Day: July 6, 2018

Crypto Exchange Gemini Hires Former NYSE Tech Chief

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Cryptocurrency exchange Gemini has hired former New York Stock Exchange (NYSE) chief information officer Robert Cornish to serve as its first chief technology officer. The exchange, founded by investor-brothers Cameron and Tyler Winklevoss, announced Friday that Cornish would be in charge of Gemini’s technology team and strategy, according to a press release. Further, Cornish will be overseeing the deployment of Nasdaq’s SMARTS Market Surveillance, a benchmark for “real-time and T1” solutions for market surveillance. The market surveillance project will “enable Gemini to monitor across all of its order books as…

Bitcoin Price Leads Market Downturn, But Ethereum Classic Swims Upstream

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Friday marked another disappointing day for the cryptocurrency markets, as — led by the bitcoin price — the vast majority of top-tier coins posted moderate declines against the U.S. dollar. Bitcoin Price Fails to Break Toward $7,000 The bitcoin price fell 1.2 percent for the day, reducing its value to $6,564 at the time of writing and hitting pause on the flagship cryptocurrency’s labored recovery, which briefly saw BTC spike near $6,800 earlier in the week. BTC currently has a $113.4 billion market cap, which translates into a 42.5 percent share…

Bitcoin’s Price Declines Over Q2 for First Time on Record

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In the case of bitcoin’s Q2 price movements, it turns out history didn’t repeat. As the three-month period came to a close this week, the final figures indicate bitcoin fell 8 percent according to CoinDesk’s Bitcoin Price Index (BPI), snapping a 7-year win streak for the market’s leading cryptocurrency. As seen in the table below, bitcoin had always put on a good show in the second quarter. For instance, BTC’s 1,964 percent rally in the second quarter of 2011 is its best quarterly performance ever. Clearly, history was on bitcoin’s side…

Venezuela Petro Cryptocurrency | Providing Homes for the Homeless

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Venezuela Petro cryptocurrency: Lldemaro Villarroel, the Venezuelan Minister of Habitat and Housing, just announced that the Venezuelan government is planning on using the national cryptocurrency Petro to house the homeless, Criptotendencia reported yesterday. The project will be called ‘Great Mission for Venezuela Housing‘ (GMVV) and the Venezuelan government will be fully funding it. GMVV aims to provide quality housing to the homeless. Great Mission for Venezuela Housing According to the GMVV website, the government has built more than 2 million houses to date. Villaroel states that 33 companies have teamed…

Main Swiss Stock Exchange to Launch Distributed Ledger-Based ‘Digital Asset’ Exchange

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Switzerland’s principal stock exchange SIX announced today, July 6, that it will open a “fully-regulated” cryptocurrency exchange next year. In an official press release, SIX confirmed it would use so-called distributed ledger technology (DLT) –– of which blockchain is one type –– to build what they are dubbing a “digital asset ecosystem,” Six Digital Exchange (SDX) to “put banks at the heart of transactions in the digital space.” SIX already hosts local bank Vontobel’s Bitcoin exchange-traded note (ETN), with further integration of digital assets widely expected prior to today’s announcement.…

Decentralized Cloud Platform Launches Mainnet in Challenge to ‘Big Four’ Market Leaders

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A cloud platform, with the goal of building a fairer internet, has made its mainnet live — allowing its growing suite of network-ready applications to offer faster and more secure hosting services for websites, APIs, apps and e-commerce stores. DADI says its peer-to-peer network helps to shift the emphasis of computing power away from large corporations, as its infrastructure is owned by users. The company claims that those who use its network enjoy greater performance and efficiency as a result, with costs slashed by as much as 60 percent when…

Wall Street’s Tom Lee Says Bitcoin Price to Hit $22K by Year’s End, ‘Can Reach $25K’

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Financial market research firm Fundstrat’s Tom Lee defended his position that Bitcoin (BTC) could trade at anywhere from $22,000 to $25,000 by the year’s end, in two CNBC interviews Thursday, July 5. Lee made sure to clarify to reporters that his most recent $22,000 price prediction is emphatically not a bearish retreat from his previous forecasts of $25,000. Lee, a notorious Bitcoin bull, is famous for his prediction in January that Bitcoin would hit $25,000 by the end of 2018, later saying in March it would reach a staggering $91,000…

Bitcoin Awaits Price Breakout As Trading Range Tightens

The trading range’s lower end is $6,341, a double bottom neckline (former resistance-turned-support), which was scaled on June 30. Meanwhile, $6,754 (a 23.6 percent Fibonacci retracement of the sell-off from $9,990 to $5,755), which put brakes on BTC’s rally earlier this week, marks the upper end of the trading range. Source

World’s Largest Crypto Exchange Binance ‘Expects’ 2018 Profits up to $1 Billion

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Cryptocurrency exchange Binance “expects” profits to reach $1 bln in 2018, CEO Changpeng Zhao told Bloomberg in an interview today, July 6. Speaking as his platform recovers from a week of technical difficulties which saw trading temporarily suspended, Zhao revealed figures that defied the idea crypto exchanges’ success depends on market prices. Despite Bitcoin (BTC) trailing below $7,000 for almost the past month, Binance’s first-half revenue came out to be around $300 mln, Zhao told reporters. Binance, which regularly tops the leaderboard for the world’s largest daily crypto trading volumes,…

Stuck Between Key Chart Points, Bitcoin Price Seeks Direction

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Bitcoin (BTC) price is stuck in a $400 range defined by key technical levels and the direction of the breakout will likely set the tone for the next move in the cryptocurrency.  The lower end of the trading range is $6,341 – double bottom neckline (former resistance-turned-support), which was scaled on June 30. Meanwhile, $6,754 (23.6 percent Fibonacci retracement of the sell-off from $9,990 to $5,755), which put brakes on BTC’s rally earlier this week, marks the upper end of the trading range. A convincing move above $6,754 would signal…