Day: July 4, 2018

Use Blockchain to ‘Rebuild Societal Trust’ and Save £8 Billion, Report Tells UK Gov’t

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UK housing minister Eddie Hughes released a report into blockchain July 4, calling on the government to “show leadership” by making the technology and its benefits a priority. The report, ‘Unlocking Blockchain,’ makes several key proposals, using state projects currently underway in Estonia as the standard authorities should follow at home. “The state should focus its attention on using blockchain to enable social freedom, to increase efficiency, and to rebuild societal trust,” Hughes summarizes. “The state should not be allowed to use such technology to intrude into the lives of…

Will Cryptocurrencies Preserve Their Popularity in Greece? Expert Take

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to george@cointelegraph.com. Greek Prime Minister Alexis Tsipras hailed the Eurogroup debt deal for Greece during a televised exchange with President Prokopis Pavlopoulos, referring to a “historic” agreement that exceeded the expectations…

Binance Resumes Suspended Services After ‘Irregular’ SYS Trading Risk Alert

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Binance has now resumed services after it announced the suspension of all trading and withdrawals Wednesday, July 3. The temporary suspension was due to an alert over “irregular” Syscoin (SYS) trades “from a number of API users.” Binance subsequently chose to suspend trading, withdrawals and other account functions, as well as to take a series of further measures in order to protect its users. Syscoin for its part notified the public in a tweet yesterday that its developers were investigating a “possible issue” on the Syscoin blockchain, saying that it…

Bitcoin Still Bullish Despite Price Pullback

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Bitcoin (BTC) has pulled back from the 11-day highs, still, the short-term outlook remains bullish, the technical studies indicate. The leading cryptocurrency looked overbought yesterday, as per short-duration indicators, having rallied to $6,681 on Bitfinex on Monday – the highest level since June 22. Consequently, BTC fell back to $6,414 earlier today and was last seen trading at $6,530 – down 2.2 percent on a 24-hour basis. Clearly, the bullish momentum has waned in the last 24 hours, still, the technical charts are biased to the bulls and the probability…

Digitized Gold ‘Only Type of Crypto That Can Succeed’

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American stock broker Peter Schiff “technically lost” to ShapeShift CEO and crypto commentator Erik Voorhees in a ‘Bitcoin Debate’ at the SoHo Forum July 2. The two financial thought leaders debated about the top cryptocurrency Bitcoin (BTC) and its underlying technology blockchain, questioning the potential for mass adoption, and comparing Bitcoin and other cryptocurrencies with other asset types such as fiat money and gold. Voorhees, the Bitcoin bull of the debate, claimed that Bitcoin will eventually become a substitute for state-backed money, while government structures would be reorganized using blockchain…

Bitcoin Price Watch: Can BTC/USD Hold $6,400?

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Key Points Bitcoin price started a downside correction after trading as high as $6,680 against the US Dollar. There is a new contracting triangle forming with support near $6,410 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $6,400-10 support area to avoid further downsides in the near term. Bitcoin price is currently correcting lower against the US Dollar. BTC/USD should stay above the $6,400 support to resume its upward move towards $6,800. Bitcoin Price Analysis Yesterday, bitcoin price traded towards…

Cardano Price Analysis: ADA/USD Testing Key Support

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Key Highlights ADA price started a downside correction after trading above the $0.1500 level against the US Dollar (tethered). There is a major bullish trend line formed with support at 0.1450 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair must stay above the $0.1450 support and the 100 hourly simple moving average to stay in a bullish zone. Cardano price is currently correcting lower against the US Dollar and Bitcoin. ADA/USD must hold the $0.1450 support to resume its upside move back above $0.1500.…

Ripple Price Analysis: XRP/USD’s Resistance Turned Support

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Key Highlights Ripple price traded further higher and almost tested the $0.5250 resistance against the US dollar. There is a new bearish trend line in place with resistance at $0.4850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently holding an important support near $0.4750, which was a resistance earlier. Ripple price is trading near key supports against the US Dollar and Bitcoin. XRP/USD must stay above the $0.4700-0.4750 support to resume its upside move. Ripple Price Support Yesterday, there were further gains…

Horizontally Scalable Blockchain System Launches ‘Flagship’ Membership Portal

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A horizontally scalable Directed Acyclic Graph (DAG) blockchain system that aims to cater to consumer-grade applications has launched the Orion membership portal where members of its ecosystem can communicate and contribute to the network, with the company announcing its DAG token has listed on KuCoin. Constellation Labs says the capacity of its network is proportional to user adoption – with a partitioned consensus allowing the network to scale the number of transactions per second on an infinite  basis. Reputation-based incentives are going to be used to eliminate transaction fees for…

Binance Halts All Trading Over Abnormal Crypto Transactions

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Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended its trading services, hours after one token on its platform was reported with irregular transactions. Syscoin, a distributed network based on a fork of the bitcoin protocol, said on Twitter around 21:00 UTC on Tuesday that it noticed a potential issue with its system and subsequently asked exchanges to suspend the trading of its SYS token. The project later confirmed after an investigation that it has discovered “odd trading behavior coupled with atypical blockchain activity.” Though Syscoin has not yet disclosed…