Day: August 15, 2018

BTCUSD Recovers on Weak Upside Promise

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The Bitcoin market on Wednesday attempted a decent bullish recovery, extending the recent marginal gains to an impressive 10% upside from the previous lows. The Asian trading session witnessed an influx of buying orders in an attempt to pierce through $6,500-resistance. As we hiccuped through the European course, the bullish sentiment weakened and pulled the price almost $200 down. The US session, however, is attempting a bounce-back at the time of this writing, though with fragile bull support. We can notice a powerful selling sentiment around $6,500 – the price…

Reality Shares Will Join Increasingly Crowded Bitcoin Hedge Fund Arena, Says Source

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California-based asset manager Reality Shares has become the latest competitor in the Bitcoin hedge fund space, an anonymous source told Business Insider August 15. Reality Shares, which became known in the cryptocurrency space this year after launching the first Chinese blockchain ETF in June, has reportedly already attracted $25 million for the fund. Capped at $100 million, the multi-strategy fund would “be a mix of arbitrage, venture, and directional strategies,” the unnamed person “familiar with the firm’s plan” told the publication. The 2018 bear market in cryptocurrencies has made life…

‘Sh*tcoin’ Ethereum Price Will Fall Below $100: BitMEX CEO

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When Arthur Hayes has an opinion, he doesn’t tend to mince words. The BitMEX CEO and noted pot-stirrer stayed true to form on Tuesday when using a few, err, colorful illustrations, he predicted that the ethereum price is on track to plunge to double-digit price levels. Writing in BitMEX’s “Crypto Trader Digest,” the exchange operator’s semi-regular newsletter, Hayes argued that ethereum is a “sh*tcoin” whose price has been buttressed by initial coin offerings (ICOs) since at least early 2017. Increasingly, those investments have come from VCs, who he says will…

LINE Launches Token Venture Fund

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LINE, the Japanese messaging giant, has today announced the launch of its token venture fund. The Token venture fund will have a capital commitment of $10 million USD via LINE’s subsidiary, Unblock Ventures. Unblock Ventures was recently established in Hong Kong in only July of this year. Token Venture Fund The publicly traded LINE made the announcement earlier today and said its goal is to invest in blockchain startups with the ambition of boosting technological development. Unblock Ventures, will manage the fund but the actual capital of $10 million will be…

Japan’s Messaging Giant LINE Sets Up $10 Million Hong Kong Blockchain Venture Fund

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Japanese social messaging app LINE announced the creation of a $10 million blockchain venture fund Wednesday, August 15, as part of its expansion into the cryptocurrency market. Launched via Hong Kong-based subsidiary unblock corp., the fund contains funds from fellow LINE sister outfit LVC Corporation. “Additionally, unblock ventures’ token fund is expected to expand in the future, according to the growth of the blockchain market,” the company commented in a press release, adding: “By launching this new corporate token fund, LINE is aiming to boost the development and adoption of…

Bitcoin and Ethereum Rise 6% as Market Rebounds During Dark Skies

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Over the past 12 hours, Bitcoin and Ethereum have risen by more than 6 percent in value, but some analysts are still not convinced about the short-term trend of the crypto market. Generally Positive Sentiment The quick recovery of Bitcoin and Ether, the native cryptocurrency of the Ethereum network, has led the general sentiment of the market to become more positive. Ether, which plunged by nearly 20 percent on August 14, showed strong movements today, increasing from $250 to $280. Ethereum Classic, Litecoin, Ripple, NEO, and other major cryptocurrencies also…

South Korea Budgets a Trillion Won for Blockchain Tech in 2019

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South Korea’s government has earmarked a 5 trillion won ($4.4 billion) budget toward its ‘Growth through Innovation’ investment program in eight critical sectors with a particular focus on blockchain and AI. In a meeting in Seoul on Monday, South Korea’s finance minister Kim Dong-yeon confirmed plans of a 5 trillion won investment toward its innovation program in 2019, a sharp 65 percent increase from this year’s budgetary spend. The South Korean government is keen on developing the infrastructure of a platform economy with a marked focus on blockchain, big data…

Identitii Taps ASX to Launch $11 Million Blockchain IPO

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Identitii Limited, a blockchain-based digital identity management innovator, has launched an $11 million IPO on the Australian Securities Exchange (ASX). The Australian company aims to sell 14.6 million shares at the rate of 75 cents per unit. The proceeds will be used for the additional development and marketing of Identitii’s anti-money laundering solution, Serra. The blockchain-enabled solution will upgrade ‘FIS’, an risk & compliance software to lower compliance costs, speed up payment processing and to generate additional revenue for the company. Blockchain technology is one of the most reported innovations…

Bitcoin Price Watch: BTC/USD’s Rebound Above $6,350 is Real?

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Key Points Bitcoin price recovered nicely after trading as low as $5,894 and moved above $6,200 against the US Dollar. There is a new connecting bullish trend line forming with support at $6,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could revisit the $6,550 resistance zone as long as it is above the $6,150 level. Bitcoin price rebounded more than $300 from lows against the US Dollar. However, BTC/USD is facing many resistances near $6,450 and $6,550. Bitcoin Price Analysis Recently, we saw…

Prime Trust Enters Crypto Custody Race, Will Hold ‘Any’ Ethereum Token

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Prime Trust, a small U.S. financial institution that’s played a behind-the-scenes role in several dollar-backed cryptocurrencies, is entering the hotly competitive crypto custody business. Revealed exclusively to CoinDesk, the Nevada trust company quietly began offering cold storage for bitcoin in mid-July, and will announce next week that it can also handle custody for ether and any token issued on the ethereum blockchain under the ERC-20 standard.  Such services are in demand among institutional investors, who despite the bear market find crypto’s returns alluring, but don’t want the bother of protecting the…