Day: September 28, 2018

India’s Zebpay Shutters Crypto Exchange Over Central Bank Ban

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Major Indian cryptocurrency exchange Zebpay announced it had stopped all trading due to the country’s banking ban. The official announcement was published Thursday, September 27. Citing “extremely difficult” conditions it encountered attempting to process customer orders in the current environment, the exchange gave just several hours’ notice of the decision, which as of press time is already in effect. The move caught many by surprise, coming almost three months after the July 6 deadline for banks to comply with the Reserve Bank of India’s (RBI) ban on offering services to…

Litecoin (LTC) price forms a strong bottom and is now ready for a trend reversal

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Litecoin’s price recently recovered from the $54.30 support against the US Dollar. The coin’s price formed a strong bottom at $60.00 support and signs show that it is now ready for a trend reversal. Additionally, many investors and analysists were convinced that the coin might fall significantly, but they have all been proven wrong. Price Analysis Previously, Litecoin’s price had dipped below $55, where it found support against the US dollar. The price had dropped as low as $54.36 before is started an uptrend. According to the daily chart, the…

Austria Turns to Public Ethereum Blockchain for €1.15 Billion Bond Auction

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Austria will raise a total 1.15 billion euros in a federal bond auction on Oct. 2 using blockchain notarization, according to Oesterreichische Kontrollbank (OeKB), which oversees the auctions for issuing federal bonds as a neutral capital market participant for the Austrian Federal Financing Agency (OeBFA). The auction demonstrates Austria’s pioneering role in Europe for deploying blockchain technology for sovereign bond issues, according to the notice posted on the Finance Ministry website. Two outstanding German government bonds, 0.75% Federal Bond 2018 – 2018 and 0.00% Federal Bond 20166 – 2023, will be…

Ethereum (ETH) Will Reach $1,900 Before the End of the Year, Says Tom Lee

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Tom Lee predicts Ethereum will experience a massive price rally in the closing months of the year. The research chief at Fundstrat Global Advisors tips the second-ranked cryptocurrency to reach $1,900 before the end of 2018. XRP briefly upstaged Ethereum to claim the second spot on the market capitalization rankings before regaining its place. Ethereum Price Rally Imminent According to Bloomberg, cryptocurrency bull, Tom Lee expects an imminent trend reversal for Ethereum in the fourth quarter of 2018. In a letter to Fundstrat’s clients on Thursday (September 27, 2018), Lee…

Bitcoin Price Watch: BTC/USD Targets New Weekly High

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Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate towards $6,840. Bitcoin price is gaining traction above $6,640 against the US Dollar. BTC/USD is likely to move further higher towards $6,840 and $6,880 if buyers remain in action. Bitcoin Price Analysis After a brief…

World’s First Blockchain Identity Laboratory Launched In Scotland

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Europe’s first dedicated blockchain research facility and the world’s first advanced blockchain identity laboratory has been launched in the Scottish capital of Edinburgh. Blockpass Identity Lab @ Edinburgh Napier University launches today! @scotlandis @BlockpassIDLab @EdinburghNapier pic.twitter.com/alk9ZgHftH — Blockpass (@BlockpassOrg) September 26, 2018 Known as the Blockpass Identity Lab, the pioneering blockchain research facility will focus on exploring ways in which blockchain technology can be applied in protecting personal data online according to The Scotsman. Built at the Merchiston Campus of the Edinburgh Napier University, the laboratory is part of a…

Indian Crypto Exchange Zebpay Halts Trading Over Banking Ban

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Zebpay, the largest cryptocurrency exchange by trading volume in India, has announced it is halting its trading service later today. Giving only several hours’ notice, the Ahmedabad-based company said in a tweet that, from 16:00 local time (10:30 UTC) on Friday, it will halt its exchange service and cancel all unexecuted orders, crediting the funds to customers’ wallets. “No new orders will be accepted,” the exchange said. In a blog post published today, Zebpay further explained the decision directly results from the ban issued by India’s central bank earlier this year…

Cardano Price Analysis: ADA/USD Showing Bullish Signs Above $0.085

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Key Highlights ADA price found support near $0.0750 and traded higher against the US Dollar (tethered). There was a break above a key bearish trend line with resistance at $0.0815 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair could continue to move higher towards the $0.0900 and $0.0950 levels in the short term. Cardano price is showing positive signs against the US Dollar and Bitcoin. ADA/USD remains supported above $0.0750 and it may climb towards the $0.0950 level. Cardano Price Analysis There was a…

How US Regulates the Political Donations in Crypto

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On Sept. 20, the crypto community was rattled by the news that California’s political campaign regulator ruled in favor of an outright ban of any and all cryptocurrency donations. It came across as a surprise for many that the progressive state, which is home to the world’s largest technology hub as well as to a politician whom Bloomberg calls the ‘Crypto Candidate for Congress,’ has suddenly set such a hard-handed regulatory precedent in the run-up to November’s elections. If anything, the signals that emanated from the state’s Fair Political Practices…

Why a ‘Decentralized’ Crypto Exchange Is Seeking a Securities License

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Everbloom, one of numerous so-called decentralized exchanges (DEXs) for cryptocurrencies that have cropped up lately, is seeking to become a licensed broker-dealer in a bid to attract institutional investors. Revealed exclusively to CoinDesk, the startup recently registered with the U.S. Securities and Exchange Commission and submitted an application for a license from the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization (SRO) for securities dealers. If approved, Everbloom would be allowed to profit from services related to trading securities. That’s a must in the company’s view, given the uncertain regulatory…