Day: August 2, 2018

Square’s Bitcoin Integration Turns $37 Mln Revenue in Q2 2018

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Twitter CEO Jack Dorsey’s payments service Square generated over $70 mln in Bitcoin revenues in the first half of 2018, the company revealed in a quarterly report to the U.S. Securities and Exchange Commission (SEC) August 1. Square, which began offering users the option to buy, sell, and store Bitcoin in its wallet late last year, saw $37 mln in revenue from the cryptocurrency in Q2 2018, compared with $34 mln for the previous quarter. Total revenue for the company for Q2 2018 was $814 mln, according to the report.…

How Blockchain Can Help Advertising

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Advertisers and brands are increasingly losing patience with ad agencies and other players over the lack of transparency in the digital advertising space. Digital ad revenue for the first half of 2017 came in at a record $40 billion, up from $31 billion for the previous year, and it was estimated to have reached $85 billion by the end of 2017. The fight for transparency intensified in 2017 after The Times of London published a report about how the ads of big brands were appearing alongside racist videos on the…

GDPR Could Hinder Blockchain Innovation, Warns EU Body

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The EU Blockchain Observatory and Forum has warned that the General Data Protection Regulation law that went into effect a little over two months ago could hinder innovation in the blockchain space. According to the European blockchain body, this is because of the lack of legal clarity between blockchain technology and the GDPR law, whose aim is to protect individual data rights as well as facilitate the free movement of personal data in the single market. “As long as the legal framework around personal data and blockchain remains unclear, entrepreneurs…

Bitcoin Bulls Defend $7,450 But Need Progress Soon

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Having defended the key support of $7,455, bitcoin bulls now need a quick move higher in order to neutralize the threat of a short-term bearish reversal. As of writing, the cryptocurrency is trading at $7,560 on Bitfinex – down 11 percent from the recent high of $8,507, as per Bitfinex data, but is still up more than 30 percent compared to the June 24 low of $5,755. So, it is safe to say the bullish trend is still intact. Further, BTC’s solid defense of $7,455 (38.2 percent Fibonacci retracement of…

Crypto Downtrend Continues With Bitcoin at $7,680 in Weak Recovery Attempt

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On August 1, the valuation of the crypto market fell to $270 billion as the price of Bitcoin declined by more than 7 percent from $8,300 to $7,500. Low Volume Over the past 24 hours, Bitcoin and other major digital assets have slightly rebounded, adding $3 billion to the valuation of the crypto market. However, the expected short-term recovery from yesterday’s $30 billion drop failed to add a significant amount of volume and demand to the market, and another drop is more likely than a recovery in the next few…

Bitcoin Price Watch: BTC/USD Rebounding Towards $7,850 Barrier

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Key Points Bitcoin price traded to a new low at $7,426 and is currently recovering against the US Dollar. There is a crucial connecting trend line formed with support at $7,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may perhaps move higher towards the $7,850 resistance and the 100 hourly SMA. Bitcoin price is rebounding from the $7,426 low against the US Dollar. BTC/USD is likely to correct further higher towards the $7,850 resistance in the near term. Bitcoin Price Analysis Yesterday, we…

Ethereum Classic Price Analysis: ETC/USD Turned Bearish?

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Key Highlights Ethereum classic price failed to hold an important support at $16.25 and declined against the US dollar. There is a major bearish trend line formed with resistance at $15.65 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair remains at a risk of more losses as long as it is below the $15.70 and $16.00 resistances. Ethereum classic price is in a bearish zone against the US Dollar and Bitcoin. ETC/USD must move back above the $16.00 resistance to start a recovery. Ethereum…

‘Keep NEO One!’ Investors Protest a Proposal to Make Crypto Coins Divisible

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Tokens on the blockchain protocol neo may be indivisible – but it’s becoming apparent that its community is not. Perhaps ironically, it’s the very notion of indivisibility that has proved contentious to the coin’s investors and users in recent weeks. More specifically, a Github proposal to change the structure of the NEO token – one of two tokens native to the network (GAS is the second) – has the project’s token holders up in arms. Authored by neo co-founder Erik Zhang, the post ideates a new economic model for the upcoming…

Ripple Price Analysis: XRP/USD’s Buy Zone Near $0.4350

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Key Highlights Ripple price held the $0.4270 support and recovered nicely against the US dollar. There is a short-term connecting bullish trend line in place with support at $0.4370 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently declining, but it remains nicely supported near the $0.4350 and $0.4270 levels. Ripple price jumped higher yesterday against the US Dollar and Bitcoin. XRP/USD is placed in a positive zone as long as it is above $0.4270. Ripple Price Trend After a major decline below…

Ethereum Price Analysis: ETH/USD Recoveries Capped Near $428

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Key Highlights ETH price declined further below $415.00 and traded as low as $407.95 against the US Dollar. There is a crucial bearish trend line in place with resistance near $428 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move above the $428 and $430 resistance levels to gain upside momentum. Ethereum price is under pressure against the US Dollar and bitcoin. ETH/USD is correcting higher towards important resistances near $428-430. Ethereum Price Upside Hurdles There were further losses in ETH price below the…