Day: August 17, 2018

Crypto Trading Revenue Could More Than Double in 2018

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New research from Sanford C. Bernstein & Co. suggests that revenue generated by cryptocurrency exchanges could more than double to hit $4 billion in 2018, Bloomberg reports August 17. The report, titled “Crypto Trading — the Next Big Thing is Here?,” argues that the protracted crypto bear market is unlikely to impact the burgeoning revenue generated by exchanges. Moreover, “as the crypto-asset class seasons and institutional demand builds,” traditional financial sector firms — including custodians and asset managers — will find “a plethora of opportunities,” the analysts suggest. Bernstein found…

UK Watchdog Warns of Crypto Scams Using ‘Prestigious’ London Addresses as Smokescreen

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The U.K.’s Financial Conduct Authority (FCA) has said that crypto investment scams are increasingly targeting British investors, in an official warning published August 17. The watchdog warns that fraudsters often use celebrity images, slick websites or “prestigious” City of London addresses as a smokescreen through which to lure prospective investors. It adds: “Scam firms can manipulate software to distort prices and investment returns. They may scam people into buying non-existent cryptocurrencies. They are also known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or…

CME Futures Partner Releases First Regulated Bitcoin Cash Futures

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Cryptocurrency trading platform Crypto Facilities has added Bitcoin Cash (BCH) to its list of futures products, announcing in a press release that the product would go live at 4PM BST Friday, August 17. Crypto Facilities, which rose to prominence when it partnered with CME Group on its first-of-its kind Bitcoin futures in December 2017, said the move reflected Bitcoin Cash’s status as a “top five coin” by market cap. The platform already offers Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and Litecoin (LTC) futures. “We are pleased to be expanding our…

Kin Ecosystem | Choses 40 Developers to Build it’s Digital Services Apps

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The Kik mobile messaging service announced back in May 2017, that it would be launching a new cryptocurrency named Kin as the first step to developing its Kin ecosystem; a decentralized ecosystem of digital services. Jump forward to September 2017 where Kik successfully concluded it’s token sale and raised nearly $100 million from across 117 countries.  Now — today, this decentralized ecosystem is truly underway as the company announced its approval of 40 developers to participate in its first ‘Kin Developer Program’. But what is this and what will these developers do?…

Chinese Retail Giant JD.com Launches Enterprise Blockchain-as-a-Service Platform

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Chinese e-commerce giant JD.com has revealed its new Blockchain-as-a-Service (BaaS) platform in a press release published today, August 17. The new tool, dubbed JD Blockchain Open Platform, aims to enable businesses to build, host and implement blockchain solutions without having to develop the technology from scratch. According to the press release, the service will offer smart contract functionality for “public and private enterprise clouds.” JD outlines a range of potential use cases for the platform: “The technology can help companies streamline operational procedures such as tracking and tracing the movement…

How China Is Fighting Corruption With Blockchain

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China has been on the verge of blockchain adoption as of late. The technology, in fact, has become part of the country’s national, president-signed program. The latest advancement in the field relates to the country’s old corruption staple — fake invoices used to embezzle corporate and state funds. Tax authorities of the city of Shenzhen and a state-owned aerospace firm have recently turned to blockchain for immutable and transparent record-keeping, steadily putting an end to paperback corruption. China’s complex ‘fapiao’ invoice system To understand the nature of the latest blockchain…

40% of Enterprises Believe Blockchain is ‘Overhyped’: Deloitte Global Survey

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According to the Deloitte 2018 global blockchain survey, almost 39% of the respondents were of the view that blockchain technology was ‘overhyped’. In the study in which over 1,000 blockchain-savvy executives at firms boasting annual revenues of $0.5 billion or more in the United States, the United Kingdom, Canada, Mexico, Germany, France and China were polled, this perception was stronger in the world’s largest economy. “Despite enterprise digital respondents’ interest in blockchain’s capabilities, nearly 39 percent of the broad global sample said they believe blockchain is “overhyped.” In the United…

Decentralized Exchange for Ethereum Promises Lower Fees Than Rivals

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A decentralized exchange claims that its trading fees are considerably lower than that of its rivals — with a one percent fee reduced to 0.03 percent whenever they use the platform’s native tokens. Blockonix says its exchange is the “most clean, most user friendly” on the marketplace right now and offers a more cost-effective experience than the likes of EtherDelta, Idex and ForkDelta. The platform provides users with a way to trade Ethereum — as well as Ethereum-based digital assets and tokens — around the world, and its team says…

3 Charts Suggest Bitcoin Prices Could Be Headed Higher

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For bitcoin (BTC), the path of least resistance is to the upside, according to technical charts. At press time, the leading cryptocurrency is changing hands at $6,430 on Bitfinex – up 9 percent from the Aug. 14 low of $5,859. However, BTC has failed three times in the last 72 hours to hold on to gains above $6,500, with the latest attempt to scale the psychological level failing a couple of minutes before press time. This may force investors to question the sustainability of the recent rally. But such concerns may…

Tokens Record 50% Gains as Crypto Market Recovers, Bitcoin at $5,000

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Over the past 24 hours, tokens such as VeChain, Ontology, and PundiX recorded 50 percent gains against the US dollar, as the crypto market recovered and Bitcoin showed stability. VeChain recorded the biggest jump in value on August 17, spiking by over 50 percent against the US dollar, becoming the best performing digital asset this week. What Does the Strong Performance of Tokens Mean? In a bear market, investors tend to avoid high-risk high-return trades, especially tokens and small market cap cryptocurrencies. Consequently, throughout the past week, the dominance index…