Month: June 2018

Crypto Exchange Huobi Poaches App Exec to Lead New US Branch

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A senior executive from the provider of China’s top photo-retouching app, Meitu, will now lead HBUS – the new U.S. strategic partner of cryptocurrency exchange Huobi. According to an announcement on Monday, Frank Fu, former managing director of Meitu’s global business, will join the fledgling U.S. exchange as CEO, and will manage its operations and oversee the platform’s technology development going forward. Fu’s appointment comes at a time when the exchange is moving toward a formal launch in the U.S., having already registered as a money services business with regulators in the…

Bitcoin’s Defense of $6K Raises Odds of Relief Rally

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Bitcoin (BTC) is again trading above $6,000 and looking up, but today’s closing price will likely set the tone for the rest of the week. The leading cryptocurrency fell to $5,755 at 15:00 UTC on Sunday – the lowest level since Nov. 12 – only to make a quick recovery back above $6,000 an hour later, according to Bitfinex data. The failure to capitalize on the drop, despite the long-run bearish technical setup, suggests that the bears are feeling exhausted, having pushed BTC lower by more than 40 percent (from $9,990…

Bitcoin Price Rises 5% Avoiding Lower End of $5,000 in Market Recovery

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The bitcoin price has risen by over 5 percent in the past 24 hours, as the cryptocurrency market recorded a slight recovery. Theta and Ontology recorded a rise of over 21%, becoming the best performers of the market as of June 25. Potential BTC Scenarios After dipping to a monthly low at $235 billion, the valuation of the cryptocurrency market increased to $251 billion, by $16 billion. Overall, the volume of major cryptocurrencies like bitcoin and Ethereum have risen substantially in the last 24 hours, improving market conditions.’ Yesterday, the…

Tron Independence Day Explained: What’s at Stake for a $3 Billion Blockchain

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One year and nearly $3 billion later, the Tron blockchain is set to finally put its much-debated technology to the test. At least, that’s what should happen Monday, when Tron completes the token swap it began last week, migrating the last of its users’ funds from ethereum to a new proprietary blockchain. For investors, the moment marks a historic “independence day” of sorts, but it could more broadly become a make-or-break moment for the project, which though controversial, already finds itself among the top cryptocurrencies globally. Founded last July, Tron has set out…

Coinbase Should Add XRP [And It’s Not a Security]: Ripple CEO

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Brad Garlinghouse, the billionaire CEO at Ripple Labs, the company that oversees the development of XRP, the $18 billion blockchain network, has said for the first time in public that Coinbase should integrate XRP, the native cryptocurrency of the Ripple network. CEO Says Ripple is Clearly Not a Security In an interview with Jeff John Roberts from Fortune at CB Insights Future of Fintech conference in New York, Ripple CEO Brad Garlinghouse said that XRP is solving problems at scale for institutions and large-scale banks, and Coinbase should be interested…

EY Launches Blockchain Content Rights Platform with Microsoft as Partner

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Global leader in advisory services, EY, in partnership with Microsoft announced a blockchain based solution which facilitates content rights and royalties management. To start things off, Microsoft and affiliated game publishers will be using the solution in the gaming industry, although this sort of a solution can be used in multiple industries where intellectual property(IP) or assets are licensed. Gaming happens to be a huge and impulsive market which serves a good case for testing the waters. The solution aims to have a real-time visibility of transactions that will hopefully give…

Crypto Tourism Is Growing – For Better or Worse

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Cryptonation. Blockchain Cruise. CryptoCribs. These are just several of the names of tourism programs focused on the blockchain industry, from luxury cruises to Middle East startup tours, that are part of a growing trend targeting crypto-curious travelers. The Blockchain Cruises, organized by the tourism arm of Edinburgh, Scotland-based crypto wallet provider CoinsBank, have garnered a significant amount of attention. Already, the company has hosted two, where crypto millionaires partied hard on the sea, and now they’re gearing up for their third cruise through the Mediterranean in September. During the cruise,…

Cryptocurrency Market Drops to $241 Billion, EOS Takes a Huge Beating

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From $260 billion to $241 billion, the valuation of the cryptocurrency market has dropped by over $19 billion in the past 24 hours, as major cryptocurrencies including bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS fell by large margins. For a third day in a row, EOS, the delegated proof-of-stake (PoS) network based on the Ethereum blockchain protocol, has recorded the biggest loss amongst major cryptocurrencies. On June 24, EOS recorded a loss of 13 percent, while BTC, ETH, XRP, and BCH fell 3.5%, 4.6%, 5.8%, and 8.5% respectively. Why the…

Bitcoin Price Hits Yearly Low at $5,825, Where Will it Bottom Out?

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The bitcoin price has dipped below the $5,900 mark, after initially dipping below the $6,000 mark on June 23. Subsequent to four consecutive sell-offs as shown in the 1-hour bitcoin price chart below, BTC officially fell to a yearly low. On February, the bitcoin price recorded a major drop from around $8,000 to the lower end of $6,000, bottoming out at around $6,050. However, on June 24, the drop of BTC continued to the higher end of the $5,000 region, entering $5,000 for the first time since early November. Almost…

Stanford University Establishes Blockchain Research Center

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Stanford University’s computer science department has established a center for blockchain research to promote the study of and develop best practices for this nascent technological field. Unveiled on Wednesday, the Center for Blockchain Research is a five-year research program that has been underwritten by a variety of cryptocurrency organizations, including the Ethereum Foundation, Protocol Labs, OmiseGo, DFINITY Stiftung, the Interchain Foundation, and cryptocurrency hedge fund Polychain Capital. The center will be led by computer science professors Dan Boneh and David Mazières. Other inaugural faculty will include computer scientists Alex Aiken,…