Day: July 17, 2018

IBM Is Helping Launch a Price-Stable Cryptocurrency Insured By the FDIC

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The latest attempt to create a cryptocurrency pegged to the U.S. dollar, or “stablecoin,” combines 21st-century technology with an invention from the Great Depression. Announced Tuesday, a startup called Stronghold is launching USD Anchor, which will run on the rails of the Stellar blockchain and use its consensus mechanism to verify transactions. The token will be backed one-for-one with U.S. dollars held at a Nevada-charted trust company called Prime Trust, which in turn will deposit the cash at banks insured by the Federal Deposit Insurance Corp. IBM is partnering on the initiative…

Coinbase Says It Now Has Regulatory Approval to List Security Tokens

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U.S. cryptocurrency exchange Coinbase has reportedly received regulatory approval to acquire several securities firms – a move that could eventually see it supporting trading in tokens deemed as securities. A spokesperson for the exchange said on Monday that both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have approved recently revealed acquisition deals for currently regulated firms, according to a report from Bloomberg. Last month, the exchange announced that it intends to purchase three companies – Keystone Capital Corp., Venovate Marketplace and Digital Wealth LLC – as…

Bitcoin Retakes Key Resistance to Pass $6,700

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Bitcoin (BTC) scaled the crucial 50-day moving average (MA) on Monday for the first time in nearly two months, however, that does not amount to a bull breakout, technical charts indicate. The corrective rally picked up a pace 24 hours ago, possibly due to reports stating that BlackRock, INC–the world’s largest asset manager and exchange–traded fund (ETF) provider, is considering venturing into cryptocurrency markets. Later in the day, BlackRock CEO Larry Fink clarified rumors by stating that there isn’t a huge demand for cryptocurrencies.  Still, BTC remained bid and closed (as…

World’s First Bank-Backed Crypto Exchange Finally Opens to the Public

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The world’s first bank-backed cryptocurrency exchange is now open to the public after months of delays. Japanese financial giant SBI Holdings formally launched its in-house cryptocurrency trading platform dubbed VCTRADE last month. Yet as reported by CoinDesk at the time, the trading service was only available for a group of selected users who pre-registered with the platform in October 2017. In an announcement released on Tuesday, SBI Holdings said the service is now fully open for users aged from 20–70 who reside in Japan. However, a registration service for corporate customers has not…

Bitcoin Price Watch: BTC/USD’s Trend Overwhelmingly Bullish

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Key Points Bitcoin price surged higher and broke a crucial resistance near $6,380 against the US Dollar. There is a new key bullish trend line forming with support at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The BTC/USD pair is currently correcting lower, but it is likely to find support near $6,640 and $6,600. Bitcoin price surged above $6,700 against the US Dollar. BTC/USD is now placed in an uptrend with supports near $6,600 and $6,540 on the downside. Bitcoin Price Analysis Bitcoin price…

Ethereum Classic Price Analysis: ETC/USD Bullish Above $16.80

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Key Highlights Ethereum classic price traded higher recently and moved above the $17.00 barrier against the US dollar. There is a crucial bullish trend line formed with support at $16.80 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently correcting lower, but it remains supported above the $16.80-17.00 levels. Ethereum classic price moved into a bullish zone against the US Dollar and Bitcoin. ETC/USD dips remain supported near the $16.80 and $17.00 levels. Ethereum Classic Price Trend This week, there was a nice…

Ripple Price Analysis: XRP/USD Primed for More Gains

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Key Highlights Ripple price is surging higher and it recently broke the $0.4500 resistance against the US dollar. There is a key connecting bullish trend line formed with support at $0.4750 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is placed nicely above the $0.4700 support area for more upsides in the near term. Ripple price gained bullish momentum against the US Dollar and Bitcoin. XRP/USD broke the $0.4500 resistance and it could continue to move higher towards $0.5000. Ripple Price Upward Move Yesterday,…

Ethereum Price Analysis: ETH/USD Buyers in Control

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Key Highlights ETH price climbed above a few important resistance such as $450 and $460 against the US Dollar. There is a new connecting bullish trend line forming with support at $464 on the hourly chart of ETH/USD (data feed via Kraken). The pair is following an ascending channel, but it could correct lower towards the $470 level. Ethereum price is back in an uptrend against the US Dollar and Bitcoin. ETH/USD may perhaps correct a few points, but it is likely to accelerate further higher. Ethereum Price Bullish Moves…

Tron (TRX) Price Watch: Bullish Momentum Kicking Back In

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Tron Price Key Highlights Tron price recently broke to the upside of its falling wedge pattern to signal a pickup in bullish momentum. Price is starting to trade inside a smaller rising channel and is currently testing the top. There are more hints of bullish pressure but Tron price might need a pullback to gather more energy. Tron made a bullish breakout from its falling wedge and is establishing a short-term uptrend channel. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA for now but the…

Bitcoin (BTC) Price Watch: Waiting for Reversal Confirmation

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Bitcoin Price Key Highlights Bitcoin price has completed its inverse head and shoulders reversal pattern and is now awaiting confirmation. Price is testing the neckline at $6,800 and an upside break could spur a $1,000 climb. Technical indicators are showing mixed signals but longer-term bullish momentum could start building up. Bitcoin price is testing the neckline of its reversal formation and confirmation could lead to a climb to $7,800 and beyond. Technical Indicators Signals The 100 SMA is crossing above the longer-term 200 SMA to indicate that the path of…