Day: July 25, 2018

Self-Regulatory Crypto Exchange Association Considers Margin Trade Limits to Stem Losses

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The Japan Virtual Currency Exchange Association (JVCEA) said it wants to place restrictions on member exchanges’ margin trading. The news of the plans of Japan’s self-regulatory cryptocurrency body comes from a Chinese media report July 24. Margin trading is the practice of borrowing money from the broker, used by crypto traders to buy or sell more cryptocurrency than they could afford on their own – thereby increasing their potential profits, along with the losses. The JVCEA, which is still testing the water regarding its own effectiveness after officially coming into…

Tokens and Small Cryptocurrencies Start to Rebound as Crypto Volume Explodes

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The daily trading volume of the crypto market has increased from around $9 billion to $19 billion within a period of two weeks, by more than two-fold. Tokens Perform Well Bitcoin has remained relatively stable in the $8,200 region after reaching a monthly peak at $8,500, recording a slight drop from its high point. The volume of bitcoin against the US dollar and stablecoins like Tether (USDT) has increased by nearly four-fold since early July, and the global bitcoin volume has increased by exactly two-fold since last week. As the…

Bitcoin Holds Recent Gains Amid a Checkered Market Outlook

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July 25: Bitcoin (BTC) is holding its newly won gains, having led the week’s impressive uptick to stay above $8,000. Other leading cryptocurrencies are seeing mixed fortunes, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $8,200 to press time, down about half a percent on the day. The leading asset surged as high as $8,483 during early trading hours — a price point it has not seen since mid-May — subsequently retracing to its current level. Bitcoin’s weekly and monthly gains are at a…

Catalonian Government to Develop Plan for Blockchain Technology Integration

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The Generalitat de Catalunya (Government of Catalonia) has revealed a plan for blockchain tech implementation in its public administrative activity, according to the official press release July 24. The Generalitat de Catalunya, an official governmental institution of the Spanish autonomous community of Catalonia, will promote blockchain technology “with the aim of improving digital services to the public and promoting the potential of this technology between the Administration, companies and the citizen[s].” According to the press release, Catalonia’s Department of Digital Policies must develop a plan for incorporating blockchain tech in…

Startup Launches ‘Complete Redesign’ of Blockchain to Address Scalability Concerns

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A U.S.-based startup has unveiled a blockchain which can store data as well as transactions — meaning clients no longer need to trust third parties with their data. Fractonet Innovation Technologies, or Fractonet, says its SHA-256-based  blockchain has a block size of 1.5 GB, and claims it is capable of handling more than 33,000 transactions per second with a block time of five minutes. To enable its Fracton Network blockchain to sync such big amount of data, a new communication protocol — RIFT protocol — has been developed. Each 1.5…

Chinese Research Institute Report Finds Blockchain Can Enhance Financial Services

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A Chinese scientific research institute and value-added Internet service provider Tencent Holdings have jointly released a July 24 report emphasizing the impact of blockchain on the transformation of traditional financial services. The Academy of Information and Communications Technology, a scientific research institute under China’s Ministry of Industry and Information Technology (MIIT), and China’s Tencent Holdings’ report includes eight core conclusions of blockchain implementation in the financial sector. According to the report, blockchain technology will further enhance “the transparency of financial transactions, strengthen the flexibility of system operation, and automate processes,…

Reddit Co-Founder Alexis Ohanian Upholds BTC $20K, ETH $1.5K 2018 Forecasts

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Alexis Ohanian, a co-founder of both Reddit and VC firm Initialized Capital, upheld his $20,000 Bitcoin (BTC) and $1,500 Ethereum (ETH) forecasts for 2018 in an interview with CNBC on July 24. Speaking of the “battle-tested” Bitcoin, Ohanian said the asset is “certainly the most robust” and “one of the best proofs” of crypto being a possible store of value — something he underscored as increasingly important in a global context of fiscal and political “uncertainty.” Ohanian noted that “as volatile as it’s been, we see [Bitcoin] continuing to go…

Bitcoin Seeks Bargain Buyers As Price Retreats Back Toward $8K

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Bitcoin’s (BTC) price has seen a $350 drop this morning from Tuesday’s two-month highs and may be headed for a short-term correction, technical charts suggest. As of writing, the leading cryptocurrency is trading at $8,220 on Bitfinex down 3.5 percent from the high of $8,507 reached yesterday. Today’s dip is not surprising and could be extended further as BTC’s 40 percent rally from the seven-month low of $5,755 reached on June 24 is still looking overstretched, as per the relative strength index (RSI). The short duration charts have also aligned…

Coinbase Takes on Cryptocurrency Gift Cards With Limited Rollout

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Major U.S. cryptocurrency wallet and exchange Coinbase has entered the crypto gift card market, allowing customers in certain countries to exchange coins for brand e-certificates, according to their July 25 blog post. In the post, Coinbase confirmed the new option was made possible through a partnership with UK-based startup WeGift, and will effectively allow cryptocurrency holders to pay for goods and services through brands such as Nike, Tesco, Uber, Google Play, Ticketmaster, and Zalando: “Starting today, Coinbase customers in the EU and Australia are able to instantly spend their cryptocurrency…

Is Blockchain About to Become a Patent War Battleground?

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Last week, news of at least three major players applying for blockchain-related patents emerged: Bank of America sought to legally protect its blockchain-based system allowing the external validation of data, Barclays filed two patent applications relating to the transfer of digital currency and blockchain data storage, while MasterCard’s application mentioned a form of a public blockchain-based method for linking assets between blockchain and fiat accounts. As blockchain technology continues to be one of the most discussed things in 2018 and a subject for mass adoption, the number of crypto-related patents…