which are touching each angle. What about the estimated target in the case of a breakout? The height of a triangle at its base provides some clues to the value that might run following the break of a triangle. To induce this estimate, add the height of the angle to the point of a breakout in the same direction. Symmetric Triangle. Source: Investopedia Technically, Bitcoin is at a very fragile point. Bitcoin is in a situation where if the triangle breaks down it might reach a target as low as the long-term log trend-line is located. This is somewhere between $2,700 - $3,000. We are not here to create panic, but many indicators show a high-probability of this because usually in such triangles when the support touches their bottom several times, the support does not hold at the end. If the support rises, i.e., higher lows, it indicates an upward direction of the market; which we do not find in the current Bitcoin situation. Bitcoin’s long-term chart Ethereum example: Breaking down a symmetrical triangle For some traders, the ETH chart is reminiscent of the Bitcoin bubble of 2013. The asset rose quickly from around $170 to $1,200/$1,400, and as the triangle broke - the lowest point was around $180 in both cases. The following chart shows the triangle, which is marked by a red background. The critical support area for ETH at $380 - $400 had broken down: The current low of ETH lies around $170 (September 12): ETH-USD long-term chart The Bitcoin long-term LOG chart Even in the long-term logarithmic chart compared with the correction that followed the crypto bubble of 2013, we can see that there is still room for a major move down, indicating the above targets. Most of the market believes that the support around $6,000 will hold for Bitcoin. The recent sharp drop on Wall Street also did not have a positive effect on the crypto market, which usually reacts accordingly. In contrast, commodities and gold have risen - indicating the weakness of the markets. Price differences between BitFinex and the rest of the market and the weakness of Tether are other factors that indicate recent market instability. Trading volume has dropped significantly, and it seems that the recent months do not represent the actual value of Bitcoin. Most of the trading volume is created and dominated by individual Bitcoin whales. Also, by looking at the moving average lines of the long-term Bitcoin chart, we can examine the similarities: As mentioned, the above presents the bearish long-term scenario for Bitcoin, it is limited only to the author’s view and is not a trading advice in any manner. The post The Horror Prediction: Bitcoin is Likely To Re-test $3000 Before Turning Bullish Again appeared first on CryptoPotato.

11 hours ago

Bitcoin Falls to Lowest Monthly Level to $5,850, Leads to Widespread Market Carnage

Bitcoin has fallen to its lowest levels in the past month and has officially broken through the bottom of its previously established trading range between $6,200 and $6,700. Bitcoin’s drop has led to a widespread market loss, with most major altcoins trading down 10% or more. At the time of writing, Bitcoin (BTC) is trading down 7% at its current price of $5,850, the lowest price it has seen in a month. Today’s drop has decisively pushed its price below its previously established support level of $6,200, which it has held on multiple occasions in the past couple of months. It now appears that Bitcoin will test its yearly lows of approximately $5,800, and an end-of-year rally is looking significantly less likely. Ricky Li, the co-founder of Altonomy, a cryptocurrency trading and asset management firm, spoke to MarketWatch about BTC’s latest price action, explaining that it is unlikely that it will see any immediate positive price action due to a lack of interest from retail traders. “Bitcoin is not only going through low volatility, but also very low volume. It’s at the lowest trading volume in 2018, especially the spot market. This signals a very low retail participation. So without enough external funding or retail participation, the market is probably going to stay around the current price with low volatility and volume in the near future,” Li said. Related Reading: Bitcoin Drifts Lower Under $6,400 as Altcoins Have Mixed Trading Session Altcoins Experience First Massive Drop in Months Altcoins, many of which have seen positive pricing action in the months and weeks prior, have been the worst affected by today’s drop, many of which are nearing drops of 20%. At the time of writing, XRP is trading down over 15%, at its current price of $0.438. Yesterday, XRP was retesting highs of approximately $0.53, and its pricing action was looking bright. Today’s drop is now bringing yearly lows back into play, with XRP’s year-to-date low hovering around $0.25. Bitcoin Cash (BCH), which is undergoing its controversial hard fork event tomorrow, is also having a terrible day, currently trading down over 17% at its current price of $434.76, virtually erasing all its previous gains that resulted from hype surrounding the hard fork event. BCH rose from lows of $415 in late October to highs of $635 in early-November, before crashing to its current price. The high selling volume preceding the hard fork event likely signals that investors are not interested in the crypto units resulting from tomorrow’s hard fork event. Ironically, Tether (USDT) has also seen some volatility today, temporarily moving above the ever-so-important $1.00 figure that it has been struggling to reach, before crashing back to its current price of $0.98. This signals that traders are rapidly buying and exchanging USDT units in order to execute trades and could signal that there is more volatility to be seen in the day ahead. Featured image from Shutterstock. The post Bitcoin Falls to Lowest Monthly Level to $5,850, Leads to Widespread Market Carnage appeared first on NewsBTC.

11 hours ago

Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend

Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com. Source: CoinMarketCap.com | Global Crypto Market Cap A rebound at this point largely depends on the individual performances of the top coins. Bitcoin, for instance, today plunged as much as 2.06% across all the exchanges, forming lower lows towards $6,160. But its bear trend becomes weaker everytime it attempts to breach $6,000-support, as noticed by its price action in the previous quarter performances. Bitcoin 1D Chart | Source: TradingView.comAccording to the BitFinex chart above, the Bitcoin price is still capped by a strong falling trendline to its north. At the same time, a riding trendline is providing crucial support against the overall bearish sentiment. Bitcoin can reverse from support as it has before, clearing another opportunity for day traders towards their respective long targets in the north. That said, the entire crypto market can eye a potential upside correction in Bitcoin charts as an indication of a more comprehensive recovery across its space. XRP Weakened despite Strong Fundamentals Ripple’s CEO Brad Garlinghouse in his latest comments lambasted Bitcoin as a technologically deprived cryptocurrency. The blockchain official put XRP above BTC, stating that their token would perform impressively in the third quarter of this year. As a result, XRP posted close to 6 percent gains on Monday. A bearish correction ensued, however, erasing almost half the intraday gains. The XPR price action today simply looked like an extension of its prevailing downtrend, bringing the asset to form lower lows towards $0.50. Ripple (XRP) 4H Chart | Source: TradingView.com The XPR price is now attempting a pullback action while staying in the midst of a strong downtrend. There is strong support lurking at $0.493-level as of now. If it is broken to the downside, then the pressure to revive the bullish sentiment could fall on $0.463. The aggregated daily price drop in XRP market amounts to 4.44 percent at the press time, according to CoinMarketCap.com 24-hour indicator. Ether Continues Triangle Action Ether is trending sideways inside a symmetric triangle since mid-September. The latest price action is repetitive concerning testing the lower trendline of the said triangle. Ether 4H Chart | Source: TradingView.com The coin has reported 3.5 percent losses in the past 24 hours and could extend the bearish sentiment. A pullback action nevertheless would be expected from the lower trendline support. If it doesn’t occur, then the support target could shift to $195.89. Bitcoin Cash Crashing, Down 9% Bitcoin Cash is the only coin among the top ten whose value is reacting organically to fundamental factors. The coin’s underlying blockchain is scheduled for a hard fork tomorrow, which would split its chain into two identical ledgers: Bitcoin ABC and Bitcoin NV. Most of the traders are swapping their BCH holdings for South Korean Won (KRW) and Tether’s USDT, according to volume reports on CoinMarketCap.com, to protect their positions. Bitcoin Cash 1D Chart | Source: TradingView.com Bitcoin Cash is now trading at $490.5, now 8.5 percent lower than the previous high. The price is also treating the rising trendline as its tentative support level, awaiting pullback towards the falling trendline resistance above. The coin can expect recovery after the forking event is through. But until then, any extended bearish action could bring Bitcoin Cash to retest November’s bottom at circa $407. Other top altcoins, including Monero, Stellar, EOS, Litecoin, and Cardano, have posted losses ranging between 2 and 6 percent. Stabelcoin Tether, meanwhile, is 0.2 percent up from its valued noted 24 hours ago, now trading at $0.987. The post Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend appeared first on NewsBTC.

11 hours ago

Forbes ’30-Under-30′ Breeds New Crypto and Blockchain Influencers

CoinSpeaker Forbes ’30-Under-30′ Breeds New Crypto and Blockchain Influencers Everything old becomes new again with new Forbes list that is chronicling the best entrepreneurs across the United States and Canada. From bailing people out of jail to new payment technologies, young innovators are seriously shaking up some of the world’s hard-core industries but also FinTech sector with its niches like Blockchain or Cryptocurrency. Nader Al-Naji (26) In April, 26 years old Nader Al-Naji, has raised $133 million from the companies like GV (formerly Google Ventures), Bain Capital Ventures, Lightspeed Venture Partners, Andreessen Horowitz, and Sky9 Capital in order to create a cryptocurrency. His cryptocurrency Basis, tend to use blockchain technology to replace central banks in countries suffering from currency volatility. This Syrian-Lebanese’s immigrant began with a bitcoin mining rig he built in his Princeton dorm. He even quit his job at Google in order to work on his cryptocurrency, which has a stable value determined algorithmically. In theory, that will make it more useful as a currency, and not just a vehicle for speculation. After he saw how volatile Bitcoin was he decided to create a digital currency that didn’t wildly fluctuate in value that much. He posted an early whitepaper for the currency in 2017, describing it as a “stable cryptocurrency” that will maintain a relatively fixed value, so that it can be used to make purchases. Unlike the stable token Tether, which has a steady value that’s tied to the US dollar, the value of Basis is controlled algorithmically, on the blockchain. When he started mining, back in 2013, he mined 22 bitcoins. When asked what did he do with it, he says: “I’m still HODLing” The use of this cryptocurrency acronym that stands for “hold on for dear life,” means that at the time of writing, 22 bitcoins are valued at around $138,000. Olaoluwa Osuntokun (25) Lightning Labs cofounder Olaoluwa Osuntokun, 25, got to raise $2.5 million to increase the speed of transactions on the bitcoin blockchain, making it a more viable system for small, Venmo-like transactions making them more cost effective. An immigrant from Nigeria, Osuntokun is a frequent contributor to the underlying bitcoin protocol. The Lightning Network is a network duplex micropayment channels that are enabling near-infinite scalability for digital payments based on Bitcoin. Bitcoin transactions are no longer used directly to transfer bitcoins from a sender to a recipient, instead they are used to setup micropayment channels and handle conflict resolution. JB Rubinovitz (26) Machine-learning engineer JB Rubinovitz, 26, cofounded Bail Bloc to create a blockchain-based system in which mined cryptocurrency can be used to pay for bail for those who can’t afford it. Bail Bloc allocates a small percentage of the operating device’s excess computing power to mine cryptocurrency. Bail Bloc mines Monero, a relatively energy-efficient cryptocurrency, and transfers the rewards it collects to a central pool, which is converted to US dollars and donated to The Bronx Freedom Fund. To accumulate cryptocurrencies such as Monero, users must “mine” it using a computer’s processor. Once installed on a user’s computer, Bail Bloc uses a small amount of the computer’s power to mine for Monero in the background, so daily use of the computer is unaffected. Hunter Horsley (28) Hunter Horsley, 28, CEO of Bitwise Asset Management, is trying to build the Vanguard of cryptocurrencies. Bitwise’s four cryptocurrency indices are currently used by over 600 multifamily offices. Last year his company introduced a private index fund that they have been operating on. In July, during the Fast Money conference, he said: “In our experience operating the (investment) vehicle — dealing with the questions around custody, dealing with all the trading partners, striking the NAV (Net Asset Value) daily, audits, tax, hard forks, airdrops (etc.) — we feel that it is possible to effectively operate an index vehicle.” Horsley keep trying to bring attention to the fact that the industry is far from a single-sided coin, saying: “They (investors) think that something promising could come out of public blockchains. A cryptocurrency may emerge that may be really valuable and an index is a way of capturing that. I think that a lot of the focal point around public registered products, like ETFs, has been on Bitcoin because there’s a narrative that Bitcoin is the digital gold.” Forbes vs Blockchain The Forbes 30-Under-30 list is yet another indication of the growing influence of cryptocurrency and blockchain technology as it expands from being a niche area of Fintech into an industrial heavyweight in its own right. Last month, we mentioned that this business media giant, has announced its partnership with Civil, blockchain-based journalism platform. The partnership will make Forbes the first major media organization to commit to regularly publishing content to the blockchain.

11 hours ago

@EllipticHerb We are doing the precise opposite of exposing ...

@EllipticHerb We are doing the precise opposite of exposing people to Tether - we offer interest that is on the dol… https://t.co/4aJHhqAuvx

20 hours ago

MEDX Listed on Bittrex International

MediBloc announced on its blog that their ERC20 token, MEDX had been listed on Bittrex International. Bittrex International reportedly is based in Malta, which allows non-US citizens to join the platform and trade. There are more than 200 tokens on its platform, including BTC, USDT, TUSD, ETH, etc. Besides, MediBloc noted that 1 MEDX would be swapped to 0.5 mainnet coins at the time of their mainnet launch. (RL)

a day ago

Another Stablecoin as New Zealand plans to relaunch New Zealand Dollar Token (NZDT)

The frenzy around Stablecoins doesn’t seem to be ending as of now every exchange or business just needs to have piece of it. While all leading crypto supportive countries have announced their plan for Stablecoins, New Zealand doesn’t want to stay far behind in this race as it plans to relaunch it New Zealand Dollar pegged New Zealand Dollar Token (NZDT) NZDT don’t want to repeat its mistakes of 2017 In May 2017 Cryptopia, New Zealand’s largest cryptocurrency exchange launched the ‘NZed’ (Code NZDT), the first cryptocurrency token tethered to the New Zealand dollar. The move had come after several speakers at the blockchain conference, including Xero’s Grant Anderson, raised the need for Kiwis to have a crypto-based New Zealand dollar. This quick step driven by excitement led Cryptopia to commit an error. The launched stablecoin was unregulated and had applied for no licenses. Due to this, it was eventually delisted from Cryptopia - New Zealand’s most popular crypto exchange - and the project was put on hold. However, things seem to be changing now for as Cryptopia has been working closely with the government to help educate the members and ensure that they are fine with the stablecoin before it’s launched. This will mean that the NZDT will have full support and backing of the government and it’s highly likely that the stablecoin accounts will be audited with the results being publicized. This were very different then as the government of New Zealand was stuck in an unsure state over the crypto market as a whole, and this led to the NZDT being pulled from Cryptopia. In fact, the government was very close to passing a bill preventing any crypto activity from happening in the country, but it decided not to pass the bill at the last minute. From there, the government has worked closely with the Australian government and it’s slowly changing its stance towards cryptos to become more favorable of the digital assets. Govt. backed stable coins rising in numbers If this relaunch comes out to be good and government-backed, this stablecoin could achieve never heights of where it had left out in 2017 before being pulled out of the exchange. According to the numbers then When the NZDT was in full swing, its popularity saw over $1 million NZD being transferred into NZDT every day. All a user had to do was create an account, send their fiat into Cryptopia’s bank account and it instantly issued the user with NZDT. Its efficiency helped it grow to a become behemoth of a market within only four months from its initial launch. While Cryptopia is still working on the relaunch it has one eye on the checklist of mistakes that Tether had committed. It would definitely want to avoid those in order to be successful. Tether was one of the most popular USD stablecoins on the market, but it ran into some trouble. Undisclosed banking information combined with reports of market manipulation have hurt Tether’s price. Cryptopia would definitely want to avoid that. Banking partners are vital in order for Cryptopia and the NZDT to prosper, and picking the wrong bank can doom the project from day one. The NZDT will once again give citizens from New Zealand an easy entry into crypto markets, without the need for using a different fiat currency to get started. Hopefully, Cryptopia and the NZDT hit the ground running. Will NZDT be able to hold background and ride the ladder of success again from where it had left? Do let us know your views on the same The post Another Stablecoin as New Zealand plans to relaunch New Zealand Dollar Token (NZDT) appeared first on Coingape.

a day ago

What Is NEM? Introduction To XEM

What Is NEM? NEM is a dual-layer blockchain similar to Ethereum but written in Java, a popular computer programming language. Launched on March 31, 2015, the NEM mainnet supports multiple ledgers on its cryptocurrency layer, and the NEM Smart Assets layer supports mosaics to represent any store of value. NEM’s proprietary crypto coin is XEM, which is harvested (mined) using a Proof-of-Importance algorithm. (NEM, by the way, stands for New Economy Movement.) Introduction To NEM What makes NEM so powerful is the Smart Asset System. Nodes on the NEM blockchain process API calls, which makes it easy to develop for, whether the dApp accesses NEM’s API directly, through a server, or in the background. Basically NEM built a blockchain-based cloud platform with a NEM Infrastructure Server (NIS) made of secure, decentralized processing nodes on one side and a client side, like the NEM Community Client (NCC), which acts as a gateway. Of course, it’s not all roses and rainbows for NEM - in January 2018 when all eyes were on the crypto market’s meteoric price spike, Japan-based crypto exchange Coincheck was hacked, and 523 million XEM coins were stolen, worth over $500 million at the time, and now worth a tenth of what it was at its peak. Before exploring whether this structure will make blockchain palatable for the general market, let’s research the market performance of XEM, NEM’s proprietary crypto coin, on the cryptocurrency market. XEM Crypto Market Performance The peak price so far of XEM was $1.92 on January 3, 2018. As mentioned above, XEM isn’t “mined” or “staked” like a traditional currency using PoW or PoS consensus algorithms. Instead XEM is “harvested” through PoI, which works more like a company pension plan than an interest-bearing savings account (which PoS cryptocurrencies like Tezos resemble). To begin vesting coins, you must place at least 10,000 XEM coins in an approved XEM wallet, which start out as unvested. As you hodl the required XEM balance over time, your coins begin to vest toward your importance and pay dividends. The longer you hodl more XEM, the higher your importance to the network, but you’re also rewarded for participating on the network by exchanging coins with other users. So instead of simply putting your money in the bank and gaining passive interest, you’re incentivized to support the network in more of a profit-share model. That’s how pension plans used to work, for everyone born in the cost-cutting era where they’re endangered in the wild. This hybrid model lets anyone participate as a node, regardless of hardware power, relieving one of the biggest pain points in blockchain. It also prevents anyone from buying control of the network, since time and participation are factors, much like Google search ranking algorithms. Processing nodes are verified using a custom Eigentrust++ reputation algorithm. As a node turns in positive information, its reputation increases among other nodes. Approximately $50,000,000 worth of XEM is traded on a daily basis. Exchanges that accept XEM include Binance, Upbit, Zaif, Poloniex, Kryptono, and Exrates. BTC is its most popular trading pair, although other XEM trading pairs include ETH, USDT, and even fiat currencies like USD. And don’t forget not to store your XEM in exchanges - instead, keep it in the official NEM Nano wallet for desktop and mobile OS. This is where they’ll start vesting. Building a Better Ethereum While NEM/XEM certainly doesn’t sound more user-friendly than Ethereum by virtue of its acronymic name, but that was certainly the goal when Bitcoin Talk forum user UtopianFuture proposed the initial framework. Instead of forking from NXT, a full blockchain was built from the ground-up. NEM was built to resemble the current internet, with namespace domains and subdomains assigned similar to ICANN’s internet domain name system. This alone makes it much more appealing to both developers and users. In addition, the multisignature functionality (shortened to multisig) to control what’s ultimately broadcast to the blockchain and written to the decentralized digital ledger. The blockchain community built NEM, so it is definitely a blockchain of the people and for the people. Of course, as with most community projects, marketing isn’t NEM’s strong suit. This solid technical foundation doesn’t have the massive enterprise support other blockchain projects do yet. But that doesn’t mean NEM is dead in the water. In fact, it does have a partnership with Tech Bureau that created Mijin, an institutional banking platform. It also built an ICO platform on the NEM network and several community-created projects jumpstarted development of the NEM ecosystem. There are over 20 projects in various stages of development on NEM so far, including a privacy coin called Eroiy, an Australian tourism project called TravelByBit, and even integration with Pundi X. NEM has strong support in Singapore and Australia, but China isn’t a fan. The NEM.io Foundation’

a day ago

Tether Price Analysis: Stablecoin Tether [USDT] Fails to Remain Pegged to USD

The widely used and controversial stablecoin, USD Tether (USDT), is struggling to remain pegged to the USD. A few weeks ago, USDT crashed against the USD and reached a low of 0.85. Many exchanges price their assets against USDT, and this event resulted in the prices of these exchanges trading at a premium. USDT had since begun to recover but the price action of the last week shows the stablecoin once again starting to decline. The value of the coin currently trades around 0.97 against the USD, and there is much fear of a similar drop to the one we had seen when USDT crashed to 0.85. USDT Versus USD Daily Chart - Source: Tradingview.com The stablecoin is used for pairing against cryptocurrencies on many major exchanges such as Bitfinex and Binance. There has been speculation as to the reason for the drops. One theory was that large traders referred to as whales dumped significant amounts of USDT into the market believing that market prices are reaching a bottom and changing their exposure from USD to cryptocurrency. Another theory is that the company behind USDT do not have the USD to back up the USDT and this is the reason it is losing its value. There have been numerous competitors entering the market such as True USD (TUSD), The Gemini Dollar, and USD Circle. Going forward, we may see a competitor to USDT become the most widely used as USDT seems to be struggling to maintain its peg to the USD. Key Takeaways: USDT crashed against the USD to 0.85 weeks ago and had begun to recover. Over the past week, USDT has begun falling again and is currently trading at 0.97. It looks likely to fall further. Numerous competitors to USDT have launched, and a continued failure to remain pegged may result in a new stablecoin becoming the most widely used. 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. Tether Price Analysis: Stablecoin Tether [USDT] Fails to Remain Pegged to USD was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a day ago

Markets Update: Bitcoin Cash Price Rally Stalls but Trade Volume Spikes Hard

There are less than two days left until the Bitcoin Cash (BCH) network faces a contentious hard fork and BCH markets are showing some unusual activity. They are being driven by heavy trading volumes that have doubled in the last two days, while BCH/USD short positions on Bitfinex have touched an all-time high. At the moment, bitcoin cash is trading for $529 per coin with more than $900 million worth of global swaps in the last 24 hours. Also read: Cryptocurrency ATM Growth Spikes Exponentially to 4,000 Machines Worldwide Cryptocurrency Rally Stalls As news.Bitcoin.com stated during our last markets update, all eyes are on bitcoin cash prices before the pending fork and this is still the case. On Tuesday, Nov. 13, the overall cryptocurrency economy is valued around $214 billion with over $13.3 billion in global trade volume over the last day. Currently, bitcoin core (BTC) prices are hovering around $6,359 with a market valuation of about $110.4 billion. BTC prices are down 0.64% over the last 24 hours and down 0.95% for the last seven days. The second highest valued market held by ethereum (ETH) is valued at $21.5 billion today and one ETH is swapping for $209. Ripple (XRP) has dipped in value as well and the token is down 0.12% over the last 24 hours. Spot markets show one XRP is trading for $0.52 and ripple trade volume is around $579 million. Lastly, stellar (XLM) markets are down quite a bit as markets have lost over 3% today and one XLM is trading for $0.26. Top 10 digital asset markets on Nov. 13, 2018, 12:00 p.m. EST. Bitcoin Cash (BCH) Market Action Even though it looks as though some of last week’s BCH spurred digital asset rally has stalled, a lot is going on behind the scenes. One BCH is trading for $527 per coin and the total market valuation is around $9.9 billion this Tuesday. According to statistics, bitcoin cash has the fourth largest trade volume just below tether (USDT) and ETH. This is because BCH trade volume has spiked considerably over the last day as the 24-hour volume is steadily approaching $1 billion. The trading platforms swapping the most BCH today include Lbank, Okex, Binance, Hitbtc, and Bitfinex. BTC is the largest pair trading with BCH and captures 39.5% of the market. This is followed by USDT (30.9%), USD (12.4%), ETH (7.1%), and QC (3.8%). Bitcoin cash daily chart on Nov. 13, 2018, at 12:00 p.m. EST. BCH/USD Technical Indicators Looking at the BCH/USD 4-hour chart and the daily on Bitfinex and Bitstamp shows BCH bears have managed to push the bitcoin cash price down and suppress the value over the last few hours. Similar to our last markets update, the short term 100 Simple Moving Average (SMA) is still well above the long-term 200 SMA trendline. This confirms the path toward the least resistance is still the upside at the time of writing. On the 4-hour chart, the Relative Strength Index oscillator is meandering in the middle (44-56) and not giving much indication toward the next move. BCH/USD Bitfinex 4-hour. Nov. 13, 2018. Order books show bulls need to surpass the current suppression and prices above the $560 range to gain some more leeway. On the backside, order books show some solid foundations between the current vantage point and $485. Again, there is a massive buy wall at $445 which could hold for a decent period of time. However, the moving averages and current MACd show things may not be so dismal in the short term and the massive trade volume injected in the BCH ecosystem in the last 24 hours suggests a quick and unexpected trend change could definitely be in the cards. BCH/USD 30-min. on Bitstamp. Nov. 13, 2018. Chain Split Token Markets and Short Positions As mentioned above, the clock is ticking towards the pending Bitcoin Cash network fork slated for Thursday, Nov. 15. Additionally, BCH/USD short positions on Bitfinex are still riding extremely high at the moment with people betting the currency’s value will plummet. Yet some traders believe the massive BCH daily trade volume coupled with short positions at an all-time high is a recipe for danger for margin traders without equity and many short positions could get “rekt.” BCH/USD short positions on Bitfinex. Nov. 13, 2018. Many traders have also been watching the BCH futures markets on Poloniex with BCH-ABC and BCH-SV being swapped against USDC and BTC pairs. At the moment, BCH-ABC is trading for $385, USDC and BCH-SV is around $139 per token. Moreover, Bitfinex has announced introducing new “chain split tokens” (CSTs) on Nov. 13 allowing traders to swap futures with the CSTs that have the dedicated ABC and SV symbols “BAB” (ABC implementation) and “BSV” (SV implementation). It’s safe to say that lots of eyes will continue to remain focused on the BCH market activity and possible reaction before the fork. Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below. Disclaimer: Price articles and markets updates are intended for informational

a day ago

Cryptocurrency Researchers Diar Expand Data Platform to Cover ETH and Stablecoins

One of the cryptocurrency industry’s leading research groups, Diar, has announced that it will be expanding its coverage of the digital asset space going forward. Amongst the additional areas focused upon in future editions will be the Ethereum ecosystem, along with the ever-expanding list of stablecoins such as Tether and the Gemini Dollar. Diar to Extend Its Coverage of the Digital Asset Industry In its short existence, the Diar cryptocurrency journal has become one of the most respected resources in the digital asset industry. Its weekly newsletters provide extensive coverage of Bitcoin, the institutional interest in the space, and a select number of cryptocurrency trading platforms. Countless publications, including NewsBTC, reference the work of Diar when creating their own content. Going forward, Diar will be focusing on Ethereum, stablecoins, blockchain lending, global markets, and other areas not specified by name. Fadi Aboualfa, the publication’s founder and editor-in-chief, announced the decision via a post taking the position of the usual weekly newsletter yesterday. The Diar cryptocurrency journal was started just over a year ago in late October 2017. According to the post, it was designed “to become a benchmark resource for long-term perspectives” on digital currencies. Aboualfa stated that, going forward, Diar will continue to cover the same kind of topics as those featured previously, with the addition of the extra areas previously mentioned. This should better position those creating content for the service to continue to deliver on the publication’s stated goals: “The intent of the platform is to provide an economic health outlook and state-of-play for the many moving parts of the digital assets industry.” Diar have also appealed to their readership to provide feedback on their coverage of the digital currency space. Those wanting to give comments or suggestions are encouraged to email the publication. Finally, Aboualfa expressed thanks to some of the main contributors of data to the Diar platform. These included: Coin API, Nomics, Blockchain, Blockchair, and Coinmetrics. Related Reading: Diar Report Reveals 30% of Bitcoin Supply is Lost or Yet to be Mined A Blessing for the Industry? As one of the most trusted and impartial publications covering cryptocurrency at present, Diar’s decision to expand its area of focus will impact more than just the digital asset investment space. Many publications, NewsBTC included, have cited the work of Diar’s team previously. Their research has been used to inform articles on a huge number of stories ranging from the number of active Bitcoin wallets to the issues surrounding controversial Bitcoin trading tool U.S. Dollar Tether. The news of the platform’s expansion will certainly impact on our own ability to cover the digital asset space and we look forward to continuing to use the valuable service offered by Diar to provide insight on a wider range of topics going forward. Featured image from Shutterstock. The post Cryptocurrency Researchers Diar Expand Data Platform to Cover ETH and Stablecoins appeared first on NewsBTC.

a day ago

Earn 6.5% interest on Tether (USDT), TrueUSD (TUSD), Gemini ...

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2 days ago

Tron [TRX] cross 4 million in block height; gains additional support with Blockport listing

Tron [TRX], the eleventh-biggest cryptocurrency by market cap, has crossed another milestone since the launch of the Tron Virtual Machine [TVM]. This time, it has made a mark by surpassing 4 million mark in terms of the block height. Justin Sun, the CEO and Founder of Tron Foundation announced on Twitter: “#TRON reaches 4 milliom block height! #TRX $TRX” Tron [TRX] block height | Source: TronScanGenerally, a blockchain has a series of blocks, the very first block is known as the genesis block. The genesis block has a block height of zero. Moreover, the blocks contain data units which store information of the transactions that takes place on the network. X-Wing, a Twitterati said: “Towering above the competition #TRON #TRX” YOTCOIN, another Twitterati said: “Living up to what the believers in Blockchain would like to believe in. p2p economy :)” Moreover, the coin was recently listed on Blockport, a cryptocurrency exchange that allows users to buy, sell and trade cryptocurrencies with Euro. The cryptocurrency has now gained the support for trading alongside Euro, with the support of this exchange platform. Blockport announced on their official portal: “Of equal importance is that Tron’s European community will now have direct access to the TRX token through our user-friendly exchange and trading platform.” However, the community continues to be stressed about the lack of positive price action. According to CoinMarketCap, the cryptocurrency was trading at $0.022 with a market cap of over $1 billion. The trade volume of the coin was $54 million and had slumped by 3.80% in the past seven days. The highest trade volume of the coin was pouring in from BitForex with TRX/ USDT pair. It was followed by OKEx with TRX/ USDT pair, Binance with TRX/USDT pair, and Huobi with TRX/ USDT pair. Sveinung Hereid, a Twitterati said: “Do you ever think about your HODL’ers @justinsuntron ? Looks like this is the top value the coin will ever reach. Not a single thing so far can prove otherwise. Still u hype us along making only your self rich.. its....sad.” The post Tron [TRX] cross 4 million in block height; gains additional support with Blockport listing appeared first on AMBCrypto.

2 days ago

Bitfinex: New Fee Policy Suggests $30,000 Fee to Withdraw $1 Million

Cryptocurrency exchange platform Bitfinex recently released an updated fee structure for fiat withdrawals. The twelfth-largest exchange also revealed that it processed more $1 billion in fiat withdrawals throughout October 2018. Three Percent In an announcement published on the platform’s website on Sunday (November 11, 2018), Bitfinex revealed its new fee structure. According to the statement, customers making more than $1 million, or two fiat withdrawals within any 30-day period, will incur a three percent fee. New high frequency/size wire withdrawals fee released, more info here https://t.co/c8FbmS18Rl — Bitfinex (@bitfinex) November 11, 2018 However, Bitfinex says the new fee paradigm will not affect 99 percent of the platform’s customers. According to the announcement, most of the withdrawals handled by the platform don’t come close to the thresholds specified in the new fee structure. It is worth noting that the platform’s new fee structure means that a $1 million fiat withdrawal will cost $30,000 in fees. Many cryptocurrency trading platforms either offer zero withdrawals fees or a tiered fee structure for fiat withdrawals. Even the ones that do charge flat fees come nowhere close to three percent. This announcement comes amid a flurry of complaints by platform users about delays experienced during fiat withdrawals. Several customers have taken to Reddit to complain of the lingering fiat withdrawal palaver on the platform. While complaints persist, Bitfinex says it remains the primary fiat conduit for the cryptocurrency trading market. According to the announcement, the platform processed more than $1 billion in fiat withdrawals for October 2018. Moving Beyond Banking Controversy On the surface, this announcement is likely to raise several eyebrows — most especially considering the troubles faced by the platform in recent times. After the collapse of Noble Bank, both Bitfinex and Tether (USDT) — which share the same management — got dragged into a drawn-out controversy over providing their solvency by announcing new banking partners. At the start of November, Tether announced its new banking partnership with Bahamas-based Deltec Bank & Trust Limited. Addressing this issue, a portion of the announcement reads: Our banking remains stable, but we must prioritize our long-standing and loyal customers using the platform so that they can continue to benefit from our truly unique offering, the benefits of which extend far beyond our users and include many crypto-to-crypto and crypto-to-stablecoins exchanges. Bitfinex also took aim at “powerful forces looking to harm the global cryptocurrency market.” According to the announcement, the platform plans to do all that it can to continue functioning, despite the concerted efforts of said powerful sources. In October, the platform also used similar rhetoric about a stream of negative press about its operation. At the time, Bitfinex dubbed them “watchful investigators” waiting for the collapse of the cryptocurrency industry. Do you think the new fiat withdrawal fee paradigm announced by Bitfinex is fair? Let us know your thoughts in the comment section below. Image courtesy of Twitter. The post Bitfinex: New Fee Policy Suggests $30,000 Fee to Withdraw $1 Million appeared first on Bitcoinist.com.

2 days ago

XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency

Stellar Lumens has overtaken Ripple’s XRP to become the fourth most-traded asset on Binance. XLM has been consistently on the news last week with a barrage of announcements as it overtook EOS and became the fifth-largest cryptocurrency [by volume]. Source: Trading View XLM is now the fourth most-traded asset on Binance, just after Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH]. However, XLM’s current trading volume on Binance exchange for XLM/BTC pair is $27.21 million, while XRP’s trade volume for XRP/BTC pair is $19.65 million. Moreover, the XLM/USDT trading volume is $12.76 million while that of XRP/USDT is $13.79 million. Cumulatively, the XLM trading volume comes up to $40.33 million while that of XRP is $33.06 million. Bitcoin Cash [BCH] is currently the number one against the BTC trading pair, with trading volume of $62.29 million, and has a trading volume of $38.99 million with USDT pair. Bitcoin paired with USDT has a trading volume of $62.14 million and contributes a total of 11.40% of the total trades on Binance, while BCH contributes a total of $101.14 million in trading volume which is 18.59% of the total trades. Ethereum [ETH] has a total of $48.22 million in trade while, which is 8.85% of the total trading volume. The Ethereum ETH/BTC pair contributes $20.054 while that of ETH/USDT contributes $28.16 million. Stellar Lumens recently overtook EOS, which was at the fifth spot for the longest time. The trade volume of XLM, in a seven-day time frame, increased by an astronomical 125% to reach $121.88 million from a mere $54.07 million, while EOS’ market cap reduced to $4.89 billion. The post XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency appeared first on AMBCrypto.

2 days ago

Daily Berminal Brief: Bitcoin Struggles to Stay Above $6,500 and Upbit will Launch Crypto-Exchanges in Indonesia and Thailand

The State of The Market - November 12, 2018 BTC: $6,389.48 (+0.29%) ETH: $210.90 (+0.56%) XRP: $0.5186 (+3.70%) The overall cryptocurrency market continues to trade within a relatively tight range. Bitcoin dropped below $6,500 again and Ethereum pulled back slightly but still trades above $210. XRP is one of the few tokens showing bullish behavior and the altcoin currently trades above $0.51. Currently, the total market cap is $212.7 billion. In other news, South Korean crypto exchange Pure Bit conducted an exit scam after raising 13,000 ETH and Cardano, Stellar Lumens, and Zcash are rallying on the possibility of a Coinbase listing. 1) The number of daily transactions carried out on the Bitcoin (BTC) network continues to grow and has nearly reached a ten-month high of 273,672. Data from Blockchain shows that daily transactions peaked at 500,000 during the December 2017 - January 2018 bull run and during the toughest parts of the 2018 bear market daily transactions fell as low as 135,000. Since then daily transactions have nearly doubled and the cost per transaction has also dropped to a 1-year low of $36. 2) South Korea's crypto exchange Upbit is planning to launch cryptocurrency exchanges in Indonesia and Thailand. This follows the recent launch of another exchange in Singapore. Per their website, the new Upbit exchanges will offer more than 240 trading pairs and 130 coins. The exchange was attracted by the crypto friendly regulations in the two countries. Since the implementation of the new name system, the expansion plans of the exchange in the country have been difficult. Therefore, Upbit exchange is expanding its operations globally as it is waiting for the domestic trading environment to change. 3) On Sunday Bitfinex changed its fee structure for high-frequency wire withdrawals by adding a 3 percent commission on all external wire withdrawal requests that exceed the new criteria. The fee will apply to users who either make more than two fiat withdrawals in any thirty day period or those that make more than $1 million in aggregate fiat withdrawals over a thirty day period. The new fee structure will not affect low-frequency wire withdrawals which Bitfinex says makes up the greater amount of their customers. SalesCalc, a fee calculating service, found that the new fee structure is nearly the same as PayPal's and a user hoping to withdrawal $1 million would have to pay $29,000 in fees. Some users believe the new fee structure is a ploy to raise the value of Tether (USDT) back to $1.00. (RS)

3 days ago

Eerily accurate crypto predictions from January 2018

December 2017 - January 2018. Arguably the most amazingly exuberant time in cryptocurrency history - as far a price gains go. At the height of all the action, the air was filled with talks of an “adoption curve“, with possibly no end in sight for such price exuberance. But some predictions from the time are eerily spot on. However, one crypto influencer was far too experienced to believe this type of market would last very long. Ryan Selkis, Aka TwoBitIdiot on Twitter and Medium, published his “95 Crypto Theses for 2018” on January 2nd of this year - and it includes some surprisingly accurate predictions. Here’s a few interesting points. Several Notable Predictions Prediction #2 - “I call it the cryptoasset barbell: cryptocurrencies (sky’s the limit), utility tokens (heading to zero), and “smart securities” (coming soon)”. This appears to be pretty accurate. Tokenized securities seem to be where the crypto market is heading, with September seeing an 80 percent failure rate for ICOs. The above ties in with #7, which in part states - “Crypto-securities aren’t really a thing yet, but they will be massive, and they will actually have measurable fundamental value”. @coinbase CEO @brian_armstrong: "We do feel a substantial subset of these tokens will be securities...we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.” #SecurityTokens https://t.co/YwbGdNhVh4 — Security Token (@security_token) September 8, 2018 At this stage, it’s a logical question to wonder the actual value of utility tokens, in that they don’t necessarily gain value based on the performance of the underlying company in the same way stocks do. Tying in with prediction #5, - “Most utility tokens, then, will go to zero, regardless of team quality and execution. You simply don’t need to hold them but for momentum & greater fool investing. When the market lacks “higher order” investors for speculators to flip to, assets will unwind. Viciously.” Utility tokens are merely incentives. Badges, streaks and points are the same thing. Neither is big on a global scale — Pomp (@APompliano) June 8, 2018 #20 was perhaps one of the most interesting predictions, detailing the major discounts currently seen. Selkis writes - “There is no rhyme or reason to prices in crypto, and there will not be in 2018. Best to embrace that this will be a sentiment-driven market until the crash. Stay safe and embrace the opportunity to sit on the sidelines and do research! There will be gems to swoop up in the coming 99% off sale”. Many crypto assets are still trading at such a discount, as chronicled in Coingape’s article, Crypto Sale: Top Price Gainers Available at >90% Discount From their ATH Prices, published in mid-September. The respectable part of these price predictions is that they was made during two of the most euphoric months in crypto, when it was hard to see past all the positivity. Predictions Still TBD #10 -“BCH is tough to root for, but you have to be long as a hedge. If BCH loses badly, I doubt we’ll ever see on-chain BTC scaling, and Core’s stranglehold on the dev roadmap will be cemented. But if BCH wins, it could take down the whole asset class. Rock. Hard place.” It will be interesting to see how the upcoming Bitcoin Cash fork on November 15 plays into this statement. #18 - “Stablecoins will work until they don’t. Sure, the Basecoin and MakerDAO teams seem strong, but these things will always break under (not so) black swan market conditions. And like the fiat currencies they aim to replace, once they break, they’ll be broken for good.” Seeing stablecoins as the new fad, the market may be in the middle of figuring itself out in this regard. TBD still on this one. Although Tether was pretty broken when it went down to $0.86 per USDT in October. #58 also mentions crypto tax difficulties. “We need better crypto tax solutions. It’s mind-blowingly complex to do all this reporting”. Hopefully the IRS works on this one soon because crypto and taxes are brutal to record for honest tax paying citizens. *Crypto Insider is sponsored in part by Blockmodo. as part of our arrangement with them, Crypto Insider may occasionally link to, and quote, Blockmodo when appropriate. this is done at the discretion of our staff. Crypto Insider sponsors have no say in any of our editorial decisions. The post Eerily accurate crypto predictions from January 2018 appeared first on Crypto Insider.

3 days ago

Withdrawing Fiat from Bitfinex Now Costs Nearly as Much as PayPal

On Sunday Bitfinex changed its fee structure for high-frequency wire withdrawals by adding a 3 percent commission on all external wire withdrawal requests that exceed the new criteria. The fee will apply to users who either make more than two fiat withdrawals in any thirty day period or those that make more than $1 million in aggregate fiat withdrawals over a thirty day period. The new fee structure will not affect low-frequency wire withdrawals which Bitfinex says makes up the greater amount of their customers. SalesCalc, a fee calculating service, found that the ne​w fee structure is nearly the same as PayPal's and a user hoping to withdrawal $1 million would have to pay $29,000 in fees. Some users believe the new fee structure is a ploy to raise the value of Tether (USDT) back to $1.00. (RS)

3 days ago

Withdrawing Crypto to Fiat From Bitfinex Now Costs Close to PayPal

Converting crypto to fiat is not cheap anymore, at least on Bitfinex. The Hong Kong-based digital assets exchange on Sunday updated its fee structure for high-frequency wire withdrawals. It effectively imposed a 3 percent commission cut on all external wire withdrawal requests that would exceed 1) more than two fiat withdrawals in any thirty day period, and 2) more than $1M in aggregate in fiat withdrawals in any thirty day period. Meanwhile, the latest fee structure will not affect low-frequency wire withdrawals which, according to Bitfinex, constitutes 99% of their customers. The update nevertheless has brought the fee tariffs of Bitfinex close to the ones charged by PayPal. According to SalesCalc, an independent fee calculating service, a user would pay circa $29,000 in fees if s/he wants to transact $1 million. Bitfinex, at the same time, would charge an additional $1,000 for wiring the same amount. Source: SalesCalc Users Annoyed The community, for obvious reasons, didn’t receive the Bitfinex update so well, with some even accusing the exchange of intentionally locking the users’ funds. A comment interestingly highlighted how exchanges had dented the idea of financial freedom by acting like banks. “Crypto... amazing for “freedom” of money... until you realize we essentially added an additional f***ing layer of middle-men to the process via exchanges. Exchanges are the “banks” of crypto... and they’re making a killing... just like banks do.” Some comments theorized the Bitfinex announcement as a plot to raise the premium of their partner stablecoin Tether. People willing to come out of Bitfinex would like to do so via crypto. That means the value of Bitcoin and USDT will likely increase artificially on the exchange due to high demand. yeah exactly.I dont know why they think it's a good idea to implement this while the confidence in USDT has been dwindling. Bitfinexed must be laughing so hard now. They are killing themselves — Squeeze (@cryptoSqueeze) November 12, 2018 Another trader said: It seems they just don't want their users to cash out with Fiat, I wonder, how are the crypto widthdrawals are those ok? if that's the case BTC will rise a little but due to people exiting their cash for BTC on Bitfinex — Sebastian Velandia (@BastianVelandia) November 12, 2018 Withdrawals Stuck Plenty of Bitfinex users are already storming the social network with complaints about the exchange’s withdrawal process. Many have posted copies of their claims on forums, revealing how their withdrawal requests have not been closed despite several requests. Redditor krJq333, for instance, has accused Bitfinex of holding his GBP funds for over four-weeks already. “The support I’ve received from Bitfinex this week has been nothing short of abysmal,” he wrote. ” Does Bitfinex have any idea how much stress and anxiety they’re causing their customers here?” Just last month, a whale who traded over 100 million dollars worth of crypto-assets on BitFinex had complained about not being able to move his funds. The post Withdrawing Crypto to Fiat From Bitfinex Now Costs Close to PayPal appeared first on NewsBTC.

3 days ago

Stablecoins Are ‘The Craze Right Now,’ CoinJar Co-Founder Says

CoinJar co-founder Asher Tan says the subject of stablecoins is beginning to gain prominence in the cryptocurrency narrative. Many stakeholders in the digital currency space believe stablecoins may be the next big thing in the industry. Stablecoins are the Future Stablecoins remain regular fixture in the cryptocurrency news circuit. From the controversy surrounding Tether (USDT) — the most popular of all the stable coins — to the launch of other variants, the subject is hardly ever far from the news. Speaking to Financial Review about stablecoins, Tan said: The interesting thing right now, what’s on everyone’s lips, is what you call a stablecoin. A stablecoin is a coin pegged to a currency, usually the US dollar. It’s a craze right now. It helps you transfer money around the crypto ecosystem at a stable rate. But there’s a whole lot of applications or use-cases that could come out of it. For Tan, the allure with this emerging class of digital currency comes from the ability to digitize fiat. Thus, the CoinJar co-founder sees a future where the platform adopts stablecoins in some capacity. While there is palpable excitement in some quarters, stablecoins aren’t without their critics. Some argue that fiat-pegged digital cannot be classified as a cryptocurrency. Crypto-purists majorly fault the lack of decentralization in the core fiat-pegged digital currency framework, which opens the doors to censorship and lack of neutrality. Japan’s Financial Services Agency (FSA) recently supporting this, stating that stablecoins weren’t cryptocurrencies. The country’s cryptocurrency self-regulatory body - the JVCEA, even stated that it couldn’t regulate stablecoins, ceding the responsibility back to the FSA. Global Cryptocurrency Regulatory Arbitrage Commenting on the state of the global cryptocurrency market, Tan acknowledged the presence of regulatory arbitrage and its role in shaping the narrative in each region of the world. Tan regards that, despite the appearance of massive trading volume in Asia, the lack of a single-market regime causes fragmentation. He identified Europe as the ideal location for expansion, rather than the United States or Asia. For Tan, CoinJar stands a lot to benefit from the permissive attitude towards regulation that exists in the region. According to him, a European expansion requires knowledge of the prevailing rules and finding ways to work with them efficiently. Do you think stablecoins have the potential to shape the course of the virtual currency movement in years to come? Let us know your thoughts in the comment section below. Images courtesy of Shutterstock, Twitter (@ashertn). The post Stablecoins Are ‘The Craze Right Now,’ CoinJar Co-Founder Says appeared first on Bitcoinist.com.

3 days ago

Monero (XMR) topples Tether (USDT), BAT falls further by 6%

Something interesting has been going on in the cryptocurrency market in the last 24hrs. Monero (XMR) as of yesterday was the world’s tenth largest cryptocurrency token, in a twist of events in a 24hr time period, the token has not only squashed its opponent Tether (USDT) to become the ninth largest cryptocurrency bay a large margin but has also attained an impressive price volume while it gathers momentum to overthrow its next competitor. As of Nov 11th, Monero had descended by 2.67% and was trading at a price of $103.36. Right above Monero, Tether’s trading price sat at $0.998064 after attaining slight gains of 0.38%. It didn’t take too long for Monroe to crawl its way up once its trading volume began to swell. The token moved up by a percentage of 2.10, pushing its trading price to $105.80. An upsurge in trading volume kicked Monero’s marketcap from $1.71 billion to $1.75 billion against Tether token whose market cap was at $1.77 billion but has now declined to $1.69 billion. Traders from exchange giants Binance and Bithumb can be credited for the token’s current trading price. Bithumb trading pairs against the South Korean Won (KRW) totaled at $530.49 million, while Binance trading pairs of Monero against Bitcoin rounded up at $4.30 million. Cardano (Ada) which has fallen by 1.61% might be knocked out by Monero as the token continues to skyrocket. Meanwhile, BAT has continued to suffer huge losses since its listing on both CoinbasePro and Coinbase.com. The token has moved from the 29th spot in the last seven days to sit at the 34th position. From a trading price of $0.316637 upon Pro’s listing, BAT now trades at $0.249006 as of this writing. Declining by 4.43% in the last 24hrs, BAT is still struggling to maintain stability. The post Monero (XMR) topples Tether (USDT), BAT falls further by 6% appeared first on ZyCrypto.

3 days ago

Amid Confusion Asher Tan, Founder Coinjar, Asserts Stablecoins As Next Big Thing in Crypto World

Stablecoins have become a buzzword for a few months now and everyone is trying to get a piece of this rising demand be it exchange wallets and even other business. A lot of people on the street believe that they are fads but not Asher Tan, the founder of Melbourne-based bitcoin exchange CoinJar, who believes ‘stablecoin’ as the next big thing in cryptocurrency and are here to stay Tan sees a lot of money and expertise gravitating towards stablecoins lately. Stablecoins a FUD or beginning of a new economic era Asher Tan, one of founders of Melbourne-based bitcoin exchange CoinJar, moved to London leaving behind his co-founder Ryan Zhou in charge of the day-to-day running of CoinJar and its 400,000 customers to see and understand what been brewing in the crypto world on the western side. Since then he has been attending conferences, meeting fintech companies, bankers, venture capitalists and the like, and asking lots of questions. And after all of this over the period of 8 months since he moved to London, he has picked up that stablecoins could be the next big thing in cryptos. He was quoted by Financial Review Australia saying “The interesting thing right now, what’s on everyone’s lips, is what you call a stablecoin. A stablecoin is a coin pegged to a currency, usually the US dollar. It’s a craze right now, It helps you transfer money around the crypto ecosystem at a stable rate. But there’s a whole lot of applications or use-cases that could come out of it.” The idea of Stablecoin has been over a year old now since the launch of Tether but Tan says it’s only lately that money and expertise have started to gravitate towards it. He reckons some of the big-name venture capitalists are coming in, and that geeks are seduced by it. He also says stablecoins are not really easy to be issued and are potentially complex for any of the startups. According to him, some stablecoin creators have taken the simple approach of storing the equivalent amount of dollars and offering a tokenized version of that amount (the “custody model” or “collateralized approach” favored by, say, Japanese banks). But others are trying to engineer sophisticated, decentralized, algorithmic ways of maintaining the peg. London to become the hub for stablecoin adoption He also points that London is seeing a lot of activity around cryptos and stablecoins. To quote him again “In London, I see a lot of finance people getting into it. People with 10, 20 years of forex experience are trying their hand at it. It’s drawing a lot of people from traditional financial circles, just because it’s interesting, it’s intriguing, there’s a lot of upside to it.” Although London is an acknowledged hub for tech start-ups these days, particularly fintech, it still seems surprising to see Tan pick Europe as a target for expansion rather than booming Asia or the silicon-friendly US. The reason, it turns out, is as much to do with regulation and culture as with commerce. While Asher has picked up some good ground level research to draw his conclusions on stablecoins, it’s still a long way to see where stablecoins exactly fit in the world of cryptocurrencies. Will, they just help traders soak volatility or will they have a much wider role in years to come. What is your view on stablecoins and their roles going forward? Do let us know your views on the same The post Amid Confusion Asher Tan, Founder Coinjar, Asserts Stablecoins As Next Big Thing in Crypto World appeared first on Coingape.

3 days ago

Brazilian Trader Says Bitfinex Exchange is MT.GOX 2.0

A trader who considers himself to be a Bitcoin maximalist just drew out his list of reasons why Bitcoin has a bearish forecast. Among his reasons, he claims that “Bitfinex is Mt Gox 2.0.” Mt. Gox used to be the biggest Bitcoin exchange in the world until they went under after 850,000 of their customers’ Bitcoin were either lost or stolen. Later, Mt. Gox stopped their operations and filed for bankruptcy. There was also fear that Mt. Gox’s legal troubles would cause 160,000 Bitcoins that had been sitting dormant due to hit the market at once and cause a significant crash. Over the last months, Bitfinex has faced a similar situation including accusations of fraudulent behaviors. Many users of Bitfinex have reported not being able to move money out of the exchange and back in October word was circulating on social media that a “whale” who trades over 100 million dollars on the exchange monthly couldn’t move funds. There was also an issue with nearly a billion in USDT being removed from Bitfinex making many questions if the exchange is involved in unethical exit schemes. The combination of frozen assets and questions surrounding the exchange’s USDT supply caused a lot of chatter that Bitfinex could be covering up something unsavory and another Mt. Gox circumstance could be at hand. He says with his analysis he can only deduct that Bitfinex is guilty of the same crimes as Mt. Gox. “Now it’s up to FBI and anti-money laundering agencies, it’s just a matter of time. And please don’t say: ‘Oh, they have less than 20% of Bitcoin’s volume” or “Tether is less than 2% of Bitcoin’s market cap’. Non-fiat exchanges have their hands tied until Tether basically becomes irrelevant but they clearly don’t have the intention to kill it anytime soon.” Ultimately, the trader concludes that there are no guarantees in the crypto space. “Right now Bitcoin = Investment = Risk.” “It has all the necessary ingredients to become a perfect store of value and future MoE, but right now it just isn’t just there yet. If you are running away from inflation you are most likely also running away from risk. Bitcoin will not have a sustainable inflow until we clear up this mess.” While there is still so much promise in the technology, many, like this trader think the cryptocurrency sector is simply too young to be able to make any clear predictions on its future. The post Brazilian Trader Says Bitfinex Exchange is MT.GOX 2.0 appeared first on ZyCrypto.

4 days ago

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork

Since our last markets update five days ago, a lot has changed as a good chunk of the top cryptocurrency markets have dipped in value over the last three and a half days. Bitcoin cash markets touched a high of $638 on Wednesday, Nov. 7, but now prices are hovering around $544 per BCH on Sunday, Nov. 11. Also read: Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks Digital Assets See Some Slight Losses Over the Last Three Days Cryptocurrency markets have had an interesting week after a long period of boring price action and stability. Last week bitcoin cash markets lead the pack out of all 2000+ digital assets, climbing over 51% in value and touching a high of $638 per coin. Digital asset markets, in general, have all seen some slight losses as the top ten cryptocurrencies are down 1-3% except for stellar, cardano and the stablecoin tether. The entire market valuation of the whole crypto-economy is worth $215.9 billion and there’s been $11.5 billion in global trades over the last 24 hours. The top 10 cryptocurrencies on Nov. 10, 2018, at 10:00 a.m. EST. Bitcoin core (BTC) prices are hovering around $6,406 per coin and there’s around $3.7 billion in global BTC trade volume today. Following the BTC action, ethereum (ETH) prices are around $211 per ETH and the cryptocurrency is down 0.3% this weekend. Ripple (XRP) is down 0.9% today and each XRP is being swapped for $0.50 per token. Lastly, eos (EOS) has been officially bumped out of the fifth largest market capitalization and stellar (XLM) has taken its place. Stellar is currently trading for $0.26 per token and markets are up this Sunday 4.5%. Bitcoin Cash (BCH) Market Action The fourth largest market capitalization held by bitcoin cash (BCH) is down 0.5% over the last 24 hours. Data stemming from the last seven days shows BCH is down 1.7% overall for the week. Currently, BCH is trading at an average of $544 per coin with a market valuation of about $9.4 billion. The last 24 hours of trade volume shows BCH markets swapped $641 million this weekend. The top exchanges swapping the most BCH today include Lbank, Okex, Hitbtc, Binance, and Huobi Pro. The trading pairs today dominating BCH markets include USDT (35.2%), BTC (35%), ETH (10.2%), USD (7.7%), and KRW (3.1%). Bitcoin cash (BCH) daily. Nov. 11, 2018. BCH/USD Technical Indicators Looking at the 4-hour charts for BCH/USD on both Bitfinex and Bitstamp shows BCH bears may be feeling some exhaustion in the short term going forward. Currently, there looks like a trend shift is in the cards as the 100 Simple Moving Average (SMA) has crossed above the long-term 200 SMA. This indication is positive for the bulls as the path towards the least resistance is essentially the upside. The Relative Strength Index (RSI) shows things are meandering in the middle (-44.02) but definitely closer to oversold regions. BCH/USD Bitstamp 4-hour at 10:15 a.m. EST. Nov. 11, 2018. The stochastic oscillator indicates a similar reading and the MACd also shows there’s currently room for improvement going forward. Order books show a similar forecast too as bulls need to muster enough strength past the $566 region to gain a lot more momentum, and there will be another pitstop at the $600 zone. On the backside, there is plenty of foundational support at the time of publication between the current vantage point and $495. BCH/USD Bitfinex 4-hour at 10:00 a.m. EST. Nov. 11, 2018. The Verdict: Traders Assume the Pending Fork Will Affect Markets Before, During, and After the Fork Most traders seem positive that the price of BCH will trend higher as the fork approaches due to the memories of prior forks in the past. The 100-day average shows there is a lot of room for improvement over the next four days. Furthermore, BCH/USD short positions are at an all-time high this weekend which means a good majority of traders are betting against a rise. BCH/USD Shorts on Nov. 11, 2018. However, others believe that these traders are setting themselves up for a “big squeeze” and expect prices to spike unexpectedly. With the fork approaching and especially the contentious nature surrounding it, it will likely drive markets in certain directions before, during, and after the network changes. Per usual in crypto-land, bitcoin traders are expecting the unexpected to take place next week and most are just crossing their fingers hoping they chose their positions correctly. Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below. Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Images via Shutterstock, Trading View, and Satoshi Pulse. Want to creat

4 days ago

Less Is More, TAP on the Road to Extreme Simplicity

CoinSpeaker Less Is More, TAP on the Road to Extreme Simplicity The year 2018 is the year of blockchain. The success of Bitcoin, boom of ICOs, and wealth of new exchanges is like Pandora’s Box, luring numerous blockchain fans, venture investors, and experts from all walks of life. Bitcoin has been accepted by the public as a means of value storage, with the market value of a single Bitcoin once exceeding $18,000 USD. This surge in value greatly amplified the importance of cryptocurrency investing. However, trading cryptocurrencies remains difficult for the general public. Policy variations between countries and difficulties exchanging fiat with cryptocurrencies present an ongoing challenge. TAP is a simple, intuitive solution to these problems. TAP: a one-stop shop for cryptocurrency trading TAP offers one-stop services for all cryptocurrency participants, removing financial boundaries by supporting seamless connections with all banks and exchanges. After depositing fiat currency into TAP, users can trade various cryptocurrencies using one app and a single KYC process. Users can also send any crypto asset to anyone, anywhere in world for free and the asset can be used by the recipient instantly. TAP is designed to make cryptocurrency investing accessible to everyone, regardless of their experience or knowledge of the subject. It provides customers with the absolute best price and availability for exchanging various cryptocurrencies, allowing them to grow and manage their portfolios with the push of a button. TAP is the powerful “middleware” that adds an unprecedented level of convenience for the cryptocurrency industry while also providing a physical payment card. This will greatly benefit the cryptocurrency community and help pave the way for adoption. TAP has chosen the path of extreme simplicity, providing a wealth of functionality all within a single app. “Less is more”, however the more simple the product is to use, the more difficult it is to develop. The TAP team faces many obstacles to overcome but the journey will be just as grand as the destination. Meeting the right people: AlphaBit and FBG become key investors Investors are important for all projects, especially those being incubated in the blockchain industry. Investment funds are the pillars of startups and innovative enterprises. The capital of investors and their assistance in management play a critical role. The best investors often act as appraisers and market analyzers who help startups and innovative enterprises choose the best markets for their ideas. Matching the right company with the right investors is crucial to the success of both parties. On October 22, 2018, AlphaBit and FBG Capital became key investors of TAP. AlphaBit is one of the first standardized cryptocurrency funds and the largest in the Middle East. FBG Capital is described by Forbes as “the hottest cryptocurrency fund in Asia”. The investment in TAP from these two key players sparked intense media coverage from platforms such as Yahoo Finance and NASDAQ. Liam Robertson, CEO of AlphaBit said: “We are glad to become one of the key investors of TAP. It is a very important project for the industry. It not only makes cryptocurrency more accessible to new investors but streamlines the operation for existing investors. In addition, the project team has the ability and experience that can truly advance the technology and benefit the entire cryptocurrency community. The project, once finished, will bring benefits to investors.” Development milestone: TAP releases third alpha version of their app With resources in place, focus has now shifted to project fulfillment. Fulfillment is the intrinsic requirement of a project while milestones are staged goals or victories. In other words, milestones are indicators of project progress towards fulfillment. In this regard, TAP is making great process. On October 20, 2018, TAP released the third alpha version of their app and the beta version is expected to be released soon. The main feature of this update is the integration of exchanges. The app will scan all exchanges to locate the best price for the given trade and the middleware will read and exchange the order book. Trades will be split among different exchanges if a better price is achieved this way for users. TAP currently supports four exchanges: Binance, Kraken, BitMax and BITFINEX. Binance, as we all know, is a premium exchange from China and is often hailed “the pride of the Chinese”. Kraken is a Bitcoin exchange with the largest transaction volume in Euros and has now become one of the most dynamic digital currency exchanges in America. BitMax is an emerging exchange with a backfilling mode still in demonstration. The team is made up of individuals from Danhua Capital and Wall Street. Bitfinex is a Hong Kong exchange with the largest BTC-USD transaction volume. Besides token-to-token trades, it also supports direct trading of USD and various digital currencies, as well as le

4 days ago

Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges

CoinSpeaker Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges CoinBene, which is based in Singapore, is one of Asia’s largest cryptocurrency exchange platforms. It is also one of the newer exchange platforms which supports an extensive list of cryptocurrencies, featuring USDT, ETH and BTC. This makes CoinBene an ideal platform for Cryptaur’s “pairs” offering, and leaves it well-poised to achieve its goal of removing the middleman, thereby allowing for total decentralization and demarketization. Dmitry Buriak, CEO and Founder of Cryptaur stated: “For us, adding Coinbene to our portfolio of online exchanges was an absolute must. With the assets we have and the robust platform we’ve created, we are sure that Coinbene traders will enjoy the versatility and ease of use that comes with being a Cryptaur investor.” A Prominent News Presence Cryptaur’s current number of CPT wallet users now stands at a minimum of 90,000 active users and this is indicative of an engaged crypto community. Having announced its partnership with ProximaX and NEM a few days ago, Cryptaur has also enjoyed other recent successes. Last month it announced that it is being recognized as an industry leader via CCN, ABMCrypto and Global Coin Report. Some other strides in Cryptaur’s growth and realization of its 2018 goals have been the launch of debit cards and the launch of the automatic Know Your Customer (KYC) at Fintech United Group. Additionally there is the lottery, gaming platform, the LifeWise Marketplace, Go ICO platform which is already in partnership with Kasko2go, Proverand Equineum. Multiple Offerings The announcement also comes amid a flurry of activity on the Cryptaur ecosystem. The company recently announced multiple dApps for users in the coming months, including titles like the X Game, which allows users to breed virtual avatars using real-world genetics, as well as Agehack and Cryolifebank, Cryptaur also possesses an animation platform called “Cryptoons” and a peer-to-peer microlending service using CPT. According to Buriak: “Once again this shows that there is no limit to what Cryptaur can do. Thus far 2018 has been a great year for us and there is no doubt whatsoever that things will just continue to get bigger and better for us and all of our stakeholders. Cryptaur is a force to reckon with. We are here to stay and to the middlemen out there, you are on your way out! We said we would do it and now we are showing you how we are doing it.” About Cryptaur Founded in 2017, Cyprus-based Cryptaur increases efficiency by eliminating the middleman from a wide range of social and financial transactions. The project’s blockchain-based decentralized ecosystem supports peer-to-peer transactions, pay platforms, online gaming, and more. Cryptaur (CPT) to be Listed on CoinBene, one of Asia’s Largest Cryptocurrency Exchanges

4 days ago

The Daily: Shatner Dives Deep Into Crypto, Bank to Launch Digital Deposit Box

In today’s edition of The Daily, we feature a story about William Shatner flaunting his vast crypto knowledge, from Tether to Kitties. Additionally covered are a bank which wants to offer a digital deposit box for exchanges and investment funds, a new development in the Charlie Shrem lawsuit and more. Also Read: Marshall Islands President Attacked Over National Crypto Plan Tether Blows Captain Kirk’s Mind William Shatner, the original Captain Kirk, wants you to know that he knows his crypto. After admitting back in June that he doesn’t fully understand the bitcoin mining business he was getting into, Shatner has now gone on a tweet storm showing just how much he learned. Besides discussing developments in smart contracts, Shatner also dropped a truth bomb on Tether (USDT). He wrote: “I know how smart contracts work. That’s really not hard. What’s more mind bending is Tether being (supposedly) linked to the dollar but being worth less than a dollar...” Obviously having a lot of fun with this dive into the world of cryptocurrency, the TV star was also happy to engage with fans about Crypto Kitties. And after learning that he can breed them, Shatner joked that he is now waiting for the accessories, “the Crypto Kitty Dream House and the Crypto Kitty Corvette.” Canadian Bank to Launch Deposit Box for Exchanges Versa Bank (previously Pacific & Western Bank of Canada) is a Canadian chartered bank publicly traded on the Toronto Stock Exchange. It announced on Thursday it has completed beta testing for its “digital safety deposit box” and is now starting to offer the new service to cryptocurrency exchanges and crypto-based investment funds. The company states it does not have the ability to ‘drill’ into a client’s deposit box, or to examine its contents. President and CEO David Taylor stated: “While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercializing a first of its kind service that provides our clients with the most sophisticated security and authentication technology available globally, in which our clients enjoy absolute privacy. The Versa Vault will now begin rolling out services to cryptocurrency exchanges and crypto investment funds.” Court Unfreezes Charlie Shrem’s Accounts Earlier this month, it was reported that a U.S. federal court has ordered the freezing of Charlie Shrem’s accounts on Coinbase and Xapo. This was done after he was hit by a lawsuit alleging that the early bitcoin pioneer had stolen about 5,000 BTC from the founders of the Gemini exchange. But in what might be an indication of the merits of the allegations, the court has reversed the asset freezing order in a hearing on Thursday. Now Shrem can go back to his luxury shopping spree, and maybe get a third Maserati. Cryptopay Mail Bomber London’s Metropolitan Police has revealed on Friday that a 43-year-old Swedish man was sentenced to six and a half years in jail for mailing a homemade bomb to a “Bitcoin company.” The Stockholm District Court found Jermu Michael Salonen guilty of attempted murder for sending a bomb to Cryptopay - a UK based crypto wallet and payment solution. According to the Met Police, the motive for Salonen’s actions is that he was locked out of his account, unable to access his funds after losing his password. In August 2017 he asked Cryptopay to reset his password and send him a new one but the company refused as this contravened their privacy policy. Commander Clarke Jarrett, head of the Met Police Counter Terrorism Command, said: “Salonen seemingly made and sent a device that had the capability to seriously harm and even kill over something as inconsequential as a change of password. Fortunately the bomb did not detonate. It was due to sheer luck that the recipient ripped opened the package in the middle rather than using the envelope flap which would have activated the device.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post The Daily: Shatner Dives Deep Into Crypto, Bank to Launch Digital Deposit Box appeared first on Bitcoin News.

4 days ago

How to Buy Cardano (ADA) In Europe - A Case Study About The Best Places to Buy Cardano in EU

Due to our past post about Cardano Price Predictions, we have a few people messaging us and asking us to help them buy Cardano in Europe. We understand that this might be the main concern of many interested buyers. There are a lot of people that aren’t buying Cardano from a safe exchange and they get scammed by people that steal all of their funds or get a much lower quantity of ADA than they should. The main purpose of this article is to educate the beginners and help them choose a respectable exchange to buy ADA. Ways to buy Cardano (ADA) in Europe There are many ways from which you can buy Cardano in Europe. We will create a list with all the best options here and analyze the potential outcome of every scenario. Case #1 - Buying Cardano (ADA) from a friend - This is a great way for a beginner to get started. To get help from a more experienced friend. But, not all of us have that friend and also if you always count on others you won’t be able to do it alone. We don’t recommend this method for beginners as its important to learn the best practices by applying those - not to count on someone else to do it for you. Case #2 - Buying Cardano (ADA) from a Cryptocurrency Exchange - This is actually a great way to get started. Buying Cardano from a cryptocurrency exchange will teach you the basics. You will learn how to create an account on a cryptocurrency exchange, how to fill out a KYC and how to create a market order to purchase ADA. We will talk more about this soon. Case #3 - Buying Cardano (ADA) from a Cryptocurrency buying website - Not the best way to start with ADA. These types of websites purchase ADA from exchanges and sell it to you. They’re basically brokers that are gaining a fee that you pay. We will talk more about the disadvantages of purchasing ADA from a service soon. Case #4 - Buying a cryptocurrency and exchanging it for Cardano (ADA)/ Already having a cryptocurrency and exchanging it for Cardano - Again, this is not a perfect scenario as you will lose a certain % of your investment from the exchange fees. Though, we need to keep this into consideration and analyze this too. If you however have a cryptocurrency and want to exchange it for Cardano - we’ll show you how soon. Buying Cardano(ADA) from a cryptocurrency exchange or a cryptocurrency buying website - What you should know & which cryptocurrency exchange you should use Firstly, every cryptocurrency exchange have a certain fee. Some of them have low ones that are under 1% and some of them pass the 2%. Its important to know this as you may ask why your portfolio lost 1% just after you bought the tokens even if the price stayed the same. And this is the answer. There are some exchanges that also have withdrawal fees - in case you want to keep your ADA in a more secure place such as a Trezor Wallet - which recently accepts Cardano (ADA) on its T Model. There are two well-known places in Europe that you can purchase ADA from: Coinmama Coinmama is one of the service website that lets you purchase cryptocurrency from it. It is not a cryptocurrency exchange, as you cannot sell cryptocurrencies using it - only buy. Formed in 2013 and active until 2018 - Coinmama operated in 188 countries worldwide and is also available in 24 US States. Coinmama offer investors a simple way to purchase: Bitcoin, Ethereum, Litecoin, Cardano, QTUM, Ethereum Classic, Bitcoin Cash and Ripple. To be able to purchase from Coinmama, you also need to verify your account by submitting a passport, national ID card or driver’s license card to its platform. This process usually takes less than one hour, in some times even less than 15 minutes - depending on how fast can you complete the steps. Coinmama Fees But Coinmama also have a big issue from an investor’s point of view - The Coinmama fees. The fees are way too high. To purchase from Coinmama with a credit card, you will be charged with a 5.00% processing fee. Also, they have a trading fee for 5.9%. This means that if you want to purchase 1,000 Euro worth of Cardano (ADA) from Coinmama, you will need a total of 1,105 Euro, plus another fee from your bank to exchange your currency to Euro- if you don’t already have it. This means that only by purchasing Cardano (ADA) from Coinmama, you will already be at a ~11% loss. If you will purchase exactly 1,000 Euroworth of Cardano (ADA) - you will receive 14,194.31 ADA which at the current market price have a value of 946.76 Euro. And here the processing fee its ignored. If we add that, we reach a 890 Euro value of ADA. The good part of it is that they don’t have a withdrawal fee - as Coinmama will send you the Cardano (ADA) directly to your wallet address. So, should you buy from Coinmama? We don’t believe so. There could be some places where you could get a better value and not lose ~11% of your hard earned money. Kraken Cryptocurrency Exchange Kraken Cryptocurrency Exchange is one of the most-known and oldest bitcoin exchange. As the time passed, Kraken added variou

5 days ago

Crypto Exchange Cobinhood Announced Support for Four New Stablecoins

Cryptocurrency exchange Cobinhood recently announced that it had added four new stablecoins to its platform. These coins include Gemini Dollar (GUSD), Paxos Standard Token (PAX), TrueUSD (TUSD) and MakerDao (DAI). The next-generation crypto exchange platform which provides zero-trading-fee based solutions to its users has added these tokens to reduce volatility in the markets. The addition of these fiat pegged coins will improve market stability. Why Don’t Standard Cryptocurrencies Stabilize the Markets? In a recent press release, Cobinhood noted that standard cryptocurrencies could be highly volatile, sometimes moving both ways by as much as 20 to 30 percent in just a few hours. This high volatility is curbed using stablecoins that are pegged to stable fiat currencies like the US Dollar. Some stablecoins are also connected to commodities like gold and oil. Cobinhood, founded in 2017, is aiming to help the crypto markets mature. Co-founder of the exchange, Wei-Ning Huang talked about the pain points of the market, saying: “The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange, so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.” The New Tokens Added to Cobinhood All new stablecoins added to Cobinhood are pegged to the US Dollar. The first amongst them is Gemini Dollar (GUSD), the coin launched recently by regulated cryptocurrency exchange Gemini is an ERC20 standard token and pegged 1:1 to the US Dollar. This means that the value of each Gemini Dollar will always be equal to $1, regardless of external factors. The coin is backed by the New York State Department of Financial Services (NYDFS) regulations. Paxos Standard Token (PAX) is another regulated token that is backed by NYDFS regulations as the Paxos Trust Company, the issuer of these coins is based in New York. It is also an ERC20 token with 1:1 pegging to the USD. TrueUSD is another ERC20 token that is 100 percent collateralized with the USD. The dollar reserves are held with professional trust firms and banks. MakerDao (DAI) on the other hand, is a stark opposite of GUSD and PAX. Though it is an ERC20 token with USD connection, it is not backed by any centralized authority. The company behind the project, Maker, uses a smart contract, incentivized external factors and CDPs to stabilize the value of the coin. All pairs will trade against USDT and BTC on the platform. Apart from DAI, which can be traded against ETH instead of against BTC. Crypto Exchange Cobinhood Announced Support for Four New Stablecoins was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

5 days ago

Q&A Takeaways with INBlock Partner Li Xiaolai

In late September, Li Xiaolai live-streamed his 2018 new book release conference. The new book is titled “The Road to Financial Freedom“. During the Q&A session, Li confirmed that he is participating in a blockchain project that involves no cryptocurrencies. He also expressed his views on topics such as stablecoins, STOs, and public chain projects during the Q&A session. Here is the lightly summarized Q&A What do you think are the two most important factors in the development of the blockchain industry? I think the most important factor in the development of the blockchain industry is the rule of law, that is, let the law restrict or let the law govern whatever is going on in the industry. If there is no law to dictate what can be done and what cannot be done, then there will be a lot of confusion, which is not conducive to advancing the industry. Once the rule of law is fully established, development and growth will naturally follow suit. This is my personal opinion. STO is a hot topic in recent days. Will it be widely implemented in the near future and what positive effect will it have on blockchain? STO is very popular in recent days, but it may not be so after a few years. Mindlessly following a hot topic usually doesn’t make much sense to me. I personally don’t think that STO will have much effect on improving the uptake of blockchain. In theory, STO is not a new concept. Many people have been practicing this for a long time. It’s just an old concept with a newly coined name. Of course, I am not denying the potential of STO, but I don’t think it is a trend worthy of much attention. I don’t think that any asset from non-blockchain industry, when incorporated with the concept of cryptocurrency, will become widely accepted. I think it is nothing more than some people’s wishful thinking. After the USDT plunge on Monday, there were many discussions about stablecoins, and now more and more exchanges are starting to launch various stablecoins or issue their own. How do you view the stablecoin? What is the biggest effect of stablecoins on blockchain assets? The discussion about stablecoins has always existed. I personally have no conflict with Bitfinex. It also doesn’t matter whether or not I am optimistic about USDT. From a very objective perspective, however, I would say that many stablecoin solutions proposed at this moment are not particularly reliable in my eyes, and even less reliable than USDT. What is the biggest effect of stable currency on blockchain assets? In fact, stablecoins themselves are also a blockchain asset. Free from geographic limitation, stablecoins are an extremely convenient way to transfer value. These are its specific advantages. Charlie Munger once said, “The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.” Yet, you don’t recommend an all-in bet in your new book; does your viewpoint come into conflict with Charlie Munger’s way of thinking? Are we in disagreement? Obviously, the answer is not. Why? Because an all-in bet means that if you have two hundred dollars, you put all two hundred dollars into the bet. This is called an all-in bet because you only have two hundred dollars. But the so-called heavy bet does not necessarily mean that you have to invest all your two hundred dollars into the bet. In theory, if you have two hundred dollars and your target investment is $10. If you invest $10 in a project, it is already a heavy bet. So fundamentally, there is no conflict between us. How do you view the slump of U.S. stocks in the past few days? Has the U.S. bull market come to an end? Will U.S. stocks repeat the stock market crash of 2008? The two-day decline of U.S stocks has triggered a global stock market crash. Not only China, many other countries’ stock markets were also hit hard. In fact, not only was the stock market hit hard but even cryptocurrencies- which were often traded differently from stocks- were heavily impacted. So how do you interpret the plunge? In fact, it is very simple. The slump simply means that the U.S. is heading into a bear market for stocks and the bull market has come to an end. What else can be the explanation except that severe trouble lies ahead for the U.S. economy and stocks? Whether or not the U.S. stocks will repeat the stock market crash of 2008, no one knows, no one is able to guarantee the future. However, if one looks at the trend, this round of economic impact is likely to be very severe for the U.S, so everyone should be prepared. In the Internet era, copyright has often been compromised. I want to know your opinion in terms of intellectual property rights. Will blockchain be the solution for intellectual property management? Are there projects or researches currently underway to tackle the issue? In fact, not only in the internet era, copyright has been compromised even before the advent of the internet. Peopl

5 days ago

What is in a Stablecoin? A China Perspective on Tether and Stablecoins

TL:DR With lately an increasing focus on a stablecoins narrative in the Crypto industry, and ongoing chatter about Tether breaking its peg to the dollar since beginning of October, I want to shed some light on stablecoins from a Chinese digital payment perspective and provide some thoughts on Tether. Alipay and Wechat Pay’s digitally RMB have stood out to me recently as having a few shared similarities with the current stablecoins space, in ways that I believe may surprise our readers. So I propose the question- what’s really in a stablecoin and what are ways a stablecoin can be successful? — — — — — - First, a Quick Background on Stablecoin and the Latest with the Stablecoin Happenings in the US, Skip Directly to the”China Perspective” If You’ve Already Been Following the Space Closely Stablecoins are digital currencies pegged to a stable asset, such as gold or fiat currencies, or backed by collateral (that could also be a cryptocurrency). Most common examples include Tether, MakerDAO, Basis and Terra. Folks that have also raised money but on a smaller scale are Carbon and Celo. Most recently, numerous institutions have made way into stablecoins. IBM most recently announced its exploration into stablecoins through a collaboration with Stellar by building a stablecoin on the Stellar blockchain. Additionally, a number of stablecoins have come out in the last few months, from the crypto exchange Gemini issuing the Gemini Dollar and financial blockchain solution Paxos issuing the Paxos Standard. There are also other stablecoins such as Terra that is looking to implement a stable coin through e-commerce. Stablecoins have been in development for some time in the US, with multiple companies raising large sum of money to create a price-stable coin since early 2018, including Carbon, MakerDAO, TrustToken. The company Basis raised the most money amongst them, a whopping $133 million in earlier 2018. Thus far, project teams have been heads down developing detailed mechanics of their own coins, and they have been independently working with regulators to ascertain the future of stablecoins and their role in it. In most of the stablecoin teams’ mind, there should be only one or just a few stablecoin winners that could capture most of the mind share, and create products and an ecosystem that uses its cryptocurrency. This creates an invisible divide in the ecosystem with the coins and tokens all trying to outcompete each other, and hinders the development of standards. Given that cryptocurrency price volatility continues to be an obstacle for institutions looking to adopt the technology, it is likely that other financial and consulting institutions will turn to stablecoins as a way to support their existing customers and bring new crypto-curious customers in. A China Perspective on Stablecoin You may be surprised that I am talking about Alipay and Wechat Pay in the same sentence as stablecoin, but funny enough, these Chinese local payment systems’s digital RMB exemplify strong similarities to the current stablecoins. Here is how the Financial Times describes Alipay and Wechat Pay: “Chinese mobile payment transactions reached Rmb109tn ($16tn) last year, according to research firm Analysys Mason, as consumers switched to smartphones from cash for supermarkets, taxis, and payments to friends. The platforms are also increasingly used to purchase mutual funds, peer-to-peer loans and other wealth management products. Ant Financial’s Alipay and Tencent’s WeChat Pay dominate the industry, with market shares of 54% and 39% respectively in the first quarter. Ant Financial is the finance affiliate of Alibaba. Together the two groups control hundreds of billions of renminbi in customer funds that accumulate on their platforms when users receive payments but do not immediately transfer the funds to a bank account or other investment. Previously, third-party payment groups were permitted to invest customer funds, much as banks use deposits to make loans and other investments, even though unlike banks, the payment groups pay no interest to users.” Sounds familiar to anything in Crypto? To me, Alipay and Wechat Pay’s digital RMB share some fundamental traits as stablecoins — a digitally transferred currency, pegged and backed by fiat (the yuan in this case), and representative of a deposit “certificate” issued by a private company (which is what increasingly more crypto companies are doing). Take just Alipay for instance. Alipay is China’s leading third-party online payment solution, founded by the Alibaba Group and its founder Jack Ma in February 2004. Currently Alipay’s digital yuan are pegged to the Chinese Yuan at a ratio of 1 to 1. But when we made payments on the platform, how we do know there was actually a Yuan reserve backing these payments? Well, we didn’t know. AND, there wasn’t a Yuan reserve. In fact, the Yuan reserve wasn’t required. Alipay and Wechat pay did not have actual assets backing its payment system for over 10 y

5 days ago

What is Ethereum Classic? Introduction To ETC

What Is Ethereum Classic? Ethereum Classic ETC is an Ethereum hard fork created to preserve the original Ethereum coding after The Decentralized Autonomous Organization (The DAO, an Ethereum-based project) was hacked. It caused a loss of over 6.2 million Ether and crippling decentralized application development. At block 1920000, Ethereum mining nodes were forked to return the stolen Ether, and the minority that continued running the original hacked ledger created Ethereum Classic. This makes ETC similar to Bitcoin forks like Bitcoin Cash in that its value will forever be tied to Ethereum, regardless of each project’s philosophical or technical differences down the line. It’s also not the only Ethereum fork, which include EtherZero, EthereumFog, Ether Gold, and EtherInc. And the upcoming Ethereum Casper update to Proof of Stake mining will almost certainly create another fork. ASIC mining companies like Bitmain, dApp projects like Cryptokitties, and even competitors like EOS ultimately depend on Ethereum. These simultaneous blockchain versions running can be seen similar to Microsoft supporting versions of its Windows OS all the way back to the original in special cases (such as satellites and equipment launched into space during those eras). In this context, having multiple versions running is a great toolkit for developers and users alike and expands on the Ethereum Foundation’s initial promise of a blockchain-based future. Before explaining the saga of how Ethereum Classic was created, let’s review ETC’s financial performance on the cryptocurrency market. ETC Crypto Market Performance ETC’s peak price so far was $45.98, which occured on January 14, 2018. As of November 8, 2018, the circulating supply is 105,884,447 ETC. Although Ethereum has no maximum supply, ETC does have a max of approximately 210,000,000 as of ECIP-1017. ETC is mined using a Proof-of-Work algorithm. Its initial creation is an epic story that’ll be explained in more detail below, but what’s important to know is the 2016 hack of The DAO created a split at block 1920000. Any ETH held at that point was awarded ETC, whereas the stolen ETH, which was converted to DAO was converted back to ETH at a rate of 100 DAO/1 ETH. Over $122 million worth of ETC is traded on a daily basis. Because most markets already supported ETH at the time of the fork, many still support ETC, including Bithumb, Coinbit, EXX, OKEx, RightBTC, Huobi, Binance, and many more. ETC trading pairs include ETH, BTC, USDT, XRP, and fiat currencies like USD and EUR. It remains in circulation because it’s so easily traded. Its ETH heritage also helps with ETC wallet available. ETC-compatible wallets include Ledger Nano S (Hardware), Jaxx (multiplatform), Coinomi (mobile), and ClassicEtherWallet (Web). So if ETC benefits so much from its Ethereum association (even though the Ethereum Foundation and the rest of the founding team largely chose ETH over ETC), why does ETC’s community support it so fervently? The answer is philosophical, and man’s philosophy overrides a lot of other virtues, morals, and ethics. Let’s review the background of this battle over the immutability of the blockchain ledger. How The DAO Hack Split the Biggest Blockchain Community Because it was first to market with a blockchain-based smart contract platform, the Ethereum Foundation, led by Vitalik Buterin, had to cover a lot of ground to jumpstart dApp development. The proprietary Solidity programming language had to be learned and adapted for use with other languages. Real value and ROI needed to be shown. Ethereum is known today as a popular ICO platform, but to get there, it needed to create a project to show proof of concept. The DAO raised $150 million worth of ETH to fund these projects. This ETH supply was converted to DAO, the proprietary Ethereum-based token created for The DAO. Unfortunately, over $50 million of it was illegally drained during a June 2016 hacker exploit of the DAO-ETH exchange system. Ethereum’s price plummeted in the aftermath, and the hard fork was proposed to prevent the Denial of Service (DoS) attack that could result from a soft fork. The purpose of the fork was to return the DAO money to its rightful owners at a rate of 100 DAO to 1 ETH. While the majority of the community agreed with this method of saving face, some protested changing the ledger. The integrity and immutability of the decentralized ledger is what made the blockchain so attractive to some. This fork went against their philosophical beliefs, so some nodes refused the update. On a philosophical level, the difference between ETC and ETH is that ETC represents a belief in truth, while ETH represents a belief in justice. Both have a place, but they’re both also facing massive competition from more advanced blockchain projects. Developers are using it, however, so Ethereum Classic is neither vaporware nor a ghost town. It also has technical support from the community and developers providing open-source updat

6 days ago

Circle’s Stablecoin (USDC) finds help to boost volumes as Poloniex drops trading fee

Circle’s strategy of becoming a one-stop crypto shop seems to be playing out as the company is leverage one business’s strength for the benefit of others. To promote and boost volumes of its stablecoin USDC, Circle is asking Poloniex removes trading fees for USD Coin (USDC), the exchange which it acquired in February 2018. No more trading fees for USDC on Poloniex As per the official post put forward by Circle on its official blog, starting November 8th through the end of November, Poloniex won’t be charging trading fees for all USD Coin (USDC) trades on Poloniex. The reason for this step, as per the blog, is to encourage new customers to experience trading USDC on Poloniex and to show appreciation for our current customers. The company has led out this offer to its customers as it believes the customers have been patient with the company during the period when the company was working on enhancing Poloniex’s infrastructure and operations Hence Circle has encouraged its existing customers and new customers, from now through November 30, to take advantage of this offer by starting to trade USDC on Poloniex. The current trading pairs on Poloniex for USDC are BCHSV/USDC, BCHABC/USDC, USDT/USDC (Tether), BTC/USDC (Bitcoin), and ETH/USDC (Ethereum). USDC, launched in September, has already seen widespread adoption in the crypto ecosystem. More than 50 exchanges, protocols, platforms, applications and wallets have embraced USDC and trading volume, including Circle activity, continues to grow. The circulating supply of USDC has surpassed 130 million. The post also states that consumers can also acquire USDC via Coinbase although it is silent whether this offer is extended to customers buying USDC via Coinbase. USDC is first and only stablecoin that has found place on Coinbase. Circle, the Goldman-Sachs funded crypto investment vehicle, has been moving swiftly to become a dominant player in the crypto industry. It is progressing at top speed to attain the number one position in the crypto world. The company is slowly building its crypto ecosystem and is leveraging each of the business verticals well for the benefit of other. Circle, seems to be very close to its vision one of an open, global and connected digital economy built on crypto assets and blockchain infrastructure, as it now has its own stablecoin (USDC), a mobile investment platform (Circle), a proper cryptocurrency exchange (Poloniex), and even a crowdfunding aspect for startups (SeedInvest). Do you think Circle will change the dynamics of the cryptocurrency industry and attain the numero uno position? Do let us know your views on the same. The post Circle’s Stablecoin (USDC) finds help to boost volumes as Poloniex drops trading fee appeared first on Coingape.

6 days ago

Bomba: Tether e PSDB em uma mesma polêmica

Por: Livecoins Os casos de corrupção em território brasileiro, para variar, chegaram mais uma vez aos olhos da mídia internacional, desta vez junto com uma criptomoeda que é a Tether. A Tether é uma Stablecoin que vem nos últimos tempos passando por maus bocados, desde acusações de fraudes a problemas com processamento em sua rede de operações. De acordo com a CCN e a mídia geral de criptomoedas internacional, a Tether fechou nos últimos dias uma parceria com um Banco das Ilhas Bahamas, chamado de Deltec Bank & Trust Limited. A instituição possui 72 anos de operações financeiras nas Bahamas, e possui sua sede na cidade de Nassau. A parceria com a Tether foi a abertura de uma conta de 1,83 Bilhões de dólares nesta instituição financeira, que ainda informou “A aceitação da Tether Limited como cliente da Deltec veio após a análise de due diligence da nossa empresa. Isso incluiu, principalmente, uma análise de nossos processos, políticas e procedimentos de conformidade; uma verificação completa dos acionistas, beneficiários finais e diretores da nossa empresa; e avaliações de nossa capacidade de manter a paridade do USD a qualquer momento e nossas políticas de gestão de tesouraria. Este processo de due diligence foi realizado durante um período de vários meses e gerou resultados positivos, o que levou à abertura da nossa conta bancária com esta instituição. A Deltec revisa nossa empresa continuamente”. Mas ao processar a informação desta instituição financeira e ligar fatos, foi lembrado que a Deltec Bank está sob investigação pela Polícia Federal brasileira, em um suposto caso de corrupção envolvendo o partido PSDB e o suposto operador conhecido como Paulo Preto. De acordo com noticiado pelo jornal O Globo ainda em Julho de 2018, a PF procura cerca de R$ 113 milhões que foram atribuídos a Paulo Preto, um suposto operador de propina que seria ligado ao partido PSDB. De acordo com noticiado pela Folha de São Paulo no último dia 04 de outubro, o caso segue na justiça com entraves entre a Procuradoria do Estado de São Paulo e com a Andrade Gutierrez, empreitera acusada no processo. Resumo da história: Uma criptomoeda que está envolvida com um banco nas Bahamas que está sob investigação pela Polícia Federal brasileira. Foi criada mais uma polêmica para a conta da Tether, e para a conta da corrupção brasileira de desvio de recursos públicos em paraísos fiscais. Cabe o destaque que nas últimas eleições brasileiras, o PSDB foi um dos partidos que mais perderam força no país, perdendo eleitores e saindo da disputa presidencial em primeiro turno com votação pífia. O artigo Bomba: Tether e PSDB em uma mesma polêmica apareceu primeiro em Livecoins.

6 days ago

Poloniex Removes Trading Fees on USDC Stablecoin to Increase Adoption

Poloniex, a major cryptocurrency exchange that was purchased by Circle in February, recently announced a new promotion that eliminates trading fees for the USD Coin (USDC), the stablecoin backed by Circle, for the month of November. This means all trades on the platform that involve the USDC token will be fee-free for the rest of the month. As a sign of the growing stablecoin war, Poloniex has included the USDC/USDT trading pair on their platform, allowing users to trade the controversial Tether tokens for the Goldman Sachs backed USD Coin. (JF)

6 days ago

Huobi lança plataforma P2P em reais integrada com sua exchange global.

Por: Livecoins A Huobi, uma das maiores exchanges do mundo, com sede em Singapura, continua expandindo suas operações no Brasil. Desta vez a novidade é um mercado P2P & OTC integrado à exchange. Esta opção permite a entrada e saída em reais na plataforma, com até 6 moedas, entre elas Bitcoin, Ethereum, EOS, USDT e o HUSD, o índice de stablecoin lançado recentemente. No mercado P2P (pessoa para pessoa) ou OTC (mercado de balcão), os próprios clientes atuam como market makers criando ordens de compra e venda em reais. Isto elimina por parte da exchange a necessidade de cobrar taxas bancárias de saque, que podem chegar até 1% em outras plataformas, já que os responsáveis pelas contas bancárias e o recebimento em reais são os próprios criadores de ordens que compram e vendem Bitcoins. Em caráter promocional a Huobi não cobrará taxas de negociação na plataforma P2P & OTC até o final do ano. Para o ano que vem, é esperado uma taxa de negociação de apenas 0.2%, valor bem abaixo das plataformas concorrentes. A plataforma Huobi utiliza a mesma conta tanto para a Exchange quanto para o mercado P2P & OTC e permite transferência instantânea e gratuita entre ambas as contas. Portanto, é possível transferir os Bitcoins comprados pelo mercado P2P & OTC da Huobi para exchange, acarretando na economia com tempo e custos de transação, já que é possível ter acesso a uma Exchange Global, com mais de 150 altcoins, através de reais. Isto tudo é feito de forma segura, já que a custódia dos Bitcoins fica o tempo todo com a exchange, que atua como intermediário de confiança na transação P2P. Além disto, todos os clientes do P2P & OTC devem enviar seus documentos e ter a conta verificada. Este mecanismo serve exclusivamente para fins de identificação pessoal e ajuda a evitar golpes comuns no mercado P2P que costumam acontecer tanto com o vendedor, quanto com o comprador. Durante uma transação, o saldo do vendedor equivalente aquela transação fica congelado e só é liberado quando a transação for concluída, trazendo mais segurança ao usuário. Em todo caso, se algo der errado, é possível reinvidicar o saldo através de um sistema de disputas contido na própria exchange. Em outras palavras, a Huobi garante a segurança da negociação. O mercado P2P e OTC são bem mais alinhados com a Visão de Satoshi cujo whitepaper descreve “Bitcoin: um sistema de dinheiro eletrônico ponto-a-ponto”. O P2P também oferece uma resistência maior ao ecossistema das criptomoedas, que sofrem hoje uma grande ameaça por parte dos bancos. Quer comprar e vender através do OTC da Huobi? Entre em contato com através do e-mail: institucional@huobi.com ou +55 11 97590 5258 Quer saber mais sobre como comprar e vender em reais na plataforma da Huobi? Assista o vídeo abaixo. https://www.youtube.com/watch?v=JJvlM76sUSg O artigo Huobi lança plataforma P2P em reais integrada com sua exchange global. apareceu primeiro em Livecoins.

6 days ago

Confira os últimos movimentos. Análise do TradingView.

Por: Livecoins Confira os estudos nas maiores criptomoedas pelo Market Cap, e suas projeções para próximos movimentos. Bitcoin / Dólar Americano O grafico Bitcoin fez um rompimento do triângulo (fuga de alta) ontem (04/11/2018) e pode conseguir avançar ainda mais, pois os “Touros” conseguiram uma vantagem, mas precisam empurrar e fazer com que o BTC tenha aceitação acima da resistência da EMA 50 de US$6.450 e esse objetivo parece plausível, já que o rompimento do triângulo foi apoiado pelo MACD onde conseguiu um cruzamento de alta sobre a (divergência da MA). Bitcoin / Dólar Tether Provavelmente o Bitcoin já chegará na data da divulgação precificado (BAKKT). Por isso estudei as tendências mais recentes e encontrei as 3 LTA’s Azuis paralelas, que podemos seguir novamente nessa retomada de alta. Além dela, também temos o canal de alta verde iniciado em Junho, que também pode ser considerada uma tendência relativamente confiável e a LTA do fundo do canal demonstrou sua importância mais uma vez nos últimos dias. Seguindo ambas tendências e a data de divulgação, podemos ver que se encontram na resistência por volta dos 7100 dólares! Mas para isso precisaremos passar pela LTB vermelha de longo prazo e da resistência dos 6750 dólares, que podem ser consideradas bem fortes! Bitcoin Cash / Dólar Americano Forte alta no BCH, uma reação que rendeu mais de 50% para quem comprou no extremo fundo da range. Agora, o que pode acontecer? Primeiro, vamos aguardar o preço fechar hoje rejeitando romper a resistência de US$650. Se isso acontecer, temos dois preços de potencial retração para essa alta em US$550 e US$500, pode-se esperar um pivot nesse nível o que será sinal de compra para um potencial rompimento da resistência em US$650. Da para acreditar que vamos segurar nesse preço, pois o preço moveu fortemente acima das nuvens, se manter será muito positivo para compra. Se o preço não segurar nesse níveis vamos descer novamente próximo ao fundo da range nos 400 dólares. Litecoin / Dólar Americano Nossa queria “prata”, o Litecoin, já concluiu seu quarto toque no suporte em 50 dólares, reafirmando que sim, essa é o nível de suporte e de interesse comprador mais forte. Em contra partida, temos uma breve LTB que nos últimos 60 dias veio afunilando o preço contra o suporte. Estaríamos próximos de um rompimento e alta? Talvez, dependemos muito do BTC, ainda não demonstrando interesse altista... Mas eu tenho uma teoria muito doida que fala que as altcoins normalmente preveem um ou dois dias antes a subida do BTC, por começarem a valorizarem 2~5% ao’ dia’ sem’ influencia de noticias. Continuo observando, o preço deve romper a resistência em 60 dólares caso rompa a LTB vermelha. Podemos até testar 90 dólares, mas isso necessitará de um tempo e muita vontade compradora. Ripple / Dólar Americano Alguns rumores de que o XRP será utilizado por bancos e para facilitar transações comerciais rápidas estão fazendo com que o XRP ganhe força neste início de novembro, justamente a época em que tem ocorrido os grandes rallys de criptomoedas. Interessante o rally começar com o XRP, e não com o Bitcoin. Esta alta pode até ser um Pump artificial, mas está resistindo bem. De acordo com a força da subida, eu estimo que seu valor vá retrair até 0,52 para voltar a subir novamente. Disclaimer: Análises aqui são apenas estudos. Não são recomendações de investimento, nem de compra nem de venda. Tampouco refletem a opinião do veículo de mídia no qual estão sendo vinculadas. São estudos direcionados a pessoas com conhecimento e experiência no mercado. Se você não tem experiência, não opere. E se tiver experiência, não opere também. Nossos Autores: Coinder Trade - É DayTrader de criptomoedas. Acompanhe suas análises no TradingView. Thales Inada - É o Bonsai Trades, analista focado em Criptomoedas. Acompanhe suas análises no TradingView. Gabriel Fauth - Especulador de mercados internacionais, estudante de análise técnica pelo http://forex360.com.br. Veja analise BCH e LTC. Efonseca - É analista de Criptoativos. Confira suas análises no TradingView. O artigo Confira os últimos movimentos. Análise do TradingView. apareceu primeiro em Livecoins.

6 days ago

Bitcoin Price Analysis: Bitcoin Trades Sideways as Bulls Battle with the $6500 handle

Bitcoin has remained relatively stable over the past 24 hours of trading printing just a small +0.09% price move. The market is now trading around $6489, at the time of writing, after seeing a further 7-day price hike totaling +1.66%. Key Highlights: Bitcoin is trading at the support provided by the .5 Fibonacci Retracement level The market still needs to break above $6840 before being able to test $7000. Support moving forward; $6470, $6383, $6319, $6259, $6218, $6185. Resistance moving forward; $6518, $6557, $6645, $6665, $6840, $6945, $7027, $7146. The number 1 ranked cryptocurrency now holds a total market cap value of $111 billion after suffering a small -2.25% price decline over the past 30 trading days. The 66-month-old coin is now trading at a value that is -67% from the all-time high price. Let us continue to analyze price action over the short term and highlight some areas of potential support and resistance moving forward. Bitcoin Price Analysis BTC/USD - SHORT TERM - DAILY CHART Bitcoin Price analysis Chart source by TradingView Looking at the market from the chart above we can see that price action is still trapped within the previous trading range when the market started at a low of $6100 on the 19th of September 2018 and extended to a high of $6840 on the 22nd of September 2018. This was a price increase totaling 12% from low to high. We can see that after placing the high price action had rolled over to find support at the .786 Fibonacci Retracement level priced at $6259 during October 2018. We can also see that on the 15th of October 2018 the market had spiked to a high of $7788. This was due to the Tether currency fluctuating away from its $1.00 stable price. Price action is now trading at the support provided by the .5 Fibonacci Retracement level priced at $6470. Moving forward, if the bulls continue to press price action higher we can expect further higher resistance to be located at $6518 followed by the .382 Fibonacci Retracement level priced at $6557. If the bulls can then continue to drive price action higher they will encounter further resistance higher at the .236 Fibonacci Retracement level priced at $6665 followed by the September high priced at $6840. If the buyers continue to climb up above $6840 we can expect higher resistance to be located at the 1.272 and 1.414 Fibonacci Extension levels (drawn in light blue) priced at $6945 and $7027 respectively. Alternatively, in our bearish scenario, if the sellers re-enter the market and push price action lower we can expect immediate support below to be located at the .618 Fibonacci Retracement level priced at $6383 followed by the downside 1.414 Fibonacci Extension level (drawn in red) priced at $6319. If the sellers continue to push price action further lower more support below can be expected at the .786 and .886 Fibonacci Retracement levels priced at $6259 and $6185 respectively. The RSI has recently battled its way above the 50 handles indicating that the bulls are starting to take control of the momentum within the market. So long as the RSI can continue to trade above the 50 handles we can expect price cation to travel further higher. The post Bitcoin Price Analysis: Bitcoin Trades Sideways as Bulls Battle with the $6500 handle appeared first on Coingape.

6 days ago

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