Day: August 3, 2018

Blockchain in Charity, Explained | Cointelegraph

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2. Several charities have been exploring this concept with some success. Over 59 days at the start of 2018, UNICEF launched an initiative called Game Chaingers, which aimed to inspire young people to do something good for society. The children’s charity appealed to people with powerful graphics cards in their PCs, such as gamers, to use their spare computing capacity to mine Ethereum. More than 12,000 computers were aggregated during the appeal and a total of 85 ETH (roughly $36,000 at today’s rates) was raised. The funds went towards helping children affected…

‘Lack Of Stability’ Among Factors Preventing Global Bitcoin Breakout, Says UBS Strategist

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Swiss-based investment bank and financial services company the Union Bank of Switzerland (UBS) said that Bitcoin’s (BTC) scalability and volatility are still too high for the cryptocurrency to be used as “money,” CNBC reported August 2. In a note to clients, UBS strategist Joni Teves claimed that until regulatory support is in place and technical hurdles are overcome, Bitcoin could not become a “legitimate asset class,” underlining, “Bitcoin is still too unstable and limited to become a viable means of payment or a mainstream asset class. Owing to its lack…

Germany’s 2nd Largest Stock Exchange to Launch ICO Platform, Multilateral Crypto Trading

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Germany’s second largest stock exchange, the Stuttgart Börse, has revealed plans to develop a new platform for Initial Coin Offerings (ICO) as well as a multilateral crypto trading venue, Finextra reported August 2. The German bourse, which had a trading volume of EUR 81 billion (about $95 billion) across all asset classes in 2017, had already this May unveiled a prototype of its zero-fee crypto trading app for the public, dubbed “Bison,” slated to be released in September. Now the bourse is setting its sights on the primary and secondary…

Bitcoin Eyes Short-Term Bear Market After Two-Week Lows

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Bitcoin’s (BTC) price pullback from the recent highs above $8,500 is increasingly looking like a short-term bear market, technical chars indicate. The leading cryptocurrency fell to a two-week low of $7,282 earlier today on Biffinex and was last seen trading at $7,350 – down 3 percent on a 24-hour basis. The sell-off from the recent high of $8507 had shown signs of exhaustion near $7,455 (38.2 percent Fibonacci retracement of the rally from the June low of $5,755) on Wednesday, raising prospects of a move higher to $8,000. However, BTC…

OKEx Confirms $9M Clawback After ‘Enormous’ Bitcoin Futures Position Fails

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After a user made an “enormous” gamble on bitcoin futures, and lost, Hong Kong-based cryptocurrency exchange OKEx said it is having to claw back millions from counterparties. The exchange explained on Friday that it force-liquidated an “unusually large” long position of 4,168,515 bitcoin futures contracts held by a client on July 31 after the user declined the exchange’s request to lower the position. Each futures contract has a notional value of $100, according to OKEx, so the total value of the position was over $400 million. The platform said it subsequently…

Bitcoin Price Watch: BTC/USD Not Out of Woods Yet

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Key Points Bitcoin price declined further and traded below the $7,500 support level against the US Dollar. There was a break below a declining channel with support at $7,365 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is finding a strong buying interest near $7,250, which could ignite an upward move. Bitcoin price declined towards the $7,250 support against the US Dollar. BTC/USD could recover if buyers manage to keep the price above $7,250. Bitcoin Price Analysis There were further slides noted below the…

Cardano Price Analysis: ADA/USD Slides Further, $0.12 Next?

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Key Highlights ADA price remained in a downtrend and it declined below the $0.1350 support against the US Dollar (tethered). There is a crucial declining channel in place with resistance at $0.1300 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may correct a few points higher, but upsides could be capped by $0.1300 and $0.1350. Cardano price fell further against the US Dollar and Bitcoin. ADA/USD is likely to extend the current slide towards the $0.1200 level in the near term. Cardano Price Analysis…

Business Value of Blockchain to ‘Reach $2 Trillion by 2030’

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IHS Market, a data analytics firm in the fields of finance and technology, released a July report that forecasts blockchain technology could lead to a business activity value of $2 trillion by 2030. The report includes all value that blockchain adds as an entire vertical (not specific coin market caps). $2 Trillion: Too Conservative? Though the report delved into granular parts of blockchain value, including “…primary research interviews with strategic blockchain specialists,” $2 trillion is a very conservative number. The year 2030 is a long way off. Additionally, despite the…

Ripple Price Analysis: XRP/USD Trading With Positive Signs

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Key Highlights Ripple price held the $0.4270 support once again and remained well bid against the US dollar. There was a break above a connecting bearish trend line with resistance at $0.4300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair bounced back recently, but it is struggling to clear the $0.4420 resistance level. Ripple price is holding key supports against the US Dollar and Bitcoin. XRP/USD is likely to recover further as long as it is above $0.4270. Ripple Price Support There was a…

Mt Gox Creditors Are Preparing to Claim for Bitcoin Repayments

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A group of creditors of the defunct bitcoin exchange Mt. Gox have started preparing to claim for bitcoin repayments following a court’s decision in June. Lawyers representing several Mt. Gox creditors – who filed a petition in November to move Mt. Gox out of bankruptcy and into a process of civil rehabilitation – on Thursday published an updated proposal for the process. The lawyers released an initial basic policy for the plan on June 29, just one week after a court in Tokyo approved creditors’ civil rehabilitation petition from late last…